Simmons First calls 9½% trust preferreds

By Ted A. Knutson

Washington, Nov. 9 - Simmons First National Corp. said Tuesday it will redeem all the 9½% trust preferred securities due June 30, 2027 issued by its Simmons First Capital Trust subsidiary on Dec. 31. The securities have a total face value of $17.25 million.

Investors will receive par of $12.50 per preferred security held, plus accrued and unpaid distributions to the redemption date.

The record date for the final distribution will be Dec. 15, payable on Dec. 31 at $0.285 per security.

Simmons First chairman and chief executive officer J. Thomas May said the redemption will mean $1.3 million in pre-tax savings for the company in 2005, according to an 8-K filing with the Securities and Exchange Commission from the Pine Bluff, Ark.-based bank holding company.

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