HOME BANCSHARES INC
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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Dec 31, 2023 · Filed Mar 1, 2024
Contents
Appendix A
Appendix A
Reconciliation of Non-GAAP Financial Measures
Our accounting and reporting policies conform to generally accepted accounting principles in the United States (“GAAP”) and the prevailing practices in the banking industry. However, this Proxy Statement contains financial information determined by methods other than in accordance with GAAP, including earnings, as adjusted, diluted earnings per share, as adjusted and return on average assets, as adjusted. We believe these non-GAAP measures, when taken together with the corresponding GAAP measures, provides meaningful supplemental information regarding our performance. We believe investors benefit from referring to these non-GAAP measures in assessing our financial condition and results of operations, and when planning and forecasting future periods. However, these non-GAAP measures should be considered in addition to, and not as a substitute for or preferable to, the corresponding measures prepared in accordance with GAAP. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the following tables.
Table 1: Earnings, As Adjusted
(In thousands)
| 12/31/2023 | |
|---|---|
| GAAP net income available to common shareholders (A) | $392,929 |
| Pre-tax adjustments | |
| FDIC special assessment | 12,983 |
| BOLI death benefits | (3,117) |
| Merger and acquisition expenses | — |
| Initial provision for credit losses - acquisition | — |
| Fair value adjustment for marketable securities | 1,094 |
| Special dividend from equity investment | — |
| TRUPS redemption fees | — |
| Special lawsuit settlement, net of expense | — |
| Recoveries on historic losses | (3,461) |
| Hurricane expense | — |
| Total pre-tax adjustments | 7,499 |
| Tax-effect of adjustments | 1,959 |
| Total adjustments after-tax (B) | 5,540 |
| Earnings, as adjusted (C) | 398,469 |
| Average diluted shares outstanding (D) | 202,773 |
| GAAP diluted earnings per share: (A/D) | $1.94 |
| Adjustments after-tax: (B/D) | 0.03 |
| Diluted earnings per common share, as adjusted: (C/D) | $1.97 |
Table 1: Return on Average Assets, As Adjusted
(In thousands)
| 12/31/2023 | |
|---|---|
| Return on average assets: (A/C) | 1.77% |
| Return on average assets, as adjusted: (ROA, as adjusted) ((A+B)/C) | 1.79% |
| GAAP net income available to common shareholders (A) | 392,929 |
| Adjustments after-tax (B) | 5,540 |
| Average assets (C) | 22,217,910 |
| A-1 | www.homebancshares.com |
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