Simmons 1St Natl Corp Stock Price, News & Analysis

Simmons First National Corporation (NASDAQ: SFNC) announced significant executive management changes effective January 1, 2023. George Makris, Jr. transitions to the role of executive chairman, while Robert Fehlman becomes the new CEO. James Brogdon assumes the position of president and CFO. The leadership changes aim to enhance Simmons' strategic initiatives and daily operations. The company is recognized for its financial strength, having paid cash dividends for 113 consecutive years and earning accolades from Forbes.

Simmons Bank is in advanced negotiations with the City of Stillwater for a $1.5 million donation aimed at revitalizing Block 34, a vacant city block, into a sustainable public space. The initiative seeks to enhance community engagement and cultural representation in downtown Stillwater. If finalized, this donation aligns with Simmons Bank's commitment to community investment and follows its previous support for female student-athletes at Oklahoma State University. The project will include various features like an event space, landscaping, and public amenities.

Simmons Bank and Simmons First Foundation have donated $100,000 to the Central Arkansas Fellowship of Christian Athletes (FCA). This funding will enhance FCA's presence in Jefferson County by helping to staff additional representatives, provide scholarships for middle and high school athletes to attend FCA camps, and supply materials for various programs. Mark Miller, FCA's multi-area director, highlighted the importance of such support amid the challenges faced by youth today. Simmons First Foundation has a history of community investment, with a focus on youth development and well-being.

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.

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.