Home Bancshares (HOMB) Raises Buyback by 20M Shares
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Home BancShares, Inc. (Nasdaq: HOMB) the parent company of Centennial Bank, announced today that the Board of Directors on January 22, 2021 authorized an increase of 20,000,000 in the number of shares of the Company’s stock available under its common stock repurchase program which was approved by the Board in January 2008 and most recently amended in January 2019. As of December 31, 2020, a total of approximately 3,800,000 shares remained available for repurchase under the existing repurchase authorization which will increase to approximately 23,800,000 shares available for repurchase with this authorization.
“The amount of capital that the corporation has generated gives us the ability to pull any or all of the capital levers that are available to us,” said John Allison, Home BancShares, Inc. Chairman. “We will pull the appropriate lever at the appropriate time. This strategic move allows us to be prepared for the future.”
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