Simmons First National Corp (SFNC) Tops Q2 EPS by 18c

Simmons First National Corp (NASDAQ: SFNC) reported Q2 EPS of $0.69, $0.18 better than the analyst estimate of $0.51.

• Net income of $74.9 million, up 27 percent from the year ago quarter and up 11 percent compared to the first quarter of 2021
• Diluted EPS of $0.69, up 28 percent from the year ago quarter and up 11 percent compared to the first quarter of 2021
• Adjusted pre-tax, pre-provision income of $74.6 million, up 2 percent from first quarter 2021 levels
• Loan production totaled $1.8 billion during the first half of 2021, on pace to significantly exceed production volume for full-year of 2020
• Total deposits of $18.3 billion, up $1.3 billion since year-end 2020 while deposits costs dropped 10 bps over the same period
• Improved macroeconomic scenario models and sharp decline in nonperforming loans (down $34.6 million linked quarter) drive $13.0 million provision expense recapture in the quarter
• Merger and acquisition activity resumes during the quarter with announced pending acquisitions of Tennessee-based Landmark Community Bank and Triumph Bancshares, Inc.

For earnings history and earnings-related data on Simmons First National Corp (SFNC) click here.

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