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Simmons Bank
Simmons Bank
Simmons Bank
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Simmons Bank is a bank with operations in Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. It is the primary subsidiary of Simmons First National Corporation, a bank holding company.

Key Information

History

[edit]

The bank was founded by physician Dr. John Franklin Simmons in Pine Bluff, Arkansas in 1903. In 1933, during the Great Depression, it was one of the first Arkansas banks to reopen after the federally imposed “bank holiday”. In 1967, the bank was the first in Arkansas to offer a credit card. On March 23, 1984, a customer (Mary Stone) withdrew $285 from an automated teller machine in Sydney, Australia in the first intercontinental transaction made ever via an ATM.

In September 2012, in a transaction organized by the FDIC, the company acquired Truman Bank, which suffered from bank failure.[3][4]

Simmons Bank in Sweetwater, Tennessee

In October 2012, the company acquired Excel Bank. In November 2013, the company acquired Metropolitan National Bank.[5] The purchase included the Simmons Tower. In August 2014, the company acquired Delta Trust & Bank. In February 2015, the company acquired Liberty Bancshares and Community First Bancshares.[6] In November 2015, the company acquired Ozark Trust and Investment Corp.[7] In September 2016, the company acquired Citizens National Bank. In May 2017, the company acquired First South Bank.[8] In October 2017, the company acquired Southwest Bancorp, Inc. and First Texas BHC, Inc.[9] In April 2019, the company acquired Reliance Bancshares, Inc.[10]

In July 2019, the company acquired Landmark Bank, Inc., a subsidiary of Landrum, the parent company, headquartered in Columbia, Missouri, for an estimated $434 million. The merger was finalized and marketing changes took place on February 18, 2020. [11] In November 2021, the company purchased Spirit of Texas Bancshares, with the acquisition completed and locations converted in April 2022.[12]

References

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Simmons Bank

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from Grokipedia
Simmons Bank is a regional headquartered in , founded in 1903 as a with initial deposits of $3,338.22, and it serves as the primary banking subsidiary of Simmons First National Corporation (: SFNC). As of September 30, 2025, the bank manages approximately $24.2 billion in total assets and operates 234 branches across six states: , , , , , and , focusing on community-oriented banking with a client-centric approach. It provides a wide range of services, including personal and business checking accounts, loans, mortgages, overseeing approximately $8.5 billion in assets as of 2024, , credit cards, and trust services dating back to 1922. Under the leadership of Chairman and CEO George A. Makris, Jr. (with Jay Brogdon succeeding as CEO effective January 1, 2026), Simmons has demonstrated sustained growth, achieving 116 consecutive years of cash dividends to shareholders and expanding through strategic acquisitions since becoming part of SFNC in 1992. The institution has earned recent accolades for its performance and workplace culture, including recognition by as one of America's Best Regional Banks for 2025, by as one of the Best Companies to Work For in the South for 2024-2025, and by as a Best-In-State Bank in and Best-In-State Employer in for 2024.

History

Founding and early years

Simmons Bank was founded on March 23, 1903, in , by physician Dr. John Franklin Simmons, who served as its first president. The institution opened as The Simmons National Bank of Pine Bluff, a federally chartered bank, with just four employees and first-day deposits totaling $3,338.22. From its inception, the bank targeted the needs of the local agricultural community in southeast , providing essential financial services such as deposits and loans to farmers and owners in a rural economy dominated by and production. This community-oriented approach emphasized personal relationships and support for regional economic stability, helping the bank weather early challenges including the Panic of 1907. During the early decades, Simmons Bank expanded its offerings while maintaining its roots in local service. In 1922, it established a Trust Department on June 5, becoming one of the few banks to provide such fiduciary services at the time. The tested the institution, but it was among the first in the state to reopen without restrictions following the 1933 national bank holiday, bolstering depositor confidence and enabling continued lending to agricultural clients. By the mid-20th century, the bank had grown organically within , adding a personal loan department in 1937 to further assist small businesses and families. A significant evolution occurred in 1960 when the name changed to Simmons First National Bank, reflecting its strengthened national charter status and commitment to comprehensive banking under federal oversight. This period marked steady development, with innovations like being the first bank to offer Visa cards in 1967, though the core focus remained on community involvement and agricultural lending. In 1985, the establishment of Simmons First National Corporation as a laid the groundwork for future structured growth, allowing the bank to formalize its operations while preserving its emphasis on serving farmers, small enterprises, and local communities across .

