Simmons First National Q4 Earnings Miss Estimates

(RTTNews) - Simmons First National Corp. (SFNC), a provider of banking products and services to individual and corporate customers in Arkansas, Missouri, and Kansas, Thursday reported a drop in earnings for the fourth quarter, chiefly due to higher expenses. Earnings, excluding certain items, also missed analysts' estimates by a penny.

Earnings for the quarter decreased to $3.79 million, or $0.23 per share, from $8.03 million, or $0.48 per share, last year.

Excluding certain items, earnings were $7.75 million, or $0.48 per share, compared with $7.4 million, or $0.44 per share, a year earlier. On average, 3 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.49 for the quarter. Analysts' estimates typically exclude one-time items.

Total interest income for the 3-month period rose to $42.89 million from $34.24 million a year ago. Net interest income was $39.63 million for the quarter, compared with $30.61 million a year ago. Net interest margin rose to 4.70 percent from 3.99 percent a year earlier.

For the three months to December, non-interest income decreased to $7.72 million from $14.74 million a year earlier. Non-interest expense rose to $41.68 million from $32.17 million a year earlier.

Deposits increased to $3.697 billion from $2.874 billion a year ago. Net loans increased to $2.377 billion from $1.894 billion last year.

Currently the stock is trading down 0.48 percent, or $0.18, at $37.06 on the Nasdaq.