April 16, 2026

Simmons First National Corporation Reports First Quarter EPS of $0.47

 

FINANCIAL HIGHLIGHTS		1Q26				4Q25				1Q25				1Q26 Highlights
INCOME STATEMENT SUMMARY (in millions)														Comparisons reflect 1Q26 vs 4Q25 unless otherwise noted   • Net income of $68.5 million and diluted EPS of $0.47   • Adjusted net income1 of $68.6 million and adjusted diluted EPS1 of $0.47   • ROAA of 1.13% and ROE of 8.01%   • Adjusted ROAA1 of 1.13%; adjusted ROTCE1 of 13.91%   • Total revenue of $241.4 million and PPNR1 of $100.7 million   • Net interest margin up 3 bps to 3.84%; cost of deposits down 8 bps to 1.96%   • Efficiency ratio of 57.56%; adjusted efficiency ratio1 of 56.16%   • Broad based growth drives total loans up 10% annualized   • Unfunded commitments up 5%   • Total average deposits up 6% annualized   • Provision expense exceeded net charge-offs by $5.5 million   • NCO ratio at 21 bps for 1Q26; ACL steady at 1.28%
Total revenue		$	241.4			$	249.0			$	209.6
Adjusted total revenue1			241.4				249.0				209.6
Pre-provision net revenue1 (PPNR)			100.7				109.1				65.0
Adjusted pre-provision net revenue1			100.7				110.4				66.0
Provision for credit losses			14.6				15.1				26.8
Net income			68.5				78.1				32.4
Adjusted net income1			68.6				79.0				33.1
PER SHARE DATA
Diluted earnings		$	0.47			$	0.54			$	0.26
Adjusted diluted earnings1			0.47				0.54				0.26
Cash dividend declared			0.2150				0.2125				0.2125
BALANCE SHEET (in millions)
Total loans		$	17,933			$	17,492			$	17,094
Total deposits			20,203				20,184				21,685
Total assets			24,693				24,541				26,793
Total shareholders’ equity			3,438				3,419				3,531
ASSET QUALITY
Net charge-off ratio (NCO ratio)			0.21	%			1.12	%			0.23	%
Allowance for credit losses to loans (ACL)			1.28				1.28				1.48
CAPITAL RATIOS
Equity to assets (EA) ratio			13.92	%			13.93	%			13.18	%
Tangible common equity (TCE) ratio1			8.74				8.71				8.34
Common equity tier 1 (CET1) ratio			11.58				11.63				12.21
Total risk-based capital ratio			14.36				14.45				14.59
OTHER RATIOS
Return on average assets			1.13	%			1.28	%			0.49	%
Adjusted return on average assets1			1.13				1.29				0.50
Return on average common equity			8.01				9.08				3.69
Return on average tangible common equity1			13.90				15.92				6.61
Adj. return on avg. tangible common equity1			13.91				16.10				6.75
Net interest margin (FTE)			3.84				3.81				2.95
Efficiency ratio			57.56				55.52				66.94
Adjusted efficiency ratio1			56.16				53.64				64.75

Jay Brogdon, Simmons’ President and CEO, commented on first quarter 2026 results:

Simmons delivered solid results in the first quarter driven by strong loan growth, expanding margin, and continued earnings momentum. Loans grew 10 percent linked quarter annualized, with growth broad-based across geography and industry. Net interest margin expanded linked quarter, increasing three basis points to 3.84 percent, benefiting from disciplined relationship pricing, fixed rate asset repricing and improving funding costs. Net charge-offs for the quarter were 21 basis points and provision expense exceeded net charge-offs by $5.5 million, primarily due to loan growth.

Looking forward, we remain committed to delivering disciplined growth and designing a more efficient and scalable infrastructure. The talent environment continues to be favorable and supports our organic growth priorities. We are increasingly optimistic about the prospects for consistently achieving returns that exceed our long-range targets.

Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $68.5 million for the first quarter of 2026, compared to net income of $78.1 million for the fourth quarter of 2025 and net income of $32.4 million for the first quarter of 2025. Diluted earnings per share were $0.47 for the first quarter of 2026, compared to $0.54 for the fourth quarter of 2025 and $0.26 for the first quarter of 2025. Adjusted earnings¹ for the first quarter of 2026 were $68.6 million, compared to $79.0 million for the fourth quarter of 2025 and $33.1 million for the first quarter of 2025. Adjusted diluted earnings per share¹ for the first quarter of 2026 were $0.47, compared to $0.54 for the fourth quarter of 2025 and $0.26 for the first quarter of 2025.

For the first quarter of 2026, return on average assets was 1.13 percent and return on average common equity was 8.01 percent. Adjusted return on average assets¹ was 1.13 percent and adjusted return on average tangible common equity¹ was 13.91 percent.

The table below summarizes the impact of certain items, consisting primarily of FDIC deposit insurance special assessment, professional services, branch right sizing costs, early retirement program costs and a loss on the sale of equipment finance business. 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		1Q26				4Q25				1Q25
Net income		$	68.5			$	78.1			$	32.4
FDIC deposit insurance special assessment			(2.0	)			—				—
Professional services			1.2				—				—
Branch right sizing costs, net			0.6				0.1				1.0
Early retirement program costs			0.3				—				—
Loss on sale of equipment finance business			—				1.1				—
Total pre-tax impact			0.1				1.2				1.0
Tax effect			—				(0.3	)			(0.3	)
Total impact on earnings			0.1				0.9				0.7
Adjusted earnings1, 3		$	68.6			$	79.0			$	33.1
Diluted EPS		$	0.47			$	0.54			$	0.26
FDIC deposit insurance special assessment			(0.01	)			—				—
Professional services			0.01				—				—
Branch right sizing costs, net			—				—				—
Early retirement program costs			—				—				—
Loss on sale of equipment finance business			—				0.01				—
Total pre-tax impact			—				0.01				—
Tax effect			—				(0.01	)			—
Total impact on earnings			—				—				—
Adjusted Diluted EPS1		$	0.47			$	0.54			$	0.26

Net Interest Income

Net interest income for the first quarter of 2026 totaled $197.2 million, compared to $197.3 million for the fourth quarter of 2025 and $163.4 million for the first quarter of 2025. The increase in net interest income on a year-over-year basis was primarily due to a $39.8 million decrease in interest expense, which included a $32.9 million decrease in interest bearing deposit costs and a $6.9 million decrease in the cost of other interest bearing liabilities. The decrease in interest expense compared to the prior year quarter reflected a reduction of 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 first quarter of 2026 on a fully taxable equivalent basis was 3.84 percent, up 3 basis points compared to 3.81 percent for the fourth quarter of 2025 and up 89 basis points compared to 2.95 percent for the first quarter of 2025. The increase in net interest margin on a linked quarter basis was driven by a 6 percent annualized increase in average loans, coupled with a 13 percent annualized increase in average low-cost interest bearing transaction and savings accounts. 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		1Q26				4Q25				3Q25				2Q25				1Q25
Loan yield (FTE)2			6.16	%			6.23	%			6.31	%			6.26	%			6.20	%
Investment securities yield (FTE)2			4.25				4.30				4.01				3.48				3.48
Cost of interest bearing deposits			2.47				2.62				2.86				2.97				3.05
Cost of deposits			1.96				2.04				2.25				2.36				2.44
Net interest spread (FTE)2			3.27				3.18				2.86				2.41				2.30
Net interest margin (FTE)2			3.84				3.81				3.50				3.06				2.95

Noninterest Income

Noninterest income for the first quarter of 2026 was $44.2 million, compared to $51.7 million in the fourth quarter of 2025 and $46.2 million in the first quarter of 2025. The decrease in noninterest income on a linked quarter basis was primarily due to a Small Business Investment Company (SBIC) negative valuation adjustment in the first quarter of 2026 and proceeds from bank owned life insurance death benefits recorded in the fourth quarter of 2025, both of which are included in other income in the table below.

 

Noninterest Income $ in millions		1Q26				4Q25				3Q25				2Q25				1Q25
Service charges on deposit accounts		$	12.7			$	12.7			$	13.0			$	12.6			$	12.6
Wealth management fees			10.5				10.3				10.0				9.5				9.6
Debit and credit card fees			8.5				8.7				8.5				8.6				8.4
Mortgage lending income			1.9				2.2				2.3				1.7				2.0
Other service charges and fees			1.6				1.5				1.5				1.3				1.3
Bank owned life insurance			4.2				3.9				3.9				3.9				4.1
Gain (loss) on sale of securities			—				—				(801.5	)			—				—
Other income			4.8				12.4				6.1				4.8				8.0
Total noninterest income		$	44.2			$	51.7			$	(756.2	)		$	42.4			$	46.2
Adjusted noninterest income1		$	44.2			$	51.7			$	45.9			$	42.4			$	46.2

Noninterest Expense

Noninterest expense for the first quarter of 2026 was $140.7 million, compared to $139.9 million in the fourth quarter of 2025 and $144.6 million in the first quarter of 2025. Included in noninterest expense are certain items consisting of branch right sizing costs, early retirement program costs, termination of vendor and software services, FDIC Deposit Insurance special assessment, professional services and a loss on the sale of an equipment finance business. Collectively, these items totaled $30 thousand in the first quarter of 2026, $1.2 million in the fourth quarter of 2025 and $1.0 million in the first quarter of 2025. Excluding these items (which are described in the “Reconciliation of Non-GAAP Financial Measures” table below) adjusted noninterest expense¹ was $140.6 million in the first quarter of 2026, $138.6 million in the fourth quarter of 2025 and $143.6 million in the first quarter of 2025. The increase in adjusted noninterest expense on a linked quarter basis was primarily due to an increase in salaries and benefits reflecting a seasonal increase in payroll taxes expense incurred during the first quarter of 2026.

 

Noninterest Expense $ in millions		1Q26				4Q25				3Q25				2Q25				1Q25
Salaries and employee benefits		$	75.9			$	72.9			$	76.2			$	73.9			$	74.8
Occupancy expense, net			12.2				11.6				12.1				11.8				12.7
Furniture and equipment			5.4				5.3				5.3				5.5				5.5
Deposit insurance			2.3				4.7				5.2				4.9				5.4
Other real estate and foreclosure expense			0.3				0.4				0.2				0.2				0.2
Other operating expenses			44.5				44.8				43.0				42.3				46.1
Total noninterest expense		$	140.7			$	139.9			$	142.0			$	138.6			$	144.6
Adjusted salaries and employee benefits1		$	75.6			$	72.9			$	75.9			$	72.3			$	74.8
Adjusted other operating expenses1			43.1				44.0				41.5				42.5				45.9
Adjusted noninterest expense1			140.6				138.6				139.7				136.8				143.6
Efficiency ratio			57.56	%			55.52	%			(25.11	)%			62.82	%			66.94	%
Adjusted efficiency ratio1			56.16				53.64				57.72				60.52				64.75
Full-time equivalent employees			2,913				2,917				2,883				2,947				2,949
Number of financial centers			221				222				223				223				222

Loans and Unfunded Loan Commitments

Total loans at the end of the first quarter of 2026 were $17.9 billion, up $440.7 million, or 10 percent annualized, compared to $17.5 billion at the end of the fourth quarter of 2025. The increase in total loans was driven by increases in commercial real estate, commercial and industrial, mortgage warehouse and agricultural portfolios, offset in part by a decrease in real estate construction. Unfunded loan commitments at the end of the first quarter of 2026 were $4.1 billion, compared to $3.9 billion at the end of the fourth quarter of 2025. The commercial loan pipeline totaled $1.6 billion at the end of the first quarter of 2026, and ready-to-close commercial loans totaled $651 million with a weighted average rate of 6.40 percent.

 

Loans and Unfunded Loan Commitments $ in millions		1Q26				4Q25				3Q25				2Q25				1Q25
Total loans		$	17,933			$	17,492			$	17,189			$	17,111			$	17,094
Unfunded loan commitments			4,068				3,871				3,955				3,947				3,888

Deposits and Other Borrowings

Total deposits at the end of the first quarter of 2026 were $20.2 billion, up $19 million compared to the end of the fourth quarter of 2025. The increase in total deposits reflected a $214 million increase in interest bearing transaction accounts and savings accounts, offset primarily from the continued planned run-off of higher rate, non-relationship time deposits or subsequent reinvestment of maturing time deposits into lower cost deposits. 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 first quarter of 2026 were $446.8 million, compared to $302.3 million at the end of the fourth quarter of 2025 and $884.9 million at the end of the first quarter of 2025. The decrease in other borrowings on a year-over-year basis reflected a reduction of higher cost wholesale funding, primarily FHLB advances, as part of the balance sheet repositioning completed during the third quarter of 2025.

