Simmons First National Corporation Reports Second Quarter Results

Simmons First National Corporation Reports Second Quarter Results PINE BLUFF, Ark., July 16, 2026 /PRNewswire/ --

Financial Highlights

2Q26

1Q26

2Q25

2Q26 Highlights

Income Statement Summary (in millions)

Comparisons reflect 2Q26 vs 1Q26

unless otherwise noted

Total revenue

$ 248.6

$ 241.4

$214.2

Adjusted total revenue 1

248.6

241.4

214.2

Pre-provision net revenue 1 (PPNR)

100.8

100.7

75.6

Adjusted pre-provision net revenue 1

108.2

100.7

77.3

Provision for credit losses

17.4

14.6

11.9

Net income

66.7

68.5

54.8

Adjusted net income 1

72.2

68.6

56.1

Per Share Data

Diluted earnings

$ 0.46

$ 0.47

$ 0.43

Adjusted diluted earnings 1

0.50

0.47

0.44

Cash dividend declared

0.2150

0.2125

Balance Sheet (in millions)

Total loans

$18,062

$17,933

$17,111

Total deposits

19,728

20,203

21,825

Total assets

24,777

24,693

26,694

Total shareholders' equity

3,482

3,438

3,549

Asset Quality

Net charge-off ratio (NCO ratio)

0.20 %

0.21 %

0.25 %

Allowance for credit losses to loans (ACL)

1.32

1.28

1.48

Capital Ratios

Equity to assets (EA) ratio

14.05 %

13.92 %

13.30 %

Tangible common equity (TCE) ratio 1

8.91

8.74

8.46

Common equity tier 1 (CET1) ratio

11.60

11.58

12.36

Total risk-based capital ratio

14.35

14.36

14.42

Other Ratios

Return on average assets

1.09 %

1.13 %

0.82 %

Adjusted return on average assets 1

1.17

1.13

0.84

Return on average common equity

7.69

8.01

6.20

Return on average tangible common equity 1

13.32

13.90

10.73

Adj. return onavg. tangible common equity 1

14.37

13.91

10.97

Net interest margin (FTE) 2

3.84

3.06

Efficiency ratio

58.72

57.56

62.82

Adjusted efficiency ratio 1

54.26

56.16

60.52

Jay Brogdon, Simmons' President and CEO, commented on second quarter 2026 results:

"Simmons delivered continued expansion in returns in the second quarter, reflecting revenue growth coupled with disciplined expense control. Committed loan production reached $1.8 billion, its highest quarterly level in almost four years, partially offset by expected paydowns, while our focus on disciplined loan and deposit pricing supported a stable net interest margin. Underlying trends in asset quality remain constructive, with net charge-offs of 20 basis points, provision expense exceeding net charge-offs by $8.3 million and continued positive trends in classified and criticized loans, even as we manage a single relationship that fully migrated to nonperforming in the second quarter.

During the quarter, the continued execution of efficiency initiatives more than funded our investments in the business, reflecting ongoing progress of our continuous improvement mindset. These actions included the elimination of certain positions and further optimization of our real estate footprint through meaningful square footage reductions. As we look to the remainder of the year, we expect to sharpen our focus on the disciplined execution of these types of initiatives, which we believe will more than fund additional investments designed to further enhance the quality and sustainability of our organic growth outlook."

Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $66.7 million for the second quarter of 2026, compared to net income of $68.5 million for the first quarter of 2026 and $54.8 million for the second quarter of 2025. Diluted earnings per share were $0.46 for the second quarter of 2026, compared to $0.47 for the first quarter of 2026 and $0.43 for the second quarter of 2025. Adjusted earnings 1 for the second quarter of 2026 were $72.2 million, compared to $68.6 million for the first quarter of 2026 and $56.1 million for the second quarter of 2025. Adjusted diluted earnings per share 1 for the second quarter of 2026 were $0.50, compared to $0.47 for the first quarter of 2026 and $0.44 for the second quarter of 2025.

For the second quarter of 2026, return on average assets was 1.09 percent and return on average common equity was 7.69 percent. Adjusted return on average assets 1 was 1.17 percent and adjusted return on average tangible common equity 1 was 14.37 percent.

The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.

Impact of Certain Items on Earnings and Diluted Earnings Per Share (EPS)

$ in millions, except per share data

2Q26

1Q26

2Q25

Net income

$ 66.7

$ 68.5

$ 54.8

Branch/real estate rightsizing costs, net

6.1

0.6

0.2

Severance/early retirement program costs

1.3

0.3

1.6

FDIC deposit insurance special assessment

(2.0)

Certain professional services

1.2

Total pre-tax impact

7.4

0.1

1.8

Tax effect

(1.9)

(0.5)

Total impact on earnings

5.5

0.1

1.3

Adjusted earnings 1, 3

$ 72.2

$ 68.6

$ 56.1

Diluted EPS

$ 0.46

$ 0.47

$ 0.43

Branch/real estate rightsizing costs, net

0.04

Severance/early retirement program costs

0.01

FDIC deposit insurance special assessment

(0.01)

Certain professional services

0.01

Total pre-tax impact

0.05

0.01

Tax effect

(0.01)

Total impact on earnings

0.04

0.01

Adjusted Diluted EPS 1

$ 0.50

$ 0.47

$ 0.44

Net Interest Income

Net interest income for the second quarter of 2026 totaled $200.6 million, up $3.5 million, or 7 percent annualized, compared to $197.2 million for the first quarter of 2026 and up $28.8 million, or 17 percent, compared to $171.8 million for the second quarter of 2025. The increase in net interest income on a linked quarter basis was primarily due to a $5.9 million increase in interest income, driven by a $7.0 million increase in loan interest income, offset in part by a $2.4 million increase in interest expense. The increase in net interest income on a year-over-year basis was primarily due to a $36.1 million decrease in interest expense, which included a $30.8 million decrease in interest bearing deposit costs and a $5.3 million decrease in the cost of other interest bearing liabilities. The decrease in interest expense compared to the prior year quarter reflected a reduction in wholesale funding as a result of the balance sheet repositioning completed in the third quarter of 2025, as well as a lower interest rate environment.

Net interest margin for the second quarter of 2026 on a fully taxable equivalent (FTE) basis 2 was 3.84 percent, unchanged from first quarter 2026 levels and up 78 basis points compared to 3.06 percent for the second quarter of 2025. The increase in net interest margin on a year-over-year basis primarily reflected the balance sheet repositioning that was completed during the third quarter of 2025.

Select Yield/Rates

2Q26

1Q26

4Q25

3Q25

2Q25

Loan yield (FTE) 2

6.15 %

6.16 %

6.23 %

6.31 %

6.26 %

Investment securities yield (FTE) 2

4.26

4.25

4.30

4.01

3.48

Cost of interest bearing deposits

2.46

2.47

2.62

2.86

2.97

Cost of deposits

1.93

1.96

2.04

2.25

2.36

Net interest spread (FTE) 2

3.26

3.27

3.18

2.86

2.41

Net interest margin (FTE) 2

3.84

3.81

3.50

3.06

Noninterest Income

Noninterest income for the second quarter of 2026 was $47.9 million, compared to $44.2 million in the first quarter of 2026 and $42.4 million in the second quarter of 2025. The increase in noninterest income on a linked quarter basis was primarily due to an increase in swap fee income and a positive valuation adjustment on Small Business Investment Company (SBIC) investments in the second quarter of 2026, both of which are included in other income in the table below.

Noninterest Income

$ in millions

2Q26

1Q26

4Q25

3Q25

2Q25

Service charges on deposit accounts

$ 12.3

$ 12.7

$ 13.0

$ 12.6

Wealth management fees

10.2

10.5

10.3

10.0

9.5

Debit and credit card fees

9.0

8.5

8.7

8.5

8.6

Mortgage lending income

2.0

1.9

2.2

2.3

1.7

Other service charges and fees

1.6

1.5

1.3

Bank owned life insurance

4.2

3.9

Gain (loss) on sale of securities

(801.5)

Other income

8.6

4.8

12.4

6.1

4.8

Total noninterest income

$ 47.9

$ 44.2

$ 51.7

$(756.2)

$ 42.4

Adjusted noninterest income 1

$ 47.9

$ 44.2

$ 51.7

$ 45.9

$ 42.4

Noninterest Expense

Noninterest expense for the second quarter of 2026 was $147.7 million, compared to $140.7 million in the first quarter of 2026 and $138.6 million in the second quarter of 2025. Included in noninterest expense are certain items consisting of branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services. Collectively, these items totaled $7.4 million in the second quarter of 2026, $30 thousand in the first quarter of 2026 and $1.8 million in the second quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense 1 was $140.3 million in the second quarter of 2026, $140.6 million in the first quarter of 2026 and $136.8 million in the second quarter of 2025. The efficiency ratio for the second quarter of 2026 was 58.72 percent, compared to 57.56 percent for the first quarter of 2026 and 62.82 percent for the second quarter of 2025. The adjusted efficiency ratio 1 was 54.26 percent for the second quarter of 2026, compared to 56.16 percent for the first quarter of 2026 and 60.52 percent for the second quarter of 2025.

