PINE BLUFF, Ark., Oct. 15, 2026 /PRNewswire/ --
FINANCIAL HIGHLIGHTS 3Q26 2Q26 3Q25
3Q26 Highlights
INCOME STATEMENT SUMMARY (in millions) Comparisons reflect 3Q26 vs 2Q26 unless otherwise noted
Net income of $47.1 million and diluted EPS of $0.32
Adjusted net income
(1)
of $79.0 million and adjusted diluted EPS
(1)
of $0.54
ROAA of 0.77% and ROE of 5.37%
Adjusted ROAA
(1)
of
1.29%; adjusted ROTCE
(1)
of 15.50%
Total revenue of $251.2 million and PPNR
(1)
of $69.1 million
Adjusted total revenue
(1)
of $251.2 million and adjusted PPNR
(1)
of $112.3 million
Net interest margin up 8 bps to 3.92%
Loan yields up 5 bps and cost of deposits down 8 bps to 1.85%
Efficiency ratio of 71.59%; adjusted efficiency ratio
(1)
of 53.31%
Provision expense exceeded net charge-offs by $14.1 million for the
first nine months of 2026
NCO ratio at 27 bps for 3Q26; ACL at 1.37%
Total revenue $251.2 $248.6 $(569.5)
Adjusted total revenue(1) 251.2 248.6 232.5
Pre-provision net revenue(1) (PPNR) 69.1 100.8 (711.6)
Adjusted pre-provision net revenue(1) 112.3 108.2 92.8
Provision for credit losses 12.2 17.4 12.0
Net income (loss) 47.1 66.7 (562.8)
Adjusted net income(1) 79.0 72.2 64.9
PER SHARE DATA
Diluted earnings $0.32 $0.46 $(4.00)
Adjusted diluted earnings(1) 0.54 0.50 0.46
Cash dividend declared 0.2150 0.2150 0.2125
BALANCE SHEET (in millions)
Total loans $17,465 $18,062 $17,189
Total deposits 18,616 19,728 19,838
Total assets 24,074 24,777 24,208
Total shareholders' equity 3,350 3,482 3,354
ASSET QUALITY
Net charge-off ratio (NCO ratio) 0.27 % 0.20 % 0.25 %
Allowance for credit losses to loans (ACL) 1.37 1.32 1.50
CAPITAL RATIOS
Equity to assets (EA) ratio 13.91 % 14.05 % 13.85 %
Tangible common equity (TCE) ratio(1) 8.62 8.91 8.53
Common equity tier 1 (CET1) ratio 12.05 11.60 11.54
Total risk-based capital ratio 14.80 14.35 15.07
OTHER RATIOS
Return on average assets (ROAA) 0.77 % 1.09 % (8.96) %
Adjusted ROAA(1) 1.29 1.17 1.03
Return on average common equity (ROE) 5.37 7.69 (66.29)
Return on average tangible common equity(1) (ROTCE) 9.42 13.32 (113.56)
Adjusted ROTCE(1) 15.50 14.37 13.62
Net interest margin (FTE)(2) 3.92 3.84 3.50
Efficiency ratio 71.59 58.72 (25.11)
Adjusted efficiency ratio(1) 53.31 54.26 57.72
Jay Brogdon, Simmons' President and CEO, commented on third quarter 2026 results:
"The third quarter showcased our commitment to delivering sustainable long-term value through focused execution of several strategic initiatives designed to improve profitability and further optimize our balance sheet. We continue to achieve reductions in noninterest expenses as well as back-book loans and deposits with low relationship value. Combined with disciplined loan and deposit pricing, these initiatives drove net interest margin expansion of 8 basis points to 3.92%, and drove meaningful improvements in our adjusted ROAA and adjusted ROTCE performance.
Credit quality metrics remained relatively stable during the quarter, as we actively manage legacy credits and pursue early identification of potential problems. We continue strengthening reserves to buffer our already strong capital levels.
As we look to the fourth quarter and beyond, we will remain relentless in our commitment to the principles of generating sound and profitable growth. By simplifying and focusing our business, we have gained efficiencies that will more than fund ongoing investments that support high-value organic growth. We plan to further outline our strategic objectives and future financial targets at our upcoming Investor Day in December."
Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $47.1 million for the third quarter of 2026, compared to net income of $66.7 million for the second quarter of 2026 and a net loss of $562.8 million in the third quarter of 2025. Diluted earnings per share were $0.32 for the third quarter of 2026, compared to $0.46 for the second quarter of 2026 and $(4.00) for the third quarter of 2025. Adjusted earnings1 for the third quarter of 2026 were $79.0 million, compared to $72.2 million for the second quarter of 2026 and $64.9 million for the third quarter of 2025. Adjusted diluted earnings per share1 for the third quarter of 2026 were $0.54, compared to $0.50 for the second quarter of 2026 and $0.46 for the third quarter of 2025.
For the third quarter of 2026, return on average assets was 0.77 percent and return on average common equity was 5.37 percent. Adjusted return on average assets1 was 1.29 percent and adjusted return on average tangible common equity1 was 15.50 percent.
The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, certain professional services, accelerated prepaid expenses, loss on sale of securities and loss on early extinguishment of debt. 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 3Q26 2Q26 3Q25
Net income (loss) $47.1 $66.7 $(562.8)
Branch/real estate rightsizing costs, net 14.2 6.1 2.0
Severance/early retirement program costs 6.0 1.3 0.3
Certain professional services 17.1
Accelerated prepaid expenses 5.9
Loss on sale of securities 801.5
Loss on early extinguishment of debt 0.6
Total pre-tax impact 43.2 7.4 804.4
Tax effect (11.3) (1.9) (176.7)
Total impact on earnings 31.9 5.5 627.7
Adjusted earnings
1, 3 $79.0 $72.2 $64.9
Diluted EPS $0.32 $0.46 $(4.00)
Branch/real estate rightsizing costs, net 0.10 0.04 0.01
Severance/early retirement program costs 0.04 0.01
Certain professional services 0.12
Accelerated prepaid expenses 0.04
Loss on sale of securities 5.70
Loss on early extinguishment of debt
Total pre-tax impact 0.30 0.05 5.71
Tax effect (0.08) (0.01) (1.25)
Total impact on earnings 0.22 0.04 4.46
Adjusted Diluted EPS
(1) $0.54 $0.50 $0.46
Net Interest Income
Net interest income for the third quarter of 2026 totaled $204.0 million, up $3.3 million, or 7 percent annualized, compared to $200.6 million for the second quarter of 2026 and up $17.3 million, or 9 percent, compared to $186.7 million for the third quarter of 2025. The increase in net interest income on a linked quarter basis was due to a $1.4 million increase in interest income, coupled with a $2.0 million decrease in interest expense. These changes were primarily driven by loan yields increasing as lower fixed rate loan back book repriced higher, continued optimization of funding costs, including lower customer deposit costs and utilization of FHLB advances as an alternative to higher rate brokered deposits, and one extra day in the quarter. The increase in net interest income on a year-over-year basis was primarily due to a full quarter impact of balance sheet repositioning completed in the third quarter of 2025, along with the previously mentioned lower fixed rate loan back book repricing and optimization of funding cost.
Net interest margin for the third quarter of 2026 on a fully taxable equivalent (FTE) basis2 was 3.92 percent, up 8 basis points compared to 3.84 percent for the second quarter of 2026 and up 42 basis points compared to 3.50 percent for the third quarter of 2025. The increase in net interest margin on a linked quarter basis reflected an increase in loan yields, coupled with the deleveraging of the balance sheet driven by the run-off of certain lower yielding, low relationship credits and a corresponding reduction of higher cost funding. The increase in the net interest margin on a year-over-year basis primarily reflected the full impact of the balance sheet repositioning that was completed during the third quarter of 2025 and previously mentioned optimization of loan yields and funding cost.
