EXHIBIT 99.1

For Immediate Release: January 18, 2024

Results of West Texas Headwinds and FDIC Surprise 4th Quarter Assessment Only Things

Standing Between HOMB and Expected 2023 Goal of $400 Million Plus

Conway, AR – Home BancShares, Inc. (NYSE: HOMB) (“Home” or the “Company”), parent company of Centennial Bank, released quarterly earnings today.

Quarterly Highlights

Metric			Q4 2023			Q3 2023			Q2 2023			Q1 2023			Q4 2022
Net income			$86.2 million			$98.5 million			$105.3 million			$103.0 million			$115.7 million
Total revenue (net)			$245.6 million			$245.4 million			$257.2 million			$248.8 million			$272.3 million
Income before income taxes			$112.8 million			$129.3 million			$136.9 million			$132.9 million			$148.4 million
Pre-tax, pre-provision, net income (PPNR) (non-GAAP)(1)			$118.4 million			$130.6 million			$140.9 million			$134.1 million			$153.4 million
Pre-tax net income to total revenue (net)			45.92%			52.70%			53.23%			53.43%			54.50%
P5NR (Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)			48.22%			53.23%			54.78%			53.91%			56.34%
ROA			1.55%			1.78%			1.90%			1.84%			1.98%
NIM			4.17%			4.19%			4.28%			4.37%			4.21%
Purchase accounting accretion			$2.3 million			$2.4 million			$2.7 million			$3.2 million			$3.5 million
ROE			9.36%			10.65%			11.63%			11.70%			13.29%
ROTCE (non-GAAP)(1)			15.49%			17.62%			19.39%			19.75%			22.96%
Diluted earnings per share			$0.43			$0.49			$0.52			$0.51			$0.57
Diluted earnings per shares, excluding FDIC special assessment (non-GAAP)(1)			0.48			0.49			0.52			0.51			0.57
Non-performing assets to total assets			0.42%			0.42%			0.28%			0.33%			0.27%
Common equity tier 1 capital			14.2%			14.0%			13.6%			13.2%			12.9%
Leverage			12.4%			12.4%			11.9%			11.4%			10.9%
Tier 1 capital			14.2%			14.0%			13.6%			13.2%			12.9%
Total risk-based capital			17.8%			17.6%			17.3%			16.8%			16.5%
Allowance for credit losses to total loans			2.00%			2.00%			2.01%			2.00%			2.01%
Book value per share			$18.81			$18.06			$18.04			$17.87			$17.33
Tangible book value per share (non-GAAP)(1)			11.63			10.90			10.87			10.71			10.17

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

“2023 was a tough year for the banking sector. For HOMB, the biggest obstacles came in the form of the loss of income as a result of the actions from some individuals in West Texas that may prove to be unethical and potentially criminal. In addition, the FDIC 4th quarter surprise assessment to financial institutions to recover losses from failed banks, resulted in $13 million ($0.05 per share) expense for Home BancShares. Both of these events were out of HOMB’s control, and the first event is a matter for the court, so we won’t speculate on the damage. The second one we know is $0.05 per share. Excluding these events, I’m proud to say that we would have beat our goal of $400 million plus and earned over $2.00 per share,” said John Allison, Chairman and CEO of HOMB.

Liquidity and Funding Sources

At December 31, 2023, the Company held $2.12 billion in net available internal liquidity. This balance consisted of $1.21 billion in unpledged investment securities which could be used for additional secured borrowing capacity, $732.4 million in cash with the Federal Reserve Bank (FRB) and $177.2 million in other liquid cash accounts.

Consistent with the Company’s practice of maintaining access to significant external liquidity, the Company had $3.47 billion in net available external liquidity as of December 31, 2023. This included $4.63 billion in available liquidity with the Federal Home Loan Bank (FHLB), of which $1.93 billion has been drawn upon in the ordinary course of business, resulting in $2.69 billion in net available liquidity with the FHLB as of December 31, 2023. The $1.93 billion consisted of $600.0 million in outstanding FHLB advances and $1.33 billion used for pledging purposes. The Company also had access to approximately $1.37 billion in liquidity with the FRB as of December 31, 2023, of which $700.0 million has been drawn upon in the ordinary course of business, resulting in $674.3 million in net available liquidity with the FRB as of December 31, 2023. The $674.3 million consisted of $89.8 million available from the Discount Window and $584.5 million available through the Bank Term Funding Program (BTFP). As of December 31, 2023, the Company also had access to $55.0 million from First National Bankers’ Bank (FNBB) and $45.0 million from other various external sources.

Overall, the Company had $5.59 billion in net available liquidity as of December 31, 2023, which consisted of $2.12 billion of net available internal liquidity and $3.47 billion in net available external liquidity. Details on the Company’s available liquidity as of December 31, 2023 is available below.

(In thousands)						Total Available						Amount Used						Net Availability
Internal Sources
Unpledged investment securities (market value)						$	1,214,352					$	—					$	1,214,352
Cash at FRB						732,412						—						732,412
Other liquid cash accounts						177,191						—						177,191
Total Internal Liquidity						2,123,955						—						2,123,955
External Sources
FHLB						4,625,496						1,932,490						2,693,006
FRB Discount Window						89,823						—						89,823
BTFP (par value)						1,284,507						700,000						584,507
FNBB						55,000						—						55,000
Other						45,000						—						45,000
Total External Liquidity						6,099,826						2,632,490						3,467,336
Total Available Liquidity						$	8,223,781					$	2,632,490					$	5,591,291

The Company has continued to limit its exposure to uninsured deposits and has been actively monitoring this in light of the current banking environment. As of December 31, 2023, the Company held approximately $8.34 billion in uninsured deposits of which $595.5 million were intercompany subsidiary deposit balances and $3.03 billion were collateralized deposits, for a net position of $4.72 billion. This represents approximately 28.1% of total deposits. In addition, net available liquidity exceeded uninsured and uncollateralized deposits by $867.6 million.

