Home BancShares, Inc. (NASDAQ GS: HOMB), parent company of Centennial Bank, today announced third quarter earnings of $14.3 million, or $0.48 diluted earnings per common share, compared to $9.6 million, or $0.31 diluted earnings per common share for the same quarter in 2010.

HOMB increased its third quarter net income by $4.8 million or 49.7 percent for the three months ended Sept. 30, compared to the same period last year.

"The Company has achieved yet another historically record quarter," said John Allison, Chairman. "Even with our repayment of TARP during the third quarter, our strong capital levels are sustained considerably above the regulators’ capital requirements.

"With this in mind, we are able to maintain the position of taking advantage of opportunistic FDIC deals as they become available."

Home BancShares bought six failed FDIC banks in Florida in 2010.

HOMB shares at Friday’s closing were 23.02, down 0.13 from Thursday.