Noninterest Expense

$ in millions

2Q26

1Q26

4Q25

3Q25

2Q25

Salaries and employee benefits

$ 75.6

$ 75.9

$ 72.9

$ 76.2

$ 73.9

Occupancy expense, net

14.7

12.2

11.6

12.1

11.8

Furniture and equipment

5.7

5.4

5.3

5.5

Deposit insurance

4.5

2.3

4.7

5.2

4.9

Other real estate and foreclosure expense

0.7

0.3

0.4

0.2

Other operating expenses

46.6

44.5

44.8

43.0

42.3

Total noninterest expense

$147.7

$140.7

$139.9

$142.0

$138.6

Adjusted salaries and employee benefits 1

$ 74.3

$ 75.6

$ 72.9

$ 75.9

$ 72.3

Adjusted other operating expenses 1

44.2

43.1

44.0

41.5

42.5

Adjusted noninterest expense 1

140.3

140.6

138.6

139.7

136.8

Efficiency ratio

58.72 %

57.56 %

55.52 %

(25.11) %

62.82 %

Adjusted efficiency ratio 1

54.26

56.16

53.64

57.72

60.52

Full-time equivalent employees

2,909

2,913

2,917

2,883

2,947

Number of financial centers

220

221

222

223

Loans and Unfunded Loan Commitments

Total loans at the end of the second quarter of 2026 were $18.1 billion, up $129.5 million, or 3 percent annualized, compared to $17.9 billion at the end of the first quarter of 2026, and up $951.3 million, or 6 percent, compared to $17.1 billion at the end of the second quarter of 2025. The increase in total loans on a linked quarter basis was driven by increases in agricultural, commercial real estate and consumer and other portfolios, offset in part by a decrease in real estate construction. Unfunded loan commitments at the end of the second quarter of 2026 were $4.4 billion, compared to $4.1 billion at the end of the first quarter of 2026 and $3.9 billion at the end of the second quarter of 2025. The commercial loan pipeline totaled $1.4 billion at the end of the second quarter of 2026, and ready-to-close commercial loans totaled $374 million with a weighted average rate of 6.73 percent.

Loans and Unfunded Loan Commitments

$ in millions

2Q26

1Q26

4Q25

3Q25

2Q25

Total loans

$18,062

$17,933

$17,492

$17,189

$17,111

Unfunded loan commitments

4,384

4,068

3,871

3,955

3,947

Deposits and Other Borrowings

Total deposits at the end of the second quarter of 2026 were $19.7 billion, compared to $20.2 billion at the end of the first quarter of 2026 and $21.8 billion at the end of the second quarter of 2025. Noninterest bearing deposits totaled $4.4 billion at the end of the second quarter of 2026, up $60.8 million, or 6 percent annualized, compared to $4.3 billion at the end of the first quarter of 2026. Interest bearing deposits at the end of the second quarter of 2026 totaled $15.4 billion, compared to $15.9 billion at the end of the first quarter of 2026 and $17.4 billion at the end of the second quarter of 2025. The decrease in interest bearing deposits on a linked quarter basis was driven by lower levels of interest bearing transaction accounts and savings accounts, and time deposits, coupled with a reduction in the utilization of brokered deposits given pricing relative to FHLB advances. The decrease in total deposits on a year-over-year basis primarily reflects a reduction of higher rate, non-relationship wholesale and public fund deposits as part of the balance sheet repositioning completed during the third quarter of 2025.

Other borrowings at the end of the second quarter of 2026 were $941.3 million, compared to $446.8 million at the end of the first quarter of 2026 and $634.3 million at the end of the second quarter of 2025. The increase in other borrowings on a linked quarter basis reflected increased utilization of short-term FHLB advances given favorable pricing.

Deposits

$ in millions

2Q26

1Q26

4Q25

3Q25

2Q25

Noninterest bearing deposits

$ 4,350

$ 4,290

$ 4,330

$ 4,377

$ 4,468

Interest bearing transaction accounts

10,332

10,667

10,453

10,289

10,532

Time deposits

3,233

3,334

3,508

3,331

3,588

Brokered deposits

1,813

1,912

1,893

1,841

3,237

Total deposits

$19,728

$20,203

$20,184

$19,838

$21,825

Noninterest bearing deposits to total deposits

22 %

21 %

22 %

20 %

Total loans to total deposits

Asset Quality

Provision for credit losses on loans totaled $17.4 million for the second quarter of 2026, compared to $14.6 million in the first quarter of 2026 and $11.9 million in the second quarter of 2025. Net charge-offs as a percentage of average loans for the second quarter of 2026 were 20 basis points, compared to 21 basis points in the first quarter of 2026 and 25 basis points in the second quarter of 2025. Provision for credit losses on loans exceeded net charge-offs by $8.3 million during the second quarter of 2026. The allowance for credit losses on loans at the end of the second quarter of 2026 was $238.2 million, compared to $229.9 million at the end of the first quarter of 2026 and $253.5 million at the end of the second quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the second quarter of 2026 was 1.32 percent, compared to 1.28 percent at the end of the first quarter of 2026 and 1.48 percent at the end of the second quarter of 2025.

Loans past due 30-89 days as a percentage of total loans were 29 basis points at the end of the second quarter of 2026, compared to 51 basis points at the end of the first quarter of 2026 and 17 basis points at the end of the second quarter of 2025. Total nonperforming loans at the end of the second quarter of 2026 totaled $166.0 million, compared to $141.9 million at the end of the first quarter of 2026 and $157.2 million at the end of the second quarter of 2025. The increase in nonperforming loans on a linked quarter basis primarily reflected further migration of the remaining portion of a single 1-4 family real estate construction relationship previously disclosed in the first quarter of 2026. The nonperforming loan coverage ratio ended the second quarter of 2026 at 143 percent, compared to 162 percent at the end of the first quarter of 2026 and 161 percent at the end of the second quarter of 2025. Total nonperforming assets as a percentage of total assets were 72 basis points at the end of the second quarter of 2026, compared to 63 basis points at the end of the first quarter of 2026 and 62 basis points at the end of the second quarter of 2025.

Asset Quality

$ in millions

2Q26

1Q26

4Q25

3Q25

2Q25

Allowance for credit losses on loans to total loans

1.32 %

1.28 %

1.50 %

1.48 %

Allowance for credit losses on loans to nonperforming loans

143

162

199

168

161

Nonperforming loans to total loans

0.92

0.79

0.64

0.90

0.92

Net charge-off ratio (annualized)

0.20

0.21

1.12

0.25

Net charge-off ratio YTD (annualized)

0.21

0.47

0.24

Loans past due 30-89 days to total loans

0.29

0.51

0.27

0.11

0.17

Total nonperforming loans

$166.1

$141.9

$112.7

$153.9

$157.2

Total other nonperforming assets

11.1

12.6

12.4

6.8

9.5

Total nonperforming assets

$177.2

$154.5

$125.1

$160.7

$166.7

Reserve for unfunded commitments

$25.6

Capital

Total stockholders' equity at the end of the second quarter of 2026 was $3.5 billion, compared to $3.4 billion at the end of the first quarter of 2026 and $3.5 billion at the end of the second quarter of 2025. Book value per share at the end of the second quarter of 2026 was $24.11, compared to $23.70 at the end of the first quarter of 2026 and $28.17 at the end of the second quarter of 2025. Tangible book value per share 1 at the end of the second quarter of 2026 was $14.42, compared to $14.03 at the end of the first quarter of 2026 and $16.97 at the end of the second quarter of 2025. The increase in book value per share and tangible book value per share on a linked quarter basis was primarily due to a $35.6 million increase in undivided profits. The year-over-year decline in book value per share and tangible book value per share was primarily due to the balance sheet repositioning completed in the third quarter of 2025.

