Business
Simmons First National Corporation Reports First Quarter 2025 Results
PINE BLUFF, Ark., April 16, 2025 /PRNewswire/ -- George Makris, Jr., Simmons' Chairman and Chief Executive Officer, commented on first quarter 2025 results:
About this update from Simmons First National Corporation
[{"type":"text","content":"PINE BLUFF, Ark., April 16, 2025 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nGeorge Makris, Jr., Simmons' Chairman and Chief Executive Officer, commented on first quarter 2025 results:\nWe are pleased with our first quarter's performance, which demonstrated the continued improvement in profitability fundamentals. Increases in loans and customer deposits combined with a decrease in wholesale funding have driven a healthy increase in our net interest margin and positive trends in total revenue.\nWe increased the loss provision on two specific credit relationships that we have been watching for some time due to unfavorable events that occurred for both since the end of 2024. Otherwise, we believe the asset quality in our portfolio remains sound. We are, though, carefully monitoring the economic volatility in the United States and the world. Financial markets suffer in times of uncertainty, which appears present today, and can threaten the pace of business investment.\nWe are hopeful for stability in economic policy, which will provide better insight into future growth opportunities. In the meantime, we will continue to invest in our business as well as the communities we serve.\n Financial Highlights\n1Q25\n4Q24\n1Q24\n1Q25 Highlights\nBalance Sheet (in millions)\nComparisons reflect 1Q25 vs 1Q24 unless otherwise noted\n• Total revenue of $209.6 million and PPNR1 of $65.0 million\n• Adjusted total revenue1 of $209.6 million and adjusted PPNR1 of $66.0 million\n• Net interest margin of 2.95%, up 8 bps; the 4th consecutive quarterly increase in net interest margin\n• Cost of deposits at 2.44%, down 16 bps; customer deposits up $183 million\n• Noninterest income of $46.2 million, up 6% linked quarter\n• Noninterest expense includes a $4.3 million charge related to a customer deposit fraud event identified during the quarter\n• Nonaccrual loans include two specific credit relationships totaling $49.8 million\n• $15.6 million of incremental provision expense associated with the two specific credit relationships\n• NCO ratio of 23 bps in 1Q24; 4 bps of NCO ratio associated with run-off portfolio\nTotal loans\n$17,094\n$17,006\n$17,002\nTotal investment securities\n6,107\n6,166\n6,735\nTotal deposits\n21,685\n21,886\n22,353\nTotal assets\n26,793\n26,876\n27,372\nTotal shareholders' equity\n3,531\n3,529\n3,439\nPerformance Measures (in mill...