Core Insights - Simmons Bank has appointed Leasa Melton as the community division director of payment product and sales strategy, focusing on the development and implementation of payment products [1] - Leasa Melton brings over 20 years of banking experience, previously serving as vice president of product strategy at a regional financial services company [1] - Simmons Bank has a strong reputation, having been recognized by various publications for its services and workplace environment [3] Company Overview - Simmons Bank is a wholly owned subsidiary of Simmons First National Corporation, operating 222 branches across multiple states [3] - The bank has a long history, founded in 1903, and has paid cash dividends for 116 consecutive years [3] - In 2024, Simmons Bank received accolades from Newsweek, U.S. News & World Report, and Forbes for its regional banking services and workplace culture [3]

Financial Performance - Net income available to common shareholders for the year ended December 31, 2024, was $152.7 million, or $1.21 diluted earnings per share, compared to $175.1 million, or $1.38 diluted earnings per share for 2023[217]. - Adjusted earnings for the year ended December 31, 2024, were $177.9 million, or $1.41 adjusted diluted earnings per share, compared to $207.7 million, or $1.64 adjusted diluted earnings per share in 2023[217]. - Included in 2024 results were $25.2 million of certain items, net of tax, primarily related to the loss on sale of securities, a FDIC special assessment, and branch right-sizing initiatives[217]. - Included in 2023 results were $32.7 million of certain items, net of tax, primarily related to early retirement program costs, loss on sale of securities, a FDIC special assessment, and branch right-sizing initiatives[217]. Assets and Liabilities - As of December 31, 2024, Simmons First National Corporation had total consolidated assets of $26.88 billion, total consolidated loans of $17.01 billion, total consolidated deposits of $21.89 billion, and equity capital of $3.53 billion[18]. - As of December 31, 2024, the company owned $6.17 billion in investment securities, including $3.64 billion in held-to-maturity securities and $2.53 billion in available-for-sale securities[116]. - As of December 31, 2024, the company's total investment in the Federal Home Loan Bank of Dallas was $56.2 million[101]. Acquisitions and Growth Strategy - The company has completed 21 whole bank acquisitions since 1990, including the acquisition of Reliance Bancshares, Inc. in April 2019, which added approximately $1.5 billion in assets and 22 branches[27]. - In October 2019, the acquisition of The Landrum Company added approximately $3.4 billion in assets and strengthened the company's position in Missouri, Oklahoma, and Texas[28]. - The acquisition of Landmark Community Bank and Triumph Bancshares in October 2021 provided a combined total of $1.82 billion in assets, enhancing the company's footprint in Tennessee[29]. - The acquisition of Spirit of Texas Bancshares in April 2022 added approximately $3.1 billion in assets, further strengthening the company's position in Texas[30]. - The company focuses on organic growth opportunities in addition to considering strategic merger and acquisition opportunities[31]. Regulatory Compliance and Capital Management - The Company is required to maintain "well-capitalized" and "well-managed" status for its bank subsidiaries as defined by the FRB[48]. - The Basel III Capital Rules require a minimum common equity Tier 1 (CET1) capital ratio of 4.5% and a capital conservation buffer of 2.5%[66]. - Under the fully-phased in Basel III Capital Rules, the minimum ratios including the capital conservation buffer are CET1 to risk-weighted assets of at least 7.0%, Tier 1 capital to risk-weighted assets of at least 8.5%, and total capital to risk-weighted assets of at least 10.5%[70]. - As of December 31, 2024, Simmons Bank was classified as "well capitalized" based on the capital ratios established by the Basel III Capital Rules[73]. - The company is required to maintain a total risk-based capital ratio of at least 10% to be considered well capitalized[12]. Risk Management - The effectiveness of the company's risk management framework is uncertain, and any flaws could lead to unexpected losses and regulatory scrutiny[151]. - The company maintains a risk management framework that includes oversight of third-party service providers to mitigate cybersecurity risks[186]. - The company is subject to fraud risks, including deposit and loan fraud, which could materially impact its business and results of operations[149]. - The company faces significant competition for acquisition candidates, which may hinder its ability to identify and acquire suitable targets on acceptable terms[144]. Employee and Operational Insights - As of December 31, 2024, the company had approximately 2,946 full-time equivalent associates, with no labor disputes reported[43]. - The company has implemented extensive training and development programs for associates to enhance skills and promote from within[41]. - The Company conducts financial operations from approximately 222 financial centers located in Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas[192]. Market and Economic Conditions - The company is vulnerable to economic conditions in the states it operates, which could affect loan repayment and collateral values[137]. - Continued inflationary pressures could increase operating costs for both the company and its borrowers, potentially leading to higher default rates[136]. - A significant portion of the loan portfolio includes commercial real estate and industrial loans, which present heightened lending risks due to their reliance on economic conditions[128]. Cybersecurity and Information Security - Cybersecurity threats are increasing, and the company has implemented a comprehensive information security program to manage these risks[188]. - The Company has established an information technology committee that receives regular reports concerning the information security program and cybersecurity matters[190]. - The Company’s board of directors has approved various information security-related policies, including the Acceptable Use Policy and Information Security Policy[189]. Shareholder and Stock Information - The Company has a stock repurchase program under which it may repurchase up to $175.0 million of its Class A Common Stock[199]. - The 2024 stock repurchase program has replaced the 2022 program, which was set to terminate on January 31, 2024[199]. - The performance graph indicates that the cumulative total shareholder return on the Company's Common Stock was 99.47 as of December 31, 2024, compared to 100.00 on December 31, 2019[204].

