Home BancShares jumps to No. 8 on Forbes list of ‘Best Banks’

by Talk Business & Politics staff (staff2@talkbusiness.net) 117 views 

Home BancShares, parent company of Centennial Bank, has climbed seven spots to No. 8 on Forbes’ Best Banks in America list, according to a news release. The Conway-based holding company, with bank branches in Arkansas, Florida, Alabama and New York City, was No. 15 in 2016 and No. 25 in 2015.

Over the past eight years, Forbes magazine has ranked the largest banks in America using financial data from S&P Global Market Intelligence.

“We are honored to be recognized among the strongest, most reliable banking institutions in the country for the third year in a row,” chairman John Allison said. “This kind of distinction is a direct reflection of the talented associates we employ, the customers who entrust us with their finances and the communities we serve.”

Home BancShares was third in return on tangible common equity and efficiency ratio metrics. The company has a 20% return on tangible common equity and less than 40% efficiency ratio, Allison said. “Shareholders can remain confident that our strong metrics will continue to provide them with solid returns.”

In making the list, Forbes ranked banks that had assets between $8 billion and $2.5 trillion, looking at 10 metrics regarding growth, profitability, capital adequacy and asset quality. The metrics were based on regulatory filings for the period ending Sept. 30, 2016. Little Rock-based Bank of the Ozarks was No. 11 on the list, while Simmons First National Corp. of Pine Bluff was No. 38.

Shares of Home BancShares (Nasdaq: HOMB) were $28.45, down 8 cents or 0.28% at mid-morning Wednesday (March 8). In the past 52 weeks, the stock has traded between $29.69 and $18.32.