Total stockholders' equity as a percentage of total assets at the end of the second quarter of 2026 was 14.1 percent, compared to 13.9 percent at the end of first quarter of 2026 and 13.3 percent at the end of the second quarter of 2025. Tangible common equity as a percentage of tangible assets 1 was 8.9 percent at the end of the second quarter of 2026, compared to 8.7 percent at the end of the first quarter of 2026 and 8.5 percent at the end of the second quarter of 2025. Both Simmons and its principal subsidiary, Simmons Bank, continue to maintain regulatory capital ratios significantly above "well-capitalized" regulatory guidelines.

Select Capital Ratios

2Q26

1Q26

4Q25

3Q25

2Q25

Stockholders' equity to total assets

14.1 %

13.9 %

13.3 %

Tangible common equity to tangible assets 1

8.9

8.7

8.5

Common equity tier 1 (CET1) ratio

11.6

11.5

12.4

Tier 1 leverage ratio

10.2

10.1

9.6

10.0

Tier 1 risk-based capital ratio

11.6

11.5

12.4

Total risk-based capital ratio

14.4

15.1

14.4

Share Repurchase Program

During the second quarter of 2026, Simmons repurchased approximately 0.7 million shares of its Class A common stock at an average price of $21.52 under its 2026 stock repurchase program (2026 Program). Remaining authorization under the 2026 Program as of June 30, 2026, was approximately $161 million. The timing, pricing and amount of any repurchases under the 2026 Program will be determined by Simmons' management at its discretion based on a variety of factors, including, but not limited to, market conditions, trading volume and market price of Simmons' common stock, Simmons' capital needs, Simmons' working capital and investment requirements, other corporate considerations, economic conditions, and legal requirements. The 2026 Program does not obligate Simmons to repurchase any common stock and may be modified, discontinued or suspended at any time without prior notice.

(1) Non-GAAP measurement. See "Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP Financial Measures" below

(2) FTE – fully taxable equivalent basis using an effective tax rate of 26.135%

(3) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income"

Conference Call

Management will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Friday, July 17, 2026. Interested parties can listen to this call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporation conference call, conference ID 10210202. In addition, the call will be available live or in recorded version on Simmons' website at simmonsbank.com for at least 60 days following the date of the call.

Simmons First National Corporation

Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 117 consecutive years. Its principal subsidiary, Simmons Bank, operates 220 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Recently, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks and Credit Unions 2026 and by Forbes as one of America's Best-In-State Companies 2026. In 2025, Simmons Bank was recognized by Newsweek as one of America's Greatest Workplaces 2025 in Arkansas and one of America's Best Regional Banks 2025, and by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X or by visiting our newsroom.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures adjust GAAP performance measures to, among other things, include the tax benefit associated with revenue items that are tax-exempt, as well as exclude from net income (including on a per share diluted basis), pre-tax, pre-provision earnings, net charge-offs, income available to common shareholders, noninterest income, and noninterest expense certain income and expense items attributable to, for example, branch/real estate rightsizing costs, severance/early retirement program costs, FDIC deposit insurance special assessment and certain professional services.

In addition, the Company also presents certain figures based on tangible common stockholders' equity, tangible assets and tangible book value, which exclude goodwill and other intangible assets. The Company further presents certain figures that are exclusive of the impact of deposits and/or loans acquired through acquisitions, mortgage warehouse loans, and/or energy loans, or gains and/or losses on the sale of securities. The Company's management believes that these non-GAAP financial measures are useful to investors because they, among other things, present the results of the Company's ongoing operations without the effect of mergers or other items not central to the Company's ongoing business, as well as normalize for tax effects and certain other effects. Management, therefore, believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's ongoing businesses, and management uses these non-GAAP financial measures to assess the performance of the Company's ongoing businesses as related to prior financial periods. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.

Forward-Looking Statements

Certain statements in this press release may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, without limitation, statements made in Mr. Brogdon's quote, may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to Simmons' future growth, business strategies, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, dividends, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, future economic conditions and interest rates, and the adequacy of reserve levels for loans. Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, changes in credit quality, changes in interest rates and related governmental policies, the effects of a government shutdown, changes in loan demand, changes in deposit flows, changes in real estate values, changes in the assumptions used in making the forward-looking statements, changes in the securities markets generally or the price of Simmons' common stock specifically, changes in information technology affecting the financial industry, and changes in customer behaviors, including consumer spending, borrowing, and saving habits; changes in tariff policies; general economic and market conditions; changes in governmental administrations; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts in the Middle East and between Russia and Ukraine) or other major events, or the prospect of these events; the soundness of other financial institutions and any indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships; increased inflation; the loss of key employees; increased competition in the markets in which the Company operates and from non-bank financial institutions; increased unemployment; labor shortages; claims, damages, and fines related to litigation or government actions; changes in accounting principles relating to loan loss recognition (current expected credit losses); fraud that results in material losses or that the Company has not discovered yet that may result in material losses; the Company's ability to manage and successfully integrate its mergers and acquisitions and to fully realize cost savings and other benefits associated with acquisitions; increased delinquency and foreclosure rates on commercial real estate loans; significant increases in nonaccrual loan balances; cyber or other information technology threats, attacks or events; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats; reliance on third parties for key services; government legislation; and other factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those projected in or contemplated by the forward-looking statements. In addition, there can be no guarantee that the board of directors (Board) of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) is subject to, among other things, the discretion of the Board and may differ significantly from past dividends. Additional information on factors that might affect the Company's financial results is included in the Company's Form 10-K for the year ended December 31, 2025, the Company's Form 10-Q for the quarter ended March 31, 2026, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.

Simmons First National Corporation

SFNC

Consolidated End of Period Balance Sheets

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

ASSETS

Cash and noninterest bearing balances due from banks

$ 377,602

$ 342,603

$ 380,439

$ 377,604

$ 398,081

Interest bearing balances due from banks and federal funds sold

211,882

205,880

331,474

266,013

246,381

Cash and cash equivalents

589,484

548,483

711,913

643,617

644,462

Interest bearing balances due from banks - time

100

Investment securities - held-to-maturity

3,591,531

Investment securities - available-for-sale

3,077,181

3,152,286

3,266,221

3,319,277

2,405,320

Mortgage loans held for sale

16,450

14,311

17,438

15,507

16,972

Assets held in trading accounts

14,541

14,543

11,685

12,695

Loans:

Loans

18,062,369

17,932,883

17,492,179

17,188,817

17,111,096

Allowance for credit losses on loans

(238,227)

(229,908)

(224,377)

(258,006)

(253,537)

Net loans

17,824,142

17,702,975

17,267,802

16,930,811

16,857,559

Premises and equipment

552,435

557,873

561,220

568,343

573,160

Foreclosed assets and other real estate owned

11,080

12,475

12,009

6,386

8,794

Interest receivable

103,016

101,557

104,062

104,383

120,443

Bank owned life insurance

545,252

542,486

540,001

539,372

535,481

Goodwill

1,320,799

Other intangible assets

78,228

81,325

84,423

87,520

90,617

Other assets

644,108

643,570

643,204

659,352

528,382

Total assets

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

$ 26,693,620

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:

Noninterest bearing transaction accounts

$ 4,350,474

$ 4,289,697

$ 4,330,211

$ 4,377,232

$ 4,468,237

Interest bearing transaction accounts and savings deposits

11,133,265

11,311,979

11,141,169

10,932,914

11,176,791

Time deposits

4,244,371

4,601,107

4,712,658

4,527,587

6,179,962

Total deposits

19,728,110

20,202,783

20,184,038

19,837,733

21,824,990

Federal funds purchased and securities sold

under agreements to repurchase

46,216

8,708

21,383

22,348

31,306

Other borrowings

941,256

446,756

302,253

18,832

634,349

Subordinated notes and debentures

312,028

315,700

317,714

648,976

366,369

Accrued interest and other liabilities

267,347

281,102

296,249

326,310

287,396

Total liabilities

21,294,957

21,255,049

21,121,637

20,854,199

23,144,410

Stockholders' equity:

Common stock

1,444

1,451

1,448

1,447

1,260

Surplus

2,837,845

2,848,952

2,846,581

2,848,977

2,518,286

Undivided profits

937,307

901,696

864,341

817,022

1,410,564

Accumulated other comprehensive (loss) income

(294,737)

(314,365)

(293,130)

(313,483)

(380,900)

Total stockholders' equity

3,481,859

3,437,734

3,419,240

3,353,963

3,549,210

Total liabilities and stockholders' equity

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

$ 26,693,620

Simmons First National Corporation

SFNC

Consolidated Statements of Income - Quarter-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands, except per share data)

INTEREST INCOME

Loans (including fees)

$ 274,271

$ 267,287

$ 270,868

$ 269,210

$ 265,373

Interest bearing balances due from banks and federal funds sold

2,058

2,320

2,485

6,421

2,531

Investment securities

31,013

31,882

33,833

37,464

46,898

Mortgage loans held for sale

202

203

227

229

221

Assets held in trading accounts

136

122

118

TOTAL INTEREST INCOME

307,680

301,814

307,531

313,423

315,023

INTEREST EXPENSE

Time deposits

36,996

39,949

41,989

49,064

57,231

Other deposits

58,536

57,653

60,516

67,546

69,108

Federal funds purchased and securities

sold under agreements to repurchase

426

Other borrowings

5,873

1,746

2,138

2,957

10,613

Subordinated notes and debentures

5,222

5,262

5,535

7,123

6,188

TOTAL INTEREST EXPENSE

107,053

104,646

110,235

126,762

143,199

NET INTEREST INCOME

200,627

197,168

197,296

186,661

171,824

PROVISION FOR CREDIT LOSSES

Provision for credit losses on loans

17,434

14,622

15,116

15,180

11,945

Provision for credit losses on investment securities - HTM

(3,214)

TOTAL PROVISION FOR CREDIT LOSSES

17,434

14,622

15,116

11,966

11,945

NET INTEREST INCOME AFTER PROVISION

FOR CREDIT LOSSES

183,193

182,546

182,180

174,695

159,879

NONINTEREST INCOME

Service charges on deposit accounts

12,329

12,656

12,669

13,045

12,588

Debit and credit card fees

9,008

8,503

8,660

8,478

8,567

Wealth management fees

10,240

10,533

10,337

9,965

9,464

Mortgage lending income

1,994

1,854

2,232

2,259

1,687

Bank owned life insurance income

4,218

3,942

3,943

3,890

Other service charges and fees (includes insurance income)

1,551

1,606

1,503

1,474

1,321

Gain (loss) on sale of securities

(801,492)

Other income

8,599

4,827

12,365

6,141

4,837

TOTAL NONINTEREST INCOME

47,939

44,197

51,708

(756,187)

42,354

NONINTEREST EXPENSE

Salaries and employee benefits

75,590

75,885

72,924

76,249

73,862

Occupancy expense, net

14,715

12,218

11,636

12,106

11,844

Furniture and equipment expense

5,739

5,423

5,304

5,275

5,474

Other real estate and foreclosure expense

695

315

432

200

216

Deposit insurance

4,450

2,295

4,736

5,175

4,917

Other operating expenses

46,550

44,537

44,830

43,027

42,276

TOTAL NONINTEREST EXPENSE

147,739

140,673

139,862

142,032

138,589

NET INCOME (LOSS) BEFORE INCOME TAXES

83,393

86,070

94,026

(723,524)

63,644

Provision for income taxes

16,702

17,526

15,948

(160,732)

8,871

NET INCOME (LOSS)

$ 66,691

$ 68,544

$ 78,078

$ (562,792)

$ 54,773

BASIC EARNINGS PER SHARE

$ 0.46

$ 0.47

$ 0.54

$ (4.01)

$ 0.43

DILUTED EARNINGS PER SHARE

$ 0.46

$ 0.47

$ 0.54

$ (4.00)

$ 0.43

Simmons First National Corporation

SFNC

Consolidated Risk-Based Capital

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Tier 1 capital

Stockholders' equity

$ 3,481,859

$ 3,437,734

$ 3,419,240

$ 3,353,963

$ 3,549,210

Disallowed intangible assets, net of deferred tax

(1,367,717)

(1,370,562)

(1,374,839)

(1,376,255)

(1,379,104)

Unrealized loss (gain) on AFS securities

294,737

314,365

293,130

313,483

380,900

Total Tier 1 capital

2,408,879

2,381,537

2,337,531

2,291,191

2,551,006

Tier 2 capital

Subordinated notes and debentures

312,028

315,700

317,714

648,976

366,369

Subordinated debt phase out

(198,000)

Qualifying allowance for loan losses and

reserve for unfunded commitments

259,693

255,537

250,006

248,710

258,079

Total Tier 2 capital

571,721

571,237

567,720

699,686

426,448

Total risk-based capital

$ 2,980,600

$ 2,952,774

$ 2,905,251

$ 2,990,877

$ 2,977,454

Risk weighted assets

$ 20,771,268

$ 20,565,445

$ 20,106,493

$ 19,861,879

$ 20,646,324

Adjusted average assets for leverage ratio

$ 23,617,439

$ 23,487,513

$ 23,224,638

$ 23,963,356

$ 25,606,135

Ratios at end of quarter

Equity to assets

14.05 %

13.92 %

13.93 %

13.85 %

13.30 %

Tangible common equity to tangible assets (1)

8.91 %

8.74 %

8.71 %

8.53 %

8.46 %

Common equity Tier 1 ratio (CET1)

11.60 %

11.58 %

11.63 %

11.54 %

12.36 %

Tier 1 leverage ratio

10.20 %

10.14 %

10.06 %

9.56 %

9.96 %

Tier 1 risk-based capital ratio

11.60 %

11.58 %

11.63 %

11.54 %

12.36 %

Total risk-based capital ratio

14.35 %

14.36 %

14.45 %

15.07 %

14.42 %

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

Simmons First National Corporation

SFNC

Consolidated Investment Securities

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Investment Securities - End of Period

Held-to-Maturity

U.S. Government agencies

$ -

$ 457,228

Mortgage-backed securities

1,024,313

State and political subdivisions

1,855,614

Other securities

254,376

Total held-to-maturity (net of credit losses)

3,591,531

Available-for-Sale

U.S. Treasury

$ -

$ 400

U.S. Government agencies

44,425

46,329

47,172

48,355

49,498

Mortgage-backed securities

2,061,760

2,128,732

2,201,958

2,249,593

1,349,991

State and political subdivisions

865,467

838,880

859,071

845,371

807,842

Other securities

105,529

138,345

158,020

175,958

197,589

Total available-for-sale (net of credit losses)

3,077,181

3,152,286

3,266,221

3,319,277

2,405,320

Total investment securities (net of credit losses)

$ 3,077,181

$ 3,152,286

$ 3,266,221

$ 3,319,277

$ 5,996,851

Fair value - HTM investment securities

$ -

$ 2,891,974

Simmons First National Corporation

SFNC

Consolidated Loans

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Loan Portfolio - End of Period

Consumer:

Credit cards

$ 174,148

$ 172,610

$ 175,760

$ 173,020

$ 176,166

Other consumer

99,117

96,387

115,472

112,335

123,831

Total consumer

273,265

268,997

291,232

285,355

299,997

Real Estate:

Construction

2,577,630

2,621,859

2,873,807

2,874,823

2,784,578

Single-family residential

2,564,282

2,566,162

2,607,450

2,617,849

2,625,717

Other commercial real estate

8,828,771

8,764,648

8,289,968

7,875,649

7,961,412

Total real estate

13,970,683

13,952,669

13,771,225

13,368,321

13,371,707

Commercial:

Commercial

2,516,607

2,521,440

2,382,339

2,397,388

2,440,507

Agricultural

426,522

333,508

306,300

353,181

333,078

Total commercial

2,943,129

2,854,948

2,688,639

2,750,569

2,773,585

Other

875,292

856,269

741,083

784,572

665,807

Total loans

$ 18,062,369

$ 17,932,883

$ 17,492,179

$ 17,188,817

$ 17,111,096

Simmons First National Corporation

SFNC

Consolidated Allowance and Asset Quality

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Allowance for Credit Losses on Loans

Beginning balance

$ 229,908

$ 224,377

$ 258,006

$ 253,537

$ 252,168

Loans charged off:

Credit cards

1,368

1,677

1,346

1,862

1,702

Other consumer

350

590

550

600

351

Real estate

5,465

6,629

25,850

1,350

1,450

Commercial

3,520

1,666

22,004

8,079

8,257

Total loans charged off

10,703

10,562

49,750

11,891

11,760

Recoveries of loans previously charged off:

