secwatch.observer — SEC 8-K summary
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Issuer:     SIMMONS FIRST NATIONAL CORP (SFNC)
CIK:        0000090498
Form:       8-K
Filed at:   2024-10-18T23:59:59+00:00
Accession:  0001193125-24-239249
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simmons Q3 adjusted EPS $0.37 vs $0.33 Q2; net income $24.7M; sells $252M low-yield securities
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- GAAP net income $24.7M ($0.20 diluted EPS), down from $40.8M in Q2; adjusted net income $46.0M ($0.37) up from $41.9M.
- Sold $252M of AFS securities yielding 1.29%, incurring $21.0M after-tax loss; proceeds used to pay down FHLB advances.
- Net interest margin improved 5 bps to 2.74%; cost of deposits stable at 2.79% and appear to have peaked.
- Credit quality steady: NCO ratio 0.22% (9 bps from run-off), ACL ratio 1.35%, nonperforming loan ratio 0.59%.
- TCE ratio up 31 bps to 8.15%; tangible book value per share up 4% to $16.78.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/90498/000119312524239249/0001193125-24-239249-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/90498/000119312524239249/d877997d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-239249

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