An overview of Simmons Bank
Simmons Bank is a publicly-traded subsidiary bank of Simmons First National Corporation and is well known for its financial services in Illinois, Kansas, Texas, Arkansas, Colorado, Missouri, Oklahoma, and Tennessee.
George A. Makris, Jr. is the CEO of the company heading companies 2,654 employees.
In 2019, the Simmons Bank generated a net income of $74million from its total assets of $17.6 billion and total equity of $2.3 billion.
The story behind the origin of Simmons Bank
In 1903, the bank came into existence in Pine Bluff, Arkansas by the contribution of Dr. John Franklin Simmons who was a physician by profession.
The first day of the bank brought $3,338.22 in the deposit which was considered to be a solid opening.
With time the bank showed tremendous growth establishing a renowned status in the state that it was one among the first Arkansas banks to reopen during the Great Depression in 1933.
The Simmons Bank was also the first to offer credit cards in Arkansas in 1967. In 1984, the first intercontinental
transaction was made via bank ATM in Sydney, Australia.
In 2012, the bank acquired the Truman Bank in a transaction organized by the FDIC. The Simmons Bank also acquired Excel Bank followed by acquiring Metropolitan National Bank in 2013.
In 2014, the bank went for the acquisition of Delta Trust & Bank. In the next coming years, they further acquired Liberty Bancshares and Community First Bancshares, Ozark Trust and Investment Corp, Citizens National Bank, First South Bank, Southwest Bancorp, Inc., and First Texas BHC, Inc.
Recently in April 2019 the Simmons Bank got hold over the Reliance Bancshares, Inc. and is now serving in eight states of the United States with over 200 branches.
The Reliance Bank got merged with Simmons as the surviving institution thus further strengthening the market and bringing out additional opportunities for its customers in the important region, which crosses into Illinois.
What does Simmons Bank offer in the financial market?
In the banking services, Simmons Bank offers loans, insurance, checking accounts, credit and debit cards, payment protection, bill pay, phone banking, and merchant services through offices located in eight states.
They offer the right products and services if one is looking to buy a home, car, getting insured, saving for retirement and looking for best plans in merchant services.
Simmons Bank is also a national issuer of credit cards having a track record of success for the past 50-years. They also offer Simmons Rewards cards and credit cards at the lowest-rate products in the industry.
Considering Simmons treasury management products and services they are among top-rated institutions that are active to help businesses of all sizes by maximizing their cash position. They are full-service financial partners for those seeking checking solutions by a local bank.
Is the banking service of Simmons Bank secure?
Yes, the banking and financial services offered by Simmons Bank are secured. The Simmons Bank is one of the leading national banks in the South claiming top honors.
In 2019, the bank got recognized as the best bank for business under the "Best of Biz" category by Arkansas Business.
It has also received the Platinum Elite Lender for SBA business lending by RMI Business in the same year.
Forbes got the Simmons bank on the list of Best-In-State Banks in Arkansas and Tennessee in 2019.
Even the Best Bank title was offered to the bank by Greenfield Vedette and Humboldt Chronicle in the same year.
What sets Simmons Bank apart from other banks?
The Simmons Bank is known for its longstanding legacy in the banking sector.
They work based on their motto, "Dreams: Realized" to fulfill the dreams of communities trusting them.
The bank shows integrity, collaboration, excellence, and growth to achieve the goals of its customers in the financial market. At present, the Simmons Bank operates in over eight states catapulting from a bank holding company with $3.2 billion in assets to $17.8 billion-assets in 2019.
The Simmons Bank is also an FDIC insured institution thus promoting its excellence in the workplace. Their associates are also promised participants in 1,115 community development activities helping predominantly low-to-moderate-income individuals through banking skills.
The news release about bank
On 18th December 2019, the parent organization of the Simmons Bank announced its fourth-quarter earnings release date to be 23rd January 2020.