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 ...

Simmons Bank Round-Up program streamlines saving for customers  LITTLE ROCK, Ark., Dec. 18, 2024 /PRNewswire/ -- Simmons Bank announced today its automatic savings program, Round-Up, allowed customers to save nearly $5.5 million during the first eleven months of 2024. More than 25,000 customers utilized the program during this period. According to a Bankrate survey released earlier this year, 59 percent of U.S. adults are uncomfortable with the amount of emergency savings they currently have and 27 percent ...

CLEVELAND, Tenn., Dec. 11, 2024 /PRNewswire/ -- Simmons Bank hosted a grand opening ceremony to celebrate the latest Cleveland financial center located at 86 Stuart Road Northeast. Simmons Bank operates more than 45 full-service branches throughout Tennessee."We are excited to open our new branch in the Cleveland community," said Shayne Whaley, community regional executive for Simmons Bank. "This newest branch is a testament to our commitment to investing in the growth and prosperity of the communities we s ...

Group 1 - Simmons Bank has opened a new financial center in Franklin, Tennessee, located at 3000 Mallory Lane, marking a significant investment in the local community [1][2] - The new branch spans nearly 3,000 square feet and includes a full-service branch and a drive-up ATM with quick deposit capabilities, aimed at enhancing financial services for customers [2] - The opening of the branch is expected to support local businesses, create jobs, and help individuals achieve a more secure financial future [2] Group 2 - Simmons Bank operates over 234 branches across multiple states including Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas, and has a long history dating back to its founding in 1903 [4] - The bank has been recognized for its workplace culture and service quality, being named one of the Best Companies to Work For in the South by U.S. News & World Report and one of America's Best-In-State Banks in Tennessee by Forbes in 2024 [4]