(in thousands)			As of December 31, 2023
Uninsured Deposits			$	8,344,570
Intercompany Subsidiary and Affiliate Balances			595,539
Collateralized Deposits			3,025,358
Net Uninsured Position			$	4,723,673
Total Available Liquidity			$	5,591,291
Net Uninsured Position			4,723,673
Net Available Liquidity in Excess of Uninsured Deposits			$	867,618

In the event the Company’s $4.72 billion net position of uninsured deposits had been called by depositors on the first day of the fourth quarter of 2023 and the Company utilized available BTFP funding, which remained outstanding during the entire quarter, the Company estimates that interest expense would have increased by approximately $57.6 million for the quarter ended December 31, 2023. The outflow of deposits could have been funded through available sources of liquidity without selling our investment securities. In this event, because of the high profitability levels of HOMB, the Company estimates that it would still have achieved return on average assets (ROA) of 1.05% for the quarter ended December 31, 2023.

Operating Highlights

Net income for the three-month period ended December 31, 2023 was $86.2 million, or $0.43 diluted earnings per share. When adjusting for non-fundamental items, net income and diluted earnings per share on an as-adjusted basis (non-GAAP), were $92.2 million(1), and $0.46 per share(1), respectively, for the three months ended December 31, 2023. The $13.0 million Federal Deposit Insurance Corporation (FDIC) assessment resulted in a $0.05 reduction to earnings per share. When adjusting solely for the FDIC assessment, net income (non-GAAP) would have been $96.0 million(1), or $0.48 diluted earnings per share(1).

Our net interest margin was 4.17% for the three-month period ended December 31, 2023, compared to 4.19% for the three-month period ended September 30, 2023. The yield on loans was 7.20% and 6.98% for the three months ended December 31, 2023 and September 30, 2023, respectively, as average loans increased from $14.19 billion to $14.34 billion. Additionally, the rate on interest bearing deposits increased to 2.80% as of December 31, 2023, from 2.55% as of September 30, 2023, while average interest-bearing deposits increased from $12.24 billion to $12.48 billion.

During the fourth quarter of 2023, there was $120,000 of event interest income compared to $521,000 of event interest expense for the third quarter of 2023.

Purchase accounting accretion on acquired loans was $2.3 million and $2.4 million and average purchase accounting loan discounts were $27.4 million and $29.9 million for the three-month periods ended December 31, 2023 and September 30, 2023, respectively.

Net interest income on a fully taxable equivalent basis was $203.9 million for the three-month period ended December 31, 2023, and $203.2 million for the three-month period ended September 30, 2023. This increase in net interest income for the three-month period ended December 31, 2023, was the result of an $11.8 million increase in interest income, partially offset by an $11.1 million increase in interest expense. The $11.8 million increase in interest income was primarily the result of a $10.5 million increase in loan interest income and a $2.0 million increase in income from interest-bearing balances due from banks, partially offset by a $658,000 decrease in investment income. The increase in interest income is a result of the current high interest rate environment. The $11.1 million increase in interest expense was due to a $9.3 million increase in interest expense on deposits, a $1.7 million increase in interest expense on FHLB and other borrowed funds and a $136,000 increase in interest expense on securities sold under agreement to repurchase. The increase in interest expense is also a result of the current high interest rate environment.

The Company reported $42.8 million of non-interest income for the fourth quarter of 2023. The most important components of fourth quarter non-interest income were $10.4 million from other service charges and fees, $10.1 million from service charges on deposit accounts, $5.3 million from other income, $5.0 million from the fair value adjustment for marketable securities, $4.3 million from trust fees, $3.0 million from dividends from FHLB, FRB, FNBB and other, $2.4 million in mortgage lending income and $1.2 million from the increase in cash value of life insurance.

Non-interest expense for the fourth quarter of 2023 was $127.2 million. The most important components of non-interest expense were $63.4 million from salaries and employee benefits, $39.7 million in other operating expense, $15.0 million in occupancy and equipment expenses and $9.1 million in data processing expenses. Included within other operating expenses was $13.0 million in FDIC special assessment expense which was levied in order to recover the losses to the Deposit Insurance Fund associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. For the fourth quarter of 2023, our efficiency ratio was 50.64%, and our efficiency ratio, as adjusted (non-GAAP), was 46.43%(1).

Financial Condition

Total loans receivable were $14.42 billion at December 31, 2023, compared to $14.27 billion at September 30, 2023. Total deposits were $16.79 billion at December 31, 2023, compared to $16.52 billion at September 30, 2023. Total assets were $22.66 billion at December 31, 2023, compared to $21.95 billion at September 30, 2023.

During the fourth quarter of 2023, the Company experienced approximately $152.9 million in loan growth. Centennial CFG experienced $61.5 million of organic loan decline and had loans of $1.95 billion at December 31, 2023. Our remaining markets experienced $214.4 million in organic loan growth during the quarter.

Non-performing loans to total loans was 0.44% and 0.64% at December 31, 2023 and September 30, 2023, respectively. Non-performing assets to total assets was 0.42% at both December 31, 2023 and September 30, 2023. Net charge-offs were $3.0 million and $2.9 million for the three months ended December 31, 2023 and September 30, 2023, respectively.

Non-performing loans at December 31, 2023 were $15.4 million, $9.3 million, $33.5 million, $413,000, $2.8 million and $2.7 million in the Arkansas, Florida, Texas, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $64.1 million. Non-performing assets at December 31, 2023 were $15.5 million, $17.3 million, $33.8 million, $413,000, $2.8 million and $25.6 million in the Arkansas, Florida, Texas, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $95.4 million.

The Company’s allowance for credit losses on loans was $288.2 million at December 31, 2023, or 2.00% of total loans, compared to the allowance for credit losses on loans of $285.6 million, or 2.00% of total loans, at September 30, 2023. As of December 31, 2023 and September 30, 2023, the Company’s allowance for credit losses on loans was 449.66% and 314.29% of its total non-performing loans, respectively.

Stockholders’ equity was $3.79 billion at December 31, 2023, compared to $3.65 billion at September 30, 2023, an increase of approximately $136.2 million. The increase in stockholders’ equity is primarily associated with the $101.5 million improvement in accumulated other comprehensive loss and the $49.9 million increase in retained earnings, partially offset by the $17.8 million in stock repurchases. Book value per common share was $18.81 at December 31, 2023, compared to $18.06 at September 30, 2023. Tangible book value per common share (non-GAAP) was $11.63(1) at December 31, 2023, compared to $10.90(1) at September 30, 2023.

Branches

The Company currently has 76 branches in Arkansas, 78 branches in Florida, 63 branches in Texas, 5 branches in Alabama and one branch in New York City.

Conference Call

Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, January 18, 2024. We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/569988317. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://www.netroadshow.com/events/login?show=d3aae28a&confId=59075. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.

Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-470-1428, Passcode: 335279. A replay of the call will be available by calling 1-866-813-9403, Passcode: 758279, which will be available until January 25, 2024, at 10:59 p.m. CT (11:59 p.m. ET). Internet access to the call will be available live or in recorded version on the Company's website at www.homebancshares.com.

About Home BancShares

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, Texas, South Alabama and New York City. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.” The Company was founded in 1998. Visit www.homebancshares.com or www.my100bank.com for more information.

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company’s management uses these non-GAAP financial measures--including net income (earnings), as adjusted; pre-tax, pre-provision, net income (PPNR); PPNR, as adjusted; pre-tax net income, as adjusted, to total revenue (net); pre-tax, pre-provision, profit percentage; pre-tax, pre-provision, profit percentage, as adjusted; diluted earnings per common share, as adjusted; return on average assets, as adjusted; return on average assets excluding intangible amortization; return on average assets, as adjusted, excluding intangible amortization; return on average common equity, as adjusted; return on average tangible common equity; return on average tangible common equity, as adjusted; return on average tangible common equity excluding intangible amortization; return on average tangible common equity, as adjusted, excluding intangible amortization; efficiency ratio, as adjusted; tangible book value per common share and tangible common equity to tangible assets--to provide meaningful supplemental information regarding our performance. These measures typically adjust GAAP performance measures to include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant items or transactions that management believes are not indicative of the Company’s primary business operating results. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s business. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

General

This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future, including future financial results. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future events, performance or results. When we use words or phrases like “may,” “plan,” “propose,” “contemplate,” “anticipate,” “believe,” “intend,” “continue,” “expect,” “project,” “predict,” “estimate,” “could,” “should,” “would,” “on track” and similar expressions, you should consider them as identifying forward-looking statements, although we may use other phrasing. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risks and uncertainties. Various factors could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to, the following: economic conditions, credit quality, interest rates, loan demand, real estate values and unemployment, including the ongoing impacts of inflation; disruptions, uncertainties and related effects on our business and operations that may result from any future outbreaks of the COVID-19 pandemic or other public health crises, including the impact on, among other things, credit quality and liquidity; the ability to identify, complete and successfully integrate new acquisitions; the risk that expected cost savings and other benefits from acquisitions may not be fully realized or may take longer to realize than expected; diversion of management time on acquisition-related issues; the availability of and access to capital and liquidity on terms acceptable to us; legislative and regulatory changes and risks and expenses associated with current and future legislation and regulations; technological changes and cybersecurity risks and incidents; the effects of changes in accounting policies and practices; changes in governmental monetary and fiscal policies; political instability, military conflicts and other major domestic or international events; adverse weather events, including hurricanes, and other natural disasters; competition from other financial institutions; potential claims, expenses and other adverse effects related to current or future litigation, regulatory examinations or other government actions; potential increases in deposit insurance assessments, increased regulatory scrutiny or market disruptions resulting from financial challenges in the banking industry; changes in the assumptions used in making the forward-looking statements; and other factors described in reports we file with the Securities and Exchange Commission (the “SEC”), including those factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 24, 2023 and our Quarterly Reports on Form 10-Q for the periods ended March 31, 2023, June 30, 2023 and September 30, 2023, filed with the SEC on May 5, 2023, August 4, 2023 and November 6, 2023, respectively.

####

FOR MORE INFORMATION CONTACT:

Donna Townsell

Director of Investor Relations

Home BancShares, Inc.

(501) 328-4625

Home BancShares, Inc.

Consolidated End of Period Balance Sheets

(Unaudited)

(In thousands)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022
ASSETS
Cash and due from banks						$	226,363					$	229,474					$	275,656					$	250,841					$	263,893
Interest-bearing deposits with other banks						773,850						258,605						335,535						437,213						460,897
Cash and cash equivalents						1,000,213						488,079						611,191						688,054						724,790
Federal funds sold						5,100						3,925						1,550						—						—
Investment securities - available-for-sale,      net of allowance for credit losses						3,507,841						3,472,173						3,645,013						3,772,138						4,041,590
Investment securities - held-to-maturity,      net of allowance for credit losses						1,281,982						1,283,475						1,285,150						1,286,373						1,287,705
Total investment securities						4,789,823						4,755,648						4,930,163						5,058,511						5,329,295
Loans receivable						14,424,728						14,271,833						14,180,972						14,386,634						14,409,480
Allowance for credit losses						(288,234)						(285,562)						(285,683)						(287,169)						(289,669)
Loans receivable, net						14,136,494						13,986,271						13,895,289						14,099,465						14,119,811
Bank premises and equipment, net						393,300						397,093						397,315						402,094						405,073
Foreclosed assets held for sale						30,486						691						725						425						546
Cash value of life insurance						214,516						213,351						213,090						214,792						213,693
Accrued interest receivable						118,966						110,946						101,066						102,740						103,199
Deferred tax asset, net						197,164						222,741						206,430						193,334						209,321
Goodwill						1,398,253						1,398,253						1,398,253						1,398,253						1,398,253
Core deposit intangible						48,770						51,023						53,500						55,978						58,455
Other assets						323,573						322,617						317,857						304,609						321,152
Total assets						$	22,656,658					$	21,950,638					$	22,126,429					$	22,518,255					$	22,883,588
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Demand and non-interest-bearing						$	4,085,501					$	4,280,429					$	4,598,593					$	4,945,729					$	5,164,997
Savings and interest-bearing transaction         accounts						11,050,347						10,786,087						11,169,940						11,392,566						11,730,552
Time deposits						1,651,863						1,452,229						1,228,358						1,107,171						1,043,234
Total deposits						16,787,711						16,518,745						16,996,891						17,445,466						17,938,783
Securities sold under agreements to repurchase						142,085						160,120						160,349						138,742						131,146
FHLB and other borrowed funds						1,301,300						1,001,550						701,550						650,000						650,000
Accrued interest payable and other liabilities						194,653						175,367						173,426						212,887						196,877
Subordinated debentures						439,834						439,982						440,129						440,275						440,420
Total liabilities						18,865,583						18,295,764						18,472,345						18,887,370						19,357,226
Stockholders' equity
Common stock						2,015						2,023						2,026						2,032						2,034
Capital surplus						2,348,023						2,363,210						2,366,560						2,375,754						2,386,699
Retained earnings						1,690,112						1,640,171						1,578,176						1,509,400						1,443,087
Accumulated other comprehensive loss						(249,075)						(350,530)						(292,678)						(256,301)						(305,458)
Total stockholders' equity						3,791,075						3,654,874						3,654,084						3,630,885						3,526,362
Total liabilities and stockholders' equity						$	22,656,658					$	21,950,638					$	22,126,429					$	22,518,255					$	22,883,588

