XML 45 R33.htm IDEA: XBRL DOCUMENT
v3.24.3

Investment Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Fair Value of Securities Available-for-Sale | The following table summarizes the amortized cost and fair value of securities that are classified as available-for-sale and held-to-maturity:
| September 30, 2024
| Available-for-Sale
| Amortized Cost |  | Allowance for Credit Losses |  | Net Carrying Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Estimated Fair Value
| (In thousands)
U.S. government-sponsored enterprises | $ | 321,233 |  |  | $ | — |  |  | $ | 321,233 |  |  | $ | 1,800 |  |  | $ | (11,248) |  |  | $ | 311,785 |
U.S. government-sponsored mortgage-backed securities | 1,574,430 |  |  | — |  |  | 1,574,430 |  |  | 1,105 |  |  | (150,070) |  |  | 1,425,465 |
Private mortgage-backed securities | 186,916 |  |  | — |  |  | 186,916 |  |  | 115 |  |  | (9,090) |  |  | 177,941 |
Non-government-sponsored asset backed securities | 264,497 |  |  | — |  |  | 264,497 |  |  | 646 |  |  | (2,945) |  |  | 262,198 |
State and political subdivisions | 966,644 |  |  | — |  |  | 966,644 |  |  | 1,094 |  |  | (66,804) |  |  | 900,934 |
Other securities | 215,605 |  |  | (2,195) |  |  | 213,410 |  |  | 539 |  |  | (21,652) |  |  | 192,297 |
Total | $ | 3,529,325 |  |  | $ | (2,195) |  |  | $ | 3,527,130 |  |  | $ | 5,299 |  |  | $ | (261,809) |  |  | $ | 3,270,620 |
| September 30, 2024
| Held-to-Maturity
| Amortized Cost |  | Allowance for Credit Losses |  | Net Carrying Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Estimated Fair Value
| (In thousands)
U.S. government-sponsored enterprises | $ | 43,490 |  |  | $ | — |  |  | $ | 43,490 |  |  | $ | — |  |  | $ | (1,712) |  |  | $ | 41,778 |
U.S. government-sponsored mortgage-backed securities | 125,920 |  |  | — |  |  | 125,920 |  |  | 754 |  |  | (2,288) |  |  | 124,386 |
State and political subdivisions | 1,109,685 |  |  | (2,005) |  |  | 1,107,680 |  |  | 197 |  |  | (79,586) |  |  | 1,028,291 |
Total | $ | 1,279,095 |  |  | $ | (2,005) |  |  | $ | 1,277,090 |  |  | $ | 951 |  |  | $ | (83,586) |  |  | $ | 1,194,455 |
| December 31, 2023
| Available-for-Sale
| Amortized Cost |  | Allowance for Credit Losses |  | Net Carrying Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Estimated Fair Value
| (In thousands)
U.S. government-sponsored enterprises | $ | 361,494 |  |  | $ | — |  |  | $ | 361,494 |  |  | $ | 2,247 |  |  | $ | (17,093) |  |  | $ | 346,648 |
U.S. government-sponsored mortgage-backed securities | 1,711,668 |  |  | — |  |  | 1,711,668 |  |  | 310 |  |  | (191,557) |  |  | 1,520,421 |
Private mortgage-backed securities | 191,522 |  |  | — |  |  | 191,522 |  |  | — |  |  | (16,117) |  |  | 175,405 |
Non-government-sponsored asset backed securities | 370,203 |  |  |  |  | 370,203 |  |  | 821 |  |  | (7,551) |  |  | 363,473 |
State and political subdivisions | 990,318 |  |  | — |  |  | 990,318 |  |  | 1,938 |  |  | (75,931) |  |  | 916,325 |
Other securities | 215,722 |  |  | (2,525) |  |  | 213,197 |  |  | 402 |  |  | (28,030) |  |  | 185,569 |
Total | $ | 3,840,927 |  |  | $ | (2,525) |  |  | $ | 3,838,402 |  |  | $ | 5,718 |  |  | $ | (336,279) |  |  | $ | 3,507,841 |
| December 31, 2023
| Held-to-Maturity
| Amortized Cost |  | Allowance for Credit Losses |  | Net Carrying Amount |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Estimated Fair Value
| (In thousands)
U.S. government-sponsored enterprises | $ | 43,285 |  |  | $ | — |  |  | $ | 43,285 |  |  | $ | — |  |  | $ | (2,607) |  |  | $ | 40,678 |
U.S. government-sponsored mortgage-backed securities | 130,278 |  |  | — |  |  | 130,278 |  |  | 106 |  |  | (4,362) |  |  | 126,022 |
State and political subdivisions | 1,110,424 |  |  | (2,005) |  |  | 1,108,419 |  |  | 456 |  |  | (105,094) |  |  | 1,003,781 |