Core Points - Simmons First National Corporation has declared a quarterly cash dividend of $0.2125 per share, marking a 1% increase from the previous year [1] - The annualized cash dividend rate of $0.85 for 2025 reflects a ten-year compound annual growth rate of 6% and signifies the 116th consecutive year of cash dividends [2] - Simmons is recognized as one of only 26 U.S. publicly traded companies that have paid dividends for over 100 years, and it has increased its dividend for 14 consecutive years, earning the title of "Dividend Contender" [2] - Simmons Bank operates 222 branches across several states and has received multiple accolades, including recognition as one of America's Best Regional Banks by Newsweek [3]

Simmons First National Corporation (NASDAQ:SFNC) Q4 2024 Results Conference Call January 22, 2025 8:30 AM ET Company Participants Ed Bilek - Director, Investor Relations Jay Brogdon - President Daniel Hobbs - CFO George Makris - Chairman & CEO Conference Call Participants Woody Lay - KBW Matt Olney - Stephens David Feaster - Raymond James Gary Tenner - D.A. Davidson Stephen Scouten - Piper Sandler Operator Good morning, and welcome to the Simmons First National Corporation Fourth Quarter Earnings Conference ...

Simmons First National (SFNC) reported $208.5 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 17.4%. EPS of $0.39 for the same period compares to $0.40 a year ago.The reported revenue represents a surprise of +2.26% over the Zacks Consensus Estimate of $203.9 million. With the consensus EPS estimate being $0.35, the EPS surprise was +11.43%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectatio ...

Simmons First National (SFNC) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.43%. A quarter ago, it was expected that this bank holding company would post earnings of $0.33 per share when it actually produced earnings of $0.37, delivering a surprise of 12.12%.Over the last four qu ...