Growth and acquisitions

Simmons First National Corporation (SFNC), the for Simmons Bank, was formed in 1985 to oversee the bank's expansion efforts. In , SFNC's began trading on the exchange, marking a significant step in accessing broader capital markets for growth initiatives. The bank's inorganic growth accelerated in the through a series of strategic acquisitions, many facilitated by regulatory approvals amid the post-2008 recovery. In 2010, SFNC acquired Southwest Community Bank in and Security Savings Bank in via FDIC-assisted transactions, enabling initial entry into those states and adding substantial deposit bases to bolster regional presence. These deals exemplified the bank's opportunistic approach to acquiring distressed assets under FDIC oversight, with total assets assumed from the failed institutions exceeding $500 million combined. Subsequent acquisitions focused on consolidating within Arkansas while expanding footprints. In 2012, the acquisition of Excel Bank in Missouri integrated additional branches and loan portfolios, enhancing local market share. The 2013 purchase of Metropolitan National Bank in , valued at $53.6 million, increased Simmons Bank's assets by approximately 50% at the time but also included the iconic in , serving as a new and symbol of growth. In 2014, SFNC acquired Delta Trust & Bank in for $66 million, further strengthening capabilities. Expansion into adjacent markets continued with Missouri-focused deals in 2015, including Liberty Bank and Ozark Trust & Investment Corp., which added over $1 billion in assets and diversified trust services. The 2017 acquisition of First Texas Bank marked Simmons Bank's entry into , bringing specialized lending expertise and 16 branches. In 2019, the approximately $172 million acquisition of Reliance Bank in expanded operations in the area, incorporating advanced platforms. In 2021, SFNC acquired Landmark Community Bank in , and Triumph Bancshares in , in a combined transaction valued at $278 million, adding branches and enhancing presence in . By 2022, SFNC completed another major acquisition with Spirit of Texas Bancshares for $581 million, significantly enhancing operations with over $3.7 billion in assets and 35 branches, solidifying a foothold in a high-growth market. These acquisitions, approved by regulators including the and FDIC, transformed Simmons Bank from a regional player into a multi-state operating in six states overall. The cumulative impact of these acquisitions drove remarkable asset growth, from under $1 billion in to more than $24 billion as of , 2025, reflecting scaled operations and diversified revenue streams across five additional states beyond . This expansion emphasized strategic while maintaining , particularly through FDIC-assisted opportunities that minimized risk in volatile economic periods.

Operations

Services

Simmons Bank provides a range of personal banking services designed to meet everyday financial needs with an emphasis on accessibility and low costs. Its checking account offerings include the Coin Checking™ account, which features no minimum balance requirement and no monthly service charge, making it suitable for customers seeking fee-free basic banking. Savings options encompass the Simply Savings account with no fees or withdrawal limits but a $100 daily balance to avoid charges, alongside money market accounts like the Elevate Money Market that earn interest on the entire daily balance without fees. For credit building, the bank offers the Simmons Foundation VISA® Credit Card, a secured option backed by a Foundation Secured Savings Account with credit limits ranging from $300 to $5,000. Home lending services include mortgages for primary residences, refinancing options, and financing for investment or vacation properties, all supported by competitive rates and personalized guidance subject to credit approval. In business banking, Simmons Bank caters to small and mid-sized enterprises through commercial lending programs that provide flexible terms and competitive rates to support growth initiatives. Deposit solutions are tailored for , including business checking accounts with waivable service fees and customizable digital tools, as well as savings products such as certificates of deposit and accounts for liquidity management. services facilitate payables and receivables processing, while offer advanced features like protection, information reporting, and merchant payment solutions through partnerships such as ® for contactless transactions and next-day funding. Business credit cards with no annual fees and rewards programs further enhance and expense tracking. The bank's division, operated through Simmons Investment Services in partnership with , delivers comprehensive advisory services focused on long-term financial security. Investment advisory helps clients build and manage portfolios aligned with personal goals, while includes customized strategies to accumulate and preserve assets for post-employment life. For funding, 529 college savings plans are available to support future tuition costs, and wealth preservation tactics emphasize diversified investments to mitigate risks. Trust services assist in and legacy building, ensuring assets are protected and transferred according to client directives. All products are FDIC-insured where applicable, with an emphasis on community-oriented, competitive-rate solutions. Additional offerings include robust online and platforms, providing debit and access via more than 32,000 MoneyPass network locations nationwide. Customers can perform transfers using Zelle®, manage bill payments, and receive fraud alerts through card control features that allow locking/unlocking cards and setting transaction limits. partnerships, facilitated by Simmons First Insurance Services, Inc., extend to personal asset protection and business coverage options like group health and . Digital innovations, such as the enhanced for seamless transfers, bill pay, and alerts, were introduced in the late to improve user security and convenience.