Total | $ | 1,283,987 |  |  | $ | (2,005) |  |  | $ | 1,281,982 |  |  | $ | 562 |  |  | $ | (112,063) |  |  | $ | 1,170,481 |
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | The amortized cost and estimated fair value of securities classified as available-for-sale and held-to-maturity at September 30, 2024, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
| Available-for-Sale |  | Held-to-Maturity
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
| (In thousands)
Due in one year or less | $ | 29,837 |  |  | $ | 29,449 |  |  | $ | — |  |  | $ | — |
Due after one year through five years | 256,357 |  |  | 245,060 |  |  | 43,548 |  |  | 42,380 |
Due after five years through ten years | 377,774 |  |  | 346,905 |  |  | 341,352 |  |  | 321,196 |
Due after ten years | 839,514 |  |  | 783,602 |  |  | 768,275 |  |  | 706,493 |
U.S. government-sponsored mortgage-backed securities | 1,574,430 |  |  | 1,425,465 |  |  | 125,920 |  |  | 124,386 |
Private mortgage-backed securities | 186,916 |  |  | 177,941 |  |  | — |  |  | — |
Non-government-sponsored asset backed securities | 264,497 |  |  | 262,198 |  |  | — |  |  | — |
Total | $ | 3,529,325 |  |  | $ | 3,270,620 |  |  | $ | 1,279,095 |  |  | $ | 1,194,455 |
Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale | The following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale and held-to-maturity, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2024 and December 31, 2023.
| September 30, 2024
| Less Than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (In thousands)
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises | $ | 18,911 |  |  | $ | (132) |  |  | $ | 171,503 |  |  | $ | (11,116) |  |  | $ | 190,414 |  |  | $ | (11,248) |
U.S. government-sponsored mortgage-backed securities | 2,314 |  |  | (23) |  |  | 1,322,911 |  |  | (150,047) |  |  | 1,325,225 |  |  | (150,070) |
Private mortgage-backed securities | — |  |  | — |  |  | 168,230 |  |  | (9,090) |  |  | 168,230 |  |  | (9,090) |
Non-government-sponsored asset backed securities | — |  |  | — |  |  | 106,450 |  |  | (2,945) |  |  | 106,450 |  |  | (2,945) |
State and political subdivisions | 22,859 |  |  | (504) |  |  | 771,340 |  |  | (66,300) |  |  | 794,199 |  |  | (66,804) |
Other securities | 6,976 |  |  | (1,079) |  |  | 171,574 |  |  | (20,573) |  |  | 178,550 |  |  | (21,652) |
Total | $ | 51,060 |  |  | $ | (1,738) |  |  | $ | 2,712,008 |  |  | $ | (260,071) |  |  | $ | 2,763,068 |  |  | $ | (261,809) |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises | $ | — |  |  | $ | — |  |  | $ | 41,779 |  |  | $ | (1,712) |  |  | $ | 41,779 |  |  | $ | (1,712) |
U.S. government-sponsored mortgage-backed securities | — |  |  | — |  |  | 72,591 |  |  | (2,288) |  |  | 72,591 |  |  | (2,288) |
State and political subdivisions | 22,950 |  |  | (483) |  |  | 994,010 |  |  | (79,103) |  |  | 1,016,960 |  |  | (79,586) |
Total | $ | 22,950 |  |  | $ | (483) |  |  | $ | 1,108,380 |  |  | $ | (83,103) |  |  | $ | 1,131,330 |  |  | $ | (83,586) |
| December 31, 2023
| Less Than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
| (In thousands)
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises | $ | 2,742 |  |  | $ | (2) |  |  | $ | 180,569 |  |  | $ | (17,091) |  |  | $ | 183,311 |  |  | $ | (17,093) |
U.S. government-sponsored mortgage-backed securities | 102,831 |  |  | (2,166) |  |  | 1,392,318 |  |  | (189,391) |  |  | 1,495,149 |  |  | (191,557) |
Private mortgage-backed securities | 9,298 |  |  | (226) |  |  | 166,107 |  |  | (15,891) |  |  | 175,405 |  |  | (16,117) |
Non-government-sponsored asset backed securities | — |  |  | — |  |  | 213,838 |  |  | (7,551) |  |  | 213,838 |  |  | (7,551) |