Deposits

$ in millions		1Q26				4Q25				3Q25				2Q25				1Q25
Noninterest bearing deposits		$	4,290			$	4,330			$	4,377			$	4,468			$	4,455
Interest bearing transaction accounts			10,667				10,453				10,289				10,532				10,621
Time deposits			3,334				3,508				3,331				3,588				3,695
Brokered deposits			1,912				1,893				1,841				3,237				2,914
Total deposits		$	20,203			$	20,184			$	19,838			$	21,825			$	21,684
Noninterest bearing deposits to total deposits			21	%			21	%			22	%			20	%			21	%
Total loans to total deposits			89				87				87				78				79

Asset Quality

Provision for credit losses on loans totaled $14.6 million for the first quarter of 2026, compared to $15.1 million in the fourth quarter of 2025 and $26.8 million in the first quarter of 2025. Net charge-offs as a percentage of average loans for the first quarter of 2026 were 21 basis points, compared to 112 basis points in the fourth quarter of 2025 and 23 basis points in the first quarter of 2025. Provision for credit losses on loans exceeded net charge-offs by $5.5 million during the first quarter of 2026 primarily as a result of strong loan growth during the quarter. The allowance for credit losses on loans at the end of the first quarter of 2026 was $229.9 million, compared to $224.4 million at the end of the fourth quarter of 2025 and $252.2 million at the end of the first quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the first quarter of 2026 was 1.28 percent, unchanged from the end of the fourth quarter of 2025.

Total nonperforming loans at the end of the first quarter of 2026 totaled $141.9 million, compared to $112.7 million at the end of the fourth quarter of 2025 and $152.3 million at the end of the first quarter of 2025. The increase in nonperforming loans on a linked quarter basis was primarily due to a single real estate construction relationship that is well collateralized and that management believes has limited loss content. The nonperforming loan coverage ratio ended the first quarter of 2026 at 162 percent, compared to 199 percent at the end of the fourth quarter of 2025 and 165 percent at the end of the first quarter of 2025. Total nonperforming assets as a percentage of total assets were 63 basis points at the end of the first quarter of 2026, compared to 51 basis points at the end of the fourth quarter of 2025 and 61 basis points at the end of the first quarter of 2025.

Asset Quality

$ in millions		1Q26				4Q25				3Q25				2Q25				1Q25
Allowance for credit losses on loans to total loans			1.28	%			1.28	%			1.50	%			1.48	%			1.48	%
Allowance for credit losses on loans to nonperforming loans			162				199				168				161				165
Nonperforming loans to total loans			0.79				0.64				0.90				0.92				0.89
Net charge-off ratio (annualized)			0.21				1.12				0.25				0.25				0.23
Net charge-off ratio YTD (annualized)			0.21				0.47				0.24				0.24				0.23
Total nonperforming loans		$	141.9			$	112.7			$	153.9			$	157.2			$	152.3
Total other nonperforming assets			12.6				12.4				6.8				9.5				10.0
Total nonperforming assets		$	154.5			$	125.1			$	160.7			$	166.7			$	162.3
Reserve for unfunded commitments		$	25.6			$	25.6			$	25.6			$	25.6			$	25.6

Capital

Total stockholders’ equity at the end of the first quarter of 2026 and fourth quarter of 2025 was $3.4 billion, compared to $3.5 billion at the end of the first quarter of 2025. Book value per share at the end of the first quarter of 2026 was $23.70, compared to $23.62 at the end of the fourth quarter of 2025 and $28.04 at the end of the first quarter of 2025. Tangible book value per share¹ at the end of the first quarter of 2026 was $14.03, compared to $13.91 at the end of the fourth quarter of 2025 and $16.81 at the end of the first 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 $37.4 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 first quarter of 2026 was 13.9 percent, unchanged from fourth quarter of 2025 levels and up from 13.2 percent at the end of the first quarter of 2025. Tangible common equity as a percentage of tangible assets¹ was 8.7 percent at the end of the first quarter of 2026, unchanged from the fourth quarter of 2025 and up from 8.3 percent at the end of the first quarter of 2025. Each of the applicable regulatory capital ratios for Simmons and its principal subsidiary, Simmons Bank, continue to significantly exceed “well-capitalized” regulatory guidelines.

Select Capital Ratios

		1Q26				4Q25				3Q25				2Q25				1Q25
Stockholders’ equity to total assets			13.9	%			13.9	%			13.9	%			13.3	%			13.2	%
Tangible common equity to tangible assets1			8.7				8.7				8.5				8.5				8.3
Common equity tier 1 (CET1) ratio			11.6				11.6				11.5				12.4				12.2
Tier 1 leverage ratio			10.1				10.1				9.6				10.0				9.8
Tier 1 risk-based capital ratio			11.6				11.6				11.5				12.4				12.2
Total risk-based capital ratio			14.4				14.4				15.1				14.4				14.6

Share Repurchase Program

During the first quarter of 2026, Simmons did not repurchase shares under its stock repurchase program that was authorized in February 2026 (2026 Program) and which replaced its former repurchase program that was authorized in January 2024. Remaining authorization under the 2026 Program as of March 31, 2026, was approximately $175 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, April 17, 2026. Interested persons 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 10207627. 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 more than 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 right sizing costs, early retirement program costs, termination of vendor and software services, FDIC Deposit Insurance special assessment, professional services and a loss on the sale of an equipment finance business.

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 we have 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, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.

FOR MORE INFORMATION CONTACT:

Ed Bilek, EVP, Director of Investor and Media Relations

ed.bilek@simmonsbank.com

205.612.3378 (cell)

Simmons First National Corporation		SFNC
Consolidated End of Period Balance Sheets For the Quarters Ended (Unaudited)

 

		Mar 31 2026				Dec 31 2025				Sep 30 2025				Jun 30 2025				Mar 31 2025
($ in thousands)
ASSETS
Cash and noninterest bearing balances due from banks		$	342,603			$	380,439			$	377,604			$	398,081			$	423,171
Interest bearing balances due from banks and federal funds sold			205,880				331,474				266,013				246,381				211,115
Cash and cash equivalents			548,483				711,913				643,617				644,462				634,286
Interest bearing balances due from banks - time			100				100				100				100				100
Investment securities - held-to-maturity			—				—				—				3,591,531				3,615,556
Investment securities - available-for-sale			3,152,286				3,266,221				3,319,277				2,405,320				2,491,849
Mortgage loans held for sale			14,311				17,438				15,507				16,972				8,351
Assets held in trading accounts			14,543				11,685				12,695				—				—
Loans:
Loans			17,932,883				17,492,179				17,188,817				17,111,096				17,094,078
Allowance for credit losses on loans			(229,908	)			(224,377	)			(258,006	)			(253,537	)			(252,168	)
Net loans			17,702,975				17,267,802				16,930,811				16,857,559				16,841,910
Premises and equipment			557,873				561,220				568,343				573,160				573,616
Foreclosed assets and other real estate owned			12,475				12,009				6,386				8,794				8,976
Interest receivable			101,557				104,062				104,383				120,443				117,398
Bank owned life insurance			542,486				540,001				539,372				535,481				535,324
Goodwill			1,320,799				1,320,799				1,320,799				1,320,799				1,320,799
Other intangible assets			81,325				84,423				87,520				90,617				93,714
Other assets			643,570				643,204				659,352				528,382				551,112
Total assets		$	24,692,783			$	24,540,877			$	24,208,162			$	26,693,620			$	26,792,991
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest bearing transaction accounts		$	4,289,697			$	4,330,211			$	4,377,232			$	4,468,237			$	4,455,255
Interest bearing transaction accounts and savings deposits			11,311,979				11,141,169				10,932,914				11,176,791				11,265,554
Time deposits			4,601,107				4,712,658				4,527,587				6,179,962				5,963,811
Total deposits			20,202,783				20,184,038				19,837,733				21,824,990				21,684,620
Federal funds purchased and securities sold under agreements to repurchase			8,708				21,383				22,348				31,306				50,133
Other borrowings			446,756				302,253				18,832				634,349				884,863
Subordinated notes and debentures			315,700				317,714				648,976				366,369				366,331
Accrued interest and other liabilities			281,102				296,249				326,310				287,396				275,559
Total liabilities			21,255,049				21,121,637				20,854,199				23,144,410				23,261,506
Stockholders’ equity:
Common stock			1,451				1,448				1,447				1,260				1,259
Surplus			2,848,952				2,846,581				2,848,977				2,518,286				2,515,372
Undivided profits			901,696				864,341				817,022				1,410,564				1,382,564
Accumulated other comprehensive (loss) income			(314,365	)			(293,130	)			(313,483	)			(380,900	)			(367,710	)
Total stockholders’ equity			3,437,734				3,419,240				3,353,963				3,549,210				3,531,485
Total liabilities and stockholders’ equity		$	24,692,783			$	24,540,877			$	24,208,162			$	26,693,620			$	26,792,991

 