Locations

Simmons Bank's headquarters is located at 501 Main Street in , where the institution was founded in 1903. The bank also maintains significant corporate offices, including the at 425 West Capitol Avenue in downtown , which serves as a key operational hub. As of September 30, 2025, Simmons Bank operates 234 branches across six states: , , , , , and , with serving as the primary market and home to the majority of its locations. The bank's presence in began through the 2010 acquisition of Security Savings Bank, and in through acquisitions starting in 2010, including Southwest Community Bank. Expansion into occurred via key deals in 2017, including the acquisitions of Southwest Bancorp and First Texas BHC, and in 2022 with Spirit of Texas Bancshares, adding substantial branches in that state. entry occurred in 2017 via the acquisition of Bank SNB, while expansions included acquisitions in 2015 (Community First Bancshares), 2016 (Citizens National Bank), and 2021 (Landmark Community Bank and Triumph Bancshares). The branch network emphasizes both rural and urban areas, particularly supporting agricultural communities in the and energy sectors in and through specialized lending and services. Customers benefit from a nationwide ATM network via partnerships like MoneyPass, providing surcharge-free access at more than 32,000 locations across the , alongside robust options for broader accessibility. From its origins as a single-location in 1903, Simmons Bank has grown into a multi-state regional player by 2025, with all operations confined to the domestic and no international presence.

Corporate structure

Parent company and governance

Simmons Bank operates as the primary banking subsidiary of Simmons First National Corporation (SFNC), a financial organized under Arkansas law in 1968 and registered under the of 1956. SFNC, headquartered in , oversees the strategic direction and operations of its subsidiaries, with Simmons Bank serving as the core entity providing retail and commercial banking services across multiple states. The 's structure allows for centralized management while maintaining localized decision-making in line with its community banking philosophy, as outlined in its operational framework. SFNC has been publicly traded on the Global Select Market under the SFNC since 1992, enabling broad shareholder participation without a single majority owner. Ownership is distributed among institutional investors, who hold approximately 79% of shares as of November 2025, alongside retail investors and insiders, reflecting a diversified equity base that supports long-term stability. This public structure aligns with SFNC's corporate charter, which emphasizes a commitment to community-oriented banking, prioritizing local relationships and in its Mid-South footprint. Governance at SFNC is led by a responsible for overseeing the and its subsidiaries, including policy-setting, , and compliance enforcement. The board operates through committees such as audit, compensation, and risk, ensuring alignment with fiduciary duties and strategic goals. As a state-chartered institution and member of the System, Simmons Bank is subject to primary oversight by the Federal Reserve Board, with deposit insurance provided by the (FDIC), and additional supervision from the Arkansas State Bank Department. In addition to Simmons Bank, SFNC maintains other subsidiaries and affiliates focused on complementary financial services, such as Simmons First Insurance Services, Inc., and Simmons First Insurance Services of TN, LLC, which provide insurance brokerage and related products as wholly owned entities under the bank. These affiliates support SFNC's integrated approach to and trust services, enhancing the holding company's ability to offer diversified solutions while adhering to regulatory standards.

