Simmons Bank is headquartered in Pine Bluff and is the 3rd largest bank in the state of Arkansas. It is also the 95th largest bank in the nation. It was established in 1903 and as of December of 2019, it had grown to 2,686 employees at 220 locations. Simmons Bank has an A+ health rating.
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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.
Over Six Months With No Access To My Money
i use this bank for royalty deposits.once they closed my account for returned mail,after changing address it takes two months to open my account.debit card stopped working,even with new pin will not work.one time my account is called dormant even that one month before i got a deposit and also done a paypal transfer,many times can not log into account,it reads unable to verify identity.the bank refuses to wire my money to me,this is a very sick bank.
Disaster Bank Will Ruin You
Simmons Bank is TERRIBLE.
They took over Bank SNB a few months ago and it has been nothing but a circus since the switch. Mobile banking is not at all accurate and has been a cause for more than one overdraft on my account.
I can't keep track of anything with this account, a purchase posting will not be at all predictable or timely. It can post to the account the same day, next day or a week later. I'm talking about debit card purchases, that's just insane.
Oh and now, it seems I'm stuck with Simmons for some time. I can't open an account at another bank because of the overdraft fees Simmons caused when they took over my old bank. Now that's flagged as bad account management on me and I can't open another checking account.
Thanks for nothing Simmons.
Customer service is terrible too. My debit card got lost in the mail and they wouldn't cancel it or replace it until I called back a third time.
They continually flag my anti-virus payment as fraud and lock up my card. Every month like clockwork. But when I did have an actual fraudulent charge they insisted it was fraud and wouldn't do anything about it at first. It took several calls and going up their customer services chain to get anything done about it. I think the only reason they did anything was that I had also contacted the BBB regarding the fraud.
If Simmons becomes your bank, then run, right away.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3890 |
| Year Established | 1903 |
| Employees | 2686 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.51% |
| Return on Equity - YTD | 9.9% |
| Annual Interest Income | $760.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $17.66B$16.52B |
| Loans | Q4 2019vs Q4 2018 | $12.68B$11.69B |
| Deposits | Q4 2019vs Q4 2018 | $13.13B$12.62B |
| Equity Capital | Q4 2019vs Q4 2018 | $2.82B$2.36B |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $67.4MM$56.7MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $74.6MM$62.8MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $18.9MM$25.6MM |
