CONWAY, Ark., Jan. 25, 2019 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ GS: HOMB) (“Home” or “the Company”, parent company of Centennial Bank, has been ranked #1 on the Forbes 2019 “Best Banks in America” list for the second consecutive year. The Company first achieved the top ranking in 2018, which was an improvement from #8 in 2017’s rankings and #15 in 2016’s rankings. This is the tenth consecutive year Forbes has ranked America’s largest banks, using financial data from S&P Global Market Intelligence.
“Being ranked the #1 bank in the country by Forbes for two years in a row is among the top highlights of Home,” said John Allison, Chairman. “We are proud to be recognized with this distinct honor again for 2019. This achievement is a direct reflection of the commitment of our bankers, the loyalty of our customers and of the fantastic communities we serve.”
Home BancShares scored in the top 15 in six of the ten metrics, including third overall for its efficiency ratio of 37% (the median is 59% for the top 100). “Receiving such accolades from Forbes based on our performance metrics, especially during the last two years as the financial sector has underperformed in the stock market, confirms the strength and stability of our bank,” added Allison.
Forbes magazine’s 100 largest U.S. banks range in size from $9.8 billion to $2.6 trillion in assets and were ranked based on ten, equally weighted metrics related to growth, profitability, capital adequacy and asset quality, using data based on regulatory filings for the period ending September 30, 2018. These metrics included return on average tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percent of total loans. Forbes also factored in non-performing assets as a percent of assets, Common Equity Tier 1 ratio, risk-based capital ratio and reserves as a percent of non-performing assets.
To see the full article and Forbes ranking of the 100 largest banks in America, visit https://www.forbes.com/sites/kurtbadenhausen/2019/01/16/americas-best-banks-2019/#200c8e874583.
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”
This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors, include, but are not limited to, the following: economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions, increased regulatory requirements as a result of our exceeding $10 billion in total assets, legislative and regulatory changes, technological changes and cybersecurity risks, competition from other financial institutions, changes in the assumptions used in making the forward-looking statements, and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 27, 2018.
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