Simmons 1St Natl Corp Stock Price, News & Analysis

Simmons Bank has announced a donation of $75,000 to the Snedeker Foundation through its Drive. Putt. Do Good. initiative. This initiative aims to offset losses from the cancellation of the Simmons Bank Open, part of the Korn Ferry Tour. The bank pledged $50 for each birdie made during the 2020 golf season, resulting in 1,401 birdies by team ambassadors, including Brandt Snedeker, exceeding their $50,000 target. The Snedeker Foundation supports underprivileged children, demonstrating Simmons Bank's commitment to community aid during challenging times.

Simmons Bank has been recognized by Fortune as one of the "100 Fastest-Growing Companies" for 2020, the only company from Arkansas to achieve this. The bank's impressive growth is highlighted by a 35% revenue increase over three years, contributing to its asset expansion from approximately $3.2 billion to over $21 billion in less than seven years. This accolade complements previous honors from Forbes, including listings as one of the "World's Best Banks" and "Best-in-State Employers" in 2020.

Simmons First National Corp. (NASDAQ: SFNC) announced a quarterly cash dividend of $0.17 per share, payable on January 5, 2021, to shareholders of record as of December 15, 2020. This marks a 6.3% increase from last year’s dividend. As of September 30, 2020, the company's total consolidated assets were approximately $21.4 billion, reflecting its robust financial position. Simmons First operates across several states including Arkansas, Illinois, and Texas, providing a wide range of financial services.

Simmons First National Corporation (Nasdaq: SFNC) has resumed its stock repurchase program originally authorized in October 2019, allowing for repurchases up to $180 million. As of October 22, 2020, the Company has repurchased approximately $103.4 million of its Class A common stock, leaving $76.6 million available. Management will decide the timing and amount of future repurchases based on market conditions and corporate needs. The program is set to terminate on October 31, 2021, unless modified or suspended earlier.

Simmons First National Corporation (NASDAQ: SFNC) reported a net income of $65.9 million for Q3 2020, down 19.5% from $81.8 million year-over-year. Diluted earnings per share also fell to $0.60, a decrease of 28.6%. Core earnings declined to $68.3 million, reflecting an 18.6% decrease from a year ago. The company originated about 8,200 loans under the Paycheck Protection Program, totaling $970.5 million. Total loans were $14.0 billion, a 7.8% increase year-over-year, but decreased 4.0% from Q2. Total deposits rose 20.6% year-over-year to $16.2 billion.

Simmons Bank has launched the first phase of credit and debit card integration via Jack Henry's Banno software, enhancing its mobile app functionality. The integration allows customers to manage credit card transactions and payment due dates starting October 6, 2020, with full capabilities expected in 2021. This development is part of Simmons' Next Generation Bank initiative, a $100 million investment in technology aimed at improving digital banking services. The bank experienced over 30% growth in mobile and online banking usage during Q2 and Q3 of 2020 due to its digital focus.

Simmons First National Corp. (NASDAQ: SFNC) announced it will release its third quarter 2020 earnings before market opening on October 19, 2020. A conference call will follow at 9:00 a.m. CDT, allowing stakeholders to review earnings details. The conference call can be accessed toll-free in the U.S. and Canada at 1-866-298-7926, with conference ID 6533868. As of June 30, 2020, the company reported total assets of approximately $21.9 billion, conducting financial operations across several states including Arkansas, Illinois, and Texas.

Simmons Bank has been recognized as a top employer in Arkansas for the third consecutive year by Arkansas Business. The award highlights Simmons and 46 other companies for their positive impact on the state's economy and workforce. To qualify, companies completed a two-part survey assessing workplace policies and employee experiences, with the latter accounting for 75% of the score. CEO George Makris Jr. emphasized their commitment to employees through various benefits and leadership programs. This recognition follows Simmons being named a "Best-in-State Employer" by Forbes in August 2020.