On this page of StockholderLetter.com we present the latest annual shareholder letter from HOME BANCSHARES INC — ticker symbol HOMB. Reading current and past HOMB letters to shareholders can bring important insights into the investment thesis.
• 
3/7/2025 Letter Continued (Full PDF)
•
3/1/2024 HOMB Stockholder Letter
• More "Banking & Savings" Category Stockholder Letters
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HOMB Benford's Law Stock Score = 98
3/7/2025 Letter Continued (Full PDF)
•
3/1/2024 HOMB Stockholder Letter•
More "Banking & Savings" Category Stockholder Letters•
HOMB Benford's Law Stock Score = 98HOMB Shareholder/Stockholder Letter Transcript:
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ANNUAL REPORT
2024
DE AR S HARE HOLDE R S ,
2024 completed one quarter of a century for Home BancShares, Inc. (the Company or HOMB ).
I am pleased to announce that the Company closed out our twenty-fifth year by reaching several new
performance records.
It was still an unsettled year in our country and in banking, as we continued to battle high interest
rates, crazy inflation and, towards the end of the year, back-to-back hurricanes in the Southeast.
In 2024 HOMB exceeded $1 billion in revenue and made over $400 million in profits for the first
time, which amounts to 40% of revenue reaching the after-tax bottom line.
The Company also completed what we called the Texas Cleanup , which we expanded to include an
asset quality sweep across the entire Company, with a total charge-off of just over $53 million. It feels
good to have the asset quality cleanup in the rearview mirror, and it positions HOMB for a great 2025.
We fully expect recoveries for the majority of this amount starting as early as the first quarter of 2025.
The fourth quarter of 2024 was especially strong with a couple of additional records achieved:
Record book value per share of $19.92
Net interest margin of 4.39%
Record tangible book value per share* of $12.68
CET1 capital ratio of 15.1%
Revenue for the quarter of $258.4 million
Risk-based capital ratio of 18.7%
In addition, we are continuing to maintain a strong efficiency ratio in the low 40 s.
We also took two hurricane reserves of $16.7 million each in the third and fourth quarter as a result of
Hurricanes Helene and Milton, which made landfall in Florida and spun off more than two dozen tornados
and left storm damage across multiple states. This will be a major undertaking for insurance companies and
likely take time to play out. Therefore, we took the reserve out of an abundance of caution, as we have in the
past. Our thoughts and well wishes go out to all who were impacted by these storms.
We continued to make progress in 2024 on the Texas Headwinds we experienced. Much like the
asset cleanup project, we hope to also put this in the rearview mirror very soon as well.
Our country ended the year with a big election and started off 2025 with a new administration, one
that seems interested in less regulations, which could be very favorable to the banking industry. There is a
lot of enthusiasm and momentum growing, and we hope we will see the fruits of this change during the
year and within the years to come.
I think it s safe to say this was our best performance in our 25-year history, and I am very proud of our
team of bankers, as I know you must be too. We continue to be one of the strongest banks in the country
with a consistent and solid dividend to our shareholders. I hope this provides you with a sense of pride
and comfort. I thank you for your continued support of HOMB and look forward to another successful
year together.
John W. Allison
Chairman and CEO
*A reconciliation of this non-GAAP financial measures to the most directly comparable GAAP financial measure is included in the Company s Form
10-K for the year ended December 31, 2024.
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CELEBRATING 25 YEARS
OF
Strength
Dedication
Built through years of commitment, expertise, and the personal connection to
our communities, we are proud to highlight the dedication of our employees
who have been with us from the beginning!
Front (L to R) Terri Ausbrooks, Rhonda Cuddy, Susan Cole, Sandy Brewer, Latisha Long, John W. Allison,
Becky Tittle, Holly McKenna, Lee Ann Lewis, Cynthia Frost, Bunny Adcock
Back (L to R) Dorris Lentz, Kevin Hester, Randy Mayor, Andria Otto, Jack Engelkes
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HOME BANCSHARES, INC. BOARD OF DIRECTORS & EXECUTIVE OFFICERS
AND CENTENNIAL BANK EXECUTIVE STAFF
John W. Allison
Chairman & Chief
Executive Officer of HOMB
HOMB Director
Executive Officer
Jack E. Engelkes
Vice Chairman
HOMB Director
Donna Townsell
Tracy M. French
SEVP of HOMB &
Centennial Bank &
Director of Investor Relations
HOMB Director
Executive Officer
Chairman
of Centennial Bank
HOMB Director
Milburn Adams
Robert H. Adcock, Jr.
HOMB Director
HOMB Director
J. Pat Hickman
HOMB Director
Brian S. Davis
Kevin Hester
President & Chief Lending
Officer of HOMB &
Centennial Bank
Executive Officer
Chief Financial Officer of
HOMB & Centennial Bank
HOMB Director
Executive Officer
Davy Carter
Jennifer C. Floyd
Mike Beebe
Karen Garrett
HOMB Director
HOMB Director
Regional President
of Centennial Bank
Executive Officer
Chief Accounting
Officer of HOMB &
Centennial Bank
Executive Officer
James G. Hinkle
Alex R. Lieblong
Thomas J. Longe
Jim Rankin
HOMB Director
HOMB Director
HOMB Director
HOMB Director
Larry W. Ross
HOMB Director
4
Stephen Tipton
Chief Operating Officer
of HOMB
Chief Executive Officer
of Centennial Bank
Executive Officer
Jim Haynes
Regional President
of Centennial Bank
David Druey
Regional President
of Centennial Bank
Kevin W.
Bartholomew
Chief Information Officer
of Centennial Bank
Shareholder s Return
$1,000 initial investment (Day 1 of HOMB)
I S NO W W O RT H
$24,351
Note: Current Value = 12/31/2024 closing market value & includes the reinvestment of dividends since the Company went public in 2006.
TOTAL RETURN PERFORMANCE*
350
Home BancShares, Inc.
Cadence Bank
300
Simmons First National Corp.
Bank OZK
Hancock Whitney Corporation
250
Valley National Bancorp
Renasant Corp.
200
150
100
50
'12
'13
'14
INDEX
Home BancShares, Inc.
Cadence Bank
Simmons First National Corp.
Bank OZK
Hancock Whitney Corporation
Valley National Bancorp
Renasant Corporation
'15
'16
'17
'18
'19
'20
'21
'22
'23
24
PERIOD ENDING DECEMBER 31,
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
100.0
100.0
100.0
100.0
100.0
100.0
100.0
226.23
176.85
146.49
169.06
115.60
108.82
164.37
194.79
158.79
160.29
226.52
96.75
104.41
151.15
245.43
170.22
202.52
295.46
79.33
105.91
179.78
324.77
216.53
245.07
288.05
130.00
121.40
213.74
281.65
219.32
225.16
289.43
156.00
120.65
213.64
197.94
180.89
190.30
136.38
109.20
95.48
157.68
238.16
219.94
211.28
182.26
138.29
123.12
185.06
235.98
190.79
170.27
186.80
107.22
104.84
175.97
294.97
207.74
233.28
277.96
157.64
147.85
198.28
276.08
171.97
170.19
239.31
152.51
121.61
196.39
306.84
206.35
156.47
297.67
153.14
116.77
175.97
342.82
240.24
174.92
266.01
172.46
97.42
186.78
*Total return performance represents the total return to shareholders adjusted for any stock dividends and stock splits
assuming the value of initial investment was $100 on December 31, 2012.
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3/7/2025 Letter Continued (Full PDF)