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Simmons First National Corporation reports developments for a Mid-South financial holding company whose principal subsidiary, Simmons Bank, provides commercial and consumer banking across Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Recurring updates center on quarterly earnings, net interest margin, loan and deposit growth, credit quality, branch and expense actions, and fee businesses such as wealth management and debit and credit card services.
Company news also covers Simmons Bank product initiatives, private banking and wealth management activity, executive appointments, quarterly cash dividends, and common-stock repurchase authorizations. These items reflect the bank's balance sheet management, capital returns, customer banking services, and regional market operations.
Simmons Bank announced a $50,000 donation to Junior Achievement USA, highlighting over 6,400 volunteer hours from associates during September's Service Month. This contribution will enhance work-readiness and financial literacy for children across the bank's six-state area. Since 2015, Simmons Bank has donated more than $200,000 to Junior Achievement. Simmons Bank's commitment to community engagement reflects its corporate culture, fostering volunteerism among its employees, who also raised $11,550 for various charities.
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The Simmons Bank Open for the Snedeker Foundation will elevate its status in the Korn Ferry Tour as one of four tournaments forming the 2023 Korn Ferry Tour Finals, scheduled for September 14-17 at The Grove Club, College Grove, Tenn. This recognition follows the tournament's successful past two years, receiving positive feedback from players and the community. With expected national exposure from Golf Channel coverage and enhanced hospitality, Simmons Bank aims to leverage this event to benefit the Snedeker Foundation and other charities in middle Tennessee, contributing over $1 million to local causes since its inception.
Simmons First National Corporation (NASDAQ: SFNC) reported a strong third quarter for 2022, with total revenue of $236.6 million, marking a 5% increase from the previous quarter and a 22% increase year-over-year. The company's net income was $80.6 million, with diluted earnings per share of $0.63. Noteworthy achievements included a 11% reduction in noninterest expenses and the highest pre-provision net revenue in its history at $97.7 million. Despite economic uncertainties, Simmons maintained a strong capital position and continued its tradition of paying dividends.
Simmons First National Corporation (NASDAQ: SFNC) has declared a quarterly cash dividend of $0.19 per share, an increase of $0.01 or 6% from last year. This dividend is payable on January 3, 2023, to shareholders of record as of December 15, 2022. The annual cash dividend rate of $0.76 for 2022 marks a 7% compound annual growth rate over the past decade. Simmons has now paid cash dividends for 113 consecutive years, making it one of only 23 U.S. public companies with over 100 years of uninterrupted dividend payments.
Simmons First National Corporation (NASDAQ: SFNC) will release its third quarter 2022 earnings on October 25, 2022, before the market opens. The management will hold a live conference call at 9:00 a.m. Central Time to discuss the results, accessible at 1-877-270-2148 (North America). Additionally, the call will be available on the company's website for 60 days post-event. Simmons First has paid dividends for 113 consecutive years and operates over 230 branches across several states.
Simmons Bank's EVP, Steve Wade, received the 2022 ABA Foundation Community Commitment Award for his leadership in the SAFER AR Act, focusing on protecting older Americans from financial exploitation. The award will be presented on Oct. 4 during the ABA's Annual Convention in Austin, Texas. Wade's involvement in drafting HR 1391, signed into law on July 1, 2021, highlights the bank's commitment to community service. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), operates over 230 branches and has a long history of financial stability and community engagement.
Simmons Bank has appointed Maurice Butler as Senior Vice President, Director of Community Development. With nearly 30 years in banking, Butler will lead the bank's Community Reinvestment Act (CRA) initiatives, focusing on financial products for low- and moderate-income communities. He will manage Community Affairs Officers, enhancing services for underserved areas across six states. Butler previously served as SVP, Market Manager in West Tennessee. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), has a strong history of community involvement and has paid dividends for 113 consecutive years.
The Little Rock Touchdown Club has unveiled its 2022 speaker lineup, featuring notable figures such as Arkansas Razorback Head Coach Sam Pittman and former college football stars. The club, which began in 2004, has over 500 members and meets at the DoubleTree Hotel. Simmons Bank continues to be the lead sponsor, having supported the club for eight seasons. Membership starts at $90, and lunches are served during meetings. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), operates over 230 branches across several states and has received accolades from Forbes for its banking services.