Home Bancshares, Inc. (Conway, AR) (NYSE:HOMB) Q1 2023 Earnings Call Transcript

So I think that was — I think if you want throw stones at somewhere, I think that was — I think that may have been somebody else’s responsibility that was not properly attending the store, because I can promise you one thing, if closest, Saint Louis stays with us, of what we’re doing, that would have never happened here.And Arkansas too, I mean the Arkansas State Bank department, good offerings to keep us and we don’t get too far out of line ever, but I think that was some stock. But I fear they’re going to come down some more regulations and more and more and more think it will fix it. But I think that was a lapse in judgment in those liberal communities out there that I mean we’ve been — some of that stuff didn’t look very good. They only had — they only have one guy I think on the bank board that appeared to have lots of banking experience.

That was a former member of the Fed, I think.So they just didn’t pay attention. To me, they didn’t pay attention. So it was a mismatch with the balance sheet and it lasted two days and it is over, bam, that’s how fragile that thing was. So that’s what that gets your attention as a banker and as a large shareholder in a financial institution, when you see one go bam, it blows up in 48 hours. So it tells you it’s time to be conservative.Stephen Scouten Yes. For sure. Well like we discussed, no bank is really built to withstand the bank run. So that’s kind of — yes, you got to prevent that in the first place, I suppose. So congratulations on a great quarter. One of the few green tickers on my screen right now. So the market appears to agree that you’re in that catbird seat, well done.John Allison All right.

Well, thank you very much for your support. Great report. Thank you, John Allison.Operator Thank you, Mr. Scouten. That concludes the question-and-answer session. So I will turn the call back over to Mr. Allison for any closing remarks.John Allison I think we’ve said it all. I don’t think we have anything else to say today. I think we’ve said it all at our shareholders meeting today. And then we move from there to our conference call and we have our — we’re in line for our Board meeting that starts 10 minutes ago, that’s right. It starts 10 minutes ago. So look forward to talking to you all in 90 days and thanks for everybody’s support.Operator That concludes today’s call. Thank you for your participation. You may now disconnect your lines.