Credit cards

244

468

347

257

334

Other consumer

381

301

163

303

294

Real estate

151

449

105

115

Commercial

812

253

390

505

469

Total recoveries

1,588

1,471

1,005

1,180

1,184

Net loans charged off

9,115

9,091

48,745

10,711

10,576

Provision for credit losses on loans

17,434

14,622

15,116

15,180

11,945

Balance, end of quarter

$ 238,227

$ 229,908

$ 224,377

$ 258,006

$ 253,537

Nonperforming assets

Nonperforming loans:

Nonaccrual loans

$ 165,295

$ 141,233

$ 111,791

$ 153,516

$ 156,453

Loans past due 90 days or more

753

647

948

423

709

Total nonperforming loans

166,048

141,880

112,739

153,939

157,162

Other nonperforming assets:

Foreclosed assets and other real estate owned

11,080

12,475

12,009

6,386

8,794

Other nonperforming assets

181

323

392

759

Total other nonperforming assets

11,140

12,656

12,332

6,778

9,553

Total nonperforming assets

$ 177,188

$ 154,536

$ 125,071

$ 160,717

$ 166,715

Loans past due 30-89 days (excluding nonaccrual)

$ 52,308

$ 91,245

$ 47,016

$ 19,207

$ 28,313

Ratios

Allowance for credit losses on loans to total loans

1.32 %

1.28 %

1.50 %

1.48 %

Allowance for credit losses to nonperforming loans

143 %

162 %

199 %

168 %

161 %

Nonperforming loans to total loans

0.92 %

0.79 %

0.64 %

0.90 %

0.92 %

Nonperforming assets to total assets

0.72 %

0.63 %

0.51 %

0.66 %

0.62 %

Annualized net charge offs to average loans (QTD)

0.20 %

0.21 %

1.12 %

0.25 %

Annualized net charge offs to average loans (YTD)

0.21 %

0.47 %

0.24 %

Annualized net credit card charge offs to

average credit card loans (QTD)

2.57 %

2.81 %

2.23 %

3.64 %

2.99 %

Loans past due 30-89 days to total loans

0.29 %

0.51 %

0.27 %

0.11 %

0.17 %

Simmons First National Corporation

SFNC

Consolidated - Average Balance Sheet and Net Interest Income Analysis

For the Quarters Ended

(Unaudited)

Three Months Ended

Jun 2026

Three Months Ended

Mar 2026

Three Months Ended

Jun 2025

($ in thousands)

Average

Balance

Income/

Expense

Yield/

Rate

Average

Balance

Income/

Expense

Yield/

Rate

Average

Balance

Income/

Expense

Yield/

Rate

ASSETS

Earning assets:

Interest bearing balances due from banks

and federal funds sold

$ 199,704

$ 2,058

4.13 %

$ 251,620

$ 2,320

3.74 %

$ 219,928

$ 2,531

4.62 %

Investment securities - taxable

2,301,053

25,472

4.44 %

2,408,546

26,311

4.43 %

3,483,805

31,233

3.60 %

Investment securities - non-taxable (FTE)

802,448

7,502

3.75 %

820,278

7,542

3.73 %

2,564,037

21,210

3.32 %

Mortgage loans held for sale

13,556

202

5.98 %

13,800

203

5.97 %

13,063

221

6.79 %

Assets held in trading accounts

14,731

136

3.70 %

13,748

122

3.60 %

0.00 %

Loans - including fees (FTE)

17,956,572

275,339

6.15 %

17,658,807

268,328

6.16 %

17,046,802

266,250

6.26 %

Total interest earning assets (FTE)

21,288,064

310,709

5.85 %

21,166,799

304,826

5.84 %

23,327,635

321,445

5.53 %

Non-earning assets

3,349,957

3,366,206

3,317,496

Total assets

$ 24,638,021

$ 24,533,005

$ 26,645,131

LIABILITIES AND STOCKHOLDERS' EQUITY

Interest bearing liabilities:

Interest bearing transaction and

savings accounts

$ 11,192,627

$ 58,536

2.10 %

$ 11,328,148

$ 57,653

2.06 %

$ 11,220,060

$ 69,108

2.47 %

Time deposits

4,406,355

36,996

3.37 %

4,678,058

39,949

3.46 %

5,820,499

57,231

3.94 %

Total interest bearing deposits

15,598,982

95,532

2.46 %

16,006,206

97,602

2.47 %

17,040,559

126,339

2.97 %

Federal funds purchased and securities

sold under agreement to repurchase

57,758

426

2.96 %

17,743

0.82 %

32,565

0.73 %

Other borrowings

635,693

5,873

3.71 %

192,345

1,746

3.68 %

960,817

10,613

4.43 %

Subordinated notes and debentures

314,108

5,222

6.67 %

318,635

5,262

6.70 %

366,350

6,188

6.77 %

Total interest bearing liabilities

16,606,541

107,053

2.59 %

16,534,929

104,646

2.57 %

18,400,291

143,199

3.12 %

Noninterest bearing liabilities:

Noninterest bearing deposits

4,272,088

4,229,952

4,390,454

Other liabilities

280,861

297,864

308,223

Total liabilities

21,159,490

21,062,745

23,098,968

Stockholders' equity

3,478,531

3,470,260

3,546,163

Total liabilities and stockholders' equity

$ 24,638,021

$ 24,533,005

$ 26,645,131

Net interest income (FTE)

$ 203,656

$ 200,180

$ 178,246

Net interest spread (FTE)

3.26 %

3.27 %

2.41 %

Net interest margin (FTE)

3.84 %

3.06 %

Simmons First National Corporation

SFNC

Consolidated - Selected Financial Data

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands, except share data)

QUARTER-TO-DATE

Financial Highlights - As Reported

Net Income (loss)

$ 66,691

$ 68,544

$ 78,078

$ (562,792)

$ 54,773

Diluted earnings per share

0.46

0.47

0.54

(4.00)

0.43

Return on average assets

1.09 %

1.13 %

1.28 %

-8.96 %

0.82 %

Return on average tangible assets (non-GAAP) (1)

1.19 %

1.24 %

1.40 %

-9.46 %

0.91 %

Return on average common equity

7.69 %

8.01 %

9.08 %

-66.29 %

6.20 %

Return on tangible common equity (non-GAAP) (1)

13.32 %

13.90 %

15.92 %

-113.56 %

10.73 %

Net interest margin (FTE)

3.84 %

3.81 %

3.50 %

3.06 %

Efficiency ratio (2)

58.72 %

57.56 %

55.52 %

-25.11 %

62.82 %

FTE adjustment

3,029

3,012

2,890

3,811

6,422

Average diluted shares outstanding

145,323,958

145,340,410

145,210,222

140,648,704

126,406,453

Shares repurchased under plan

662,082

Average price of shares repurchased

21.52

Cash dividends declared per common share

0.215

0.213

Accretable yield on acquired loans

778

902

749

725

1,263

Financial Highlights - Adjusted (non-GAAP) (1)

Adjusted earnings

$ 72,171

$ 68,566

$ 78,975

$ 64,930

$ 56,071

Adjusted diluted earnings per share

0.50

0.47

0.54

0.46

0.44

Adjusted return on average assets

1.17 %

1.13 %

1.29 %

1.03 %

0.84 %

Adjusted return on average tangible assets (non-GAAP) (1)

1.29 %

1.24 %

1.41 %

1.13 %

0.93 %

Adjusted return on average common equity

8.32 %

8.01 %

9.19 %

7.65 %

6.34 %

Adjusted return on tangible common equity

14.37 %

13.91 %

16.10 %

13.62 %

10.97 %

Adjusted efficiency ratio (2)

54.26 %

56.16 %

53.64 %

57.72 %

60.52 %

YEAR-TO-DATE

Financial Highlights - GAAP

Net Income (loss)

$ 135,235

$ 68,544

$ (397,553)

$ (475,631)

$ 87,161

Diluted earnings per share

0.93

0.47

(2.95)

(3.63)

0.69

Return on average assets

1.11 %

1.13 %

-1.55 %

-2.44 %

0.66 %

Return on average tangible assets (non-GAAP) (1)

1.22 %

1.24 %

-1.60 %

-2.54 %

0.74 %

Return on average common equity

7.85 %

8.01 %

-11.45 %

-18.21 %

4.94 %

Return on tangible common equity (non-GAAP) (1)

13.61 %

13.90 %

-18.84 %

-30.13 %

8.67 %

Net interest margin (FTE)

3.84 %

3.32 %

3.17 %

3.01 %

Efficiency ratio (2)

