Welcome to our dedicated page for Simmons First National news (Ticker: SFNC), a resource for investors and traders seeking the latest updates and insights on Simmons First National stock.
Simmons First National Corporation (NASDAQ: SFNC) is a renowned financial holding company headquartered in Pine Bluff, Arkansas. Founded in 1903, the company has a rich history of providing banking and financial services. Its principal subsidiary, Simmons Bank, operates 233 branches across Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas.
Simmons Bank offers a wide range of financial services, including consumer, real estate, and commercial loans, as well as checking, savings, and time deposits. Their loan portfolio is diversified, comprising construction, single-family residential, commercial loans, and various consumer loans such as credit card loans and student loans. In addition, Simmons Bank provides trust services, investments, agricultural finance lending, equipment lending, insurance products, and small business administration lending.
In 2023, Simmons Bank was recognized by Forbes as one of 'America's Best Midsize Employers' and among the 'World's Best Banks' for the fourth consecutive year. This recognition underscores the company's commitment to exceptional service and innovative financial solutions delivered with a client-centric approach. Despite its growth, the bank remains dedicated to the founder's mission of prioritizing customer needs.
Simmons Bank has achieved numerous milestones over the years, including being the first Arkansas bank to offer a national revolving credit card, BankAmericard® (now Visa®). The bank has consistently demonstrated robust financial performance, with strong loan and deposit growth, reflecting in its total assets of $7.6 billion and extensive branch and ATM network.
The bank's commitment to the communities it serves is evident through its various initiatives and investments, such as the recent grand opening of a new financial center in Dallas and active participation in community development through events like the Simmons Bank Championship, a PGA TOUR Champions' event. These community-focused efforts highlight Simmons Bank's dedication to fostering economic growth and development.
Recently, Simmons First National Corporation appointed Daniel Hobbs as Executive Vice President and Chief Financial Officer, bringing extensive experience and a proven track record in the financial services industry. This strategic appointment is expected to bolster the company's financial leadership and support its growth strategy.
For the latest quarter, Simmons First National Corporation reported net income of $38.9 million, reflecting its solid financial standing and effective risk management practices. The company has maintained a strong capital position, with significant reserves and a disciplined approach to loan and deposit pricing.
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.
Simmons First National (NASDAQ: SFNC) has announced the release date for its third quarter 2024 earnings. The company will release earnings prior to market opening on Friday, October 18, 2024. A live conference call to review the earnings will be conducted by management at 9:00 a.m. Central Time on the same day.
Interested parties can participate in the call by dialing 1-844-481-2779 (North America only) and using the conference ID 10193072. The call will also be available live or recorded on the company's website at simmonsbank.com under 'Investor Relations'. The recorded version will be accessible for at least 60 days after the call.
Simmons First National , a Mid-South based financial holding company, has paid cash dividends to shareholders for 115 consecutive years. Its main subsidiary, Simmons Bank, operates 234 branches across six states and has been recognized for its workplace quality and banking services in 2024.
The inaugural Simmons Bank Championship presented by Stephens, a PGA TOUR Champions playoff event, has secured commitments from notable players Stewart Cink and Mike Weir. The tournament will take place October 21-27 at Pleasant Valley Country Club in Little Rock, Arkansas. It will serve as the second round of the PGA TOUR Champions annual Charles Schwab Cup Playoffs, featuring the top 54 players competing for a $2.3 million prize.
The event marks the first-ever PGA TOUR event in Arkansas and the first PGA TOUR-sanctioned tournament in the state since 2010. Net proceeds will support multiple nonprofit organizations in Arkansas. Tickets are now on sale, with corporate sponsorships, hospitality packages, and Pro-Am golf experiences also available.
The inaugural Simmons Bank Championship presented by Stephens, a PGA TOUR Champions playoff event, has secured commitments from top players Padraig Harrington, Steven Alker, and K.J. Choi. Set for October 21-27 at Pleasant Valley Country Club in Little Rock, Arkansas, the tournament will feature 54 players competing for a $2.3 million purse. This event marks the first-ever PGA TOUR event in Arkansas and the second round of the Charles Schwab Cup Playoffs. With these additions, five of the top ten in the current Charles Schwab Cup standings will participate. The championship aims to support multiple nonprofit organizations in Arkansas through its charitable arm.
The inaugural Simmons Bank Championship presented by Stephens, a PGA TOUR Champions playoff event, has secured commitments from top players Ernie Els (No. 1) and Jerry Kelly (No. 10) in the Charles Schwab Cup standings. The tournament will be held October 21-27, 2024, at Pleasant Valley Country Club in Little Rock, Arkansas, marking the first-ever PGA TOUR event in the state.
The championship will feature a 54-player field competing for a $2.3 million purse. It serves as the second round of the PGA TOUR Champions annual Charles Schwab Cup Playoffs. Tickets are now on sale, with corporate sponsorships and Pro-Am positions also available. Net proceeds will support multiple nonprofit organizations in Arkansas.
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