Leadership

As of late 2025, Simmons Bank's leadership is led by Chairman and Chief Executive Officer George A. Makris Jr., who served in the role from January 2014 to 2022 and again since January 2025, following his election to the board in 1997. Under his tenure, the bank has pursued a strategy of strategic growth, including 13 acquisitions that expanded its footprint and increased total assets to over $27 billion by 2024. Makris, who previously served as president of a family-owned distribution company for nearly three decades, has emphasized a leadership philosophy rooted in integrity, community engagement, and high performance, aligning with the bank's culture cornerstones of doing what's right, striving for excellence, and building loyalty through local decision-making. This approach has fostered ethical practices and a commitment to serving customers and communities across multiple states. Makris announced his retirement at the end of 2025, marking the end of his 12-year leadership period that transformed Simmons Bank into a regional powerhouse. Succeeding him as CEO effective January 1, 2026, is Jay Brogdon, the current president, who joined Simmons First National Corporation in 2021 as chief financial officer after over 13 years at Stephens Inc. in investment banking and four years at Deloitte. At age 45, Brogdon was promoted to president in January 2023, where he oversees revenue lines, finance, operations, information technology, and corporate strategy, bringing a focus on infrastructure investment and customer efficiency to the role. The executive team supporting this transition includes several key figures with deep expertise in banking operations. Daniel Hobbs serves as chief financial officer, managing financial strategy and reporting. Chris Van Steenberg, appointed executive vice president and chief operating officer in November 2024, oversees day-to-day operations with prior experience in community banking leadership. Jena Compton is executive vice president and chief people officer, guiding human resources and talent development. David W. Garner acts as executive vice president and chief accounting officer, handling accounting and investment relations. Tina Groves, with over 28 years of experience, is executive vice president and chief risk officer, also managing mergers and acquisitions. The , which provides oversight, features members with strong backgrounds in banking and . Marty D. Casteel, a 30-year veteran of Simmons who served as chairman, president, and CEO from 2013 to 2020, will assume the role of executive chairman in 2026 following Makris's retirement. Casteel's experience includes leadership in mortgage banking and community roles, such as past presidency of the Mortgage Bankers Association of and board service with the Economic Development Alliance of Jefferson County. Other directors bring complementary expertise from finance, law, and local , ensuring a focus on sustainable, community-oriented growth.

Financial overview

Assets and performance

As of the third quarter of 2025, Simmons First National Corporation, the parent company of Simmons Bank, reported total assets of $24.2 billion. This represents a decline from $26.7 billion in total assets as of June 30, 2025, primarily due to a repositioning involving securities sales that resulted in a one-time net loss. The bank's deposit base stood at $21.8 billion at the end of Q3 2025, supporting liquidity and funding for lending activities. Total loans reached $17.2 billion during the same period, with the portfolio dominated by commercial and loans as key components. for Q3 2025 reflected a GAAP net loss of $562.8 million due to the securities repositioning, though adjusted was $64.9 million, reflecting underlying operational improvements. Performance indicators highlight financial health amid the one-time event, with a (ROE) for 2024 averaging approximately 8-10% based on quarterly trends prior to Q3; the trailing twelve-month ROE as of Q3 2025 is negative due to the loss. Credit quality remains strong, evidenced by a non-performing loans ratio of 0.92% at the end of Q2 2025 (Q3 data pending full disclosure). Capital ratios exceed regulatory requirements, including a Tier 1 risk-based capital ratio of 11.54% at quarter-end. Revenue is primarily derived from , which accounted for approximately 80% of in Q2 2025, supplemented by fees from and other banking services. for Q3 2025 totaled $186.7 million, contributing to overall of $232.5 million.

Recent milestones

The bank advanced its strategic priorities in 2024 through key digital enhancements, including the appointment of a to oversee banking strategy and via digital channels. In May 2025, Simmons Bank hired David Kennedy as executive vice president and to further bolster infrastructure and cybersecurity measures. Complementing these efforts, the bank committed approximately $63.7 million in Investments under the in 2023, followed by $7.4 million in 2024, supporting , , and community services across its footprint. Early 2025 marked positive financial momentum, with Simmons First National Corporation reporting of $32.4 million for the first quarter and $54.8 million for the second quarter, driven by improvements in and margin expansion. In the third quarter, the company reported a GAAP net loss of $562.8 million primarily from a strategic securities portfolio repositioning to improve future net interest margins, with adjusted of $64.9 million. In 2025, the company announced a leadership transition, with Chairman and CEO George Makris Jr. retiring at year-end after a decade of guiding significant growth; President Jay Brogdon will assume the CEO role effective January 1, 2026, while Marty Casteel returns as Chairman. This period also saw continued emphasis on , including the promotion of Allan Ivie to regional president for Missouri-Kansas markets to strengthen service delivery amid post-recession economic stabilization. Simmons Bank navigated the 2023 interest rate environment effectively, with average loans increasing 9% and deposits rising 3% year-over-year in the third quarter, maintaining robust through disciplined deposit management and loan yield adjustments. On the philanthropy front, the Simmons First Foundation has awarded targeted grants for youth development and community projects since 2020, including $100,000 to in 2022 for conservation efforts and $15,000 to the Martin Public Library in 2023 for children's programming, contributing to broader community revitalization initiatives.

