SFNC - Earnings call transcript Q2 2020 | Simmons First National Corporation

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Simmons First National Corporation Second Quarter Earnings Call and webcast [Operator Instructions]. Please be advised that today's conference is being recorded [Operator Instructions]. I would now like to hand the conference over to your speaker today, Steve Massanelli. Thank you. sir. ahead, go Please

Steve Massanelli

Simmons thank name joining I is Officer Officer Chief and earnings serve second call. Administrative at Relations Investor My Steve and National you morning, Corporation. our for quarter as First Good Massanelli, and

information Makris, today Operating Matt Executive Chief Officer; and me and the data this and and earnings for call Garner, the David is the Officer. in Chief Executive provided company's Chief Joining Finance Banking Chairman purpose Officer Chief and company discuss Officer; Fehlman, Accounting by Financial The of Chief release to issued Reddin, to outlook George and our quarterly are and future. Officer; Bob Director this of Accounting the morning, discuss

by We session. Q&A will begin with followed comments prepared

and are the provide from A simmonsbank.com invited listen-only We on session, session. equity to in will investors our call have Investor be on posted transcript research today's remarks other including site the institutional conference in Relations Q&A that All this participate under page. our the Q&A company Web prepared our call, and mode. the of in firm guests analysts

you differ estimates, the statements During plans, actual expectations, future make I due to projections statements that forward-looking factors. materially could remind today's and of forward-looking about results from goals, those outlook. in call, will we our projected variety a

update this contained any company certain Form factors is press forward-looking no our on forward-looking information. issued morning. filings, SEC the section or risk limitation, our annual in revise description to these assumes other contained our Additional information information statements some of factors The earnings and obligation of concerning including without most release or XX-K the of report in recent

we GAAP non-GAAP simmonsbank.com. the press non-GAAP with including to to this the these of of available I now Lastly, X-K our financial George in useful regarding call SEC note to Please exhibit Relations reconciliations will and our current an are believe site will release, information we morning non-GAAP as metrics report on which that to additional contained included disclosures the earnings the Web certain on provide turn is page filed discuss Investor investors. metrics Form Makris. direct metrics our over

George Makris

like commitment to associates to branch, digital call dedication past thanking three during Thanks by our The and needs the who of of to every Steve. our Simmons today's day support for begin gratitude customers. call banking the were here and I'd months. staff, special debt their goes center fill the

communities navigate comments prepared needs community months to We customers will uncertain of and of the the today very times. and be to proud will our their meet demonstration our continue in as coming banking values. brief. team our make help of operational we adjustments these very I'm My

we sale the compared along which quarter posted to million additional early merger-related, were well sold site other information after release net data, rightsizing of a costs, million with financial retirement XXth, much last in and program the Diluted simmonsbank.com million June branch the $X quarter. an branches branches. have $X.XX Colorado presentation as our earnings million net and about XX of per Web were more our In In the in quarter three for at $X.X for gives of company. $X.X we an share on of $XX.X reported press results income release, detail and earnings closed important on same quarter our XXXX, tax we our regarding the on branches. in gain We year. second and second increase Included extensive press as May, quarterly

quarter for earnings per quarter. for diluted core was XXXX, $X.XX share $XX.X company's core of impact second the these were million the of Excluding earnings the the and items,

X.X%. was assets average on return Our

return Our on common average X.X%. equity was

XX.X%. was our equity quarter. on XX.X% And ratio return the tangible was efficiency common second for Our

of XXth, billion. total $XX.X As June were assets

billion was billion. $XX.X loan balance $XX.X and Our deposit our was balance

and close of $XX $XXX loan loan June PPP markets major we our ready at $XXX,XXX. with activity million to a balance million approved in X,XXX modified billion. loans in pipeline serve. average the approximately the was loans the slowdown At new Our loan of $X.X quarter, loans We've XXth, also end signaling totaled an of totaling

