Simmons Bank's profits falter in first quarter

Pine Bluff, Arkansas-based Simmons First National Corp. (Nasdaq: SFNC) recorded a net income decrease to start the year.

The operator of four Simmons Bank branches in Springfield reported first-quarter profits of $32.4 million, a 16.7% decrease from $38.9 million a year earlier, according to a news release. Year-over-year diluted share earnings dropped to 26 cents from 31 cents.

"We increased the loss provision on two specific credit relationships that we have been watching for some time due to unfavorable events that occurred for both since the end of 2024. Otherwise, we believe the asset quality in our portfolio remains sound," said George Makris, Jr., Simmons' Chairman and Chief Executive Officer, in the release. "We are, though, carefully monitoring the economic volatility in the United States and the world. Financial markets suffer in times of uncertainty, which appears present today, and can threaten the pace of business investment."

Simmons Bank officials additionally pointed in the release to first-quarter total revenue of $209.6 million, up from $195.1 million in the same quarter of 2024.

As of March 31, Simmons Bank's assets were $26.8 billion and deposits were $21.7 billion. The company has 222 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

SFNC shares were trading at $17.74 as of 10:38 a.m., compared with a 52-week range of $16.03 to $25.95 per share.