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Section 1: 11-K (11-K)

homb-11k_20191231.htm

Table of Contents

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

(Mark One)

 

Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the Fiscal Year Ended December 31, 2019

or

Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the transition period from                      to                     

Commission file number: 000-51904

 

 

A.

Full title of the plan and the address of the plan, if different from that of the issuer named below:

HOME BANCSHARES, INC. 401(K) AND EMPLOYEE STOCK OWNERSHIP PLAN

 

B.

Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Home BancShares, Inc.

719 Harkrider, Suite 100

Conway, Arkansas 72032

 


Table of Contents

Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

Form 11-K

Index

 

 

Page No.

Report of Independent Registered Public Accounting Firm

1

 

 

Statement of Net Assets Available for Benefits

2

 

 

Statement of Changes in Net Assets Available for Benefits

3

 

 

Notes to Financial Statements

4

 

 

Schedule H, Line 4i – Schedule of Assets (held at end of year)

9

 

 

Signature

10

 

 

EX-23.1 Consent of Hancock Askew & Co., LLP

 

 

 

 

 


Table of Contents

Report of Independent Registered Public Accounting Firm

The Plan Administrator and Participants

Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

Conway, Arkansas

Opinion on the Financial Statements

We have audited the accompanying statement of net assets available for benefits of the Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan (the Plan) as of December 31, 2019, the related statement of changes in net assets available for benefits for the year then ended, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2019, and the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Supplemental Information

The supplemental information in the accompanying supplemental schedule of assets (held at end of year) as of December 31, 2019 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Hancock Askew & Co., LLP

We have served as the Plan’s auditor since 2020.

Savannah, Georgia

June 29, 2020

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Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

Statement of Net Assets Available for Benefits

 

 

 

December 31,

 

 

 

2019

 

Assets

 

 

 

 

Investments, at fair value:

 

 

 

 

Cash

 

$

1,247,075

 

Mutual funds

 

 

47,475,111

 

Home BancShares, Inc. common stock

 

 

20,742,883

 

Total investments, at fair value

 

 

69,465,069

 

Receivables:

 

 

 

 

Notes receivable from participants

 

$

1,605,642

 

Total receivables

 

 

1,605,642

 

Liabilities:

 

 

 

 

Excess contribution payable

 

 

262,193

 

Net assets available for benefits

 

$

70,808,518

 

 

See accompanying notes to the Financial Statements.

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Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

Statement of Changes in Net Assets Available for Benefits

 

 

 

Year Ended

December 31, 2019

 

Additions to net assets attributed to:

 

 

 

 

Net appreciation in fair value of investments

 

$

5,869,666

 

Interest and dividends

 

 

2,113,683

 

Total investment income

 

 

7,983,349

 

Interest income on notes receivable from participants

 

 

78,980

 

Contributions:

 

 

 

 

Employer

 

 

1,904,051

 

Participant

 

 

5,655,731

 

Rollover

 

 

577,462

 

Total contributions

 

 

8,137,244

 

Total additions

 

 

16,199,573

 

Deductions from net assets attributed to:

 

 

 

 

Benefit payments to participants

 

 

3,474,970

 

Refund of excess contributions

 

 

262,193

 

Administrative expenses and fees

 

 

70,647

 

Total deductions

 

 

3,807,810

 

Net increase

 

 

12,391,763

 

 

 

 

 

 

Transfer from Home BancShares, Inc. 401(k) Plan

 

 

58,416,755

 

 

 

 

 

 

Net assets available for benefits – beginning of year

 

 

 

Net assets available for benefits – end of year

 

$

70,808,518

 

 

See accompanying notes to the Financial Statements.

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Table of Contents

Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

Notes to Financial Statements

December 31, 2019

1.

Description of the Plan

The following description of the Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan (the “Plan”) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.

