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 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.
Simmons First National Corporation (NASDAQ: SFNC) has declared a quarterly cash dividend of $0.19 per share, payable on October 3, 2022, to shareholders of record as of September 15, 2022. This marks a 6% increase from last year's dividend. The annualized rate stands at $0.76, with a ten-year compound annual growth rate of 7%. Simmons has paid dividends for 113 consecutive years, with only 23 U.S. companies achieving a similar record. The bank was recognized by Forbes as one of “America’s Best Banks” for the second consecutive year.
Simmons First National Corporation (NASDAQ: SFNC) is set to release its second quarter 2022 earnings on July 21, 2022, before market opening. A live conference call will be held at 9:00 a.m. CT to discuss the earnings. Interested parties can join the call by dialing 1-877-270-2148. The company has a strong history of paying cash dividends for 113 consecutive years and operates over 200 branches across multiple states in the U.S.
Simmons Bank was recognized in Forbes' list of “America’s Best Banks” and “World’s Best Banks” in 2022.
Simmons First National Corporation (NASDAQ: SFNC) reported Q1 2022 net income of $65.1 million ($0.58 per share), down from $67.4 million in Q1 2021. Core earnings rose to $67.2 million ($0.59 per share). Newly funded loans reached $2.5 billion, exceeding paydowns, while total deposits remained stable at $19.4 billion. The commercial loan pipeline grew to $2.4 billion, marking the sixth quarter of increased activity. Regulatory capital ratios exceed guidelines, with a CET1 ratio of 13.52%. Post-quarter, the acquisition of Spirit of Texas Bancshares was completed, enhancing Simmons' Texas presence.
Simmons First National Corporation (NASDAQ: SFNC) has declared a quarterly cash dividend of $0.19 per share, representing a 6% increase from last year. This dividend is payable on July 5, 2022, to shareholders on record as of June 15, 2022. With this, the company showcases a robust track record of 113 consecutive years of returning capital to shareholders through dividends. The annualized cash dividend rate is $0.76 per share, reflecting a 7% compound annual growth rate over the past ten years.
Simmons Bank has been recognized as one of the "World's Best Banks" by Forbes for the third consecutive year, a distinction achieved through evaluations of 45,000 banking customers across 27 countries.
This award reflects customer trust in Simmons Bank's financial products and exceptional service. The bank has also received other accolades, including "America's Best Bank 2022" and prior mentions in Forbes’ lists from previous years.
Simmons Bank operates around 200 branches across multiple states and has a 119-year history in delivering client-centric financial solutions.
Simmons First National Corp. (NASDAQ: SFNC) has completed its acquisition of Spirit of Texas Bancshares (effective April 8, 2022), significantly increasing its presence in Texas.
This deal doubles Simmons' size in Texas, adding approximately $4.8 billion in loans and $4.9 billion in deposits. Simmons now has about $28 billion in assets and 57 branches in the Texas Triangle, enhancing its market reach. The merger aligns with Simmons' strategy to bolster shareholder value through an expanded product and service offering in growing markets.
Simmons First National Corp. (NASDAQ: SFNC) will disclose its first quarter 2022 earnings on April 28, 2022, before market opening. The management has scheduled a live conference call at 9:00 a.m. CDT that day. Interested listeners can join by dialing 1-866-298-7926. The call will also be accessible live and recorded on the company’s website, with playback available for 60 days. Simmons First National operates approximately 200 branches across six states and was recognized in 2022 by Forbes as one of "America’s Best Banks."
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