Profile: Home BancShares Inc (HOMB.O)
19 Jun 2019
Home BancShares, Inc., incorporated on September 1, 1989, is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank). The Company operates through community banking segment. The Company offers a range of products and services, including Internet banking, mobile banking and voice response information, cash management, overdraft protection, direct deposit, safe deposit boxes, the United States savings bonds and automatic account transfers. Cook Insurance Agency, Inc. is an independent insurance agency. Centennial Insurance Agency writes policies for commercial and personal lines of business, including insurance for property, casualty, life, health and employee benefits. The Bank has locations in Arkansas, Florida, South Alabama and New York City. The Company’s Shore Premier Finance division provides direct consumer financing to United States Coast Guard (USCG) registered high-end sail and power boats and also provides inventory floor plan lines of credit to marine dealers, primarily those selling USCG documented vessels. As of September 26, 2017, the Company conducted business principally through 76 branches in Arkansas, 89 branches in Florida, six branches in Alabama and one branch in New York City.
The Company originates loans secured by single and multi-family real estate, residential construction and commercial buildings. In addition, it makes loans to small and medium-sized commercial businesses, as well as to consumers for a range of purposes. The Company's commercial real estate loans include non-farm/non-residential, construction/land development and agricultural. The Company's residential real estate loans include residential one- to four-family and multifamily residential loans. As of December 31, 2016, the Company's total loans amounted to $7.38 billion.
The Company's securities within the portfolio are classified as held-to-maturity, available-for-sale or trading. As of December 31, 2016, the Company had $284.2 million of held-to-maturity securities. As of December 31, 2016, the Company had $1.07 billion of available-for-sale securities. Its available-for-sale securities and held-to-maturity securities include the United States government-sponsored enterprises, residential mortgage-backed securities, commercial mortgage-backed securities and state and political subdivisions.
Sources of Funds
The Company's principal source of funds for loans and investing in securities is deposits. It offers a range of deposit services, including checking, savings, money market accounts and certificates of deposit. The Company obtains deposits from individuals and small businesses, and municipalities in its market areas. The Company obtains its deposits from individuals and small businesses, and municipalities in its market areas. Secondary sources of funding include advances from the Federal Home Loan Banks of Dallas, the Federal Reserve Bank Discount Window and other borrowings.
Home BancShares Inc
719 Harkrider St
CONWAY AR 72032-5606