General

The Plan is a defined contribution employee stock ownership plan which covers substantially all employees of Home BancShares, Inc. (the “Company”, “Plan Sponsor”, or “Employer”) and its subsidiary, who have attained age 21. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

The Plan was effective January 1, 2019, and on January 31, 2019, the Home Bancshares, Inc. 401(k) Plan assets available for benefits, totaling $58,416,755, were transferred to the Plan. After transfer of assets from the previously existing defined contribution 401(k) plan, the previously existing plan was terminated. The Company filed an S-8 on February 22, 2019 to register 2,000,000 shares of Home BancShares, Inc. common stock that participants may invest in through the plan. Also, effective February 2019, the Home BancShares, Inc. common stock fund was converted from a common stock fund in which shares owned were valued at the NAV of the shares held in the Company’s unitized stock fund to common stock in which the shares owned are valued at the closing priced reported on the NASDAQ stock exchange.

Contributions

Each year participants may contribute a portion of their annual compensation, as defined by the Plan and subject to Internal Revenue Service (the “IRS”) limitations. Participants may also contribute amounts representing distributions from other qualified defined benefit or contribution plans (“rollovers”). Participants are eligible to receive discretionary matching contributions upon meeting eligibility requirements to participate in the Plan. During the year ended December 31, 2019, participants received a match of 50% of the first 6% of their deferrals, in the amount of $1,904,051.

The Employer may also make a discretionary contribution on a pro rata basis for all eligible participants. The Employer did not make a discretionary contribution for 2019. Participants are eligible to share in the allocation of employer contributions, if during the year the participant has been credited with at least 1,000 hours of service and is employed on the last day of the year, (unless termination of employment was a result of retirement, disability, or death).

Participants direct their contributions and employer contributions into various investment options offered by the Plan. One of the investment options is the Employer’s common stock.

Participant Accounts

Each participant’s account is credited with the participant’s contributions and allocations of (a) the Employer’s contribution and (b) Plan earnings and losses, and charged with any benefit payments and administrative expenses, for which they are directly responsible. Plan earnings and losses are allocated based on participant account balances, as defined by the Plan. A participant is entitled to the benefit that can be provided from the individual participant’s vested account.

Payment of Benefits

Upon retirement, disability, death, or termination of employment, the total vested value of a participant’s account that exceeds $5,000 is distributed to the participant or his or her beneficiary, as applicable, in a lump sum of cash unless the participant or the beneficiary elects certain other forms of distribution available under the Plan. If the vested value of a participant’s account is less than $1,000, the total vested balance is distributed as an automatic lump sum payment in cash. For participant accounts greater than $1,000 but not more than $5,000, the vested value of the participant’s account may be rolled into an individual retirement account on behalf of the participant or distributed to the participant or his or her beneficiary, as applicable, in cash. Additionally, a participant may request certain in-service withdrawals, including hardship withdrawals, of all or a portion of his or her vested account balance at any time, subject to certain restrictions and limitations, as defined by the Plan document.


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Notes Receivable from Participants

Participants may borrow, from their fund accounts, a minimum of $1,000, up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. A participant may have no more than two loans outstanding at a time. The notes receivable from participants are secured by the balance in the participant’s account and bear a reasonable rate of interest as defined by the Plan. Interest rates on all outstanding loans range from 5.50% to 7.50%. Principal and interest payments occur ratably through regular payroll deductions over a period not to exceed five years, unless the notes receivable were used to purchase a primary residence in which case the note receivable terms may exceed five years.

Vesting

Participants are always fully vested in their contributions plus actual earnings thereon. Employer contributions become fully vested after a participant has completed his or her fifth year of service based on a graduated vesting schedule as follows:

 

 

 

Employer

Contributions

 

Years of Service

 

Vested Percentage

 

Less than 1

 

 

0

%

2

 

 

25

%

3

 

 

50

%

4

 

 

75

%

5

 

 

100

%

 

Administrative Expenses

Processing fees of the Plan are charged against the individual participant account balance that was responsible for the expense. Administrative expenses are paid by the Plan or may be paid by the Employer at the Employer’s discretion. Administrative expenses paid by the Plan may be allocated to participants on a Pro Rata or Per Capita basis, at the Plan Administrator’s discretion.

