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Home Bancshares posts record first quarter earnings Friday, Apr 20, 2007 Arkansas News Bureau LITTLE ROCK - Home BancShares Inc. announced Thursday record first-quarter earnings of $4.8 million, or 27 cents diluted earnings per share, a 35.4 percent increase compared to earnings in 2006. The Conway-based bank holding company announced that net interest income for the first quarter of 2007, which ended March 31, increased 8.5 percent to $16.1 million, compared to $14.8 million for the same quarter a year ago. Non-interest net income for the first quarter was $6.2 million, compared with $4.4 million one year ago, a 41 percent rise. Total loans were $1.48 billion as of March 31, compared to $1.25 billion a year ago. Total deposits were up 8 percent to $1.63 billion. "The first quarter of 2007 was a great quarter for our company," CEO John W. Allison said. "Anytime you have record first-quarter earnings and strong loan growth combined with a steady net interest margin, you have to be proud." Home BancShares opened its second branch location in Key West, Fla. earlier this year. The company has a pending Florida branch location in Key Largo scheduled to open later this year and plans for four additional branch locations in Searcy, Bryant and Quitman. Home BancShares is the bank holding company for First State Bank, Twin City Bank and Community Bank in Cabot. It is also a minority shareholder in White River Bancshares in Northwest Arkansas and it owns banking operations in South Florida. Shares of Home BancShares (NasdaqGM: HOMB) closed Thursday at $22.92, down 51 cents. |