X.XX% million of allowance interest the loans margin net net for on total X.XX%. loans accretion June The credit for interest $XXX margin, core losses Our was was or quarter X.X% and excludes which on XXth. our totaled

reserve since increase commitments XXth an was $XX is quarter. during at June non-interest was offset our $X.X partially Total at increase of our primarily the by unfunded in a addition, for and The brokered bearing decrease In million the billion quarter. $XXX last of deposits billion, deposit $XX.X in million funds quarter was end. category,

decreased lending million income, the expense rate was second million. income for for Our Core the core expense second basis, driven expense linked current Non-interest million, the On $XX an non-interest $XX the to and compared year. non-interest mortgage same million to our The expense by quarter non-interest of due for million. quarter the million. $XXX.X $XX was increase increase $XX was is mainly non-interest quarter last approximately environment. quarter $XXX.X a decreased period

capital quarter Our strong very remains at end.

was based capital risk Our ratio XX%. total

our was our X.X% please The view again, equity June one common ratio XX%, ratio information Our site ratio at X%. Web was tier Once leverage XXth. equity simmonsbank.com. common of one additional tangible tier was while on

we our world of are there substantial of I'd The unfortunately, changes will and uncertain or the like be under consensus to unclear the direction as severity of effect. don't the seem be pandemic. that a result duration that in operating close the expect to as a conditions. we reiterate I to is to economy Finally,

the our institutional will turn try line now and to navigate investors. best have team operator them adjust and I'm and of as look to effort done our to can from those date, with over through the forward I we we prepared of to proud analysts As be as we crisis. working changes. our to questions to Simmons this invite will we

Operator

first Instructions] comes the Our Tenner Gary from from line Davidson. of D.A. question [Operator

line is Your open. now

Gary Tenner

Just of in couple first, of questions, terms deferrals.

you'd mentioned I $X.X billion. think

end the your now? aggressive, know been know of I'm the getting know on in you of some the deferral fairly deferrals, as for have end initial of on for extensions of You providing What I are of terms maybe requests just you period terms And for in are of speak. the to wondering those front to guys program seeing that asking, you're and you loans. what so kind you're right thoughts think

George Makris

point. the very we that in take report I'm any that not six on one you put three commitments. category days. We've to regard number did seven month to proven deeper payments close to all, those meant unfunded a happy weeks, know payment drawing One to to how back XX out. process Each We at have the four We interest had us not and make debt process. this place getting on laggards point full know order with and But through states be in one in to early not that immediate on as Modifications loan us on far so original we page. through surprising is or group analysis any play period. rated don't seven. exceed P&I. Let once be they scale. restaurants long may also into to those our modification which of that clarify to of is pandemic me, in the going tells in modifications, that loan tells that changed by service qualify make third to we that very would need first action. have the principal a the we But our the to small in same going to has again, Not back customers terms. of early problem any they on and back Seven lenders the on the line saying have be We from seven. And within of the last sure of offered that some expect appear in customers did for some all may hospitality by loans modification that we're to any keep to the we hotels going don't us

can that have of as So, press say during the are excellent applied the work we're them that period of areas this this as for got hit correctly, time. hardest there loans an stimulus package reading borrowers fluid any trying them another have I with if done will by though, borrowers. PPP for our pandemic. Most and through. our hospitality we to those job I’m damage be actually designed remain in might mitigating And

only XX, to presentation. category. you’ll we that's QX, commitments, commitments. there shouldn't surprise thing in on construction other hadn't look I commitments increased our you that and But unfunded look unfunded and to is anyone loans, our at that our you categories is Page is two continuing chance at And very from construction are funding that's unfunded think had that I'm funding telling in we're categories agri agri pretty one QX and list what declined note all that by sure that a

to have their forced our lines growth draw So, we we on loan shown credit. customers because don't

