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Social Responsibility

Defining Our Culture
 

image of culture cornerstones high performance better together integrity passion pursue growth build loyalty

Building a vibrant culture and living in accordance with our values directly translates to customer service excellence and loyalty and will fulfill our vision of making Simmons a great place to work.

At Simmons, we are committed to our Culture Cornerstones. All six core Culture Cornerstones are reflected in what we do – including how we interact with each other, how we interact with our customers and how we interact with our vendors and business partners.

  • Build Loyalty: We build loyalty by exceeding expectations as we serve. Protect. Connect. Commit. Succeed.
  • Better Together: Embrace collaboration. Make time to help your colleagues and lift up those around you. Win together — celebrate together.
  • Integrity: Do what’s right and be true to yourself. Value honor, act with responsibility and respect those around you. Your word is your bond.
  • Passion: Care intensely about your work, customers and community. Always look to innovate, improve and dream big. 
  • High Performance: Strive to exceed expectations. Go beyond what you think is possible. Reach for excellence.
  • Pursue Growth: Explore your path and seek opportunities. Aim to learn and expand your skills every single day. Explore growth — personally and professionally.

quote from Chief People Person Jena Compton. With our sights set on creating a service framework to continue to provide an excellent experience for our customers, our business vendors and our teams, Build Loyalty means that with every interaction, internally and externally, we pledge to protect, connect, commit and succeed. Our High Performance cornerstone has never been stronger or more evident in our workplace than it is today.

Simmons Service Month

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Simmons regards social and civic responsibility as an important part of what we do. It guides not only our business policies and practices, but also our company culture and community outreach. Across our philanthropic footprint, our focus is on economic development, financial literacy, youth development, health and human services, arts and culture, and a better quality of life for everyone in our communities.


Each September associates across the bank's footprint participate in Simmons Service Month, a company-wide initiative to encourage volunteerism. Simmons provides associates paid time off in September to volunteer, which in 2023 resulted in more than 5,500 volunteer hours. Simmons associates who donated 15 or more volunteer hours during Simmons Service Month also received $150 for charities of their choice. In 2023, these top volunteers raised a combined $8,700 for charities across Simmons' footprint.

To learn more about our Community Involvement and the mission of the Simmons First Foundation, click here. 

Simmons Associates by the Numbers as of December 31, 2023: 

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Socially Responsive Products 

Through the Simmons Bank automatic savings program, Round-Up, customers saved nearly $5.5 million during 2023. More than 26,400 customers utilized the program during this period. Compared to the same timeframe in 2022, dollars saved increased by nearly 6 percent.

Community Reinvestment 

Simmons Bank’s Community Reinvestment Act (CRA) efforts focus on affordable housing, economic development, revitalization and community service – each with a goal of providing greater access to financial products and services to low-to-moderate-income families.

  • In 2023, Simmons Bank originated approximately 3,525 in single-family Home Mortgage Disclosure Act (HMDA) loans totaling approximately $742,865,000.
  • Simmons Bank provided more than 26 multi-family HMDA loans which totaled approximately $36,547,000 in 2023.
  • Combined, Simmons Bank provided approximately $779,412,000 in HMDA reportable loans in 2023.
    • Simmons Bank originated more than 728 loans within low-to-moderate-income areas, or 20.65 percent of total originations.
      Simmons Bank originated nearly 668 loans within majority-minority geographies or 18.81 percent of total originations.

quote from Sharmane Andrews CRCM, SVP Regulatory and Consumer Affairs

  • Simmons and Simmons First Foundation provided approximately $2,181,807 in eligible charitable and in-kind donations, and foundation grants in 2023, including 18 community enhancement grants ($125,000) and 38 make a difference grants ($524,857) from the foundation to organizations that offer work readiness programs, affordable housing and community services. Additionally, Simmons donated three branches for community needs.
  • Through the Federal Home Loan Bank of Dallas, the bank secured for our non-profit community partners $1,466,400 in Federal Home Loan Bank contributions in 2023 for: downpayment assistance, home rehabilitation, construction of affordable housing, operating grants and FortifiedTM roof repairs. Simmons Bank provided approximately $63,735,550 in Community Development Investments under the Community Reinvestment Act in 2023.
  • Approximately $357,036,730 in qualified community development loans furthered economic development, affordable housing and stabilization of communities in 2023.
  • Approximately 2,927 loans benefited businesses with less than $1 million in revenue totaling approximately $354,614,000 in 2023.
  • Approximately 1,269 loans benefiting small farms with less than $1 million in revenue totaling approximately $114,442,000 in 2023.

Commitment to the Community

  • Simmons’ associates performed approximately 2,696 community development service activities, including offering financial education to adults and children and extending technical services in 2023.
  • Simmons’ reach spanned across 513 nonprofit organizations. 

Product Spotlights

Simmons Bank offers a variety of products to help ensure that our customers are served well.

Our Bank On-certified Affordable Advantage Checking Product:

Bank On National Account Standards logo

  • More than 552 account holders in 2023
  • Includes safeguards against overdraft

The Individual Taxpayer Identification Number (ITIN) Mortgage Product was introduced:

  • An ITIN Advantage Mortgage is a loan designed for homebuyers who do not have a Social Security number
  • In 2023, Simmons Bank Funded approximately $19,851,384 (101 loans) of ITIN Advantage Mortgages 

Strong production continued with the 100% Advantage Mortgage Product:

  • In 2023, Simmons Bank funded approximately $29,727,874 (167 loans) of 100% Advantage Mortgages

 

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Simmons Bank worked with more than 11 down-payment-assistance programs across our footprint to lessen the burden of cost of homeownership.

The launch of the Foundation Secured Credit Card in 2021 provided customers the opportunity to open a secured credit card that is designed to help them establish, strengthen or rebuild their credit: 

  • More than 1,600 accounts were opened in 2023