Home BancShares, Inc.

Consolidated Statements of Income

(Unaudited)

						Quarter Ended																														Year Ended
(In thousands)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022						Dec 31, 2023						Dec 31, 2022
Interest income:
Loans						$	260,003					$	249,464					$	243,152					$	236,997					$	221,280					$	989,616					$	728,342
Investment securities
Taxable						34,016						34,520						34,751						35,288						33,639						138,575						91,933
Tax-exempt						7,855						7,868						7,932						7,963						7,855						31,618						28,356
Deposits - other banks						4,281						2,328						3,729						4,685						10,109						15,023						29,110
Federal funds sold						65						82						68						6						12						221						25
Total interest income						306,220						294,262						289,632						284,939						272,895						1,175,053						877,766
Interest expense:
Interest on deposits						87,971						78,698						70,147						59,162						47,019						295,978						85,989
Federal funds purchased						—						1						2						—						—						3						2
FHLB and other borrowed funds						9,878						8,161						6,596						6,190						5,388						30,825						11,076
Securities sold under agreements to         repurchase						1,480						1,344						1,121						868						701						4,813						1,430
Subordinated debentures						4,121						4,121						4,123						4,124						4,121						16,489						20,593
Total interest expense						103,450						92,325						81,989						70,344						57,229						348,108						119,090
Net interest income						202,770						201,937						207,643						214,595						215,666						826,945						758,676
Provision for credit losses on loans						5,650						2,800						2,300						1,200						5,000						11,950						50,170
(Recovery of) provision for credit losses on         unfunded commitments						—						(1,500)						—						—						—						(1,500)						11,410
Provision for credit losses on investment         securities						—						—						1,683						—						—						1,683						2,005
Total credit loss expense						5,650						1,300						3,983						1,200						5,000						12,133						63,585
Net interest income after credit loss expense						197,120						200,637						203,660						213,395						210,666						814,812						695,091
Non-interest income:
Service charges on deposit accounts						10,072						10,062						9,231						9,842						10,134						39,207						37,114
Other service charges and fees						10,422						10,128						11,763						11,875						10,363						44,188						44,588
Trust fees						4,316						4,660						4,052						4,864						3,981						17,892						12,855
Mortgage lending income						2,385						3,132						2,650						2,571						3,566						10,738						17,657
Insurance commissions						480						562						518						526						453						2,086						2,192
Increase in cash value of life insurance						1,170						1,170						1,211						1,104						1,079						4,655						3,800
Dividends from FHLB, FRB, FNBB & other						3,010						2,916						2,922						2,794						2,814						11,642						9,198
Gain on SBA loans						42						97						—						139						30						278						183
Gain on branches, equipment and other        assets, net						583						—						917						7						10						1,507						15
Gain on OREO, net						13						—						319						—						13						332						500
Fair value adjustment for marketable         securities						5,024						4,507						783						(11,408)						1,032						(1,094)						(1,272)
Other income						5,331						6,179						15,143						11,850						23,185						38,503						48,281
Total non-interest income						42,848						43,413						49,509						34,164						56,660						169,934						175,111
Non-interest expense:
Salaries and employee benefits						63,430						64,512						64,534						64,490						64,249						256,966						238,885
Occupancy and equipment						14,965						15,463						14,923						14,952						14,884						60,303						53,417
Data processing expense						9,107						9,103						9,151						8,968						9,062						36,329						34,942
Merger and acquisition expenses						—						—						—						—						—						—						49,594
Other operating expenses						39,673						25,684						27,674						26,234						30,708						119,265						98,789
Total non-interest expense						127,175						114,762						116,282						114,644						118,903						472,863						475,627
Income before income taxes						112,793						129,288						136,887						132,915						148,423						511,883						394,575
Income tax expense						26,550						30,835						31,616						29,953						32,736						118,954						89,313
Net income						$	86,243					$	98,453					$	105,271					$	102,962					$	115,687					$	392,929					$	305,262

Home BancShares, Inc.

