PINE BLUFF, Ark., July 16, 2026 /PRNewswire/ --
Financial Highlights 2Q26 1Q26 2Q25 2Q26 Highlights
Income Statement Summary
(in millions) Comparisons reflect 2Q26 vs 1Q26
unless otherwise noted
Net income of $66.7 million
and diluted EPS of $0.46
Adjusted net 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 0.7 million shares
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 earnings1 for the second quarter of 2026 were $72.2 million, compared to $68.6 million for the first quarter of 2026 and $56.1 million for the second quarter of 2025. Adjusted diluted earnings per share1 for the second quarter of 2026 were $0.50, compared to $0.47 for the first quarter of 2026 and $0.44 for the second quarter of 2025.
For the second quarter of 2026, return on average assets was 1.09 percent and return on average common equity was 7.69 percent. Adjusted return on average assets1 was 1.17 percent and adjusted return on average tangible common equity1 was 14.37 percent.
The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.
Impact of Certain Items on Earnings and Diluted Earnings Per Share (EPS)
$ in millions, except per share data 2Q26 1Q26 2Q25
Net income $66.7 $68.5 $54.8
Branch/real estate rightsizing costs, net 6.1 0.6 0.2
Severance/early retirement program costs 1.3 0.3 1.6
FDIC deposit insurance special assessment (2.0)
Certain professional services 1.2
Total pre-tax impact 7.4 0.1 1.8
Tax effect (1.9) (0.5)
Total impact on earnings 5.5 0.1 1.3
Adjusted 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) basis2 was 3.84 percent, unchanged from first quarter 2026 levels and up 78 basis points compared to 3.06 percent for the second quarter of 2025. The increase in net interest margin on a year-over-year basis primarily reflected the balance sheet repositioning that was completed during the third quarter of 2025.
Select Yield/Rates 2Q26 1Q26 4Q25 3Q25 2Q25
Loan yield (FTE)(2) 6.15 % 6.16 % 6.23 % 6.31 % 6.26 %
Investment securities yield (FTE)(2) 4.26 4.25 4.30 4.01 3.48
Cost of interest bearing deposits 2.46 2.47 2.62 2.86 2.97
Cost of deposits 1.93 1.96 2.04 2.25 2.36
Net interest spread (FTE)(2) 3.26 3.27 3.18 2.86 2.41
Net interest margin (FTE)(2) 3.84 3.84 3.81 3.50 3.06
Noninterest Income
Noninterest income for the second quarter of 2026 was $47.9 million, compared to $44.2 million in the first quarter of 2026 and $42.4 million in the second quarter of 2025. The increase in noninterest income on a linked quarter basis was primarily due to an increase in swap fee income and a positive valuation adjustment on Small Business Investment Company (SBIC) investments in the second quarter of 2026, both of which are included in other income in the table below.
Noninterest Income 2Q26 1Q26 4Q25 3Q25 2Q25
$ in millions
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 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 2Q26 1Q26 4Q25 3Q25 2Q25
$ in millions
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 2Q26 1Q26 4Q25 3Q25 2Q25
$ in millions
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 2Q26 1Q26 4Q25 3Q25 2Q25
$ in millions
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 2Q26 1Q26 4Q25 3Q25 2Q25
$ in millions
Allowance for credit losses on loans to total loans 1.32 % 1.28 % 1.28 % 1.50 % 1.48 %
Allowance for credit losses on loans to nonperforming loans 143 162 199 168 161
Nonperforming loans to total loans 0.92 0.79 0.64 0.90 0.92
Net charge-off ratio (annualized) 0.20 0.21 1.12 0.25 0.25
Net charge-off ratio YTD (annualized) 0.21 0.21 0.47 0.24 0.24
Loans past due 30-89 days to total loans 0.29 0.51 0.27 0.11 0.17
Total nonperforming loans $166.1 $141.9 $112.7 $153.9 $157.2
Total other nonperforming assets 11.1 12.6 12.4 6.8 9.5
Total nonperforming assets $177.2 $154.5 $125.1 $160.7 $166.7
Reserve for unfunded commitments $25.6 $25.6 $25.6 $25.6 $25.6
Capital
Total stockholders' equity at the end of the second quarter of 2026 was $3.5 billion, compared to $3.4 billion at the end of the first quarter of 2026 and $3.5 billion at the end of the second quarter of 2025. Book value per share at the end of the second quarter of 2026 was $24.11, compared to $23.70 at the end of the first quarter of 2026 and $28.17 at the end of the second quarter of 2025. Tangible book value per share1 at the end of the second quarter of 2026 was $14.42, compared to $14.03 at the end of the first quarter of 2026 and $16.97 at the end of the second quarter of 2025. The increase in book value per share and tangible book value per share on a linked quarter basis was primarily due to a $35.6 million increase in undivided profits. The year-over-year decline in book value per share and tangible book value per share was primarily due to the balance sheet repositioning completed in the third quarter of 2025.
Total stockholders' equity as a percentage of total assets at the end of the second quarter of 2026 was 14.1 percent, compared to 13.9 percent at the end of first quarter of 2026 and 13.3 percent at the end of the second quarter of 2025. Tangible common equity as a percentage of tangible assets1 was 8.9 percent at the end of the second quarter of 2026, compared to 8.7 percent at the end of the first quarter of 2026 and 8.5 percent at the end of the second quarter of 2025. Both Simmons and its principal subsidiary, Simmons Bank, continue to maintain regulatory capital ratios significantly above "well-capitalized" regulatory guidelines.
Select Capital Ratios 2Q26 1Q26 4Q25 3Q25 2Q25
Stockholders' equity to total assets 14.1 % 13.9 % 13.9 % 13.9 % 13.3 %
Tangible common equity to tangible 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 $28,313
Ratios
---
Allowance for credit losses on loans to total loans 1.32 % 1.28 % 1.28 % 1.50 % 1.48 %
Allowance for credit losses to nonperforming loans 143 % 162 % 199 % 168 % 161 %
Nonperforming loans to total loans 0.92 % 0.79 % 0.64 % 0.90 % 0.92 %
Nonperforming assets to total assets 0.72 % 0.63 % 0.51 % 0.66 % 0.62 %
Annualized net charge offs to average loans (QTD) 0.20 % 0.21 % 1.12 % 0.25 % 0.25 %
Annualized net charge offs to average loans (YTD) 0.21 % 0.21 % 0.47 % 0.24 % 0.24 %
Annualized net credit card charge offs to
average credit card loans (QTD) 2.57 % 2.81 % 2.23 % 3.64 % 2.99 %
Loans past due 30-89 days to total loans 0.29 % 0.51 % 0.27 % 0.11 % 0.17 %
Simmons First National Corporation SFNC
Consolidated - Average Balance Sheet and Net Interest Income Analysis
For the Quarters Ended
(Unaudited)
Three Months Ended Three Months Ended Three Months Ended
Jun 2026 Mar 2026 Jun 2025
($ in thousands) Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/
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
Ed Bilek, EVP, Director of Investor and Media Relations, ed.bilek@simmonsbank.com, 205.612.3378 (cell)