YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Simmons Bank produces 91% earnings jump

Posted online

Simmons First National Corp. (Nasdaq: SFNC) pushed its third-quarter net income up 91 percent to $55.2 million from $28.9 million a year earlier.

The Pine Bluff, Arkansas-based operator of six Simmons Bank branches in Springfield reported diluted share earnings of 59 cents, a 15-cent uptick, according to a news release.

“We are proud to again report record earnings for this quarter building off the strong results in the first half of the year,” Simmons Chairman and CEO George Makris Jr. said in the release. “We continue to experience excellent organic growth in all of our markets.”

Third-quarter financial notes:
    •    After-tax acquisition and branch transition costs totaled $1.3 million.
    •    Excluding the one-time expenses, earnings came to $56.5 million.
    •    Net interest income rose 81.4 percent to $143 million.

As of Sept 30, Simmons Bank held assets of $16.3 billion and deposits of $12.1 billion. The company operates branches in Arkansas, Missouri and five other states, according to the release. In the Springfield market, Simmons has purchased Liberty Bancshares Inc., Ozark Trust and Investment Corp., and Southwest Community Bank’s assets.

SFNC shares were trading at $25.66 as of 8:39 a.m., compared with a 52-week range of $25.37 to $33.45.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
From the Ground Up: Republic Intermediate School

The Republic School District is on track to open its Intermediate School for fifth- and sixth-grade students for the 2025-26 academic year.

Most Read
Update cookies preferences