Selected Financial Information

(Unaudited)

						Quarter Ended																														Year Ended
(Dollars and shares in thousands, except per share data)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022						Dec 31, 2023						Dec 31, 2022
PER SHARE DATA
Diluted earnings per common share						$	0.43					$	0.49					$	0.52					$	0.51					$	0.57					$	1.94					$	1.57
Diluted earnings per common share, as adjusted     (non-GAAP)(1)						0.46						0.47						0.51						0.54						0.53						1.97						1.93
Diluted earnings per common share, excluding FDIC special assessment (non-GAAP)(1)						0.48						0.49						0.52						0.51						0.57						1.99						1.57
Basic earnings per common share						0.43						0.49						0.52						0.51						0.57						1.94						1.57
Dividends per share - common						0.18						0.18						0.18						0.18						0.165						0.72						0.66
Book value per common share						18.81						18.06						18.04						17.87						17.33						18.81						17.33
Tangible book value per common share      (non-GAAP)(1)						11.63						10.90						10.87						10.71						10.17						11.63						10.17
STOCK INFORMATION
Average common shares outstanding						201,756						202,526						202,793						203,456						203,924						202,627						194,694
Average diluted shares outstanding						201,891						202,650						202,923						203,625						204,179						202,773						195,019
End of period common shares outstanding						201,526						202,323						202,573						203,168						203,434						201,526						203,434
ANNUALIZED PERFORMANCE METRICS
Return on average assets (ROA)						1.55		%				1.78		%				1.90		%				1.84		%				1.98		%				1.77		%				1.35		%
Return on average assets, as adjusted:      (ROA, as adjusted) (non-GAAP)(1)						1.66						1.72						1.85						1.95						1.84						1.79						1.67
Return on average assets excluding intangible      amortization (non-GAAP)(1)						1.69						1.95						2.07						2.00						2.15						1.93						1.47
Return on average assets, as adjusted, excluding      intangible amortization (non-GAAP)(1)						1.81						1.87						2.02						2.12						2.00						1.95						1.80
Return on average common equity (ROE)						9.36						10.65						11.63						11.70						13.29						10.82						9.17
Return on average common equity, as adjusted:      (ROE, as adjusted) (non-GAAP)(1)						10.00						10.25						11.33						12.38						12.35						10.97						11.29
Return on average tangible common equity      (ROTCE) (non-GAAP)(1)						15.49						17.62						19.39						19.75						22.96						18.03						15.30
Return on average tangible common equity, as adjusted:      (ROTCE, as adjusted) (non-GAAP)(1)						16.56						16.95						18.90						20.90						21.33						18.28						18.84
Return on average tangible common equity excluding      intangible amortization (non-GAAP)(1)						15.80						17.95						19.74						20.11						23.33						18.36						15.63
Return on average tangible common equity, as adjusted,      excluding intangible amortization (non-GAAP)(1)						16.87						17.29						19.24						21.26						21.70						18.62						19.17

(1)  Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.

Selected Financial Information

(Unaudited)

						Quarter Ended																														Year Ended
(Dollars in thousands)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022						Dec 31, 2023						Dec 31, 2022
Efficiency ratio						50.64		%				45.53		%				44.00		%				44.80		%				42.44		%				46.21		%				49.53		%
Efficiency ratio, as adjusted (non-GAAP)(1)						46.43						46.44						44.83						43.42						43.07						45.24						44.55
Net interest margin - FTE (NIM)						4.17						4.19						4.28						4.37						4.21						4.25						3.81
Fully taxable equivalent adjustment						$	1,091					$	1,293					$	1,494					$	1,628					$	2,017					$	5,506					$	8,663
Total revenue (net)						245,618						245,350						257,152						248,759						272,326						996,879						933,787
Pre-tax, pre-provision, net income (PPNR)      (non-GAAP)(1)						118,443						130,588						140,870						134,115						153,423						524,016						458,160
PPNR, as adjusted (non-GAAP)(1)						126,402						125,743						137,308						142,062						142,567						531,515						493,143
Pre-tax net income to total revenue (net)						45.92		%				52.70		%				53.23		%				53.43		%				54.50		%				51.35		%				42.26		%
Pre-tax net income, as adjusted, to total revenue (net) (non-GAAP)(1)						49.16						50.72						51.85						56.63						50.52						52.10						52.28
P5NR ((Pre-tax, pre-provision, profit percentage) (PPNR to total revenue (net)) (non-GAAP)(1)						48.22						53.23						54.78						53.91						56.34						52.57						49.06
P5NR, as adjusted (non-GAAP)(1)						51.46						51.25						53.40						57.11						52.35						53.32						52.81
Total purchase accounting accretion						$	2,324					$	2,431					$	2,660					$	3,172					$	3,497					$	10,587					$	16,341
Average purchase accounting loan discounts						27,397						29,915						32,546						35,482						38,552						31,334						38,055
OTHER OPERATING EXPENSES
Hurricane expense						$	—					$	—					$	—					$	—					$	176					$	—					$	176
Advertising						2,226						2,295						2,098						2,231						2,567						8,850						7,974
Amortization of intangibles						2,253						2,477						2,478						2,477						2,478						9,685						8,853
Electronic banking expense						3,599						3,709						3,675						3,330						3,914						14,313						13,632
Directors' fees						399						417						538						460						358						1,814						1,491
Due from bank service charges						274						282						286						273						273						1,115						1,255
FDIC and state assessment						16,016						2,794						3,220						3,500						2,224						25,530						8,428
Insurance						873						878						927						889						1,003						3,567						3,705
Legal and accounting						1,192						1,514						1,436						1,088						5,962						5,230						9,401
Other professional fees						1,640						2,117						2,774						2,284						2,552						8,815						8,881
Operating supplies						777						860						763						738						690						3,138						3,120
Postage						503						491						586						501						602						2,081						2,078
Telephone						515						544						573						528						576						2,160						1,890
Other expense						9,406						7,306						8,320						7,935						7,333						32,967						27,905
Total other operating expenses						$	39,673					$	25,684					$	27,674					$	26,234					$	30,708					$	119,265					$	98,789

(1) Calculation of this metric and the reconciliation to GAAP are included in the schedules accompanying this release.

Home BancShares, Inc.

