Simmons Bank is headquartered in Pine Bluff and is the 3rd largest bank in the state of Arkansas. It is also the 92nd largest bank in the nation. It was established in 1903 and as of March of 2021, it had grown to 2,942 employees at 214 locations. Simmons Bank has an A+ health rating.
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.
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.
I have been banking for over 50 years. Never in my lifetime have i ever encountered such poor customer service attitudes and lack of ability to be helpful as I have with this bank. Our pervious bank merged with Simmons, we held over a balance of 6 figures. Every time i went into the bank i was treated as if i was an inconvenience. I finally stopped going in person, but even the telephone customer service was not much different. We finally moved all our money to a bank that treats us with respect and are helpful. My recommendation to anyone looking for a bank to never ever bank with Simmons. I don't even know how people continue working with and for them. Even my friend who had worked for the previous bank when it merged with Simmons had to leave their job because the management was horrendous and the working conditions sucked for them.
|FDIC Certificate #||3890|
|Return on Assets - YTD||1.31%|
|Return on Equity - YTD||9.61%|
|Annual Interest Income||$169.4MM|
|Assets and Liabilities|
|Assets||Q1 2021vs Q1 2020||$23.29B$20.80B|
|Loans||Q1 2021vs Q1 2020||$12.02B$14.30B|
|Deposits||Q1 2021vs Q1 2020||$18.39B$15.67B|
|Equity Capital||Q1 2021vs Q1 2020||$3.07B$3.08B|
|Loan Loss Allowance||Q1 2021vs Q1 2020||$235.1MM$243.2MM|
|Unbacked Noncurrent Loans||Q1 2021vs Q1 2020||$105.1MM$139.6MM|
|Real Estate Owned||Q1 2021vs Q1 2020||$11.2MM$20.8MM|
Sorry, we do not have rate data for Simmons Bank.