Simmons First reports higher earnings

The holding company for Simmons First National Bank reported a jump in core earnings of 139 percent for the third quarter, according to a news release.

Simmons First National Corp. disclosed core earnings of $25.6 million for the third quarter of 2015, an increase of $14.9 million over the same quarter in 2014. The company reported diluted core earnings per share of 85 cents, an increase of 22 cents per share from the third quarter last year.

“We continue to make good progress with our efficiency initiatives, both in revenue enhancement and in expense control,” said George Makris, chairman and CEO of the company. “Our core efficiency ratio was 57.5 percent for the quarter and our core (return on investment) was 1.33 percent.”

As of Sept. 30, the end of the third quarter, the bank reported total deposits of $6.1 billion, an increase of $2.2 billion over the third quarter of 2014, according to the release. Net interest income was up more than 88 percent from the third quarter last year to the third quarter of 2015, coming in at $78.7 million.

Arkansas-based Simmons First National Corp. claims assets of $7.6 billion and conducts financial operations in Arkansas, Kansas, Missouri and Tennessee. Simmons First has two Wichita locations.

This story was originally published October 23, 2015 at 8:52 AM with the headline "Simmons First reports higher earnings."