Simmons First National Corp. had a net income of $8.74 million for the first quarter of 2015, up more than 100 percent from $4.35 million during the same quarter last year, the Pine Bluff bank announced Thursday.
The bank earned 39 cents per share for the quarter, up 44 percent from 27 cents in the first quarter of 2014, the company said.
Simmons First reported core earnings of 70 cents per share, an increase of 24 cents from last quarter. Core earnings excludes $7 million in net after-tax expenses, the bank said.
The bank reported net interest income of $53 million in the first quarter of 2015, an increase of $11 million from the same quarter last year, because of the earning assets acquired through the acquisition of Delta Trust & Banking Corp., Liberty Bancshares Inc. and Community First Bancshares Inc., the company said.
Simmons completed the merger with Delta Trust last September and finished its acquisition of Liberty and Community First banks in February, according to the bank's website.
The first quarter of 2015 included $10.4 million in various merger-related costs for those transactions, the bank said.
Company executives will hold a conference call at 3 p.m. Thursday to go over the report. Those interested may listen in by dialing (866) 298-7926 and using the conference ID number 15375652 or by visiting the company’s website, www.simmonsfirst.com