Select Yield/Rates 3Q26 2Q26 1Q26 4Q25 3Q25
Loan yield (FTE)(2) 6.20 % 6.15 % 6.16 % 6.23 % 6.31 %
Investment securities yield (FTE)(2) 4.33 4.26 4.25 4.30 4.01
Cost of interest bearing deposits 2.39 2.46 2.47 2.62 2.86
Cost of deposits 1.85 1.93 1.96 2.04 2.25
Net interest spread (FTE)(2) 3.35 3.26 3.27 3.18 2.86
Net interest margin (FTE)(2) 3.92 3.84 3.84 3.81 3.50
Noninterest Income
Noninterest income for the third quarter of 2026 was $47.2 million, compared to $47.9 million in the second quarter of 2026 and $(756.2) million in the third quarter of 2025. Included in noninterest income in the third quarter of 2025 was a loss on the sale of securities totaling $801.5 million in connection with the balance sheet repositioning. Adjusted noninterest income1 for the third quarter of 2025 was $45.9 million. The decrease in noninterest income on a linked quarter basis was primarily due to a decrease in swap fee income and a higher 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. These decreases more than offset a $1.3 million increase in service charges on deposit accounts and a $1.2 million increase in wealth management services.
Noninterest Income 3Q26 2Q26 1Q26 4Q25 3Q25
$ in millions
Service charges on deposit accounts $13.6 $12.3 $12.7 $12.7 $13.0
Wealth management services 11.4 10.2 10.5 10.3 10.0
Debit and credit card services 8.7 9.0 8.5 8.7 8.5
Mortgage lending income 1.7 2.0 1.9 2.2 2.3
Other service charges and fees 1.5 1.6 1.6 1.5 1.5
Bank owned life insurance 4.2 4.2 4.2 3.9 3.9
Gain (loss) on sale of securities (801.5)
Other income 6.0 8.6 4.8 12.4 6.1
Total noninterest income $47.2 $47.9 $44.2 $51.7 $(756.2)
Adjusted noninterest income(1) $47.2 $47.9 $44.2 $51.7 $45.9
Noninterest Expense
Noninterest expense for the third quarter of 2026 was $182.0 million, compared to $147.7 million in the second quarter of 2026 and $142.0 million in the third quarter of 2025. Included in noninterest expense are certain items consisting of branch/real estate rightsizing costs, severance/early retirement program costs, certain professional services, accelerated prepaid expenses and loss on early extinguishment of debt. Collectively, these items totaled $43.1 million in the third quarter of 2026, $7.4 million in the second quarter of 2026 and $2.3 million in the third quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense1 was $138.9 million in the third quarter of 2026, $140.3 million in the second quarter of 2026 and $139.7 million in the third quarter of 2025. The efficiency ratio for the third quarter of 2026 was 71.59 percent, compared to 58.72 percent for the second quarter of 2026 and (25.11) percent for the third quarter of 2025. The adjusted efficiency ratio1 was 53.31 percent for the third quarter of 2026, compared to 54.26 percent for the second quarter of 2026 and 57.72 percent for the third quarter of 2025.
Noninterest Expense 3Q26 2Q26 1Q26 4Q25 3Q25
$ in millions
Salaries and employee benefits $78.1 $75.6 $75.9 $72.9 $76.2
Occupancy expense, net 11.7 14.7 12.2 11.6 12.1
Furniture and equipment 5.4 5.7 5.4 5.3 5.3
Deposit insurance 4.5 4.5 2.3 4.7 5.2
Other real estate and foreclosure expense 0.2 0.7 0.3 0.4 0.2
Other operating expenses 82.1 46.6 44.5 44.8 43.0
Total noninterest expense $182.0 $147.7 $140.7 $139.9 $142.0
Adjusted salaries and employee benefits(1) $72.1 $74.3 $75.6 $72.9 $75.9
Adjusted other operating expenses(1) 45.0 44.2 43.1 44.0 41.5
Adjusted noninterest expense(1) 138.9 140.3 140.6 138.6 139.7
Efficiency ratio 71.59 % 58.72 % 57.56 % 55.52 % (25.11) %
Adjusted efficiency ratio(1) 53.31 54.26 56.16 53.64 57.72
Full-time equivalent employees 2,712 2,909 2,913 2,917 2,883
Number of financial centers 220 220 221 222 223
Loans and Unfunded Loan Commitments
Total loans at the end of the third quarter of 2026 were $17.5 billion, compared to $18.1 billion at the end of the second quarter of 2026 and $17.2 billion at the end of the third quarter of 2025. The decrease in total loans on a linked quarter basis reflected higher levels of paydowns, early payoffs, and continued focus on profitability and relationship banking as we deleveraged the balance sheet through the run-off of certain lower yielding, low relationship credits. Unfunded commitments at the end of the third quarter of 2026 were $4.4 billion, relatively unchanged from second quarter 2026 levels and up from $4.0 billion at the end of the third quarter of 2025. The commercial loan pipeline totaled $1.3 billion at the end of the third quarter of 2026, and ready-to-close commercial loans totaled $455 million with a weighted average rate of 6.78 percent.
Loans and Unfunded Loan Commitments 3Q26 2Q26 1Q26 4Q25 3Q25
$ in millions
Total loans $17,465 $18,062 $17,933 $17,492 $17,189
Unfunded loan commitments 4,356 4,384 4,068 3,871 3,955
Deposits and Other Borrowings
Total deposits at the end of the third quarter of 2026 were $18.6 billion, compared to $19.7 billion at the end of the second quarter of 2026 and $19.8 billion at the end of the third quarter of 2025. Noninterest bearing deposits totaled $4.3 billion at the end of the third quarter of 2026, compared to $4.4 billion at the end of both the second quarter of 2026 and the third quarter of 2025. Interest bearing deposits at the end of the third quarter of 2026 totaled $14.3 billion, compared to $15.4 billion at the end of the second quarter of 2026 and $15.5 billion at the end of the third quarter of 2025. The decrease in interest bearing deposits on a linked quarter basis reflected balance sheet deleveraging of higher rate deposits, seasonal decreases in public fund deposits and 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 reflected a decrease in time deposits, coupled with a decrease in brokered deposits.
Other borrowings at the end of the third quarter of 2026 were $1.4 billion, compared to $941.3 million at the end of the second quarter of 2026 and $18.8 million at the end of the third quarter of 2025. The increase in other borrowings on a linked quarter and year-over-year basis reflected increased utilization of short-term FHLB advances given favorable pricing.
Deposits 3Q26 2Q26 1Q26 4Q25 3Q25
$ in millions
Noninterest bearing deposits $4,286 $4,350 $4,290 $4,330 $4,377
Interest bearing transaction accounts 10,288 10,332 10,667 10,453 10,289
Time deposits 3,107 3,233 3,334 3,508 3,331
Brokered deposits 935 1,813 1,912 1,893 1,841
Total deposits $18,616 $19,728 $20,203 $20,184 $19,838
Noninterest bearing deposits to total deposits 23 % 22 % 21 % 21 % 22 %
Total loans to total deposits 94 92 89 87 87
Asset Quality
Provision for credit losses on loans totaled $12.2 million for the third quarter of 2026, compared to $17.4 million in the second quarter of 2026 and $15.2 million in the third quarter of 2025. Net charge-offs as a percentage of average loans for the third quarter of 2026 were 27 basis points, compared to 20 basis points in the second quarter of 2026 and 25 basis points in the third quarter of 2025. The allowance for credit losses on loans at the end of the third quarter of 2026 was $238.5 million, compared to $238.2 million at the end of the second quarter of 2026 and $258.0 million at the end of the third quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the third quarter of 2026 was 1.37 percent, compared to 1.32 percent at the end of the second quarter of 2026 and 1.50 percent at the end of the third quarter of 2025.
Loans past due 30-89 days as a percentage of total loans were 30 basis points at the end of the third quarter of 2026, compared to 29 basis points at the end of the second quarter of 2026 and 11 basis points at the end of the third quarter of 2025. Total nonperforming loans at the end of the third quarter of 2026 totaled $179.9 million, compared to $166.1 million at the end of the second quarter of 2026 and $153.9 million at the end of the third quarter of 2025. The increase in nonperforming loans on a linked quarter basis reflected normal credit migration. The nonperforming loan coverage ratio ended the third quarter of 2026 at 133 percent, compared to 143 percent at the end of the second quarter of 2026 and 168 percent at the end of the third quarter of 2025. Total nonperforming assets as a percentage of total assets were 78 basis points at the end of the third quarter of 2026, compared to 72 basis points at the end of the second quarter of 2026 and 66 basis points at the end of the third quarter of 2025.
Asset Quality 3Q26 2Q26 1Q26 4Q25 3Q25
$ in millions
Allowance for credit losses on loans to total loans 1.37 % 1.32 % 1.28 % 1.28 % 1.50 %
Allowance for credit losses on loans to nonperforming loans 133 143 162 199 168
Nonperforming loans to total loans 1.03 0.92 0.79 0.64 0.90
Net charge-off ratio (annualized) 0.27 0.20 0.21 1.12 0.25
Net charge-off ratio YTD (annualized) 0.23 0.21 0.21 0.47 0.24
Loans past due 30-89 days to total loans 0.30 0.29 0.51 0.27 0.11
Total nonperforming loans $179.9 $166.1 $141.9 $112.7 $153.9
Total other nonperforming assets 7.1 11.1 12.6 12.4 6.8
Total nonperforming assets $187.0 $177.2 $154.5 $125.1 $160.7
Reserve for unfunded commitments $25.6 $25.6 $25.6 $25.6 $25.6
Capital
Total stockholders' equity at the end of the third quarter of 2026 was $3.3 billion, compared to $3.5 billion at the end of the second quarter of 2026 and $3.4 billion at the end of the third quarter of 2025. Book value per share at the end of the third quarter of 2026 was $23.18, compared to $24.11 at the end of the second quarter of 2026 and unchanged from the third quarter of 2025. Tangible book value per share1 at the end of the third quarter of 2026 was $13.52, compared to $14.42 at the end of the second quarter of 2026 and $13.45 at the end of the third quarter of 2025. The decrease in book value per share and tangible book value per share on a linked quarter basis was primarily due to an increase in accumulated other comprehensive loss reflecting higher long-term interest rates, offset in part, by an increase in undivided profits.
Total stockholders' equity as a percentage of total assets at the end of the third quarter of 2026 was 13.9 percent, compared to 14.1 percent at the end of the second quarter of 2026 and unchanged from the level at the end of the third quarter of 2025. Tangible common equity as a percentage of tangible assets1 was 8.6 percent at the end of the third quarter of 2026, compared to 8.9 percent at the end of the second quarter of 2026 and 8.5 percent at the end of the third 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 3Q26 2Q26 1Q26 4Q25 3Q25
Stockholders' equity to total assets 13.9 % 14.1 % 13.9 % 13.9 % 13.9 %
Tangible common equity to tangible assets(1) 8.6 8.9 8.7 8.7 8.5
Common equity tier 1 (CET1) ratio 12.1 11.6 11.6 11.6 11.5
Tier 1 leverage ratio 10.4 10.2 10.1 10.1 9.6
Tier 1 risk-based capital ratio 12.1 11.6 11.6 11.6 11.5
Total risk-based capital ratio 14.8 14.4 14.4 14.4 15.1
Share Repurchase Program
During the third quarter of 2026, Simmons did not repurchase shares under its stock repurchase program that was authorized in January 2026 (2026 Program). Remaining authorization under the 2026 Program as of September 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, October 16, 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 10212015. 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, by Forbes as one of America's Best-In-State Companies 2026 and by American Banker as one of the Top Performing Banks 2026 with $10 billion to $50 billion of assets. 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, certain professional services, accelerated prepaid expenses, loss on sale of securities and loss on early extinguishment of debt.
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 Iran and 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-Qs for the quarters ended March 31, 2026 and June 30, 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 Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
ASSETS
Cash and noninterest bearing balances due from banks $415,752 $377,602 $342,603 $380,439 $377,604
Interest bearing balances due from banks and federal funds sold 343,870 211,882 205,880 331,474 266,013
Cash and cash equivalents 759,622 589,484 548,483 711,913 643,617
Interest bearing balances due from banks - time 100 100 100 100
Investment securities - held-to-maturity
Investment securities - available-for-sale 2,743,458 3,077,181 3,152,286 3,266,221 3,319,277
Mortgage loans held for sale 12,916 16,450 14,311 17,438 15,507
Assets held in trading accounts 6,874 14,541 14,543 11,685 12,695
Loans:
Loans 17,464,682 18,062,369 17,932,883 17,492,179 17,188,817
Allowance for credit losses on loans (238,520) (238,227) (229,908) (224,377) (258,006)
Net loans 17,226,162 17,824,142 17,702,975 17,267,802 16,930,811
Premises and equipment 542,159 552,435 557,873 561,220 568,343
Foreclosed assets and other real estate owned 7,133 11,080 12,475 12,009 6,386
Interest receivable 110,004 103,016 101,557 104,062 104,383
Bank owned life insurance 548,119 545,252 542,486 540,001 539,372
Goodwill 1,320,799 1,320,799 1,320,799 1,320,799 1,320,799
Other intangible assets 75,132 78,228 81,325 84,423 87,520
Other assets 722,103 644,108 643,570 643,204 659,352
Total assets $24,074,481 $24,776,816 $24,692,783 $24,540,877 $24,208,162
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest bearing transaction accounts $4,285,910 $4,350,474 $4,289,697 $4,330,211 $4,377,232
Interest bearing transaction accounts and savings deposits 11,005,547 11,133,265 11,311,979 11,141,169 10,932,914
Time deposits 3,324,686 4,244,371 4,601,107 4,712,658 4,527,587
Total deposits 18,616,143 19,728,110 20,202,783 20,184,038 19,837,733
Federal funds purchased and securities sold
under agreements to repurchase 99,444 46,216 8,708 21,383 22,348
Other borrowings 1,365,751 941,256 446,756 302,253 18,832
Subordinated notes and debentures 301,884 312,028 315,700 317,714 648,976
Accrued interest and other liabilities 341,455 267,347 281,102 296,249 326,310
Total liabilities 20,724,677 21,294,957 21,255,049 21,121,637 20,854,199
Stockholders' equity:
Common stock 1,445 1,444 1,451 1,448 1,447
Surplus 2,839,951 2,837,845 2,848,952 2,846,581 2,848,977
Undivided profits 953,349 937,307 901,696 864,341 817,022
Accumulated other comprehensive (loss) income (444,941) (294,737) (314,365) (293,130) (313,483)
Total stockholders' equity 3,349,804 3,481,859 3,437,734 3,419,240 3,353,963
Total liabilities and stockholders' equity $24,074,481 $24,776,816 $24,692,783 $24,540,877 $24,208,162
Simmons First National Corporation SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands, except per share data)