58.15 %

57.56 %

460.26 %

-329.30 %

64.86 %

FTE adjustment

6,041

3,012

19,537

16,647

12,836

Average diluted shares outstanding

145,335,181

145,340,410

134,731,180

131,132,891

126,325,650

Cash dividends declared per common share

0.430

0.215

0.850

0.638

0.425

Financial Highlights - Adjusted (non-GAAP) (1)

Adjusted earnings

$ 140,737

$ 68,566

$ 233,098

$ 154,123

$ 89,193

Adjusted diluted earnings per share

0.97

0.47

1.73

1.18

0.71

Adjusted return on average assets

1.15 %

1.13 %

0.91 %

0.79 %

0.67 %

Adjusted return on average tangible assets (non-GAAP) (1)

1.26 %

1.24 %

1.00 %

0.87 %

0.75 %

Adjusted return on average common equity

8.17 %

8.01 %

6.71 %

5.90 %

5.06 %

Adjusted return on tangible common equity

14.14 %

13.91 %

11.78 %

10.37 %

8.86 %

Adjusted efficiency ratio (2)

55.20 %

56.16 %

58.92 %

60.90 %

62.62 %

END OF PERIOD

Book value per share

$ 24.11

$ 23.70

$ 23.62

$ 23.18

$ 28.17

Tangible book value per share

14.42

14.03

13.91

13.45

16.97

Shares outstanding

144,442,482

145,058,331

144,762,817

144,703,075

125,996,248

Full-time equivalent employees

2,909

2,913

2,917

2,883

2,947

Total number of financial centers

220

221

222

223

(1) Non-GAAP measurement that management believes aids in the understanding and discussion of results. Reconciliations to GAAP are included in the schedules accompanying this release.

(2) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent) and noninterest revenues. Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest income (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Quarter-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

(in thousands, except per share data)

QUARTER-TO-DATE

Net income (loss)

$ 66,691

$ 68,544

$ 78,078

$ (562,792)

$ 54,773

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,320

283

305

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,099

531

2,004

163

Tax effect of certain items (1)

(1,939)

(8)

(318)

(176,649)

(459)

Certain items, net of tax

5,480

897

627,722

1,298

Adjusted earnings (non-GAAP) (2)

$ 72,171

$ 68,566

$ 78,975

$ 64,930

$ 56,071

Diluted earnings per share

$ 0.46

$ 0.47

$ 0.54

$ (4.00)

$ 0.43

Certain items (non-GAAP)

Loss on early extinguishment of debt

FDIC Deposit Insurance special assessment

(0.01)

Certain professional services

0.01

Severance/early retirement program costs

0.01

Termination of vendor and software services

Loss on sale of Equipment Finance business

0.01

Loss (gain) on sale of securities

5.70

Branch/real estate rightsizing costs, net

0.04

0.01

Tax effect of certain items (1)

(0.01)

(1.25)

Certain items, net of tax

0.04

4.46

0.01

Adjusted diluted earnings per share (non-GAAP)

$ 0.50

$ 0.47

$ 0.54

$ 0.46

$ 0.44

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items

(2) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income."

Reconciliation of Certain Noninterest Income and Expense Items (non-GAAP)

QUARTER-TO-DATE

Noninterest income

$ 47,939

$ 44,197

$ 51,708

$ (756,187)

$ 42,354

Certain noninterest income items

Loss on early extinguishment of debt

570

Loss (gain) on sale of securities

801,492

Adjusted noninterest income (non-GAAP)

$ 47,939

$ 44,197

$ 51,708

$ 45,875

$ 42,354

Other income

$ 8,599

$ 4,827

$ 12,365

$ 6,141

$ 4,837

Certain other income items

Loss on early extinguishment of debt

570

Adjusted other income (non-GAAP)

$ 8,599

$ 4,827

$ 12,365

$ 6,711

$ 4,837

Noninterest expense

$ 147,739

$ 140,673

$ 139,862

$ 142,032

$ 138,589

Certain noninterest expense items

Severance/early retirement program costs

(1,320)

(283)

(305)

(1,594)

FDIC Deposit Insurance special assessment

1,984

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(6,099)

(531)

(85)

(2,004)

(163)

Adjusted noninterest expense (non-GAAP)

140,320

140,643

138,647

139,723

136,832

Less: Fraud event

Adjusted noninterest expense, excluding fraud event (non-GAAP)

$ 140,320

$ 140,643

$ 138,647

$ 139,723

$ 136,832

Salaries and employee benefits

$ 75,590

$ 75,885

$ 72,924

$ 76,249

$ 73,862

Certain salaries and employee benefits items

Severance/early retirement program costs

(1,320)

(283)

(305)

(1,594)

Other

(1)

Adjusted salaries and employee benefits (non-GAAP)

$ 74,274

$ 75,602

$ 72,924

$ 75,943

$ 72,269

Other operating expenses

$ 46,550

$ 44,537

$ 44,830

$ 43,027

$ 42,276

Certain other operating expenses items

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(2,399)

(205)

327

(1,556)

255

Adjusted other operating expenses (non-GAAP)

$ 44,151

$ 43,132

$ 44,027

$ 41,471

$ 42,531

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Adjusted Earnings - Year-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

(in thousands, except per share data)

YEAR-TO-DATE

Net income (loss)

$ 135,235

$ 68,544

$ (397,553)

$ (475,631)

$ 87,161

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,603

283

1,899

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,630

531

3,246

3,161

1,157

Tax effect of certain items (1)

(1,947)

(8)

(177,686)

(177,368)

(719)

Certain items, net of tax

5,502

630,651

629,754

2,032

Adjusted earnings (non-GAAP) (2)

$ 140,737

$ 68,566

$ 233,098

$ 154,123

$ 89,193

Diluted earnings per share

$ 0.93

$ 0.47

$ (2.95)

$ (3.63)

$ 0.69

Certain items (non-GAAP)

Loss on early extinguishment of debt

0.01

FDIC Deposit Insurance special assessment

(0.01)

Certain professional services

0.01

Severance/early retirement program costs

0.01

0.02

0.01

Termination of vendor and software services

Loss on sale of Equipment Finance business

0.01

Loss (gain) on sale of securities

5.95

6.11

Branch/real estate rightsizing costs, net

0.04

0.02

0.01

Tax effect of certain items (1)

(0.01)

(1.32)

(1.34)

Certain items, net of tax

0.04

4.68

4.81

0.02

Adjusted diluted earnings per share (non-GAAP)

$ 0.97

$ 0.47

$ 1.73

$ 1.18

$ 0.71

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items

(2) In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income."

Reconciliation of Certain Noninterest Income and Expense Items (non-GAAP)

YEAR-TO-DATE

Noninterest income

$ 92,136

$ 44,197

$ (615,970)

$ (667,678)

$ 88,509

Certain noninterest income items

Loss on early extinguishment of debt

570

Loss (gain) on sale of securities

801,492

Adjusted noninterest income (non-GAAP)

$ 92,136

$ 44,197

$ 186,092

$ 134,384

$ 88,509

Other income

$ 13,426

$ 4,827

$ 31,350

$ 18,985

$ 12,844

Certain other income items

Loss on early extinguishment of debt

570

Adjusted other income (non-GAAP)

$ 13,426

$ 4,827

$ 31,920

$ 19,555

$ 12,844

Noninterest expense

$ 288,412

$ 140,673

$ 565,063

$ 425,201

$ 283,169

Certain noninterest expense items

Severance/early retirement program costs

(1,603)

(283)

(1,899)

(1,594)

FDIC Deposit Insurance special assessment

1,984

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(6,630)

(531)

(3,246)

(3,161)

(1,157)

Adjusted noninterest expense (non-GAAP)

280,963

140,643

558,788

420,141

280,418

Less: Fraud event

(4,300)

Adjusted noninterest expense, excluding fraud event (non-GAAP)

$ 280,963

$ 140,643

$ 554,488

$ 415,841

$ 276,118

Salaries and employee benefits

$ 151,475

$ 75,885

$ 297,859

$ 224,935

$ 148,686

Certain salaries and employee benefits items

Severance/early retirement program costs

(1,603)

(283)

(1,899)

(1,594)

Other

Adjusted salaries and employee benefits (non-GAAP)

$ 149,876

$ 75,602

$ 295,960

$ 223,036

$ 147,093

Other operating expenses

$ 91,087

$ 44,537

$ 176,184

$ 131,354

$ 88,327

Certain other operating expenses items

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(2,604)

(205)

(1,135)

(1,462)

Adjusted other operating expenses (non-GAAP)

$ 87,283

$ 43,132

$ 173,919

$ 129,892

$ 88,421

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - End of Period

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands, except per share data)

Calculation of Tangible Common Equity and the Ratio of Tangible Common Equity to Tangible Assets

Total common stockholders' equity

$ 3,481,859

$ 3,437,734

$ 3,419,240

$ 3,353,963

$ 3,549,210

Intangible assets:

Goodwill

(1,320,799)

Other intangible assets

(78,228)

(81,325)

(84,423)

(87,520)

(90,617)

Total intangibles

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

(1,411,416)

Tangible common stockholders' equity

$ 2,082,832

$ 2,035,610

$ 2,014,018

$ 1,945,644

$ 2,137,794

Total assets

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

$ 26,693,620

Intangible assets:

Goodwill

(1,320,799)

Other intangible assets

(78,228)

(81,325)

(84,423)

(87,520)

(90,617)

Total intangibles

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

(1,411,416)

Tangible assets

$ 23,377,789

$ 23,290,659

$ 23,135,655

$ 22,799,843

$ 25,282,204

Ratio of common equity to assets

14.05 %

13.92 %

13.93 %

13.85 %

13.30 %

Ratio of tangible common equity to tangible assets

8.91 %

8.74 %

8.71 %

8.53 %

8.46 %

Calculation of Tangible Book Value per Share

Total common stockholders' equity

$ 3,481,859

$ 3,437,734

$ 3,419,240

$ 3,353,963

$ 3,549,210

Intangible assets:

Goodwill

(1,320,799)

Other intangible assets

(78,228)

(81,325)

(84,423)

(87,520)

(90,617)

Total intangibles

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

(1,411,416)

Tangible common stockholders' equity

$ 2,082,832

$ 2,035,610

$ 2,014,018

$ 1,945,644

$ 2,137,794

Shares of common stock outstanding

144,442,482

145,058,331

144,762,817

144,703,075

125,996,248

Book value per common share

$ 24.11

$ 23.70

$ 23.62

$ 23.18

$ 28.17

Tangible book value per common share

$ 14.42

$ 14.03

$ 13.91

$ 13.45

$ 16.97

Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits

Uninsured deposits at Simmons Bank

$ 7,213,361

$ 7,385,688

$ 9,640,677

$ 9,565,766

$ 8,407,847

Less: Collateralized deposits (excluding portion that is FDIC insured)

2,385,340

2,509,728

2,363,327

2,169,362

2,691,215

Less: Intercompany eliminations

324,404

432,795

2,729,191

2,937,147

1,121,932

Total uninsured, non-collateralized deposits

$ 4,503,617

$ 4,443,165

$ 4,548,159

$ 4,459,257

$ 4,594,700

FHLB borrowing availability

$ 5,412,000

$ 5,831,000

$ 5,999,000

$ 6,134,000

$ 5,133,000

Unpledged securities

1,488,000

1,571,000

1,480,000

1,575,000

3,697,000

Fed funds lines, Fed discount window and

Bank Term Funding Program (1)

1,953,000

1,595,000

1,836,000

1,824,000

1,894,000

Additional liquidity sources

$ 8,853,000

$ 8,997,000

$ 9,315,000

$ 9,533,000

$ 10,724,000

Uninsured, non-collateralized deposit coverage ratio

2.0

2.1

2.3

(1) The Bank Term Funding Program closed for new loans on March 11, 2024. At no time did Simmons borrow funds under this program.

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Calculation of Adjusted Return on Average Assets & Average Tangible Assets

Net income (loss)

$ 66,691

$ 68,544

$ 78,078

$ (562,792)

$ 54,773

Amortization of intangibles, net of taxes

2,287

2,288

2,287

2,289

Total adjusted tangible net income (non-GAAP)

$ 68,978

$ 70,832

$ 80,366

$ (560,505)

$ 57,062

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,320

283

305

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,099

531

2,004

163

Tax effect of certain items (1)

(1,939)

(8)

(318)

(176,649)

(459)

Adjusted earnings (non-GAAP)

72,171

68,566

78,975

64,930

56,071

Amortization of intangibles, net of taxes

2,287

2,288

2,287

2,289

Total adjusted tangible net income (non-GAAP)

$ 74,458

$ 70,854

$ 81,263

$ 67,217

$ 58,360

Average total assets

$ 24,638,021

$ 24,533,005

$ 24,254,447

$ 24,914,922

$ 26,645,131

Average intangible assets:

Goodwill

(1,320,799)

Other intangibles

(80,123)

(83,248)

(86,206)

(89,349)

(92,432)

Total average intangibles

(1,400,922)

(1,404,047)

(1,407,005)

(1,410,148)

(1,413,231)

Average tangible assets (non-GAAP)

$ 23,237,099

$ 23,128,958

$ 22,847,442

$ 23,504,774

$ 25,231,900

Return on average assets

1.09 %

1.13 %

1.28 %

-8.96 %

0.82 %

Adjusted return on average assets (non-GAAP)

1.17 %

1.13 %

1.29 %

1.03 %

0.84 %

Return on average tangible assets (non-GAAP)

1.19 %

1.24 %

1.40 %

-9.46 %

0.91 %

Adjusted return on average tangible assets (non-GAAP)

1.29 %

1.24 %

1.41 %

1.13 %

0.93 %

Calculation of Return on Tangible Common Equity

Net income (loss) available to common stockholders

$ 66,691

$ 68,544

$ 78,078

$ (562,792)

$ 54,773

Amortization of intangibles, net of taxes

2,287

2,288

2,287

2,289

Total income available to common stockholders

$ 68,978

$ 70,832

$ 80,366

$ (560,505)

$ 57,062

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,320

283

305

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,099

531

2,004

163

Tax effect of certain items (1)

(1,939)

(8)

(318)

(176,649)

(459)

Adjusted earnings (non-GAAP)

72,171

68,566

78,975

64,930

56,071

Amortization of intangibles, net of taxes

2,287

2,288

2,287

2,289

Total adjusted earnings available to common stockholders (non-GAAP)

$ 74,458

$ 70,854

$ 81,263

$ 67,217

$ 58,360

Average common stockholders' equity

$ 3,478,531

$ 3,470,260

$ 3,410,017

$ 3,368,308

$ 3,546,163

Average intangible assets:

Goodwill

(1,320,799)

Other intangibles

(80,123)

(83,248)

(86,206)

(89,349)

(92,432)

Total average intangibles

(1,400,922)

(1,404,047)

(1,407,005)

(1,410,148)

(1,413,231)

Average tangible common stockholders' equity (non-GAAP)

$ 2,077,609

$ 2,066,213

$ 2,003,012

$ 1,958,160

$ 2,132,932

Return on average common equity

7.69 %

8.01 %

9.08 %

-66.29 %

6.20 %

Return on tangible common equity

13.32 %

13.90 %

15.92 %

-113.56 %

10.73 %

Adjusted return on average common equity (non-GAAP)

8.32 %

8.01 %

9.19 %

7.65 %

6.34 %

Adjusted return on tangible common equity (non-GAAP)

14.37 %

13.91 %

16.10 %

13.62 %

10.97 %

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date (continued)

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$ 147,739

$ 140,673

$ 139,862

$ 142,032

$ 138,589

Certain noninterest expense items (non-GAAP)

Severance/early retirement program costs

(1,320)

(283)

(305)

(1,594)

FDIC Deposit Insurance special assessment

1,984

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(6,099)

(531)

(85)

(2,004)

(163)

Other real estate and foreclosure expense adjustment

(695)

(315)

(432)

(200)

(216)

Amortization of intangibles adjustment

(3,097)

(3,098)

Adjusted efficiency ratio numerator

$ 136,528

$ 137,231

$ 135,118

$ 136,426

$ 133,518

Net interest income

$ 200,627

$ 197,168

$ 197,296

$ 186,661

$ 171,824

Noninterest income

47,939

44,197

51,708

(756,187)

42,354

Fully tax-equivalent adjustment (2)

3,029

3,012

2,890

3,811

6,422

Efficiency ratio denominator

251,595

244,377

251,894

(565,715)

220,600

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

570

(Gain) loss on sale of securities

801,492

Adjusted efficiency ratio denominator

$ 251,595

$ 244,377

$ 251,894

$ 236,347

$ 220,600

Efficiency ratio (1)

58.72 %

57.56 %

55.52 %

-25.11 %

62.82 %

Adjusted efficiency ratio (non-GAAP) (1)