Forfeitures

Forfeitures of matching contributions are available to be reallocated as an offset to future discretionary matching contributions or to pay plan administration expenses. Forfeitures of profit-sharing contributions are available to be reallocated as additional profit-sharing contributions. Unallocated forfeitures at December 31, 2019 were $5,185. During 2019, forfeitures of $116,754 were used to offset employer contributions and were reallocated back to participants.

Revenue Sharing

A revenue sharing agreement is in place whereby fees earned by the mutual fund companies are shared with the recordkeeper based upon a percentage of assets under management. These amounts are used for the benefit of the Plan to pay administrative expenses. During 2019, expenses to the plan were reduced by $13,993, as these were paid under this revenue sharing agreement.

Plan Termination

Although it has not expressed any intent to do so, the Plan Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of termination of the Plan, all participants would become fully vested in the Employer’s matching portion of their account. Employee contributions and their related earnings are always 100% vested.

2.

Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements were prepared on the accrual basis of accounting in accordance with principles generally accepted in the United States of America (“GAAP”).

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Payment of Benefits

Benefit payments are recorded when paid.

Valuation of Investments

Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Purchases and sales of securities are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis. Net appreciation/depreciation includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

Notes Receivable

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2019. If a participant ceases to make loan repayments and the plan administrator deems the participant loan to be in default, the participant loan balance is reduced, and a benefit payment is recorded.

Excess Contribution Payable

Amounts payable to participants for contributions in excess of amounts allowed by the IRS are recorded as a liability with a corresponding increase in distributions. The Plan distributed the 2019 excess contributions to the applicable participants prior to March 15th of the subsequent year.

Use of Estimates

In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management of the Plan is required to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

3.

Fair Value Measurements

FASB ASC 820, Fair Value Measurement, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

 

Level  1

Quoted prices in active markets for identical assets or liabilities

 

Level  2

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities 

 

Level  3

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities

 

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The following describes the valuation methodologies used for assets measured at fair value:

 

Mutual Funds and Money Market Fund : Valued at the daily closing price as reported by the fund. Mutual funds and money market fund held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (NAV) and to transact at that price. The mutual funds and money market fund held by the Plan are deemed to be actively traded.

 

Home BancShares, Inc. common stock: Valued at the closing price reported on the NASDAQ stock exchange.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

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The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value:

Investment Assets at Fair Value as of December 31, 2019

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total Assets

 

Mutual funds

 

$

47,475,111

 

 

 

 

 

 

 

 

$

47,475,111

 

Money market fund

 

 

1,247,075

 

 

 

 

 

 

 

 

 

1,247,075

 

Home BancShares, Inc. common stock

 

 

20,742,883

 

 

 

 

 

 

 

 

 

20,742,883

 

Total investments at fair value

 

$

69,465,069

 

 

$

 

 

$

 

 

$

69,465,069

 

 

December 31, 2018Income Tax Status

The individualized plan, adopted by the Employer, obtained its latest favorable determination letter on January 14, 2020, in which the IRS has stated that the Plan, as designed, was in compliance with the applicable requirements of the IRC. The Plan has been amended since the applicable date of the favorable determination letter. Nevertheless, the Plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC.

GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2019, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by tax jurisdictions; however, there are currently no audits for any tax periods in progress.

5.

Risks and Uncertainties

The Plan primarily invests in various investment securities which are exposed to various risks, such as market and credit risk. Due to the level of risk associated with such investment securities and the level of uncertainty related to changes in the value of such investments, it is at least reasonably possible that changes in risk in the near term could materially affect the participants’ account balances and the amount reported in the statements of net assets available for benefits.

6.

