Simmons First National Q2 net income $40.8M, EPS $0.32; NIM up 3 bps to 2.69%

SIMMONS FIRST NATIONAL CORP

2024-Q2 EPS reported $0.63

Net income $40.8M ($0.32 diluted EPS) vs $38.9M ($0.31) in Q1 2024; revenue $197.2M up QoQ.
Net interest margin rose 3 bps to 2.69%; loan yield up 15 bps, deposit cost up only 4 bps.
Credit quality steady: NCO ratio 0.19%, NPL ratio fell to 0.60% from 0.63% in Q1.
Tangible common equity ratio improved 9 bps to 7.84%; CET1 ratio 12.00%.
Recorded $0.3M FDIC special assessment in Q2; total FDIC assessments now $12.4M since Q4 2023.

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