Simmons Q4 2019 Earnings Report
Key Takeaways
Simmons First National Corporation reported a net income of $52.7 million for Q4 2019, a decrease compared to the same period in 2018. However, core earnings, excluding merger-related and branch right-sizing costs, increased to $71.1 million. The company's performance was influenced by recent mergers and investments in technology initiatives.
Net income for Q4 2019 was $52.7 million, or $0.49 diluted earnings per share.
Core earnings for Q4 2019 were $71.1 million, excluding $18.4 million in net after-tax merger-related and branch right-sizing costs.
Core diluted earnings per share were $0.66, an increase of $0.05 from the same period in 2018.
Total loans increased by $1.4 billion on a linked-quarter basis, primarily due to the fourth quarter merger.
Simmons
Simmons
Forward Guidance
During 2020, the company will continue to implement technology initiatives, including the expansion of digital offerings, and adjust their business strategy to take advantage of successful growth.
Positive Outlook
- Continue to implement technology initiatives
- Expand digital offerings
- Adjust business strategy to take advantage of successful growth
- Company is optimistic about the future