Simmons First National Corp. of Pine Bluff on Thursday reported fourth-quarter net income of $23.9 million, up 90 percent from $12.6 million it reported in the same quarter last year.
Diluted earnings per share rose to 78 cents from 72 cents in the same quarter last year.
For the year, the company reported net income of $74.1 million, up 107 percent from $35.7 million. Diluted earnings per share rose to $2.63 from $2.11 in the previous year.
"We are very proud of our team for achieving record operating results in 2015," George Makris, chairman and CEO, said in a news release. "The hard work by all of our associates, especially those new to Simmons, has established a firm base on which to build. We look forward to continued momentum into 2016."
In a news release, the company reported fourth-quarter "core earnings" of $25.9 million, a record, and up nearly 128 percent from the same quarter last year. Diluted core earnings per share rose to 86 cents, up 34 percent from the same quarter last year.
For the year, core earnings were $89.6 million, up 131 percent from 2014. Diluted core earnings per share were $3.18, up 39 percent from 2014.
Net interest income for the fourth quarter rose 56 percent to $73.8 million. The company attributed the increase to growth in its legacy loan portfolio and earning assets acquired through its acquisitions of Community First and Liberty Bank.
Non-interest income for the quarter was $28.9 million, up $7.4 million from the fourth quarter of 2014.
At the end of the year, Simmons First reported total assets of $7.5 billion, up from $4.6 billion at the end of 2014.