Simmons First National Corporation (NASDAQ:SFNC) Q3 2020 Earnings Conference Call - Final Transcript

Oct 19, 2020 • 10:00 am ET


Simmons First National Corporation (NASDAQ:SFNC) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Simmons First National Corporation Third Quarter Earnings Call and Webcast. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Steve Massanelli. Please go ahead.

Stephen C. Massanelli

Good morning and thank you for joining our third quarter earnings call. My name is Steve Massanelli, and I serve as Chief Administrative Officer and Investor Relations Officer at Simmons First National Corporation. Joining me today are George Makris, Chairman and Chief Executive Officer; Bob Fehlman, Chief Financial Officer and Chief Operating Officer; and David Garner, Executive Director of Finance and Accounting and Chief Accounting Accounting Officer.

The purpose of this call is to discuss the information and data provided by the company in our quarterly earnings release issued this morning and to discuss the company's outlook for the future. We will begin with prepared comments, followed by a Q&A session. We have invited institutional investors and analysts from the equity firms that provide research on our company, to participate in the Q&A session. All other guests in this conference call are in listen-only mode. A recording of today's call, including our prepared remarks and the Q&A session will be posted on our website, under the Investor Relations page for at least 60 days.

During today's call, we will make forward-looking statements about our future plans, goals, expectations, estimates, projections and outlook. I remind you that actual results could differ materially from those projected in, or implied by the forward-looking factors statement, due to a variety of factors. Additional information concerning some of these factors is contained in our SEC filings, including, without limitation, the description of certain risk factors contained in our Form 10-K for the year ended December 31 2019, our Form 10-Q for the quarter ended June 30, 2020 and the forward-looking information section of our earnings release issued this morning. The company assumes no obligation to update or revise any forward-looking statements or other information.

Lastly, in this presentation, we will discuss certain non-GAAP financial metrics we believe provide useful information to investors. Please note that additional disclosures regarding non-GAAP metrics, including the reconciliations of these non-GAAP metrics to GAAP, are contained in our earnings press release and third quarter investor presentation, which are included as exhibits to our current report filed this morning with the SEC on Form 8-K and available on the Investor Relations page of our website at

I'll now turn the call over to George Makris.

George A. Makris

Thanks Steve and welcome to our third quarter earnings conference call. We're very proud of our results for the third quarter, especially under these trying conditions. I'd like to begin today's call by thanking the Simmons' associates for their commitment, dedication, and continued demonstration of our community banking values.

In our press release, we reported net income of $65.9 million for the third quarter of 2020, an increase of $7 million compared to the second quarter. Diluted earnings per share were $0.60. Included