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Dec 31, 2021
Simmons Q4 2021 Earnings Report
Reported record earnings, completed acquisitions of Landmark Community Bank and Triumph Bancshares, Inc., and authorized a new share repurchase program.
Key Takeaways
Simmons First National Corporation reported a net income of $48.2 million for the fourth quarter of 2021, compared to $53.0 million in the fourth quarter of 2020. Diluted earnings per share for the fourth quarter of 2021 were $0.42, compared to $0.49 for the fourth quarter of 2020. The company's board of directors has declared a quarterly cash dividend on the Company’s Class A common stock of $0.19 per share.
Newly funded loans and advances topped $2.6 billion in the fourth quarter.
Unfunded commitments rose 31 percent during the quarter.
Commercial loan pipeline rose for the fifth consecutive quarter and is more than double that of a year ago.
Total deposits at the end of the fourth quarter of 2021 were $19.4 billion, an increase of $2.4 billion, or 14 percent, from $17.0 billion at the end of the fourth quarter of 2020.
Simmons
Simmons
Forward Guidance
The company anticipates cost savings from the acquisitions are expected to be achieved, in their entirety, in 2022.