Simmons Q3 net income $47.2M ($0.37 EPS); revenue down 17% YoY; Better Bank savings achieved early

SIMMONS FIRST NATIONAL CORP

2023-Q3 EPS reported $1.19

Net income $47.2M vs $58.3M Q2 and $80.6M Q3 2022; adjusted EPS $0.39.
Total revenue $196.2M, down 6% QoQ and 17% YoY; NIM fell to 2.61% from 2.76%.
Noninterest expense down 6% QoQ; Better Bank Initiative delivered $15M annual cost savings one quarter early.
Period-end loans $16.77B (+9% YoY); deposits $22.23B (+3% YoY); ACL ratio 1.30%.
Book value per share up 6% YoY; tangible book value up 9%; repurchased 1.1M shares in Q3.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SIMMONS FIRST NATIONAL CORP reported the third quarter of 2023 results: net income $47.2 million, EPS $0.37.

Period: the third quarter of 2023
Net income: $47.2 million
EPS: $0.37
Result: reported results

Exact text from the filing

Simmons reported net income of $47.2 million and diluted earnings per share of $0.37 for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001171843-23-006353

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