Simmons First National Corp 8-K, filed Jul 16, 2026
Simmons First National Corp (SFNC)
About this 8-K
Simmons First National Corp filed this 8-K on July 16, 2026.
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
| (Address of principal executive offices) | (Zip Code) | |||
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition. |
On July 16, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information provided pursuant to this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933 (“Securities Act”) or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 7.01 | Regulation FD Disclosure. |
On July 16, 2026, the Registrant issued an investor presentation, a copy of which is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
The information provided pursuant to this Item 7.01, including Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit 99.1 | Press Release dated July 16, 2026 | |
| Exhibit 99.2 | Investor Presentation issued on July 16, 2026 | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SIMMONS FIRST NATIONAL CORPORATION | ||||||
| /s/ C. Daniel Hobbs | ||||||
| Date: July 16, 2026 | C. Daniel Hobbs, Executive Vice President and | |||||
| Chief Financial Officer | ||||||
Exhibit 99.1
July 16, 2026
Simmons First National Corporation Reports Second Quarter Results
| 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 on avg. 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.
FOR MORE INFORMATION CONTACT:
Ed Bilek, EVP, Director of Investor and Media Relations
ed.bilek@simmonsbank.com
205.612.3378 (cell)
| Simmons First National Corporation | SFNC | |
| Consolidated End of Period Balance Sheets For the Quarters Ended (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Page 1
| Simmons First National Corporation | SFNC | |
| Consolidated Statements of Income - Quarter-to-Date | ||
| For the Quarters Ended (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Page 2
| Simmons First National Corporation | SFNC | |
| Consolidated Risk-Based Capital | ||
| For the Quarters Ended (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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. |
Page 3
| Simmons First National Corporation | SFNC | |
| Consolidated Investment Securities | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Page 4
| Simmons First National Corporation | SFNC | |
| Consolidated Loans For the Quarters Ended (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Page 5
| Simmons First National Corporation | SFNC | |
| Consolidated Allowance and Asset Quality | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | % | ||||||||||
Page 6
| 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 | % | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Page 7
| Simmons First National Corporation | SFNC | |
| Consolidated - Selected Financial Data | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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. |
Page 8
| Simmons First National Corporation | SFNC | |
| Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Quarter-to-Date | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
Page 9
| Simmons First National Corporation | SFNC | |||
| Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Year-to-Date For the Quarters Ended (Unaudited) |
| Jun 30 2026 |
Mar 31 2026 |
Dec 31 2025 |
Sep 30 2025 |
Jun 30 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 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
Page 10
| Simmons First National Corporation | SFNC | |
| Reconciliation Of Non-GAAP Financial Measures - End of Period | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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. |
Page 11
| Simmons First National Corporation | SFNC | |
| Reconciliation Of Non-GAAP Financial Measures – Quarter-to-Date | ||
| For the Quarters Ended | ||
| (Unaudited) |
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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. |
Page 12
| Simmons First National Corporation | SFNC | |
| Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date (continued) | ||
| For the Quarters Ended | ||
| (Unaudited) | ||
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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. |
Page 13
| Simmons First National Corporation | SFNC | |||
| Reconciliation Of Non-GAAP Financial Measures - Year-to-Date |
| |||
| For the Quarters Ended | ||||
| (Unaudited) | ||||
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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. |
Page 14
| Simmons First National Corporation |
SFNC | |
| Reconciliation Of Non-GAAP Financial Measures - Year-to-Date |
||
| For the Quarters Ended |
||
| (Unaudited)
|
| Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | ||||||||||||||||
| 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 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. |
Page 15
Exhibit 99.2 Nasdaq SFNC nd 2 Quarter 2026 Earnings Presentation July 16, 2026
Company Overview Simmons First National Corporation A Mid-South based financial holding company serving our $24.8 $19.7 customers and the communities where we work and live since 1903 BILLION BILLION TOTAL ASSETS TOTAL DEPOSITS $10.4 $18.1 CONSECUTIVE YEARS 3 117 PAYING DIVIDENDS BILLION BILLION ASSETS UNDER TOTAL LOANS MANAGEMENT/ ADMINISTRATION YEARS OF SERVICE 123 14.35% 8.91% 1 TOTAL RBC RATIO TCE RATIO FINANCIAL CENTERS 220 ACROSS SIX STATES 3.8% 92% 2 DIVIDEND YIELD LOAN TO DEPOSIT RATIO 1.32% 0.20% ACL TO TOTAL NET CHARGE-OFF LOANS RATIO Figures presented on this slide are as of June 30, 2026, unless otherwise noted 2 1 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations 2 Based on July 9, 2026, closing stock price of $22.72 and annualized dividend rate of $0.86 per share 3 The future payment of dividends is not guaranteed and is subject to various factors, including approval by the Company’s board of directors
2Q26 Financial Highlights 3
2Q26 Highlights 1 ❑ On track to deliver double-digit PPNR growth in 2026 1 1 Reported Adjusted ─ Adjusted PPNR growth of 40% year-over-year ─ Balanced revenue growth led by an 8% increase in noninterest income 2 ─ Stable net interest margin of 3.84%; cost of deposits declined 3 bps Net income $66.7M $72.2M 1 ─ Adjusted noninterest expense down slightly on a linked quarter basis 1 EPS (diluted) $0.46 $0.50 ─ Adjusted efficiency ratio improved to 54.26%, down 190 bps ❑ Balance Sheet ROAA 1.09% 1.17% ─ 3% annualized linked quarter increase in total loans; up 7% annualized in 1H26 ─ 6% annualized linked quarter increase in noninterest bearing deposits Revenue $248.6M $248.6M ❑ Credit quality 1 ─ Net charge-offs of 20 bps PPNR $100.8M $108.2M ─ Provision expense exceeded net charge-offs by $8.3 million; ACL ratio at 1.32% 2 NIM 3.84% ─ Loans past due 30-89 days declined 22 bps on a linked quarter basis ─ Classified and criticized loans continued to reflect positive migration trends NCO ratio 20 bps ─ Linked quarter increase in NPLs reflects fully migrated single real estate construction relationship previously disclosed in 1Q26 ACL ratio 1.32% ❑ Strong Capital Position ─ $14.2 million of shares repurchased during the quarter ─ CET1 ratio at 11.60%, up 2 bps Comparisons on this page are 2Q26 vs 1Q26, unless otherwise noted 1 Non-GAAP measures that management believes aid in the discussion of results. See Appendix for Non-GAAP reconciliations 2 Net interest margin (NIM) is presented on a fully taxable equivalent (FTE) basis using an effective tax rate of 26.135% 4
Income Statement Highlights 2 2 Net Interest Income Adjusted Total Revenue Adjusted PPNR $ in millions $ in millions $ in millions +16% +17% +40% $249.0 $248.6 $200.6 $110.4 $108.2 $197.3 $197.2 $241.4 $100.7 $232.5 $92.8 $186.7 $214.2 $77.3 $171.8 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 1 NIM 3.06% 3.84% 3.84% 3.50% 3.81% 2 2 2 Adjusted NIE Adjusted Net Income Adjusted Diluted EPS $ in millions $ in millions +29% +14% +3% $79.0 $0.54 $72.2 $0.50 $68.6 $64.9 $140.6 $0.47 $140.3 $0.46 $139.7 $0.44 $56.1 $138.6 $136.8 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 PPNR – Pre-provision net revenue NIE – Noninterest Expense 5 EPS – Earnings per Share 1 Net interest margin (NIM) is presented on a fully taxable equivalent (FTE) basis using an effective tax rate of 26.135% 2 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations
Net Interest Margin (FTE) 1 1 Net Interest Margin Net Interest Margin Evolution FTE (%) FTE +78 bps 2 bps 2 bps 3.84% 3.84% 3.81% 3.84% 3.84% (1) bp 3.50% (3) bps 3.06% Loan Day 2Q26 1Q26 Funding Hedges/ Yield Rate Count Other 2Q25 3Q25 4Q25 1Q26 2Q26 Select Yields/Rates FTE (%) Commentary 6.31 6.26 6.23 6.16 6.15 ❑ Favorable repricing of fixed-rate loans continues to be a tailwind 4.30 4.26 ❑ Deposit costs down 3 bps from 1Q26 levels aided by a 4% annualized 4.25 4.01 3.48 linked quarter increase in average noninterest bearing deposits ❑ Utilization of short-term FHLB advances rather than brokered deposits given favorable pricing 2.36 2.25 2.04 1.96 1.93 ❑ Hedging income of $5.5 million in 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Loan Yield (FTE) Securities (FTE) Cost of Deposits 1 Net interest margin (NIM) is presented on a fully taxable equivalent (FTE) basis using an effective tax rate of 26.135% 6
Noninterest Income 1 1 2Q26 Adjusted 2Q26 vs Adjusted 1 $ in millions Reported 1Q26 2Q25 Adjusted Commentary Service charges on deposit accounts $ 12.3 $ 12.3 $(0.3) ( 3) % $(0.3) ( 2) % ❑ Linked quarter increase primarily driven by: Wealth management fees 10.2 1 0.2 ( 0.3) ( 3) 0.8 8 • $0.5M increase in debit and credit card fees Debit and credit card fees 9.0 9.0 0 .5 6 0.4 5 • $0.4M increase in swap fee income Mortgage lending income 2 .0 2.0 0.1 8 0.3 18 • Increase in “other” income primarily due to $1.1M positive SBIC valuation adjustment Bank owned life insurance 4 .2 4.2 - - 0.3 8 Swap fee income 2 .2 2.2 0.4 24 1.3 155 Other service charges and fees 1 .6 1.6 ( 0.1) ( 3) 0.2 17 Other 6 .4 6.4 3.3 108 2.4 61 Total noninterest income $ 47.9 $ 47.9 $ 3.7 8 % $ 5.6 13 % 1 Adjusted Total Revenue Per Employee Adjusted Noninterest Income Adjusted PPNR per Avg. Diluted Share 1 1 (FTE) to Adjusted Total Revenue +21% ($ in thousands) 20.8% $0.76 $0.74 $85.4 19.8% $85.5 19.7% $82.9 19.3% $0.69 $80.7 $0.66 18.3% $0.61 $72.7 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Totals may not foot due to rounding FTE – Full-time equivalent 7 1 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations
Noninterest Expense 1 1 2Q26 Adjusted 2Q26 vs Adjusted Commentary 1 $ in millions Reported 1Q26 2Q25 1 Adjusted ❑ Adjusted efficiency ratio improves 626 bps year-over- year to 54.26% Salaries and employee benefits $ 75.6 $ 74.3 $(1.3) (2) % $ 2.0 3 % ❑ Continuation of efficiency initiatives more than funding ongoing business investments Occupancy expense, net 14.7 11.0 (0.9) (7) (0.4) (4) • Eliminated 39 positions resulting in $1.3 million of severance costs Furniture and equipment 5.7 5.7 0.3 6 0.3 5 • Exited or optimized 4 corporate/branch locations Deposit insurance 4.5 4.5 0.2 4 (0.5) (9) resulting in ~53,000 square foot reduction, or 2.1% of total real estate footprint; $6.1 million one-time costs OREO and foreclosure expense 0.7 0.7 0.4 126 0.5 222 • ~8.6% reduction in total square footage since the beginning of 2025 Other 46.6 44.2 1.0 2 1.6 4 • <1 year estimated earnback from combined 2Q26 Total noninterest expense $147.7 $140.3 $(0.3) - % $ 3.5 3 % initiatives 1 Adjusted Efficiency Ratio Employees (FTE) # of Financial Centers 626 bp improvement 2,947 223 223 222 221 2,917 220 2,913 60.52% 2,909 57.72% 2,883 56.16% 54.26% 53.64% 190 bps 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Note: Numbers may not add due to rounding FTE – full-time equivalent 8 1 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations
Deposits, Interest Rate Sensitivity, Hedging Program and Capital 9
Deposits Deposit Mix $ in billions; Period End Balances 63% interest bearing Evolution of Funding Rates 1 deposit beta since 2Q24 $19.8 $20.2 $21.8 $20.2 $19.7 5.33% 9.3% 9.4% 9.2% 5.27% 9.5% 14.8% 4.66% 12.5% 13.4% 14.2% 13.8% 4.33% 4.33% 4.30% 13.5% Customer 3.90% 3.64% 3.63% 14.7% 14.0% 13.2% 3.53% 3.52% 13.3% 3.28% 13.4% Deposits 3.05% 2.97% 2.86% 2.62% 2.47% 2.46% 90.8% 41.4% 41.7% 2.79% 2.79% 41.8% 41.8% 2.60% 37.8% 2.44% 2.36% 2.25% 2.04% 1.96% 1.93% Interest Bearing Deposits Cost of Deposits Avg Fed Funds Rate 22.1% 21.5% 21.2% 22.1% 20.5% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest Bearing Interest Bearing Transaction Accounts Time Deposits Public Funds (interest bearing) Brokered Deposits 2 Linked Quarter Deposit Change $ in millions; Period End Balances Commentary ❑ Continued to effectively manage deposit costs, reflected by 3 bps decrease Total Deposits $(475) on a linked quarter basis Noninterest Bearing Transaction Accounts $70 ❑ 6% annualized linked quarter increase in noninterest bearing deposits Interest Bearing Transaction and Savings Accounts $(154)❑ Decrease in public funds reflects normal seasonality ❑ Decrease in time deposits reflects continued, planned run-off of non- Time Deposits $(82) relationship CDs or subsequent reinvestment into lower cost deposits Public Funds (interest bearing) $(201) ❑ Reduced utilization of brokered deposits given favorable FHLB pricing Brokered (MM & CDs) and Other Non-Customer Deposits $(108) ❑ ~77% of deposits are FDIC insured or are collateralized deposits Totals may not add due to rounding Source: Average Fed Funds rate based on data from www.macrotrends.net 10 1 Deposit beta calculated as change in cost of deposits from 2Q24 to 2Q26 divided by the change in quarterly average Federal Funds Effective rate for 2Q24 vs 2Q26 2 Linked quarter change is 2Q26 vs 1Q26
Interest Rate Sensitivity CD Maturities (over the next 12 months) Loan Portfolio – Repricing and Maturity (contractual) $ in millions At June 30, 2026 $ in millions Weighted Average Rates Repricing Term Rate Structure 3 mo 3-12 1-3 3-5 Over 5 3.38% 3.91% 3.10% 3.86% 3.02% 3.71% 2.72% Total Variable Fixed or less mo years years years $1,715.3 RE - Construction $ 2,285.0 $ 139.0 $ 72.4 $ 75.1 $ 6.1 $ 2,577.6 $ 2,189.2 $ 388.4 RE - Commercial 4,767.2 1,438.3 1,439.2 711.8 472.3 8,828.8 4,709.6 4,119.2 RE - Single-Family 753.0 324.9 475.4 373.8 637.3 2,564.3 1,451.1 1,113.2 $794.1 $776.6 Commercial (C&I) 1,714.9 159.8 284.1 281.1 76.7 2,516.6 1,720.7 795.9 $375.2 $211.8 $128.7 $88.8 Consumer 207.1 14.9 36.7 7.5 7.0 273.3 203.3 70.0 1 Other 824.0 31.1 40.3 37.4 369.1 1,301.8 796.3 505.6 3Q26 4Q26 1Q27 2Q27 Total $ 10,551.1 $ 2,108.0 $ 2,348.0 $ 1,486.7 $ 1,568.5 $ 18,062.4 $ 11,070.1 $ 6,992.3 Customer CDs Brokered CDs 2 6.57% 4.96% 6.17% 6.48% 4.78% 6.15% 6.57% 5.54% Weighted average rate Note: Weighted average rates in the table above are based on contractual repricing and maturity. Does not include the impact of Hedging Program summarized on Slide 12 Balance Sheet Interest Rate Sensitivity Over the next 12 months (estimated) Additional Interest Rate Sensitivity Factors Change in Interest Rates % Impact on Net Interest Income 3 ❑ ~$83 million of projected securities principal maturities per quarter Up 50 bps 0.7% ❑ ~$2.6 billion of loans with a weighted average rate of less than 4% repricing over the next three years; ~$1.8 billion of which reprices in the next twelve months 4 Up 25 bps 0.4% ❑ ~27% of customer interest bearing deposits are tied to index rates, principally Fed Funds target rate Down 25 bps (0.8)% Assumes an immediate, parallel change in interest rates and static balance sheet as of June 30, 2026. Totals may not add due to rounding 1 Other includes agriculture, mortgage warehouse and other loans 11 2 Weighted average rates do not include mortgage warehouse and credit card portfolios 3 Projections over the next 12 months assuming a static balance sheet as of June 30, 2026 4 Customer interest bearing deposits includes savings, money market, checking and customer CDs. Does not include brokered deposits
Hedging Program 1 Estimated Future Swap Income Hedging Program Update $ in millions; Based on forward rates ❑ No additional hedging instruments added during 2Q26 $4.9 $3.9❑ Net interest income (NII) sensitivity remains slightly asset sensitive $3.8 $3.6 $3.5 ❑ Hedging strategy designed to manage interest rate risk position to slightly asset sensitive 3Q26 4Q26 1Q27 2Q27 3Q27 $ in Millions Quarterly Average (Notional) Annual Average (Notional) Hedged Item Quarter Initiated Rate Protection 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 2027 2028 2029 2030 Variable rate loans 3Q25 Down rate $ 1,000.0 $ 1,000.0 $ 1,000.0 $ 1,000.0 $ 1,000.0 $ 1,000.0 $ 1,000.0 $ 899.6 $ 209.6 $ - Variable rate CMBS 3Q25 Down rate 300.0 260.9 200.0 200.0 200.0 123.9 130.4 - - - Subordinated debt 3Q25 Down rate 325.0 325.0 325.0 325.0 325.0 325.0 325.0 325.0 325.0 244.0 Fixed rate munis 3Q21 Up rate 1,001.7 1,001.7 1,001.7 1,001.7 1,001.7 1,001.7 1,001.7 937.2 54.2 - Net Asset Swap Position (up rate - down rate) $ 623.3 $ 584.2 $ 523.3 $ 523.3 $ 523.3 $ 447.2 $ 453.7 $ 287.4 $ 480.4 $ 244.0 Quarterly Fixed Rate Annual Fixed Rate Hedged Item Receive Pay 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 2027 2028 2029 2030 Variable rate loans Fixed SOFR based 3.24% 3.24% 3.24% 3.24% 3.24% 3.24% 3.24% 3.26% 3.22% - Variable rate CMBS Fixed SOFR based 3.82% 3.53% 3.07% 3.07% 3.07% 3.07% 3.07% - - - Subordinated debt Fixed SOFR based 3.56% 3.56% 3.07% 3.07% 3.07% 3.07% 3.07% 3.07% 3.07% 3.07% Fixed rate munis Fed effective Fixed 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.22% - Totals may not add due to rounding 1 Estimated swap income based on implied forward rates as of June 30, 2026. Does not include potential impact of hedge ineffectiveness that is recorded in interest income. 12
Capital: Focused on maintaining a strong capital position 1 1 CET 1 Capital Ratio Tier 1 Leverage Ratio 12.36% 10.14% 10.06% 10.20% 11.63% 11.58% 9.96% 11.54% 11.60% 9.56% Commentary 9.87% 8.17% ❑ Share Repurchase Program Adj. ▪ Repurchased approximately 0.7 million shares Reported HTM during 2Q26 at an average price of $21.52 2,3 Loss ▪ Remaining authorization under 2026 Program of approximately $161 million 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 WELL CAPITALIZED WELL CAPITALIZED 5.0% 6.5% 1 1 Total Risk-Based Capital Ratio Capital Ratios (at 6/30/26) Tier 1 Risk-Based Capital Ratio 15.07% 14.35% 14.45% 14.42% 14.36% 12.36% Equity to Assets 11.54% 11.63% 11.58% 11.60% 14.1% 12.03% 9.87% 2 Tangible Common Equity Ratio 8.9% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 WELL CAPITALIZED WELL CAPITALIZED 8.0% 10.0% 1 2Q26 data as of June 30, 2026, 1Q26 data as of March 31, 2026, 4Q25 data as of December 31, 2025, 3Q25 data as of September 30, 2025, and 2Q25 data as of June 30, 2025 2 Non-GAAP measures that management believes aid in the discussion of results. See Appendix for Non-GAAP reconciliations 13 3 Black bars in each of the graphs above represent the respective capital ratio adjusted for the loss on held-to-maturity securities prior to the balance sheet repositioning that occurred in 3Q25, which are Non-GAAP metrics. See footnote #2
Loan Portfolio and Credit Quality 14
Loans: Well-diversified, granular portfolio and conservative credit culture Loan Portfolio Waterfall Linked Quarter Change by Loan Type $ in millions $ in millions Total Loans $129 $2,469 $147 $18,062 $17,933 RE – Commercial $64 $(2,487) RE – Construction $(44) 1 Funded loans Paydowns/ Other /advances payoffs Commercial (C&I) $(4) RE – Single Family $(2) Consumer & Other $27 Agricultural $92 Total loans Total loans Mortgage Warehouse $(4) at 3/31/26 at 6/30/26 Unfunded Commitments Commentary $ in millions ❑ Total loans at $18.1 billion, up 3% on a linked quarter annualized basis RE - Construction C&I RE - Single Family RE - Commercial Agriculture Consumer/Other ❑ Funded balances grew late in the quarter, with period-end total loans $106 million higher than 2Q26 average total loans $4,384 $4,068 $3,947 $3,955 $3,871 ❑ Largest quarterly committed loan production in almost 4 years with $1.8 billion in commitments, driving an 8% linked quarter increase in unfunded 94% variable rate commitments • 55% tied to Prime • 45% tied to SOFR ❑ Well-diversified, granular portfolio with no significant industry or geographic concentrations 2Q25 3Q25 4Q25 1Q26 2Q26❑ No significant direct exposure to software/technology firms ❑ Minimal exposure to Shared National Credits (SNC) at ~1% of total loans 1 “Other” includes linked quarter change associated with loan portfolios impacted by seasonality (agricultural, mortgage warehouse and credit cards) 15
Pipelines: Solid supply of opportunities that meet disciplined credit appetite and pricing Commercial Loan Pipeline by Category $ in millions Opportunity Proposal Ready to Close $1,815 $1,631 $1,611 $1,559 $1,538 Commentary $1,428 $757 $1,265 $490 ❑ Maintaining prudent underwriting standards and pricing $564 $374 $651 discipline $774 $552 ❑ $374 million of ready to close loans in the commercial $196 $249 $292 $436 1 pipeline as of June 30, 2026, with a rate of 6.73% $217 $105 $199 ❑ Mortgage loan originations in 2Q26 ❑ 81% purchase ❑ 19% refinance $514 $809 $775 $685 $659 $691 $858 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Rate Ready to 7.93% 7.39% 7.35% 7.19% 6.53% 6.40% 6.73% 1 Close Mortgage Loan Volume $ in millions Mortgage Closed Loan Volume Mortgage Pipeline Volume $31 $33 $27 $29 $21 $32 $16 $110 $108 $96 $90 $84 $75 $69 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1 Rate ready to close represents the weighted average rate on commercial loans that are ready to close and does not include fees, including FAS 91 fees, associated with those commercial loans 16
Loans: Conservative LTVs underpin prudent underwriting standards in key sectors Office (non-owner occupied permanent) Key Statistics At 6/30/26 Loan Portfolio – Geographic diversification By State By State 10% NPL Ratio 0.33% 1% 2% Past Due 30+ Days 1.72% 17% 9% Average Loan Size $3.2M 31% 52% Median Loan Size $0.5M $1.1B 2% 3% 13% Number of Loans <$1M 62% 4% 1 Average LTV 45.6% $17.5B 13% Weighted Average LTV 54.4% 9% Texas Arkansas Tennessee Missouri Oklahoma Kansas Other Multifamily (permanent) Key Statistics At 6/30/26 20% 14% By State 6% NPL Ratio 0.92% 11% Texas Arkansas Tennessee Missouri Past Due 30+ Days 0.00% 40% 3% Oklahoma Kansas Florida Other 4% Average Loan Size $2.8M $0.8B Median Loan Size $0.5M % of Total % of Total 14% Top 10 MSAs Number of Loans <$1M 69% 1 1 Loans Commitments 22% Average LTV 50.1% Houston-Sugarland-Baytown 8.6% 8.5% Texas Arkansas Tennessee Missouri Oklahoma Kansas Other Weighted Average LTV 61.7% Dallas-Plano-Irving 8.1% 8.2% Little Rock-North Little Rock-Conway 6.6% 7.3% Retail (non-owner occupied permanent) Key Statistics At 6/30/26 Nashville-Davidson-Murfreesboro 5.5% 5.7% By State NPL Ratio 0.47% 15% Memphis 4.6% 4.4% 1% Past Due 30+ Days 0.00% Fayetteville-Springdale-Rogers 3.5% 3.9% 5% 47% Average Loan Size $1.9M Fort Worth-Arlington 3.9% 3.8% 6% $1.0B Median Loan Size $1.0M Kansas City 2.5% 2.6% Number of Loans <$1M 50% 13% St. Louis 2.6% 2.4% Average LTV 47.4% Austin-Round Rock-San Marcos 2.2% 2.1% 13% Weighted Average LTV 55.2% Texas Arkansas Tennessee Missouri Oklahoma Kansas Other Data shown above as of June 30, 2026 1 Total loans or commitments excluding credit card portfolio and mortgage warehouse 17
CLD: Quick recycling of capital given short duration of portfolio Construction and Land Development (CLD) By State % of Total % of Total Key Statistics At 6/30/26 Top 10 MSAs Loans Commitments NPL Ratio 2.15% 19% Dallas-Plano-Irving 11.3% 12.3% Past Due 30+ Days 0.00% Houston-Sugarland-Baytown 11.3% 11.0% 42% Average Loan Size $1.4M Nashville-Davidson-Murfreesboro 7.6% 7.4% Median Loan Size $0.3M 13% Phoenix-Mesa-Glendale 6.9% 6.3% $2.6B Number of Loans <$1M 83% Austin-Round Rock-San Marcos 6.5% 5.1% Average LTV 56.3% 2% Fayetteville-Springdale-Rogers 4.6% 5.6% Weighted Average LTV 52.9% 3% Fort Worth-Arlington 4.2% 3.8% Weighted Average Maturity ~18 months 10% 11% Orlando-Kissimmee-Sanford 4.4% 2.9% Texas Arkansas Tennessee Missouri Little Rock-North Little Rock-Conway 3.9% 4.6% Oklahoma Florida Other Jacksonville, FL 3.3% 3.2% CLD - Industrial Warehouse (non-owner occupied) CLD - Multifamily By State By State Key Statistics At 6/30/26 Key Statistics At 6/30/26 NPL Ratio 0.00% NPL Ratio 0.00% 20% Texas 53% Past Due 30+ Days 0.00% 27% Texas Past Due 30+ Days 0.00% 35% Arkansas Average Loan Size $16.8M Tennessee Average Loan Size $11.1M Tennessee $0.7B $0.4B Median Loan Size $8.4M Missouri Median Loan Size $5.2M 5% Florida 31% Number of Loans <$1M 24% Florida Number of Loans <$1M 42% 6% Other 8% Average LTV 52.2% Other Average LTV 45.1% 9% 6% Weighted Average LTV 50.2% Weighted Average LTV 45.7% Weighted Average Maturity ~13 months Weighted Average Maturity ~16 months Data shown above as of June 30, 2026 18
Loans: Loan portfolio by type and key credit metrics as of March 31, 2026 as of June 30, 2026 % of % of Past Due 30+ Unfunded Unfunded Balance Total Balance Total Days Classified Nonperforming Commitment ACL Commitment $ in millions $ Loans $ Loans $ $ $ $ % Reserve Total Loan Portfolio Credit Card 173 1% 174 1% 3 1 1 - 3.17% - Consumer – Other 96 1% 99 1% 1 - - 41 3.12% 0.45% Real Estate – Construction 2,622 15% 2,578 14% - 58 56 1,991 2.46% 0.99% Real Estate – Commercial 8,765 49% 8,829 49% 36 213 46 327 1.06% 0.27% Real Estate – Single-family 2,566 14% 2,564 14% 10 51 44 336 1.52% 0.71% Commercial (C&I) 2,521 14% 2,517 14% 1 38 19 1,506 1.07% 0.13% Mortgage Warehouse 439 2% 435 2% - - - - 0.19% - Agriculture 334 2% 426 2% - - - 169 0.87% 0.28% Other 417 2% 440 3% 1 - - 14 0.55% 0.20% Total Loan Portfolio 17,933 100% 18,062 100% 52 361 166 4,384 1.32% 0.58% Loan Concentration (Holding Company Level) C&D 89% 86% CRE 286% 280% Select Loan Categories Retail 1,188 7% 1,220 7% - 6 5 117 0.67% 0.68% Nursing / Extended Care 159 1% 158 1% - 46 1 2 8.93% 0.02% Healthcare 527 3% 549 3% - 22 3 133 1.47% 0.47% Multifamily 1,593 9% 1,528 8% - 25 7 665 2.43% 0.34% Hotel 898 5% 969 5% 3 24 4 229 1.09% 1.16% Restaurant 576 3% 575 3% - 15 14 43 1.13% 0.52% NOO Office 1,231 7% 1,188 7% 19 26 12 82 1.66% 0.65% NOO Industrial Warehouse 1,575 9% 1,541 9% - 16 - 529 0.37% 0.17% 1 Non-Depository Financial Institutions (NDFI) 760 4% 835 5% - 1 1 212 0.37% 0.08% 1 NDFI includes mortgage warehouse disclosed in the Total Loan Portfolio table above 19
Credit Quality ACL and ACL to Total Loans Credit Quality Commentary $ in millions 1.75% $275.0❑ Year-to-date net charge-offs of 21 bps; maintain full-year 2026 guidance of ~25 bps 1.50% 1.48% 1.55% ❑ Provision expense exceeded net charge-offs by $8.3M in 2Q26 1.32% 1.28% 1.28% 1.35% $250.0 $258.0 $253.5 ❑ Loans past due 30-89 days declined 22 bps on a linked quarter basis 1.15% $238.2 $225.0❑ Continued favorable trends in classified and criticized loans 0.95% $229.9 $224.4▪ Classified loans drop to 2% of total loans 0.75% ▪ Criticized loans drop to less than 3% of total loans; lowest level in last 10 quarters $200.0 0.55% ❑ Top 10 NPLs total $92.7 million with specific reserves of $13.5 million ▪ Linked quarter increase in NPLs reflects fully migrated single 1-4 family real estate construction 0.35% $175.0 relationship previously disclosed in 1Q26 0.15% ▪ The relationship is isolated within the portfolio and originated from our most recent acquisition $150.0 -0.05% ❑ Moody’s June 30, 2026, Economic Scenario 2Q25 3Q25 4Q25 1Q26 2Q26 ▪ Baseline (80%); S1 (10%); S3 (10%) – weightings consistent with prior quarter and reflects a ACL ACL to Total Loans notably more pessimistic Moody’s outlook in all scenarios Provision and Net Charge-Offs Reserve for Unfunded Commitments $ in millions $ in millions $50.0 1.00% $17.4 0.80% $14.6 0.66% 0.65% 0.65% 0.63% Incremental 0.58% $8.3 0.60% provision for $5.5 growth in loan $25.0 portfolio and $25.6 $25.6 $25.6 $25.6 $25.6 0.40% changes in Moody’s macro Net 0.20% Net economic $9.1 $9.1 Charge-Offs Charge-Offs forecast 20 bps 21 bps $0.0 0.00% 2Q25 3Q25 4Q25 1Q26 2Q26 Unfunded Commitment Reserve Reserve to Unfunded Commitments 1Q26 2Q26 20
Credit Quality Top 10 Nonperforming Loans Industry Outstanding Specific Reserve % Credit Quality Metrics 1 1-4 Family Commercial CLD $44.0M 11% 0.92% 0.92% 0.90% 2 CLD – NOO Office $8.3M 21% 0.79% 3 CRE – Owner Occupied/C&I $7.0M - 0.72% 0.66% 0.64% 0.62% 0.63% 4 Multifamily $6.6M 15% 0.51% 56% 5 1-4 Family Rental Real Estate $5.9M 9% 0.51% of total 6 CRE – NOO Retail $4.6M 18% NPLs 0.29% 0.27% 7 C&I/1-4 Family CLD $4.4M 45% 0.17% 0.11% 8 CRE – NOO Other $4.2M 15% 2Q25 3Q25 4Q25 1Q26 2Q26 9 CRE/C&I – Owner Occupied $4.1M 22% NPL to Loans NPA to Assets Past Due 30-89 to Loans 10 CRE – NOO Office $3.6M 26% Classified Loans Criticized Loans $ in millions $ in millions $500.0 $800.0 $775.0 3.89% 3.89% 2.50% 2.50% $750.0 $475.0 $725.0 3.50% 2.50% 2.24% 2.22% $700.0 3.28% $450.0 $675.0 2.00% $650.0 2.90% $425.0 $625.0 $668.2 $666.3 $430.3 $600.0 $428.2 $400.0 $575.0 $612.5 2.50% $550.0 $588.5 $398.1 $375.0 $525.0 $392.3 $500.0 $523.2 $475.0 $350.0 $361.1 $450.0 $425.0 $325.0 $400.0 $375.0 $300.0 $350.0 $325.0 $275.0 $300.0 $275.0 $250.0 0.00% $250.0 0.00% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Classifed Loans % of Total Loans Criticized Loans % of Total Loans 21
Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements. Certain statements by Simmons First National Corporation (the “Company”, which where appropriate includes the Company’s wholly-owned banking subsidiary, Simmons Bank) contained in this presentation 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 may be identified by reference to a future period(s) or by the use of forward- looking terminology, such as anticipate, “believe,” “continue,” estimate, expect, foresee,“ “indicate,” “plan,” “potential,” “project,” “target,” may, might, will, would, could,“ “should,” “likely” or intend, future or conditional verb tenses, and variations or negatives of such terms or by similar expressions. These forward-looking statements include, without limitation, statements relating to the Company’s future growth (including, among other things, expected pre-provision net revenue growth during 2026); business strategies; product development; revenue; expenses (including interest expense and non-interest expenses); assets; loan demand (including loan growth, loan capacity, and other lending activity); deposit levels; dividends; asset quality; profitability; earnings; critical accounting policies; net interest margin; noninterest income; the Company's common stock repurchase program; adequacy of the allowance for credit losses; income tax deductions; credit quality; level of credit losses from lending commitments; interest rate sensitivity (including, among other things, the potential impact of rising rates); loan loss experience; liquidity; capital resources; future economic conditions and market risk; interest rates; the Company’s securities portfolio; legal and regulatory limitations and compliance and competition; anticipated loan principal reductions; projections regarding loan repricing; the estimated earnback from combined 2Q26 initiatives set for the on slide 8; the interest rate sensitivity estimates and projections set forth on slide 11; the estimates related to the hedging program (including estimated future swap income) set forth on slide 12; and the commentary regarding net charge-off guidance set forth on slide 20. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation in that actual results could differ materially from those indicated in or implied by such forward-looking statements due to a variety of factors. These factors include, but are not limited to, changes in the Company's operating or expansion strategy; the availability of and costs associated with obtaining adequate and timely sources of liquidity; changes in credit quality; changes in general market and economic conditions; increased unemployment; labor shortages; possible adverse rulings, judgments, fines, settlements and other outcomes of pending or future litigation; the ability of the Company to collect amounts due under loan agreements; significant increases in nonaccrual loan balances; changes in consumer preferences and loan demand; the effectiveness of the Company's interest rate risk management strategies; laws and regulations affecting financial institutions in general or relating to taxes; the effect of pending or future legislation; changes in governmental administrations; the ability of the Company to repurchase its common stock on favorable terms; the ability of the Company to successfully manage and implement its acquisition strategy and integrate acquired institutions; changes in tariff policies; difficulties and delays in integrating an acquired business or fully realizing cost savings and other benefits of mergers and acquisitions; changes in interest rates, deposit flows, real estate values, and capital markets; increased inflation; customer acceptance of the Company's products and services and changes in customer behaviors; changes or disruptions in technology and IT systems (including cyber or other information technology threats, attacks and 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; changes in accounting principles relating to loan loss recognition (current expected credit losses, or CECL); fraud that results in material losses or that we have not discovered yet that may result in material losses; the benefits associated with the Company’s early retirement program; pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, 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; increased competition in the markets in which the Company operates and from non-bank financial institutions; changes in governmental policies; the effects of a government shutdown; loss of key employees; reliance on third parties for key services; 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 delinquency and foreclosure rates on commercial real estate and other loans; and other risk factors. Other relevant risk factors are detailed in the Company’s Form 10-K for the year ended December 31, 2025, 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. In addition, there can be no guarantee that the board of directors (“Board”) of the Company 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. Further, the timing, pricing and amount of any repurchases under the Company’s stock repurchase 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 stock repurchase program does not obligate Simmons to repurchase any common stock and may be modified, discontinued or suspended at any time without prior notice. Any forward-looking statement speaks only as of the date of this presentation, and the Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this presentation. Annualized, quarterized, pro forma, projected and estimated numbers are used for illustrative purpose only, are based on hypothetical assumptions that may not accurately reflect future incomes, are not forecasts and are not guaranteed and may differ significantly from actual results. The Company references certain market, industry, and demographic data and other statistical information in this presentation. The Company has obtained this data and information from various independent, third-party industry sources and publications. Nothing in the data or information used or derived from third-party sources should be construed as advice. We believe that these external sources and estimates are reliable but have not independently verified them. Non-GAAP Financial Measures. This presentation 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 and capital adequacy. 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, non-interest income, and non-interest 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, and presents certain other figures to include the effect that accumulated other comprehensive income could have on the Company’s capital levels. 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, present the Company’s capital inclusive of the potential impact of AOCI (primarily comprised of unrealized losses on securities), 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 appendix to this presentation. 22
Appendix 23
Select Balance Sheet and Other Data 2Q26 vs 1Q26 2Q26 vs 2Q25 $ in millions, except per share data 2Q26 1Q26 2Q25 $ Change % Change $ Change % Change Period End Balances Total loans $18,062.4 $17,932.9 $17,111.1 $129.5 1 % $951.3 6 % Investment securities 3,077.2 3,152.3 5,996.9 ( 75.1) (2) (2,919.7) (49) Total assets 2 4,776.8 24,692.8 26,693.6 8 4.0 - (1,916.8) (7) Total deposits 19,728.1 20,202.8 21,825.0 ( 474.7) (2) (2,096.9) (10) Borrowed funds 1 ,299.5 771.2 1,032.0 528.3 69 267.5 26 Total stockholders' equity 3 ,481.9 3,437.7 3,549.2 4 4.1 1 ( 67.4) (2) Average Balances Total loans $17,956.6 $17,658.8 $17,046.8 $297.8 2 % $909.8 5 % Investment securities 3,103.5 3,228.8 6,047.8 ( 125.3) (4) (2,944.3) (49) Total assets 24,638.0 24,533.0 26,645.1 105.0 - (2,007.1) (8) Total deposits 19,871.1 20,236.2 2 1,431.0 (365.1) (2) (1,559.9) (7) Borrowed funds 1,007.6 528.7 1,359.7 478.8 91 ( 352.2) (26) Total stockholders' equity 3,478.5 3,470.3 3,546.2 8.3 - ( 67.6) (2) Select Other Data Equity to assets 14.05 % 13.92 % 13.30 % 1 8.91 8.74 8.46 Tangible common equity to tangible assets Book value per share $24.11 $23.70 $28.17 1 14.42 14.03 16.97 Tangible book value per share Allowance for credit losses to total loans 1.32 % 1.28 % 1.48 % Nonperforming loan coverage ratio 143 162 161 1 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations 24
Income Summary 1 1 2Q26 Adjusted 2Q26 vs Adjusted 1 $ in millions, except per share data Reported 1Q26 2Q25 Adjusted Net interest income $200.6 $200.6 $3.5 2 % $28.8 17 % Noninterest income 47.9 47.9 3.7 8 5 .6 13 Total revenue 248.6 248.6 7.2 3 34.4 16 Noninterest expense 147.7 140.3 (0.3) - 3.5 3 2 100.8 108.2 7.5 7 30.9 40 Pre-provision net revenue Provision for credit losses 17.4 17.4 2.8 19 5 .5 46 Provision for income taxes 16.7 18.6 1.1 6 9 .3 100 Earnings $ 66.7 $ 72.2 $3.6 5 % $16.1 29 % Diluted EPS $ 0.46 $ 0.50 $0.03 6 % $0.06 14 % Totals may not foot due to rounding 1 Non-GAAP measures that management believes aid in the discussion of results. See appendix for Non-GAAP reconciliations 25 2 All pre-provision net revenue (PPNR) figures set forth in this row are Non-GAAP measures. See footnote 1 for more information
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q $ in thousands, except per share data 2025 2025 2025 2026 2026 1 Calculation of Adjusted Earnings Net Income (Loss) $ 54,773 $ (562,792) $ 78,078 $ 68,544 $ 66,691 Certain items Branch/real estate rightsizing, net 163 2,004 85 531 6,099 Loss on sale of equipment finance business - - 1,118 - - Loss (gain) on sale of securities - 801,492 - - - Severance/early retirement program 1,594 305 - 283 1,320 Loss on early extinguishment of debt - 570 - - - Termination of vendor and software services - - 12 - - FDIC Deposit Insurance special assessment - - - (1,984) - Professional services - - - 1,200 - Tax effect (459) (176,649) (318) (8) (1,939) Certain items, net of tax 1,298 627,722 897 22 5,480 Adjusted earnings (non-GAAP) $ 56,071 $ 64,930 $ 78,975 $ 68,566 $ 72,171 1 Calculation of Earnings and Adjusted Earnings per Diluted Share Earnings available to common shareholders $ 54,773 $ (562,792) $ 78,078 $ 68,544 $ 66,691 Diluted earnings per share $ 0.43 $ (4.00) $ 0.54 $ 0.47 $ 0.46 Adjusted earnings available to common shareholders (non-GAAP) $ 56,071 $ 64,930 $ 78,975 $ 68,566 $ 72,171 Adjusted diluted earnings per share (non-GAAP) $ 0.44 $ 0.46 $ 0.54 $ 0.47 $ 0.50 Average Diluted Shares Outstanding 126,406,453 140,648,704 145,210,222 145,340,410 145,323,958 1 In this presentation, “Adjusted Earnings” may also be referred to as “Adjusted Net Income” 26
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q 2025 2025 2025 2026 2026 $ in thousands Calculation of Pre-Provision Net Revenue (PPNR) Net interest income $ 171,824 $ 186,661 $ 197,296 $ 197,168 $ 200,627 Plus: Noninterest income 42,354 (756,187) 51,708 44,197 47,939 Less: Noninterest expense 138,589 142,032 139,862 140,673 147,739 Pre-Provision Net Revenue (PPNR) (non-GAAP) $ 75,589 $ (711,558) $ 109,142 $ 100,692 $ 100,827 Calculation of Adjusted Pre-Provision Net Revenue Pre-Provision Net Revenue (PPNR) (non-GAAP) $ 75,589 $ (711,558) $ 109,142 $ 100,692 $ 100,827 Plus: Loss on sale of equipment finance business - - 1,118 - - Plus: (Gain) loss on sale of securities - 801,492 - - - Plus: Branch/real estate rightsizing costs, net 163 2,004 85 531 6,099 Plus: Severance/early retirement program 1,594 305 - 283 1,320 Plus: Loss on early extinguishment of debt - 570 - - - Plus: Termination of vendor and software services - - 12 - - Plus: Professional services - - - 1,200 - Less: FDIC Deposit Insurance special assessment - - - 1,984 - Adjusted Pre-Provision Net Revenue (non-GAAP) $ 77,346 $ 92,813 $ 110,357 $ 100,722 $ 108,246 Calculation of Book Value and Tangible Book Value per Share Total common stockholders' equity $ 3,549,210 $ 3,353,963 $ 3,419,240 $ 3,437,734 $ 3,481,859 Intangible assets: Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799) Other intangible assets (90,617) (87,520) (84,423) (81,325) (78,228) Total intangible assets (1,411,416) (1,408,319) (1,405,222) (1,402,124) (1,399,027) Tangible common stockholders' equity (non-GAAP) $ 2,137,794 $ 1,945,644 $ 2,014,018 $ 2,035,610 $ 2,082,832 Shares of common stock outstanding 125,996,248 144,703,075 144,762,817 145,058,331 144,442,482 Book value per common share $ 28.17 $ 23.18 $ 23.62 $ 23.70 $ 24.11 Tangible book value per common share (non-GAAP) $ 16.97 $ 13.45 $ 13.91 $ 14.03 $ 14.42 27
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q 2025 2025 2025 2026 2026 $ in thousands, except number of employees (FTE) Calculation of Total Revenue and Adjusted Total Revenue Net Interest Income (GAAP) $ 171,824 $ 186,661 $ 197,296 $ 197,168 $ 200,627 Noninterest Income (GAAP) 42,354 (756,187) 51,708 44,197 47,939 Total Revenue (non-GAAP) $ 214,178 $ (569,526) $ 249,004 $ 241,365 $ 248,566 Total Revenue (non-GAAP) $ 214,178 $ (569,526) $ 249,004 $ 241,365 $ 248,566 Less: Gain (loss) on sales of securities - (801,492) - - - Less: Loss on early extinguishment of debt - (570) - - - Adjusted Total Revenue (non-GAAP) $ 214,178 $ 232,536 $ 249,004 $ 241,365 $ 248,566 Employees (FTE) 2,947 2,883 2,917 2,913 2,909 Total Revenue per Employee (FTE) $ 72.68 $ (197.55) $ 85.36 $ 82.86 $ 85.45 Adjusted Total Revenue per Employee (FTE) $ 72.68 $ 80.66 $ 85.36 $ 82.86 $ 85.45 Calculation of Adjusted Noninterest Income Noninterest Income (GAAP) $ 42,354 $ (756,187) $ 51,708 $ 44,197 $ 47,939 Less: Gain (loss) on sale of securities - (801,492) - - - Less: Loss on early extinguishment of debt - (570) - - - Adjusted Noninterest Income (non-GAAP) $ 42,354 $ 45,875 $ 51,708 $ 44,197 $ 47,939 Calculation of Noninterest Income to Total Revenue Noninterest Income to Total Revenue 19.78% NM 20.77% 18.31% 19.29% Adjusted Noninterest Income to Adjusted Total Revenue (non-GAAP) 19.78% 19.73% 20.77% 18.31% 19.29% Calculation of PPNR and Adjusted PPNR Per Share Average Diluted Shares Outstanding 126,406,453 140,648,704 145,210,222 145,340,410 145,323,958 PPNR per Average Diluted Shares Outstanding $ 0.60 $ (5.06) $ 0.75 $ 0.69 $ 0.69 Adjusted PPNR per Average Diluted Shares Outstanding (non-GAAP) $ 0.61 $ 0.66 $ 0.76 $ 0.69 $ 0.74 FTE – Full time equivalent NM – Not meaningful 28
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q 2025 2025 2025 2026 2026 $ in thousands Calculation of Adjusted Noninterest Expense Noninterest Expense (GAAP) $ 138,589 $ 142,032 $ 139,862 $ 140,673 $ 147,739 Less: Branch/real estate rightsizing expense 163 2,004 85 531 6,099 Less: Severance/early retirement program 1,594 305 - 283 1,320 Less: Loss on sale of equipment finance business - - 1,118 - - Less: Termination of vendor and software services - - 12 - - Less: Professional services - - - 1,200 - Plus: FDIC Deposit Insurance special assessment - - - 1,984 - Adjusted Noninterest Expense (non-GAAP) $ 136,832 $ 139,723 $ 138,647 $ 140,643 $ 140,320 Calculation of Efficiency Ratio and Adjusted Efficiency Ratio Noninterest Expense (efficiency ratio numerator) $ 138,589 $ 142,032 $ 139,862 $ 140,673 $ 147,739 Total Revenue $ 214,178 $ (569,526) $ 249,004 $ 241,365 $ 248,566 Fully taxable equivalent adjustment ___ _ _6,422 ___ _ _3,811 ___ _ _2,890 ___ _ _3,012 ___ _ _3,029 Efficiency ratio denominator $ 220,600 $ (565,715) $ 251,894 $ 244,377 $ 251,595 Efficiency ratio (based on GAAP figures) 62.82% (25.11)% 55.52% 57.56% 58.72% Adjusted Noninterest Expense (non-GAAP) $ 136,832 $ 139,723 $ 138,647 $ 140,643 $ 140,320 Less: Other real estate and foreclosure expense 216 200 432 315 695 Less: Amortization of intangible assets ___ __ 3,098 ___ __ 3,097 ___ __ 3,097 ___ __ 3,097 ___ __ 3,097 Adjusted efficiency ratio numerator (non-GAAP) $ 133,518 $ 136,426 $ 135,118 $ 137,231 $ 136,528 Adjusted Total Revenue (non-GAAP) (reconciliation shown on page 28) $ 214,178 $ 232,536 $ 249,004 $ 241,365 $ 248,566 Fully taxable equivalent adjustment ___ _ _6,422 ___ _ _3,811 ___ _ _2,890 ___ _ _3,012 ___ _ _3,097 Adjusted efficiency ratio denominator (non-GAAP) $ 220,600 $ 236,347 $ 251,894 $ 244,377 $ 251,595 Adjusted Efficiency Ratio (non-GAAP) 60.52% 57.72% 53.64% 56.16% 54.26% Fully taxable equivalent adjustment using an effective tax rate of 26.135% 29
Non-GAAP Reconciliations 2Q 1Q 2Q 2025 2026 2026 $ in thousands Calculation of Adjusted Salaries and Employee Benefits Salaries and employee benefits (GAAP) $ 73,862 $ 75,885 $ 75,590 Less: Severance/early retirement program 1,594 283 1,320 Less: Other (1) - (4) Total Adjusted Salaries and Employee Benefits (non-GAAP) $ 72,269 $ 75,602 $ 74,274 Calculation of Adjusted Occupancy Expense, Net Occupancy expense, net (GAAP) $ 11,844 $ 12,218 $ 14,715 Less: Branch/real estate rightsizing expense 396 298 3,670 Total Adjusted Occupancy Expense (non-GAAP) $ 11,448 $ 11,920 $ 11,045 Calculation of Adjusted Furniture and Equipment Expense Furniture and Equipment Expense (GAAP) $ 5,474 $ 5,423 $ 5,739 Less: Branch/real estate rightsizing expense 23 21 34 Total Adjusted Furniture and Equipment Expense (non-GAAP) $ 5,451 $ 5,402 $ 5,705 Calculation of Adjusted Other Noninterest Expense Other noninterest expense (GAAP) $ 42,276 $ 44,537 $ 46,550 Less: Loss on sale of equipment finance business - - - Less: Branch/real estate rightsizing expense (255) 205 2,399 Less: Termination of vendor and software services - - - Less: Certain professional services - 1,200 - Total Adjusted Other Noninterest Expense (non-GAAP) $ 42,531 $ 43,132 $ 44,151 Calculation of Adjusted Provision for Income Taxes Provision for income taxes (GAAP) $ 8,871 $ 17,526 $ 16,702 Less: Tax effect of certain items (non-GAAP) (reconciliation shown on page 26) (459) (8) (1,939) Adjusted provision for income taxes (non-GAAP) $ 9,330 $ 17,534 $ 18,641 30
Non-GAAP Reconciliations 2Q 1Q 2Q 2Q 2025 2026 2026 2026 $ in thousands $ in thousands Calculation of Adjusted Other Real Estate and Foreclosure Expense Calculation of Adjusted ROAA Other real estate and foreclosure expense (GAAP) $ 216 $ 315 $ 695 Net income $ 66,691 Less: Branch right sizing expense - 7 - Adjusted earnings (non-GAAP) (reconciliation shown on page 26) $ 72,171 Total Adjusted Other Real Estate and Foreclosure Expense (non-GAAP) $ 216 $ 308 $ 695 Average assets $ 24,638,021 Calculation of Adjusted Deposit insurance Return on average assets (ROAA) 1.09% Deposit insurance (GAAP) $ 4,917 $ 2,295 $ 4,450 Adjusted ROAA (non-GAAP) 1.17% Less: FDIC Deposit Insurance special assessment - (1,984) - Total Adjusted Deposit Insurance (non-GAAP) $ 4,917 $ 4,279 $ 4,450 Calculation of Insured, Collateralized Deposits to Total Deposits Uninsured deposits at Simmons Bank $ 7,213,361 2Q Less: Collateralized deposits (excluding portion that is FDIC insured) 2,385,340 2026 $ in thousands Less: Intercompany eliminations _____ 324,404 Total uninsured, non-collateralized deposits (non-GAAP) $ 4,503,617 Calculation of Tangible Common Equity (TCE) Total common stockholders’ equity $ 3,481,859 Total deposits $ 19,728,110 Less: Intangible assets 1,399,027 Total tangible common stockholders’ equity (non-GAAP) $ 2,082,832 Less: Total uninsured, noncollateralized deposits (non-GAAP) 4,503,617 Total insured, collateralized deposits (non-GAAP) $ 15,224,493 Total assets $ 24,776,816 Less: Intangible assets 1,399,027 Total Insured, collateralized deposits to total deposits (non-GAAP) 77% Total tangible assets $ 23,377,789 Common equity to total assets 14.05% Tangible common equity to tangible common assets (non-GAAP) 8.91% 31
Non-GAAP Reconciliations 2Q 2Q 2025 2025 $ in thousands $ in thousands Calculation of Tier 1 Leverage Ratio Calculation of Total Risk-Based Capital Ratio Stockholders’ equity $ 3,549,210 Tier 1 capital 2,551,006 Less: Disallowed intangible assets, net of deferred tax 1,379,104 Plus: Subordinated notes and debentures 366,369 Less: Unrealized loss (gain) on AFS securities 380,900 Less: Subordinated debt phase out (198,000) Tier 1 capital $ 2,551,006 Plus: Qualifying allowance for credit losses and reserve for unfunded commitments 258,079 Total risk-based capital $ 2,977,454 Tier 1 capital $ 2,551,006 Less: Market value adjustment on HTM securities transferred to AFS, net of tax 501,063 Total risk-based capital $ 2,977,454 Adjusted Tier 1 capital $ 2,049,943 Less: Loss on securities sale and repositioning 606,729 Adjusted total risk-based capital $ 2,370,725 Average assets for leverage ratio $ 25,606,135 Less: Market value adjustment on HTM securities transferred to AFS, net of tax 501,063 Risk weighted assets $ 20,646,324 Adjusted average assets for leverage ratio $ 25,105,072 Less: Securities sale and repositioning (assuming 32.9% risk weighting) 943,205 Adjusted risk weighted assets $ 19,703,119 Tier 1 Leverage Ratio 9.96% Adjusted Tier 1 Leverage Ratio (Economic Capital) (non-GAAP) 8.17% Total Risk-Based Capital Ratio 14.42% Adjusted Total Risk-Based Capital Ratio (Economic Capital) (non-GAAP) 12.03% 1 Calculation of CET 1 Capital Ratio Tier 1 capital $ 2,551,006 Less: Loss on securities sale and repositioning 606,729 Adjusted Tier 1 capital $ 1,944,277 Risk weighted assets $ 20,646,324 Less: Securities sale and repositioning (assuming 32.9% risk weighting) 943,205 Adjusted risk weighted assets $ 19,703,119 CET 1 Capital Ratio 12.36% Adjusted CET 1 Capital Ratio Ratio (Economic Capital) (non-GAAP) 9.87% 1 At June 30, 2025, the CET 1 Capital Ratio and the Tier 1 Risk-Based Capital Ratio were the same for the Company 32
Nasdaq SFNC nd 2 Quarter 2026 Earnings Presentation July 16, 2026