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Simmons First National Corporation (NASDAQ: SFNC), a regional financial institution with roots dating to 1903, maintains this dedicated news hub for stakeholders tracking its strategic developments. This page consolidates official announcements including quarterly earnings, merger activity, leadership updates, and regulatory filings.
Investors access time-sensitive information about SFNC's loan portfolio performance, dividend declarations, and expansion initiatives across Arkansas and neighboring states. Analysts find detailed disclosures about asset quality metrics, capital adequacy ratios, and interest margin trends essential for modeling this regional banking operator.
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Simmons First National (NASDAQ: SFNC) reported its second quarter 2024 results on July 24, 2024.
Key financial highlights: Net income was $40.8 million, up from $38.9 million in Q1 2024 but down from $58.3 million in Q2 2023. Diluted EPS was $0.32, slightly up from $0.31 in Q1 2024, but down from $0.46 in Q2 2023. Total revenue came in at $197.2 million, with a net interest margin of 2.69%, up 3 basis points from Q1 2024.
Total loans increased by 4% on a linked-quarter annualized basis. The yield on the loan portfolio rose by 15 basis points to 6.39%. Deposit costs increased by only 4 basis points, and noninterest-bearing deposit migration eased. Credit quality improved with a decrease in nonperforming loans and past due loans. The allowance for credit losses was 1.34%, and the nonperforming loan coverage ratio stood at 223%.
The board declared a quarterly cash dividend of $0.21 per share, payable on October 1, 2024. Simmons did not repurchase shares under its 2024 stock repurchase program during the quarter.
Simmons Bank announced a $25,000 donation to Hope's Path in honor of former board member Dean Bass. Hope's Path, a nonprofit based in Spring, Texas, helps former foster and homeless youth achieve sustainable independence. Dean Bass joined the board of Simmons First National (NASDAQ: SFNC) in 2022 after Simmons acquired Spirit of Texas Bancshares, where he was chairman and CEO. The donation recognizes Bass's contribution to the company and community. Simmons Bank operates 233 branches across six states and has a long history of paying dividends. The bank has been acknowledged by several prestigious publications for its workplace and service excellence.
Simmons Bank announced a $25,000 donation to the Simmons First Foundation in honor of Jay Burchfield, a former board member. Burchfield, who served on the board since 2015, contributed significantly through his strategic thinking and execution. He served on the Audit and Compensation Committees of Simmons First National (NASDAQ: SFNC). A veteran of the U.S. Army and retired Chairman of Ozark Trust and Investment , Burchfield's career in the banking and financial services industry spanned over 40 years. The Simmons First Foundation, led by former CEO Tommy May, supports education, healthcare, and environmental conservation efforts. Simmons Bank, a subsidiary of Simmons First National , operates 233 branches and has been recognized by U.S. News & World Report and Forbes for its workplace and banking excellence.
Simmons Bank has made a $25,000 donation to St. Peter Catholic Church in honor of former board member W. Scott McGeorge. This donation will support the repair and renovation of St. Raphael Church in Pine Bluff, established in 1932. W. Scott McGeorge, who joined Simmons' board in 2005, has significantly contributed to the company, particularly in the Audit and Compensation Committees. The donation recognizes his nearly 20 years of dedicated service. Simmons Bank, a subsidiary of Simmons First National (NASDAQ: SFNC), operates 233 branches across several states and has been recognized for its workplace excellence and client-centric approach.
Simmons First National (NASDAQ: SFNC) will release its second quarter 2024 earnings before market hours on July 24, 2024. A live conference call is scheduled at 9:00 a.m. Central Time the same day to discuss the results. The dial-in number for North American participants is 1-844-481-2779 with the conference ID 10190204. The call will be accessible live on Simmons Bank's website and a recorded version will remain available for 60 days. Simmons Bank, the principal subsidiary, operates 233 branches across six states and has been recognized by U.S. News & World Report and Forbes for its workplace and banking excellence.
Simmons Bank has been named to Forbes America's Best-In-State Banks 2024 in Tennessee. The ranking, created in partnership with Statista, identifies banks that excel in meeting local financial needs. Approximately 26,000 U.S. residents participated in the survey, assessing banks on criteria like customer service, financial advice, fee structures, and digital services. This accolade adds to Simmons Bank's recent recognitions from Forbes, including World's Best Banks and America's Best Midsize Employers. Simmons Bank, a subsidiary of Simmons First National (NASDAQ: SFNC), operates 233 branches across six states and has been a trusted financial advisor since 1903.
Simmons Bank has been named one of the '2024-2025 Best Companies to Work For in the South' by U.S. News & World Report. The recognition highlights Simmons Bank's top ranking in stability and professional development. 549 companies were evaluated across various criteria including pay and benefits quality, work-life balance, and job stability. This accolade is based on metrics and employee sentiment from the Russell 3000 index, with data gathered from partners such as Revelio Labs and Good Jobs First. Simmons Bank, a subsidiary of Simmons First National (NASDAQ: SFNC), operates 233 branches across six states and has a long history of paying cash dividends.
Simmons Bank celebrated the opening of its new financial center in Memphis' Binghampton area on May 22, 2024. The 2,133-square-foot center, located at 510 Tillman St, features a full-service branch with an ATM that has deposit capabilities. This new center aims to provide a range of services including personal, commercial, mortgage lending, and wealth management. Simmons Bank operates 11 branches in the Memphis metro area and 233 branches across six states, ranking as the 9th largest bank in Tennessee based on deposit market share. The company, which has a history of paying cash dividends for 115 years, is a subsidiary of Simmons First National (NASDAQ: SFNC). Founded in 1903, Simmons Bank has been recognized by Forbes as one of 'America's Best Midsize Employers' and among the 'World's Best Banks' for four consecutive years.
Simmons Bank has announced a $1.25 million investment to support Southern Bancorp Community Partners' Minority Business Empowerment Program (MBEP) in central Arkansas. This includes a 10-year, $1 million Equity Equivalent (EQ2) investment and a $250,000 grant for technical assistance to minority entrepreneurs. The MBEP, launched in 2021, offers a 12-week program focusing on seven key business disciplines, preparing participants to secure funding for growth and scalability. The initiative aims to provide low-cost capital and technical support to minority businesses, fostering economic empowerment and prosperity.
Stephens Inc. has been announced as the presenting sponsor of the Simmons Bank Championship, a PGA TOUR Champions tournament held at Pleasant Valley Country Club in Little Rock, Arkansas. The event will take place from Oct. 21-27, 2024, as part of the Charles Schwab Cup Playoffs with a prize money of $2.3 million. Stephens Inc.'s support aims to enhance player, volunteer, and attendee experience, while benefiting various charitable organizations in Arkansas. The sponsorship agreement will last for five years, solidifying a long-term partnership.