Simmons Q3 2021 Earnings Report
Key Takeaways
Simmons First National Corporation reported a strong third quarter in 2021, with net income increasing by 22 percent to $80.6 million and diluted earnings per share rising by 23 percent to $0.74 compared to the third quarter of 2020. The company completed acquisitions of Landmark Community Bank and Triumph Bancshares shortly after the quarter's end. Loan production reached $1.5 billion, and the commercial loan pipeline increased for the fourth consecutive quarter.
Net income for the third quarter of 2021 was $80.6 million, a 22% increase compared to $65.9 million in the third quarter of 2020.
Diluted earnings per share for the third quarter of 2021 were $0.74, a 23% increase compared to $0.60 in the same period of the prior year.
Total deposits at the end of the third quarter of 2021 were $18.1 billion, an 11% increase from $16.2 billion at the end of the third quarter of 2020.
Commercial loan pipeline rose for the fourth consecutive quarter to $1.5 billion, up 15% on a linked quarter basis.