Selected Financial Information

(Unaudited)

(Dollars in thousands)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022
BALANCE SHEET RATIOS
Total loans to total deposits						85.92		%				86.40		%				83.43		%				82.47		%				80.33		%
Common equity to assets						16.73						16.65						16.51						16.12						15.41
Tangible common equity to tangible assets      (non-GAAP)(1)						11.05						10.76						10.65						10.33						9.66
LOANS RECEIVABLE
Real estate
Commercial real estate loans
Non-farm/non-residential						$	5,549,954					$	5,614,259					$	5,480,738					$	5,524,125					$	5,632,063
Construction/land development						2,293,047						2,154,030						2,201,514						2,160,514						2,135,266
Agricultural						325,156						336,160						340,067						342,814						346,811
Residential real estate loans
Residential 1-4 family						1,844,260						1,808,248						1,790,218						1,748,231						1,748,551
Multifamily residential						435,736						444,239						455,754						637,633						578,052
Total real estate						10,448,153						10,356,936						10,268,291						10,413,317						10,440,743
Consumer						1,153,690						1,153,461						1,156,273						1,173,325						1,149,896
Commercial and industrial						2,324,991						2,195,678						2,288,646						2,368,428						2,349,263
Agricultural						307,327						332,608						297,743						250,851						285,235
Other						190,567						233,150						170,019						180,713						184,343
Loans receivable						$	14,424,728					$	14,271,833					$	14,180,972					$	14,386,634					$	14,409,480
ALLOWANCE FOR CREDIT LOSSES
Balance, beginning of period						$	285,562					$	285,683					$	287,169					$	289,669					$	289,203
Loans charged off						3,592						3,449						4,726						4,288						5,379
Recoveries of loans previously charged off						614						528						940						588						845
Net loans charged off						2,978						2,921						3,786						3,700						4,534
Provision for credit losses - loans						5,650						2,800						2,300						1,200						5,000
Balance, end of period						$	288,234					$	285,562					$	285,683					$	287,169					$	289,669
Net charge-offs to average total loans						0.08		%				0.08		%				0.11		%				0.10		%				0.13		%
Allowance for credit losses to total loans						2.00						2.00						2.01						2.00						2.01
NON-PERFORMING ASSETS
Non-performing loans
Non-accrual loans						$	59,971					$	84,184					$	49,627					$	65,401					$	51,011
Loans past due 90 days or more						4,130						6,674						10,869						8,567						9,845
Total non-performing loans						64,101						90,858						60,496						73,968						60,856
Other non-performing assets
Foreclosed assets held for sale, net						30,486						691						725						425						546
Other non-performing assets						785						64						64						74						74
Total other non-performing assets						31,271						755						789						499						620
Total non-performing assets						$	95,372					$	91,613					$	61,285					$	74,467					$	61,476
Allowance for credit losses for loans to non-performing loans						449.66		%				314.29		%				472.23		%				388.23		%				475.99		%
Non-performing loans to total loans						0.44						0.64						0.43						0.51						0.42
Non-performing assets to total assets						0.42						0.42						0.28						0.33						0.27

(1) Calculation of this metric and the reconciliation to GAAP is included in the schedules accompanying this release.

Home BancShares, Inc.

Consolidated Net Interest Margin

(Unaudited)

						Three Months Ended
						December 31, 2023																		September 30, 2023
(Dollars in thousands)						Average Balance						Income/ Expense						Yield/ Rate						Average Balance						Income/ Expense						Yield/ Rate
ASSETS
Earning assets
Interest-bearing balances due from banks						$	337,821					$	4,281					5.03		%				$	197,336					$	2,328					4.68		%
Federal funds sold						4,716						65						5.47						4,859						82						6.70
Investment securities - taxable						3,444,715						34,016						3.92						3,598,513						34,520						3.81
Investment securities - non-taxable - FTE						1,263,567						8,880						2.79						1,272,680						9,034						2.82
Loans receivable - FTE						14,336,613						260,069						7.20						14,191,461						249,591						6.98
Total interest-earning assets						19,387,432						307,311						6.29						19,264,849						295,555						6.09
Non-earning assets						2,669,008																		2,637,585
Total assets						$	22,056,440																	$	21,902,434
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts						$	10,912,668					$	73,026					2.65		%				$	10,923,936					$	68,067					2.47		%
Time deposits						1,564,682						14,945						3.79						1,319,126						10,631						3.20
Total interest-bearing deposits						12,477,350						87,971						2.80						12,243,062						78,698						2.55
Federal funds purchased						—						—						—						54						1						7.35
Securities sold under agreement to          repurchase						162,102						1,480						3.62						154,687						1,344						3.45
FHLB and other borrowed funds						905,689						9,878						4.33						773,345						8,161						4.19
Subordinated debentures						439,906						4,121						3.72						440,054						4,121						3.72
Total interest-bearing liabilities						13,985,047						103,450						2.93						13,611,202						92,325						2.69
Non-interest bearing liabilities
Non-interest bearing deposits						4,212,665																		4,434,394
Other liabilities						202,008																		189,499
Total liabilities						18,399,720																		18,235,095
Shareholders' equity						3,656,720																		3,667,339
Total liabilities and shareholders' equity						$	22,056,440																	$	21,902,434
Net interest spread																		3.36		%																3.40		%
Net interest income and margin - FTE												$	203,861					4.17												$	203,230					4.19

Home BancShares, Inc.

Consolidated Net Interest Margin

(Unaudited)

						Year Ended
						December 31, 2023																		December 31, 2022
(Dollars in thousands)						Average Balance						Income/ Expense						Yield/ Rate						Average Balance						Income/ Expense						Yield/ Rate
ASSETS
Earning assets
Interest-bearing balances due from banks						$	319,733					$	15,023					4.70		%				$	2,444,541					$	29,110					1.19		%
Federal funds sold						3,864						221						5.72						1,519						25						1.65
Investment securities - taxable						3,655,632						138,575						3.79						3,582,664						91,933						2.57
Investment securities - non-taxable - FTE						1,276,566						36,727						2.88						1,178,561						36,363						3.09
Loans receivable - FTE						14,314,732						990,013						6.92						12,940,998						728,998						5.63
Total interest-earning assets						19,570,527						1,180,559						6.03						20,148,283						886,429						4.40
Non-earning assets						2,647,383																		2,405,057
Total assets						$	22,217,910																	$	22,553,340
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts						$	11,162,244					$	258,586					2.32		%				$	11,520,781					$	81,061					0.70		%
Time deposits						1,284,156						37,392						2.91						1,033,431						4,928						0.48
Total interest-bearing deposits						12,446,400						295,978						2.38						12,554,212						85,989						0.68
Federal funds purchased						44						3						6.82						220						2						0.91
Securities sold under agreement to          repurchase						149,014						4,813						3.23						129,006						1,430						1.11
FHLB and other borrowed funds						753,152						30,825						4.09						473,839						11,076						2.34
Subordinated debentures						440,125						16,489						3.75						515,049						20,593						4.00
Total interest-bearing liabilities						13,788,735						348,108						2.52						13,672,326						119,090						0.87
Non-interest bearing liabilities
Non-interest bearing deposits						4,599,241																		5,378,906
Other liabilities						198,634																		171,390
Total liabilities						18,586,610																		19,222,622
Shareholders' equity						3,631,300																		3,330,718
Total liabilities and shareholders' equity						$	22,217,910																	$	22,553,340
Net interest spread																		3.51		%																3.53		%
Net interest income and margin - FTE												$	832,451					4.25												$	767,339					3.81

Home BancShares, Inc.

