I also have a website with a large quantity of text on the front page. It may be causing me a higher bounce rate, and turning some customers away. I will work on thinning it.
The FLIP SIDE is that search engines like Google favor sites with a lot of information. Also you need to have your preferred search keywords in natural text on your front page (or appropriate landing page). It's hard to work all the keywords into sentences without having a lot of text. If you're not getting on the first page with either the organic search or with a paid ad, you may as well not have a website. People do not go to the second page or even scroll down to see hidden parts of the google page.
I guess the answer is to have the best compromise on the amount of text. Also, you could have just the best text at the top of the page, with a lot of additional text way down on the page, out of immediate view without scrolling down.