Home Bancshares 3Q Profit In Line With Year Ago

CONWAY, Ark. (AP) — Bank holding company Home BancShares Inc. said Thursday it posted a third quarter profit in line with a year ago results as net interest income rose but was partially offset by higher losses from unpaid loans.

Net income available to common shareholders, that which is figured after preferred dividends are paid, was $6.57 million, or 32 cents per share, compared with $6.56 million, or 32 cents per share a year ago.

Analysts surveyed by Thomson Reuters expected 29 cents per share.

Shares rose 29 cents, or 1.3 percent, to $23.01.

Charge-offs, loans written off as not being repaid, rose to $4.1 million from $1.6 million the year before.

Net interest income, the difference between how much it costs a bank to borrow money and how much it receives from lending to customers, rose to $23.7 million from $21.9 million the year before.

Including the provision for loan losses, interest income of $20.1 million was nearly flat with the $20.4 million record in the same period a year ago.

Non-interest income, money derived from fees and other charges, fell to $7.6 million from $7.8 million a year ago.