Related-Party and Party-in-Interest Transactions

Centennial Bank’s Trust Department, the trustee of the Plan, is an affiliate of the Plan Sponsor. The Plan offers investments in funds managed by Fidelity Investments, the custodian of the Plan. All transactions in these funds qualify as party-in-interest transactions. All transactions in Home BancShares, Inc. common stock qualify as party-in-interest transactions because the Company is the plan sponsor. Notes receivable from participants are also defined by ERISA as party-in-interest transactions.

7.

Reconciliation of Financial Statements to Schedule H of Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:

 

 

 

December 31,

 

 

 

2019

 

Net assets available for benefits per financial statements

 

$

70,808,518

 

Excess contribution payable

 

 

262,193

 

Net assets available for benefits per the Form 5500

 

$

71,070,711

 

 

The following is a reconciliation of net increase per the financial statements for the year ended December 31, 2019 to Form 5500:

 

 

 

December 31, 2019

 

Net increase per financial statements

 

$

12,391,763

 

Excess contribution payable

 

 

262,193

 

Net increase per Form 5500

 

$

12,653,956

 

 


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8.

Concentrations

The Plan invests in various investment securities. Home BancShares, Inc. common stock represented approximately 30% of the total investments at December 31, 2019.

9.

Subsequent Events

The Plan’s management has evaluated subsequent events through June 29, 2020, the date the financial statements were available to be issued, and there were no subsequent events requiring adjustment to the financial statements or disclosures, as stated herein.

During 2020, the COVID-19 pandemic has resulted in worldwide government restrictions on the movement of people, goods, and services resulting in an economic downturn. During the economic downturn, the fair value of investments and the related net assets available for benefits decreased. The full impact of the pandemic continues to evolve as of the date of this report, and likewise, the full impact of the pandemic on the net assets available for benefits and the changes in net assets available for benefits is uncertain and difficult to predict.

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Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

EIN: 71-0682831 – Plan #: 002

Form 5500, Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

December 31, 2019

 

  

Identity of issue, borrower,

lessor or similar party

 

Description of investment including maturity date,

rate of interest collateral, par or maturity value

 

Cost

 

Current Value

 

 

Money market fund

 

 

 

 

 

 

 

 

 

Vanguard Federal Money Market

 

Money market fund

 

**

 

 

1,247,075

 

 

Mutual funds

 

 

 

 

 

 

 

 

 

BlackRock 20/80 Target Allocation

 

Value of interest in registered investment companies

 

**

 

 

576,773

 

 

BlackRock 40/60 Target Allocation

 

Value of interest in registered investment companies

 

**

 

 

4,591,463

 

 

BlackRock 60/40 Target Allocation

 

Value of interest in registered investment companies

 

**

 

 

2,125,609

 

 

BlackRock 80/20 Target Allocation

 

Value of interest in registered investment companies

 

**

 

 

858,410

 

 

Dodge & Cox International Fund

 

Value of interest in registered investment companies

 

**

 

 

160,412

 

*

Fidelity Advisor New Insights

 

Value of interest in registered investment companies

 

**

 

 

1,938,055

 

*

Fidelity Limited Term Government

 

Value of interest in registered investment companies

 

**

 

 

1,102,797

 

 

Janus Small Cap Value

 

Value of interest in registered investment companies

 

**

 

 

419,115

 

 

JP Morgan Emerging Markets

 

Value of interest in registered investment companies

 

**

 

 

561,966

 

 

Metropolitan West Total Return

 

Value of interest in registered investment companies

 

**

 

 

921,247

 

 

MFS Value Fund

 

Value of interest in registered investment companies

 

**

 

 

1,658,900

 

 

PIMCO All Asset Institutional

 

Value of interest in registered investment companies

 

**

 

 

286,679

 

 

T. Rowe Price Retirement 2015

 

Value of interest in registered investment companies

 

**

 

 

962,647

 

 

T. Rowe Price Retirement 2010

 

Value of interest in registered investment companies

 

