Simmons First National Corporation Reports Second Quarter Results

Rhea-AI Summary

Simmons First National (NASDAQ: SFNC) reported 2Q26 net income of $66.7 million (diluted EPS $0.46), down slightly from 1Q26’s $68.5 million ($0.47), and up from 2Q25’s $54.8 million ($0.43). Adjusted net income was $72.2 million, with adjusted diluted EPS of $0.50.

Total revenue was $248.6 million, PPNR $100.8 million, and adjusted PPNR $108.2 million. Net interest income rose to $200.6 million, with net interest margin (FTE) steady at 3.84%, up 78 bps year over year. Noninterest income reached $47.9 million.

Total loans grew to $18.1 billion, while deposits declined to $19.7 billion. The NCO ratio was 0.20%, and the allowance for credit losses to loans was 1.32%. The efficiency ratio was 58.72% (adjusted 54.26%). Simmons repurchased 0.7 million shares during the quarter and declared a cash dividend of $0.215 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Total revenue $248.6M vs. $241.4M in 1Q26 and $214.2M in 2Q25
• Adjusted diluted EPS $0.50 vs. $0.47 in 1Q26 and $0.44 in 2Q25
• Net interest income $200.6M, up $3.5M linked quarter and $28.8M year over year
• Net interest margin (FTE) 3.84%, flat QoQ and up 78 bps vs. 2Q25
• Total loans $18.1B, +3% annualized QoQ and +6% year over year
• NCO ratio 0.20% vs. 0.25% in 2Q25; ACL to loans increased to 1.32%
• Share repurchases 0.7M shares completed during 2Q26

Negative

• Net income $66.7M, down from $68.5M in 1Q26
• Total deposits $19.7B vs. $20.2B in 1Q26 and $21.8B in 2Q25
• Provision for credit losses $17.4M vs. $14.6M in 1Q26 and $11.9M in 2Q25
• Noninterest expense $147.7M vs. $140.7M in 1Q26 and $138.6M in 2Q25
• Other borrowings $941.3M vs. $446.8M in 1Q26 and $634.3M in 2Q25
• Reported efficiency ratio 58.72% vs. 57.56% in 1Q26

Market Context

Viewed alongside platform data showing a low short-interest signal and an average one-day earnings m...

Analysis

Viewed alongside platform data showing a low short-interest signal and an average one-day earnings move near 2.7, a flat reaction would suggest investors largely expected these numbers. The key watchpoints remain asset quality trends and how consistently SFNC sustains its recent margin and efficiency improvements.

Key Figures

Net income: $66.7M Diluted EPS: $0.46 Adjusted net income: $72.2M +5 more

8 metrics

Net income $66.7M 2Q26 reported net income

Diluted EPS $0.46 2Q26 reported EPS vs $0.47 in 1Q26

Adjusted net income $72.2M 2Q26 adjusted earnings vs $68.6M in 1Q26

Adjusted diluted EPS $0.50 2Q26 adjusted EPS vs $0.47 in 1Q26

Total revenue $248.6M 2Q26 total revenue vs $241.4M in 1Q26

Net interest margin 3.84% 2Q26 FTE NIM, flat vs 1Q26 and up from 3.06% in 2Q25

Allowance for credit losses 1.32% ACL to loans at end of 2Q26

Net charge-off ratio 0.20% 2Q26 annualized NCO ratio vs 0.25% in 2Q25

Previous Earnings Reports

5 past events · Latest: Apr 16 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 16	1Q26 earnings report	Positive	+5.2%	Net income of $68.5M, EPS $0.47 and margin at 3.84% with loan growth.
Jan 20	4Q25 earnings report	Positive	+8.9%	4Q25 net income $78.1M, EPS $0.54, NIM expansion and better efficiency ratio.
Oct 16	3Q25 earnings report	Negative	+1.5%	Reported $562.8M net loss from balance sheet repositioning despite positive adjusted metrics.
Jul 17	2Q25 earnings report	Positive	+1.9%	Q2 2025 net income $54.8M, EPS $0.43 and continued net interest margin growth.
Apr 16	1Q25 earnings report	Negative	-4.0%	1Q25 earnings fell versus prior quarter amid higher provisions and a fraud charge.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings headlines for SFNC have typically produced modestly positive one-day moves, with most recent reports trading in the same direction as the headline tone.

Key Terms

net interest margin, allowance for credit losses, tangible common equity, common equity tier 1, +1 more

5 terms

net interest margin financial

"Net interest margin for the second quarter of 2026 on a fully taxable equivalent (FTE) basis2 was 3.84 percent"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses financial

"The allowance for credit losses on loans as a percentage of total loans at the end of the second quarter of 2026 was 1.32 percent"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

tangible common equity financial

"Tangible common equity (TCE) ratio 1 | 8.91 | 8.74 | 8.46"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

common equity tier 1 financial

"Common equity tier 1 (CET1) ratio | 11.60 | 11.58 | 12.36"

Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.

fdic deposit insurance special assessment regulatory

"FDIC deposit insurance special assessment | | - | (2.0) |"

A FDIC deposit insurance special assessment is a one-time charge levied on insured banks to replenish the fund that protects customer deposits after unexpected losses. Think of it as a shared emergency bill that banks must pay to restore a community safety net; the cost reduces a bank’s cash and profits, can affect lending and capital cushions, and therefore matters to investors because it can lower bank earnings and influence stock and bond valuations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PINE BLUFF, Ark., July 16, 2026 /PRNewswire/ --

Financial Highlights	2Q26	1Q26	2Q25		2Q26 Highlights
Income Statement Summary (in millions)					Comparisons reflect 2Q26 vs 1Q26 unless otherwise noted Net income of $66.7 million and diluted EPS of $0.46 Adjusted net income1 of $72.2 million and adjusted diluted EPS1 of $0.50 ROAA of 1.09% and ROE of 7.69% Adjusted ROAA1 of 1.17%; adjusted ROTCE1 of 14.37% Total revenue of $248.6 million and PPNR1 of $100.8 million Net interest margin unchanged at 3.84%; cost of deposits down 3 bps to 1.93% Efficiency ratio of 58.72%; adjusted efficiency ratio1 of 54.26% Unfunded commitments up 8% Noninterest bearing deposits up 6% annualized Provision expense exceeded net charge-offs by $8.3 million NCO ratio at 20 bps for 2Q26; ACL at 1.32% Repurchased 0.7 million shares during the quarter
Total revenue	$  248.6	$  241.4	$214.2
Adjusted total revenue1	248.6	241.4	214.2
Pre-provision net revenue1 (PPNR)	100.8	100.7	75.6
Adjusted pre-provision net revenue1	108.2	100.7	77.3
Provision for credit losses	17.4	14.6	11.9
Net income	66.7	68.5	54.8
Adjusted net income1	72.2	68.6	56.1
Per Share Data
Diluted earnings	$    0.46	$    0.47	$   0.43
Adjusted diluted earnings1	0.50	0.47	0.44
Cash dividend declared	0.2150	0.2150	0.2125
Balance Sheet (in millions)
Total loans	$18,062	$17,933	$17,111
Total deposits	19,728	20,203	21,825
Total assets	24,777	24,693	26,694
Total shareholders' equity	3,482	3,438	3,549
Asset Quality
Net charge-off ratio (NCO ratio)	0.20 %	0.21 %	0.25 %
Allowance for credit losses to loans (ACL)	1.32	1.28	1.48
Capital Ratios
Equity to assets (EA) ratio	14.05 %	13.92 %	13.30 %
Tangible common equity (TCE) ratio1	8.91	8.74	8.46
Common equity tier 1 (CET1) ratio	11.60	11.58	12.36
Total risk-based capital ratio	14.35	14.36	14.42
Other Ratios
Return on average assets	1.09 %	1.13 %	0.82 %
Adjusted return on average assets1	1.17	1.13	0.84
Return on average common equity	7.69	8.01	6.20
Return on average tangible common equity1	13.32	13.90	10.73
Adj. return onavg. tangible common equity1	14.37	13.91	10.97
Net interest margin (FTE)2	3.84	3.84	3.06
Efficiency ratio	58.72	57.56	62.82
Adjusted efficiency ratio1	54.26	56.16	60.52

Jay Brogdon, Simmons' President and CEO, commented on second quarter 2026 results:

"Simmons delivered continued expansion in returns in the second quarter, reflecting revenue growth coupled with disciplined expense control. Committed loan production reached $1.8 billion, its highest quarterly level in almost four years, partially offset by expected paydowns, while our focus on disciplined loan and deposit pricing supported a stable net interest margin. Underlying trends in asset quality remain constructive, with net charge-offs of 20 basis points, provision expense exceeding net charge-offs by $8.3 million and continued positive trends in classified and criticized loans, even as we manage a single relationship that fully migrated to nonperforming in the second quarter. 

During the quarter, the continued execution of efficiency initiatives more than funded our investments in the business, reflecting ongoing progress of our continuous improvement mindset. These actions included the elimination of certain positions and further optimization of our real estate footprint through meaningful square footage reductions. As we look to the remainder of the year, we expect to sharpen our focus on the disciplined execution of these types of initiatives, which we believe will more than fund additional investments designed to further enhance the quality and sustainability of our organic growth outlook."

Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $66.7 million for the second quarter of 2026, compared to net income of $68.5 million for the first quarter of 2026 and $54.8 million for the second quarter of 2025. Diluted earnings per share were $0.46 for the second quarter of 2026, compared to $0.47 for the first quarter of 2026 and $0.43 for the second quarter of 2025. Adjusted earnings¹ for the second quarter of 2026 were $72.2 million, compared to $68.6 million for the first quarter of 2026 and $56.1 million for the second quarter of 2025. Adjusted diluted earnings per share¹ for the second quarter of 2026 were $0.50, compared to $0.47 for the first quarter of 2026 and $0.44 for the second quarter of 2025.