Non-GAAP Reconciliations

(Unaudited)

						Quarter Ended																														Year Ended
(Dollars and shares in thousands, except per share data)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022						Dec 31, 2023						Dec 31, 2022
EARNINGS, AS ADJUSTED
GAAP net income available to common shareholders (A)						$	86,243					$	98,453					$	105,271					$	102,962					$	115,687					$	392,929					$	305,262
Pre-tax adjustments
FDIC special assessment						12,983						—						—						—						—						12,983						—
BOLI death benefits						—						(338)						(2,779)						—						—						(3,117)						—
Merger and acquisition expenses						—						—						—						—						—						—						49,594
Initial provision for credit losses - acquisition						—						—						—						—						—						—						58,585
Fair value adjustment for marketable securities						(5,024)						(4,507)						(783)						11,408						(1,032)						1,094						1,272
Special dividend from equity investment						—						—						—						—						—						—						(1,434)
TRUPS redemption fees						—						—						—						—						—						—						2,081
Special lawsuit settlement, net of expense						—						—						—						—						(10,000)						—						(10,000)
Recoveries on historic losses						—						—						—						(3,461)						—						(3,461)						(6,706)
Hurricane expense						—						—						—						—						176						—						176
Total pre-tax adjustments						7,959						(4,845)						(3,562)						7,947						(10,856)						7,499						93,568
Tax-effect of adjustments						1,989						(1,112)						(879)						1,961						(2,679)						1,959						22,890
Total adjustments after-tax (B)						5,970						(3,733)						(2,683)						5,986						(8,177)						5,540						70,678
Earnings, as adjusted (C)						$	92,213					$	94,720					$	102,588					$	108,948					$	107,510					$	398,469					$	375,940
Average diluted shares outstanding (D)						201,891						202,650						202,923						203,625						204,179						202,773						195,019
GAAP diluted earnings per share: (A/D)						$	0.43					$	0.49					$	0.52					$	0.51					$	0.57					$	1.94					$	1.57
Adjustments after-tax: (B/D)						0.03						(0.02)						(0.01)						0.03						(0.04)						0.03						0.36
Diluted earnings per common share, as adjusted: (C/D)						$	0.46					$	0.47					$	0.51					$	0.54					$	0.53					$	1.97					$	1.93
EARNINGS, EXCLUDING FDIC SPECIAL ASSESSMENT
GAAP net income available to common shareholders						$	86,243					$	98,453					$	105,271					$	102,962					$	115,687					$	392,929					$	305,262
FDIC special assessment						12,983						—						—						—						—						12,983						—
Tax-effect of FDIC special assessment						3,244						—						—						—						—						3,244						—
Adjustment after-tax						9,739						—						—						—						—						9,739						—
Earnings, excluding FDIC special assessment (A)						$	95,982					$	98,453					$	105,271					$	102,962					$	115,687					$	402,668					$	305,262
Average diluted shares outstanding (B)						201,891						202,650						202,923						203,625						204,179						202,773						195,019
Diluted earnings per common share, as adjusted: (A/B)						$	0.48					$	0.49					$	0.52					$	0.51					$	0.57					$	1.99					$	1.57
ANNUALIZED RETURN ON AVERAGE ASSETS
Return on average assets: (A/E)						1.55		%				1.78		%				1.90		%				1.84		%				1.98		%				1.77		%				1.35		%
Return on average assets, as adjusted: (ROA, as adjusted) ((A+D)/E)						1.66						1.72						1.85						1.95						1.84						1.79						1.67
Return on average assets excluding intangible amortization: ((A+C)/(E-F))						1.69						1.95						2.07						2.00						2.15						1.93						1.47
Return on average assets, as adjusted, excluding intangible amortization: ((A+C+D)/(E-F))						1.81						1.87						2.02						2.12						2.00						1.95						1.80
GAAP net income available to common shareholders (A)						$	86,243					$	98,453					$	105,271					$	102,962					$	115,687					$	392,929					$	305,262
Amortization of intangibles (B)						2,253						2,477						2,478						2,477						2,478						9,685						8,853
Amortization of intangibles after-tax (C)						1,690						1,866						1,866						1,866						1,866						7,288						6,624
Adjustments after-tax (D)						5,970						(3,733)						(2,683)						5,986						(8,177)						5,540						70,678
Average assets (E)						22,056,440						21,902,434						22,227,404						22,695,855						23,187,005						22,217,910						22,553,340
Average goodwill & core deposit intangible (F)						1,448,061						1,450,478						1,452,951						1,455,423						1,454,639						1,451,705						1,335,216

Home BancShares, Inc.

