Conway’s Home Bancshares Inc. reported first quarter earnings of $71.4 million, a decline of 2.3 percent compared to a year ago.
The $15.1-billion asset lender recorded an efficiency ratio of 41% for the quarter compared to 37.8% when it reported record first quarter earnings of $73 million in 2018.
The company’s return on average assets for the quarter slipped from 2.08% a year ago to 1.92%. Net interest margin for the quarter was 4.3% compared to 4.46% during the first quarter of 2018.
“Considering all the noise in the market the last two quarters, we are proud to maintain our net interest margin at 4.3% and to meet the earnings per share target of 42 cents,” said John Allison, chairman. “We think stability and good asset quality are important and outweigh the need for fast growth.”
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