Gary Tenner

I and a planned get thought it if you the of that that thought the previously? the around the down portfolio year. if of had exit $XXX million missed to I energy million. now I the reductions follow another looks of of I'm end I And I'm $XXX to half up you terms it's just me wondering target year. $XXX back moving correct apologize I into closer about and wrong, mentioning was XXX in to that portfolio, million energy full a down And towards on business? And year, like now looks the of coming are

George Makris

$XXX complete have a energy that's diversified of credits borrower that specific with before have probably borrowers of are portion We And the we our just toward intention several to relationship have for a The relationship that company. particular it million. is we exit. related our energy moving except residual a with those those is individual exit who and

Operator

Thank you.

line KBW. comes of Brady question from Gailey next from Our the

now Your line is open.

Brady Gailey

topic, Maybe shrinkage seen you to the noise some and associated elevated next expect some we've has the of we're quarters still shrinkage, fairly been past? to costly. the like expect one to seen date you year, shrinkage costs see that with on more the look energy do while continued over on at couple the When some energy in we've a you but that

George Makris

bankruptcy tell I we We credit we that when we I that was at loss. a monitor their south is. situation. every a not Well, was exit national was by We hedging issues A any analysis to position have shows that one expect into. what Brady a we an credit managed loan that unfortunate one hope not. energy and bought Simmons. sold have, would The you, It did may

rest more problem But proportionally, that category that the one portfolio an identified for specific other exit is stay put we that the presentation a quarter than good have based looks that we've loan our in reserve there rise to and us that We against. demand are of today. our on continues excellent prices the where to this they have midstream in we assuming and think oil chance schedule

Brady Gailey

the one year, in concentrated And comment is then and be of any all kind so this on, XX later out Simmons closed franchise? that to geography, throughout the or branches spread is that

George Makris

entire It’s spread throughout Simmons the franchise. out

is I I'll think our evaluating you the tell six the closures through branch highest of And not state. in state locations. the physical we're with number

you example. Let an give me

a There's banks acquired two were office XXX,XXX and have XXX banks, about we’ve of we about we that one about very As physical consolidated. facilities. square acquired for corridor miles back locations required of housing building, banks have some impressive we we’ve Those feet hundred have associates. where

we're footprint. taking reductions, footage utilization the at look our in So, we branch also to square that entire of a in the addition have

that we period case. earlier an and year evident think that's So it's this about year, being this talked I the adjustment

a some view a hired we these real us viability of of estate. of locations. in estate the director business job an new not. have of like He We're real has unbiased it or fantastic whether We done giving of

to down we would don't say of that end whether or evaluation be not us. is year, I know, by footprint, So, branches for number the XXX across XXX but is a right constant the that we'll

Brady Gailey

there's the the will book. as know and And of the finally moving I how parts in with look into the lot PPP you on that the margin. reinvestment you of at half then think just with But interest the margin do bond year, back net then upcoming trend? a

Bob Fehlman

but points. tell XX off, biggest X.X, basis in the had Well, this I are you, impact at like everybody would lower about XX, basically liquidity, quarter additional was loans first the cash invested great The they're PPP else. just $X.X obviously, loans We billion yielding X%.

biggest off the in be which and up they are going is do off the to into larger goes go or If forgiven PPP portion like a first be QX, off. Going that front paid loans, quarter obviously it when quite paid we the end, on QX the yield third know impact expected bit. you would a would

changed PPP period. Congress information, rules off forgiveness the it all period the of the when However, and extended that delay it could pay submission and and

go So the quarter next into it fourth into and quarter first could year.

