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Sep 30, 2022
Home BancShares Q3 2022 Earnings Report
HOMB beat analyst expectations despite uncertainty and West Texas headwinds
Key Takeaways
Home BancShares, Inc. reported a record net income of $108.7 million for the quarter ended September 30, 2022, along with record total net revenue of $256.3 million. The net interest margin is back to 4.05%.
Net income for Q3 2022 was $108.7 million, or $0.53 earnings per share.
Adjusted net income (non-GAAP) was $109.9 million, or $0.54 per share.
Net interest margin was 4.05% for the three-month period ended September 30, 2022.
Total revenue (net) was $256.3 million.
Forward Guidance
The company is positioned to weather economic storms.
Positive Outlook
- Record net income for the quarter of $108.7 million
- Record total net revenue of $256.3 million
- Net interest margin is back where we like it at 4.05%
- Thanked the team for the outstanding effort that led to this great quarter.
- Expressed gratitude to the West Texas Happy team for fighting the battle with the competition.
Challenges Ahead
- Distraction out of West Texas
- Changes in the economy
- Experienced approximately $94.6 million in loan decline.
- Total deposits were $18.54 billion at September 30, 2022, compared to $19.58 billion at June 30, 2022.
- Total assets were $23.16 billion at September 30, 2022, compared to $24.25 billion at June 30, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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