A jump from the eighth position in 2017 straight up to the first spot in Forbes 2018’s list of ‘Best Banks in America’, has made the Arkansas-based Home BancShares, Inc. the most trustworthy bank of the country. As per this year’s Forbes report, Home BancShares, operating under the name Centennial Bank, is on the top spot in the list from number eight in 2017, beating Western Alliance Bancorp in the race. Interestingly, Bank of Ozarks (again, an Arkansas-based bank) took over the third spot. The financial data was extracted from the data research company, S&P Global Market Intelligence, by Forbes for their list of ‘Best Banks in America.’
On the same, Chairman of Home BancShares Inc., John Allison expressed his contentment as he called it an esteemed moment for the bank’s name to be identified as the best bank. He especially thanked the bank account holders and communities for trusting them and furthermore, boosting their performance. A special mention was made to Forbes for acknowledging the hard work and accomplishments of the bank by honoring them with the ‘Best Bank in America’ title.
The ranks were gauged on equally balanced metrics with respect to credit quality, asset quality, profitability, growth, and capital adequacy, data of which was based on the statutory filings for the duration concluding on September 30, 2017. Various factors, which include tangible equity on an average, a percent of total loans as net charge-offs, efficiency ratio, net interest margin, and non-performing assets were taken into consideration whilst forming the list.
Launched in 1999, the $14 billion bank, Home BancShares Inc., has since expanded across four states with 172 branches (consequential presence in Florida Panhandle) and HQ based out of Conway. Since 1999, the bank has consistently managed to upscale its growth with 22 acquisitions of public banks.
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What makes Home BancShares the ‘Best American Bank’?
In the third quarter of 2017, the bank managed to complete its $2.89 billion takeover of the Stonegate Bank and raked in outstanding scores among the top six banks for the return on average of the total common equity (16.2%), net interest margin (4.7%), return on average assets (1.5%), and cost-effectiveness ratio (42%). Home BancShares Inc., has not just won the trust of its bank account holders but also given Forbes reason to believe in its success.
What must you know about the Home BancShares?
Initiated with a transparent idea to build a community banking-based franchise, Home BancShares now enjoys a goodwill and trust of bank account holders and shareholders, who are onboard with their community banking philosophy. Their customer-centric approach has earned them the loyalty of their account holders as well as brought the successful franchise on the map of the American financial sector. The bank provides an extensive range of banking and financial services for the community, commercial, businesses, investors, individuals who are account holders in the bank, real estate developers, and municipalities. The company is identified by the “HOMB” symbol at the NASDAQ stock market.
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