For the second quarter of 2026, return on average assets was 1.09 percent and return on average common equity was 7.69 percent. Adjusted return on average assets¹ was 1.17 percent and adjusted return on average tangible common equity¹ was 14.37 percent.   

The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.

Impact of Certain Items on Earnings and Diluted Earnings Per Share (EPS)

$ in millions, except per share data		2Q26	1Q26	2Q25
Net income		$ 66.7	$ 68.5	$ 54.8
Branch/real estate rightsizing costs, net		6.1	0.6	0.2
Severance/early retirement program costs		1.3	0.3	1.6
FDIC deposit insurance special assessment		-	(2.0)	-
Certain professional services		-	1.2	-
Total pre-tax impact		7.4	0.1	1.8
Tax effect		(1.9)	-	(0.5)
Total impact on earnings		5.5	0.1	1.3
Adjusted earnings1, 3		$ 72.2	$ 68.6	$ 56.1
Diluted EPS		$ 0.46	$ 0.47	$ 0.43
Branch/real estate rightsizing costs, net		0.04	-	-
Severance/early retirement program costs		0.01	-	0.01
FDIC deposit insurance special assessment		-	(0.01)	-
Certain professional services		-	0.01	-
Total pre-tax impact		0.05	-	0.01
Tax effect		(0.01)	-	-
Total impact on earnings		0.04	-	0.01
Adjusted Diluted EPS1		$ 0.50	$ 0.47	$ 0.44

Net Interest Income
Net interest income for the second quarter of 2026 totaled $200.6 million, up $3.5 million, or 7 percent annualized, compared to $197.2 million for the first quarter of 2026 and up $28.8 million, or 17 percent, compared to $171.8 million for the second quarter of 2025. The increase in net interest income on a linked quarter basis was primarily due to a $5.9 million increase in interest income, driven by a $7.0 million increase in loan interest income, offset in part by a $2.4 million increase in interest expense. The increase in net interest income on a year-over-year basis was primarily due to a $36.1 million decrease in interest expense, which included a $30.8 million decrease in interest bearing deposit costs and a $5.3 million decrease in the cost of other interest bearing liabilities. The decrease in interest expense compared to the prior year quarter reflected a reduction in wholesale funding as a result of the balance sheet repositioning completed in the third quarter of 2025, as well as a lower interest rate environment.

Net interest margin for the second quarter of 2026 on a fully taxable equivalent (FTE) basis² was 3.84 percent, unchanged from first quarter 2026 levels and up 78 basis points compared to 3.06 percent for the second quarter of 2025. The increase in net interest margin on a year-over-year basis primarily reflected the balance sheet repositioning that was completed during the third quarter of 2025.

Select Yield/Rates	2Q26	1Q26	4Q25	3Q25	2Q25
Loan yield (FTE)2	6.15 %	6.16 %	6.23 %	6.31 %	6.26 %
Investment securities yield (FTE)2	4.26	4.25	4.30	4.01	3.48
Cost of interest bearing deposits	2.46	2.47	2.62	2.86	2.97
Cost of deposits	1.93	1.96	2.04	2.25	2.36
Net interest spread (FTE)2	3.26	3.27	3.18	2.86	2.41
Net interest margin (FTE)2	3.84	3.84	3.81	3.50	3.06

Noninterest Income
Noninterest income for the second quarter of 2026 was $47.9 million, compared to $44.2 million in the first quarter of 2026 and $42.4 million in the second quarter of 2025. The increase in noninterest income on a linked quarter basis was primarily due to an increase in swap fee income and a positive valuation adjustment on Small Business Investment Company (SBIC) investments in the second quarter of 2026, both of which are included in other income in the table below.

Noninterest Income $ in millions	2Q26	1Q26	4Q25	3Q25	2Q25
Service charges on deposit accounts	$    12.3	$    12.7	$    12.7	$    13.0	$  12.6
Wealth management fees	10.2	10.5	10.3	10.0	9.5
Debit and credit card fees	9.0	8.5	8.7	8.5	8.6
Mortgage lending income	2.0	1.9	2.2	2.3	1.7
Other service charges and fees	1.6	1.6	1.5	1.5	1.3
Bank owned life insurance	4.2	4.2	3.9	3.9	3.9
Gain (loss) on sale of securities	-	-	-	(801.5)	-
Other income	8.6	4.8	12.4	6.1	4.8
Total noninterest income	$    47.9	$  44.2	$   51.7	$(756.2)	$ 42.4
Adjusted noninterest income1	$    47.9	$  44.2	$   51.7	$   45.9	$ 42.4

Noninterest Expense
Noninterest expense for the second quarter of 2026 was $147.7 million, compared to $140.7 million in the first quarter of 2026 and $138.6 million in the second quarter of 2025. Included in noninterest expense are certain items consisting of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. Collectively, these items totaled $7.4 million in the second quarter of 2026, $30 thousand in the first quarter of 2026 and $1.8 million in the second quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense¹ was $140.3 million in the second quarter of 2026, $140.6 million in the first quarter of 2026 and $136.8 million in the second quarter of 2025. The efficiency ratio for the second quarter of 2026 was 58.72 percent, compared to 57.56 percent for the first quarter of 2026 and 62.82 percent for the second quarter of 2025. The adjusted efficiency ratio¹ was 54.26 percent for the second quarter of 2026, compared to 56.16 percent for the first quarter of 2026 and 60.52 percent for the second quarter of 2025.

Noninterest Expense $ in millions	2Q26	1Q26	4Q25	3Q25	2Q25
Salaries and employee benefits	$  75.6	$ 75.9	$  72.9	$  76.2	$  73.9
Occupancy expense, net	14.7	12.2	11.6	12.1	11.8
Furniture and equipment	5.7	5.4	5.3	5.3	5.5
Deposit insurance	4.5	2.3	4.7	5.2	4.9
Other real estate and foreclosure expense	0.7	0.3	0.4	0.2	0.2
Other operating expenses	46.6	44.5	44.8	43.0	42.3
Total noninterest expense	$147.7	$140.7	$139.9	$142.0	$138.6
Adjusted salaries and employee benefits1	$  74.3	$  75.6	$ 72.9	$  75.9	$  72.3
Adjusted other operating expenses1	44.2	43.1	44.0	41.5	42.5
Adjusted noninterest expense1	140.3	140.6	138.6	139.7	136.8
Efficiency ratio	58.72 %	57.56 %	55.52 %	(25.11) %	62.82 %
Adjusted efficiency ratio1	54.26	56.16	53.64	57.72	60.52
Full-time equivalent employees	2,909	2,913	2,917	2,883	2,947
Number of financial centers	220	221	222	223	223

Loans and Unfunded Loan Commitments
Total loans at the end of the second quarter of 2026 were $18.1 billion, up $129.5 million, or 3 percent annualized, compared to $17.9 billion at the end of the first quarter of 2026, and up $951.3 million, or 6 percent, compared to $17.1 billion at the end of the second quarter of 2025. The increase in total loans on a linked quarter basis was driven by increases in agricultural, commercial real estate and consumer and other portfolios, offset in part by a decrease in real estate construction. Unfunded loan commitments at the end of the second quarter of 2026 were $4.4 billion, compared to $4.1 billion at the end of the first quarter of 2026 and $3.9 billion at the end of the second quarter of 2025. The commercial loan pipeline totaled $1.4 billion at the end of the second quarter of 2026, and ready-to-close commercial loans totaled $374 million with a weighted average rate of 6.73 percent.

Loans and Unfunded Loan Commitments $ in millions	2Q26	1Q26	4Q25	3Q25	2Q25
Total loans	$18,062	$17,933	$17,492	$17,189	$17,111
Unfunded loan commitments	4,384	4,068	3,871	3,955	3,947

Deposits and Other Borrowings
Total deposits at the end of the second quarter of 2026 were $19.7 billion, compared to $20.2 billion at the end of the first quarter of 2026 and $21.8 billion at the end of the second quarter of 2025. Noninterest bearing deposits totaled $4.4 billion at the end of the second quarter of 2026, up $60.8 million, or 6 percent annualized, compared to $4.3 billion at the end of the first quarter of 2026. Interest bearing deposits at the end of the second quarter of 2026 totaled $15.4 billion, compared to $15.9 billion at the end of the first quarter of 2026 and $17.4 billion at the end of the second quarter of 2025. The decrease in interest bearing deposits on a linked quarter basis was driven by lower levels of interest bearing transaction accounts and savings accounts, and time deposits, coupled with a reduction in the utilization of brokered deposits given pricing relative to FHLB advances. The decrease in total deposits on a year-over-year basis primarily reflects a reduction of higher rate, non-relationship wholesale and public fund deposits as part of the balance sheet repositioning completed during the third quarter of 2025.

Other borrowings at the end of the second quarter of 2026 were $941.3 million, compared to $446.8 million at the end of the first quarter of 2026 and $634.3 million at the end of the second quarter of 2025. The increase in other borrowings on a linked quarter basis reflected increased utilization of short-term FHLB advances given favorable pricing.

