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Jun 30, 2020
Simmons Q2 2020 Earnings Report
Reported net income of $58.8 million for the quarter ended June 30, 2020.
Key Takeaways
Simmons First National Corporation reported a net income of $58.8 million for the second quarter of 2020, an increase of 5.7% compared to the same period in 2019. Diluted earnings per share were $0.54, a decrease of 6.9% compared to the prior year. Total loans were $14.6 billion, and total deposits were $16.6 billion.
Net income for the quarter ended June 30, 2020, was $58.8 million.
Diluted earnings per share were $0.54, a decrease of 6.9% compared to the same period in the prior year.
Total loans reached $14.6 billion at June 30, 2020, an 11.3% increase year-over-year.
Total deposits were $16.6 billion at June 30, 2020, a 22.9% increase since June 30, 2019.
Simmons
Simmons
Simmons Revenue by Segment
Revenue by Segment
Net Interest Income Revenue
CapyFin.com Forward Guidance
The company expects to close an additional 23 branch locations and one loan production office during the fourth quarter of 2020, with an expected net annual cost savings of approximately $6.8 million.