CONWAY, Ark., March 07, 2017 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ:HOMB), parent company of Centennial Bank, has been ranked #8 on the Forbes 2017 "Best Banks in America" list, a rise from #15 in 2016’s rankings and #24 in 2015’s rankings. This is the eighth consecutive year Forbes has ranked America’s largest banks, using financial data from S&P Global Market Intelligence.
“We are honored to be recognized among the strongest, most reliable banking institutions in the country for the third year in a row,” said John Allison, Chairman. “This kind of distinction is a direct reflection of the talented associates we employ, the customers who entrust us with their finances, and the communities we serve.”
Home BancShares ranked third in both return on tangible common equity and efficiency ratio metrics. “With the Company’s return on tangible common equity over 20% and efficiency ratio under 40%, our shareholders can remain confident that our strong metrics will continue to provide them with solid returns,” added Allison.
Forbes magazine ranked banks with assets from $8 billion to $2.5 trillion based on ten, equally weighted metrics related to growth, profitability, capital adequacy, and asset quality based on regulatory filings for the period ending September 30, 2016. These metrics included twelve-month operating revenue growth, return on average tangible equity, return on average assets, net interest margin, efficiency ratio, net charge-offs as a percent of total loans, non-performing assets as a percent of assets, risk-based capital ratio, reserves as a percent of non-performing assets, and the common equity tier 1 ratio.
To see the full article and Forbes ranking of the 100 largest banks in America, visit http://www.forbes.com/sites/kurtbadenhausen/2017/01/10/americas-best-banks-2017#5a270ba9c9fa.
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, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.'s financial results is included in its Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2017.
FOR MORE INFORMATION CONTACT: Jennifer C. Floyd Chief Accounting Officer & Investor Relations Officer Home BancShares, Inc. (501) 339-2929
Source: Home BancShares, Inc.