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Simmons First National Corporation		SFNC
Consolidated Statements of Income - Quarter-to-Date For the Quarters Ended (Unaudited)

 

		Mar 31 2026				Dec 31 2025				Sep 30 2025				Jun 30 2025				Mar 31 2025
($ in thousands, except per share data)
INTEREST INCOME
Loans (including fees)		$	267,287			$	270,868			$	269,210			$	265,373			$	257,755
Interest bearing balances due from banks and federal funds sold			2,320				2,485				6,421				2,531				2,703
Investment securities			31,882				33,833				37,464				46,898				47,257
Mortgage loans held for sale			203				227				229				221				122
Assets held in trading accounts			122				118				99				—				—
TOTAL INTEREST INCOME			301,814				307,531				313,423				315,023				307,837
INTEREST EXPENSE
Time deposits			39,949				41,989				49,064				57,231				62,559
Other deposits			57,653				60,516				67,546				69,108				67,895
Federal funds purchased and securities sold under agreements to repurchase			36				57				72				59				113
Other borrowings			1,746				2,138				2,957				10,613				7,714
Subordinated notes and debentures			5,262				5,535				7,123				6,188				6,134
TOTAL INTEREST EXPENSE			104,646				110,235				126,762				143,199				144,415
NET INTEREST INCOME			197,168				197,296				186,661				171,824				163,422
PROVISION FOR CREDIT LOSSES
Provision for credit losses on loans			14,622				15,116				15,180				11,945				26,797
Provision for credit losses on investment securities – HTM			—				—				(3,214	)			—				—
TOTAL PROVISION FOR CREDIT LOSSES			14,622				15,116				11,966				11,945				26,797
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES			182,546				182,180				174,695				159,879				136,625
NONINTEREST INCOME
Service charges on deposit accounts			12,656				12,669				13,045				12,588				12,635
Debit and credit card fees			8,503				8,660				8,478				8,567				8,446
Wealth management fees			10,533				10,337				9,965				9,464				9,629
Mortgage lending income			1,854				2,232				2,259				1,687				2,013
Bank owned life insurance income			4,218				3,942				3,943				3,890				4,092
Other service charges and fees (includes insurance income)			1,606				1,503				1,474				1,321				1,333
Gain (loss) on sale of securities			—				—				(801,492	)			—				—
Other income			4,827				12,365				6,141				4,837				8,007
TOTAL NONINTEREST INCOME			44,197				51,708				(756,187	)			42,354				46,155
NONINTEREST EXPENSE
Salaries and employee benefits			75,885				72,924				76,249				73,862				74,824
Occupancy expense, net			12,218				11,636				12,106				11,844				12,651
Furniture and equipment expense			5,423				5,304				5,275				5,474				5,465
Other real estate and foreclosure expense			315				432				200				216				198
Deposit insurance			2,295				4,736				5,175				4,917				5,391
Other operating expenses			44,537				44,830				43,027				42,276				46,051
TOTAL NONINTEREST EXPENSE			140,673				139,862				142,032				138,589				144,580
NET INCOME (LOSS) BEFORE INCOME TAXES			86,070				94,026				(723,524	)			63,644				38,200
Provision for income taxes			17,526				15,948				(160,732	)			8,871				5,812
NET INCOME (LOSS)		$	68,544			$	78,078			$	(562,792	)		$	54,773			$	32,388
BASIC EARNINGS PER SHARE		$	0.47			$	0.54			$	(4.01	)		$	0.43			$	0.26
DILUTED EARNINGS PER SHARE		$	0.47			$	0.54			$	(4.00	)		$	0.43			$	0.26

 

Page 2

Simmons First National Corporation		SFNC
Consolidated Risk-Based Capital
For the Quarters Ended (Unaudited)

 

