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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.
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