Simmons 1St Natl Corp Stock Price, News & Analysis

Simmons First National Corporation (NASDAQ: SFNC) reported a net income of $80.6 million for Q3 2021, a 22% increase from the previous year, with diluted EPS rising 23% to $0.74. Loan production reached $1.5 billion, while total deposits grew by $1.1 billion to $18.1 billion. The company saw a decline in nonperforming loans for the fourth consecutive quarter and recorded a $19.9 million provision expense recapture. Share repurchases totaled 1.8 million shares in Q3. The company maintains strong capital ratios significantly exceeding guidelines, indicating a solid financial position.

Simmons First National Corp. (NASDAQ: SFNC) has successfully completed its acquisitions of Landmark Community Bank and Triumph Bancshares, Inc. as of October 8, 2021. These strategic moves enhance Simmons Bank's position in Tennessee, elevating it to the 8th largest bank in the state based on pro forma deposit market share. The mergers included a conversion of stock for shareholders and a simultaneous systems integration. Post-acquisition, Simmons Bank manages over $25 billion in assets and nearly $20 billion in total deposits.

Simmons First National Corp. (NASDAQ: SFNC) will announce its third quarter 2021 earnings before the market opens on October 26, 2021. A conference call for investors is scheduled for the same day at 9:00 a.m. CDT, with toll-free access available. Simmons Bank, a key player in the company, operates 198 financial centers across multiple states. It was recognized in Forbes' lists of the 'World’s Best Banks' and 'America’s Best Banks' for 2021. The recorded call will remain accessible for 60 days post-event.

Simmons First National Corporation (NASDAQ: SFNC) has received approval from the Federal Reserve Bank of St. Louis for its acquisitions of Landmark Community Bank and Triumph Bank. These acquisitions aim to expand Simmons' footprint in the Memphis and Nashville markets, enhancing growth and shareholder value. The transactions are expected to close in Q4 2021, pending customary conditions including shareholder approvals. Post-acquisition, customers will transition to Simmons Bank while maintaining access to their current bank services until the conversion.

Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), announced the formation of a new Commercial Finance team with 11 experienced members led by Lee Palm. The team will focus on fields such as business aviation and marine financing, enhancing Simmons' commercial lending capabilities. Palm, previously at TCF Bank, aims to leverage his extensive industry experience to drive growth. Simmons Bank, with approximately $23.4 billion in assets, is well-positioned to expand its commercial banking services through this strategic addition.

Simmons First National Corporation (NASDAQ: SFNC) declared a quarterly cash dividend of $0.18 per share, payable on October 4, 2021, to shareholders of record as of September 15, 2021. This marks a 6% increase from the previous year's dividend. Simmons has returned capital to shareholders through dividends for 112 consecutive years, highlighting its reliability in cash distributions. The annualized cash dividend rate stands at $0.72 per share, with a five-year growth rate exceeding 8%.

Simmons First National Corporation (NASDAQ: SFNC) reported a 27% increase in net income to $74.9 million for Q2 2021, with diluted EPS rising 28% to $0.69 compared to Q2 2020. Total deposits reached $18.3 billion, up $1.7 billion year-over-year. Loan production for the first half of 2021 was $1.8 billion, surpassing the previous year. The company also announced enhancements in its share repurchase program, raising the authorization to approximately $150 million and extending the expiration to October 2022. Asset quality improved, with nonperforming loans down $34.6 million from the prior quarter.