Parent company of Centennial Bank announces $4.4 million recovery

Conway, AR – Home BancShares, Inc. (NASDAQ GS:  HOMB), parent company of Centennial Bank, today announced it has recovered $4.4 million in charged off loans from a previously reported loss in the fourth quarter of 2010.

Debt settlement arrangements of $4.4 million were completed last week with $3 million received from New York litigation and $1.4 million from collection action in Arkansas.  These funds will be added to the bank’s loan loss reserves. 

“In January, when Home BancShares released our 2010 fourth quarter results, we promised to aggressively pursue repayment of charge offs,” said John Allison, Chairman.  “This recovery is important, but make no mistake additional collection efforts will continue for any and all charge-offs we’ve incurred.”

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 locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, and the Florida Panhandle. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol "HOMB."