05:51 PM EST, 12/10/2024 (MT Newswires) -- Home BancShares ( HOMB ) said late Tuesday it established $16.7 million of additional reserves for loan losses due to Hurricane Milton.

In October, the company announced a $16.7 million reserve due to Hurricane Helene.

"We have approximately $110 million currently on deferral as a result of the two hurricanes, and in keeping with our conservative nature, we feel as though this proactive move is a prudent and predictable course of action," Chairman John Allison said in a statement.