Item 5. Market for Registrant’s Common Equity
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock is listed on the New York Stock Exchange under the symbol “HOMB.” As of February 12, 2026, there were approximately 1,411 stockholders of record of the Company’s common stock.
Our policy is to declare regular quarterly dividends based upon our earnings, financial position, capital improvements and such other factors deemed relevant by the Board of Directors. We currently expect to continue declaring and paying quarterly cash dividends comparable to our historical quarterly dividend payments. Our dividend policy is subject to change, however, and the payment of dividends is not necessarily dependent upon the availability of earnings and future financial condition. Information regarding regulatory restrictions on our ability to pay dividends is discussed in “Supervision and Regulation – Payment of Dividends.”
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During the three months ended December 31, 2025, the Company utilized a portion of its stock repurchase program most recently amended and approved by the Board of Directors on January 17, 2025, which renewed the authorization to 20,000,000 shares. The following table sets forth information with respect to purchases made by or on behalf of the Company of shares of the Company’s common stock during the periods indicated:
Issuer Purchases of Equity Securities
Period Number of
Shares
Purchased
Average Price
Paid Per Share
Purchased Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under the Plans or Programs (1)
October 1 through October 31, 2025 270,706 $ 27.31 270,706 17,379,294
November 1 through November 30, 2025 200,000 26.86 200,000 17,179,294
December 1 through December 31, 2025 70,000 28.36 70,000 17,109,294
Total 540,706 540,706
(1) The above described stock repurchase program has no expiration date .
Performance Graph
Below is a graph which summarizes the cumulative return earned by the Company’s stockholders since December 31, 2020, compared with the cumulative total return on the Russell 2000 Index and S&P U.S. BMI Banks Index. This presentation assumes that the fair value of the investment in the Company's common stock and each index was $100.00 on December 31, 2020 and that the subsequent dividends were reinvested.
Period Ending
Index 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25
Home BancShares, Inc. 100.00 127.89 123.11 141.36 162.52 164.02
Russell 2000 Index 100.00 114.82 91.35 106.82 119.14 134.40
S&P U.S. BMI Banks Index 100.00 135.97 112.77 123.02 164.70 211.47
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Item 6. SELECTED FINANCIAL DATA.
Summary Consolidated Financial Data
As of or for the Years Ended December 31,
2025 2024 2023
(Dollars and shares in thousands, except per share data)
Income statement data:
Total interest income $ 1,278,820 $ 1,299,777 $ 1,175,053
Total interest expense 386,460 451,003 348,108
Net interest income 892,360 848,774 826,945
Provision for credit losses 20,905 48,070 12,133
Net interest income after provision for credit losses 871,455 800,704 814,812
Non-interest income 198,509 168,574 169,934
Non-interest expense 458,169 446,936 472,863
Income before income taxes 611,795 522,342 511,883
Income tax expense 136,354 120,101 118,954
Net income $ 475,441 $ 402,241 $ 392,929
Per share data:
Basic earnings per common share $ 2.41 $ 2.01 $ 1.94
Diluted earnings per common share 2.41 2.01 1.94
Book value per common share 21.88 19.92 18.81
Tangible book value per common share (non-GAAP) (1)(2)
14.60 12.68 11.63
Dividends – common 0.805 0.75 0.72
Average common shares outstanding 197,448 199,939 202,627
Average diluted shares outstanding 197,651 200,069 202,773
Performance ratios:
Return on average assets 2.10 % 1.77 % 1.77 %
Return on average assets excluding intangible amortization (non-GAAP) (3)
2.26 1.92 1.93
Return on average common equity 11.61 10.43 10.82
Return on average tangible common equity excluding intangible amortization (non-GAAP) (1)(4)
18.10 16.92 18.36
Net interest margin (5)
4.51 4.27 4.25
Efficiency ratio 40.88 42.74 46.21
Efficiency ratio, as adjusted (non-GAAP) (6)
41.29 42.65 45.24
Asset quality:
Non-performing assets to total assets 0.55 0.63 0.42
Non-performing loans to total loans 0.54 0.67 0.44
Allowance for credit losses to non-performing loans 350.17 278.99 449.66
Allowance for credit losses to total loans 1.90 1.87 2.00
Net charge-offs to average total loans 0.02 0.41 0.09
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Summary Consolidated Financial Data – Continued
As of the Years Ended December 31,
2025 2024
(Dollars and shares in thousands, except per share data)
Balance sheet data (period end):
Total assets $ 22,881,879 $ 22,490,748
Investment securities – available-for-sale 2,871,931 3,072,639
Investment securities – held-to-maturity 1,259,262 1,275,204
Loans receivable 15,686,209 14,764,500
Allowance for credit losses (297,583) (275,880)
Intangible assets 1,430,546 1,438,580
Non-interest-bearing deposits 3,868,405 4,006,115
Total deposits 17,479,957 17,146,297
Subordinated debentures
279,265 439,246
Stockholders' equity 4,296,871 3,961,025
Capital ratios:
Common equity to assets 18.78 % 17.61 %
Tangible common equity to tangible assets (non-GAAP) (1)(7)
13.36 11.98
Common equity Tier 1 capital 16.30 15.11
Tier 1 leverage ratio (8)
14.09 13.05
Tier 1 risk-based capital ratio 16.30 15.11
Total risk-based capital ratio 19.06 18.74
Dividend payout - common 33.43 37.29
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(1) Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis.
(2) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Table 31,” for the non-GAAP tabular reconciliation.
(3) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Table 32,” for the non-GAAP tabular reconciliation.
(4) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Table 33,” for the non-GAAP tabular reconciliation.
(5) Fully taxable equivalent (assuming an income tax rate of 24.989% for 2023, 24.433% for 2024 and 24.359% for 2025).
(6) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Table 35,” for the non-GAAP tabular reconciliation.
(7) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Table 34,” for the non-GAAP tabular reconciliation.
(8) Leverage ratio is Tier 1 capital to quarterly average total assets less intangible assets and gross unrealized gains/losses on available-for-sale investment securities.
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