54.26 %

56.16 %

53.64 %

57.72 %

60.52 %

Calculation of Total Revenue and Adjusted Total Revenue

Net interest income

$ 200,627

$ 197,168

$ 197,296

$ 186,661

$ 171,824

Noninterest income

47,939

44,197

51,708

(756,187)

42,354

Total revenue

248,566

241,365

249,004

(569,526)

214,178

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

570

Less: Gain (loss) on sale of securities

(801,492)

Adjusted total revenue

$ 248,566

$ 241,365

$ 249,004

$ 232,536

$ 214,178

Calculation of Pre-Provision Net Revenue (PPNR)

Net interest income

$ 200,627

$ 197,168

$ 197,296

$ 186,661

$ 171,824

Noninterest income

47,939

44,197

51,708

(756,187)

42,354

Total revenue

248,566

241,365

249,004

(569,526)

214,178

Less: Noninterest expense

147,739

140,673

139,862

142,032

138,589

Pre-Provision Net Revenue (PPNR)

$ 100,827

$ 100,692

$ 109,142

$ (711,558)

$ 75,589

Calculation of Adjusted Pre-Provision Net Revenue

Pre-Provision Net Revenue (PPNR)

$ 100,827

$ 100,692

$ 109,142

$ (711,558)

$ 75,589

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

570

Plus: Loss (gain) on sale of securities

801,492

Plus: FDIC Deposit Insurance special assessment

(1,984)

Plus: Certain professional services

1,200

Plus: Severance/early retirement program costs

1,320

283

305

1,594

Plus: Termination of vendor and software services

Plus: Loss on sale of Equipment Finance business

1,118

Plus: Branch/real estate rightsizing costs, net

6,099

531

2,004

163

Adjusted Pre-Provision Net Revenue

$ 108,246

$ 100,722

$ 110,357

$ 92,813

$ 77,346

(1) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent} and noninterest revenues. Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest income (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Year-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Calculation of Adjusted Return on Average Assets & Average Tangible Assets

Net income (loss)

$ 135,235

$ 68,544

$ (397,553)

$ (475,631)

$ 87,161

Amortization of intangibles, net of taxes

4,575

2,288

9,469

7,181

4,894

Total adjusted tangible net income (non-GAAP)

$ 139,810

$ 70,832

$ (388,084)

$ (468,450)

$ 92,055

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,603

283

1,899

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,630

531

3,246

3,161

1,157

Tax effect of certain items (1)

(1,947)

(8)

(177,686)

(177,368)

(719)

Adjusted earnings (non-GAAP)

140,737

68,566

233,098

154,123

89,193

Amortization of intangibles, net of taxes

4,575

2,288

9,469

7,181

4,894

Total adjusted tangible net income (non-GAAP)

$ 145,312

$ 70,854

$ 242,567

$ 161,304

$ 94,087

Average total assets

$ 24,585,803

$ 24,533,005

$ 25,614,700

$ 26,073,100

$ 26,661,787

Average intangible assets:

Goodwill

(1,320,799)

Other intangibles

(81,677)

(83,248)

(90,913)

(92,499)

(94,100)

Total average intangibles

(1,402,476)

(1,404,047)

(1,411,712)

(1,413,298)

(1,414,899)

Average tangible assets (non-GAAP)

$ 23,183,327

$ 23,128,958

$ 24,202,988

$ 24,659,802

$ 25,246,888

Return on average assets

1.11 %

1.13 %

-1.55 %

-2.44 %

0.66 %

Adjusted return on average assets (non-GAAP)

1.15 %

1.13 %

0.91 %

0.79 %

0.67 %

Return on average tangible assets (non-GAAP)

1.22 %

1.24 %

-1.60 %

-2.54 %

0.74 %

Adjusted return on average tangible assets (non-GAAP)

1.26 %

1.24 %

1.00 %

0.87 %

0.75 %

Calculation of Return on Tangible Common Equity

Net income (loss) available to common stockholders

$ 135,235

$ 68,544

$ (397,553)

$ (475,631)

$ 87,161

Amortization of intangibles, net of taxes

4,575

2,288

9,469

7,181

4,894

Total income available to common stockholders

$ 139,810

$ 70,832

$ (388,084)

$ (468,450)

$ 92,055

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

FDIC Deposit Insurance special assessment

(1,984)

Certain professional services

1,200

Severance/early retirement program costs

1,603

283

1,899

1,594

Termination of vendor and software services

Loss on sale of Equipment Finance business

1,118

Loss (gain) on sale of securities

801,492

Branch/real estate rightsizing costs, net

6,630

531

3,246

3,161

1,157

Tax effect of certain items (1)

(1,947)

(8)

(177,686)

(177,368)

(719)

Adjusted earnings (non-GAAP)

140,737

68,566

233,098

154,123

89,193

Amortization of intangibles, net of taxes

4,575

2,288

9,469

7,181

4,894

Total adjusted earnings available to common stockholders (non-GAAP)

$ 145,312

$ 70,854

$ 242,567

$ 161,304

$ 94,087

Average common stockholders' equity

$ 3,474,419

$ 3,470,260

$ 3,471,531

$ 3,492,261

$ 3,555,265

Average intangible assets:

Goodwill

(1,320,799)

Other intangibles

(81,677)

(83,248)

(90,913)

(92,499)

(94,100)

Total average intangibles

(1,402,476)

(1,404,047)

(1,411,712)

(1,413,298)

(1,414,899)

Average tangible common stockholders' equity (non-GAAP)

$ 2,071,943

$ 2,066,213

$ 2,059,819

$ 2,078,963

$ 2,140,366

Return on average common equity

7.85 %

8.01 %

-11.45 %

-18.21 %

4.94 %

Return on tangible common equity

13.61 %

13.90 %

-18.84 %

-30.13 %

8.67 %

Adjusted return on average common equity (non-GAAP)

8.17 %

8.01 %

6.71 %

5.90 %

5.06 %

Adjusted return on tangible common equity (non-GAAP)

14.14 %

13.91 %

11.78 %

10.37 %

8.86 %

(1) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

Simmons First National Corporation

SFNC

Reconciliation Of Non-GAAP Financial Measures - Year-to-Date

For the Quarters Ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

(Unaudited)

2026

2025

($ in thousands)

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$ 288,412

$ 140,673

$ 565,063

$ 425,201

$ 283,169

Certain noninterest expense items (non-GAAP)

Severance/early retirement program costs

(1,603)

(283)

(1,899)

(1,594)

FDIC Deposit Insurance special assessment

1,984

Certain professional services

(1,200)

Termination of vendor and software services

(12)

Loss on sale of Equipment Finance business

(1,118)

Branch/real estate rightsizing costs

(6,630)

(531)

(3,246)

(3,161)

(1,157)

Other real estate and foreclosure expense adjustment

(1,003)

(308)

(1,046)

(614)

(414)

Amortization of intangibles adjustment

(6,194)

(3,097)

(12,819)

(9,722)

(6,625)

Adjusted efficiency ratio numerator

$ 273,766

$ 137,238

$ 544,923

$ 409,805

$ 273,379

Net interest income

$ 397,795

$ 197,168

$ 719,203

$ 521,907

$ 335,246

Noninterest income

92,136

44,197

(615,970)

(667,678)

88,509

Fully tax-equivalent adjustment (2)

6,041

3,012

19,537

16,647

12,836

Efficiency ratio denominator

495,972

244,377

122,770

(129,124)

436,591

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

570

(Gain) loss on sale of securities

801,492

Adjusted efficiency ratio denominator

$ 495,972

$ 244,377

$ 924,832

$ 672,938

$ 436,591

Efficiency ratio (1)

58.15 %

57.56 %

460.26 %

-329.30 %

64.86 %

Adjusted efficiency ratio (non-GAAP) (1)

55.20 %

56.16 %

58.92 %

60.90 %

62.62 %

(1) Efficiency ratio is noninterest expense as a percent of net interest income (fully taxable equivalent) and noninterest revenues. Adjusted efficiency ratio is noninterest expense before foreclosed property expense, amortization of intangibles and certain adjusting items as a percent of net interest ncome (fully taxable equivalent) and noninterest revenues, excluding gains and losses from securities transactions and certain adjusting items, and is a non-GAAP measurement.

(2) Actual tax rate of 21.946% on 2025 loss on sale of securities. Effective rate of 26.135% on all other items.

SOURCE Simmons First National Corporation