Forbes magazine this week ranked Home BancShares Inc. of Conway No. 1 on its annual list of "America's Best Banks."
The list, which ranks banks by growth, credit quality and profitability of the 100 largest banks and thrifts by assets, also includes Bank of the Ozarks of Little Rock, which is ranked No. 3, and Simmons First National Corp. of Pine Bluff, which is No. 52.
"We ranked the banks based on 10 metrics related to growth, profitability, capital adequacy and asset quality," the magazine said. "Metrics include return on average tangible equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percent of total loans. Forbes also factored in nonperforming assets as a percent of assets, risk-based capital ratio and reserves as a percent of nonperforming assets."
The rankings were based on Sept. 30 regulatory filings.
The magazine noted that Home BancShares, which operates banks under the Centennial Bank brand, "scored among the top six banks for return on average total common equity (16.2 percent), return on average assets (1.5 percent), net interest margin (4.7 percent) and efficiency ratio (42 percent)."
"A bunch of hard-working country people around here," Home BancShares Chairman Johnny Allison told Arkansas Business on Wednesday. "This makes us very proud."
Since launching in 1999, Home BancShares has made 22 acquisitions, many in the Florida panhandle. John Tipton, Home BancShare's chief operating officer, told the magazine that the bank took over more FDIC-assisted banks than any other in the U.S. between 2010 and 2012.
"We were one of the selected banks that had the capital and balance sheet strength to take over these banks," Tipton said.