PINE BLUFF, Ark. – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced net income of $6.3 million and diluted earnings per share of $0.37 for the quarter ended December 31, 2011.
J. Thomas May, Chairman and CEO, said, “Because the fourth quarter of 2010 included a considerable non-core net gain, there is a significant variance when comparing quarter to quarter earnings results. Obviously, there is a lot of noise in our fourth quarter comparative results due to the October 15, 2010, FDIC-assisted acquisition in Kansas. After taxes, the combined fourth quarter 2010 nonrecurring items from that acquisition contributed $9.7 million to net income, or $0.56 to diluted earnings per share. After adjusting for the acquisition, comparable core earnings for the fourth quarter 2010 were $6.9 million, or $0.40 diluted core earnings per share.”