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What's Missing?

Arkansas Business, 2024-02, Vol.41 (6), p.18-18

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Title:
What's Missing?
Author: Moritz, Gwen
Subjects: Banking industry ; Company earnings/profit ; Company sales and earnings ; Government regulation ; Laws, regulations and rules ; Tax assessment ; Taxation
Is Part Of: Arkansas Business, 2024-02, Vol.41 (6), p.18-18
Description: With this in mind, let us compare the headlines on the fourthquarter/year-end earnings reports as issued by Arkansas three big publicly traded banks in the order they were released: * Results of West Texas Headwinds and FDIC Surprise 4th Quarter Assessment Only Things Standing Between [Home BancShares Inc.] and Expected 2023 Goal of $400 Million Plus * Bank OZK Announces Record Fourth Quarter and Full Year 2023 Earnings * Simmons First National Corporation Reports Fourth Quarter 2023 Results I think you see what I mean. Unlike the others, Bank OZK felt no need to blame its results on a $9.9 million special assessment by the Federal Deposit Insurance Corp. Meanwhile, Home BancShares blamed litigation following a Texas acquisition and a $12.9 million special assessment by the FDIC for its failure to meet its earnings goal. Simmons mentioned the assessment ($10.5 million) as well as the necessity of selling some bonds at a loss as factors in fourth-quarter earnings that were more than 70% below the same period in 2022.
Publisher: Little Rock: Journal Publishing, Inc
Language: English
Identifier: ISSN: 1053-6582
Source: ProQuest Central

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