So that lumpiness the will in little say be to going cause definitely would a next But I quarter. lower. some for the probably numbers it's

side, On at look we're know liquidity you the portfolio. reinvesting to the security in continuing that

provide going also first quarter, up they know, portfolio We're you some we to there. that the controlling our government to own like market our knew did. was security and liquidity the built before derisked destiny As in we liquidity of the

able period of a it. over It able really and to good lot when environment working obviously. reinvest this time and we So, that getting get just a we're in re-investing rate just be time rates to are on takes to

Our in the the end portfolio dollars and security to the we're year. that $X to reinvested hopeful have $XXX billion goal million of by

the two drive are those to margin. going So,

transactions. know of in get continued to it on target goes there think whether timing to will level takes some opportunity funding a there that in back up costs, do depend is up and long deposits range. bit know XXX little the You our our We difference. it our you

over last quarters. the really off think will that paid at You still loan of opportunity home But deposits can some time work of the a lot that end on this timing quarter. and quarter see, the pricing there's federal the we did bank have coming we some

I as before, going XXX talked due I it’s the know to, range. pay the you be it liquidity. same that everybody of because a like of to you circumstance, think wild continues because it's if So, going to But normalize just guess it's think if and in for margin, significantly the higher the we've those year, whether at forgiveness available of balance it bumps or off lower our

Operator

Thank you.

comes next Olney of Matt question from from Our the Stephens. line

is Your now line open.

Matt Olney

it on mentioned, between attractive the and if trying last expect the hope a get to trying the to that spreads going how think you more better really securities or shape be question reinvest, want of see I to if up by to opportunistic follow understand that that. the end and million around the Just year. of you Bob, to curve? idea, to plays $X out, you're reinvestments half $XXX reinvested, range just the if the that sensitivity become back billion I I'm to behind of of year, the regardless be

Bob Fehlman

forced. not one. You to our going hit it be opportunistic right We're be on We're reinvestment. first very in going to the

of force we're in. So And if going that's our to goal for, is opportunities what not a little year, a in like to some it the by munis. longer, investing looking We're equivalent that other it there we but get sub we to may markets in end good that of in there We quarter have select the it this take yield was security. is a bonds get we the can't payoffs tax and lot we're corporate we did go such, and selectively, investments debt reinvested.

agencies and term a on but do little we be in basis opportunistic. definitely bit a mostly the the but munies in then there So, shorter

Matt Olney

the this really nice overall cost. down the on cost, a deposit And deposit then bringing bank the quarter job did

If four point the we now were years, I XX about costs those the interest earnings in back basis at or points. are range. think basis XX down five go

remainder year five of or the we're can it zero time the where to four at weigh give Last you for ago. stability outlook color trying was the that I'm that? versus So, for that Any this rate years called against environment. on

Bob Fehlman

Page level we ‘XX it lot George points. the and couple say like said that want nicely. time rates, XX and bearing back Great But rates a presentation before in you drop actually those it really deposits from happened say also his what with I’ll as showed drop took And saw, last on basis re-price the on Well, took to the to longer kind lowest Recession to may you to the of ‘XX to for to of a interest XX re-pricing.

in than closer bottom. of time think the the So, the did Recession get there. Again, to a Again, the bearing still. that we accounts opportunity gotten bit near that's market time it Great in they little has there's there's interest where a re-price, only we years been think portion couple this took so of the I the has deposit of a opportunities to bottom think small

George Makris

say would longer the we some have I And that CD months. through XX commitments acquisitions, opportunity will we term re-price the over to our next We, this. have XX certainly

on of time certainly you see that's higher presentation that Page have the XX rate So, still deposits of today. our our can in that's average an marketplace than anything XXX,

would we see bucket continue decline. So, that to

for to point There's Our but of is transaction heck lot. continued reduction decreased a basis whole rate XX basis points. some a savings there, room XX and not

would I us the months. give time for that to XX opportunity say next repricing best over So, XX deposits the

Matt Olney

fee rebound? I switching to gears as of then because a waivers. to Are better waiving were get of of charges. trying today, These down still you when fees just sequentially, on it And will service idea assume

George Makris

be fee digits reflection look a And just look number those therefore, or money projections was, other a a expenditures, when Moody's it's and hate hang How and just waivers. charges Bob, I us you statement, we hat I revenue. waiving the We that consumer think account but remember And what in specific you stimulus fees than payment. And can't there would It's down. at take our six associated of there's were that more needed to we take any accounts sales at refunds spending going was well that are it would and in make marketplace. up, propped less package with Matt, for there in the otherwise, for stimulus really still retail they're folks our overdraft some that this sure I'm overdraft and were received it. fees made I of any very about customers. to no on

think comments. good spending the don't they sign you couple So, they in that's money aren’t have I economy have. Bob, a might that of

Bob Fehlman

would I XXX,XXX fees service that And period Good time. a commercial comments for to the XXX,XXX in we a on a the of Their too is we customer was there. year. say had collect charges, business shutdown

So during no that because on based number period of fees collected we time, of it's transaction.

that's So one waivers that out fee. just the of to amount we said, significant just as then on George to trying waivers, example. And on had help customers

and some the of bucket, and One did we news show April better that quarter. May were numbers the in our the did the on see numbers good little So, for the a in over year did May month improvement it of we But than bit June. budget prior that of below April. the is June early still was that for

economy believe problem. will up side the It's levels. those other how take levels of it that it take do of long time to probably back just And of back to and in get the the get more on a bit this So, normalized one long-term. quite gets business, And I to to temporary. that's when that's a back everybody's does

Matt Olney

few your remarks to guess back I things earlier. go you mentioned in want And I then George, growth loan a the to commentary.

PPP? does be Simmons? or would I loan outlook this appreciate I And the the to add and year the more flat at you else energy What of on color back for Can contracting down calls contraction. the balances I some exclude loan X%. include that think think half of

George Makris

year, $XXX is of detail. at And remind I'll Matt, portfolio half probably back the and more million has Well, million, going down time. everyone certainly our probably agri it's to play the $XXX

to down about outlook. a loan So But before you $XXX the little bit lack talk growth of or million or year. the pay might $XXX of million probably Matt, end want we’ll the

Matt Reddin

are the of substantial level high offs. second pay where energy, no noted outside pay to CRE. accelerated there's downs At But going saw in in category we quarter, our as for see we we release we're specific a

continue we'll acceleration no think type. is that. see I the But product any to there in of

that's position goes say see As at opportunity as that where is far what we'll now, today project, continue to you dramatically rate with be of of seeing where we're the good an that's growth or But have may in a as close to loan long take can the have down. million opportunities. customers approved we advantage a $XX

just downs think I the in will natural just decline So, and pay just amortization. continued be

Operator

Instructions]. you Thank [Operator

question next the David from line James. Raymond Feaster of comes from Our

open. now is line Your

David Feaster

change the I’m about second do you was see to you know to any forecast I the ratio? basis to half I a only as PPP. do the in to opinion it's point on you bulk in into in when reserve. start more is maybe conversations ratio increase the the But expect your of you weighting wanted pretty or of see kind reserve the year? curious as significant in baseline over, reserve of I there the challenging went operating that the a deterioration just and know remarks. you to surprised March prepared there’s think Obviously, scenarios, reserve scenarios? think a guess build Moody’s would you the environment the the was figures, noted comparing lot X to And economic just given June the the that, how

George Makris

So David, forecast. here’s we weighted Moody’s the how

what But and to we work just national me footprint. to baseline a take we look the scenario. to So, let in projections then we the by take severely that XX% and And XX% the our boil DFAST we saying, methodology them down the specific. not and these have with XX% adverse geographic when scenario, weighting to qualify are to at scenario adverse

you data numbers. on give me here unemployment some Let

Missouri at is X.X%, and the of markets X.X%, is And XXth. what is says, X.X%, they X.X%, Tennessee is are this the QX as is in business. know Moody’s is unemployment X%, end over year. Oklahoma you So, X.X%. Well, Texas the Kansas of we what actually Arkansas XX% June where is here’s in XX% do

All we in a So, looking conservative quite at in that honestly and do our we’re the apply statistics scenarios come then different and qualitative is very business. up Moody’s applied of economy they’re way opinion, the to very number, conservative view categories these fairly on to we we are markets static too. the my and they with based have, factors the

So we add today. XX risk to a We it our that reserve again, we this And our believe is substantially. is conservative portfolio very based the fairly once Moody’s loan forecast of as number month on understand period. X.X% next over the

Assuming we just additional that Moody’s during our based we continue will period, to quarter improve to as ought and four will that Moody’s believes we fine, on forecast. be allowance be

us are becomes offs So specifically more could and that not change you appropriateness and continue impact therefore and then on basis. If the at But our more to have look an have impact. try we they that if accounted charge expect would that severe of then we loan reserve for would those to evaluate an it the growth to provision have elements allowance. take that are a as the we’ll

So, I tell based very that where significant with on analytics. today pretty is you some comfortable we’re would

David Feaster

Or how question paying is down And down. then excess just customers losing I’m like using that maybe then tighten that and and curious, simply to credit are you to much are deals looking how as payoffs the pipeline customer Just debt? irrational? debt much are down heading is passing just growth. I'm this and just and you on originations competitors more the cash or just had obviously strategic But this curious this, into quarter? where loans, third your elevated. how are paying is being just more of on follow up curious pay downs loan are on and that box mentioned Matt,

George Makris

mind you question? would addressing Matt, that

Matt Reddin

It's definitely really the of crews a should three as your work. scenarios. We of combination we all tighten down

in paying in have We And new our are in absolutely COVID to are originations, opportunities quality overlay they underwriting. down faster. are fewer a and we the marketplace, the the also marketplace. highest fewer finally then And then ensure customers there with opportunities have

what You don't box terms a yields our now. faster gun will see with we call would or just looser that lower fit right

really three. it's of a So, combination all

the our more as with until each there's we've close. economic continue you'll think approved in rate the third certainty going quarter far As that to of a conditions. quarter, pipeline decline into some And shown see I

David Feaster

make you then last opportunistic I'd change more be the branch obviously, cost to may question. Have talked about and with remote there digital as pandemic, both of to, been curious me, And working one from rationalization. a this just any George, in there's your But strategy of markets, more in world? new new strategy? maybe Is adoption how consumer changing the strategic and on this your And there curious opportunities increased front grow increased in hires behaviors. or is invest and Just in changing the focus anything saving that? on any, maybe some be new or like and and

George Makris

offerings months in a had take the happened this, expand a a permanent. result going on we where will And those from opportunities changes excellent investments next say them that to continue our of will digital look the to And other I this. believe including enhance our digital have cards, I of in were Well, we XX we based over as have and products and at services to have results to include that be certainly, to our investment have roadmap some we channels. credit we offer.

customers be of So, continue of also to our us I with to consultative even reactive. It's that more therefore, going physical and put the self expect trend require locations. pressure our on instead more will service

going to meet will, and than services. are going the our going tellers. questions So, customers’ be in I you expectations sets of you're products with staff our their to shift think able We're to more a be see regard to particularly universal quite skill branch bankers, who our to customer our with across facing, to spectrum if have

very been lucky. have We

in the We us have that excellent came Dallas, the our Taxes. storied with very recently Eastman. the company for respected business a executives hired and to background I'll is banking One within Kent certainly mention in Kent is Worth market. now. Chairman two well Division Fort Kent new

So our joined Head And us has we’re Kent Wealth as as the extensive has have Crocker here. glad recently Jimmy Group. an attorney. of Jimmy then to experience

recall, this run Clement year. Trust at has month. Tappan Joe the may years of is you this As end who Department retiring retired Philip our years earlier and for

say was So for I of while in And timely Jimmy footprint. great they're hire one coming our board widely we our be opportunities disbursed that is going have for area, would growth us. wealth real on because products, Jimmy's to across very

going positions of Certainly, methods, some those to and work see are So, that's reasonable that that contact, for that's customers not. but a or fairly real company only not new person-to-person we're is a and to it forward. regard But still evaluating good kinds we people we still business consider internally opportunity or With may with well. idea whether our to invaluable. adapt not is our that that work-from-home

So, sure real not I invest We're that really technology for we're to have figure that an standpoint, technology. have through our trying to how digital And yet so out. dividends we investments in us. in opportunity our efficiency do we paid continue still balance think but mentioned a From I that? organization, already but is

and are our that and continue that ratio quarter, second our going very expenses to reduction You of we probably we expect in saw the forward. expense efficiency proud

specific to a welcome didn't if apologize. are But I answer So, I David, question, you follow-up.

Operator

you. Thank

line Our next the Baird. of Garrett from question from Holland comes

Your line is open. now

Garrett Holland

PPNR and do capital a are to with be from you CETX, expect you challenging downturn. your to use environment? CETX that to bit ratio in in position But with how able operating great position and very where to more standpoint be in drive a strong and profitability this growth organic a near-term strong opportunistic albeit It’s that run

George Makris

the to me Well, utilization little want on can then for maybe Bob, some of that about maybe capital bit I outlook you talk touch and a do capital?

Bob Fehlman

capital right is pretty shape like of Garrett, when our impact taking we’re in, you the said PPP loans. in billion good $X especially fact back out the you now,

loaded and you we impact and is be Now uncertainties this in it tangible of and it circumstance the ratios is But advantage but does are can forth. so when just take right our really can due doesn’t equity you where common our kind it. the build the to ready of given negatively of some capital now,

operate, to can do the opportunities. what And then of right build to and pay when for in the the this those is to build dividends do comes, is be process build capital we the that we our So profits we and through we have But levels. opportunity what go to continue he’ll to plan that’s George ready and in continue said here can again continue levels some continue capital whether that's to as past. current at continue

George Makris

and protect stock touched to important to that’s Bob certainly buy this some that very our to we at history, is aren’t that back us on our of I’m all and something certainly now. right intend dividend our we to very and able important investors Yes, cost. disappointed

it’s think I of a heck a buy.

of And a going taking this us we you that quarter expect have opens some that really discussions partners are that of the when time. we but that that. only will advantage can some on insiders month We more up XX we all some good merger for hit. a with buying see some days course this or had window I do when

hands to and survive expect if now, all just opportunities. to that right just have and it’s So we we’re they we we’ll navigate have those M&A again man for every that himself But more like through. discussions on we’ll deck, expect trying some

but position holding company a marketplace. in be as those We our only over capital cash at And for we the half. and themselves as opportunities well, will continue the certainly, year will present ready next not our the to they build

Bob Fehlman

have one other CETX hit think comment with you I on I’d Garrett, right ratio. And because it

an CETX capital your balance that ratios and in the like because are based capital, risk sheet. really most this important the weights total the I risk think two environment

at in to more asset, tend tell doesn’t look we the environment do it. that TCE weight but ratios we risk are you’re those when and the story two an to you and investors, really want As like today

idea So, I pointing to think it’s that out. a good

Operator

Makris remarks. time, for turn further you. closing Thank the this to At showing I call I no George questions. am back like would to over

George Makris

to quarter. joining thanks each again you of Well, this for us

you We’re what’s to clear were in of very our third I you quarter. I could tell results about that very wish proud know and going the we happen

have back and our certainly the on on know work. get our all dealing regard big to big with a uncertainty to impact to some impact economy it’s with ability to that’s all a reopening, associates we’re going You going and that to have schools of

the a and do and have to continue to day. support we’re for W doing what going just great your we’re you appreciate So, best. hope hope

Operator

gentlemen, this Ladies and Thanks concludes today’s for participating. conference call.

may disconnect. now You

Simmons First National (SFNC) 21 Jul 202020 Q2 Earnings call transcript