EXHIBIT 99.1

Home BancShares, Inc. Announces Record Quarterly Earnings of $16.1 Million

CONWAY, Ark., Oct. 18, 2012 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (Nasdaq:HOMB), parent company of Centennial Bank, today announced third quarter earnings of $16.1 million, or $0.57 diluted earnings per common share, compared to $13.8 million of net income available to common shareholders, or $0.48 diluted earnings per common share for the same quarter in 2011. The Company increased its third quarter earnings by $2.3 million or 16.4% for the three months ended September 30, 2012 compared to the same period of the previous year.

Because acquisitions are growth and capital management strategies, earnings excluding amortization of intangibles after-tax are useful in evaluating the Company. Diluted earnings per common share excluding intangible amortization for the third quarter of 2012 was $0.58 compared to $0.50 diluted earnings per common share excluding intangible amortization for the same period in 2011.

"The results our Company was able to attain this quarter are no doubt impressive," said John Allison, Chairman. "This was the most profitable quarter in the Company's history, and it continues to be displayed through our reported improvements in our non-performing non-covered loans and assets and an improvement in our core efficiency. Our team continues to do an excellent job of controlling expenses. For example, excluding merger expenses we have a lower non-interest expense this quarter than a year ago even though we added 15 branch locations with the Vision transaction in the first quarter of 2012."

Randy Sims, Chief Executive Officer, added, "Home BancShares has once again reached the most profitable quarter in its history. The record earnings reported during the third quarter 2012 are $605,000 or 4% above Home BancShares' previously reported record earnings. We have once again reported strong reserves and capital levels for the Company, leaving us in a strong financial position for both FDIC and market acquisition transaction opportunities."

Operating Highlights

Net interest income for the third quarter of 2012 increased 8.2% to $38.6 million from $35.7 million during the third quarter of 2011. For the third quarter of 2012, the effective yield on non-covered loans and covered loans was 6.05% and 7.84%, respectively. Net interest margin, on a fully taxable equivalent basis, was 4.65% for the third quarter in a row.

The Company reported $10.6 million of non-interest income for the third quarter of 2012, compared to $10.0 million for the third quarter of 2011. The most significant components of the third quarter non-interest income were $3.8 million from service charges on deposits accounts, $3.1 million from other service charges and fees, $1.6 million from mortgage lending income, $512,000 from insurance commissions, $373,000 of accretion on the FDIC indemnification asset, $206,000 from gains on sale of SBA loans and $222,000 loss on sale of OREO.

Non-interest expense for the third quarter of 2012 was $24.0 million compared to $23.7 million for the third quarter of 2011. Excluding merger expenses, non-interest expense for the third quarter of 2012 was $23.7 million or $51,000 lower than during the third quarter of 2011. The new overhead from the Vision acquisition completed in the first quarter of 2012 has been offset through various expense reductions throughout the Company, such as advertising, FDIC assessments and cost savings associated with Vision. For the third quarter of 2012, our core efficiency ratio was 45.63% or improved by 368 basis points from the same period of the previous year.

Financial Condition

Total non-covered loans were $2.08 billion at September 30, 2012 compared to $1.76 billion at December 31, 2011. Total covered loans were $407.4 million at September 30, 2012 compared to $481.7 million at December 31, 2011. Total deposits were $3.13 billion at September 30, 2012 compared to $2.86 billion at December 31, 2011. Total assets were $3.89 billion at September 30, 2012 compared to $3.60 billion at December 31, 2011.

Non-performing non-covered loans were $22.6 million as of September 30, 2012, of which $14.0 million were located in Florida. Non-performing non-covered loans as a percent of total non-covered loans were 1.09% as of September 30, 2012 compared to 1.56% as of December 31, 2011. Non-performing non-covered assets were $37.6 million as of September 30, 2012, of which $17.0 million were located in Florida. Non-performing non-covered assets as a percent of total non-covered assets were 1.14% as of September 30, 2012 compared to the 1.53% reported for December 31, 2011.

The Company's allowance for loan losses for non-covered loans was $47.3 million at September 30, 2012, or 2.28% of total non-covered loans, compared to $52.1 million, or 2.96% of total non-covered loans, at December 31, 2011. As of September 30, 2012 and December 31, 2011, the allowance for loan losses for non-covered loans plus acquisition discount to total non-covered loans plus acquisition discount was 2.97% and 3.10%, respectively. As of September 30, 2012 and December 31, 2011, the Company's allowance for loan losses for non-covered loans was 209% and 190% of its total non-performing non-covered loans, respectively.

Stockholders' equity was $510.0 million at September 30, 2012 compared to $474.1 million at December 31, 2011, an increase of $35.9 million. Book value per common share was $18.10 at September 30, 2012 compared to $16.77 at December 31, 2011.

Stock Repurchase Program

During the third quarter of 2012, the Company repurchased a total of 13,810 shares with a weighted average stock price of $32.46. For the first nine months of 2012, the Company repurchased a total of 252,044 shares with a weighted average stock price of $26.00. The Company believes the stock repurchased at these prices is an exceptional investment. The 2012 earnings were used to fund these repurchases. 

Branches

Presently, the Company is evaluating opportunities but has no firm commitments for additional de novo branch locations.   During the first part of July, the Company closed two branches acquired in the Vision acquisition. These branch closures were completed to eliminate repetitive branches and maximize profitability from the Vision transaction. After these closures the Company now has 47 branches in Arkansas, 46 branches in Florida and 8 branches in Alabama.

Conference Call

Management will conduct a conference call to review this information at 1:00 p.m. CT (2:00 ET) on Thursday, October 18, 2012. Interested parties can listen to this call by calling 1-877-317-6789 and asking for the Home BancShares conference call. A replay of the call will be available by calling 1-877-344-7529, Passcode: 10018596, which will be available until October 29, 2012 at 8:00 a.m. CT (9:00 ET). Internet access to the call will be available live or in recorded version on the Company's website at www.homebancshares.com under "Investor Relations" for 12 months.

General

This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.'s financial results are included in its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission.

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, the Florida Panhandle and south Alabama. The Company's common stock is traded through the NASDAQ Global Select Market under the symbol "HOMB."

CONTACT: Brian S. Davis
         Chief Accounting Officer &
         Investor Relations Officer
         Home BancShares, Inc.
         (501) 328-4770