PINE BLUFF, Ark., July 16, 2026 /PRNewswire/ --
Financial Highlights 2Q26 1Q26 2Q25 2Q26 Highlights
----------------------- -------- -------- ------- ----------------------
Comparisons reflect
2Q26 vs 1Q26 unless
otherwise noted Net
income of $66.7
million and diluted
EPS of $0.46 Adjusted
net income(1) of $72.2
million and adjusted
diluted EPS(1) of
$0.50 ROAA of 1.09%
and ROE of 7.69%
Adjusted ROAA(1) of
1.17%; adjusted
ROTCE(1) of 14.37%
Total revenue of
$248.6 million and
PPNR(1) 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 ratio(1) 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
Income Statement 0.7 million shares
Summary (in millions) during the quarter
----------------------
Total revenue $ 248.6 $ 241.4 $214.2
----------------------
Adjusted total
revenue(1) 248.6 241.4 214.2
Pre-provision net
revenue(1) (PPNR) 100.8 100.7 75.6
Adjusted pre-provision
net revenue(1) 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 income(1) 72.2 68.6 56.1
----------------------- -------- -------- -------
Per Share Data
Diluted earnings $ 0.46 $ 0.47 $ 0.43
Adjusted diluted
earnings(1) 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) ratio(1) 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 assets(1) 1.17 1.13 0.84
Return on average
common equity 7.69 8.01 6.20
Return on average
tangible common
equity(1) 13.32 13.90 10.73
Adj. return onavg.
tangible common
equity(1) 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
ratio(1) 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 earnings(1) 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 share(1) 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 assets(1) was 1.17 percent and adjusted return on average tangible common equity(1) 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 earnings(1, 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 EPS(1) $ 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) basis(2) 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 income(1) $ 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 expense(1) 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 ratio(1) 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
benefits(1) $ 74.3 $ 75.6 $ 72.9 $ 75.9 $ 72.3
Adjusted other operating
expenses(1) 44.2 43.1 44.0 41.5 42.5
Adjusted noninterest expense(1) 140.3 140.6 138.6 139.7 136.8
Efficiency ratio 58.72 % 57.56 % 55.52 % (25.11) % 62.82 %
Adjusted efficiency ratio(1) 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 share(1) 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 assets(1) 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 assets(1) 8.9 8.7 8.7 8.5 8.5 Common equity tier 1 (CET1) ratio 11.6 11.6 11.6 11.5 12.4 Tier 1 leverage ratio 10.2 10.1 10.1 9.6 10.0 Tier 1 risk-based capital ratio 11.6 11.6 11.6 11.5 12.4 Total risk-based capital ratio 14.4 14.4 14.4 15.1 14.4
Share Repurchase Program
During the second quarter of 2026, Simmons repurchased approximately 0.7 million shares of its Class A common stock at an average price of $21.52 under its 2026 stock repurchase program (2026 Program). Remaining authorization under the 2026 Program as of June 30, 2026, was approximately $161 million. The timing, pricing and amount of any repurchases under the 2026 Program will be determined by Simmons' management at its discretion based on a variety of factors, including, but not limited to, market conditions, trading volume and market price of Simmons' common stock, Simmons' capital needs, Simmons' working capital and investment requirements, other corporate considerations, economic conditions, and legal requirements. The 2026 Program does not obligate Simmons to repurchase any common stock and may be modified, discontinued or suspended at any time without prior notice.
(1) Non-GAAP measurement. See "Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP Financial Measures" below (2) FTE -- fully taxable equivalent basis using an effective tax rate of 26.135% (3) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income"
Conference Call
Management will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Friday, July 17, 2026. Interested parties can listen to this call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporation conference call, conference ID 10210202. In addition, the call will be available live or in recorded version on Simmons' website at simmonsbank.com for at least 60 days following the date of the call.
Simmons First National Corporation
Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 117 consecutive years. Its principal subsidiary, Simmons Bank, operates 220 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Recently, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks and Credit Unions 2026 and by Forbes as one of America's Best-In-State Companies 2026. In 2025, Simmons Bank was recognized by Newsweek as one of America's Greatest Workplaces 2025 in Arkansas and one of America's Best Regional Banks 2025, and by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X or by visiting our newsroom.
Non-GAAP Financial Measures
This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures adjust GAAP performance measures to, among other things, include the tax benefit associated with revenue items that are tax-exempt, as well as exclude from net income (including on a per share diluted basis), pre-tax, pre-provision earnings, net charge-offs, income available to common shareholders, noninterest income, and noninterest expense certain income and expense items attributable to, for example, branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services.
In addition, the Company also presents certain figures based on tangible common stockholders' equity, tangible assets and tangible book value, which exclude goodwill and other intangible assets. The Company further presents certain figures that are exclusive of the impact of deposits and/or loans acquired through acquisitions, mortgage warehouse loans, and/or energy loans, or gains and/or losses on the sale of securities. The Company's management believes that these non-GAAP financial measures are useful to investors because they, among other things, present the results of the Company's ongoing operations without the effect of mergers or other items not central to the Company's ongoing business, as well as normalize for tax effects and certain other effects. Management, therefore, believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's ongoing businesses, and management uses these non-GAAP financial measures to assess the performance of the Company's ongoing businesses as related to prior financial periods. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.
Forward-Looking Statements
Certain statements in this press release may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, without limitation, statements made in Mr. Brogdon's quote, may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to Simmons' future growth, business strategies, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, dividends, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, future economic conditions and interest rates, and the adequacy of reserve levels for loans. Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, changes in credit quality, changes in interest rates and related governmental policies, the effects of a government shutdown, changes in loan demand, changes in deposit flows, changes in real estate values, changes in the assumptions used in making the forward-looking statements, changes in the securities markets generally or the price of Simmons' common stock specifically, changes in information technology affecting the financial industry, and changes in customer behaviors, including consumer spending, borrowing, and saving habits; changes in tariff policies; general economic and market conditions; changes in governmental administrations; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts in the Middle East and between Russia and Ukraine) or other major events, or the prospect of these events; the soundness of other financial institutions and any indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships; increased inflation; the loss of key employees; increased competition in the markets in which the Company operates and from non-bank financial institutions; increased unemployment; labor shortages; claims, damages, and fines related to litigation or government actions; changes in accounting principles relating to loan loss recognition (current expected credit losses); fraud that results in material losses or that the Company has not discovered yet that may result in material losses; the Company's ability to manage and successfully integrate its mergers and acquisitions and to fully realize cost savings and other benefits associated with acquisitions; increased delinquency and foreclosure rates on commercial real estate loans; significant increases in nonaccrual loan balances; cyber or other information technology threats, attacks or events; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats; reliance on third parties for key services; government legislation; and other factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those projected in or contemplated by the forward-looking statements. In addition, there can be no guarantee that the board of directors (Board) of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) is subject to, among other things, the discretion of the Board and may differ significantly from past dividends. Additional information on factors that might affect the Company's financial results is included in the Company's Form 10-K for the year ended December 31, 2025, the Company's Form 10-Q for the quarter ended March 31, 2026, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.
Simmons First
National
Corporation SFNC
Consolidated End of
Period Balance
Sheets
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
--------------- --------------- --------------- --------------- ---------------
($ in thousands)
ASSETS
Cash and
noninterest
bearing balances
due from banks $ 377,602 $ 342,603 $ 380,439 $ 377,604 $ 398,081
Interest bearing
balances due from
banks and federal
funds sold 211,882 205,880 331,474 266,013 246,381
--------------- --------------- --------------- --------------- ---------------
Cash and cash
equivalents 589,484 548,483 711,913 643,617 644,462
Interest bearing
balances due from
banks - time 100 100 100 100 100
Investment
securities -
held-to-maturity - - - - 3,591,531
Investment
securities -
available-for-sale 3,077,181 3,152,286 3,266,221 3,319,277 2,405,320
Mortgage loans held
for sale 16,450 14,311 17,438 15,507 16,972
Assets held in
trading accounts 14,541 14,543 11,685 12,695 -
Loans:
Loans 18,062,369 17,932,883 17,492,179 17,188,817 17,111,096
Allowance for
credit losses on
loans (238,227) (229,908) (224,377) (258,006) (253,537)
--------------- --------------- --------------- --------------- ---------------
Net loans 17,824,142 17,702,975 17,267,802 16,930,811 16,857,559
Premises and
equipment 552,435 557,873 561,220 568,343 573,160
Foreclosed assets
and other real
estate owned 11,080 12,475 12,009 6,386 8,794
Interest receivable 103,016 101,557 104,062 104,383 120,443
Bank owned life
insurance 545,252 542,486 540,001 539,372 535,481
Goodwill 1,320,799 1,320,799 1,320,799 1,320,799 1,320,799
Other intangible
assets 78,228 81,325 84,423 87,520 90,617
Other assets 644,108 643,570 643,204 659,352 528,382
--------------- --------------- --------------- --------------- ---------------
Total assets $ 24,776,816 $ 24,692,783 $ 24,540,877 $ 24,208,162 $ 26,693,620
=============== =============== =============== =============== ===============
LIABILITIES AND
STOCKHOLDERS'
EQUITY
Deposits:
Noninterest bearing
transaction
accounts $ 4,350,474 $ 4,289,697 $ 4,330,211 $ 4,377,232 $ 4,468,237
Interest bearing
transaction
accounts and
savings deposits 11,133,265 11,311,979 11,141,169 10,932,914 11,176,791
Time deposits 4,244,371 4,601,107 4,712,658 4,527,587 6,179,962
--------------- --------------- --------------- --------------- ---------------
Total
deposits 19,728,110 20,202,783 20,184,038 19,837,733 21,824,990
Federal funds
purchased and
securities sold
under agreements to
repurchase 46,216 8,708 21,383 22,348 31,306
Other borrowings 941,256 446,756 302,253 18,832 634,349
Subordinated notes
and debentures 312,028 315,700 317,714 648,976 366,369
Accrued interest
and other
liabilities 267,347 281,102 296,249 326,310 287,396
--------------- --------------- --------------- --------------- ---------------
Total liabilities 21,294,957 21,255,049 21,121,637 20,854,199 23,144,410
--------------- --------------- --------------- --------------- ---------------
Stockholders'
equity:
Common stock 1,444 1,451 1,448 1,447 1,260
Surplus 2,837,845 2,848,952 2,846,581 2,848,977 2,518,286
Undivided profits 937,307 901,696 864,341 817,022 1,410,564
Accumulated other
comprehensive
(loss) income (294,737) (314,365) (293,130) (313,483) (380,900)
--------------- --------------- --------------- --------------- ---------------
Total stockholders'
equity 3,481,859 3,437,734 3,419,240 3,353,963 3,549,210
--------------- --------------- --------------- --------------- ---------------
Total liabilities
and stockholders'
equity $ 24,776,816 $ 24,692,783 $ 24,540,877 $ 24,208,162 $ 26,693,620
=============== =============== =============== =============== ===============
Simmons First National
Corporation SFNC
Consolidated
Statements of Income -
Quarter-to-Date
For the Quarters Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
-------------- -------------- -------------- ------------- -------------
($ in thousands, except
per share data)
INTEREST INCOME
Loans (including
fees) $ 274,271 $ 267,287 $ 270,868 $ 269,210 $ 265,373
Interest bearing
balances due from
banks and federal
funds sold 2,058 2,320 2,485 6,421 2,531
Investment
securities 31,013 31,882 33,833 37,464 46,898
Mortgage loans held
for sale 202 203 227 229 221
Assets held in
trading accounts 136 122 118 99 -
-------------- -------------- -------------- ------------- -------------
TOTAL
INTEREST
INCOME 307,680 301,814 307,531 313,423 315,023
-------------- -------------- -------------- ------------- -------------
INTEREST EXPENSE
Time deposits 36,996 39,949 41,989 49,064 57,231
Other deposits 58,536 57,653 60,516 67,546 69,108
Federal funds
purchased and
securities -
sold under
agreements to
repurchase 426 36 57 72 59
Other borrowings 5,873 1,746 2,138 2,957 10,613
Subordinated notes
and debentures 5,222 5,262 5,535 7,123 6,188
-------------- -------------- -------------- ------------- -------------
TOTAL
INTEREST
EXPENSE 107,053 104,646 110,235 126,762 143,199
-------------- -------------- -------------- ------------- -------------
NET INTEREST INCOME 200,627 197,168 197,296 186,661 171,824
-------------- -------------- -------------- ------------- -------------
PROVISION FOR CREDIT
LOSSES
Provision for credit
losses on loans 17,434 14,622 15,116 15,180 11,945
Provision for credit
losses on
investment
securities - HTM - - - (3,214) -
-------------- -------------- -------------- ------------- -------------
TOTAL
PROVISION
FOR CREDIT
LOSSES 17,434 14,622 15,116 11,966 11,945
-------------- -------------- -------------- ------------- -------------
NET INTEREST INCOME
AFTER PROVISION
FOR CREDIT LOSSES 183,193 182,546 182,180 174,695 159,879
-------------- -------------- -------------- ------------- -------------
NONINTEREST INCOME
Service charges on
deposit accounts 12,329 12,656 12,669 13,045 12,588
Debit and credit
card fees 9,008 8,503 8,660 8,478 8,567
Wealth management
fees 10,240 10,533 10,337 9,965 9,464
Mortgage lending
income 1,994 1,854 2,232 2,259 1,687
Bank owned life
insurance income 4,218 4,218 3,942 3,943 3,890
Other service
charges and fees
(includes insurance
income) 1,551 1,606 1,503 1,474 1,321
Gain (loss) on sale
of securities - - - (801,492) -
Other income 8,599 4,827 12,365 6,141 4,837
-------------- -------------- -------------- ------------- -------------
TOTAL
NONINTEREST
INCOME 47,939 44,197 51,708 (756,187) 42,354
-------------- -------------- -------------- ------------- -------------
NONINTEREST EXPENSE
Salaries and
employee benefits 75,590 75,885 72,924 76,249 73,862
Occupancy expense,
net 14,715 12,218 11,636 12,106 11,844
Furniture and
equipment expense 5,739 5,423 5,304 5,275 5,474
Other real estate
and foreclosure
expense 695 315 432 200 216
Deposit insurance 4,450 2,295 4,736 5,175 4,917
Other operating
expenses 46,550 44,537 44,830 43,027 42,276
-------------- -------------- -------------- ------------- -------------
TOTAL
NONINTEREST
EXPENSE 147,739 140,673 139,862 142,032 138,589
-------------- -------------- -------------- ------------- -------------
NET INCOME (LOSS)
BEFORE INCOME TAXES 83,393 86,070 94,026 (723,524) 63,644
Provision for income
taxes 16,702 17,526 15,948 (160,732) 8,871
-------------- -------------- -------------- ------------- -------------
NET INCOME (LOSS) $ 66,691 $ 68,544 $ 78,078 $ (562,792) $ 54,773
============== ============== ============== ============= =============
BASIC EARNINGS PER
SHARE $ 0.46 $ 0.47 $ 0.54 $ (4.01) $ 0.43
============== ============== ============== ============= =============
DILUTED EARNINGS PER
SHARE $ 0.46 $ 0.47 $ 0.54 $ (4.00) $ 0.43
============== ============== ============== ============= =============
Simmons First National
Corporation SFNC
Consolidated
Risk-Based
Capital
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
-------------- -------------- -------------- -------------- --------------
($ in thousands)
Tier 1 capital
-----------------
Stockholders'
equity $ 3,481,859 $ 3,437,734 $ 3,419,240 $ 3,353,963 $ 3,549,210
Disallowed
intangible
assets, net of
deferred tax (1,367,717) (1,370,562) (1,374,839) (1,376,255) (1,379,104)
Unrealized loss
(gain) on AFS
securities 294,737 314,365 293,130 313,483 380,900
-------------- -------------- -------------- -------------- --------------
Total Tier 1
capital 2,408,879 2,381,537 2,337,531 2,291,191 2,551,006
-------------- -------------- -------------- -------------- --------------
Tier 2 capital
-----------------
Subordinated
notes and
debentures 312,028 315,700 317,714 648,976 366,369
Subordinated
debt phase
out - - - (198,000) (198,000)
Qualifying
allowance for
loan losses
and
reserve for
unfunded
commitments 259,693 255,537 250,006 248,710 258,079
-------------- -------------- -------------- -------------- --------------
Total Tier 2
capital 571,721 571,237 567,720 699,686 426,448
-------------- -------------- -------------- -------------- --------------
Total
risk-based
capital $ 2,980,600 $ 2,952,774 $ 2,905,251 $ 2,990,877 $ 2,977,454
============== ============== ============== ============== ==============
Risk weighted
assets $ 20,771,268 $ 20,565,445 $ 20,106,493 $ 19,861,879 $ 20,646,324
============== ============== ============== ============== ==============
Adjusted average
assets for
leverage ratio $ 23,617,439 $ 23,487,513 $ 23,224,638 $ 23,963,356 $ 25,606,135
============== ============== ============== ============== ==============
Ratios at end of
quarter
-----------------
Equity to
assets 14.05 % 13.92 % 13.93 % 13.85 % 13.30 %
Tangible common
equity to
tangible
assets (1) 8.91 % 8.74 % 8.71 % 8.53 % 8.46 %
Common equity
Tier 1 ratio
(CET1) 11.60 % 11.58 % 11.63 % 11.54 % 12.36 %
Tier 1 leverage
ratio 10.20 % 10.14 % 10.06 % 9.56 % 9.96 %
Tier 1
risk-based
capital ratio 11.60 % 11.58 % 11.63 % 11.54 % 12.36 %
Total
risk-based
capital ratio 14.35 % 14.36 % 14.45 % 15.07 % 14.42 %
(1) Calculations of tangible common equity to tangible assets and the
reconciliations to GAAP are included in the schedules accompanying this
release.
Simmons First National Corporation SFNC
Consolidated Investment
Securities
For the Quarters Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
----------------- ----------------- ----------------- ----------------- ----------------
($ in thousands)
Investment Securities -
End of Period
-------------------------
Held-to-Maturity
U.S. Government
agencies $ - $ - $ - $ - $ 457,228
Mortgage-backed
securities - - - - 1,024,313
State and political
subdivisions - - - - 1,855,614
Other securities - - - - 254,376
----------------- ----------------- ----------------- ----------------- ----------------
Total
held-to-maturity
(net of credit
losses) - - - - 3,591,531
----------------- ----------------- ----------------- ----------------- ----------------
Available-for-Sale
U.S. Treasury $ - $ - $ - $ - $ 400
U.S. Government
agencies 44,425 46,329 47,172 48,355 49,498
Mortgage-backed
securities 2,061,760 2,128,732 2,201,958 2,249,593 1,349,991
State and political
subdivisions 865,467 838,880 859,071 845,371 807,842
Other securities 105,529 138,345 158,020 175,958 197,589
----------------- ----------------- ----------------- ----------------- ----------------
Total
available-for-sale
(net of credit
losses) 3,077,181 3,152,286 3,266,221 3,319,277 2,405,320
----------------- ----------------- ----------------- ----------------- ----------------
Total investment
securities (net of
credit losses) $ 3,077,181 $ 3,152,286 $ 3,266,221 $ 3,319,277 $ 5,996,851
================= ================= ================= ================= ================
Fair value - HTM
investment
securities $ - $ - $ - $ - $ 2,891,974
================= ================= ================= ================= ================
Simmons First National Corporation SFNC
Consolidated
Loans
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
--------------- --------------- --------------- --------------- ---------------
($ in thousands)
Loan Portfolio -
End of Period
-----------------
Consumer:
Credit cards $ 174,148 $ 172,610 $ 175,760 $ 173,020 $ 176,166
Other consumer 99,117 96,387 115,472 112,335 123,831
--------------- --------------- --------------- --------------- ---------------
Total consumer 273,265 268,997 291,232 285,355 299,997
Real Estate:
Construction 2,577,630 2,621,859 2,873,807 2,874,823 2,784,578
Single-family
residential 2,564,282 2,566,162 2,607,450 2,617,849 2,625,717
Other
commercial
real estate 8,828,771 8,764,648 8,289,968 7,875,649 7,961,412
--------------- --------------- --------------- --------------- ---------------
Total real
estate 13,970,683 13,952,669 13,771,225 13,368,321 13,371,707
Commercial:
Commercial 2,516,607 2,521,440 2,382,339 2,397,388 2,440,507
Agricultural 426,522 333,508 306,300 353,181 333,078
--------------- --------------- --------------- --------------- ---------------
Total commercial 2,943,129 2,854,948 2,688,639 2,750,569 2,773,585
Other 875,292 856,269 741,083 784,572 665,807
--------------- --------------- --------------- --------------- ---------------
Total loans $ 18,062,369 $ 17,932,883 $ 17,492,179 $ 17,188,817 $ 17,111,096
=============== =============== =============== =============== ===============
Simmons First National
Corporation SFNC
Consolidated Allowance
and Asset Quality
For the Quarters Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
------------- ------------- ------------- ------------- -------------
($ in thousands)
Allowance for Credit
Losses on Loans
------------------------
Beginning balance $ 229,908 $ 224,377 $ 258,006 $ 253,537 $ 252,168
Loans charged off:
Credit cards 1,368 1,677 1,346 1,862 1,702
Other consumer 350 590 550 600 351
Real estate 5,465 6,629 25,850 1,350 1,450
Commercial 3,520 1,666 22,004 8,079 8,257
------------- ------------- ------------- ------------- -------------
Total loans
charged off 10,703 10,562 49,750 11,891 11,760
Recoveries of loans
previously charged
off:
Credit cards 244 468 347 257 334
Other consumer 381 301 163 303 294
Real estate 151 449 105 115 87
Commercial 812 253 390 505 469
------------- ------------- ------------- ------------- -------------
Total recoveries 1,588 1,471 1,005 1,180 1,184
------------- ------------- ------------- ------------- -------------
Net loans charged off 9,115 9,091 48,745 10,711 10,576
Provision for credit
losses on loans 17,434 14,622 15,116 15,180 11,945
------------- ------------- ------------- ------------- -------------
Balance, end of quarter $ 238,227 $ 229,908 $ 224,377 $ 258,006 $ 253,537
============= ============= ============= ============= =============
Nonperforming assets
------------------------
Nonperforming loans:
Nonaccrual loans $ 165,295 $ 141,233 $ 111,791 $ 153,516 $ 156,453
Loans past due 90
days or more 753 647 948 423 709
------------- ------------- ------------- ------------- -------------
Total
nonperforming
loans 166,048 141,880 112,739 153,939 157,162
------------- ------------- ------------- ------------- -------------
Other nonperforming
assets:
Foreclosed assets and
other real estate
owned 11,080 12,475 12,009 6,386 8,794
Other nonperforming
assets 60 181 323 392 759
------------- ------------- ------------- ------------- -------------
Total other
nonperforming
assets 11,140 12,656 12,332 6,778 9,553
------------- ------------- ------------- ------------- -------------
Total
nonperforming
assets $ 177,188 $ 154,536 $ 125,071 $ 160,717 $ 166,715
============= ============= ============= ============= =============
Loans past due 30-89
days (excluding
nonaccrual) $ 52,308 $ 91,245 $ 47,016 $ 19,207 $ 28,313
Ratios
------------------------
Allowance for credit
losses on loans to
total loans 1.32 % 1.28 % 1.28 % 1.50 % 1.48 %
Allowance for credit
losses to
nonperforming loans 143 % 162 % 199 % 168 % 161 %
Nonperforming loans to
total loans 0.92 % 0.79 % 0.64 % 0.90 % 0.92 %
Nonperforming assets to
total assets 0.72 % 0.63 % 0.51 % 0.66 % 0.62 %
Annualized net charge
offs to average loans
(QTD) 0.20 % 0.21 % 1.12 % 0.25 % 0.25 %
Annualized net charge
offs to average loans
(YTD) 0.21 % 0.21 % 0.47 % 0.24 % 0.24 %
Annualized net credit
card charge offs to
average credit card
loans (QTD) 2.57 % 2.81 % 2.23 % 3.64 % 2.99 %
Loans past due 30-89
days to total loans 0.29 % 0.51 % 0.27 % 0.11 % 0.17 %
Simmons First National Corporation SFNC
Consolidated - Average Balance Sheet and Net Interest
Income Analysis
For the Quarters
Ended
(Unaudited)
Three Months Ended Three Months Ended Three Months Ended
Jun 2026 Mar 2026 Jun 2025
------------------------------------- ------------------------------------ ------------------------------------
Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/
($ in thousands) Balance Expense Rate Balance Expense Rate Balance Expense Rate
--------------- ------------ ------ --------------- ----------- ------ --------------- ----------- ------
ASSETS
Earning assets:
Interest bearing
balances due from
banks
and federal
funds sold $ 199,704 $ 2,058 4.13 % $ 251,620 $ 2,320 3.74 % $ 219,928 $ 2,531 4.62 %
Investment
securities -
taxable 2,301,053 25,472 4.44 % 2,408,546 26,311 4.43 % 3,483,805 31,233 3.60 %
Investment
securities -
non-taxable
(FTE) 802,448 7,502 3.75 % 820,278 7,542 3.73 % 2,564,037 21,210 3.32 %
Mortgage loans
held for sale 13,556 202 5.98 % 13,800 203 5.97 % 13,063 221 6.79 %
Assets held in
trading
accounts 14,731 136 3.70 % 13,748 122 3.60 % - - 0.00 %
Loans - including
fees (FTE) 17,956,572 275,339 6.15 % 17,658,807 268,328 6.16 % 17,046,802 266,250 6.26 %
--------------- ------------ ------ --------------- ----------- ------ --------------- ----------- ------
Total interest
earning
assets (FTE) 21,288,064 310,709 5.85 % 21,166,799 304,826 5.84 % 23,327,635 321,445 5.53 %
Non-earning
assets 3,349,957 3,366,206 3,317,496
--------------- --------------- ---------------
Total assets $ 24,638,021 $ 24,533,005 $ 26,645,131
=============== =============== ===============
LIABILITIES AND STOCKHOLDERS'
EQUITY
Interest bearing
liabilities:
Interest bearing
transaction and
savings
accounts $ 11,192,627 $ 58,536 2.10 % $ 11,328,148 $ 57,653 2.06 % $ 11,220,060 $ 69,108 2.47 %
Time deposits 4,406,355 36,996 3.37 % 4,678,058 39,949 3.46 % 5,820,499 57,231 3.94 %
--------------- ------------ ------ --------------- ----------- ------ --------------- ----------- ------
Total interest
bearing
deposits 15,598,982 95,532 2.46 % 16,006,206 97,602 2.47 % 17,040,559 126,339 2.97 %
Federal funds
purchased and
securities
sold under
agreement to
repurchase 57,758 426 2.96 % 17,743 36 0.82 % 32,565 59 0.73 %
Other borrowings 635,693 5,873 3.71 % 192,345 1,746 3.68 % 960,817 10,613 4.43 %
Subordinated
notes and
debentures 314,108 5,222 6.67 % 318,635 5,262 6.70 % 366,350 6,188 6.77 %
--------------- ------------ ------ --------------- ----------- ------ --------------- ----------- ------
Total interest
bearing
liabilities 16,606,541 107,053 2.59 % 16,534,929 104,646 2.57 % 18,400,291 143,199 3.12 %
------------ ------ ----------- ------ ----------- ------
Noninterest bearing
liabilities:
Noninterest
bearing
deposits 4,272,088 4,229,952 4,390,454
Other liabilities 280,861 297,864 308,223
--------------- --------------- ---------------
Total
liabilities 21,159,490 21,062,745 23,098,968
Stockholders'
equity 3,478,531 3,470,260 3,546,163
--------------- --------------- ---------------
Total
liabilities
and
stockholders'
equity $ 24,638,021 $ 24,533,005 $ 26,645,131
=============== =============== ===============
Net interest income
(FTE) $ 203,656 $ 200,180 $ 178,246
============ =========== ===========
Net interest spread
(FTE) 3.26 % 3.27 % 2.41 %
====== ====== ======
Net interest margin
(FTE) 3.84 % 3.84 % 3.06 %
====== ====== ======
Simmons First
National
Corporation SFNC
Consolidated -
Selected
Financial Data
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
----------------- ----------------- ----------------- ----------------- -----------------
($ in thousands,
except share
data)
QUARTER-TO-DATE
-----------------
Financial
Highlights - As
Reported
-----------------
Net Income
(loss) $ 66,691 $ 68,544 $ 78,078 $ (562,792) $ 54,773
Diluted
earnings per
share 0.46 0.47 0.54 (4.00) 0.43
Return on
average
assets 1.09 % 1.13 % 1.28 % -8.96 % 0.82 %
Return on
average
tangible
assets
(non-GAAP)
(1) 1.19 % 1.24 % 1.40 % -9.46 % 0.91 %
Return on
average
common
equity 7.69 % 8.01 % 9.08 % -66.29 % 6.20 %
Return on
tangible
common equity
(non-GAAP)
(1) 13.32 % 13.90 % 15.92 % -113.56 % 10.73 %
Net interest
margin (FTE) 3.84 % 3.84 % 3.81 % 3.50 % 3.06 %
Efficiency
ratio (2) 58.72 % 57.56 % 55.52 % -25.11 % 62.82 %
FTE adjustment 3,029 3,012 2,890 3,811 6,422
Average
diluted
shares
outstanding 145,323,958 145,340,410 145,210,222 140,648,704 126,406,453
Shares
repurchased
under plan 662,082 - - - -
Average price
of shares
repurchased 21.52 - - - -
Cash dividends
declared per
common share 0.215 0.215 0.213 0.213 0.213
Accretable
yield on
acquired
loans 778 902 749 725 1,263
Financial
Highlights -
Adjusted
(non-GAAP) (1)
-----------------
Adjusted
earnings $ 72,171 $ 68,566 $ 78,975 $ 64,930 $ 56,071
Adjusted
diluted
earnings per
share 0.50 0.47 0.54 0.46 0.44
Adjusted
return on
average
assets 1.17 % 1.13 % 1.29 % 1.03 % 0.84 %
Adjusted
return on
average
tangible
assets
(non-GAAP)
(1) 1.29 % 1.24 % 1.41 % 1.13 % 0.93 %
Adjusted
return on
average
common
equity 8.32 % 8.01 % 9.19 % 7.65 % 6.34 %
Adjusted
return on
tangible
common
equity 14.37 % 13.91 % 16.10 % 13.62 % 10.97 %
Adjusted
efficiency
ratio (2) 54.26 % 56.16 % 53.64 % 57.72 % 60.52 %
YEAR-TO-DATE
-----------------
Financial
Highlights -
GAAP
-----------------
Net Income
(loss) $ 135,235 $ 68,544 $ (397,553) $ (475,631) $ 87,161
Diluted
earnings per
share 0.93 0.47 (2.95) (3.63) 0.69
Return on
average
assets 1.11 % 1.13 % -1.55 % -2.44 % 0.66 %
Return on
average
tangible
assets
(non-GAAP)
(1) 1.22 % 1.24 % -1.60 % -2.54 % 0.74 %
Return on
average
common
equity 7.85 % 8.01 % -11.45 % -18.21 % 4.94 %
Return on
tangible
common equity
(non-GAAP)
(1) 13.61 % 13.90 % -18.84 % -30.13 % 8.67 %
Net interest
margin (FTE) 3.84 % 3.84 % 3.32 % 3.17 % 3.01 %
Efficiency
ratio (2) 58.15 % 57.56 % 460.26 % -329.30 % 64.86 %
FTE adjustment 6,041 3,012 19,537 16,647 12,836
Average
diluted
shares
outstanding 145,335,181 145,340,410 134,731,180 131,132,891 126,325,650
Cash dividends
declared per
common share 0.430 0.215 0.850 0.638 0.425
Financial
Highlights -
Adjusted
(non-GAAP) (1)
-----------------
Adjusted
earnings $ 140,737 $ 68,566 $ 233,098 $ 154,123 $ 89,193
Adjusted
diluted
earnings per
share 0.97 0.47 1.73 1.18 0.71
Adjusted
return on
average
assets 1.15 % 1.13 % 0.91 % 0.79 % 0.67 %
Adjusted
return on
average
tangible
assets
(non-GAAP)
(1) 1.26 % 1.24 % 1.00 % 0.87 % 0.75 %
Adjusted
return on
average
common
equity 8.17 % 8.01 % 6.71 % 5.90 % 5.06 %
Adjusted
return on
tangible
common
equity 14.14 % 13.91 % 11.78 % 10.37 % 8.86 %
Adjusted
efficiency
ratio (2) 55.20 % 56.16 % 58.92 % 60.90 % 62.62 %
END OF PERIOD
-----------------
Book value per
share $ 24.11 $ 23.70 $ 23.62 $ 23.18 $ 28.17
Tangible book
value per
share 14.42 14.03 13.91 13.45 16.97
Shares
outstanding 144,442,482 145,058,331 144,762,817 144,703,075 125,996,248
Full-time
equivalent
employees 2,909 2,913 2,917 2,883 2,947
Total number
of financial
centers 220 221 222 223 223
(1) Non-GAAP measurement that management believes aids in the understanding
and discussion of results. Reconciliations to GAAP are included in the
schedules accompanying this release.
(2) Efficiency ratio is noninterest expense as a percent of net interest
income (fully taxable equivalent) and noninterest revenues. Adjusted
efficiency ratio is noninterest expense before foreclosed property expense,
amortization of intangibles and certain adjusting items as a percent of net
interest income (fully taxable equivalent) and noninterest revenues, excluding
gains and losses from securities transactions and certain adjusting items, and
is a non-GAAP measurement.
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings -
Quarter-to-Date
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
---------------- ---------------- ---------------- ---------------- ----------------
(in thousands,
except per share
data)
QUARTER-TO-DATE
-------------------
Net income (loss) $ 66,691 $ 68,544 $ 78,078 $ (562,792) $ 54,773
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - - 570 -
FDIC Deposit
Insurance
special
assessment - (1,984) - - -
Certain
professional
services - 1,200 - - -
Severance/early
retirement
program costs 1,320 283 - 305 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - - 801,492 -
Branch/real
estate
rightsizing
costs, net 6,099 531 85 2,004 163
Tax effect of
certain items
(1) (1,939) (8) (318) (176,649) (459)
---------------- ---------------- ---------------- ---------------- ----------------
Certain items,
net of tax 5,480 22 897 627,722 1,298
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted earnings
(non-GAAP) (2) $ 72,171 $ 68,566 $ 78,975 $ 64,930 $ 56,071
================ ================ ================ ================ ================
Diluted earnings
per share $ 0.46 $ 0.47 $ 0.54 $ (4.00) $ 0.43
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - - - -
FDIC Deposit
Insurance
special
assessment - (0.01) - - -
Certain
professional
services - 0.01 - - -
Severance/early
retirement
program costs 0.01 - - - 0.01
Termination of
vendor and
software
services - - - - -
Loss on sale of
Equipment
Finance
business - - 0.01 - -
Loss (gain) on
sale of
securities - - - 5.70 -
Branch/real
estate
rightsizing
costs, net 0.04 - - 0.01 -
Tax effect of
certain items
(1) (0.01) - (0.01) (1.25) -
---------------- ---------------- ---------------- ---------------- ----------------
Certain items,
net of tax 0.04 - - 4.46 0.01
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted diluted
earnings per
share (non-GAAP) $ 0.50 $ 0.47 $ 0.54 $ 0.46 $ 0.44
================ ================ ================ ================ ================
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities.
Effective rate of 26.135% on all other items
(2) In this press release, "Adjusted Earnings" may
also be referred to as "Adjusted Net Income."
Reconciliation of Certain Noninterest
Income and Expense Items (non-GAAP)
QUARTER-TO-DATE
-------------------
Noninterest
income $ 47,939 $ 44,197 $ 51,708 $ (756,187) $ 42,354
Certain
noninterest income
items
Loss on early
extinguishment
of debt - - - 570 -
Loss (gain) on
sale of
securities - - - 801,492 -
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
income
(non-GAAP) $ 47,939 $ 44,197 $ 51,708 $ 45,875 $ 42,354
================ ================ ================ ================ ================
Other income $ 8,599 $ 4,827 $ 12,365 $ 6,141 $ 4,837
Certain other
income items
Loss on early
extinguishment
of debt - - - 570 -
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted other
income
(non-GAAP) $ 8,599 $ 4,827 $ 12,365 $ 6,711 $ 4,837
================ ================ ================ ================ ================
Noninterest
expense $ 147,739 $ 140,673 $ 139,862 $ 142,032 $ 138,589
Certain
noninterest
expense items
Severance/early
retirement
program costs (1,320) (283) - (305) (1,594)
FDIC Deposit
Insurance
special
assessment - 1,984 - - -
Certain
professional
services - (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (6,099) (531) (85) (2,004) (163)
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
expense
(non-GAAP) 140,320 140,643 138,647 139,723 136,832
Less: Fraud event - - - - -
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
expense,
excluding fraud
event
(non-GAAP) $ 140,320 $ 140,643 $ 138,647 $ 139,723 $ 136,832
================ ================ ================ ================ ================
Salaries and
employee
benefits $ 75,590 $ 75,885 $ 72,924 $ 76,249 $ 73,862
Certain salaries
and employee
benefits items
Severance/early
retirement
program costs (1,320) (283) - (305) (1,594)
Other 4 - - (1) 1
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
salaries and
employee
benefits
(non-GAAP) $ 74,274 $ 75,602 $ 72,924 $ 75,943 $ 72,269
================ ================ ================ ================ ================
Other operating
expenses $ 46,550 $ 44,537 $ 44,830 $ 43,027 $ 42,276
Certain other
operating expenses
items
Certain
professional
services - (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (2,399) (205) 327 (1,556) 255
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted other
operating
expenses
(non-GAAP) $ 44,151 $ 43,132 $ 44,027 $ 41,471 $ 42,531
================ ================ ================ ================ ================
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings -
Year-to-Date
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
---------------- ---------------- ---------------- ---------------- ----------------
(in thousands,
except per share
data)
YEAR-TO-DATE
-------------------
Net income (loss) $ 135,235 $ 68,544 $ (397,553) $ (475,631) $ 87,161
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - 570 570 -
FDIC Deposit
Insurance
special
assessment (1,984) (1,984) - - -
Certain
professional
services 1,200 1,200 - - -
Severance/early
retirement
program costs 1,603 283 1,899 1,899 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - 801,492 801,492 -
Branch/real
estate
rightsizing
costs, net 6,630 531 3,246 3,161 1,157
Tax effect of
certain items
(1) (1,947) (8) (177,686) (177,368) (719)
---------------- ---------------- ---------------- ---------------- ----------------
Certain items,
net of tax 5,502 22 630,651 629,754 2,032
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted earnings
(non-GAAP) (2) $ 140,737 $ 68,566 $ 233,098 $ 154,123 $ 89,193
================ ================ ================ ================ ================
Diluted earnings
per share $ 0.93 $ 0.47 $ (2.95) $ (3.63) $ 0.69
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - 0.01 - -
FDIC Deposit
Insurance
special
assessment (0.01) (0.01) - - -
Certain
professional
services 0.01 0.01 - - -
Severance/early
retirement
program costs 0.01 - 0.01 0.02 0.01
Termination of
vendor and
software
services - - - - -
Loss on sale of
Equipment
Finance
business - - 0.01 - -
Loss (gain) on
sale of
securities - - 5.95 6.11 -
Branch/real
estate
rightsizing
costs, net 0.04 - 0.02 0.02 0.01
Tax effect of
certain items
(1) (0.01) - (1.32) (1.34) -
---------------- ---------------- ---------------- ---------------- ----------------
Certain items,
net of tax 0.04 - 4.68 4.81 0.02
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted diluted
earnings per
share (non-GAAP) $ 0.97 $ 0.47 $ 1.73 $ 1.18 $ 0.71
================ ================ ================ ================ ================
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities.
Effective rate of 26.135% on all other items
(2) In this press release, "Adjusted Earnings" may
also be referred to as "Adjusted Net Income."
Reconciliation of Certain Noninterest
Income and Expense Items (non-GAAP)
YEAR-TO-DATE
-------------------
Noninterest
income $ 92,136 $ 44,197 $ (615,970) $ (667,678) $ 88,509
Certain
noninterest income
items
Loss on early
extinguishment
of debt - - 570 570 -
Loss (gain) on
sale of
securities - - 801,492 801,492 -
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
income
(non-GAAP) $ 92,136 $ 44,197 $ 186,092 $ 134,384 $ 88,509
================ ================ ================ ================ ================
Other income $ 13,426 $ 4,827 $ 31,350 $ 18,985 $ 12,844
Certain other
income items
Loss on early
extinguishment
of debt - - 570 570 -
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted other
income
(non-GAAP) $ 13,426 $ 4,827 $ 31,920 $ 19,555 $ 12,844
================ ================ ================ ================ ================
Noninterest
expense $ 288,412 $ 140,673 $ 565,063 $ 425,201 $ 283,169
Certain
noninterest
expense items
Severance/early
retirement
program costs (1,603) (283) (1,899) (1,899) (1,594)
FDIC Deposit
Insurance
special
assessment 1,984 1,984 - - -
Certain
professional
services (1,200) (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (6,630) (531) (3,246) (3,161) (1,157)
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
expense
(non-GAAP) 280,963 140,643 558,788 420,141 280,418
Less: Fraud event - - (4,300) (4,300) (4,300)
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
noninterest
expense,
excluding fraud
event
(non-GAAP) $ 280,963 $ 140,643 $ 554,488 $ 415,841 $ 276,118
================ ================ ================ ================ ================
Salaries and
employee
benefits $ 151,475 $ 75,885 $ 297,859 $ 224,935 $ 148,686
Certain salaries
and employee
benefits items
Severance/early
retirement
program costs (1,603) (283) (1,899) (1,899) (1,594)
Other 4 - - - 1
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted
salaries and
employee
benefits
(non-GAAP) $ 149,876 $ 75,602 $ 295,960 $ 223,036 $ 147,093
================ ================ ================ ================ ================
Other operating
expenses $ 91,087 $ 44,537 $ 176,184 $ 131,354 $ 88,327
Certain other
operating expenses
items
Certain
professional
services (1,200) (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (2,604) (205) (1,135) (1,462) 94
---------------- ---------------- ---------------- ---------------- ----------------
Adjusted other
operating
expenses
(non-GAAP) $ 87,283 $ 43,132 $ 173,919 $ 129,892 $ 88,421
================ ================ ================ ================ ================
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial
Measures - End of Period
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
----------------- ----------------- ----------------- ----------------- -----------------
($ in thousands,
except per share
data)
Calculation of Tangible Common Equity and the Ratio of Tangible Common Equity
to Tangible Assets
Total common
stockholders'
equity $ 3,481,859 $ 3,437,734 $ 3,419,240 $ 3,353,963 $ 3,549,210
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible
assets (78,228) (81,325) (84,423) (87,520) (90,617)
----------------- ----------------- ----------------- ----------------- -----------------
Total intangibles (1,399,027) (1,402,124) (1,405,222) (1,408,319) (1,411,416)
----------------- ----------------- ----------------- ----------------- -----------------
Tangible common
stockholders'
equity $ 2,082,832 $ 2,035,610 $ 2,014,018 $ 1,945,644 $ 2,137,794
================= ================= ================= ================= =================
Total assets $ 24,776,816 $ 24,692,783 $ 24,540,877 $ 24,208,162 $ 26,693,620
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible
assets (78,228) (81,325) (84,423) (87,520) (90,617)
----------------- ----------------- ----------------- ----------------- -----------------
Total intangibles (1,399,027) (1,402,124) (1,405,222) (1,408,319) (1,411,416)
----------------- ----------------- ----------------- ----------------- -----------------
Tangible assets $ 23,377,789 $ 23,290,659 $ 23,135,655 $ 22,799,843 $ 25,282,204
================= ================= ================= ================= =================
Ratio of common
equity to assets 14.05 % 13.92 % 13.93 % 13.85 % 13.30 %
================= ================= ================= ================= =================
Ratio of tangible
common equity to
tangible assets 8.91 % 8.74 % 8.71 % 8.53 % 8.46 %
================= ================= ================= ================= =================
Calculation of
Tangible Book Value
per Share
Total common
stockholders'
equity $ 3,481,859 $ 3,437,734 $ 3,419,240 $ 3,353,963 $ 3,549,210
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible
assets (78,228) (81,325) (84,423) (87,520) (90,617)
----------------- ----------------- ----------------- ----------------- -----------------
Total intangibles (1,399,027) (1,402,124) (1,405,222) (1,408,319) (1,411,416)
----------------- ----------------- ----------------- ----------------- -----------------
Tangible common
stockholders'
equity $ 2,082,832 $ 2,035,610 $ 2,014,018 $ 1,945,644 $ 2,137,794
================= ================= ================= ================= =================
Shares of common
stock outstanding 144,442,482 145,058,331 144,762,817 144,703,075 125,996,248
================= ================= ================= ================= =================
Book value per
common share $ 24.11 $ 23.70 $ 23.62 $ 23.18 $ 28.17
================= ================= ================= ================= =================
Tangible book value
per common share $ 14.42 $ 14.03 $ 13.91 $ 13.45 $ 16.97
================= ================= ================= ================= =================
Calculation of Coverage Ratio of
Uninsured, Non-Collateralized Deposits
Uninsured deposits
at Simmons Bank $ 7,213,361 $ 7,385,688 $ 9,640,677 $ 9,565,766 $ 8,407,847
Less: Collateralized
deposits (excluding
portion that is
FDIC insured) 2,385,340 2,509,728 2,363,327 2,169,362 2,691,215
Less: Intercompany
eliminations 324,404 432,795 2,729,191 2,937,147 1,121,932
----------------- ----------------- ----------------- ----------------- -----------------
Total uninsured,
non-collateralized
deposits $ 4,503,617 $ 4,443,165 $ 4,548,159 $ 4,459,257 $ 4,594,700
================= ================= ================= ================= =================
FHLB borrowing
availability $ 5,412,000 $ 5,831,000 $ 5,999,000 $ 6,134,000 $ 5,133,000
Unpledged securities 1,488,000 1,571,000 1,480,000 1,575,000 3,697,000
Fed funds lines, Fed
discount window and
Bank Term Funding
Program (1) 1,953,000 1,595,000 1,836,000 1,824,000 1,894,000
----------------- ----------------- ----------------- ----------------- -----------------
Additional
liquidity sources $ 8,853,000 $ 8,997,000 $ 9,315,000 $ 9,533,000 $ 10,724,000
================= ================= ================= ================= =================
Uninsured,
non-collateralized
deposit coverage
ratio 2.0 2.0 2.0 2.1 2.3
================= ================= ================= ================= =================
(1) The Bank Term Funding Program closed for new loans on March 11, 2024. At
no time did Simmons borrow funds under this program.
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial
Measures - Quarter-to-Date
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
------------------- ------------------- ------------------- ------------------- -------------------
($ in thousands)
Calculation of Adjusted Return on
Average Assets & Average Tangible
Assets
Net income (loss) $ 66,691 $ 68,544 $ 78,078 $ (562,792) $ 54,773
Amortization of
intangibles, net
of taxes 2,287 2,288 2,288 2,287 2,289
------------------- ------------------- ------------------- ------------------- -------------------
Total adjusted
tangible net
income
(non-GAAP) $ 68,978 $ 70,832 $ 80,366 $ (560,505) $ 57,062
=================== =================== =================== =================== ===================
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - - 570 -
FDIC Deposit
Insurance
special
assessment - (1,984) - - -
Certain
professional
services - 1,200 - - -
Severance/early
retirement
program costs 1,320 283 - 305 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - - 801,492 -
Branch/real
estate
rightsizing
costs, net 6,099 531 85 2,004 163
Tax effect of
certain items
(1) (1,939) (8) (318) (176,649) (459)
------------------- ------------------- ------------------- ------------------- -------------------
Adjusted earnings
(non-GAAP) 72,171 68,566 78,975 64,930 56,071
Amortization of
intangibles, net
of taxes 2,287 2,288 2,288 2,287 2,289
------------------- ------------------- ------------------- ------------------- -------------------
Total adjusted
tangible net
income
(non-GAAP) $ 74,458 $ 70,854 $ 81,263 $ 67,217 $ 58,360
=================== =================== =================== =================== ===================
Average total
assets $ 24,638,021 $ 24,533,005 $ 24,254,447 $ 24,914,922 $ 26,645,131
Average
intangible
assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other
intangibles (80,123) (83,248) (86,206) (89,349) (92,432)
------------------- ------------------- ------------------- ------------------- -------------------
Total average
intangibles (1,400,922) (1,404,047) (1,407,005) (1,410,148) (1,413,231)
------------------- ------------------- ------------------- ------------------- -------------------
Average tangible
assets
(non-GAAP) $ 23,237,099 $ 23,128,958 $ 22,847,442 $ 23,504,774 $ 25,231,900
=================== =================== =================== =================== ===================
Return on average
assets 1.09 % 1.13 % 1.28 % -8.96 % 0.82 %
=================== =================== =================== =================== ===================
Adjusted return
on average
assets
(non-GAAP) 1.17 % 1.13 % 1.29 % 1.03 % 0.84 %
=================== =================== =================== =================== ===================
Return on average
tangible assets
(non-GAAP) 1.19 % 1.24 % 1.40 % -9.46 % 0.91 %
=================== =================== =================== =================== ===================
Adjusted return
on average
tangible assets
(non-GAAP) 1.29 % 1.24 % 1.41 % 1.13 % 0.93 %
=================== =================== =================== =================== ===================
Calculation of
Return on
Tangible Common
Equity
Net income
(loss) available
to common
stockholders $ 66,691 $ 68,544 $ 78,078 $ (562,792) $ 54,773
Amortization of
intangibles, net
of taxes 2,287 2,288 2,288 2,287 2,289
------------------- ------------------- ------------------- ------------------- -------------------
Total income
available to
common
stockholders $ 68,978 $ 70,832 $ 80,366 $ (560,505) $ 57,062
=================== =================== =================== =================== ===================
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - - 570 -
FDIC Deposit
Insurance
special
assessment - (1,984) - - -
Certain
professional
services - 1,200 - - -
Severance/early
retirement
program costs 1,320 283 - 305 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - - 801,492 -
Branch/real
estate
rightsizing
costs, net 6,099 531 85 2,004 163
Tax effect of
certain items
(1) (1,939) (8) (318) (176,649) (459)
------------------- ------------------- ------------------- ------------------- -------------------
Adjusted earnings
(non-GAAP) 72,171 68,566 78,975 64,930 56,071
Amortization of
intangibles, net
of taxes 2,287 2,288 2,288 2,287 2,289
------------------- ------------------- ------------------- ------------------- -------------------
Total adjusted
earnings
available to
common
stockholders
(non-GAAP) $ 74,458 $ 70,854 $ 81,263 $ 67,217 $ 58,360
=================== =================== =================== =================== ===================
Average common
stockholders'
equity $ 3,478,531 $ 3,470,260 $ 3,410,017 $ 3,368,308 $ 3,546,163
Average
intangible
assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other
intangibles (80,123) (83,248) (86,206) (89,349) (92,432)
------------------- ------------------- ------------------- ------------------- -------------------
Total average
intangibles (1,400,922) (1,404,047) (1,407,005) (1,410,148) (1,413,231)
------------------- ------------------- ------------------- ------------------- -------------------
Average tangible
common
stockholders'
equity
(non-GAAP) $ 2,077,609 $ 2,066,213 $ 2,003,012 $ 1,958,160 $ 2,132,932
=================== =================== =================== =================== ===================
Return on average
common equity 7.69 % 8.01 % 9.08 % -66.29 % 6.20 %
=================== =================== =================== =================== ===================
Return on
tangible common
equity 13.32 % 13.90 % 15.92 % -113.56 % 10.73 %
=================== =================== =================== =================== ===================
Adjusted return
on average
common equity
(non-GAAP) 8.32 % 8.01 % 9.19 % 7.65 % 6.34 %
=================== =================== =================== =================== ===================
Adjusted return
on tangible
common equity
(non-GAAP) 14.37 % 13.91 % 16.10 % 13.62 % 10.97 %
=================== =================== =================== =================== ===================
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities.
Effective rate of 26.135% on all other items.
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures -
Quarter-to-Date (continued)
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
------------------ ------------------ ------------------ ------------------- -------------------
($ in thousands)
Calculation of
Efficiency Ratio
and Adjusted
Efficiency Ratio
(1)
Noninterest
expense
(efficiency ratio
numerator) $ 147,739 $ 140,673 $ 139,862 $ 142,032 $ 138,589
Certain
noninterest
expense items
(non-GAAP)
Severance/early
retirement
program costs (1,320) (283) - (305) (1,594)
FDIC Deposit
Insurance
special
assessment - 1,984 - - -
Certain
professional
services - (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (6,099) (531) (85) (2,004) (163)
Other real estate
and foreclosure
expense
adjustment (695) (315) (432) (200) (216)
Amortization of
intangibles
adjustment (3,097) (3,097) (3,097) (3,097) (3,098)
------------------ ------------------ ------------------ ------------------- -------------------
Adjusted
efficiency ratio
numerator $ 136,528 $ 137,231 $ 135,118 $ 136,426 $ 133,518
================== ================== ================== =================== ===================
Net interest
income $ 200,627 $ 197,168 $ 197,296 $ 186,661 $ 171,824
Noninterest income 47,939 44,197 51,708 (756,187) 42,354
Fully
tax-equivalent
adjustment (2) 3,029 3,012 2,890 3,811 6,422
------------------ ------------------ ------------------ ------------------- -------------------
Efficiency ratio
denominator 251,595 244,377 251,894 (565,715) 220,600
Certain
noninterest income
items (non-GAAP)
Loss on early
extinguishment
of debt - - - 570 -
(Gain) loss on
sale of
securities - - - 801,492 -
------------------ ------------------ ------------------ ------------------- -------------------
Adjusted
efficiency ratio
denominator $ 251,595 $ 244,377 $ 251,894 $ 236,347 $ 220,600
Efficiency ratio
(1) 58.72 % 57.56 % 55.52 % -25.11 % 62.82 %
================== ================== ================== =================== ===================
Adjusted
efficiency ratio
(non-GAAP) (1) 54.26 % 56.16 % 53.64 % 57.72 % 60.52 %
================== ================== ================== =================== ===================
Calculation of
Total Revenue and
Adjusted Total
Revenue
Net interest
income $ 200,627 $ 197,168 $ 197,296 $ 186,661 $ 171,824
Noninterest income 47,939 44,197 51,708 (756,187) 42,354
------------------ ------------------ ------------------ ------------------- -------------------
Total revenue 248,566 241,365 249,004 (569,526) 214,178
Certain items,
pre-tax
(non-GAAP)
Plus: Loss on
early
extinguishment
of debt - - - 570 -
Less: Gain (loss)
on sale of
securities - - - (801,492) -
------------------ ------------------ ------------------ ------------------- -------------------
Adjusted total
revenue $ 248,566 $ 241,365 $ 249,004 $ 232,536 $ 214,178
================== ================== ================== =================== ===================
Calculation of
Pre-Provision Net
Revenue (PPNR)
Net interest
income $ 200,627 $ 197,168 $ 197,296 $ 186,661 $ 171,824
Noninterest income 47,939 44,197 51,708 (756,187) 42,354
------------------ ------------------ ------------------ ------------------- -------------------
Total revenue 248,566 241,365 249,004 (569,526) 214,178
Less: Noninterest
expense 147,739 140,673 139,862 142,032 138,589
------------------ ------------------ ------------------ ------------------- -------------------
Pre-Provision Net
Revenue (PPNR) $ 100,827 $ 100,692 $ 109,142 $ (711,558) $ 75,589
================== ================== ================== =================== ===================
Calculation of
Adjusted
Pre-Provision Net
Revenue
Pre-Provision Net
Revenue (PPNR) $ 100,827 $ 100,692 $ 109,142 $ (711,558) $ 75,589
Certain items,
pre-tax
(non-GAAP)
Plus: Loss on
early
extinguishment
of debt - - - 570 -
Plus: Loss (gain)
on sale of
securities - - - 801,492 -
Plus: FDIC
Deposit
Insurance
special
assessment - (1,984) - - -
Plus: Certain
professional
services - 1,200 - - -
Plus:
Severance/early
retirement
program costs 1,320 283 - 305 1,594
Plus: Termination
of vendor and
software
services - - 12 - -
Plus: Loss on
sale of
Equipment
Finance
business - - 1,118 - -
Plus: Branch/real
estate
rightsizing
costs, net 6,099 531 85 2,004 163
------------------ ------------------ ------------------ ------------------- -------------------
Adjusted
Pre-Provision Net
Revenue $ 108,246 $ 100,722 $ 110,357 $ 92,813 $ 77,346
================== ================== ================== =================== ===================
(1) Efficiency ratio is noninterest expense as a percent of net interest
income (fully taxable equivalent} and noninterest revenues. Adjusted
efficiency ratio is noninterest expense before foreclosed property expense,
amortization of intangibles and certain adjusting items as a percent of net
interest income (fully taxable equivalent) and noninterest revenues, excluding
gains and losses from securities transactions and certain adjusting items, and
is a non-GAAP measurement.
(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective
rate of 26.135% on all other items.
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial
Measures - Year-to-Date
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
------------------ ------------------- ------------------- ------------------- -------------------
($ in thousands)
Calculation of Adjusted Return on
Average Assets & Average Tangible
Assets
Net income (loss) $ 135,235 $ 68,544 $ (397,553) $ (475,631) $ 87,161
Amortization of
intangibles, net
of taxes 4,575 2,288 9,469 7,181 4,894
------------------ ------------------- ------------------- ------------------- -------------------
Total adjusted
tangible net
income
(non-GAAP) $ 139,810 $ 70,832 $ (388,084) $ (468,450) $ 92,055
================== =================== =================== =================== ===================
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - 570 570 -
FDIC Deposit
Insurance
special
assessment (1,984) (1,984) - - -
Certain
professional
services 1,200 1,200 - - -
Severance/early
retirement
program costs 1,603 283 1,899 1,899 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - 801,492 801,492 -
Branch/real
estate
rightsizing
costs, net 6,630 531 3,246 3,161 1,157
Tax effect of
certain items
(1) (1,947) (8) (177,686) (177,368) (719)
------------------ ------------------- ------------------- ------------------- -------------------
Adjusted earnings
(non-GAAP) 140,737 68,566 233,098 154,123 89,193
Amortization of
intangibles, net
of taxes 4,575 2,288 9,469 7,181 4,894
------------------ ------------------- ------------------- ------------------- -------------------
Total adjusted
tangible net
income
(non-GAAP) $ 145,312 $ 70,854 $ 242,567 $ 161,304 $ 94,087
================== =================== =================== =================== ===================
Average total
assets $ 24,585,803 $ 24,533,005 $ 25,614,700 $ 26,073,100 $ 26,661,787
Average
intangible
assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other
intangibles (81,677) (83,248) (90,913) (92,499) (94,100)
------------------ ------------------- ------------------- ------------------- -------------------
Total average
intangibles (1,402,476) (1,404,047) (1,411,712) (1,413,298) (1,414,899)
------------------ ------------------- ------------------- ------------------- -------------------
Average tangible
assets
(non-GAAP) $ 23,183,327 $ 23,128,958 $ 24,202,988 $ 24,659,802 $ 25,246,888
================== =================== =================== =================== ===================
Return on average
assets 1.11 % 1.13 % -1.55 % -2.44 % 0.66 %
================== =================== =================== =================== ===================
Adjusted return
on average
assets
(non-GAAP) 1.15 % 1.13 % 0.91 % 0.79 % 0.67 %
================== =================== =================== =================== ===================
Return on average
tangible assets
(non-GAAP) 1.22 % 1.24 % -1.60 % -2.54 % 0.74 %
================== =================== =================== =================== ===================
Adjusted return
on average
tangible assets
(non-GAAP) 1.26 % 1.24 % 1.00 % 0.87 % 0.75 %
================== =================== =================== =================== ===================
Calculation of
Return on
Tangible Common
Equity
Net income
(loss) available
to common
stockholders $ 135,235 $ 68,544 $ (397,553) $ (475,631) $ 87,161
Amortization of
intangibles, net
of taxes 4,575 2,288 9,469 7,181 4,894
------------------ ------------------- ------------------- ------------------- -------------------
Total income
available to
common
stockholders $ 139,810 $ 70,832 $ (388,084) $ (468,450) $ 92,055
================== =================== =================== =================== ===================
Certain items
(non-GAAP)
Loss on early
extinguishment
of debt - - 570 570 -
FDIC Deposit
Insurance
special
assessment (1,984) (1,984) - - -
Certain
professional
services 1,200 1,200 - - -
Severance/early
retirement
program costs 1,603 283 1,899 1,899 1,594
Termination of
vendor and
software
services - - 12 - -
Loss on sale of
Equipment
Finance
business - - 1,118 - -
Loss (gain) on
sale of
securities - - 801,492 801,492 -
Branch/real
estate
rightsizing
costs, net 6,630 531 3,246 3,161 1,157
Tax effect of
certain items
(1) (1,947) (8) (177,686) (177,368) (719)
------------------ ------------------- ------------------- ------------------- -------------------
Adjusted earnings
(non-GAAP) 140,737 68,566 233,098 154,123 89,193
Amortization of
intangibles, net
of taxes 4,575 2,288 9,469 7,181 4,894
------------------ ------------------- ------------------- ------------------- -------------------
Total adjusted
earnings
available to
common
stockholders
(non-GAAP) $ 145,312 $ 70,854 $ 242,567 $ 161,304 $ 94,087
================== =================== =================== =================== ===================
Average common
stockholders'
equity $ 3,474,419 $ 3,470,260 $ 3,471,531 $ 3,492,261 $ 3,555,265
Average
intangible
assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other
intangibles (81,677) (83,248) (90,913) (92,499) (94,100)
------------------ ------------------- ------------------- ------------------- -------------------
Total average
intangibles (1,402,476) (1,404,047) (1,411,712) (1,413,298) (1,414,899)
------------------ ------------------- ------------------- ------------------- -------------------
Average tangible
common
stockholders'
equity
(non-GAAP) $ 2,071,943 $ 2,066,213 $ 2,059,819 $ 2,078,963 $ 2,140,366
================== =================== =================== =================== ===================
Return on average
common equity 7.85 % 8.01 % -11.45 % -18.21 % 4.94 %
================== =================== =================== =================== ===================
Return on
tangible common
equity 13.61 % 13.90 % -18.84 % -30.13 % 8.67 %
================== =================== =================== =================== ===================
Adjusted return
on average
common equity
(non-GAAP) 8.17 % 8.01 % 6.71 % 5.90 % 5.06 %
================== =================== =================== =================== ===================
Adjusted return
on tangible
common equity
(non-GAAP) 14.14 % 13.91 % 11.78 % 10.37 % 8.86 %
================== =================== =================== =================== ===================
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective
rate of 26.135% on all other items.
Simmons First
National
Corporation SFNC
Reconciliation Of Non-GAAP Financial
Measures - Year-to-Date
For the Quarters
Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30
(Unaudited) 2026 2026 2025 2025 2025
------------------ ------------------ ------------------ ------------------ ------------------
($ in thousands)
Calculation of
Efficiency Ratio
and Adjusted
Efficiency Ratio
(1)
Noninterest
expense
(efficiency ratio
numerator) $ 288,412 $ 140,673 $ 565,063 $ 425,201 $ 283,169
Certain
noninterest
expense items
(non-GAAP)
Severance/early
retirement
program costs (1,603) (283) (1,899) (1,899) (1,594)
FDIC Deposit
Insurance
special
assessment 1,984 1,984 - - -
Certain
professional
services (1,200) (1,200) - - -
Termination of
vendor and
software
services - - (12) - -
Loss on sale of
Equipment
Finance
business - - (1,118) - -
Branch/real
estate
rightsizing
costs (6,630) (531) (3,246) (3,161) (1,157)
Other real estate
and foreclosure
expense
adjustment (1,003) (308) (1,046) (614) (414)
Amortization of
intangibles
adjustment (6,194) (3,097) (12,819) (9,722) (6,625)
------------------ ------------------ ------------------ ------------------ ------------------
Adjusted
efficiency ratio
numerator $ 273,766 $ 137,238 $ 544,923 $ 409,805 $ 273,379
================== ================== ================== ================== ==================
Net interest
income $ 397,795 $ 197,168 $ 719,203 $ 521,907 $ 335,246
Noninterest income 92,136 44,197 (615,970) (667,678) 88,509
Fully
tax-equivalent
adjustment (2) 6,041 3,012 19,537 16,647 12,836
------------------ ------------------ ------------------ ------------------ ------------------
Efficiency ratio
denominator 495,972 244,377 122,770 (129,124) 436,591
Certain
noninterest income
items (non-GAAP)
Loss on early
extinguishment
of debt - - 570 570 -
(Gain) loss on
sale of
securities - - 801,492 801,492 -
------------------ ------------------ ------------------ ------------------ ------------------
Adjusted
efficiency ratio
denominator $ 495,972 $ 244,377 $ 924,832 $ 672,938 $ 436,591
================== ================== ================== ================== ==================
Efficiency ratio
(1) 58.15 % 57.56 % 460.26 % -329.30 % 64.86 %
================== ================== ================== ================== ==================
Adjusted
efficiency ratio
(non-GAAP) (1) 55.20 % 56.16 % 58.92 % 60.90 % 62.62 %
================== ================== ================== ================== ==================
(1) Efficiency ratio is noninterest expense as a percent of net interest
income (fully taxable equivalent) and noninterest revenues. Adjusted
efficiency ratio is noninterest expense before foreclosed property expense,
amortization of intangibles and certain adjusting items as a percent of net
interest ncome (fully taxable equivalent) and noninterest revenues, excluding
gains and losses from securities transactions and certain adjusting items, and
is a non-GAAP measurement.
(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective
rate of 26.135% on all other items.
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SOURCE Simmons First National Corporation
(END) Dow Jones Newswires
July 16, 2026 16:39 ET
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