Simmons First posts earnings jump of 27%

Pine Bluff, Ark.-based Simmons First National Corp. (Nasdaq: SFNC) increased third-quarter net income 26.8 percent to $8.8 million compared to $6.9 million a year earlier.

Diluted share earnings for the three months ended Sept. 30 were 52 cents, a 9-cent uptick from third-quarter 2013. The company - which is expected in the fourth quarter to complete its approximately $206.9 million purchase of Springfield-based Liberty Bank - currently operates a Queen City branch at 3333 E. Battlefield Road, according to a news release.

Third-quarter financial notes:

• In August, Simmons First completed its acquisition of Little Rock-based Delta Trust & Banking Corp.
• Interest income improved to $45.2 million, while interest expense jumped to $3.4 million.
• Core earnings, which exclude net after-tax expenses, jumped to a record of $10.7 million, up 45 percent from a year earlier.

As of Sept. 30, Simmons First held assets of $4.4 billion, deposits of $3.9 billion and loans of $2.8 billion, according to the release.

SNFC shares were trading at $38.91 as of 9:53 a.m., compared to a 52-week range of $32.01 to $43.22.[[In-content Ad]]