INTEREST INCOME
Loans (including fees) $275,903 $274,271 $267,287 $270,868 $269,210
Interest bearing balances due from banks and federal funds sold 2,541 2,058 2,320 2,485 6,421
Investment securities 30,239 31,013 31,882 33,833 37,464
Mortgage loans held for sale 236 202 203 227 229
Assets held in trading accounts 124 136 122 118 99
TOTAL INTEREST INCOME 309,043 307,680 301,814 307,531 313,423
INTEREST EXPENSE
Time deposits 31,154 36,996 39,949 41,989 49,064
Other deposits 58,295 58,536 57,653 60,516 67,546
Federal funds purchased and securities
sold under agreements to repurchase 141 426 36 57 72
Other borrowings 10,220 5,873 1,746 2,138 2,957
Subordinated notes and debentures 5,257 5,222 5,262 5,535 7,123
TOTAL INTEREST EXPENSE 105,067 107,053 104,646 110,235 126,762
NET INTEREST INCOME 203,976 200,627 197,168 197,296 186,661
PROVISION FOR CREDIT LOSSES
Provision for credit losses on loans 12,167 17,434 14,622 15,116 15,180
Provision for credit losses on investment securities - HTM (3,214)
TOTAL PROVISION FOR CREDIT LOSSES 12,167 17,434 14,622 15,116 11,966
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES 191,809 183,193 182,546 182,180 174,695
NONINTEREST INCOME
Service charges on deposit accounts 13,609 12,329 12,656 12,669 13,045
Debit and credit card fees 8,735 9,008 8,503 8,660 8,478
Wealth management fees 11,440 10,240 10,533 10,337 9,965
Mortgage lending income 1,668 1,994 1,854 2,232 2,259
Bank owned life insurance income 4,218 4,218 4,218 3,942 3,943
Other service charges and fees (includes insurance income) 1,509 1,551 1,606 1,503 1,474
Gain (loss) on sale of securities (801,492)
Other income 6,012 8,599 4,827 12,365 6,141
TOTAL NONINTEREST INCOME 47,191 47,939 44,197 51,708 (756,187)
NONINTEREST EXPENSE
Salaries and employee benefits 78,077 75,590 75,885 72,924 76,249
Occupancy expense, net 11,708 14,715 12,218 11,636 12,106
Furniture and equipment expense 5,382 5,739 5,423 5,304 5,275
Other real estate and foreclosure expense 230 695 315 432 200
Deposit insurance 4,519 4,450 2,295 4,736 5,175
Other operating expenses 82,119 46,550 44,537 44,830 43,027
TOTAL NONINTEREST EXPENSE 182,035 147,739 140,673 139,862 142,032
NET INCOME (LOSS) BEFORE INCOME TAXES 56,965 83,393 86,070 94,026 (723,524)
Provision for income taxes 9,852 16,702 17,526 15,948 (160,732)
NET INCOME (LOSS) $47,113 $66,691 $68,544 $78,078 $(562,792)
BASIC EARNINGS PER SHARE $0.33 $0.46 $0.47 $0.54 $(4.01)
DILUTED EARNINGS PER SHARE $0.32 $0.46 $0.47 $0.54 $(4.00)
Simmons First National Corporation SFNC
Consolidated Risk-Based Capital
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Tier 1 capital
---
Stockholders' equity $3,349,804 $3,481,859 $3,437,734 $3,419,240 $3,353,963
Disallowed intangible assets, net of deferred tax (1,364,874) (1,367,717) (1,370,562) (1,374,839) (1,376,255)
Unrealized loss (gain) on AFS securities 444,941 294,737 314,365 293,130 313,483
Total Tier 1 capital 2,429,871 2,408,879 2,381,537 2,337,531 2,291,191
Tier 2 capital
---
Subordinated notes and debentures 301,884 312,028 315,700 317,714 648,976
Subordinated debt phase out (198,000)
Qualifying allowance for loan losses and
reserve for unfunded commitments 252,179 259,618 255,537 250,006 248,710
Total Tier 2 capital 554,063 571,646 571,237 567,720 699,686
Total risk-based capital $2,983,934 $2,980,525 $2,952,774 $2,905,251 $2,990,877
Risk weighted assets $20,162,327 $20,765,212 $20,565,445 $20,106,493 $19,861,879
Adjusted average assets for leverage ratio $23,337,099 $23,617,439 $23,487,513 $23,224,638 $23,963,356
Ratios at end of quarter
---
Equity to assets 13.91 % 14.05 % 13.92 % 13.93 % 13.85 %
Tangible common equity to tangible assets (1) 8.62 % 8.91 % 8.74 % 8.71 % 8.53 %
Common equity Tier 1 ratio (CET1) 12.05 % 11.60 % 11.58 % 11.63 % 11.54 %
Tier 1 leverage ratio 10.41 % 10.20 % 10.14 % 10.06 % 9.56 %
Tier 1 risk-based capital ratio 12.05 % 11.60 % 11.58 % 11.63 % 11.54 %
Total risk-based capital ratio 14.80 % 14.35 % 14.36 % 14.45 % 15.07 %
(1) Calculations of tangible common equity to tangible assets and the reconciliations to GAAP are included in the schedules
accompanying this release.
Simmons First National Corporation SFNC
Consolidated Investment Securities
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Investment Securities -End of Period
---
Held-to-Maturity
U.S. Government agencies
$ -
$ -
$ -
$ -
$ -
Mortgage-backed securities
State and political subdivisions
Other securities
Total held-to-maturity (net of credit losses)
Available-for-Sale
U.S. Treasury
$ -
$ -
$ -
$ -
$ -
U.S. Government agencies 17,708 44,425 46,329 47,172 48,355
Mortgage-backed securities 1,893,901 2,061,760 2,128,732 2,201,958 2,249,593
State and political subdivisions 751,322 865,467 838,880 859,071 845,371
Other securities 80,527 105,529 138,345 158,020 175,958
Total available-for-sale (net of credit losses) 2,743,458 3,077,181 3,152,286 3,266,221 3,319,277
Total investment securities (net of credit losses) $2,743,458 $3,077,181 $3,152,286 $3,266,221 $3,319,277
Fair value - HTM investment securities
$ -
$ -
$ -
$ -
$ -
Simmons First National Corporation SFNC
Consolidated Loans
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Loan Portfolio -End of Period
---
Consumer:
Credit cards $167,388 $174,148 $172,610 $175,760 $173,020
Other consumer 86,552 99,117 96,387 115,472 112,335
Total consumer 253,940 273,265 268,997 291,232 285,355
Real Estate:
Construction 2,475,768 2,577,630 2,621,859 2,873,807 2,874,823
Single-family residential 2,505,437 2,564,282 2,566,162 2,607,450 2,617,849
Other commercial real estate 8,715,947 8,828,771 8,764,648 8,289,968 7,875,649
Total real estate 13,697,152 13,970,683 13,952,669 13,771,225 13,368,321
Commercial:
Commercial 2,340,957 2,516,607 2,521,440 2,382,339 2,397,388
Agricultural 447,255 426,522 333,508 306,300 353,181
Total commercial 2,788,212 2,943,129 2,854,948 2,688,639 2,750,569
Other 725,378 875,292 856,269 741,083 784,572
Total loans $17,464,682 $18,062,369 $17,932,883 $17,492,179 $17,188,817
Simmons First National Corporation SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Allowance for Credit Losses on Loans
---
Beginning balance $238,227 $229,908 $224,377 $258,006 $253,537
Loans charged off:
Credit cards 1,523 1,368 1,677 1,346 1,862
Other consumer 328 350 590 550 600
Real estate 8,535 5,465 6,629 25,850 1,350
Commercial 2,663 3,520 1,666 22,004 8,079
Total loans charged off 13,049 10,703 10,562 49,750 11,891
Recoveries of loans previously charged off:
Credit cards 326 244 468 347 257
Other consumer 241 381 301 163 303
Real estate 165 151 449 105 115
Commercial 443 812 253 390 505
Total recoveries 1,175 1,588 1,471 1,005 1,180
Net loans charged off 11,874 9,115 9,091 48,745 10,711
Provision for credit losses on loans 12,167 17,434 14,622 15,116 15,180
Balance, end of quarter $238,520 $238,227 $229,908 $224,377 $258,006
Nonperforming assets
---
Nonperforming loans:
Nonaccrual loans $179,397 $165,295 $141,233 $111,791 $153,516
Loans past due 90 days or more 488 753 647 948 423
Total nonperforming loans 179,885 166,048 141,880 112,739 153,939
Other nonperforming assets:
Foreclosed assets and other real estate owned 7,133 11,080 12,475 12,009 6,386
Other nonperforming assets 12 60 181 323 392
Total other nonperforming assets 7,145 11,140 12,656 12,332 6,778
Total nonperforming assets $187,030 $177,188 $154,536 $125,071 $160,717
Loans past due 30-89 days (excluding nonaccrual) $51,871 $52,308 $91,245 $47,016 $19,207
Ratios
---
Allowance for credit losses on loans to total loans 1.37 % 1.32 % 1.28 % 1.28 % 1.50 %
Allowance for credit losses to nonperforming loans 133 % 143 % 162 % 199 % 168 %
Nonperforming loans to total loans 1.03 % 0.92 % 0.79 % 0.64 % 0.90 %
Nonperforming assets to total assets 0.78 % 0.72 % 0.63 % 0.51 % 0.66 %
Annualized net charge offs to average loans (QTD) 0.27 % 0.20 % 0.21 % 1.12 % 0.25 %
Annualized net charge offs to average loans (YTD) 0.23 % 0.21 % 0.21 % 0.47 % 0.24 %
Annualized net credit card charge offs to
average credit card loans (QTD) 2.75 % 2.57 % 2.81 % 2.23 % 3.64 %
Loans past due 30-89 days to total loans 0.30 % 0.29 % 0.51 % 0.27 % 0.11 %
Simmons First National Corporation SFNC
Consolidated - Average Balance Sheet and Net Interest Income Analysis
For the Quarters Ended
(Unaudited)
Three Months Ended Three Months Ended Three Months Ended
Sep 2026
Jun 2026
Sep 2025
($ 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 $246,779 $2,541 4.09 % $199,704 $2,058 4.13 % $566,344 $6,421 4.50 %
Investment securities - taxable 2,163,583 24,728 4.53 % 2,301,053 25,472 4.44 % 2,751,493 29,183 4.21 %
Investment securities - non-taxable (FTE) 787,115 7,461 3.76 % 802,448 7,502 3.75 % 1,242,936 11,210 3.58 %
Mortgage loans held for sale 15,665 236 5.98 % 13,556 202 5.98 % 13,776 229 6.60 %
Assets held in trading accounts 12,499 124 3.94 % 14,731 136 3.70 % 11,305 99 3.47 %
Loans - including fees (FTE) 17,735,235 277,069 6.20 % 17,956,572 275,339 6.15 % 16,976,231 270,092 6.31 %
Total interest earning assets (FTE) 20,960,876 312,159 5.91 % 21,288,064 310,709 5.85 % 21,562,085 317,234 5.84 %
Non-earning assets 3,371,350 3,349,957 3,352,837
Total assets $24,332,226 $24,638,021 $24,914,922
LIABILITIES AND STOCKHOLDERS' EQUITY
Interest bearing liabilities:
Interest bearing transaction and
savings accounts $11,104,164 $58,295 2.08 % $11,192,627 $58,536 2.10 % $11,043,132 $67,546 2.43 %
Time deposits 3,764,350 31,154 3.28 % 4,406,355 36,996 3.37 % 5,116,070 49,064 3.80 %
Total interest bearing deposits 14,868,514 89,449 2.39 % 15,598,982 95,532 2.46 % 16,159,202 116,610 2.86 %
Federal funds purchased and securities
sold under agreement to repurchase 22,142 141 2.53 % 57,758 426 2.96 % 23,306 72 1.23 %
Other borrowings 1,083,796 10,220 3.74 % 635,693 5,873 3.71 % 268,278 2,957 4.37 %
Subordinated notes and debentures 309,678 5,257 6.73 % 314,108 5,222 6.67 % 407,922 7,123 6.93 %
Total interest bearing liabilities 16,284,130 105,067 2.56 % 16,606,541 107,053 2.59 % 16,858,708 126,762 2.98 %
Noninterest bearing liabilities:
Noninterest bearing deposits 4,262,855 4,272,088 4,369,941
Other liabilities 307,051 280,861 317,965
Total liabilities 20,854,036 21,159,490 21,546,614
Stockholders' equity 3,478,190 3,478,531 3,368,308
Total liabilities and stockholders' equity $24,332,226 $24,638,021 $24,914,922
Net interest income (FTE) $207,092 $203,656 $190,472
Net interest spread (FTE) 3.35 % 3.26 % 2.86 %
Net interest margin (FTE) 3.92 % 3.84 % 3.50 %
Simmons First National Corporation SFNC
Consolidated - Selected Financial Data
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands, except share data)
QUARTER-TO-DATE
---
Financial Highlights - As Reported
---
Net Income (loss) $47,113 $66,691 $68,544 $78,078 $(562,792)
Diluted earnings per share 0.32 0.46 0.47 0.54 (4.00)
Return on average assets 0.77 % 1.09 % 1.13 % 1.28 % -8.96 %
Return on average tangible assets (non-GAAP) (1) 0.85 % 1.19 % 1.24 % 1.40 % -9.46 %
Return on average common equity 5.37 % 7.69 % 8.01 % 9.08 % -66.29 %
Return on tangible common equity (non-GAAP) (1) 9.42 % 13.32 % 13.90 % 15.92 % -113.56 %
Net interest margin (FTE) 3.92 % 3.84 % 3.84 % 3.81 % 3.50 %
Efficiency ratio (2) 71.59 % 58.72 % 57.56 % 55.52 % -25.11 %
FTE adjustment 3,116 3,029 3,012 2,890 3,811
Average diluted shares outstanding 145,054,299 145,323,958 145,340,410 145,210,222 140,648,704
Shares repurchased under plan 662,082
Average price of shares repurchased 21.52
Cash dividends declared per common share 0.215 0.215 0.215 0.213 0.213
Accretable yield on acquired loans (221) 778 902 749 725
Financial Highlights - Adjusted (non-GAAP) (1)
---
Adjusted earnings $78,980 $72,171 $68,566 $78,975 $64,930
Adjusted diluted earnings per share 0.54 0.50 0.47 0.54 0.46
Adjusted return on average assets 1.29 % 1.17 % 1.13 % 1.29 % 1.03 %
Adjusted return on average tangible assets (non-GAAP) (1) 1.41 % 1.29 % 1.24 % 1.41 % 1.13 %
Adjusted return on average common equity 9.01 % 8.32 % 8.01 % 9.19 % 7.65 %
Adjusted return on tangible common equity 15.50 % 14.37 % 13.91 % 16.10 % 13.62 %
Adjusted efficiency ratio (2) 53.31 % 54.26 % 56.16 % 53.64 % 57.72 %
YEAR-TO-DATE
---
Financial Highlights - GAAP
---
Net Income (loss) $182,348 $135,235 $68,544 $(397,553) $(475,631)
Diluted earnings per share 1.25 0.93 0.47 (2.95) (3.63)
Return on average assets 1.00 % 1.11 % 1.13 % -1.55 % -2.44 %
Return on average tangible assets (non-GAAP) (1) 1.10 % 1.22 % 1.24 % -1.60 % -2.54 %
Return on average common equity 7.01 % 7.85 % 8.01 % -11.45 % -18.21 %
Return on tangible common equity (non-GAAP) (1) 12.19 % 13.61 % 13.90 % -18.84 % -30.13 %
Net interest margin (FTE) 3.86 % 3.84 % 3.84 % 3.32 % 3.17 %
Efficiency ratio (2) 62.70 % 58.15 % 57.56 % 460.26 % -329.30 %
FTE adjustment 9,157 6,041 3,012 19,537 16,647
Average diluted shares outstanding 145,305,872 145,335,181 145,340,410 134,731,180 131,132,891
Cash dividends declared per common share 0.645 0.430 0.215 0.850 0.638
Financial Highlights - Adjusted (non-GAAP) (1)
---
Adjusted earnings $219,717 $140,737 $68,566 $233,098 $154,123
Adjusted diluted earnings per share 1.51 0.97 0.47 1.73 1.18
Adjusted return on average assets 1.20 % 1.15 % 1.13 % 0.91 % 0.79 %
Adjusted return on average tangible assets (non-GAAP) (1) 1.31 % 1.26 % 1.24 % 1.00 % 0.87 %
Adjusted return on average common equity 8.45 % 8.17 % 8.01 % 6.71 % 5.90 %
Adjusted return on tangible common equity 14.60 % 14.14 % 13.91 % 11.78 % 10.37 %
Adjusted efficiency ratio (2) 54.56 % 55.20 % 56.16 % 58.92 % 60.90 %
END OF PERIOD
---
Book value per share $23.18 $24.11 $23.70 $23.62 $23.18
Tangible book value per share 13.52 14.42 14.03 13.91 13.45
Shares outstanding 144,517,233 144,442,482 145,058,331 144,762,817 144,703,075
Full-time equivalent employees 2,712 2,909 2,913 2,917 2,883
Total number of financial centers 220 220 221 222 223
(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 Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
(in thousands, except per share data)
QUARTER-TO-DATE
---
Net income (loss) $47,113 $66,691 $68,544 $78,078 $(562,792)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570
FDIC Deposit Insurance special assessment - (1,984)
Certain professional services 17,069 1,200
Severance/early retirement program costs 5,997 1,320 283 305
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 14,186 6,099 531 85 2,004
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (11,274) (1,939) (8) (318) (176,649)
