secwatch.observer — SEC 8-K summary
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Issuer:     SIMMONS FIRST NATIONAL CORP (SFNC)
CIK:        0000090498
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001171843-23-002500
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simmons First National Q1 net income $45.6M, EPS $0.36; NII down on deposit cost pressure
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- Net income $45.6M ($0.36 diluted EPS) vs Q4 $83.3M ($0.65) and Q1 2022 $65.1M ($0.58).
- Total revenue $223.7M, down 6% linked quarter; net interest income $177.8M, down 8% on higher deposit costs.
- Uninsured deposits 23% of total deposits; additional liquidity 2.0x coverage, loan-to-deposit ratio 74%.
- Credit quality stable: NPL coverage 324%, allowance to loans 1.25%, net charge-off ratio 0.03%.
- Better Bank Initiative targets ~$15M annual cost savings, fully in run-rate by end of 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/90498/000117184323002500/0001171843-23-002500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/90498/000117184323002500/f8k_042523.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-002500

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