Non-GAAP Reconciliations

(Unaudited)

						Quarter Ended																														Year Ended
(Dollars in thousands)						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022						Dec 31, 2023						Dec 31, 2022
ANNUALIZED RETURN ON AVERAGE COMMON EQUITY
Return on average common equity: (A/D)						9.36		%				10.65		%				11.63		%				11.70		%				13.29		%				10.82		%				9.17		%
Return on average common equity, as adjusted: (ROE, as adjusted) ((A+C)/D)						10.00						10.25						11.33						12.38						12.35						10.97						11.29
Return on average tangible common equity:     (A/(D-E))						15.49						17.62						19.39						19.75						22.96						18.03						15.30
Return on average tangible common equity, as adjusted: (ROTCE, as adjusted) ((A+C)/(D-E))						16.56						16.95						18.90						20.90						21.33						18.28						18.84
Return on average tangible common equity excluding intangible amortization: (B/(D-E))						15.80						17.95						19.74						20.11						23.33						18.36						15.63
Return on average tangible common equity, as adjusted, excluding intangible amortization: ((B+C)/(D-E))						16.87						17.29						19.24						21.26						21.70						18.62						19.17
GAAP net income available to common shareholders (A)						$	86,243					$	98,453					$	105,271					$	102,962					$	115,687					$	392,929					$	305,262
Earnings excluding intangible amortization (B)						87,933						100,319						107,137						104,828						117,553						400,217						311,886
Adjustments after-tax (C)						5,970						(3,733)						(2,683)						5,986						(8,177)						5,540						70,678
Average common equity (D)						3,656,720						3,667,339						3,630,194						3,569,592						3,454,005						3,631,300						3,330,718
Average goodwill & core deposits intangible (E)						1,448,061						1,450,478						1,452,951						1,455,423						1,454,639						1,451,705						1,335,216
EFFICIENCY RATIO & P5NR
Efficiency ratio: ((D-H)/(B+C+E))						50.64		%				45.53		%				44.00		%				44.80		%				42.44		%				46.21		%				49.53		%
Efficiency ratio, as adjusted: ((D-H-J)/(B+C+E-I))						46.43						46.44						44.83						43.42						43.07						45.24						44.55
Pre-tax net income to total revenue (net) (A/(B+C))						45.92						52.70						53.23						53.43						54.50						51.35						42.26
Pre-tax net income, as adjusted, to total revenue (net) ((A+F)/(B+C))						49.16						50.72						51.85						56.63						50.52						52.10						52.28
Pre-tax, pre-provision, net income (PPNR) (B+C-D)						$	118,443					$	130,588					$	140,870					$	134,115					$	153,423					$	524,016					$	458,160
Pre-tax, pre-provision, net income, as adjusted (B+C-D+F-G)						126,402						125,743						137,308						142,062						142,567						531,515						493,143
P5NR ((Pre-tax, pre-provision, profit percentage) PPNR to total revenue (net)) (B+C-D)/(B+C)						48.22		%				53.23		%				54.78		%				53.91		%				56.34		%				52.57		%				49.06		%
P5NR, as adjusted (B+C-D+F-G)/(B+C)						51.46						51.25						53.40						57.11						52.35						53.32						52.81
Pre-tax net income (A)						$	112,793					$	129,288					$	136,887					$	132,915					$	148,423					$	511,883					$	394,575
Net interest income (B)						202,770						201,937						207,643						214,595						215,666						826,945						758,676
Non-interest income (C)						42,848						43,413						49,509						34,164						56,660						169,934						175,111
Non-interest expense (D)						127,175						114,762						116,282						114,644						118,903						472,863						475,627
Fully taxable equivalent adjustment (E)						1,091						1,293						1,494						1,628						2,017						5,506						8,663
Total pre-tax adjustments (F)						7,959						(4,845)						(3,562)						7,947						(10,856)						7,499						93,568
Initial provision for credit losses - acquisition (G)						—						—						—						—						—						—						58,585
Amortization of intangibles (H)						2,253						2,477						2,478						2,477						2,478						9,685						8,853
Adjustments:
Non-interest income:
Fair value adjustment for marketable securities						$	5,024					$	4,507					$	783					$	(11,408)					$	1,032					$	(1,094)					$	(1,272)
Gain on OREO						13						—						319						—						13						332						500
Gain (loss) on branches, equipment and other assets, net						583						—						917						7						10						1,507						15
Special dividend from equity investment						—						—						—						—						—						—						1,434
Lawsuit settlement - special lawsuit						—						—						—						—						15,000						—						15,000
BOLI death benefits						—						338						2,779						—						—						3,117						—
Recoveries on historic losses						—						—						—						3,461						—						3,461						6,706
Total non-interest income adjustments (I)						$	5,620					$	4,845					$	4,798					$	(7,940)					$	16,055					$	7,323					$	22,383
Non-interest expense:
FDIC special assessment						12,983						—						—						—						—						12,983						—
Merger and acquisition expenses						—						—						—						—						—						—						49,594
Hurricane expense						—						—						—						—						176						—						176
Legal expense - special lawsuit						—						—						—						—						5,000						—						5,000
TRUPS redemption fees						—						—						—						—						—						—						2,081
Total non-interest expense adjustments (J)						$	12,983					$	—					$	—					$	—					$	5,176					$	12,983					$	56,851

Home BancShares, Inc.

Non-GAAP Reconciliations

(Unaudited)

						Quarter Ended
						Dec 31, 2023						Sep 30, 2023						Jun 30, 2023						Mar 31, 2023						Dec 31, 2022
TANGIBLE BOOK VALUE PER COMMON SHARE
Book value per common share: (A/B)						$	18.81					$	18.06					$	18.04					$	17.87					$	17.33
Tangible book value per common share: ((A-C-D)/B)						11.63						10.90						10.87						10.71						10.17
Total stockholders' equity (A)						$	3,791,075					$	3,654,874					$	3,654,084					$	3,630,885					$	3,526,362
End of period common shares outstanding (B)						201,526						202,323						202,573						203,168						203,434
Goodwill (C)						1,398,253						1,398,253						1,398,253						1,398,253						1,398,253
Core deposit and other intangibles (D)						48,770						51,023						53,500						55,978						58,455
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS
Equity to assets: (B/A)						16.73		%				16.65		%				16.51		%				16.12		%				15.41		%
Tangible common equity to tangible assets: ((B-C-D)/(A-C-D))						11.05						10.76						10.65						10.33						9.66
Total assets (A)						$	22,656,658					$	21,950,638					$	22,126,429					$	22,518,255					$	22,883,588
Total stockholders' equity (B)						3,791,075						3,654,874						3,654,084						3,630,885						3,526,362
Goodwill (C)						1,398,253						1,398,253						1,398,253						1,398,253						1,398,253
Core deposit and other intangibles (D)						48,770						51,023						53,500						55,978						58,455