Simmons 1St Natl Corp Stock Price, News & Analysis

Simmons Bank (NASDAQ: SFNC) reported that its Round-Up automatic savings program helped customers save nearly $5.5 million in the first eleven months of 2024, with over 25,000 customers participating. The program, launched in 2014, automatically rounds up debit card purchases to the nearest dollar and deposits the difference into customers' savings accounts.

This initiative addresses a significant need, as a recent Bankrate survey revealed that 59% of U.S. adults are uncomfortable with their emergency savings, and 27% have no emergency savings at all. Simmons Bank operates 234 branches across six states and has maintained cash dividends for 115 consecutive years.

Simmons Bank (NASDAQ: SFNC) has opened a new financial center in Cleveland, Tennessee, at 86 Stuart Road Northeast. The 3,000-square-foot facility features a full-service branch with four drive-thru lanes and an ATM with quick-deposit capabilities, offering both personal and commercial lending services.

The bank currently operates more than 45 branches throughout Tennessee and 234 branches across six states: Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. This expansion reinforces Simmons Bank's commitment to community investment, with the institution notably maintaining a 115-year streak of consecutive cash dividend payments.

Simmons Bank has inaugurated its newest financial center at 3000 Mallory Lane in Franklin, Tennessee. The nearly 3,000-square-foot facility features a full-service branch and drive-up ATM with quick-deposit capabilities. This expansion adds to Simmons Bank's network of over 45 full-service branches throughout Tennessee and 234 branches across six states.

The center will provide comprehensive financial services, including personal, mortgage, and commercial lending. MTLC Building Group and ASD | SKY served as the contractor and architectural firm, respectively. The bank, a subsidiary of Simmons First National (NASDAQ: SFNC), has maintained cash dividends for 115 consecutive years and was recently recognized by U.S. News & World Report and Forbes for workplace excellence.

Simmons First National (NASDAQ: SFNC) has declared a quarterly cash dividend of $0.21 per share on its Class A common stock, payable on January 2, 2025, to shareholders of record as of December 13, 2024. This represents a 5% increase from last year's dividend. The annual cash dividend rate of $0.84 for 2024 reflects a ten-year compound annual growth rate of 6%. Simmons has maintained cash dividend payments for 115 consecutive years, making it one of only 26 U.S. publicly traded companies with 100+ years of uninterrupted dividend payments. The company has earned the 'Dividend Contender' designation for increasing dividends for 10-24 consecutive years.

Simmons First National (NASDAQ: SFNC) announced significant executive changes. CEO Bob Fehlman will retire at the end of 2024, transitioning to an advisory role through Q1 2025. Executive Chairman George Makris, Jr. will become Chairman and CEO effective January 1, 2025. The company also appointed Christopher Van Steenberg as Chief Operating Officer, effective November 12. Van Steenberg brings over 25 years of financial services experience and will report to President Jay Brogdon. Fehlman's 36-year tenure at Simmons included roles as controller, CFO, treasurer, COO, president, and CEO.

Simmons First National reported third quarter 2024 results with notable financial metrics. Net income was $24.7 million and diluted EPS was $0.20, compared to $40.8 million and $0.32 in Q2 2024. Adjusted earnings were $46.0 million, up from $41.9 million in Q2. Total revenue was $174.8 million, with adjusted total revenue at $203.2 million. Net interest income increased 10% annualized, while deposit costs remained unchanged. The company sold $252 million of lower-yielding bonds, resulting in a $21.0 million after-tax loss. Total loans increased to $17.3 billion, and total deposits were $21.9 billion. The net charge-off ratio was 0.22%, and the allowance for credit losses ended at 1.35%. Book value per share rose to $28.11, and tangible book value increased to $16.78. The equity to assets ratio was 12.94%. No shares were repurchased under the 2024 program during the quarter.

The Simmons Bank Championship Women's Leadership Summit presented by Baptist Health is set for October 21 at Pleasant Valley Country Club in Little Rock, Arkansas. The event features Stacy Lewis, a 13-time LPGA Tour winner, as a guest speaker and Jael Thorpe, Founder & CEO of Gameday Social Apparel, as the luncheon keynote speaker.

The Summit includes panels on financial health and physical & mental health, followed by a fireside chat with Stacy Lewis and a putting and chipping clinic. The event kicks off the Simmons Bank Championship week, which is the first-ever PGA TOUR event held in Arkansas. The tournament, part of the PGA TOUR Champions Charles Schwab Cup Playoffs, will take place from October 25-27 with a field of 54 top players competing for a $2.3 million purse.

Simmons Bank has celebrated the grand opening of its new regional corporate office and financial center in Downtown Kansas City's Power and Light District. Located at 1200 Grand Blvd, the 16,500-square-foot facility features a full-service branch and a walk-up ATM with quick-deposit capabilities. The new office aims to provide comprehensive services to commercial, business, and individual clients in the region.

Mark Nuss, regional executive for Simmons Bank, emphasized the bank's commitment to the Kansas City area and its focus on delivering a full suite of services with top-tier talent. The facility will offer personal and commercial lending, as well as wealth management services.

Simmons Bank, a subsidiary of Simmons First National (NASDAQ: SFNC), operates over 50 full-service branches in Missouri and Kansas, and 234 branches across six states. The bank has been recognized by U.S. News & World Report and Forbes for its workplace environment and banking services in 2024.

The Simmons Bank Championship presented by Stephens, a PGA TOUR Champions playoff event, announced its schedule and activities at Media Day. The inaugural tournament will be held at Pleasant Valley Country Club in Little Rock, Arkansas, from October 21-27, 2024. Key events include a Women's Leadership Summit, Pro-Am, and Folds of Honor Friday. The tournament will feature a 54-player field competing for a $2.3 million purse.

Notable sponsors, dubbed 'Arkansas Champions', include Stephens, Arkansas Children's Hospital, and Parker Lexus. First Tee was announced as a beneficiary charity. The event will be broadcast live on the Golf Channel and aims to support multiple nonprofit organizations in Arkansas.