Simmons First National Corporation Reports Second Quarter Results

Simmons First National Corporation Reports Second Quarter Results

PR Newswire

PINE BLUFF, Ark., July 16, 2026

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

Financial Highlights2Q261Q262Q252Q26 HighlightsIncome Statement Summary (in millions)Comparisons reflect 2Q26 vs 1Q26 unless otherwise notedNet income of $66.7 million and diluted EPS of $0.46Adjusted net income1 of $72.2 million and adjusted diluted EPS1 of $0.50ROAA of 1.09% and ROE of 7.69%Adjusted ROAA1 of 1.17%; adjusted ROTCE1 of 14.37%Total revenue of $248.6 millionand PPNR1 of $100.8 millionNet interest margin unchanged at 3.84%; cost of deposits down3 bps to 1.93%Efficiency ratio of 58.72%;adjusted efficiency ratio1 of54.26%Unfunded commitments up 8%Noninterest bearing deposits up 6% annualizedProvision expense exceeded net charge-offs by $8.3 millionNCO ratio at 20 bps for 2Q26; ACL at 1.32%Repurchased 0.7 million sharesduring the quarterTotal revenue$ 248.6$ 241.4$214.2Adjusted total revenue1248.6241.4214.2Pre-provision net revenue1 (PPNR)100.8100.775.6Adjusted pre-provision net revenue1108.2100.777.3Provision for credit losses17.414.611.9Net income66.768.554.8Adjusted net income172.268.656.1Per Share DataDiluted earnings$ 0.46$ 0.47$ 0.43Adjusted diluted earnings10.500.470.44Cash dividend declared0.21500.21500.2125Balance Sheet (in millions)Total loans$18,062$17,933$17,111Total deposits19,72820,20321,825Total assets24,77724,69326,694Total shareholders' equity3,4823,4383,549Asset QualityNet charge-off ratio (NCO ratio)0.20 %0.21 %0.25 %Allowance for credit losses to loans (ACL)1.321.281.48Capital RatiosEquity to assets (EA) ratio14.05 %13.92 %13.30 %Tangible common equity (TCE) ratio18.918.748.46Common equity tier 1 (CET1) ratio11.6011.5812.36Total risk-based capital ratio14.3514.3614.42Other RatiosReturn on average assets1.09 %1.13 %0.82 %Adjusted return on average assets11.171.130.84Return on average common equity7.698.016.20Return on average tangible common equity113.3213.9010.73Adj. return onavg. tangible common equity114.3713.9110.97Net interest margin (FTE)23.843.843.06Efficiency ratio58.7257.5662.82Adjusted efficiency ratio154.2656.1660.52Jay Brogdon, Simmons' President and CEO, commented on second quarter 2026 results:"Simmons delivered continued expansion in returns in the second quarter, reflecting revenue growth coupled with disciplined expense control. Committed loan production reached $1.8 billion, its highest quarterly level in almost four years, partially offset by expected paydowns, while our focus on disciplined loan and deposit pricing supported a stable net interest margin. Underlying trends in asset quality remain constructive, with net charge-offs of 20 basis points, provision expense exceeding net charge-offs by $8.3 million and continued positive trends in classified and criticized loans, even as we manage a single relationship that fully migrated to nonperforming in the second quarter. During the quarter, the continued execution of efficiency initiatives more than funded our investments in the business, reflecting ongoing progress of our continuous improvement mindset. These actions included the elimination of certain positions and further optimization of our real estate footprint through meaningful square footage reductions. As we look to the remainder of the year, we expect to sharpen our focus on the disciplined execution of these types of initiatives, which we believe will more than fund additional investments designed to further enhance the quality and sustainability of our organic growth outlook." Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $66.7 million for the second quarter of 2026, compared to net income of $68.5 million for the first quarter of 2026 and $54.8 million for the second quarter of 2025. Diluted earnings per share were $0.46 for the second quarter of 2026, compared to $0.47 for the first quarter of 2026 and $0.43 for the second quarter of 2025. Adjusted earnings1 for the second quarter of 2026 were $72.2 million, compared to $68.6 million for the first quarter of 2026 and $56.1 million for the second quarter of 2025. Adjusted diluted earnings per share1 for the second quarter of 2026 were $0.50, compared to $0.47 for the first quarter of 2026 and $0.44 for the second quarter of 2025.For the second quarter of 2026, return on average assets was 1.09 percent and return on average common equity was 7.69 percent. Adjusted return on average assets1 was 1.17 percent and adjusted return on average tangible common equity1 was 14.37 percent. The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.Impact of Certain Items on Earnings and Diluted Earnings Per Share (EPS)$ in millions, except per share data2Q261Q262Q25Net income$ 66.7$ 68.5$ 54.8Branch/real estate rightsizing costs, net6.10.60.2Severance/early retirement program costs1.30.31.6FDIC deposit insurance special assessment-(2.0)-Certain professional services-1.2- Total pre-tax impact7.40.11.8Tax effect(1.9)-(0.5) Total impact on earnings5.50.11.3Adjusted earnings1, 3$ 72.2$ 68.6$ 56.1Diluted EPS$ 0.46$ 0.47$ 0.43Branch/real estate rightsizing costs, net0.04--Severance/early retirement program costs0.01-0.01FDIC deposit insurance special assessment-(0.01)-Certain professional services-0.01- Total pre-tax impact0.05-0.01Tax effect(0.01)-- Total impact on earnings0.04-0.01Adjusted Diluted EPS1$ 0.50$ 0.47$ 0.44Net Interest IncomeNet interest income for the second quarter of 2026 totaled $200.6 million, up $3.5 million, or 7 percent annualized, compared to $197.2 million for the first quarter of 2026 and up $28.8 million, or 17 percent, compared to $171.8 million for the second quarter of 2025. The increase in net interest income on a linked quarter basis was primarily due to a $5.9 million increase in interest income, driven by a $7.0 million increase in loan interest income, offset in part by a $2.4 million increase in interest expense. The increase in net interest income on a year-over-year basis was primarily due to a $36.1 million decrease in interest expense, which included a $30.8 million decrease in interest bearing deposit costs and a $5.3 million decrease in the cost of other interest bearing liabilities. The decrease in interest expense compared to the prior year quarter reflected a reduction in wholesale funding as a result of the balance sheet repositioning completed in the third quarter of 2025, as well as a lower interest rate environment.Net interest margin for the second quarter of 2026 on a fully taxable equivalent (FTE) basis2 was 3.84 percent, unchanged from first quarter 2026 levels and up 78 basis points compared to 3.06 percent for the second quarter of 2025. The increase in net interest margin on a year-over-year basis primarily reflected the balance sheet repositioning that was completed during the third quarter of 2025.Select Yield/Rates2Q26 1Q264Q25 3Q252Q25Loan yield (FTE)26.15 %6.16 %6.23 %6.31 %6.26 %Investment securities yield (FTE)24.264.254.304.013.48Cost of interest bearing deposits2.462.472.622.862.97Cost of deposits1.931.962.042.252.36Net interest spread (FTE)23.263.273.182.862.41Net interest margin (FTE)23.843.843.813.503.06Noninterest IncomeNoninterest 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 millions2Q261Q264Q253Q252Q25Service charges on deposit accounts$ 12.3$ 12.7$ 12.7$ 13.0$ 12.6Wealth management fees10.210.510.310.09.5Debit and credit card fees9.08.58.78.58.6Mortgage lending income2.01.92.22.31.7Other service charges and fees1.61.61.51.51.3Bank owned life insurance4.24.23.93.93.9Gain (loss) on sale of securities---(801.5)-Other income8.64.812.46.14.8 Total noninterest income$ 47.9$ 44.2$ 51.7$(756.2)$ 42.4Adjusted noninterest income1$ 47.9$ 44.2$ 51.7$ 45.9$ 42.4Noninterest ExpenseNoninterest expense for the second quarter of 2026 was $147.7 million, compared to $140.7 million in the first quarter of 2026 and $138.6 million in the second quarter of 2025. Included in noninterest expense are certain items consisting of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. Collectively, these items totaled $7.4 million in the second quarter of 2026, $30 thousand in the first quarter of 2026 and $1.8 million in the second quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense1 was $140.3 million in the second quarter of 2026, $140.6 million in the first quarter of 2026 and $136.8 million in the second quarter of 2025. The efficiency ratio for the second quarter of 2026 was 58.72 percent, compared to 57.56 percent for the first quarter of 2026 and 62.82 percent for the second quarter of 2025. The adjusted efficiency ratio1 was 54.26 percent for the second quarter of 2026, compared to 56.16 percent for the first quarter of 2026 and 60.52 percent for the second quarter of 2025.Noninterest Expense$ in millions 2Q26 1Q264Q253Q252Q25Salaries and employee benefits$ 75.6$ 75.9$ 72.9$ 76.2$ 73.9Occupancy expense, net14.712.211.612.111.8Furniture and equipment5.75.45.35.35.5Deposit insurance4.52.34.75.24.9Other real estate and foreclosure expense0.70.30.40.20.2Other operating expenses46.644.544.843.042.3 Total noninterest expense$147.7$140.7$139.9$142.0$138.6Adjusted salaries and employee benefits1$ 74.3$ 75.6$ 72.9$ 75.9$ 72.3Adjusted other operating expenses144.243.144.041.542.5Adjusted noninterest expense1140.3140.6138.6139.7136.8Efficiency ratio58.72 %57.56 %55.52 %(25.11) %62.82 %Adjusted efficiency ratio154.2656.1653.6457.7260.52Full-time equivalent employees2,9092,9132,9172,8832,947Number of financial centers220221222223223Loans and Unfunded Loan CommitmentsTotal 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 millions2Q261Q264Q253Q252Q25Total loans$18,062$17,933$17,492$17,189$17,111Unfunded loan commitments4,3844,0683,8713,9553,947Deposits and Other BorrowingsTotal 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 2Q25Noninterest bearing deposits$ 4,350$ 4,290$ 4,330$ 4,377$ 4,468Interest bearing transaction accounts10,33210,66710,45310,28910,532Time deposits3,2333,3343,5083,3313,588Brokered deposits1,8131,9121,8931,8413,237 Total deposits$19,728$20,203$20,184$19,838$21,825Noninterest bearing deposits to total deposits22 %21 %21 %22 %20 %Total loans to total deposits9289878778Asset QualityProvision 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 1Q264Q253Q252Q25Allowance for credit losses on loans to total loans1.32 %1.28 %1.28 %1.50 %1.48 %Allowance for credit losses on loans to nonperforming loans143162199168161Nonperforming loans to total loans0.920.790.640.900.92Net charge-off ratio (annualized)0.200.211.120.250.25Net charge-off ratio YTD (annualized)0.210.210.470.240.24Loans past due 30-89 days to total loans0.290.510.270.110.17Total nonperforming loans$166.1$141.9$112.7$153.9$157.2Total other nonperforming assets11.112.612.46.89.5 Total nonperforming assets$177.2$154.5$125.1$160.7$166.7Reserve for unfunded commitments$25.6$25.6$25.6$25.6$25.6CapitalTotal stockholders' equity at the end of the second quarter of 2026 was $3.5 billion, compared to $3.4 billion at the end of the first quarter of 2026 and $3.5 billion at the end of the second quarter of 2025. Book value per share at the end of the second quarter of 2026 was $24.11, compared to $23.70 at the end of the first quarter of 2026 and $28.17 at the end of the second quarter of 2025. Tangible book value per share1 at the end of the second quarter of 2026 was $14.42, compared to $14.03 at the end of the first quarter of 2026 and $16.97 at the end of the second quarter of 2025. The increase in book value per share and tangible book value per share on a linked quarter basis was primarily due to a $35.6 million increase in undivided profits. The year-over-year decline in book value per share and tangible book value per share was primarily due to the balance sheet repositioning completed in the third quarter of 2025.Total stockholders' equity as a percentage of total assets at the end of the second quarter of 2026 was 14.1 percent, compared to 13.9 percent at the end of first quarter of 2026 and 13.3 percent at the end of the second quarter of 2025. Tangible common equity as a percentage of tangible assets1 was 8.9 percent at the end of the second quarter of 2026, compared to 8.7 percent at the end of the first quarter of 2026 and 8.5 percent at the end of the second quarter of 2025. Both Simmons and its principal subsidiary, Simmons Bank, continue to maintain regulatory capital ratios significantly above "well-capitalized" regulatory guidelines.Select Capital Ratios2Q261Q264Q253Q252Q25Stockholders' equity to total assets14.1 %13.9 %13.9 %13.9 %13.3 %Tangible common equity to tangible assets18.98.78.78.58.5Common equity tier 1 (CET1) ratio11.611.611.611.512.4Tier 1 leverage ratio10.210.110.19.610.0Tier 1 risk-based capital ratio11.611.611.611.512.4Total risk-based capital ratio14.414.414.415.114.4Share 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 CallManagement 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 CorporationSimmons 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 MeasuresThis 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 StatementsCertain 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)20262026202520252025($ 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 sold211,882205,880331,474266,013246,381 Cash and cash equivalents589,484548,483711,913643,617644,462 Interest bearing balances due from banks - time100100100100100 Investment securities - held-to-maturity----3,591,531 Investment securities - available-for-sale3,077,1813,152,2863,266,2213,319,2772,405,320 Mortgage loans held for sale16,45014,31117,43815,50716,972 Assets held in trading accounts14,54114,54311,68512,695- Loans: Loans18,062,36917,932,88317,492,17917,188,81717,111,096 Allowance for credit losses on loans(238,227)(229,908)(224,377)(258,006)(253,537) Net loans17,824,14217,702,97517,267,80216,930,81116,857,559 Premises and equipment552,435557,873561,220568,343573,160 Foreclosed assets and other real estate owned11,08012,47512,0096,3868,794 Interest receivable103,016101,557104,062104,383120,443 Bank owned life insurance545,252542,486540,001539,372535,481 Goodwill1,320,7991,320,7991,320,7991,320,7991,320,799 Other intangible assets78,22881,32584,42387,52090,617 Other assets644,108643,570643,204659,352528,382 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 deposits11,133,26511,311,97911,141,16910,932,91411,176,791 Time deposits4,244,3714,601,1074,712,6584,527,5876,179,962 Total deposits19,728,11020,202,78320,184,03819,837,73321,824,990 Federal funds purchased and securities sold under agreements to repurchase46,2168,70821,38322,34831,306 Other borrowings941,256446,756302,25318,832634,349 Subordinated notes and debentures312,028315,700317,714648,976366,369 Accrued interest and other liabilities267,347281,102296,249326,310287,396 Total liabilities21,294,95721,255,04921,121,63720,854,19923,144,410 Stockholders' equity: Common stock1,4441,4511,4481,4471,260 Surplus2,837,8452,848,9522,846,5812,848,9772,518,286 Undivided profits937,307901,696864,341817,0221,410,564 Accumulated other comprehensive (loss) income(294,737)(314,365)(293,130)(313,483)(380,900) Total stockholders' equity3,481,8593,437,7343,419,2403,353,9633,549,210 Total liabilities and stockholders' equity$ 24,776,816$ 24,692,783$ 24,540,877$ 24,208,162$ 26,693,620Simmons First National Corporation SFNC Consolidated Statements of Income - Quarter-to-Date For the Quarters EndedJun 30Mar 31Dec 31Sep 30Jun 30 (Unaudited)20262026202520252025($ 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 sold2,0582,3202,4856,4212,531 Investment securities31,01331,88233,83337,46446,898 Mortgage loans held for sale202203227229221 Assets held in trading accounts13612211899- TOTAL INTEREST INCOME307,680301,814307,531313,423315,023 INTEREST EXPENSE Time deposits36,99639,94941,98949,06457,231 Other deposits58,53657,65360,51667,54669,108 Federal funds purchased and securities- sold under agreements to repurchase42636577259 Other borrowings5,8731,7462,1382,95710,613 Subordinated notes and debentures5,2225,2625,5357,1236,188 TOTAL INTEREST EXPENSE107,053104,646110,235126,762143,199 NET INTEREST INCOME200,627197,168197,296186,661171,824 PROVISION FOR CREDIT LOSSES Provision for credit losses on loans17,43414,62215,11615,18011,945 Provision for credit losses on investment securities - HTM---(3,214)- TOTAL PROVISION FOR CREDIT LOSSES17,43414,62215,11611,96611,945 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES183,193182,546182,180174,695159,879 NONINTEREST INCOME Service charges on deposit accounts12,32912,65612,66913,04512,588 Debit and credit card fees9,0088,5038,6608,4788,567 Wealth management fees10,24010,53310,3379,9659,464 Mortgage lending income1,9941,8542,2322,2591,687 Bank owned life insurance income4,2184,2183,9423,9433,890 Other service charges and fees (includes insurance income)1,5511,6061,5031,4741,321 Gain (loss) on sale of securities---(801,492)- Other income8,5994,82712,3656,1414,837 TOTAL NONINTEREST INCOME47,93944,19751,708(756,187)42,354 NONINTEREST EXPENSE Salaries and employee benefits75,59075,88572,92476,24973,862 Occupancy expense, net14,71512,21811,63612,10611,844 Furniture and equipment expense5,7395,4235,3045,2755,474 Other real estate and foreclosure expense695315432200216 Deposit insurance4,4502,2954,7365,1754,917 Other operating expenses46,55044,53744,83043,02742,276 TOTAL NONINTEREST EXPENSE147,739140,673139,862142,032138,589 NET INCOME (LOSS) BEFORE INCOME TAXES83,39386,07094,026(723,524)63,644 Provision for income taxes16,70217,52615,948(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)$ 0.43Simmons First National Corporation SFNC Consolidated Risk-Based Capital For the Quarters EndedJun 30Mar 31 Dec 31Sep 30Jun 30 (Unaudited)20262026202520252025($ 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 securities294,737314,365293,130313,483380,900 Total Tier 1 capital2,408,8792,381,5372,337,5312,291,1912,551,006Tier 2 capital Subordinated notes and debentures312,028315,700317,714648,976366,369 Subordinated debt phase out---(198,000)(198,000) Qualifying allowance for loan losses and reserve for unfunded commitments259,693255,537250,006248,710258,079 Total Tier 2 capital571,721571,237567,720699,686426,448 Total risk-based capital$ 2,980,600$ 2,952,774$ 2,905,251$ 2,990,877$ 2,977,454Risk weighted assets$ 20,771,268$ 20,565,445$ 20,106,493$ 19,861,879$ 20,646,324Adjusted average assets for leverage ratio$ 23,617,439$ 23,487,513$ 23,224,638$ 23,963,356$ 25,606,135Ratios at end of quarter Equity to assets14.05 %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 ratio10.20 %10.14 %10.06 %9.56 %9.96 % Tier 1 risk-based capital ratio11.60 %11.58 %11.63 %11.54 %12.36 % Total risk-based capital ratio14.35 %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)20262026202520252025($ 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 agencies44,42546,32947,17248,35549,498 Mortgage-backed securities2,061,7602,128,7322,201,9582,249,5931,349,991 State and political subdivisions865,467838,880859,071845,371807,842 Other securities105,529138,345158,020175,958197,589 Total available-for-sale (net of credit losses)3,077,1813,152,2863,266,2213,319,2772,405,320 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$ -$ -$ -$ -$ 2,891,974Simmons First National Corporation SFNC Consolidated Loans For the Quarters Ended Jun 30 Mar 31 Dec 31 Sep 30 Jun 30 (Unaudited)20262026202520252025($ in thousands)Loan Portfolio - End of Period Consumer: Credit cards$ 174,148$ 172,610$ 175,760$ 173,020$ 176,166 Other consumer99,11796,387115,472112,335123,831 Total consumer273,265268,997291,232285,355299,997 Real Estate: Construction2,577,6302,621,8592,873,8072,874,8232,784,578 Single-family residential2,564,2822,566,1622,607,4502,617,8492,625,717 Other commercial real estate8,828,7718,764,6488,289,9687,875,6497,961,412 Total real estate13,970,68313,952,66913,771,22513,368,32113,371,707 Commercial: Commercial2,516,6072,521,4402,382,3392,397,3882,440,507 Agricultural426,522333,508306,300353,181333,078 Total commercial2,943,1292,854,9482,688,6392,750,5692,773,585 Other875,292856,269741,083784,572665,807 Total loans$ 18,062,369$ 17,932,883$ 17,492,179$ 17,188,817$ 17,111,096Simmons First National Corporation SFNC Consolidated Allowance and Asset Quality For the Quarters EndedJun 30Mar 31Dec 31Sep 30Jun 30 (Unaudited)20262026202520252025($ in thousands)Allowance for Credit Losses on Loans Beginning balance$ 229,908$ 224,377$ 258,006$ 253,537$ 252,168 Loans charged off: Credit cards1,3681,6771,3461,8621,702 Other consumer350590550600351 Real estate5,4656,62925,8501,3501,450 Commercial3,5201,66622,0048,0798,257 Total loans charged off10,70310,56249,75011,89111,760 Recoveries of loans previously charged off: Credit cards244468347257334 Other consumer381301163303294 Real estate15144910511587 Commercial812253390505469 Total recoveries1,5881,4711,0051,1801,184 Net loans charged off9,1159,09148,74510,71110,576 Provision for credit losses on loans17,43414,62215,11615,18011,945 Balance, end of quarter$ 238,227$ 229,908$ 224,377$ 258,006$ 253,537Nonperforming assets Nonperforming loans: Nonaccrual loans$ 165,295$ 141,233$ 111,791$ 153,516$ 156,453 Loans past due 90 days or more753647948423709 Total nonperforming loans166,048141,880112,739153,939157,162 Other nonperforming assets: Foreclosed assets and other real estate owned11,08012,47512,0096,3868,794 Other nonperforming assets60181323392759 Total other nonperforming assets11,14012,65612,3326,7789,553 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$ 28,313Ratios Allowance for credit losses on loans to total loans1.32 %1.28 %1.28 %1.50 %1.48 % Allowance for credit losses to nonperforming loans143 %162 %199 %168 %161 % Nonperforming loans to total loans0.92 %0.79 %0.64 %0.90 %0.92 % Nonperforming assets to total assets0.72 %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 loans0.29 %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 EndedJun 2026 Three Months EndedMar 2026 Three Months EndedJun 2025 ($ in thousands)AverageBalanceIncome/ExpenseYield/RateAverageBalanceIncome/ExpenseYield/RateAverageBalanceIncome/ExpenseYield/RateASSETSEarning assets: Interest bearing balances due from banks and federal funds sold$ 199,704$ 2,0584.13 %$ 251,620$ 2,3203.74 %$ 219,928$ 2,5314.62 % Investment securities - taxable2,301,05325,4724.44 %2,408,54626,3114.43 %3,483,80531,2333.60 % Investment securities - non-taxable (FTE)802,4487,5023.75 %820,2787,5423.73 %2,564,03721,2103.32 % Mortgage loans held for sale13,5562025.98 %13,8002035.97 %13,0632216.79 % Assets held in trading accounts14,7311363.70 %13,7481223.60 %--0.00 % Loans - including fees (FTE)17,956,572275,3396.15 %17,658,807268,3286.16 %17,046,802266,2506.26 % Total interest earning assets (FTE)21,288,064310,7095.85 %21,166,799304,8265.84 %23,327,635321,4455.53 % Non-earning assets3,349,9573,366,2063,317,496 Total assets$ 24,638,021$ 24,533,005$ 26,645,131LIABILITIES AND STOCKHOLDERS' EQUITYInterest bearing liabilities: Interest bearing transaction and savings accounts$ 11,192,627$ 58,5362.10 %$ 11,328,148$ 57,6532.06 %$ 11,220,060$ 69,1082.47 % Time deposits4,406,35536,9963.37 %4,678,05839,9493.46 %5,820,49957,2313.94 % Total interest bearing deposits15,598,98295,5322.46 %16,006,20697,6022.47 %17,040,559126,3392.97 % Federal funds purchased and securities sold under agreement to repurchase57,7584262.96 %17,743360.82 %32,565590.73 % Other borrowings635,6935,8733.71 %192,3451,7463.68 %960,81710,6134.43 % Subordinated notes and debentures314,1085,2226.67 %318,6355,2626.70 %366,3506,1886.77 % Total interest bearing liabilities16,606,541107,0532.59 %16,534,929104,6462.57 %18,400,291143,1993.12 %Noninterest bearing liabilities: Noninterest bearing deposits4,272,0884,229,9524,390,454 Other liabilities280,861297,864308,223 Total liabilities21,159,49021,062,74523,098,968Stockholders' equity3,478,5313,470,2603,546,163 Total liabilities and stockholders' equity$ 24,638,021$ 24,533,005$ 26,645,131Net interest income (FTE)$ 203,656$ 200,180$ 178,246Net 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 EndedJun 30 Mar 31 Dec 31 Sep 30 Jun 30 (Unaudited)20262026202520252025($ in thousands, except share data)QUARTER-TO-DATEFinancial Highlights - As ReportedNet Income (loss)$ 66,691$ 68,544$ 78,078$ (562,792)$ 54,773Diluted earnings per share0.460.470.54(4.00)0.43Return on average assets1.09 %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 equity7.69 %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 adjustment3,0293,0122,8903,8116,422Average diluted shares outstanding145,323,958145,340,410145,210,222140,648,704126,406,453Shares repurchased under plan662,082----Average price of shares repurchased21.52----Cash dividends declared per common share0.2150.2150.2130.2130.213Accretable yield on acquired loans7789027497251,263Financial Highlights - Adjusted (non-GAAP) (1)Adjusted earnings$ 72,171$ 68,566$ 78,975$ 64,930$ 56,071Adjusted diluted earnings per share0.500.470.540.460.44Adjusted return on average assets1.17 %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 equity8.32 %8.01 %9.19 %7.65 %6.34 %Adjusted return on tangible common equity14.37 %13.91 %16.10 %13.62 %10.97 %Adjusted efficiency ratio (2)54.26 %56.16 %53.64 %57.72 %60.52 %YEAR-TO-DATEFinancial Highlights - GAAPNet Income (loss)$ 135,235$ 68,544$ (397,553)$ (475,631)$ 87,161Diluted earnings per share0.930.47(2.95)(3.63)0.69Return on average assets1.11 %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 equity7.85 %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 adjustment6,0413,01219,53716,64712,836Average diluted shares outstanding145,335,181145,340,410134,731,180131,132,891126,325,650Cash dividends declared per common share0.4300.2150.8500.6380.425Financial Highlights - Adjusted (non-GAAP) (1)Adjusted earnings$ 140,737$ 68,566$ 233,098$ 154,123$ 89,193Adjusted diluted earnings per share0.970.471.731.180.71Adjusted return on average assets1.15 %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 equity8.17 %8.01 %6.71 %5.90 %5.06 %Adjusted return on tangible common equity14.14 %13.91 %11.78 %10.37 %8.86 %Adjusted efficiency ratio (2)55.20 %56.16 %58.92 %60.90 %62.62 %END OF PERIODBook value per share$ 24.11$ 23.70$ 23.62$ 23.18$ 28.17Tangible book value per share14.4214.0313.9113.4516.97Shares outstanding144,442,482145,058,331144,762,817144,703,075125,996,248Full-time equivalent employees2,9092,9132,9172,8832,947Total number of financial centers220221222223223(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)20262026202520252025 (in thousands, except per share data)QUARTER-TO-DATE Net income (loss)$ 66,691$ 68,544$ 78,078$ (562,792)$ 54,773Certain 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 costs1,320283-3051,594Termination 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, net6,099531852,004163Tax effect of certain items (1)(1,939)(8)(318)(176,649)(459) Certain items, net of tax5,48022897627,7221,298Adjusted 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)$ 0.43Certain 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 costs0.01---0.01Termination 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, net0.04--0.01-Tax effect of certain items (1)(0.01)-(0.01)(1.25)- Certain items, net of tax0.04--4.460.01 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)$ 42,354Certain noninterest income itemsLoss 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$ 4,837Certain other income itemsLoss 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$ 138,589Certain noninterest expense itemsSeverance/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)140,320140,643138,647139,723136,832 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$ 73,862Certain salaries and employee benefits itemsSeverance/early retirement program costs(1,320)(283)-(305)(1,594)Other4--(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$ 42,276Certain other operating expenses itemsCertain 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$ 42,531Simmons 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)20262026202520252025 (in thousands, except per share data)YEAR-TO-DATE Net income (loss)$ 135,235$ 68,544$ (397,553)$ (475,631)$ 87,161Certain items (non-GAAP)Loss on early extinguishment of debt--570570-FDIC Deposit Insurance special assessment(1,984)(1,984)---Certain professional services1,2001,200---Severance/early retirement program costs1,6032831,8991,8991,594Termination of vendor and software services--12--Loss on sale of Equipment Finance business--1,118--Loss (gain) on sale of securities--801,492801,492-Branch/real estate rightsizing costs, net6,6305313,2463,1611,157Tax effect of certain items (1)(1,947)(8)(177,686)(177,368)(719) Certain items, net of tax5,50222630,651629,7542,032Adjusted 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)$ 0.69Certain items (non-GAAP)Loss on early extinguishment of debt--0.01--FDIC Deposit Insurance special assessment(0.01)(0.01)---Certain professional services0.010.01---Severance/early retirement program costs0.01-0.010.020.01Termination of vendor and software services-----Loss on sale of Equipment Finance business--0.01--Loss (gain) on sale of securities--5.956.11-Branch/real estate rightsizing costs, net0.04-0.020.020.01Tax effect of certain items (1)(0.01)-(1.32)(1.34)- Certain items, net of tax0.04-4.684.810.02 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)$ 88,509Certain noninterest income itemsLoss on early extinguishment of debt--570570-Loss (gain) on sale of securities--801,492801,492- 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$ 12,844Certain other income itemsLoss on early extinguishment of debt--570570- 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$ 283,169Certain noninterest expense itemsSeverance/early retirement program costs(1,603)(283)(1,899)(1,899)(1,594)FDIC Deposit Insurance special assessment1,9841,984---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)280,963140,643558,788420,141280,418 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$ 148,686Certain salaries and employee benefits itemsSeverance/early retirement program costs(1,603)(283)(1,899)(1,899)(1,594)Other4---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$ 88,327Certain other operating expenses itemsCertain 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$ 88,421Simmons 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)20262026202520252025($ in thousands, except per share data)Calculation of Tangible Common Equity and the Ratio of Tangible Common Equity to Tangible AssetsTotal common stockholders' equity$ 3,481,859$ 3,437,734$ 3,419,240$ 3,353,963$ 3,549,210Intangible 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$ 2,137,794Total assets$ 24,776,816$ 24,692,783$ 24,540,877$ 24,208,162$ 26,693,620Intangible 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$ 25,282,204Ratio of common equity to assets14.05 %13.92 %13.93 %13.85 %13.30 %Ratio of tangible common equity to tangible assets8.91 %8.74 %8.71 %8.53 %8.46 %Calculation of Tangible Book Value per ShareTotal common stockholders' equity$ 3,481,859$ 3,437,734$ 3,419,240$ 3,353,963$ 3,549,210Intangible 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$ 2,137,794Shares of common stock outstanding144,442,482145,058,331144,762,817144,703,075125,996,248Book value per common share$ 24.11$ 23.70$ 23.62$ 23.18$ 28.17Tangible book value per common share$ 14.42$ 14.03$ 13.91$ 13.45$ 16.97Calculation of Coverage Ratio of Uninsured, Non-Collateralized DepositsUninsured deposits at Simmons Bank$ 7,213,361$ 7,385,688$ 9,640,677$ 9,565,766$ 8,407,847Less: Collateralized deposits (excluding portion that is FDIC insured)2,385,3402,509,7282,363,3272,169,3622,691,215Less: Intercompany eliminations324,404432,7952,729,1912,937,1471,121,932Total uninsured, non-collateralized deposits$ 4,503,617$ 4,443,165$ 4,548,159$ 4,459,257$ 4,594,700FHLB borrowing availability$ 5,412,000$ 5,831,000$ 5,999,000$ 6,134,000$ 5,133,000Unpledged securities1,488,0001,571,0001,480,0001,575,0003,697,000Fed funds lines, Fed discount window and Bank Term Funding Program (1)1,953,0001,595,0001,836,0001,824,0001,894,000Additional liquidity sources$ 8,853,000$ 8,997,000$ 9,315,000$ 9,533,000$ 10,724,000Uninsured, non-collateralized deposit coverage ratio2.02.02.02.12.3(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)20262026202520252025($ in thousands)Calculation of Adjusted Return on Average Assets & Average Tangible AssetsNet income (loss)$ 66,691$ 68,544$ 78,078$ (562,792)$ 54,773Amortization of intangibles, net of taxes2,2872,2882,2882,2872,289Total adjusted tangible net income (non-GAAP)$ 68,978$ 70,832$ 80,366$ (560,505)$ 57,062Certain 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 costs1,320283-3051,594Termination 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, net6,099531852,004163Tax effect of certain items (1)(1,939)(8)(318)(176,649)(459)Adjusted earnings (non-GAAP)72,17168,56678,97564,93056,071Amortization of intangibles, net of taxes2,2872,2882,2882,2872,289Total adjusted tangible net income (non-GAAP)$ 74,458$ 70,854$ 81,263$ 67,217$ 58,360Average total assets$ 24,638,021$ 24,533,005$ 24,254,447$ 24,914,922$ 26,645,131Average 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$ 25,231,900Return on average assets1.09 %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 EquityNet income (loss) available to common stockholders$ 66,691$ 68,544$ 78,078$ (562,792)$ 54,773Amortization of intangibles, net of taxes2,2872,2882,2882,2872,289Total income available to common stockholders$ 68,978$ 70,832$ 80,366$ (560,505)$ 57,062Certain 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 costs1,320283-3051,594Termination 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, net6,099531852,004163Tax effect of certain items (1)(1,939)(8)(318)(176,649)(459)Adjusted earnings (non-GAAP)72,17168,56678,97564,93056,071Amortization of intangibles, net of taxes2,2872,2882,2882,2872,289Total adjusted earnings available to common stockholders (non-GAAP)$ 74,458$ 70,854$ 81,263$ 67,217$ 58,360Average common stockholders' equity$ 3,478,531$ 3,470,260$ 3,410,017$ 3,368,308$ 3,546,163Average 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$ 2,132,932Return on average common equity7.69 %8.01 %9.08 %-66.29 %6.20 %Return on tangible common equity13.32 %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)20262026202520252025($ in thousands)Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)Noninterest expense (efficiency ratio numerator)$ 147,739$ 140,673$ 139,862$ 142,032$ 138,589Certain 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$ 133,518Net interest income$ 200,627$ 197,168$ 197,296$ 186,661$ 171,824Noninterest income47,93944,19751,708(756,187)42,354Fully tax-equivalent adjustment (2)3,0293,0122,8903,8116,422Efficiency ratio denominator251,595244,377251,894(565,715)220,600Certain 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$ 220,600Efficiency 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 RevenueNet interest income$ 200,627$ 197,168$ 197,296$ 186,661$ 171,824Noninterest income47,93944,19751,708(756,187)42,354Total revenue248,566241,365249,004(569,526)214,178Certain 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$ 214,178Calculation of Pre-Provision Net Revenue (PPNR)Net interest income$ 200,627$ 197,168$ 197,296$ 186,661$ 171,824Noninterest income47,93944,19751,708(756,187)42,354Total revenue248,566241,365249,004(569,526)214,178Less: Noninterest expense147,739140,673139,862142,032138,589Pre-Provision Net Revenue (PPNR)$ 100,827$ 100,692$ 109,142$ (711,558)$ 75,589Calculation of Adjusted Pre-Provision Net RevenuePre-Provision Net Revenue (PPNR)$ 100,827$ 100,692$ 109,142$ (711,558)$ 75,589Certain 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 costs1,320283-3051,594Plus: Termination of vendor and software services--12--Plus: Loss on sale of Equipment Finance business--1,118--Plus: Branch/real estate rightsizing costs, net6,099531852,004163Adjusted 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)20262026202520252025($ in thousands)Calculation of Adjusted Return on Average Assets & Average Tangible AssetsNet income (loss)$ 135,235$ 68,544$ (397,553)$ (475,631)$ 87,161Amortization of intangibles, net of taxes4,5752,2889,4697,1814,894Total adjusted tangible net income (non-GAAP)$ 139,810$ 70,832$ (388,084)$ (468,450)$ 92,055Certain items (non-GAAP)Loss on early extinguishment of debt--570570-FDIC Deposit Insurance special assessment(1,984)(1,984)---Certain professional services1,2001,200---Severance/early retirement program costs1,6032831,8991,8991,594Termination of vendor and software services--12--Loss on sale of Equipment Finance business--1,118--Loss (gain) on sale of securities--801,492801,492-Branch/real estate rightsizing costs, net6,6305313,2463,1611,157Tax effect of certain items (1)(1,947)(8)(177,686)(177,368)(719)Adjusted earnings (non-GAAP)140,73768,566233,098154,12389,193Amortization of intangibles, net of taxes4,5752,2889,4697,1814,894Total adjusted tangible net income (non-GAAP)$ 145,312$ 70,854$ 242,567$ 161,304$ 94,087Average total assets$ 24,585,803$ 24,533,005$ 25,614,700$ 26,073,100$ 26,661,787Average 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$ 25,246,888Return on average assets1.11 %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 EquityNet income (loss) available to common stockholders$ 135,235$ 68,544$ (397,553)$ (475,631)$ 87,161Amortization of intangibles, net of taxes4,5752,2889,4697,1814,894Total income available to common stockholders$ 139,810$ 70,832$ (388,084)$ (468,450)$ 92,055Certain items (non-GAAP)Loss on early extinguishment of debt--570570-FDIC Deposit Insurance special assessment(1,984)(1,984)---Certain professional services1,2001,200---Severance/early retirement program costs1,6032831,8991,8991,594Termination of vendor and software services--12--Loss on sale of Equipment Finance business--1,118--Loss (gain) on sale of securities--801,492801,492-Branch/real estate rightsizing costs, net6,6305313,2463,1611,157Tax effect of certain items (1)(1,947)(8)(177,686)(177,368)(719)Adjusted earnings (non-GAAP)140,73768,566233,098154,12389,193Amortization of intangibles, net of taxes4,5752,2889,4697,1814,894Total adjusted earnings available to common stockholders (non-GAAP)$ 145,312$ 70,854$ 242,567$ 161,304$ 94,087Average common stockholders' equity$ 3,474,419$ 3,470,260$ 3,471,531$ 3,492,261$ 3,555,265Average 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$ 2,140,366Return on average common equity7.85 %8.01 %-11.45 %-18.21 %4.94 %Return on tangible common equity13.61 %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)20262026202520252025($ in thousands)Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)Noninterest expense (efficiency ratio numerator)$ 288,412$ 140,673$ 565,063$ 425,201$ 283,169Certain noninterest expense items (non-GAAP)Severance/early retirement program costs(1,603)(283)(1,899)(1,899)(1,594)FDIC Deposit Insurance special assessment1,9841,984---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$ 273,379Net interest income$ 397,795$ 197,168$ 719,203$ 521,907$ 335,246Noninterest income92,13644,197(615,970)(667,678)88,509Fully tax-equivalent adjustment (2)6,0413,01219,53716,64712,836Efficiency ratio denominator495,972244,377122,770(129,124)436,591Certain noninterest income items (non-GAAP)Loss on early extinguishment of debt--570570-(Gain) loss on sale of securities--801,492801,492-Adjusted efficiency ratio denominator$ 495,972$ 244,377$ 924,832$ 672,938$ 436,591Efficiency 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.