Simmons First National Corp. in Pine Bluff, Ark., said Thursday that earnings in the first quarter rose 8.3% from a year earlier, to a record $5.9 million.
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The $2.4 billion-asset company attributed the healthier bottom line to a 14-basis-point expansion in net interest margin, which boosted interest income 9.8%, to $22.1 million. But interest expenses also rose - by 20%, to $8.5 million.
Simmons First's asset quality improved. The ratio of nonperformers to total loans fell to 0.75%, compared with 1.05% a year earlier.
