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Simmons First in Ark. sells securities at $604 million net loss

Simmons First National in Pine Bluff, Ark., shed underperforming securities.

The company, which recently raised $327 million by selling common stock, disclosed in a regulatory filing that it sold about $3.2 billion of investment securities to Morgan Stanley at an after-tax loss of about $604 million.

The loss will be recorded in the third quarter.

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