Certain items, net of tax 31,867 5,480 22 897 627,722
Adjusted earnings (non-GAAP) (2) $78,980 $72,171 $68,566 $78,975 $64,930
Diluted earnings per share $0.32 $0.46 $0.47 $0.54 $(4.00)
Certain items (non-GAAP)
Loss on early extinguishment of debt -
FDIC Deposit Insurance special assessment - (0.01)
Certain professional services 0.12 0.01
Severance/early retirement program costs 0.04 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 0.10 0.04 0.01
Accelerated prepaid expenses 0.04
Tax effect of certain items (1) (0.08) (0.01) (0.01) (1.25)
Certain items, net of tax 0.22 0.04 4.46
Adjusted diluted earnings per share (non-GAAP) $0.54 $0.50 $0.47 $0.54 $0.46
(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 $47,191 $47,939 $44,197 $51,708 $(756,187)
Certain noninterest income items
Loss on early extinguishment of debt 570
Loss (gain) on sale of securities 801,492
Adjusted noninterest income (non-GAAP) $47,191 $47,939 $44,197 $51,708 $45,875
Other income $6,012 $8,599 $4,827 $12,365 $6,141
Certain other income items
Loss on early extinguishment of debt 570
Adjusted other income (non-GAAP) $6,012 $8,599 $4,827 $12,365 $6,711
Noninterest expense $182,035 $147,739 $140,673 $139,862 $142,032
Certain noninterest expense items
Severance/early retirement program costs (5,997) (1,320) (283) (305)
FDIC Deposit Insurance special assessment 1,984
Certain professional services (17,069) (1,200)
Termination of vendor and software services (12)
Loss on sale of Equipment Finance business (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (14,186) (6,099) (531) (85) (2,004)
Adjusted noninterest expense (non-GAAP) 138,894 140,320 140,643 138,647 139,723
Less: Fraud event
Adjusted noninterest expense, excluding fraud event (non-GAAP) $138,894 $140,320 $140,643 $138,647 $139,723
Salaries and employee benefits $78,077 $75,590 $75,885 $72,924 $76,249
Certain salaries and employee benefits items
Severance/early retirement program costs (5,997) (1,320) (283) (305)
Other 56 4 (1)
Adjusted salaries and employee benefits (non-GAAP) $72,136 $74,274 $75,602 $72,924 $75,943
Other operating expenses $82,119 $46,550 $44,537 $44,830 $43,027
Certain other operating expenses items
Certain professional services (17,069) (1,200)
Termination of vendor and software services (12)
Loss on sale of Equipment Finance business (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (14,174) (2,399) (205) 327 (1,556)
Adjusted other operating expenses (non-GAAP) $44,987 $44,151 $43,132 $44,027 $41,471
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Year-to-Date
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
(in thousands, except per share data)
YEAR-TO-DATE
---
Net income (loss) $182,348 $135,235 $68,544 $(397,553) $(475,631)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570 570
FDIC Deposit Insurance special assessment (1,984) (1,984) (1,984)
Certain professional services 18,269 1,200 1,200
Severance/early retirement program costs 7,600 1,603 283 1,899 1,899
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 20,816 6,630 531 3,246 3,161
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (13,221) (1,947) (8) (177,686) (177,368)
Certain items, net of tax 37,369 5,502 22 630,651 629,754
Adjusted earnings (non-GAAP) (2) $219,717 $140,737 $68,566 $233,098 $154,123
Diluted earnings per share $1.25 $0.93 $0.47 $(2.95) $(3.63)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 0.01
FDIC Deposit Insurance special assessment (0.01) (0.01) (0.01)
Certain professional services 0.13 0.01 0.01
Severance/early retirement program costs 0.05 0.01 0.01 0.02
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 0.14 0.04 0.02 0.02
Accelerated prepaid expenses 0.04
Tax effect of certain items (1) (0.09) (0.01) (1.32) (1.34)
Certain items, net of tax 0.26 0.04 4.68 4.81
Adjusted diluted earnings per share (non-GAAP) $1.51 $0.97 $0.47 $1.73 $1.18
(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 $139,327 $92,136 $44,197 $(615,970) $(667,678)
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) $139,327 $92,136 $44,197 $186,092 $134,384
Other income $19,438 $13,426 $4,827 $31,350 $18,985
Certain other income items
Loss on early extinguishment of debt 570 570
Adjusted other income (non-GAAP) $19,438 $13,426 $4,827 $31,920 $19,555
Noninterest expense $470,447 $288,412 $140,673 $565,063 $425,201
Certain noninterest expense items
Severance/early retirement program costs (7,600) (1,603) (283) (1,899) (1,899)
FDIC Deposit Insurance special assessment 1,984 1,984 1,984
Certain professional services (18,269) (1,200) (1,200)
Termination of vendor and software services (12)
Loss on sale of Equipment Finance business (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (20,816) (6,630) (531) (3,246) (3,161)
Adjusted noninterest expense (non-GAAP) 419,857 280,963 140,643 558,788 420,141
Less: Fraud event (4,300) (4,300)
Adjusted noninterest expense, excluding fraud event (non-GAAP) $419,857 $280,963 $140,643 $554,488 $415,841
Salaries and employee benefits $229,552 $151,475 $75,885 $297,859 $224,935
Certain salaries and employee benefits items
Severance/early retirement program costs (7,600) (1,603) (283) (1,899) (1,899)
Other 60 4
Adjusted salaries and employee benefits (non-GAAP) $222,012 $149,876 $75,602 $295,960 $223,036
Other operating expenses $173,206 $91,087 $44,537 $176,184 $131,354
Certain other operating expenses items
Certain professional services (18,269) (1,200) (1,200)
Termination of vendor and software services (12)
Loss on sale of Equipment Finance business (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (22,667) (2,604) (205) (1,135) (1,462)
Adjusted other operating expenses (non-GAAP) $132,270 $87,283 $43,132 $173,919 $129,892
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - End of Period
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ 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 $3,349,804 $3,481,859 $3,437,734 $3,419,240 $3,353,963
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible assets (75,132) (78,228) (81,325) (84,423) (87,520)
Total intangibles (1,395,931) (1,399,027) (1,402,124) (1,405,222) (1,408,319)
Tangible common stockholders' equity $1,953,873 $2,082,832 $2,035,610 $2,014,018 $1,945,644
Total assets $24,074,481 $24,776,816 $24,692,783 $24,540,877 $24,208,162
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible assets (75,132) (78,228) (81,325) (84,423) (87,520)
Total intangibles (1,395,931) (1,399,027) (1,402,124) (1,405,222) (1,408,319)
Tangible assets $22,678,550 $23,377,789 $23,290,659 $23,135,655 $22,799,843
Ratio of common equity to assets 13.91 % 14.05 % 13.92 % 13.93 % 13.85 %
Ratio of tangible common equity to tangible assets 8.62 % 8.91 % 8.74 % 8.71 % 8.53 %
Calculation of Tangible Book Value per Share
Total common stockholders' equity $3,349,804 $3,481,859 $3,437,734 $3,419,240 $3,353,963
Intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangible assets (75,132) (78,228) (81,325) (84,423) (87,520)
Total intangibles (1,395,931) (1,399,027) (1,402,124) (1,405,222) (1,408,319)
Tangible common stockholders' equity $1,953,873 $2,082,832 $2,035,610 $2,014,018 $1,945,644
Shares of common stock outstanding 144,517,233 144,442,482 145,058,331 144,762,817 144,703,075
Book value per common share $23.18 $24.11 $23.70 $23.62 $23.18
Tangible book value per common share $13.52 $14.42 $14.03 $13.91 $13.45
Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits
Uninsured deposits at Simmons Bank $7,223,797 $7,213,361 $7,385,688 $9,640,677 $9,565,766
Less: Collateralized deposits (excluding portion that is FDIC insured) 2,148,607 2,385,340 2,509,728 2,363,327 2,169,362
Less: Intercompany eliminations 407,004 324,404 432,795 2,729,191 2,937,147
Total uninsured, non-collateralized deposits $4,668,186 $4,503,617 $4,443,165 $4,548,159 $4,459,257
FHLB borrowing availability $4,993,000 $5,412,000 $5,831,000 $5,999,000 $6,134,000
Unpledged securities 1,091,000 1,488,000 1,571,000 1,480,000 1,575,000
Fed funds lines, Fed discount window and
Bank Term Funding Program (1) 1,863,000 1,953,000 1,595,000 1,836,000 1,824,000
Additional liquidity sources $7,947,000 $8,853,000 $8,997,000 $9,315,000 $9,533,000
Uninsured, non-collateralized deposit coverage ratio 1.7 2.0 2.0 2.0 2.1
(1) The Bank Term Funding Program closed for new loans on March 11, 2024. At no time did Simmons borrow funds under this program.
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Calculation of Adjusted Return on Average Assets & Average Tangible Assets
Net income (loss) $47,113 $66,691 $68,544 $78,078 $(562,792)
Amortization of intangibles, net of taxes 2,289 2,287 2,288 2,288 2,287
Total adjusted tangible net income (non-GAAP) $49,402 $68,978 $70,832 $80,366 $(560,505)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570
FDIC Deposit Insurance special assessment - (1,984)
Certain professional services 17,069 1,200
Severance/early retirement program costs 5,997 1,320 283 305
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 14,186 6,099 531 85 2,004
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (11,274) (1,939) (8) (318) (176,649)
Adjusted earnings (non-GAAP) 78,980 72,171 68,566 78,975 64,930
Amortization of intangibles, net of taxes 2,289 2,287 2,288 2,288 2,287
Total adjusted tangible net income (non-GAAP) $81,269 $74,458 $70,854 $81,263 $67,217
Average total assets $24,332,226 $24,638,021 $24,533,005 $24,254,447 $24,914,922
Average intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangibles (77,005) (80,123) (83,248) (86,206) (89,349)
Total average intangibles (1,397,804) (1,400,922) (1,404,047) (1,407,005) (1,410,148)
Average tangible assets (non-GAAP) $22,934,422 $23,237,099 $23,128,958 $22,847,442 $23,504,774
Return on average assets 0.77 % 1.09 % 1.13 % 1.28 % -8.96 %
Adjusted return on average assets (non-GAAP) 1.29 % 1.17 % 1.13 % 1.29 % 1.03 %
Return on average tangible assets (non-GAAP) 0.85 % 1.19 % 1.24 % 1.40 % -9.46 %
Adjusted return on average tangible assets (non-GAAP) 1.41 % 1.29 % 1.24 % 1.41 % 1.13 %
Calculation of Return on Tangible Common Equity
Net income (loss) available to common stockholders $47,113 $66,691 $68,544 $78,078 $(562,792)
Amortization of intangibles, net of taxes 2,289 2,287 2,288 2,288 2,287
Total income available to common stockholders $49,402 $68,978 $70,832 $80,366 $(560,505)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570
FDIC Deposit Insurance special assessment - (1,984)
Certain professional services 17,069 1,200
Severance/early retirement program costs 5,997 1,320 283 305
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 14,186 6,099 531 85 2,004
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (11,274) (1,939) (8) (318) (176,649)
Adjusted earnings (non-GAAP) 78,980 72,171 68,566 78,975 64,930
Amortization of intangibles, net of taxes 2,289 2,287 2,288 2,288 2,287
Total adjusted earnings available to common stockholders (non-GAAP) $81,269 $74,458 $70,854 $81,263 $67,217
Average common stockholders' equity $3,478,190 $3,478,531 $3,470,260 $3,410,017 $3,368,308
Average intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangibles (77,005) (80,123) (83,248) (86,206) (89,349)
Total average intangibles (1,397,804) (1,400,922) (1,404,047) (1,407,005) (1,410,148)
Average tangible common stockholders' equity (non-GAAP) $2,080,386 $2,077,609 $2,066,213 $2,003,012 $1,958,160
Return on average common equity 5.37 % 7.69 % 8.01 % 9.08 % -66.29 %
Return on tangible common equity 9.42 % 13.32 % 13.90 % 15.92 % -113.56 %
Adjusted return on average common equity (non-GAAP) 9.01 % 8.32 % 8.01 % 9.19 % 7.65 %
Adjusted return on tangible common equity (non-GAAP) 15.50 % 14.37 % 13.91 % 16.10 % 13.62 %
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date (continued)
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)
Noninterest expense (efficiency ratio numerator) $182,035 $147,739 $140,673 $139,862 $142,032
Certain noninterest expense items (non-GAAP)
Severance/early retirement program costs (5,997) (1,320) (283) (305)
FDIC Deposit Insurance special assessment - 1,984
Certain professional services (17,069) (1,200)
Termination of vendor and software services - (12)
Loss on sale of Equipment Finance business - (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (14,186) (6,099) (531) (85) (2,004)
Other real estate and foreclosure expense adjustment (230) (695) (315) (432) (200)
Amortization of intangibles adjustment (3,098) (3,097) (3,097) (3,097) (3,097)
Adjusted efficiency ratio numerator $135,566 $136,528 $137,231 $135,118 $136,426
Net interest income $203,976 $200,627 $197,168 $197,296 $186,661
Noninterest income 47,191 47,939 44,197 51,708 (756,187)
Fully tax-equivalent adjustment (2) 3,116 3,029 3,012 2,890 3,811
Efficiency ratio denominator 254,283 251,595 244,377 251,894 (565,715)
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 $254,283 $251,595 $244,377 $251,894 $236,347
Efficiency ratio (1) 71.59 % 58.72 % 57.56 % 55.52 % -25.11 %
Adjusted efficiency ratio (non-GAAP) (1) 53.31 % 54.26 % 56.16 % 53.64 % 57.72 %
Calculation of Total Revenue and Adjusted Total Revenue
Net interest income $203,976 $200,627 $197,168 $197,296 $186,661
Noninterest income 47,191 47,939 44,197 51,708 (756,187)
Total revenue 251,167 248,566 241,365 249,004 (569,526)
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 $251,167 $248,566 $241,365 $249,004 $232,536
Calculation of Pre-Provision Net Revenue (PPNR)
Net interest income $203,976 $200,627 $197,168 $197,296 $186,661
Noninterest income 47,191 47,939 44,197 51,708 (756,187)
Total revenue 251,167 248,566 241,365 249,004 (569,526)
Less: Noninterest expense 182,035 147,739 140,673 139,862 142,032
Pre-Provision Net Revenue (PPNR) $69,132 $100,827 $100,692 $109,142 $(711,558)
Calculation of Adjusted Pre-Provision Net Revenue
Pre-Provision Net Revenue (PPNR) $69,132 $100,827 $100,692 $109,142 $(711,558)
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 17,069 1,200
Plus: Severance/early retirement program costs 5,997 1,320 283 305
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 14,186 6,099 531 85 2,004
Plus: Accelerated prepaid expenses 5,889
Adjusted Pre-Provision Net Revenue $112,273 $108,246 $100,722 $110,357 $92,813
(1) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent} and noninterest revenues. Adjusted efficiency
ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest
income
(fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is
a non-GAAP measurement.
(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Calculation of Adjusted Return on Average Assets & Average Tangible Assets
Net income (loss) $182,348 $135,235 $68,544 $(397,553) $(475,631)
Amortization of intangibles, net of taxes 6,864 4,575 2,288 9,469 7,181
Total adjusted tangible net income (non-GAAP) $189,212 $139,810 $70,832 $(388,084) $(468,450)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570 570
FDIC Deposit Insurance special assessment (1,984) (1,984) (1,984)
Certain professional services 18,269 1,200 1,200
Severance/early retirement program costs 7,600 1,603 283 1,899 1,899
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 20,816 6,630 531 3,246 3,161
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (13,221) (1,947) (8) (177,686) (177,368)
Adjusted earnings (non-GAAP) 219,717 140,737 68,566 233,098 154,123
Amortization of intangibles, net of taxes 6,864 4,575 2,288 9,469 7,181
Total adjusted tangible net income (non-GAAP) $226,581 $145,312 $70,854 $242,567 $161,304
Average total assets $24,500,349 $24,585,803 $24,533,005 $25,614,700 $26,073,100
Average intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangibles (80,102) (81,677) (83,248) (90,913) (92,499)
Total average intangibles (1,400,901) (1,402,476) (1,404,047) (1,411,712) (1,413,298)
Average tangible assets (non-GAAP) $23,099,448 $23,183,327 $23,128,958 $24,202,988 $24,659,802
Return on average assets 1.00 % 1.11 % 1.13 % -1.55 % -2.44 %
Adjusted return on average assets (non-GAAP) 1.20 % 1.15 % 1.13 % 0.91 % 0.79 %
Return on average tangible assets (non-GAAP) 1.10 % 1.22 % 1.24 % -1.60 % -2.54 %
Adjusted return on average tangible assets (non-GAAP) 1.31 % 1.26 % 1.24 % 1.00 % 0.87 %
Calculation of Return on Tangible Common Equity
Net income (loss) available to common stockholders $182,348 $135,235 $68,544 $(397,553) $(475,631)
Amortization of intangibles, net of taxes 6,864 4,575 2,288 9,469 7,181
Total income available to common stockholders $189,212 $139,810 $70,832 $(388,084) $(468,450)
Certain items (non-GAAP)
Loss on early extinguishment of debt - 570 570
FDIC Deposit Insurance special assessment (1,984) (1,984) (1,984)
Certain professional services 18,269 1,200 1,200
Severance/early retirement program costs 7,600 1,603 283 1,899 1,899
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 20,816 6,630 531 3,246 3,161
Accelerated prepaid expenses 5,889
Tax effect of certain items (1) (13,221) (1,947) (8) (177,686) (177,368)
Adjusted earnings (non-GAAP) 219,717 140,737 68,566 233,098 154,123
Amortization of intangibles, net of taxes 6,864 4,575 2,288 9,469 7,181
Total adjusted earnings available to common stockholders (non-GAAP) $226,581 $145,312 $70,854 $242,567 $161,304
Average common stockholders' equity $3,475,690 $3,474,419 $3,470,260 $3,471,531 $3,492,261
Average intangible assets:
Goodwill (1,320,799) (1,320,799) (1,320,799) (1,320,799) (1,320,799)
Other intangibles (80,102) (81,677) (83,248) (90,913) (92,499)
Total average intangibles (1,400,901) (1,402,476) (1,404,047) (1,411,712) (1,413,298)
Average tangible common stockholders' equity (non-GAAP) $2,074,789 $2,071,943 $2,066,213 $2,059,819 $2,078,963
Return on average common equity 7.01 % 7.85 % 8.01 % -11.45 % -18.21 %
Return on tangible common equity 12.19 % 13.61 % 13.90 % -18.84 % -30.13 %
Adjusted return on average common equity (non-GAAP) 8.45 % 8.17 % 8.01 % 6.71 % 5.90 %
Adjusted return on tangible common equity (non-GAAP) 14.60 % 14.14 % 13.91 % 11.78 % 10.37 %
(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.
Simmons First National Corporation SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date (continued)
For the Quarters Ended Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
(Unaudited) 2026 2026 2026 2025 2025
($ in thousands)
Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)
Noninterest expense (efficiency ratio numerator) $470,447 $288,412 $140,673 $565,063 $425,201
Certain noninterest expense items (non-GAAP)
Severance/early retirement program costs (7,600) (1,603) (283) (1,899) (1,899)
FDIC Deposit Insurance special assessment 1,984 1,984 1,984
Certain professional services (18,269) (1,200) (1,200)
Termination of vendor and software services - (12)
Loss on sale of Equipment Finance business - (1,118)
Accelerated prepaid expenses (5,889)
Branch/real estate rightsizing costs (20,816) (6,630) (531) (3,246) (3,161)
Other real estate and foreclosure expense adjustment (1,233) (1,003) (308) (1,046) (614)
Amortization of intangibles adjustment (9,292) (6,194) (3,097) (12,819) (9,722)
Adjusted efficiency ratio numerator $409,332 $273,766 $137,238 $544,923 $409,805
Net interest income $601,771 $397,795 $197,168 $719,203 $521,907
Noninterest income 139,327 92,136 44,197 (615,970) (667,678)
Fully tax-equivalent adjustment (2) 9,157 6,041 3,012 19,537 16,647
Efficiency ratio denominator 750,255 495,972 244,377 122,770 (129,124)
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 $750,255 $495,972 $244,377 $924,832 $672,938
Efficiency ratio (1) 62.70 % 58.15 % 57.56 % 460.26 % -329.30 %
Adjusted efficiency ratio (non-GAAP) (1) 54.56 % 55.20 % 56.16 % 58.92 % 60.90 %
(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.
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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)