Simmons First National Corp. of Pine Bluff on Wednesday reported third-quarter net income of $23.4 million, up 8 percent from the same quarter last year.
The company also reported diluted earnings per share of 76 cents, up from 72 cents in the same quarter last year.
The company noted that third-quarter 2016 results included $953,000 of after-tax expenses related to noncore items. Excluding those expenses, "core earnings" were $24.4 million and diluted core earnings per share were 79 cents.
In a news release, CEO George Makris Jr. said the company completed its latest bank acquisition — Citizens National Bank of Athens, Tennessee — during the quarter. A systems conversion tied to the deal takes place Thursday.
"We welcome our newest associates from Citizens National Bank into the Simmons family," Makris said in a news release. "We look forward to continued growth in our east Tennessee markets."
Makris pointed out the company's quarterly efficiency ratio of 53.8 percent, return on assets of 1.21 percent, return on equity of 8.4 percent, and return on tangible common equity of 13.3 percent.
Total loans stood at were $5.4 billion as of Sept. 30, up 11 percent from the same time last year. Total deposits were $6.6 billion, up about 9 percent from the same time last year.
Quarterly net interest income was $68.1 million, down 13 percent from the same time last year. Non-interest income was $36.9 million, up about $14 million from the same time last year.