Simmons First National Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Loans Charged Off for the Fourth Quarter of 2012
January 24, 2013 at 11:40 pm IST
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Simmons First National Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total interest income of $34,242,000 against $31,981,000 for the same period last year. Net interest income was $30,607,000 against $27,297,000 for the same period last year. Net income before income taxes was $11,889,000 against $8,863,000 for the same period last year. Net income was $8,033,000 or $0.48 per basic and diluted share against $6,305,000 or $0.37 per basic and diluted share for the same period last year. Return on average stockholders' equity was 7.83% against 6.10% for the same period last year. Return on tangible equity was 9.36% against 7.34% for the same period last year. Return on average assets was 0.90% against 0.75% for the same period last year.
For the year, the company reported total interest income of $129,134,000 against $129,056,000 for the same period last year. Net interest income was $113,517,000 against $108,660,000 for the same period last year. Net income before income taxes was $40,015,000 against $35,799,000 for the same period last year. Net income was $27,684,000 or $1.64 per basic and diluted share against $25,374,000 or $1.47 per basic and diluted share for the same period last year. Return on average stockholders' equity was 6.77% against 6.25% for the same period last year. Return on tangible equity was 8.05% against 7.54% for the same period last year. Return on average assets was 0.83% against 0.77% for the same period last year. Book value per share as at December 31, 2012 was $24.55 against $23.70 as at December 31, 2011. Tangible book value per share as at December 31, 2012 was $20.66 against $20.09 as at December 31, 2011.
The company reported net loans charged off for the fourth quarter of 2012 of $1,558,000 against $1,874,000 for the same period last year.
Simmons First National Corporation is a financial holding company. The Company, through its subsidiary, Simmons Bank (the Bank), provides banking and other financial products and services in markets located in Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. It offers commercial banking products and services to business and other corporate customers. It extends loans for a broad range of corporate purposes, including (among others) financing commercial real estate, construction of particular properties, commercial and industrial uses, acquisition and equipment financings, and other general corporate needs. It is also engaged in small business administration (SBA) and agricultural finance lending, and it offers corporate credit card products, as well as corporate deposit products and treasury management services. In addition, it offers a variety of consumer banking products and services, including (among others) savings, time, and checking deposit products.
Simmons First National Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Loans Charged Off for the Fourth Quarter of 2012