Deposits $ in millions	2Q26	1Q26	4Q25	3Q25	2Q25
Noninterest bearing deposits	$  4,350	$  4,290	$  4,330	$  4,377	$  4,468
Interest bearing transaction accounts	10,332	10,667	10,453	10,289	10,532
Time deposits	3,233	3,334	3,508	3,331	3,588
Brokered deposits	1,813	1,912	1,893	1,841	3,237
Total deposits	$19,728	$20,203	$20,184	$19,838	$21,825
Noninterest bearing deposits to total deposits	22 %	21 %	21 %	22 %	20 %
Total loans to total deposits	92	89	87	87	78

Asset Quality
Provision for credit losses on loans totaled $17.4 million for the second quarter of 2026, compared to $14.6 million in the first quarter of 2026 and $11.9 million in the second quarter of 2025. Net charge-offs as a percentage of average loans for the second quarter of 2026 were 20 basis points, compared to 21 basis points in the first quarter of 2026 and 25 basis points in the second quarter of 2025. Provision for credit losses on loans exceeded net charge-offs by $8.3 million during the second quarter of 2026. The allowance for credit losses on loans at the end of the second quarter of 2026 was $238.2 million, compared to $229.9 million at the end of the first quarter of 2026 and $253.5 million at the end of the second quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the second quarter of 2026 was 1.32 percent, compared to 1.28 percent at the end of the first quarter of 2026 and 1.48 percent at the end of the second quarter of 2025.

Loans past due 30-89 days as a percentage of total loans were 29 basis points at the end of the second quarter of 2026, compared to 51 basis points at the end of the first quarter of 2026 and 17 basis points at the end of the second quarter of 2025. Total nonperforming loans at the end of the second quarter of 2026 totaled $166.0 million, compared to $141.9 million at the end of the first quarter of 2026 and $157.2 million at the end of the second quarter of 2025. The increase in nonperforming loans on a linked quarter basis primarily reflected further migration of the remaining portion of a single 1-4 family real estate construction relationship previously disclosed in the first quarter of 2026. The nonperforming loan coverage ratio ended the second quarter of 2026 at 143 percent, compared to 162 percent at the end of the first quarter of 2026 and 161 percent at the end of the second quarter of 2025. Total nonperforming assets as a percentage of total assets were 72 basis points at the end of the second quarter of 2026, compared to 63 basis points at the end of the first quarter of 2026 and 62 basis points at the end of the second quarter of 2025.

Asset Quality $ in millions	2Q26	1Q26	4Q25	3Q25	2Q25
Allowance for credit losses on loans to total loans	1.32 %	1.28 %	1.28 %	1.50 %	1.48 %
Allowance for credit losses on loans to nonperforming loans	143	162	199	168	161
Nonperforming loans to total loans	0.92	0.79	0.64	0.90	0.92
Net charge-off ratio (annualized)	0.20	0.21	1.12	0.25	0.25
Net charge-off ratio YTD (annualized)	0.21	0.21	0.47	0.24	0.24
Loans past due 30-89 days to total loans	0.29	0.51	0.27	0.11	0.17
Total nonperforming loans	$166.1	$141.9	$112.7	$153.9	$157.2
Total other nonperforming assets	11.1	12.6	12.4	6.8	9.5
Total nonperforming assets	$177.2	$154.5	$125.1	$160.7	$166.7
Reserve for unfunded commitments	$25.6	$25.6	$25.6	$25.6	$25.6

Capital
Total stockholders' equity at the end of the second quarter of 2026 was $3.5 billion, compared to $3.4 billion at the end of the first quarter of 2026 and $3.5 billion at the end of the second quarter of 2025. Book value per share at the end of the second quarter of 2026 was $24.11, compared to $23.70 at the end of the first quarter of 2026 and $28.17 at the end of the second quarter of 2025. Tangible book value per share¹ at the end of the second quarter of 2026 was $14.42, compared to $14.03 at the end of the first quarter of 2026 and $16.97 at the end of the second quarter of 2025. The increase in book value per share and tangible book value per share on a linked quarter basis was primarily due to a $35.6 million increase in undivided profits. The year-over-year decline in book value per share and tangible book value per share was primarily due to the balance sheet repositioning completed in the third quarter of 2025.

Total stockholders' equity as a percentage of total assets at the end of the second quarter of 2026 was 14.1 percent, compared to 13.9 percent at the end of first quarter of 2026 and 13.3 percent at the end of the second quarter of 2025. Tangible common equity as a percentage of tangible assets¹ was 8.9 percent at the end of the second quarter of 2026, compared to 8.7 percent at the end of the first quarter of 2026 and 8.5 percent at the end of the second quarter of 2025. Both Simmons and its principal subsidiary, Simmons Bank, continue to maintain regulatory capital ratios significantly above "well-capitalized" regulatory guidelines.

Select Capital Ratios	2Q26	1Q26	4Q25	3Q25	2Q25
Stockholders' equity to total assets	14.1 %	13.9 %	13.9 %	13.9 %	13.3 %
Tangible common equity to tangible assets1	8.9	8.7	8.7	8.5	8.5
Common equity tier 1 (CET1) ratio	11.6	11.6	11.6	11.5	12.4
Tier 1 leverage ratio	10.2	10.1	10.1	9.6	10.0
Tier 1 risk-based capital ratio	11.6	11.6	11.6	11.5	12.4
Total risk-based capital ratio	14.4	14.4	14.4	15.1	14.4

Share Repurchase Program 
During the second quarter of 2026, Simmons repurchased approximately 0.7 million shares of its Class A common stock at an average price of $21.52 under its 2026 stock repurchase program (2026 Program). Remaining authorization under the 2026 Program as of June 30, 2026, was approximately $161 million. The timing, pricing and amount of any repurchases under the 2026 Program will be determined by Simmons' management at its discretion based on a variety of factors, including, but not limited to, market conditions, trading volume and market price of Simmons' common stock, Simmons' capital needs, Simmons' working capital and investment requirements, other corporate considerations, economic conditions, and legal requirements. The 2026 Program does not obligate Simmons to repurchase any common stock and may be modified, discontinued or suspended at any time without prior notice.

(1) Non-GAAP measurement. See "Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP Financial Measures" below
(2) FTE – fully taxable equivalent basis using an effective tax rate of 26.135%
(3) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income"

Conference Call
Management will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Friday, July 17, 2026. Interested parties can listen to this call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporation conference call, conference ID 10210202. In addition, the call will be available live or in recorded version on Simmons' website at simmonsbank.com for at least 60 days following the date of the call.

Simmons First National Corporation
Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 117 consecutive years. Its principal subsidiary, Simmons Bank, operates 220 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Recently, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks and Credit Unions 2026 and by Forbes as one of America's Best-In-State Companies 2026. In 2025, Simmons Bank was recognized by Newsweek as one of America's Greatest Workplaces 2025 in Arkansas and one of America's Best Regional Banks 2025, and by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X or by visiting our newsroom.

Non-GAAP Financial Measures
This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures adjust GAAP performance measures to, among other things, include the tax benefit associated with revenue items that are tax-exempt, as well as exclude from net income (including on a per share diluted basis), pre-tax, pre-provision earnings, net charge-offs, income available to common shareholders, noninterest income, and noninterest expense certain income and expense items attributable to, for example, branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services.

In addition, the Company also presents certain figures based on tangible common stockholders' equity, tangible assets and tangible book value, which exclude goodwill and other intangible assets. The Company further presents certain figures that are exclusive of the impact of deposits and/or loans acquired through acquisitions, mortgage warehouse loans, and/or energy loans, or gains and/or losses on the sale of securities. The Company's management believes that these non-GAAP financial measures are useful to investors because they, among other things, present the results of the Company's ongoing operations without the effect of mergers or other items not central to the Company's ongoing business, as well as normalize for tax effects and certain other effects. Management, therefore, believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's ongoing businesses, and management uses these non-GAAP financial measures to assess the performance of the Company's ongoing businesses as related to prior financial periods. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

Forward-Looking Statements
Certain statements in this press release may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, without limitation, statements made in Mr. Brogdon's quote, may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to Simmons' future growth, business strategies, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, dividends, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, future economic conditions and interest rates, and the adequacy of reserve levels for loans. Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, changes in credit quality, changes in interest rates and related governmental policies, the effects of a government shutdown, changes in loan demand, changes in deposit flows, changes in real estate values, changes in the assumptions used in making the forward-looking statements, changes in the securities markets generally or the price of Simmons' common stock specifically, changes in information technology affecting the financial industry, and changes in customer behaviors, including consumer spending, borrowing, and saving habits; changes in tariff policies; general economic and market conditions; changes in governmental administrations; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts in the Middle East and between Russia and Ukraine) or other major events, or the prospect of these events; the soundness of other financial institutions and any indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships; increased inflation; the loss of key employees; increased competition in the markets in which the Company operates and from non-bank financial institutions; increased unemployment; labor shortages; claims, damages, and fines related to litigation or government actions; changes in accounting principles relating to loan loss recognition (current expected credit losses); fraud that results in material losses or that the Company has not discovered yet that may result in material losses; the Company's ability to manage and successfully integrate its mergers and acquisitions and to fully realize cost savings and other benefits associated with acquisitions; increased delinquency and foreclosure rates on commercial real estate loans; significant increases in nonaccrual loan balances; cyber or other information technology threats, attacks or events; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats; reliance on third parties for key services; government legislation; and other factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those projected in or contemplated by the forward-looking statements. In addition, there can be no guarantee that the board of directors (Board) of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) is subject to, among other things, the discretion of the Board and may differ significantly from past dividends. Additional information on factors that might affect the Company's financial results is included in the Company's Form 10-K for the year ended December 31, 2025, the Company's Form 10-Q for the quarter ended March 31, 2026, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.

Simmons First National Corporation									SFNC
Consolidated End of Period Balance Sheets
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
ASSETS
Cash and noninterest bearing balances due from banks	$        377,602		$        342,603		$        380,439		$        377,604		$        398,081
Interest bearing balances due from banks and federal funds sold	211,882		205,880		331,474		266,013		246,381
Cash and cash equivalents	589,484		548,483		711,913		643,617		644,462
Interest bearing balances due from banks - time	100		100		100		100		100
Investment securities - held-to-maturity	-		-		-		-		3,591,531
Investment securities - available-for-sale	3,077,181		3,152,286		3,266,221		3,319,277		2,405,320
Mortgage loans held for sale	16,450		14,311		17,438		15,507		16,972
Assets held in trading accounts	14,541		14,543		11,685		12,695		-
Loans:
Loans	18,062,369		17,932,883		17,492,179		17,188,817		17,111,096
Allowance for credit losses on loans	(238,227)		(229,908)		(224,377)		(258,006)		(253,537)
Net loans	17,824,142		17,702,975		17,267,802		16,930,811		16,857,559
Premises and equipment	552,435		557,873		561,220		568,343		573,160
Foreclosed assets and other real estate owned	11,080		12,475		12,009		6,386		8,794
Interest receivable	103,016		101,557		104,062		104,383		120,443
Bank owned life insurance	545,252		542,486		540,001		539,372		535,481
Goodwill	1,320,799		1,320,799		1,320,799		1,320,799		1,320,799
Other intangible assets	78,228		81,325		84,423		87,520		90,617
Other assets	644,108		643,570		643,204		659,352		528,382
Total assets	$   24,776,816		$   24,692,783		$   24,540,877		$   24,208,162		$   26,693,620
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest bearing transaction accounts	$     4,350,474		$     4,289,697		$     4,330,211		$     4,377,232		$     4,468,237
Interest bearing transaction accounts and savings deposits	11,133,265		11,311,979		11,141,169		10,932,914		11,176,791
Time deposits	4,244,371		4,601,107		4,712,658		4,527,587		6,179,962
Total deposits	19,728,110		20,202,783		20,184,038		19,837,733		21,824,990
Federal funds purchased and securities sold
under agreements to repurchase	46,216		8,708		21,383		22,348		31,306
Other borrowings	941,256		446,756		302,253		18,832		634,349
Subordinated notes and debentures	312,028		315,700		317,714		648,976		366,369
Accrued interest and other liabilities	267,347		281,102		296,249		326,310		287,396
Total liabilities	21,294,957		21,255,049		21,121,637		20,854,199		23,144,410
Stockholders' equity:
Common stock	1,444		1,451		1,448		1,447		1,260
Surplus	2,837,845		2,848,952		2,846,581		2,848,977		2,518,286
Undivided profits	937,307		901,696		864,341		817,022		1,410,564
Accumulated other comprehensive (loss) income	(294,737)		(314,365)		(293,130)		(313,483)		(380,900)
Total stockholders' equity	3,481,859		3,437,734		3,419,240		3,353,963		3,549,210
Total liabilities and stockholders' equity	$   24,776,816		$   24,692,783		$   24,540,877		$   24,208,162		$   26,693,620

 

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands, except per share data)
INTEREST INCOME
Loans (including fees)	$    274,271		$    267,287		$    270,868		$   269,210		$   265,373
Interest bearing balances due from banks and federal funds sold	2,058		2,320		2,485		6,421		2,531
Investment securities	31,013		31,882		33,833		37,464		46,898
Mortgage loans held for sale	202		203		227		229		221
Assets held in trading accounts	136		122		118		99		-
TOTAL INTEREST INCOME	307,680		301,814		307,531		313,423		315,023
INTEREST EXPENSE
Time deposits	36,996		39,949		41,989		49,064		57,231
Other deposits	58,536		57,653		60,516		67,546		69,108
Federal funds purchased and securities	-
sold under agreements to repurchase	426		36		57		72		59
Other borrowings	5,873		1,746		2,138		2,957		10,613
Subordinated notes and debentures	5,222		5,262		5,535		7,123		6,188
TOTAL INTEREST EXPENSE	107,053		104,646		110,235		126,762		143,199
NET INTEREST INCOME	200,627		197,168		197,296		186,661		171,824
PROVISION FOR CREDIT LOSSES
Provision for credit losses on loans	17,434		14,622		15,116		15,180		11,945
Provision for credit losses on investment securities - HTM	-		-		-		(3,214)		-
TOTAL PROVISION FOR CREDIT LOSSES	17,434		14,622		15,116		11,966		11,945
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES	183,193		182,546		182,180		174,695		159,879
NONINTEREST INCOME
Service charges on deposit accounts	12,329		12,656		12,669		13,045		12,588
Debit and credit card fees	9,008		8,503		8,660		8,478		8,567
Wealth management fees	10,240		10,533		10,337		9,965		9,464
Mortgage lending income	1,994		1,854		2,232		2,259		1,687
Bank owned life insurance income	4,218		4,218		3,942		3,943		3,890
Other service charges and fees (includes insurance income)	1,551		1,606		1,503		1,474		1,321
Gain (loss) on sale of securities	-		-		-		(801,492)		-
Other income	8,599		4,827		12,365		6,141		4,837
TOTAL NONINTEREST INCOME	47,939		44,197		51,708		(756,187)		42,354
NONINTEREST EXPENSE
Salaries and employee benefits	75,590		75,885		72,924		76,249		73,862
Occupancy expense, net	14,715		12,218		11,636		12,106		11,844
Furniture and equipment expense	5,739		5,423		5,304		5,275		5,474
Other real estate and foreclosure expense	695		315		432		200		216
Deposit insurance	4,450		2,295		4,736		5,175		4,917
Other operating expenses	46,550		44,537		44,830		43,027		42,276
TOTAL NONINTEREST EXPENSE	147,739		140,673		139,862		142,032		138,589
NET INCOME (LOSS) BEFORE INCOME TAXES	83,393		86,070		94,026		(723,524)		63,644
Provision for income taxes	16,702		17,526		15,948		(160,732)		8,871
NET INCOME (LOSS)	$      66,691		$      68,544		$      78,078		$ (562,792)		$     54,773
BASIC EARNINGS PER SHARE	$          0.46		$          0.47		$          0.54		$       (4.01)		$         0.43
DILUTED EARNINGS PER SHARE	$          0.46		$          0.47		$          0.54		$       (4.00)		$         0.43

 

Simmons First National Corporation									SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Tier 1 capital
Stockholders' equity	$     3,481,859		$     3,437,734		$     3,419,240		$     3,353,963		$     3,549,210
Disallowed intangible assets, net of deferred tax	(1,367,717)		(1,370,562)		(1,374,839)		(1,376,255)		(1,379,104)
Unrealized loss (gain) on AFS securities	294,737		314,365		293,130		313,483		380,900
Total Tier 1 capital	2,408,879		2,381,537		2,337,531		2,291,191		2,551,006
Tier 2 capital
Subordinated notes and debentures	312,028		315,700		317,714		648,976		366,369
Subordinated debt phase out	-		-		-		(198,000)		(198,000)
Qualifying allowance for loan losses and
reserve for unfunded commitments	259,693		255,537		250,006		248,710		258,079
Total Tier 2 capital	571,721		571,237		567,720		699,686		426,448
Total risk-based capital	$     2,980,600		$     2,952,774		$     2,905,251		$     2,990,877		$     2,977,454
Risk weighted assets	$   20,771,268		$   20,565,445		$   20,106,493		$   19,861,879		$   20,646,324
Adjusted average assets for leverage ratio	$   23,617,439		$   23,487,513		$   23,224,638		$   23,963,356		$   25,606,135
Ratios at end of quarter
Equity to assets	14.05 %		13.92 %		13.93 %		13.85 %		13.30 %
Tangible common equity to tangible assets (1)	8.91 %		8.74 %		8.71 %		8.53 %		8.46 %
Common equity Tier 1 ratio (CET1)	11.60 %		11.58 %		11.63 %		11.54 %		12.36 %
Tier 1 leverage ratio	10.20 %		10.14 %		10.06 %		9.56 %		9.96 %
Tier 1 risk-based capital ratio	11.60 %		11.58 %		11.63 %		11.54 %		12.36 %
Total risk-based capital ratio	14.35 %		14.36 %		14.45 %		15.07 %		14.42 %

(1) Calculations of tangible common equity to tangible assets and the reconciliations to GAAP are included in the schedules accompanying this release.

 

Simmons First National Corporation									SFNC
Consolidated Investment Securities
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Investment Securities - End of Period
Held-to-Maturity
U.S. Government agencies	$                -		$                -		$                -		$                -		$      457,228
Mortgage-backed securities	-		-		-		-		1,024,313
State and political subdivisions	-		-		-		-		1,855,614
Other securities	-		-		-		-		254,376
Total held-to-maturity (net of credit losses)	-		-		-		-		3,591,531
Available-for-Sale
U.S. Treasury	$                -		$                -		$                -		$                -		$             400
U.S. Government agencies	44,425		46,329		47,172		48,355		49,498
Mortgage-backed securities	2,061,760		2,128,732		2,201,958		2,249,593		1,349,991
State and political subdivisions	865,467		838,880		859,071		845,371		807,842
Other securities	105,529		138,345		158,020		175,958		197,589
Total available-for-sale (net of credit losses)	3,077,181		3,152,286		3,266,221		3,319,277		2,405,320
Total investment securities (net of credit losses)	$   3,077,181		$   3,152,286		$   3,266,221		$   3,319,277		$   5,996,851
Fair value - HTM investment securities	$                -		$                -		$                -		$                -		$   2,891,974

 

Simmons First National Corporation									SFNC
Consolidated Loans
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Loan Portfolio - End of Period
Consumer:
Credit cards	$        174,148		$        172,610		$        175,760		$        173,020		$        176,166
Other consumer	99,117		96,387		115,472		112,335		123,831
Total consumer	273,265		268,997		291,232		285,355		299,997
Real Estate:
Construction	2,577,630		2,621,859		2,873,807		2,874,823		2,784,578
Single-family residential	2,564,282		2,566,162		2,607,450		2,617,849		2,625,717
Other commercial real estate	8,828,771		8,764,648		8,289,968		7,875,649		7,961,412
Total real estate	13,970,683		13,952,669		13,771,225		13,368,321		13,371,707
Commercial:
Commercial	2,516,607		2,521,440		2,382,339		2,397,388		2,440,507
Agricultural	426,522		333,508		306,300		353,181		333,078
Total commercial	2,943,129		2,854,948		2,688,639		2,750,569		2,773,585
Other	875,292		856,269		741,083		784,572		665,807
Total loans	$   18,062,369		$   17,932,883		$   17,492,179		$   17,188,817		$   17,111,096

 

Simmons First National Corporation									SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Allowance for Credit Losses on Loans
Beginning balance	$     229,908		$     224,377		$     258,006		$     253,537		$     252,168
Loans charged off:
Credit cards	1,368		1,677		1,346		1,862		1,702
Other consumer	350		590		550		600		351
Real estate	5,465		6,629		25,850		1,350		1,450
Commercial	3,520		1,666		22,004		8,079		8,257
Total loans charged off	10,703		10,562		49,750		11,891		11,760
Recoveries of loans previously charged off:
Credit cards	244		468		347		257		334
Other consumer	381		301		163		303		294
Real estate	151		449		105		115		87
Commercial	812		253		390		505		469
Total recoveries	1,588		1,471		1,005		1,180		1,184
Net loans charged off	9,115		9,091		48,745		10,711		10,576
Provision for credit losses on loans	17,434		14,622		15,116		15,180		11,945
Balance, end of quarter	$     238,227		$     229,908		$     224,377		$     258,006		$     253,537
Nonperforming assets
Nonperforming loans:
Nonaccrual loans	$     165,295		$     141,233		$     111,791		$     153,516		$     156,453
Loans past due 90 days or more	753		647		948		423		709
Total nonperforming loans	166,048		141,880		112,739		153,939		157,162
Other nonperforming assets:
Foreclosed assets and other real estate owned	11,080		12,475		12,009		6,386		8,794
Other nonperforming assets	60		181		323		392		759
Total other nonperforming assets	11,140		12,656		12,332		6,778		9,553
Total nonperforming assets	$     177,188		$     154,536		$     125,071		$     160,717		$     166,715
Loans past due 30-89 days (excluding nonaccrual)	$       52,308		$       91,245		$       47,016		$       19,207		$       28,313
Ratios
Allowance for credit losses on loans to total loans	1.32 %		1.28 %		1.28 %		1.50 %		1.48 %
Allowance for credit losses to nonperforming loans	143 %		162 %		199 %		168 %		161 %
Nonperforming loans to total loans	0.92 %		0.79 %		0.64 %		0.90 %		0.92 %
Nonperforming assets to total assets	0.72 %		0.63 %		0.51 %		0.66 %		0.62 %
Annualized net charge offs to average loans (QTD)	0.20 %		0.21 %		1.12 %		0.25 %		0.25 %
Annualized net charge offs to average loans (YTD)	0.21 %		0.21 %		0.47 %		0.24 %		0.24 %
Annualized net credit card charge offs to
average credit card loans (QTD)	2.57 %		2.81 %		2.23 %		3.64 %		2.99 %
Loans past due 30-89 days to total loans	0.29 %		0.51 %		0.27 %		0.11 %		0.17 %

 

Simmons First National Corporation																	SFNC
Consolidated - Average Balance Sheet and Net Interest Income Analysis
For the Quarters Ended
(Unaudited)
	Three Months Ended Jun 2026						Three Months Ended Mar 2026						Three Months Ended Jun 2025
($ in thousands)	Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate		Average Balance		Income/ Expense		Yield/ Rate
ASSETS
Earning assets:
Interest bearing balances due from banks
and federal funds sold	$        199,704		$       2,058		4.13 %		$        251,620		$      2,320		3.74 %		$        219,928		$      2,531		4.62 %
Investment securities - taxable	2,301,053		25,472		4.44 %		2,408,546		26,311		4.43 %		3,483,805		31,233		3.60 %
Investment securities - non-taxable (FTE)	802,448		7,502		3.75 %		820,278		7,542		3.73 %		2,564,037		21,210		3.32 %
Mortgage loans held for sale	13,556		202		5.98 %		13,800		203		5.97 %		13,063		221		6.79 %
Assets held in trading accounts	14,731		136		3.70 %		13,748		122		3.60 %		-		-		0.00 %
Loans - including fees (FTE)	17,956,572		275,339		6.15 %		17,658,807		268,328		6.16 %		17,046,802		266,250		6.26 %
Total interest earning assets (FTE)	21,288,064		310,709		5.85 %		21,166,799		304,826		5.84 %		23,327,635		321,445		5.53 %
Non-earning assets	3,349,957						3,366,206						3,317,496
Total assets	$   24,638,021						$   24,533,005						$   26,645,131
LIABILITIES AND STOCKHOLDERS' EQUITY
Interest bearing liabilities:
Interest bearing transaction and
savings accounts	$   11,192,627		$     58,536		2.10 %		$   11,328,148		$    57,653		2.06 %		$   11,220,060		$    69,108		2.47 %
Time deposits	4,406,355		36,996		3.37 %		4,678,058		39,949		3.46 %		5,820,499		57,231		3.94 %
Total interest bearing deposits	15,598,982		95,532		2.46 %		16,006,206		97,602		2.47 %		17,040,559		126,339		2.97 %
Federal funds purchased and securities
sold under agreement to repurchase	57,758		426		2.96 %		17,743		36		0.82 %		32,565		59		0.73 %
Other borrowings	635,693		5,873		3.71 %		192,345		1,746		3.68 %		960,817		10,613		4.43 %
Subordinated notes and debentures	314,108		5,222		6.67 %		318,635		5,262		6.70 %		366,350		6,188		6.77 %
Total interest bearing liabilities	16,606,541		107,053		2.59 %		16,534,929		104,646		2.57 %		18,400,291		143,199		3.12 %
Noninterest bearing liabilities:
Noninterest bearing deposits	4,272,088						4,229,952						4,390,454
Other liabilities	280,861						297,864						308,223
Total liabilities	21,159,490						21,062,745						23,098,968
Stockholders' equity	3,478,531						3,470,260						3,546,163
Total liabilities and stockholders' equity	$   24,638,021						$   24,533,005						$   26,645,131
Net interest income (FTE)			$   203,656						$  200,180						$  178,246
Net interest spread (FTE)					3.26 %						3.27 %						2.41 %
Net interest margin (FTE)					3.84 %						3.84 %						3.06 %

 

Simmons First National Corporation									SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands, except share data)
QUARTER-TO-DATE
Financial Highlights - As Reported
Net Income (loss)	$          66,691		$          68,544		$          78,078		$      (562,792)		$          54,773
Diluted earnings per share	0.46		0.47		0.54		(4.00)		0.43
Return on average assets	1.09 %		1.13 %		1.28 %		-8.96 %		0.82 %
Return on average tangible assets (non-GAAP) (1)	1.19 %		1.24 %		1.40 %		-9.46 %		0.91 %
Return on average common equity	7.69 %		8.01 %		9.08 %		-66.29 %		6.20 %
Return on tangible common equity (non-GAAP) (1)	13.32 %		13.90 %		15.92 %		-113.56 %		10.73 %
Net interest margin (FTE)	3.84 %		3.84 %		3.81 %		3.50 %		3.06 %
Efficiency ratio (2)	58.72 %		57.56 %		55.52 %		-25.11 %		62.82 %
FTE adjustment	3,029		3,012		2,890		3,811		6,422
Average diluted shares outstanding	145,323,958		145,340,410		145,210,222		140,648,704		126,406,453
Shares repurchased under plan	662,082		-		-		-		-
Average price of shares repurchased	21.52		-		-		-		-
Cash dividends declared per common share	0.215		0.215		0.213		0.213		0.213
Accretable yield on acquired loans	778		902		749		725		1,263
Financial Highlights - Adjusted (non-GAAP) (1)
Adjusted earnings	$          72,171		$          68,566		$          78,975		$          64,930		$          56,071
Adjusted diluted earnings per share	0.50		0.47		0.54		0.46		0.44
Adjusted return on average assets	1.17 %		1.13 %		1.29 %		1.03 %		0.84 %
Adjusted return on average tangible assets (non-GAAP) (1)	1.29 %		1.24 %		1.41 %		1.13 %		0.93 %
Adjusted return on average common equity	8.32 %		8.01 %		9.19 %		7.65 %		6.34 %
Adjusted return on tangible common equity	14.37 %		13.91 %		16.10 %		13.62 %		10.97 %
Adjusted efficiency ratio (2)	54.26 %		56.16 %		53.64 %		57.72 %		60.52 %
YEAR-TO-DATE
Financial Highlights - GAAP
Net Income (loss)	$        135,235		$          68,544		$      (397,553)		$      (475,631)		$          87,161
Diluted earnings per share	0.93		0.47		(2.95)		(3.63)		0.69
Return on average assets	1.11 %		1.13 %		-1.55 %		-2.44 %		0.66 %
Return on average tangible assets (non-GAAP) (1)	1.22 %		1.24 %		-1.60 %		-2.54 %		0.74 %
Return on average common equity	7.85 %		8.01 %		-11.45 %		-18.21 %		4.94 %
Return on tangible common equity (non-GAAP) (1)	13.61 %		13.90 %		-18.84 %		-30.13 %		8.67 %
Net interest margin (FTE)	3.84 %		3.84 %		3.32 %		3.17 %		3.01 %
Efficiency ratio (2)	58.15 %		57.56 %		460.26 %		-329.30 %		64.86 %
FTE adjustment	6,041		3,012		19,537		16,647		12,836
Average diluted shares outstanding	145,335,181		145,340,410		134,731,180		131,132,891		126,325,650
Cash dividends declared per common share	0.430		0.215		0.850		0.638		0.425
Financial Highlights - Adjusted (non-GAAP) (1)
Adjusted earnings	$        140,737		$          68,566		$        233,098		$        154,123		$          89,193
Adjusted diluted earnings per share	0.97		0.47		1.73		1.18		0.71
Adjusted return on average assets	1.15 %		1.13 %		0.91 %		0.79 %		0.67 %
Adjusted return on average tangible assets (non-GAAP) (1)	1.26 %		1.24 %		1.00 %		0.87 %		0.75 %
Adjusted return on average common equity	8.17 %		8.01 %		6.71 %		5.90 %		5.06 %
Adjusted return on tangible common equity	14.14 %		13.91 %		11.78 %		10.37 %		8.86 %
Adjusted efficiency ratio (2)	55.20 %		56.16 %		58.92 %		60.90 %		62.62 %
END OF PERIOD
Book value per share	$            24.11		$            23.70		$            23.62		$            23.18		$            28.17
Tangible book value per share	14.42		14.03		13.91		13.45		16.97
Shares outstanding	144,442,482		145,058,331		144,762,817		144,703,075		125,996,248
Full-time equivalent employees	2,909		2,913		2,917		2,883		2,947
Total number of financial centers	220		221		222		223		223

(1) Non-GAAP measurement that management believes aids in the understanding and discussion of results. Reconciliations to GAAP are included in the schedules accompanying this release.

(2) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent) and noninterest revenues. Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest income (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Quarter-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
(in thousands, except per share data)
QUARTER-TO-DATE
Net income (loss)	$        66,691		$        68,544		$        78,078		$    (562,792)		$        54,773
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		-		570		-
FDIC Deposit Insurance special assessment	-		(1,984)		-		-		-
Certain professional services	-		1,200		-		-		-
Severance/early retirement program costs	1,320		283		-		305		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		-		801,492		-
Branch/real estate rightsizing costs, net	6,099		531		85		2,004		163
Tax effect of certain items (1)	(1,939)		(8)		(318)		(176,649)		(459)
Certain items, net of tax	5,480		22		897		627,722		1,298
Adjusted earnings (non-GAAP) (2)	$        72,171		$        68,566		$        78,975		$        64,930		$        56,071
Diluted earnings per share	$            0.46		$            0.47		$            0.54		$          (4.00)		$            0.43
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		-		-		-
FDIC Deposit Insurance special assessment	-		(0.01)		-		-		-
Certain professional services	-		0.01		-		-		-
Severance/early retirement program costs	0.01		-		-		-		0.01
Termination of vendor and software services	-		-		-		-		-
Loss on sale of Equipment Finance business	-		-		0.01		-		-
Loss (gain) on sale of securities	-		-		-		5.70		-
Branch/real estate rightsizing costs, net	0.04		-		-		0.01		-
Tax effect of certain items (1)	(0.01)		-		(0.01)		(1.25)		-
Certain items, net of tax	0.04		-		-		4.46		0.01
Adjusted diluted earnings per share (non-GAAP)	$            0.50		$            0.47		$            0.54		$            0.46		$            0.44
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items
(2) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income."
Reconciliation of Certain Noninterest Income and Expense Items (non-GAAP)
QUARTER-TO-DATE
Noninterest income	$        47,939		$        44,197		$        51,708		$    (756,187)		$        42,354
Certain noninterest income items
Loss on early extinguishment of debt	-		-		-		570		-
Loss (gain) on sale of securities	-		-		-		801,492		-
Adjusted noninterest income (non-GAAP)	$        47,939		$        44,197		$        51,708		$        45,875		$        42,354
Other income	$          8,599		$          4,827		$        12,365		$          6,141		$          4,837
Certain other income items
Loss on early extinguishment of debt	-		-		-		570		-
Adjusted other income (non-GAAP)	$          8,599		$          4,827		$        12,365		$          6,711		$          4,837
Noninterest expense	$      147,739		$      140,673		$      139,862		$      142,032		$      138,589
Certain noninterest expense items
Severance/early retirement program costs	(1,320)		(283)		-		(305)		(1,594)
FDIC Deposit Insurance special assessment	-		1,984		-		-		-
Certain professional services	-		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(6,099)		(531)		(85)		(2,004)		(163)
Adjusted noninterest expense (non-GAAP)	140,320		140,643		138,647		139,723		136,832
Less: Fraud event	-		-		-		-		-
Adjusted noninterest expense, excluding fraud event (non-GAAP)	$      140,320		$      140,643		$      138,647		$      139,723		$      136,832
Salaries and employee benefits	$        75,590		$        75,885		$        72,924		$        76,249		$        73,862
Certain salaries and employee benefits items
Severance/early retirement program costs	(1,320)		(283)		-		(305)		(1,594)
Other	4		-		-		(1)		1
Adjusted salaries and employee benefits (non-GAAP)	$        74,274		$        75,602		$        72,924		$        75,943		$        72,269
Other operating expenses	$        46,550		$        44,537		$        44,830		$        43,027		$        42,276
Certain other operating expenses items
Certain professional services	-		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(2,399)		(205)		327		(1,556)		255
Adjusted other operating expenses (non-GAAP)	$        44,151		$        43,132		$        44,027		$        41,471		$        42,531

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Year-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
(in thousands, except per share data)
YEAR-TO-DATE
Net income (loss)	$      135,235		$        68,544		$    (397,553)		$    (475,631)		$        87,161
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		570		570		-
FDIC Deposit Insurance special assessment	(1,984)		(1,984)		-		-		-
Certain professional services	1,200		1,200		-		-		-
Severance/early retirement program costs	1,603		283		1,899		1,899		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		801,492		801,492		-
Branch/real estate rightsizing costs, net	6,630		531		3,246		3,161		1,157
Tax effect of certain items (1)	(1,947)		(8)		(177,686)		(177,368)		(719)
Certain items, net of tax	5,502		22		630,651		629,754		2,032
Adjusted earnings (non-GAAP) (2)	$      140,737		$        68,566		$      233,098		$      154,123		$        89,193
Diluted earnings per share	$            0.93		$            0.47		$          (2.95)		$          (3.63)		$            0.69
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		0.01		-		-
FDIC Deposit Insurance special assessment	(0.01)		(0.01)		-		-		-
Certain professional services	0.01		0.01		-		-		-
Severance/early retirement program costs	0.01		-		0.01		0.02		0.01
Termination of vendor and software services	-		-		-		-		-
Loss on sale of Equipment Finance business	-		-		0.01		-		-
Loss (gain) on sale of securities	-		-		5.95		6.11		-
Branch/real estate rightsizing costs, net	0.04		-		0.02		0.02		0.01
Tax effect of certain items (1)	(0.01)		-		(1.32)		(1.34)		-
Certain items, net of tax	0.04		-		4.68		4.81		0.02
Adjusted diluted earnings per share (non-GAAP)	$            0.97		$            0.47		$            1.73		$            1.18		$            0.71
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items
(2) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income."
Reconciliation of Certain Noninterest Income and Expense Items (non-GAAP)
YEAR-TO-DATE
Noninterest income	$        92,136		$        44,197		$    (615,970)		$    (667,678)		$        88,509
Certain noninterest income items
Loss on early extinguishment of debt	-		-		570		570		-
Loss (gain) on sale of securities	-		-		801,492		801,492		-
Adjusted noninterest income (non-GAAP)	$        92,136		$        44,197		$      186,092		$      134,384		$        88,509
Other income	$        13,426		$          4,827		$        31,350		$        18,985		$        12,844
Certain other income items
Loss on early extinguishment of debt	-		-		570		570		-
Adjusted other income (non-GAAP)	$        13,426		$          4,827		$        31,920		$        19,555		$        12,844
Noninterest expense	$      288,412		$      140,673		$      565,063		$      425,201		$      283,169
Certain noninterest expense items
Severance/early retirement program costs	(1,603)		(283)		(1,899)		(1,899)		(1,594)
FDIC Deposit Insurance special assessment	1,984		1,984		-		-		-
Certain professional services	(1,200)		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(6,630)		(531)		(3,246)		(3,161)		(1,157)
Adjusted noninterest expense (non-GAAP)	280,963		140,643		558,788		420,141		280,418
Less: Fraud event	-		-		(4,300)		(4,300)		(4,300)
Adjusted noninterest expense, excluding fraud event (non-GAAP)	$      280,963		$      140,643		$      554,488		$      415,841		$      276,118
Salaries and employee benefits	$      151,475		$        75,885		$      297,859		$      224,935		$      148,686
Certain salaries and employee benefits items
Severance/early retirement program costs	(1,603)		(283)		(1,899)		(1,899)		(1,594)
Other	4		-		-		-		1
Adjusted salaries and employee benefits (non-GAAP)	$      149,876		$        75,602		$      295,960		$      223,036		$      147,093
Other operating expenses	$        91,087		$        44,537		$      176,184		$      131,354		$        88,327
Certain other operating expenses items
Certain professional services	(1,200)		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(2,604)		(205)		(1,135)		(1,462)		94
Adjusted other operating expenses (non-GAAP)	$        87,283		$        43,132		$      173,919		$      129,892		$        88,421

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - End of Period
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands, except per share data)
Calculation of Tangible Common Equity and the Ratio of Tangible Common Equity to Tangible Assets
Total common stockholders' equity	$     3,481,859		$     3,437,734		$     3,419,240		$     3,353,963		$     3,549,210
Intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangible assets	(78,228)		(81,325)		(84,423)		(87,520)		(90,617)
Total intangibles	(1,399,027)		(1,402,124)		(1,405,222)		(1,408,319)		(1,411,416)
Tangible common stockholders' equity	$     2,082,832		$     2,035,610		$     2,014,018		$     1,945,644		$     2,137,794
Total assets	$   24,776,816		$   24,692,783		$   24,540,877		$   24,208,162		$   26,693,620
Intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangible assets	(78,228)		(81,325)		(84,423)		(87,520)		(90,617)
Total intangibles	(1,399,027)		(1,402,124)		(1,405,222)		(1,408,319)		(1,411,416)
Tangible assets	$   23,377,789		$   23,290,659		$   23,135,655		$   22,799,843		$   25,282,204
Ratio of common equity to assets	14.05 %		13.92 %		13.93 %		13.85 %		13.30 %
Ratio of tangible common equity to tangible assets	8.91 %		8.74 %		8.71 %		8.53 %		8.46 %
Calculation of Tangible Book Value per Share
Total common stockholders' equity	$     3,481,859		$     3,437,734		$     3,419,240		$     3,353,963		$     3,549,210
Intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangible assets	(78,228)		(81,325)		(84,423)		(87,520)		(90,617)
Total intangibles	(1,399,027)		(1,402,124)		(1,405,222)		(1,408,319)		(1,411,416)
Tangible common stockholders' equity	$     2,082,832		$     2,035,610		$     2,014,018		$     1,945,644		$     2,137,794
Shares of common stock outstanding	144,442,482		145,058,331		144,762,817		144,703,075		125,996,248
Book value per common share	$            24.11		$            23.70		$            23.62		$            23.18		$            28.17
Tangible book value per common share	$            14.42		$            14.03		$            13.91		$            13.45		$            16.97
Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits
Uninsured deposits at Simmons Bank	$     7,213,361		$     7,385,688		$     9,640,677		$     9,565,766		$     8,407,847
Less: Collateralized deposits (excluding portion that is FDIC insured)	2,385,340		2,509,728		2,363,327		2,169,362		2,691,215
Less: Intercompany eliminations	324,404		432,795		2,729,191		2,937,147		1,121,932
Total uninsured, non-collateralized deposits	$     4,503,617		$     4,443,165		$     4,548,159		$     4,459,257		$     4,594,700
FHLB borrowing availability	$     5,412,000		$     5,831,000		$     5,999,000		$     6,134,000		$     5,133,000
Unpledged securities	1,488,000		1,571,000		1,480,000		1,575,000		3,697,000
Fed funds lines, Fed discount window and
Bank Term Funding Program (1)	1,953,000		1,595,000		1,836,000		1,824,000		1,894,000
Additional liquidity sources	$     8,853,000		$     8,997,000		$     9,315,000		$     9,533,000		$   10,724,000
Uninsured, non-collateralized deposit coverage ratio	2.0		2.0		2.0		2.1		2.3

(1) The Bank Term Funding Program closed for new loans on March 11, 2024. At no time did Simmons borrow funds under this program.

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Calculation of Adjusted Return on Average Assets & Average Tangible Assets
Net income (loss)	$             66,691		$             68,544		$             78,078		$          (562,792)		$             54,773
Amortization of intangibles, net of taxes	2,287		2,288		2,288		2,287		2,289
Total adjusted tangible net income (non-GAAP)	$             68,978		$             70,832		$             80,366		$          (560,505)		$             57,062
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		-		570		-
FDIC Deposit Insurance special assessment	-		(1,984)		-		-		-
Certain professional services	-		1,200		-		-		-
Severance/early retirement program costs	1,320		283		-		305		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		-		801,492		-
Branch/real estate rightsizing costs, net	6,099		531		85		2,004		163
Tax effect of certain items (1)	(1,939)		(8)		(318)		(176,649)		(459)
Adjusted earnings (non-GAAP)	72,171		68,566		78,975		64,930		56,071
Amortization of intangibles, net of taxes	2,287		2,288		2,288		2,287		2,289
Total adjusted tangible net income (non-GAAP)	$             74,458		$             70,854		$             81,263		$             67,217		$             58,360
Average total assets	$      24,638,021		$      24,533,005		$      24,254,447		$      24,914,922		$      26,645,131
Average intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangibles	(80,123)		(83,248)		(86,206)		(89,349)		(92,432)
Total average intangibles	(1,400,922)		(1,404,047)		(1,407,005)		(1,410,148)		(1,413,231)
Average tangible assets (non-GAAP)	$      23,237,099		$      23,128,958		$      22,847,442		$      23,504,774		$      25,231,900
Return on average assets	1.09 %		1.13 %		1.28 %		-8.96 %		0.82 %
Adjusted return on average assets (non-GAAP)	1.17 %		1.13 %		1.29 %		1.03 %		0.84 %
Return on average tangible assets (non-GAAP)	1.19 %		1.24 %		1.40 %		-9.46 %		0.91 %
Adjusted return on average tangible assets (non-GAAP)	1.29 %		1.24 %		1.41 %		1.13 %		0.93 %
Calculation of Return on Tangible Common Equity
Net income (loss)  available to common stockholders	$             66,691		$             68,544		$             78,078		$          (562,792)		$             54,773
Amortization of intangibles, net of taxes	2,287		2,288		2,288		2,287		2,289
Total income available to common stockholders	$             68,978		$             70,832		$             80,366		$          (560,505)		$             57,062
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		-		570		-
FDIC Deposit Insurance special assessment	-		(1,984)		-		-		-
Certain professional services	-		1,200		-		-		-
Severance/early retirement program costs	1,320		283		-		305		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		-		801,492		-
Branch/real estate rightsizing costs, net	6,099		531		85		2,004		163
Tax effect of certain items (1)	(1,939)		(8)		(318)		(176,649)		(459)
Adjusted earnings (non-GAAP)	72,171		68,566		78,975		64,930		56,071
Amortization of intangibles, net of taxes	2,287		2,288		2,288		2,287		2,289
Total adjusted earnings available to common stockholders (non-GAAP)	$             74,458		$             70,854		$             81,263		$             67,217		$             58,360
Average common stockholders' equity	$        3,478,531		$        3,470,260		$        3,410,017		$        3,368,308		$        3,546,163
Average intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangibles	(80,123)		(83,248)		(86,206)		(89,349)		(92,432)
Total average intangibles	(1,400,922)		(1,404,047)		(1,407,005)		(1,410,148)		(1,413,231)
Average tangible common stockholders' equity (non-GAAP)	$        2,077,609		$        2,066,213		$        2,003,012		$        1,958,160		$        2,132,932
Return on average common equity	7.69 %		8.01 %		9.08 %		-66.29 %		6.20 %
Return on tangible common equity	13.32 %		13.90 %		15.92 %		-113.56 %		10.73 %
Adjusted return on average common equity (non-GAAP)	8.32 %		8.01 %		9.19 %		7.65 %		6.34 %
Adjusted return on tangible common equity (non-GAAP)	14.37 %		13.91 %		16.10 %		13.62 %		10.97 %

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date (continued)
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)
Noninterest expense (efficiency ratio numerator)	$           147,739		$           140,673		$           139,862		$           142,032		$           138,589
Certain noninterest expense items (non-GAAP)
Severance/early retirement program costs	(1,320)		(283)		-		(305)		(1,594)
FDIC Deposit Insurance special assessment	-		1,984		-		-		-
Certain professional services	-		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(6,099)		(531)		(85)		(2,004)		(163)
Other real estate and foreclosure expense adjustment	(695)		(315)		(432)		(200)		(216)
Amortization of intangibles adjustment	(3,097)		(3,097)		(3,097)		(3,097)		(3,098)
Adjusted efficiency ratio numerator	$           136,528		$           137,231		$           135,118		$           136,426		$           133,518
Net interest income	$           200,627		$           197,168		$           197,296		$           186,661		$           171,824
Noninterest income	47,939		44,197		51,708		(756,187)		42,354
Fully tax-equivalent adjustment (2)	3,029		3,012		2,890		3,811		6,422
Efficiency ratio denominator	251,595		244,377		251,894		(565,715)		220,600
Certain noninterest income items (non-GAAP)
Loss on early extinguishment of debt	-		-		-		570		-
(Gain) loss on sale of securities	-		-		-		801,492		-
Adjusted efficiency ratio denominator	$           251,595		$           244,377		$           251,894		$           236,347		$           220,600
Efficiency ratio (1)	58.72 %		57.56 %		55.52 %		-25.11 %		62.82 %
Adjusted efficiency ratio (non-GAAP) (1)	54.26 %		56.16 %		53.64 %		57.72 %		60.52 %
Calculation of Total Revenue and Adjusted Total Revenue
Net interest income	$           200,627		$           197,168		$           197,296		$           186,661		$           171,824
Noninterest income	47,939		44,197		51,708		(756,187)		42,354
Total revenue	248,566		241,365		249,004		(569,526)		214,178
Certain items, pre-tax (non-GAAP)
Plus: Loss on early extinguishment of debt	-		-		-		570		-
Less: Gain (loss) on sale of securities	-		-		-		(801,492)		-
Adjusted total revenue	$           248,566		$           241,365		$           249,004		$           232,536		$           214,178
Calculation of Pre-Provision Net Revenue (PPNR)
Net interest income	$           200,627		$           197,168		$           197,296		$           186,661		$           171,824
Noninterest income	47,939		44,197		51,708		(756,187)		42,354
Total revenue	248,566		241,365		249,004		(569,526)		214,178
Less: Noninterest expense	147,739		140,673		139,862		142,032		138,589
Pre-Provision Net Revenue (PPNR)	$           100,827		$           100,692		$           109,142		$          (711,558)		$             75,589
Calculation of Adjusted Pre-Provision Net Revenue
Pre-Provision Net Revenue (PPNR)	$           100,827		$           100,692		$           109,142		$          (711,558)		$             75,589
Certain items, pre-tax (non-GAAP)
Plus: Loss on early extinguishment of debt	-		-		-		570		-
Plus: Loss (gain) on sale of securities	-		-		-		801,492		-
Plus: FDIC Deposit Insurance special assessment	-		(1,984)		-		-		-
Plus: Certain professional services	-		1,200		-		-		-
Plus: Severance/early retirement program costs	1,320		283		-		305		1,594
Plus: Termination of vendor and software services	-		-		12		-		-
Plus: Loss on sale of Equipment Finance business	-		-		1,118		-		-
Plus: Branch/real estate rightsizing costs, net	6,099		531		85		2,004		163
Adjusted Pre-Provision Net Revenue	$           108,246		$           100,722		$           110,357		$             92,813		$             77,346

(1) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent} and noninterest revenues.  Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest income (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Calculation of Adjusted Return on Average Assets & Average Tangible Assets
Net income (loss)	$           135,235		$             68,544		$          (397,553)		$          (475,631)		$             87,161
Amortization of intangibles, net of taxes	4,575		2,288		9,469		7,181		4,894
Total adjusted tangible net income (non-GAAP)	$           139,810		$             70,832		$          (388,084)		$          (468,450)		$             92,055
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		570		570		-
FDIC Deposit Insurance special assessment	(1,984)		(1,984)		-		-		-
Certain professional services	1,200		1,200		-		-		-
Severance/early retirement program costs	1,603		283		1,899		1,899		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		801,492		801,492		-
Branch/real estate rightsizing costs, net	6,630		531		3,246		3,161		1,157
Tax effect of certain items (1)	(1,947)		(8)		(177,686)		(177,368)		(719)
Adjusted earnings (non-GAAP)	140,737		68,566		233,098		154,123		89,193
Amortization of intangibles, net of taxes	4,575		2,288		9,469		7,181		4,894
Total adjusted tangible net income (non-GAAP)	$           145,312		$             70,854		$           242,567		$           161,304		$             94,087
Average total assets	$      24,585,803		$      24,533,005		$      25,614,700		$      26,073,100		$      26,661,787
Average intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangibles	(81,677)		(83,248)		(90,913)		(92,499)		(94,100)
Total average intangibles	(1,402,476)		(1,404,047)		(1,411,712)		(1,413,298)		(1,414,899)
Average tangible assets (non-GAAP)	$      23,183,327		$      23,128,958		$      24,202,988		$      24,659,802		$      25,246,888
Return on average assets	1.11 %		1.13 %		-1.55 %		-2.44 %		0.66 %
Adjusted return on average assets (non-GAAP)	1.15 %		1.13 %		0.91 %		0.79 %		0.67 %
Return on average tangible assets (non-GAAP)	1.22 %		1.24 %		-1.60 %		-2.54 %		0.74 %
Adjusted return on average tangible assets (non-GAAP)	1.26 %		1.24 %		1.00 %		0.87 %		0.75 %
Calculation of Return on Tangible Common Equity
Net income (loss)  available to common stockholders	$           135,235		$             68,544		$          (397,553)		$          (475,631)		$             87,161
Amortization of intangibles, net of taxes	4,575		2,288		9,469		7,181		4,894
Total income available to common stockholders	$           139,810		$             70,832		$          (388,084)		$          (468,450)		$             92,055
Certain items (non-GAAP)
Loss on early extinguishment of debt	-		-		570		570		-
FDIC Deposit Insurance special assessment	(1,984)		(1,984)		-		-		-
Certain professional services	1,200		1,200		-		-		-
Severance/early retirement program costs	1,603		283		1,899		1,899		1,594
Termination of vendor and software services	-		-		12		-		-
Loss on sale of Equipment Finance business	-		-		1,118		-		-
Loss (gain) on sale of securities	-		-		801,492		801,492		-
Branch/real estate rightsizing costs, net	6,630		531		3,246		3,161		1,157
Tax effect of certain items (1)	(1,947)		(8)		(177,686)		(177,368)		(719)
Adjusted earnings (non-GAAP)	140,737		68,566		233,098		154,123		89,193
Amortization of intangibles, net of taxes	4,575		2,288		9,469		7,181		4,894
Total adjusted earnings available to common stockholders (non-GAAP)	$           145,312		$             70,854		$           242,567		$           161,304		$             94,087
Average common stockholders' equity	$        3,474,419		$        3,470,260		$        3,471,531		$        3,492,261		$        3,555,265
Average intangible assets:
Goodwill	(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)		(1,320,799)
Other intangibles	(81,677)		(83,248)		(90,913)		(92,499)		(94,100)
Total average intangibles	(1,402,476)		(1,404,047)		(1,411,712)		(1,413,298)		(1,414,899)
Average tangible common stockholders' equity (non-GAAP)	$        2,071,943		$        2,066,213		$        2,059,819		$        2,078,963		$        2,140,366
Return on average common equity	7.85 %		8.01 %		-11.45 %		-18.21 %		4.94 %
Return on tangible common equity	13.61 %		13.90 %		-18.84 %		-30.13 %		8.67 %
Adjusted return on average common equity (non-GAAP)	8.17 %		8.01 %		6.71 %		5.90 %		5.06 %
Adjusted return on tangible common equity (non-GAAP)	14.14 %		13.91 %		11.78 %		10.37 %		8.86 %

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

 

Simmons First National Corporation									SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2026		2026		2025		2025		2025
($ in thousands)
Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)
Noninterest expense (efficiency ratio numerator)	$           288,412		$           140,673		$           565,063		$           425,201		$           283,169
Certain noninterest expense items (non-GAAP)
Severance/early retirement program costs	(1,603)		(283)		(1,899)		(1,899)		(1,594)
FDIC Deposit Insurance special assessment	1,984		1,984		-		-		-
Certain professional services	(1,200)		(1,200)		-		-		-
Termination of vendor and software services	-		-		(12)		-		-
Loss on sale of Equipment Finance business	-		-		(1,118)		-		-
Branch/real estate rightsizing costs	(6,630)		(531)		(3,246)		(3,161)		(1,157)
Other real estate and foreclosure expense adjustment	(1,003)		(308)		(1,046)		(614)		(414)
Amortization of intangibles adjustment	(6,194)		(3,097)		(12,819)		(9,722)		(6,625)
Adjusted efficiency ratio numerator	$           273,766		$           137,238		$           544,923		$           409,805		$           273,379
Net interest income	$           397,795		$           197,168		$           719,203		$           521,907		$           335,246
Noninterest income	92,136		44,197		(615,970)		(667,678)		88,509
Fully tax-equivalent adjustment (2)	6,041		3,012		19,537		16,647		12,836
Efficiency ratio denominator	495,972		244,377		122,770		(129,124)		436,591
Certain noninterest income items (non-GAAP)
Loss on early extinguishment of debt	-		-		570		570		-
(Gain) loss on sale of securities	-		-		801,492		801,492		-
Adjusted efficiency ratio denominator	$           495,972		$           244,377		$           924,832		$           672,938		$           436,591
Efficiency ratio (1)	58.15 %		57.56 %		460.26 %		-329.30 %		64.86 %
Adjusted efficiency ratio (non-GAAP) (1)	55.20 %		56.16 %		58.92 %		60.90 %		62.62 %

(1) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent) and noninterest revenues.  Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest ncome (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

 

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SOURCE Simmons First National Corporation

FAQ

How did Simmons First National (SFNC) perform in 2Q26 earnings?

Simmons reported 2Q26 net income of $66.7 million and diluted EPS of $0.46. According to Simmons, adjusted net income was $72.2 million with adjusted diluted EPS of $0.50, reflecting higher revenue, stable net interest margin, and ongoing efficiency initiatives.

What were Simmons First National’s key revenue and margin metrics for 2Q26 (SFNC)?

Simmons generated $248.6 million in total revenue and $100.8 million in PPNR in 2Q26. According to Simmons, net interest income was $200.6 million, and net interest margin on a fully taxable equivalent basis held at 3.84%, up 78 basis points year over year.

How did loans and deposits trend for Simmons First National (SFNC) in 2Q26?

Total loans reached $18.1 billion, up 3% annualized from 1Q26 and 6% year over year. According to Simmons, total deposits declined to $19.7 billion, with noninterest-bearing deposits at $4.4 billion and interest-bearing deposits at $15.4 billion.

What was Simmons First National’s asset quality like in 2Q26 (SFNC)?

Simmons reported a net charge-off ratio of 0.20% and provision for credit losses of $17.4 million in 2Q26. According to Simmons, provision exceeded net charge-offs by $8.3 million, and the allowance for credit losses to loans ratio increased to 1.32%.

Did Simmons First National (SFNC) return capital to shareholders in 2Q26?

Yes. Simmons declared a quarterly cash dividend of $0.215 per share in 2Q26 and repurchased 0.7 million shares. According to Simmons, these capital returns occurred alongside strong capital ratios, including an equity-to-assets ratio of 14.05%.

How did expenses and efficiency change for Simmons First National (SFNC) in 2Q26?

Noninterest expense was $147.7 million in 2Q26, including $7.4 million of restructuring-related items. According to Simmons, adjusted noninterest expense was $140.3 million, and the adjusted efficiency ratio improved to 54.26% compared with 56.16% in 1Q26.

What were Simmons First National’s key capital and profitability ratios in 2Q26 (SFNC)?

Simmons reported 2Q26 ROAA of 1.09% and ROE of 7.69%, with adjusted ROAA at 1.17%. According to Simmons, the equity-to-assets ratio was 14.05%, CET1 ratio 11.60%, and tangible common equity ratio 8.91%, indicating solid regulatory capital levels.