State and political subdivisions | 28,596 |  |  | (400) |  |  | 769,860 |  |  | (75,531) |  |  | 798,456 |  |  | (75,931) |
Other securities | — |  |  | — |  |  | 164,430 |  |  | (28,030) |  |  | 164,430 |  |  | (28,030) |
Total | $ | 143,467 |  |  | $ | (2,794) |  |  | $ | 2,887,122 |  |  | $ | (333,485) |  |  | $ | 3,030,589 |  |  | $ | (336,279) |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises | $ | — |  |  | $ | — |  |  | $ | 40,677 |  |  | $ | (2,607) |  |  | $ | 40,677 |  |  | $ | (2,607) |
U.S. government-sponsored mortgage-backed securities | 48,498 |  |  | (861) |  |  | 65,573 |  |  | (3,501) |  |  | 114,071 |  |  | (4,362) |
State and political subdivisions | 21,493 |  |  | (297) |  |  | 956,578 |  |  | (104,797) |  |  | 978,071 |  |  | (105,094) |
Total | $ | 69,991 |  |  | $ | (1,158) |  |  | $ | 1,062,828 |  |  | $ | (110,905) |  |  | $ | 1,132,819 |  |  | $ | (112,063) |
Debt Securities, Available-for-Sale, Allowance for Credit Loss |
Available-for-Sale Investment Securities
| September 30, 2024 |  | December 31, 2023
Allowance for credit losses: | (In thousands)
Beginning balance | $ | 2,525 |  |  | $ | 842 |
(Recovery of) provision for credit loss | (330) |  |  | 1,683 |
Balance, September 30 | $ | 2,195 |  |  | $ | 2,525 |
Provision for credit loss |  |  | — |
Balance, December 31, 2023 |  |  | $ | 2,525 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss |
Held-to-Maturity Investment Securities
| September 30, 2024 |  | December 31, 2023
Allowance for credit losses: | (In thousands)
Beginning balance | $ | 2,005 |  |  | $ | 2,005 |
Provision for credit loss | — |  |  | — |
Balance, September 30 | $ | 2,005 |  |  | $ | 2,005 |
Provision for credit loss |  |  | — |
Balance, December 31, 2023 |  |  | $ | 2,005 |
Held-to-Maturity Securities Credit Quality Indicators | The following table summarizes bond ratings for the Company’s held-to-maturity portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of September 30, 2024:
| State and political subdivisions |  | U.S. government-sponsored enterprises |  | U.S. government-sponsored mortgage-backed securities |  | Total
| (In thousands)
Aaa/AAA | $ | 238,872 |  |  | $ | 43,490 |  |  | $ | — |  |  | $ | 282,362 |
Aa/AA | 845,788 |  |  | — |  |  | — |  |  | 845,788 |
A | 23,200 |  |  | — |  |  | — |  |  | 23,200 |
Not rated | 1,825 |  |  | — |  |  | — |  |  | 1,825 |
Agency Backed | — |  |  | — |  |  | 125,920 |  |  | 125,920 |
Total | $ | 1,109,685 |  |  | $ | 43,490 |  |  | $ | 125,920 |  |  | $ | 1,279,095 |
Schedule of Income Earned on Available-for Sale Securities | Income earned on securities for the three months ended September 30, 2024 and 2023, is as follows:
| Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (In thousands) |  |  |  |
Taxable |  |  |  |  |  |  |
Available-for-sale | $ | 23,550 |  |  | $ | 27,028 |  |  | $ | 74,439 |  |  | $ | 82,080 |
Held-to-maturity | 7,456 |  |  | 7,492 |  |  | 22,383 |  |  | 22,479 |
Non-taxable |  |  |  |  |  |  |
Available-for-sale | 4,612 |  |  | 4,746 |  |  | 13,971 |  |  | 14,369 |
Held-to-maturity | 3,092 |  |  | 3,122 |  |  | 9,305 |  |  | 9,394 |
Total | $ | 38,710 |  |  | $ | 42,388 |  |  | $ | 120,098 |  |  | $ | 128,322 |

X
- Definition Held-to-Maturity Securities Credit Quality Indicators + References No definition available. + Details
Name: | homb_HeldToMaturitySecuritiesCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | homb_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-9 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on investment in debt security measured at amortized cost (held-to-maturity). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and income classified as other. + References No definition available. + Details
Name: | us-gaap_InterestAndOtherIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration