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Simmons First earnings up 50% in second quarter

By Gavin Lesnick

This article was published July 17, 2014 at 8:53 a.m.

Pine Bluff-based Simmons First National Corp. on Thursday reported net income of $9.9 million in the second quarter, a nearly 50.7 percent increase from about $6.6 million it posted in the same period the year before.

Diluted earnings per share were 60 cents compared with 40 cents a year earlier.

Bank Chairman and CEO George Makris Jr. called it a "landmark" quarter that produced record core earnings, a figure that excludes $755,000 in net after-tax earnings included in the net income.

Simmons said total loans were $2.4 billion at the close of the quarter, an increase of $512 million, or 27.3 percent, from the year before. Net interest income, meanwhile, was $40.4 million, up 36.7 percent from $10.8 million last year.

A conference call to review the quarter's financial results is set for 3 p.m. Thursday. It can be accessed by calling (866) 298-7926 and asking for the Simmons First National Corp. conference call with ID 64281536. It will also be played live and archived on the bank's website.

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