Home BancShares, Inc. Increases Share Repurchase Program
Source: Nasdaq GlobeNewswire / 22 Jan 2019 08:15:12 America/New_York
CONWAY, Ark., Jan. 22, 2019 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (Nasdaq: HOMB) (“Home” or “the Company”), parent company of Centennial Bank (“Centennial”), announced today that the Board of Directors on January 18, 2019 authorized an increase of 5,000,000 in the number of shares of the Company’s stock available under its common stock repurchase program which was approved by the Board in January 2008 and most recently amended in February 2018. As of December 31, 2018, a total of approximately 4,900,000 shares remained available for repurchase under the existing repurchase authorization which will increase to approximately 9,900,000 shares available for repurchase with this authorization.
“The Board approval of additional shares positions us to be opportunistic,” said John Allison, Home BancShares, Inc. Chairman. “This allows us to have lots of powder.”
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our 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, South Alabama and New York City. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”
This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. 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 of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk 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, the ability to successfully integrate new acquisitions, increased regulatory requirements as a result of our exceeding $10 billion in total assets, legislative and regulatory changes, technological changes and cybersecurity risks, competition from other financial institutions, 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, 2017 filed with the SEC on February 27, 2018.
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