Home BancShares Announces Repurchase of Warrant From the U.S. Treasury Under the TARP Capital Purchase Program

Home BancShares, Inc. HOMB today announced that on July 27, 2011, the Company repurchased the common stock purchase warrant issued by the Company to the United States Department of the Treasury on January 16, 2009 in connection with the Company's participation in the Treasury's TARP Capital Purchase Program. The Warrant was repurchased by the Company pursuant to a letter agreement between the Treasury and the Company, dated July 21, 2011, for a total repurchase price of approximately $1.3 million. Prior to its repurchase, the Warrant allowed the Treasury to purchase up to 158,471.50 shares of the Company's common stock at an exercise price of $23.664 per share. The repurchase price was based on the fair market value of the Warrant as agreed upon by the Company and the Treasury.