secwatch.observer — SEC 8-K summary
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Issuer:     SIMMONS FIRST NATIONAL CORP (SFNC)
CIK:        0000090498
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001171843-23-006353
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/90498/000117184323006353/0001171843-23-006353-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/90498/000117184323006353/f8k_102323.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-006353

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer