Simmons Bank is headquartered in Pine Bluff and is the 3rd largest bank in the state of Arkansas. It is also the 91st largest bank in the nation. It was established in 1903 and as of September of 2021, it had grown to 2,720 employees at 208 locations. Simmons Bank has an A+ health rating.
Writing As An Associate, Non-Customer
I have known several people that used Simmons in Jonesboro, Arkansas, and had good experiences. The bank was very good about working with local Arkansas State University students as well as with the university itself. I even used their conference room for local meetings. The people are quite friendly and it seems that this bank's rates and fees are no more or less different than any other regional bank. I would say give them a try.
Banking Local - There's a Reason Not Everyone Does It
My first banking experience ever was with Simmons First Bank. I opened it in high school, because it was where my mom banked and that way she would have access to my accounts if I ever needed help. I ended up using it for about five years, opening both checking and savings accounts. First of all, their online and phone based systems were awful. They were tedious, time consuming, and difficult to get the help you actually needed. At one point I had a breach of my account where someone stole my purse and was using my cards. Within a few hours before I could cancel it, they had spent over $400. Simmons was very difficult to work with in filing a fraud claim, and it took over three months to get the money returned to me. Overall the experience caused me to look elsewhere for a more established and national bank.
Customer Service
The customer service is incompetent starting bank manager all the down to reps answering calls. I left a message requesting a callback, which never happened. They are supposed to mail out annual statements from my individual retirement account, however, failed to do so. When I tried to get electronic access to my account, the bank manager claimed he had a computer problem (yeah, it's a bank in the 21 century). The same manager failed to provide a satisfactory explanation why my statement could not be sent by mail. We've been customers since 2003 and we are done with this bank.
They Are Impossible:
They have acquired numerous other Banks that had terrible service so they wend out of business. Simmons Bank continues to have terrible service. At least one of the former Banks that Simmons Bank now owns decided to have a gimmick about Identity Protection This and Accidental Death That, which I do not believe one word of it. It simply is a scheme to charge a Monthly Service Fee. I got a letter successfully from them where they said they are eliminating all these Gimmicks. They are finally no longer claiming to offer things that I really doubt Ever Even Existed. They continue to charge Monthly Service Fees. Their customer service continues to be discriminating. ... They do not care for my Accent. ... Calling them is unacceptable. Their website November 16, 2021 had numerous "OOPS!" Errors which eventually signed in and first was intercepted by a Terms Of Service. They deny Access To Money in my Checking Account with them unless I agree to surrender every form of Legal Action against them. As for Visiting them, I intend to eventually ... so that I can close my Checking Account. I have various Bank Accounts with a completely different Bank. They are completely out of The Simmons Bank League; Simmons Bank can not compete. This other Bank I have Accounts with has much better service. Customer Service. Web Site, which does not have annoying and very demanding and even unacceptable Terms Of Service. Seriously I recently have a new installations of Microsoft Windows which requires the same "ACCEPT OR NOTHING AT ALL!!" demands. However, Not even Microsoft (!) is that demanding as Simmons Bank. Currently I can access my account. However, these Unacceptable Demands can not be found again until the next time they "Update" them. Sending them to me on paper and without charging me. And finally, I can not even access any Bank Statements unless I have the Mobile App.
Data as of Q3 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3890 |
| Year Established | 1903 |
| Employees | 2720 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.41% |
| Return on Equity - YTD | 10.41% |
| Annual Interest Income | $500.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2021vs Q3 2020 | $23.19B$21.39B |
| Loans | Q3 2021vs Q3 2020 | $10.66B$13.96B |
| Deposits | Q3 2021vs Q3 2020 | $18.30B$16.42B |
| Equity Capital | Q3 2021vs Q3 2020 | $3.14B$3.11B |
| Loan Loss Allowance | Q3 2021vs Q3 2020 | $202.5MM$248.2MM |
| Unbacked Noncurrent Loans | Q3 2021vs Q3 2020 | $46.9MM$152.9MM |
| Real Estate Owned | Q3 2021vs Q3 2020 | $9.1MM$12.6MM |
