Home BancShares Inc. of Conway (NYSE: HOMB) on Thursday reported fourth-quarter net income of $73.4 million, down 10.3% from the same quarter last year.
But the company, the parent of Centennial Bank, still finished the year with new records for profit and earnings per share. Net income in 2021 was $319 million, or $1.94 earnings per share.
Earnings in the fourth quarter were 45 cents per share, beating Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The bank holding company posted revenue of $182.9 million, with revenue net of interest expense at $173.8 million, which also exceeded Wall Street expectations.
“The year 2021 delivered numerous exceptional results for HOMB including several record setting metrics,” Chairman John Allison said in a news release. “As we end 2021 with record profits and peer leading asset quality, combined with our recent sub-debt note issuance, HOMB is starting out 2022 with a fortress balance sheet and poised to pivot in any direction where opportunities arise.”
Total deposits were $14.26 billion for the year. Total assets were $18.05 billion.
The company said its $919 million acquisition of Happy Bancshares Inc. of Happy, Texas remains on track to close in the first quarter of 2022. State regulators and shareholders approved the deal last month.
The Associated Press contributed to this report.
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