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When Iberiabank lowered the amount of money it expects to receive in FDIC loss-sharing, it meant some credits are performing better than expected — and that some losses might show up after the FDIC agreement runs out.
April 15 -
Simmons First National (SFNC) in Pine Bluff, Ark., has outlined a succession plan as it readies for the retirement of its chairman and chief executive, J. Thomas May.
August 15
Expense related to failed bank deals weighed on Simmons First National (SFNC) in Pine Bluff, Ark., in the first quarter.
Earnings at the $3.5 billion-asset company fell 7.8% from a year earlier, to $5.9 million. The company made 36 cents a share, one cent a share less than analysts’ estimates, according to Bloomberg.
Net interest income rose 8.3% from a year earlier, to $30 million. Net interest margin rose eight basis points year over year, to 4.01%.
Noninterest income grew 5.6% year over year, to $11.3 million, primarily because of income from trusts and account fees.
Noninterest expense rose 11.5% from a year earlier, to $31.9 million, because of costs stemming from Simmons First National’s acquisitions last year of
Simmons First National’s loan book grew roughly 6.6% year over year, to $1.6 billion.
"Considering interest rates continue at historical lows and due to the seasonality that we experience in the first quarter each year, we were pleased with our overall earnings performance," J. Thomas May, Simmons First National’s chief executive, said in a press release.
