Simmons First National shares rise 2% on earnings beat

Published 21/01/2025, 22:48
Simmons First National shares rise 2% on earnings beat

PINE BLUFF, Ark. - Simmons First National Corporation (NASDAQ:SFNC) reported fourth quarter earnings that exceeded analyst expectations, sending shares up 2% in aftermarket trading Tuesday.

The regional bank posted adjusted earnings per share of $0.39, topping the consensus estimate of $0.35. Revenue came in at $208.5 million, roughly in line with expectations of $208.69 million.

Net income for the quarter was $48.3 million, compared to $24.7 million in the third quarter of 2024 and $23.9 million in the fourth quarter of 2023.

"Simmons' fourth quarter results were encouraging as we head into 2025. Profitability trends improved and should be a good foundation from which to build," said George Makris, Jr., Simmons' Chairman and CEO.

The company reported net interest margin of 2.87% in Q4, up 13 basis points from the previous quarter. Cost of deposits decreased 19 basis points to 2.60%.

Total (EPA:TTEF) loans at the end of Q4 were $17.0 billion, down from $17.3 billion at the end of Q3. The decrease was primarily due to normal seasonality in agricultural and mortgage warehouse loans.

Simmons maintained strong capital levels, with a common equity tier 1 ratio of 12.38% at quarter-end.

Looking ahead, Makris said the company is "cautiously optimistic" for 2025 but is watching factors like inflation, interest rates, and regulatory changes that could impact results.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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