Simmons First National Corporation on Thursday said its net income in the second quarter was $22.9 million, a 14.4 percent increase from $20 million earned during the same period last year.
George A. Makris, Jr., Simmons chairman and CEO, said the Pine Bluff-based bank is "pleased" with the results.
"Competitive pressures and artificially low interest rates continue to put pressure on our net interest income but we have done a good job of diversifying our revenue through other lines of business such as our trust operations, mortgage lending, credit card services, and other wealth management offerings," he said in a statement. "We will continue to focus on improving our efficiency throughout the remainder of the year."
Year-to-date net income was 61.5 percent higher than the first half of 2015, the bank said, rising from $28.7 million to $46.4 million in 2016.
A conference call on the results is set for 3 p.m. Thursday. It can be accessed by calling (866) 298-7926 and asking for the Simmons First National Corporation call using ID 42603491. It will also be accessible on the Simmons website.
Read Friday’s Arkansas Democrat-Gazette for full details.