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.
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.
Simmons First National Corporation (NASDAQ: SFNC) will release its third quarter 2022 earnings on October 25, 2022, before the market opens. The management will hold a live conference call at 9:00 a.m. Central Time to discuss the results, accessible at 1-877-270-2148 (North America). Additionally, the call will be available on the company's website for 60 days post-event. Simmons First has paid dividends for 113 consecutive years and operates over 230 branches across several states.
Simmons Bank's EVP, Steve Wade, received the 2022 ABA Foundation Community Commitment Award for his leadership in the SAFER AR Act, focusing on protecting older Americans from financial exploitation. The award will be presented on Oct. 4 during the ABA's Annual Convention in Austin, Texas. Wade's involvement in drafting HR 1391, signed into law on July 1, 2021, highlights the bank's commitment to community service. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), operates over 230 branches and has a long history of financial stability and community engagement.
Simmons Bank has appointed Maurice Butler as Senior Vice President, Director of Community Development. With nearly 30 years in banking, Butler will lead the bank's Community Reinvestment Act (CRA) initiatives, focusing on financial products for low- and moderate-income communities. He will manage Community Affairs Officers, enhancing services for underserved areas across six states. Butler previously served as SVP, Market Manager in West Tennessee. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), has a strong history of community involvement and has paid dividends for 113 consecutive years.
The Little Rock Touchdown Club has unveiled its 2022 speaker lineup, featuring notable figures such as Arkansas Razorback Head Coach Sam Pittman and former college football stars. The club, which began in 2004, has over 500 members and meets at the DoubleTree Hotel. Simmons Bank continues to be the lead sponsor, having supported the club for eight seasons. Membership starts at $90, and lunches are served during meetings. Simmons Bank, a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), operates over 230 branches across several states and has received accolades from Forbes for its banking services.
Simmons First National Corporation (NASDAQ: SFNC) reported a net income of $27.5 million for Q2 2022, a significant decrease from $65.1 million in Q1 2022 and $74.9 million in Q2 2021. Diluted EPS was $0.21, down from $0.58 in Q1 2022. The quarter was affected by merger-related costs of $19.1 million due to the acquisition of Spirit of Texas Bancshares. However, revenue increased by 20% linked quarter, driven by net interest income growth. Total loans rose 26% to $15.1 billion, with strong capital ratios supporting further growth.
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