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Sep 30, 2023
Simmons Q3 2023 Earnings Report
Simmons reported net income and diluted earnings per share for Q3 2023.
Key Takeaways
Simmons First National Corporation reported a net income of $47.2 million and diluted earnings per share of $0.37 for the third quarter of 2023. Adjusted earnings were $48.8 million and adjusted earnings per share were $0.39. The company achieved its Better Bank Initiative cost savings target one quarter sooner than anticipated, leading to a 5% decline in noninterest expense. Average loans were up 9% and average deposits were up 3% year-over-year.
Net income of $47.2 million and diluted EPS of $0.37.
Adjusted earnings of $48.8 million and adjusted diluted EPS of $0.39.
Execution of Better Bank Initiative led to a 5% decline in noninterest expense.
Total revenue of $196.2 million; PPNR of $64.2 million; Adjusted PPNR of $66.3 million.
Forward Guidance
This press release contains forward-looking statements regarding Simmons' future growth, business strategies, lending capacity, and other financial aspects. These statements are based on various assumptions and involve inherent risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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