		Mar 31 2026				Dec 31 2025				Sep 30 2025				Jun 30 2025				Mar 31 2025
($ in thousands)
Tier 1 capital
Stockholders’ equity		$	3,437,734			$	3,419,240			$	3,353,963			$	3,549,210			$	3,531,485
Disallowed intangible assets, net of deferred tax			(1,370,562	)			(1,374,839	)			(1,376,255	)			(1,379,104	)			(1,381,953	)
Unrealized loss (gain) on AFS securities			314,365				293,130				313,483				380,900				367,710
Total Tier 1 capital			2,381,537				2,337,531				2,291,191				2,551,006				2,517,242
Tier 2 capital
Subordinated notes and debentures			315,700				317,714				648,976				366,369				366,331
Subordinated debt phase out			—				—				(198,000	)			(198,000	)			(132,000	)
Qualifying allowance for loan losses and reserve for unfunded commitments			255,537				250,006				248,710				258,079				257,769
Total Tier 2 capital			571,237				567,720				699,686				426,448				492,100
Total risk-based capital		$	2,952,774			$	2,905,251			$	2,990,877			$	2,977,454			$	3,009,342
Risk weighted assets		$	20,565,445			$	20,106,493			$	19,861,879			$	20,646,324			$	20,621,540
Adjusted average assets for leverage ratio		$	23,487,513			$	23,224,638			$	23,963,356			$	25,606,135			$	25,619,424
Ratios at end of quarter
Equity to assets			13.92	%			13.93	%			13.85	%			13.30	%			13.18	%
Tangible common equity to tangible assets (1)			8.74	%			8.71	%			8.53	%			8.46	%			8.34	%
Common equity Tier 1 ratio (CET1)			11.58	%			11.63	%			11.54	%			12.36	%			12.21	%
Tier 1 leverage ratio			10.14	%			10.06	%			9.56	%			9.96	%			9.83	%
Tier 1 risk-based capital ratio			11.58	%			11.63	%			11.54	%			12.36	%			12.21	%
Total risk-based capital ratio			14.36	%			14.45	%			15.07	%			14.42	%			14.59	%

 

(1)	Calculations of tangible common equity to tangible assets and the reconciliations to GAAP are included in the schedules accompanying this release.

 

Page 3

Simmons First National Corporation		SFNC
Consolidated Investment Securities
For the Quarters Ended (Unaudited)

 

		Mar 31 2026				Dec 31 2025				Sep 30 2025				Jun 30 2025				Mar 31 2025
($ in thousands)
Investment Securities - End of Period
Held-to-Maturity
U.S. Government agencies		$	—			$	—			$	—			$	457,228			$	456,545
Mortgage-backed securities			—				—				—				1,024,313				1,048,170
State and political subdivisions			—				—				—				1,855,614				1,856,905
Other securities			—				—				—				254,376				253,936
Total held-to-maturity (net of credit losses)			—				—				—				3,591,531				3,615,556
Available-for-Sale
U.S. Treasury		$	—			$	—			$	—			$	400			$	699
U.S. Government agencies			46,329				47,172				48,355				49,498				52,318
Mortgage-backed securities			2,128,732				2,201,958				2,249,593				1,349,991				1,380,913
State and political subdivisions			838,880				859,071				845,371				807,842				832,898
Other securities			138,345				158,020				175,958				197,589				225,021
Total available-for-sale (net of credit losses)			3,152,286				3,266,221				3,319,277				2,405,320				2,491,849
Total investment securities (net of credit losses)		$	3,152,286			$	3,266,221			$	3,319,277			$	5,996,851			$	6,107,405
Fair value - HTM investment securities		$	—			$	—			$	—			$	2,891,974			$	2,929,625

 

Page 4

Simmons First National Corporation		SFNC
Consolidated Loans
For the Quarters Ended
(Unaudited)

 

		Mar 31 2026				Dec 31 2025				Sep 30 2025				Jun 30 2025				Mar 31 2025
($ in thousands)
Loan Portfolio - End of Period
Consumer:
Credit cards		$	172,610			$	175,760			$	173,020			$	176,166			$	179,680
Other consumer			96,387				115,472				112,335				123,831				97,198
Total consumer			268,997				291,232				285,355				299,997				276,878
Real Estate:
Construction			2,621,859				2,873,807				2,874,823				2,784,578				2,778,245
Single-family residential			2,566,162				2,607,450				2,617,849				2,625,717				2,647,451
Other commercial real estate			8,764,648				8,289,968				7,875,649				7,961,412				8,051,304
Total real estate			13,952,669				13,771,225				13,368,321				13,371,707				13,477,000
Commercial:
Commercial			2,521,440				2,382,339				2,397,388				2,440,507				2,372,681
Agricultural			333,508				306,300				353,181				333,078				264,469
Total commercial			2,854,948				2,688,639				2,750,569				2,773,585				2,637,150
Other			856,269				741,083				784,572				665,807				703,050
Total loans		$	17,932,883			$	17,492,179			$	17,188,817			$	17,111,096			$	17,094,078

 

Page 5