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Jun 30, 2024
Simmons Q2 2024 Earnings Report
Reported an increase in net income and diluted EPS, driven by positive progression in key profitability metrics and operating leverage.
Key Takeaways
Simmons First National Corporation reported a net income of $40.8 million and diluted EPS of $0.32 for Q2 2024. Total revenue reached $197.2 million, with a net interest margin of 2.69%. The company saw positive credit quality trends and maintained strong capital and liquidity positions.
Net income was $40.8 million and diluted EPS was $0.32.
Total revenue reached $197.2 million.
Net interest margin increased to 2.69%, up 3 bps.
Credit quality trends were positive, with decreases in nonperforming and past due loans.
Simmons
Simmons
Simmons Revenue by Segment
Revenue by Segment
Net Interest Income Revenue
CapyFin.comNoninterest Income Revenue
CapyFin.com Forward Guidance
While there is no explicit forward guidance, the report suggests that the company is well-positioned for profitable growth in a lower interest rate environment due to its liability sensitivity and strong capital/liquidity.
Positive Outlook
- Strong capital position
- Solid liquidity position
- Liability sensitive balance sheet
- Well-positioned for profitable growth in a lower interest rate environment
- Positive operating leverage driven by revenue growth
Challenges Ahead
- Uncertainty concerning slower economic growth
- Uncertainty concerning the timing of lower interest rates
- Continued normalization of the credit environment from historical lows
- Changes in the macroeconomic conditions
- Increased activity in the loan portfolio