earnings
confidence high
sentiment positive
materiality 0.75
Simmons First National Q2 net income $66.7M, adjusted EPS $0.50, NIM stable at 3.84%
SIMMONS FIRST NATIONAL CORP
- Net income $66.7M ($0.46 diluted EPS); adjusted net income $72.2M ($0.50 adjusted diluted EPS).
- Total revenue $248.6M, up 3% linked quarter; net interest margin unchanged at 3.84%.
- Committed loan production $1.8B, highest in nearly 4 years; total loans up 3% annualized linked quarter.
- Adjusted efficiency ratio improved to 54.26% from 56.16% in Q1; repurchased 0.7M shares at avg $21.52.
- Net charge-off ratio 0.20%; allowance for credit losses to loans 1.32%; provision exceeded net charge-offs by $8.3M.