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Simmons First announces record first quarter earnings Friday, Apr 20, 2007 Arkansas News Bureau LITTLE ROCK - Simmons First National Corp. announced Thursday record first-quarter earnings for the period that ended March 31. Net income for the quarter was $6.6 million, an 11 percent increase over the first quarter last year. Diluted earnings per share were 46 cents for the first quarter this year compared to 41 cents for the same period last year, a 12.2 percent rise. Net interest income rose slightly to $21.5 million since its $20.2 million mark in the same quarter last year. Non-interest income rose to $11.5 million from $10.6 million last year. Loans totaled $1.8 billion at the end of the quarter, an increase of $107 million, or 6.3 percent, compared to the same period a year ago. Simmons attributed the rise to increased demand in real estate loans. Deposits rose 5.4 percent to $2.2 billion. Simmons First opened a new financial center in Beebe on Jan. 2, the bank's first entry into that market. It also plans to open financial centers in Paragould, North Little Rock, Sherwood and Little Rock later this year, as well as a regional headquarters facility in Rogers. The company already has eight community banks throughout Arkansas which conduct financial operations in 48 communities. Shares of Simmons First (NasdaqGS: SFNC) closed Thursday at $28.89, down 12 cents. |
