Simmons Q2 2022 Earnings Report
Key Takeaways
Simmons First National Corporation reported a net income of $27.5 million for Q2 2022. The quarter's results were significantly impacted by accounting adjustments and one-time merger expenses related to the acquisition of Spirit of Texas Bancshares. Excluding these items, the adjusted diluted earnings per share were $0.52.
Diluted EPS was $0.21 and adjusted diluted EPS was $0.52
Revenue increased 20% on a linked quarter basis driven by the acquisition of Spirit, solid legacy SFNC net interest income growth and net interest margin expansion
Noninterest expenses increased 22% on a linked quarter basis. Excluding merger related costs and certain other items, adjusted noninterest expense increased 9%
Total loans up 26% and total deposits up 14% on a linked quarter basis. Legacy SFNC loans up 7% and deposits relatively unchanged
Simmons
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Simmons Revenue by Segment
Forward Guidance
No specific forward guidance provided in the document.