**

 

 

436,849

 

 

T. Rowe Price Retirement 2020

 

Value of interest in registered investment companies

 

**

 

 

1,968,661

 

 

T. Rowe Price Retirement 2025

 

Value of interest in registered investment companies

 

**

 

 

2,785,728

 

 

T. Rowe Price Retirement 2030

 

Value of interest in registered investment companies

 

**

 

 

2,285,856

 

 

T. Rowe Price Retirement 2035

 

Value of interest in registered investment companies

 

**

 

 

2,504,857

 

 

T. Rowe Price Retirement 2040

 

Value of interest in registered investment companies

 

**

 

 

1,390,306

 

 

T. Rowe Price Retirement 2045

 

Value of interest in registered investment companies

 

**

 

 

2,267,844

 

 

T. Rowe Price Retirement 2050

 

Value of interest in registered investment companies

 

**

 

 

1,188,798

 

 

T. Rowe Price Retirement 2055

 

Value of interest in registered investment companies

 

**

 

 

1,338,354

 

 

T. Rowe Price Retirement 2060

 

Value of interest in registered investment companies

 

**

 

 

45,919

 

 

T. Rowe Price Small Cap

 

Value of interest in registered investment companies

 

**

 

 

1,240,283

 

 

Templeton Global Bond Advisor

 

Value of interest in registered investment companies

 

**

 

 

416,505

 

 

Vanguard S&P 500 Index Fund

 

Value of interest in registered investment companies

 

**

 

 

3,388,762

 

 

Vanguard Dividend Growth

 

Value of interest in registered investment companies

 

**

 

 

3,035,046

 

 

Vanguard Inflation Protected

 

Value of interest in registered investment companies

 

**

 

 

479,319

 

 

Vanguard International Growth

 

Value of interest in registered investment companies

 

**

 

 

454,186

 

 

Vanguard Mid Cap Index Fund

 

Value of interest in registered investment companies

 

**

 

 

1,895,160

 

 

Vanguard Small Cap Index Fund

 

Value of interest in registered investment companies

 

**

 

 

858,534

 

 

Vanguard Strategic Equity Inv.

 

Value of interest in registered investment companies

 

**

 

 

2,258,174

 

 

Vanguard Total Bond Market

 

Value of interest in registered investment companies

 

**

 

 

490,247

 

 

Vanguard Total International Stock Fund

 

Value of interest in registered investment companies

 

**

 

 

581,650

 

 

Total mutual funds

 

 

 

 

 

 

47,475,111

 

 

Employer stock

 

 

 

 

 

 

 

 

*

Home BancShares, Inc. common stock

 

Employer securities

 

**

 

 

20,742,883

 

 

Participant loan fund

 

 

 

 

 

 

 

 

*

Participant loan fund

 

Interest rates 5.50 – 7.50%; maturity dates through 2049

 

 

 

 

1,605,642

 

 

Total assets

 

 

 

 

 

$

71,070,711

 

 

*

Indicates party-in-interest to the Plan

**

Cost is not applicable for participant-directed investments

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other person who administers the employee benefit plan) has duly caused this annual report to be signed by the undersigned hereunto duly authorized.

 

 

 

Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan

 

 

 

 

 

By:

 

/s/ Brian S. Davis

Date: June 29, 2020

 

 

 

Brian S. Davis

 

 

 

 

Chief Financial Officer and Treasurer of Home BancShares, Inc.

 

10

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Section 2: EX-23.1 (EX-23.1)

homb-ex231_6.htm

 

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the Registration Statement No. 333-229805 on Form S-8 of our report dated June 29, 2020, with respect to the financial statements and supplemental schedule of the Home BancShares, Inc. 401(k) and Employee Stock Ownership Plan included in this Annual Report (Form 11-K) for the year ended December 31, 2019.

/s/ Hancock Askew & Co., LLP

Savannah, Georgia

June 29, 2020

 

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