Home BancShares Q1 2020 Earnings Report
Key Takeaways
Home BancShares, Inc. reported first quarter earnings, demonstrating resilience with profitability despite significant net income noise primarily related to COVID-19 and acquisition-related expenses. The company's earnings power shone through, maintaining profitability even after $95 million of noise, most of which were non-cash expenditures.
The company recorded a $71.7 million provision for credit losses due to COVID-19.
Non-GAAP net earnings were $70.8 million, or $0.43 diluted earnings per share, after adjusting for $95.2 million of net additional expenses.
Net interest margin was 4.22% for the three-month period ended March 31, 2020.
Total assets increased to $15.53 billion at March 31, 2020.
Home BancShares
Home BancShares
Home BancShares Revenue by Geographic Location
Forward Guidance
This release may contain forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future.
Positive Outlook
- Economic conditions
- Credit quality
- Interest rates
- Loan demand
- Technological changes and cybersecurity risks
Challenges Ahead
- Disruptions and uncertainties in our business and operations as a result of the ongoing coronavirus pandemic
- The ability to successfully integrate new acquisitions
- Legislative and regulatory changes and risks associated with current and future regulations
- Competition from other financial institutions
- Changes in the assumptions used in making the forward-looking statements