References

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  2. https://ir.simmonsbank.com/
  3. https://www.prnewswire.com/news-releases/simmons-first-national-corporation-reports-third-quarter-2025-results-302586717.html
  4. https://ir.simmonsbank.com/download/SFNC%2B2024%2BCompany%2BReport.pdf
  5. https://ir.simmonsbank.com/2025-08-04-Simmons-First-National-Corporation-Announces-CEO-Retirement-and-Leadership-Transition
  6. https://encyclopediaofarkansas.net/entries/simmons-first-national-bank-4426/
  7. https://banks.data.fdic.gov/bankfind-suite/bankfind/details/3890
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  9. https://www.macrotrends.net/stocks/charts/SFNC/simmons-first-national/stock-price-history
  10. https://banks.data.fdic.gov/bankfind-suite/bankfind/details/3890?bankfindLevelThreeView=History
  11. https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/swcmntymo.html
  12. https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/securitysavingsfsb.html
  13. https://ir.simmonsbank.com/press-releases?category=4
  14. https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/excelbank.html
  15. https://www.globenewswire.com/news-release/2013/11/25/592378/10059493/en/Simmons-First-Completes-Acquisition-of-Metropolitan-National-Bank.html
  16. https://www.federalreserve.gov/newsevents/pressreleases/files/orders20150212a1.pdf
  17. https://ir.simmonsbank.com/Simmons-First-National-Corporation-Completes-Acquisitions-of-Southwest-Bancorp%2C-Inc.
  18. https://mergr.com/company/simmons-bank/ma
  19. https://ir.simmonsbank.com/Simmons-First-National-Corporation-Completes-Acquisitions-of-Southwest-Bancorp%2C-Inc-and-First-Texas-BHC%2C-Inc-October-19%2C-2017
  20. https://ir.simmonsbank.com/Simmons-First-National-Corporation-Completes-Merger-of-Reliance-Bancshares%2C-Inc-April-15%2C-2019
  21. https://ir.simmonsbank.com/Simmons-First-National-Corporation-Completes-Acquisitions-and-Conversions-of-Landmark-Community-Bank-and-Triumph-Bancshares%2C-Inc-October-12%2C-2021
  22. https://ir.simmonsbank.com/Simmons-First-National-Corporation-Completes-Acquisition-and-Conversion-of-Spirit-of-Texas-Bancshares%2C-Inc-April-11%2C-2022
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  26. https://www.simmonsbank.com/personal/investment-services
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  28. https://www.simmonsbank.com/personal/digital-banking
  29. https://www.simmonsbank.com/business/insurance
  30. https://newsroom.simmonsbank.com/Simmons-Bank-Launches-New-Mobile-App-October-16%2C-2019
  31. https://www.simmonsbank.com/locations/little-rock-downtown-tower
  32. https://newsroom.simmonsbank.com/Simmons-First-National-Corporation-Completes-Acquisitions-of-Southwest-Bancorp%2C-Inc-and-First-Texas-BHC%2C-Inc-October-19%2C-2017
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  38. https://www.nasdaq.com/market-activity/stocks/sfnc/institutional-holdings
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  42. https://www.sec.gov/Archives/edgar/data/90498/000117184317001225/f10k_022817p.htm
  43. https://ir.simmonsbank.com/george-a-makris-jr?pagetemplate=popup
  44. https://armoneyandpolitics.com/arkansas-visionary-george-makris/
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  50. https://ir.simmonsbank.com/Tina-Groves
  51. https://ir.simmonsbank.com/marty-d-casteel?pagetemplate=popup
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  60. https://ir.simmonsbank.com/2025-05-20-Simmons-Bank-hires-David-Kennedy-as-Chief-Technology-Officer
  61. https://ir.simmonsbank.com/index.php?s=178
  62. https://newsroom.simmonsbank.com/2025-04-16-Simmons-First-National-Corporation-Reports-First-Quarter-2025-Results
  63. https://ir.simmonsbank.com/press-releases?category=6&l=50
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  65. https://ir.simmonsbank.com/press-releases?category=8
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