Financial Performance - Net income for Q4 2024 was $48.3 million, up from $24.7 million in Q3 2024 and $23.9 million in Q4 2023, with diluted EPS of $0.38[5] - Total revenue for Q4 2024 reached $208.5 million, compared to $174.8 million in Q3 2024 and $177.6 million in Q4 2023[4] - Adjusted total revenue for Q4 2024 was $208.5 million, with adjusted pre-provision net revenue (PPNR) of $69.2 million[4] - Noninterest income for Q4 2024 was $43.6 million, significantly higher than $17.1 million in Q3 2024 and $22.0 million in Q4 2023[11] - Net interest income for Q4 2024 totaled $164.9 million, compared to $157.7 million in Q3 2024 and $155.6 million in Q4 2023[8] - Basic earnings per share for Q4 2024 were $0.38, up from $0.20 in Q3 2024, marking an increase of 90.0%[37] - Adjusted earnings for Q4 2024 were $49,634,000, compared to $46,005,000 in Q3 2024 and $50,215,000 in Q4 2023[48] - Net income for the year-to-date reached $152,693,000, a significant increase from $104,374,000 in the previous quarter[50] Asset and Loan Management - Total loans decreased to $17,006 million in Q4 2024 from $17,336 million in Q3 2024[4] - Total loans at the end of Q4 2024 were $17.0 billion, a decrease from $17.3 billion in Q3 2024 and an increase from $16.8 billion in Q4 2023[16] - Net loans decreased to $16,770,918 as of December 31, 2024, from $17,102,817 as of September 30, 2024, reflecting a decline of approximately 1.9%[36] - Average total loans for Q4 2024 were $17,212,034,000, reflecting a stable loan portfolio[53] Deposit Trends - Total deposits were $21,886 million in Q4 2024, slightly down from $21,935 million in Q3 2024[4] - Total deposits at the end of Q4 2024 were $21.9 billion, slightly down from $21.935 billion in Q3 2024, with a notable decline in time deposits and brokered deposits[18] - Total deposits were $21,885,750 as of December 31, 2024, down from $21,935,434 as of September 30, 2024, indicating a decrease of about 0.2%[36] Credit Quality and Losses - The allowance for credit losses to loans ratio was 1.38% at the end of Q4 2024, compared to 1.35% in Q3 2024[4] - Provision for credit losses totaled $13.3 million in Q4 2024, compared to $12.1 million in Q3 2024 and $10.0 million in Q4 2023, indicating a normalization of the credit environment[20] - Total nonperforming loans at the end of Q4 2024 were $110.7 million, up from $101.7 million in Q3 2024 and $84.5 million in Q4 2023[22] - The net charge-off ratio for Q4 2024 was 0.27%, compared to 0.22% in Q3 2024 and 0.11% in Q4 2023, indicating an increase in credit losses[21] - Total loans charged off for the quarter ended December 31, 2024, were $12,740 thousand, compared to $10,662 thousand in the previous quarter, representing an increase of 19.5%[42] Efficiency and Ratios - The efficiency ratio improved to 65.66% in Q4 2024 from 75.70% in Q3 2024, reflecting better operational efficiency[15] - The tangible common equity ratio was 8.3% at the end of Q4 2024, up from 8.2% in Q3 2024 and 7.7% in Q4 2023[25] - The total risk-based capital ratio improved to 14.61% in Q4 2024, compared to 14.25% in Q3 2024[38] - The equity to assets ratio improved to 13.13% in Q4 2024, compared to 12.94% in Q3 2024[38] Future Outlook - The company is cautiously optimistic about 2025, monitoring factors such as inflation, interest rates, and regulatory changes[2] - Forward-looking statements indicate potential growth in lending capacity and digital banking initiatives, but are subject to various risks and uncertainties[34] Stockholder Information - Total stockholders' equity at the end of Q4 2024 was $3.5 billion, an increase of $102.4 million from $3.4 billion in Q4 2023[24] - The company did not repurchase shares during Q4 2024, with remaining authorization under the stock repurchase program at approximately $175 million[27] - Cash dividends declared per common share increased to $0.210 in Q4 2024, compared to $0.200 in Q4 2023[44] - The tangible book value per common share increased to $16.80 from $15.92 year-over-year[52]

PINE BLUFF, Ark., Jan. 21, 2025 /PRNewswire/ --George Makris, Jr., Simmons' Chairman and Chief Executive Officer, commented on the quarterly results:Simmons' fourth quarter results were encouraging as we head into 2025.  Profitability trends improved and should be a good foundation from which to build. While we are cautiously optimistic as we enter the new year, we are also watching several factors that could impact us in 2025: a new administration and how its policies affect domestic growth; inflation and ...

Analysts on Wall Street project that Simmons First National (SFNC) will announce quarterly earnings of $0.35 per share in its forthcoming report, representing a decline of 12.5% year over year. Revenues are projected to reach $203.9 million, increasing 14.8% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timefram ...

PINE BLUFF, Ark., Dec. 30, 2024 /PRNewswire/ -- Simmons First National Corporation (NASDAQ: SFNC) today announced it is scheduled to release fourth quarter 2024 earnings after the market closing on Tuesday, January 21, 2025.  Management will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Wednesday, January 22. Interested parties can listen to the call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporati ...