SFNC Simmons First National Corporation

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Simmons First National Beat Consensus Estimates

Thursday, October 15, 2026 · 4:30 PM ET

Simmons First National (SFNC) reported earnings of $0.54 per share on revenue of $356.23 million for the third quarter ended September 2026. The consensus earnings estimate was $0.53 per share on revenue of $255.21 million. The company beat consensus estimates by 1.89% while revenue fell 0.42% compared to the same quarter a year ago.

Simmons First National Corp is a financial holding company. The Company through its subsidiaries is engaged in providing banking services including home loan, investment banking, and personal banking services to individual and corporate customers.

Earnings Whisper Grade
Power Rating
Reported Earnings
$0.54
Earnings Whisper®
—
Consensus Estimate
$0.53
Earnings Surprise
Earnings Growth17.4 %
Reported Revenue
$356.23M
Revenue Estimate
$255.21M

Consensus estimates for banks and some financial institutions are for net interest income, which may not be comparable to reported revenue.

Revenue Surprise
Revenue Growth-0.4 %

*Reported earnings and revenue figures shown above, and any guidance given, are preliminary and may be updated upon further review.*

Simmons First National Corporation Reports Third Quarter Results

PINE BLUFF, Ark., Oct. 15, 2026 /PRNewswire/ --

Simmons First National Corporation

FINANCIAL HIGHLIGHTS

   3Q26

   2Q26

   3Q25


3Q26 Highlights

INCOME STATEMENT SUMMARY (in millions)





Comparisons reflect 3Q26 vs 2Q26 unless otherwise noted

 

  • Net income of $47.1 million and diluted EPS of $0.32
  • Adjusted net income1 of $79.0 million and adjusted diluted EPS1 of $0.54
  • ROAA of 0.77% and ROE of 5.37%
  • Adjusted ROAA1 of 1.29%; adjusted ROTCE1 of 15.50%
  • Total revenue of $251.2 million and PPNR1 of $69.1 million
  • Adjusted total revenue1 of $251.2 million and adjusted PPNR1 of $112.3 million
  • Net interest margin up 8 bps to 3.92%
  • Loan yields up 5 bps and cost of deposits down 8 bps to 1.85%
  • Efficiency ratio of 71.59%; adjusted efficiency ratio1 of 53.31%
  • Provision expense exceeded net charge-offs by $14.1 million for the first nine months of 2026
  • NCO ratio at 27 bps for 3Q26; ACL at 1.37%

Total revenue

$  251.2

$  248.6

$(569.5)


Adjusted total revenue1

251.2

248.6

232.5


Pre-provision net revenue1 (PPNR)

69.1

100.8

(711.6)


Adjusted pre-provision net revenue1

112.3

108.2

92.8


Provision for credit losses

12.2

17.4

12.0


Net income (loss)

47.1

66.7

(562.8)


Adjusted net income1

79.0

72.2

64.9


PER SHARE DATA





Diluted earnings

$    0.32

$    0.46

$  (4.00)


Adjusted diluted earnings1

0.54

0.50

0.46


Cash dividend declared

0.2150

0.2150

0.2125


BALANCE SHEET (in millions)





Total loans

$17,465

$18,062

$17,189


Total deposits

18,616

19,728

19,838


Total assets

24,074

24,777

24,208


Total shareholders' equity

3,350

3,482

3,354


ASSET QUALITY





Net charge-off ratio (NCO ratio)

0.27 %

0.20 %

0.25 %


Allowance for credit losses to loans (ACL)

1.37

1.32

1.50


CAPITAL RATIOS





Equity to assets (EA) ratio

13.91 %

14.05 %

13.85 %


Tangible common equity (TCE) ratio1

8.62

8.91

8.53


Common equity tier 1 (CET1) ratio

12.05

11.60

11.54


Total risk-based capital ratio

14.80

14.35

15.07


OTHER RATIOS





Return on average assets (ROAA)

0.77 %

1.09 %

(8.96) %


Adjusted ROAA1

1.29

1.17

1.03


Return on average common equity (ROE)

5.37

7.69

(66.29)


Return on average tangible common equity1 (ROTCE)

9.42

13.32

(113.56)


Adjusted  ROTCE1

15.50

14.37

13.62


Net interest margin (FTE)2

3.92

3.84

3.50


Efficiency ratio

71.59

58.72

(25.11)


Adjusted efficiency ratio1

53.31

54.26

57.72


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

"The third quarter showcased our commitment to delivering sustainable long-term value through focused execution of several strategic initiatives designed to improve profitability and further optimize our balance sheet. We continue to achieve reductions in noninterest expenses as well as back-book loans and deposits with low relationship value. Combined with disciplined loan and deposit pricing, these initiatives drove net interest margin expansion of 8 basis points to 3.92%, and drove meaningful improvements in our adjusted ROAA and adjusted ROTCE performance.

Credit quality metrics remained relatively stable during the quarter, as we actively manage legacy credits and pursue early identification of potential problems. We continue strengthening reserves to buffer our already strong capital levels. 

As we look to the fourth quarter and beyond, we will remain relentless in our commitment to the principles of generating sound and profitable growth. By simplifying and focusing our business, we have gained efficiencies that will more than fund ongoing investments that support high-value organic growth. We plan to further outline our strategic objectives and future financial targets at our upcoming Investor Day in December."

Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported net income of $47.1 million for the third quarter of 2026, compared to net income of $66.7 million for the second quarter of 2026 and a net loss of $562.8 million in the third quarter of 2025. Diluted earnings per share were $0.32 for the third quarter of 2026, compared to $0.46 for the second quarter of 2026 and $(4.00) for the third quarter of 2025. Adjusted earnings1 for the third quarter of 2026 were $79.0 million, compared to $72.2 million for the second quarter of 2026 and $64.9 million for the third quarter of 2025. Adjusted diluted earnings per share1 for the third quarter of 2026 were $0.54, compared to $0.50 for the second quarter of 2026 and $0.46 for the third quarter of 2025.

For the third quarter of 2026, return on average assets was 0.77 percent and return on average common equity was 5.37 percent. Adjusted return on average assets1 was 1.29 percent and adjusted return on average tangible common equity1 was 15.50 percent.

The table below summarizes the impact of certain items, consisting primarily of branch/real estate rightsizing costs, severance/early retirement program costs, certain professional services, accelerated prepaid expenses, loss on sale of securities and loss on early extinguishment of debt. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.

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

$ in millions, except per share data


            3Q26

            2Q26

           3Q25

Net income (loss)


$ 47.1

$ 66.7

$(562.8)






Branch/real estate rightsizing costs, net


14.2

6.1

2.0

Severance/early retirement program costs


6.0

1.3

0.3

Certain professional services


17.1

-

-

Accelerated prepaid expenses


5.9

-

-

Loss on sale of securities


-

-

801.5

Loss on early extinguishment of debt


-

-

0.6

   Total pre-tax impact


43.2

7.4

804.4

Tax effect


(11.3)

(1.9)

(176.7)

   Total impact on earnings


31.9

5.5

627.7

Adjusted earnings1, 3


$ 79.0

$ 72.2

$   64.9






Diluted EPS


$ 0.32

$ 0.46

$(4.00)






Branch/real estate rightsizing costs, net


0.10

0.04

0.01

Severance/early retirement program costs


0.04

0.01

-

Certain professional services


0.12

-

-

Accelerated prepaid expenses


0.04

-

-

Loss on sale of securities


-

-

5.70

Loss on early extinguishment of debt


-

-

-

   Total pre-tax impact


0.30

0.05

5.71

Tax effect


(0.08)

(0.01)

(1.25)

   Total impact on earnings


0.22

0.04

4.46

Adjusted Diluted EPS1


$ 0.54

$ 0.50

$ 0.46

Net Interest Income
Net interest income for the third quarter of 2026 totaled $204.0 million, up $3.3 million, or 7 percent annualized, compared to $200.6 million for the second quarter of 2026 and up $17.3 million, or 9 percent, compared to $186.7 million for the third quarter of 2025. The increase in net interest income on a linked quarter basis was due to a $1.4 million increase in interest income, coupled with a $2.0 million decrease in interest expense. These changes were primarily driven by loan yields increasing as lower fixed rate loan back book repriced higher, continued optimization of funding costs, including lower customer deposit costs and utilization of FHLB advances as an alternative to higher rate brokered deposits, and one extra day in the quarter. The increase in net interest income on a year-over-year basis was primarily due to a full quarter impact of balance sheet repositioning completed in the third quarter of 2025, along with the previously mentioned lower fixed rate loan back book repricing and optimization of funding cost.

Net interest margin for the third quarter of 2026 on a fully taxable equivalent (FTE) basis2 was 3.92 percent, up 8 basis points compared to 3.84 percent for the second quarter of 2026 and up 42 basis points compared to 3.50 percent for the third quarter of 2025. The increase in net interest margin on a linked quarter basis reflected an increase in loan yields, coupled with the deleveraging of the balance sheet driven by the run-off of certain lower yielding, low relationship credits and a corresponding reduction of higher cost funding. The increase in the net interest margin on a year-over-year basis primarily reflected the full impact of the balance sheet repositioning that was completed during the third quarter of 2025 and previously mentioned optimization of loan yields and funding cost.

Select Yield/Rates

3Q26

2Q26

1Q26

4Q25

3Q25

Loan yield (FTE)2

6.20 %

6.15 %

6.16 %

6.23 %

6.31 %

Investment securities yield (FTE)2

4.33

4.26

4.25

4.30

4.01

Cost of interest bearing deposits

2.39

2.46

2.47

2.62

2.86

Cost of deposits

1.85

1.93

1.96

2.04

2.25

Net interest spread (FTE)2

3.35

3.26

3.27

3.18

2.86

Net interest margin (FTE)2

3.92

3.84

3.84

3.81

3.50

Noninterest Income
Noninterest income for the third quarter of 2026 was $47.2 million, compared to $47.9 million in the second quarter of 2026 and $(756.2) million in the third quarter of 2025. Included in noninterest income in the third quarter of 2025 was a loss on the sale of securities totaling $801.5 million in connection with the balance sheet repositioning. Adjusted noninterest income1 for the third quarter of 2025 was $45.9 million. The decrease in noninterest income on a linked quarter basis was primarily due to a decrease in swap fee income and a higher positive valuation adjustment on Small Business Investment Company (SBIC) investments in the second quarter of 2026, both of which are included in "other income" in the table below. These decreases more than offset a $1.3 million increase in service charges on deposit accounts and a $1.2 million increase in wealth management services.

Noninterest Income

$ in millions

3Q26

      2Q26

     1Q26

      4Q25

     3Q25

Service charges on deposit accounts

$    13.6

$    12.3

$   12.7

$    12.7

$    13.0

Wealth management services

11.4

10.2

10.5

10.3

10.0

Debit and credit card services

8.7

9.0

8.5

8.7

8.5

Mortgage lending income

1.7

2.0

1.9

2.2

2.3

Other service charges and fees

1.5

1.6

1.6

1.5

1.5

Bank owned life insurance

4.2

4.2

4.2

3.9

3.9

Gain (loss) on sale of securities

-

-

-

-

(801.5)

Other income

6.0

8.6

4.8

12.4

6.1

   Total noninterest income

$    47.2

$  47.9

$  44.2

$   51.7

$(756.2)







Adjusted noninterest income1

$    47.2

$  47.9

$  44.2

$   51.7

$   45.9

Noninterest Expense
Noninterest expense for the third quarter of 2026 was $182.0 million, compared to $147.7 million in the second quarter of 2026 and $142.0 million in the third quarter of 2025. Included in noninterest expense are certain items consisting of branch/real estate rightsizing costs, severance/early retirement program costs, certain professional services, accelerated prepaid expenses and loss on early extinguishment of debt. Collectively, these items totaled $43.1 million in the third quarter of 2026, $7.4 million in the second quarter of 2026 and $2.3 million in the third quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense1 was $138.9 million in the third quarter of 2026, $140.3 million in the second quarter of 2026 and $139.7 million in the third quarter of 2025. The efficiency ratio for the third quarter of 2026 was 71.59 percent, compared to 58.72 percent for the second quarter of 2026 and (25.11) percent for the third quarter of 2025. The adjusted efficiency ratio1 was 53.31 percent for the third quarter of 2026, compared to 54.26 percent for the second quarter of 2026 and 57.72 percent for the third quarter of 2025.

Noninterest Expense

$ in millions

 3Q26

 2Q26

 1Q26

 4Q25

     3Q25

Salaries and employee benefits

$  78.1

$ 75.6

$ 75.9

$  72.9

$  76.2

Occupancy expense, net

11.7

14.7

12.2

11.6

12.1

Furniture and equipment

5.4

5.7

5.4

5.3

5.3

Deposit insurance

4.5

4.5

2.3

4.7

5.2

Other real estate and foreclosure expense

0.2

0.7

0.3

0.4

0.2

Other operating expenses

82.1

46.6

44.5

44.8

43.0

   Total noninterest expense

$182.0

$147.7

$140.7

$139.9

$142.0







Adjusted salaries and employee benefits1

$  72.1

$  74.3

$  75.6

$ 72.9

$  75.9

Adjusted other operating expenses1

45.0

44.2

43.1

44.0

41.5

Adjusted noninterest expense1

138.9

140.3

140.6

138.6

139.7

Efficiency ratio

71.59 %

58.72 %

57.56 %

55.52 %

(25.11) %

Adjusted efficiency ratio1

53.31

54.26

56.16

53.64

57.72

Full-time equivalent employees

2,712

2,909

2,913

2,917

2,883

Number of financial centers

220

220

221

222

223

Loans and Unfunded Loan Commitments
Total loans at the end of the third quarter of 2026 were $17.5 billion, compared to $18.1 billion at the end of the second quarter of 2026 and $17.2 billion at the end of the third quarter of 2025. The decrease in total loans on a linked quarter basis reflected higher levels of paydowns, early payoffs, and continued focus on profitability and relationship banking as we deleveraged the balance sheet through the run-off of certain lower yielding, low relationship credits. Unfunded commitments at the end of the third quarter of 2026 were $4.4 billion, relatively unchanged from second quarter 2026 levels and up from $4.0 billion at the end of the third quarter of 2025. The commercial loan pipeline totaled $1.3 billion at the end of the third quarter of 2026, and ready-to-close commercial loans totaled $455 million with a weighted average rate of 6.78 percent.

Loans and Unfunded Loan Commitments 

$ in millions

3Q26

      2Q26

      1Q26

      4Q25

      3Q25

Total loans

$17,465

$18,062

$17,933

$17,492

$17,189

Unfunded loan commitments

4,356

4,384

4,068

3,871

3,955

Deposits and Other Borrowings
Total deposits at the end of the third quarter of 2026 were $18.6 billion, compared to $19.7 billion at the end of the second quarter of 2026 and $19.8 billion at the end of the third quarter of 2025. Noninterest bearing deposits totaled $4.3 billion at the end of the third quarter of 2026, compared to $4.4 billion at the end of both the second quarter of 2026 and the third quarter of 2025. Interest bearing deposits at the end of the third quarter of 2026 totaled $14.3 billion, compared to $15.4 billion at the end of the second quarter of 2026 and $15.5 billion at the end of the third quarter of 2025. The decrease in interest bearing deposits on a linked quarter basis reflected balance sheet deleveraging of higher rate deposits, seasonal decreases in public fund deposits and a reduction in the utilization of brokered deposits given pricing relative to FHLB advances. The decrease in total deposits on a year-over-year basis primarily reflected a decrease in time deposits, coupled with a decrease in brokered deposits.

Other borrowings at the end of the third quarter of 2026 were $1.4 billion, compared to $941.3 million at the end of the second quarter of 2026 and $18.8 million at the end of the third quarter of 2025. The increase in other borrowings on a linked quarter and year-over-year basis reflected increased utilization of short-term FHLB advances given favorable pricing.

Deposits

$ in millions

 3Q26

 2Q26

 1Q26

 4Q25

 3Q25

Noninterest bearing deposits

$  4,286

$  4,350

$  4,290

$  4,330

$  4,377

Interest bearing transaction accounts

10,288

10,332

10,667

10,453

10,289

Time deposits

3,107

3,233

3,334

3,508

3,331

Brokered deposits

935

1,813

1,912

1,893

1,841

   Total deposits

$18,616

$19,728

$20,203

$20,184

$19,838







Noninterest bearing deposits to total deposits

23 %

22 %

21 %

21 %

22 %

Total loans to total deposits

94

92

89

87

87

Asset Quality
Provision for credit losses on loans totaled $12.2 million for the third quarter of 2026, compared to $17.4 million in the second quarter of 2026 and $15.2 million in the third quarter of 2025. Net charge-offs as a percentage of average loans for the third quarter of 2026 were 27 basis points, compared to 20 basis points in the second quarter of 2026 and 25 basis points in the third quarter of 2025. The allowance for credit losses on loans at the end of the third quarter of 2026 was $238.5 million, compared to $238.2 million at the end of the second quarter of 2026 and $258.0 million at the end of the third quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the third quarter of 2026 was 1.37 percent, compared to 1.32 percent at the end of the second quarter of 2026 and 1.50 percent at the end of the third quarter of 2025.

Loans past due 30-89 days as a percentage of total loans were 30 basis points at the end of the third quarter of 2026, compared to 29 basis points at the end of the second quarter of 2026 and 11 basis points at the end of the third quarter of 2025. Total nonperforming loans at the end of the third quarter of 2026 totaled $179.9 million, compared to $166.1 million at the end of the second quarter of 2026 and $153.9 million at the end of the third quarter of 2025. The increase in nonperforming loans on a linked quarter basis reflected normal credit migration. The nonperforming loan coverage ratio ended the third quarter of 2026 at 133 percent, compared to 143 percent at the end of the second quarter of 2026 and 168 percent at the end of the third quarter of 2025. Total nonperforming assets as a percentage of total assets were 78 basis points at the end of the third quarter of 2026, compared to 72 basis points at the end of the second quarter of 2026 and 66 basis points at the end of the third quarter of 2025.

Asset Quality

$ in millions

 3Q26

 2Q26

     1Q26

       4Q25

      3Q25

Allowance for credit losses on loans to total loans

1.37 %

1.32 %

1.28 %

1.28 %

1.50 %

Allowance for credit losses on loans to nonperforming loans

133

143

162

199

168

Nonperforming loans to total loans

1.03

0.92

0.79

0.64

0.90

Net charge-off ratio (annualized)

0.27

0.20

0.21

1.12

0.25

Net charge-off ratio YTD (annualized)

0.23

0.21

0.21

0.47

0.24

Loans past due 30-89 days to total loans

0.30

0.29

0.51

0.27

0.11







Total nonperforming loans

$179.9

$166.1

$141.9

$112.7

$153.9

Total other nonperforming assets

7.1

11.1

12.6

12.4

6.8

   Total nonperforming assets

$187.0

$177.2

$154.5

$125.1

$160.7







Reserve for unfunded commitments

$25.6

$25.6

$25.6

$25.6

$25.6

Capital
Total stockholders' equity at the end of the third quarter of 2026 was $3.3 billion, compared to $3.5 billion at the end of the second quarter of 2026 and $3.4 billion at the end of the third quarter of 2025. Book value per share at the end of the third quarter of 2026 was $23.18, compared to $24.11 at the end of the second quarter of 2026 and unchanged from the third quarter of 2025. Tangible book value per share1 at the end of the third quarter of 2026 was $13.52, compared to $14.42 at the end of the second quarter of 2026 and $13.45 at the end of the third quarter of 2025. The decrease in book value per share and tangible book value per share on a linked quarter basis was primarily due to an increase in accumulated other comprehensive loss reflecting higher long-term interest rates, offset in part, by an increase in undivided profits.  

Total stockholders' equity as a percentage of total assets at the end of the third quarter of 2026 was 13.9 percent, compared to 14.1 percent at the end of the second quarter of 2026 and unchanged from the level at the end of the third quarter of 2025. Tangible common equity as a percentage of tangible assets1 was 8.6 percent at the end of the third quarter of 2026, compared to 8.9 percent at the end of the second quarter of 2026 and 8.5 percent at the end of the third quarter of 2025. Both Simmons and its principal subsidiary, Simmons Bank, continue to maintain regulatory capital ratios significantly above "well-capitalized" regulatory guidelines.

Select Capital Ratios

      3Q26

      2Q26

      1Q26

      4Q25

      3Q25

Stockholders' equity to total assets

13.9 %

14.1 %

13.9 %

13.9 %

13.9 %

Tangible common equity to tangible assets1

8.6

8.9

8.7

8.7

8.5

Common equity tier 1 (CET1) ratio

12.1

11.6

11.6

11.6

11.5

Tier 1 leverage ratio

10.4

10.2

10.1

10.1

9.6

Tier 1 risk-based capital ratio

12.1

11.6

11.6

11.6

11.5

Total risk-based capital ratio

14.8

14.4

14.4

14.4

15.1

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

_____________________________________________________________________________________

(1)

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

(2)

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

(3)

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

Conference Call
Management will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Friday, October 16, 2026. Interested parties can listen to this call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporation conference call, conference ID 10212015. In addition, the call will be available live or in recorded version on Simmons' website at simmonsbank.com for at least 60 days following the date of the call.

Simmons First National Corporation
Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 117 consecutive years. Its principal subsidiary, Simmons Bank, operates 220 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Recently, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks and Credit Unions 2026, by Forbes as one of America's Best-In-State Companies 2026 and by American Banker as one of the Top Performing Banks 2026 with $10 billion to $50 billion of assets. In 2025, Simmons Bank was recognized by Newsweek as one of America's Greatest Workplaces 2025 in Arkansas and one of America's Best Regional Banks 2025, and by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X or by visiting our newsroom.

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

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

Forward-Looking Statements
Certain statements in this press release may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, without limitation, statements made in Mr. Brogdon's quote, may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to Simmons' future growth, business strategies, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, dividends, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, future economic conditions and interest rates, and the adequacy of reserve levels for loans. Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, changes in credit quality, changes in interest rates and related governmental policies, the effects of a government shutdown, changes in loan demand, changes in deposit flows, changes in real estate values, changes in the assumptions used in making the forward-looking statements, changes in the securities markets generally or the price of Simmons' common stock specifically, changes in information technology affecting the financial industry, and changes in customer behaviors, including consumer spending, borrowing, and saving habits; changes in tariff policies; general economic and market conditions; changes in governmental administrations; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts in Iran and the Middle East and between Russia and Ukraine) or other major events, or the prospect of these events; the soundness of other financial institutions and any indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships; increased inflation; the loss of key employees; increased competition in the markets in which the Company operates and from non-bank financial institutions; increased unemployment; labor shortages; claims, damages, and fines related to litigation or government actions; changes in accounting principles relating to loan loss recognition (current expected credit losses); fraud that results in material losses or that the Company has not discovered yet that may result in material losses; the Company's ability to manage and successfully integrate its mergers and acquisitions and to fully realize cost savings and other benefits associated with acquisitions; increased delinquency and foreclosure rates on commercial real estate loans; significant increases in nonaccrual loan balances; cyber or other information technology threats, attacks or events; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats; reliance on third parties for key services; government legislation; and other factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those projected in or contemplated by the forward-looking statements. In addition, there can be no guarantee that the board of directors (Board) of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) is subject to, among other things, the discretion of the Board and may differ significantly from past dividends. Additional information on factors that might affect the Company's financial results is included in the Company's Form 10-K for the year ended December 31, 2025, the Company's Form 10-Qs for the quarters ended March 31, 2026 and June 30, 2026, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.

 Simmons First National Corporation 









 SFNC 

 Consolidated End of Period Balance Sheets 










 For the Quarters Ended 

Sep 30


Jun 30


Mar 31


 Dec 31


Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










 ASSETS 










 Cash and noninterest bearing balances due from banks 

$      415,752


$      377,602


$      342,603


$      380,439


$      377,604

 Interest bearing balances due from banks and federal funds sold 

343,870


211,882


205,880


331,474


266,013

     Cash and cash equivalents 

759,622


589,484


548,483


711,913


643,617

 Interest bearing balances due from banks - time 

-


100


100


100


100

 Investment securities - held-to-maturity 

-


-


-


-


-

 Investment securities - available-for-sale 

2,743,458


3,077,181


3,152,286


3,266,221


3,319,277

 Mortgage loans held for sale 

12,916


16,450


14,311


17,438


15,507

 Assets held in trading accounts 

6,874


14,541


14,543


11,685


12,695

 Loans: 










 Loans 

17,464,682


18,062,369


17,932,883


17,492,179


17,188,817

 Allowance for credit losses on loans 

(238,520)


(238,227)


(229,908)


(224,377)


(258,006)

 Net loans 

17,226,162


17,824,142


17,702,975


17,267,802


16,930,811

 Premises and equipment 

542,159


552,435


557,873


561,220


568,343

 Foreclosed assets and other real estate owned 

7,133


11,080


12,475


12,009


6,386

 Interest receivable 

110,004


103,016


101,557


104,062


104,383

 Bank owned life insurance 

548,119


545,252


542,486


540,001


539,372

 Goodwill 

1,320,799


1,320,799


1,320,799


1,320,799


1,320,799

 Other intangible assets 

75,132


78,228


81,325


84,423


87,520

 Other assets 

722,103


644,108


643,570


643,204


659,352

 Total assets 

$ 24,074,481


$ 24,776,816


$ 24,692,783


$ 24,540,877


$ 24,208,162











 LIABILITIES AND STOCKHOLDERS' EQUITY 










 Deposits: 










 Noninterest bearing transaction accounts 

$   4,285,910


$   4,350,474


$   4,289,697


$   4,330,211


$   4,377,232

 Interest bearing transaction accounts and savings deposits 

11,005,547


11,133,265


11,311,979


11,141,169


10,932,914

 Time deposits 

3,324,686


4,244,371


4,601,107


4,712,658


4,527,587

         Total deposits 

18,616,143


19,728,110


20,202,783


20,184,038


19,837,733

 Federal funds purchased and securities sold 










 under agreements to repurchase 

99,444


46,216


8,708


21,383


22,348

 Other borrowings 

1,365,751


941,256


446,756


302,253


18,832

 Subordinated notes and debentures 

301,884


312,028


315,700


317,714


648,976

 Accrued interest and other liabilities 

341,455


267,347


281,102


296,249


326,310

 Total liabilities 

20,724,677


21,294,957


21,255,049


21,121,637


20,854,199











 Stockholders' equity: 










 Common stock 

1,445


1,444


1,451


1,448


1,447

 Surplus 

2,839,951


2,837,845


2,848,952


2,846,581


2,848,977

 Undivided profits 

953,349


937,307


901,696


864,341


817,022

 Accumulated other comprehensive (loss) income 

(444,941)


(294,737)


(314,365)


(293,130)


(313,483)

 Total stockholders' equity 

3,349,804


3,481,859


3,437,734


3,419,240


3,353,963

 Total liabilities and stockholders' equity 

$ 24,074,481


$ 24,776,816


$ 24,692,783


$ 24,540,877


$ 24,208,162

 

 Simmons First National Corporation 









 SFNC 

 Consolidated Statements of Income - Quarter-to-Date 










 For the Quarters Ended 

Sep 30


Jun 30


Mar 31


Dec 31


Sep 30

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands, except per share data)










 INTEREST INCOME 










    Loans (including fees) 

$ 275,903


$ 274,271


$ 267,287


$ 270,868


$  269,210

    Interest bearing balances due from banks and federal funds sold 

2,541


2,058


2,320


2,485


6,421

    Investment securities 

30,239


31,013


31,882


33,833


37,464

    Mortgage loans held for sale 

236


202


203


227


229

    Assets held in trading accounts 

124


136


122


118


99

            TOTAL INTEREST INCOME 

309,043


307,680


301,814


307,531


313,423

 INTEREST EXPENSE 










    Time deposits 

31,154


36,996


39,949


41,989


49,064

    Other deposits 

58,295


58,536


57,653


60,516


67,546

    Federal funds purchased and securities 










      sold under agreements to repurchase 

141


426


36


57


72

    Other borrowings 

10,220


5,873


1,746


2,138


2,957

    Subordinated notes and debentures 

5,257


5,222


5,262


5,535


7,123

            TOTAL INTEREST EXPENSE 

105,067


107,053


104,646


110,235


126,762

 NET INTEREST INCOME 

203,976


200,627


197,168


197,296


186,661

 PROVISION FOR CREDIT LOSSES 










    Provision for credit losses on loans 

12,167


17,434


14,622


15,116


15,180

    Provision for credit losses on investment securities - HTM 

-


-


-


-


(3,214)

            TOTAL PROVISION FOR CREDIT LOSSES 

12,167


17,434


14,622


15,116


11,966

 NET INTEREST INCOME AFTER PROVISION 










    FOR CREDIT LOSSES 

191,809


183,193


182,546


182,180


174,695

 NONINTEREST INCOME 










    Service charges on deposit accounts 

13,609


12,329


12,656


12,669


13,045

    Debit and credit card fees 

8,735


9,008


8,503


8,660


8,478

    Wealth management fees 

11,440


10,240


10,533


10,337


9,965

    Mortgage lending income 

1,668


1,994


1,854


2,232


2,259

    Bank owned life insurance income 

4,218


4,218


4,218


3,942


3,943

    Other service charges and fees (includes insurance income) 

1,509


1,551


1,606


1,503


1,474

    Gain (loss) on sale of securities 

-


-


-


-


(801,492)

    Other income 

6,012


8,599


4,827


12,365


6,141

            TOTAL NONINTEREST INCOME 

47,191


47,939


44,197


51,708


(756,187)

 NONINTEREST EXPENSE 










    Salaries and employee benefits 

78,077


75,590


75,885


72,924


76,249

    Occupancy expense, net 

11,708


14,715


12,218


11,636


12,106

    Furniture and equipment expense 

5,382


5,739


5,423


5,304


5,275

    Other real estate and foreclosure expense 

230


695


315


432


200

    Deposit insurance 

4,519


4,450


2,295


4,736


5,175

    Other operating expenses 

82,119


46,550


44,537


44,830


43,027

            TOTAL NONINTEREST EXPENSE 

182,035


147,739


140,673


139,862


142,032

 NET INCOME (LOSS) BEFORE INCOME TAXES 

56,965


83,393


86,070


94,026


(723,524)

    Provision for income taxes 

9,852


16,702


17,526


15,948


(160,732)

 NET INCOME (LOSS) 

$   47,113


$   66,691


$   68,544


$   78,078


$ (562,792)

 BASIC EARNINGS PER SHARE 

$       0.33


$       0.46


$       0.47


$       0.54


$       (4.01)

 DILUTED EARNINGS PER SHARE 

$       0.32


$       0.46


$       0.47


$       0.54


$       (4.00)

 

 Simmons First National Corporation 








 SFNC 

 Consolidated Risk-Based Capital 










 For the Quarters Ended 

Sep 30


Jun 30


Mar 31


Dec 31


Sep 30

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Tier 1 capital










   Stockholders' equity

$   3,349,804


$   3,481,859


$   3,437,734


$   3,419,240


$   3,353,963

   Disallowed intangible assets, net of deferred tax

(1,364,874)


(1,367,717)


(1,370,562)


(1,374,839)


(1,376,255)

   Unrealized loss (gain) on AFS securities

444,941


294,737


314,365


293,130


313,483

      Total Tier 1 capital

2,429,871


2,408,879


2,381,537


2,337,531


2,291,191











Tier 2 capital










   Subordinated notes and debentures

301,884


312,028


315,700


317,714


648,976

   Subordinated debt phase out

-


-


-


-


(198,000)

   Qualifying allowance for loan losses and










      reserve for unfunded commitments

252,179


259,618


255,537


250,006


248,710

      Total Tier 2 capital

554,063


571,646


571,237


567,720


699,686

      Total risk-based capital

$   2,983,934


$   2,980,525


$   2,952,774


$   2,905,251


$   2,990,877











Risk weighted assets

$ 20,162,327


$ 20,765,212


$ 20,565,445


$ 20,106,493


$ 19,861,879











Adjusted average assets for leverage ratio

$ 23,337,099


$ 23,617,439


$ 23,487,513


$ 23,224,638


$ 23,963,356











Ratios at end of quarter










   Equity to assets

13.91 %


14.05 %


13.92 %


13.93 %


13.85 %

   Tangible common equity to tangible assets (1)

8.62 %


8.91 %


8.74 %


8.71 %


8.53 %

   Common equity Tier 1 ratio (CET1)

12.05 %


11.60 %


11.58 %


11.63 %


11.54 %

   Tier 1 leverage ratio

10.41 %


10.20 %


10.14 %


10.06 %


9.56 %

   Tier 1 risk-based capital ratio

12.05 %


11.60 %


11.58 %


11.63 %


11.54 %

   Total risk-based capital ratio

14.80 %


14.35 %


14.36 %


14.45 %


15.07 %


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

 

 Simmons First National Corporation 








 SFNC 

 Consolidated Investment Securities 










 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Investment Securities - End of Period










 Held-to-Maturity 










    U.S. Government agencies 

$              -


$              -


$              -


$              -


$              -

    Mortgage-backed securities 

-


-


-


-


-

    State and political subdivisions 

-


-


-


-


-

    Other securities 

-


-


-


-


-

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

-


-


-


-


-

 Available-for-Sale 










    U.S. Treasury 

$              -


$              -


$              -


$              -


$              -

    U.S. Government agencies 

17,708


44,425


46,329


47,172


48,355

    Mortgage-backed securities 

1,893,901


2,061,760


2,128,732


2,201,958


2,249,593

    State and political subdivisions 

751,322


865,467


838,880


859,071


845,371

    Other securities 

80,527


105,529


138,345


158,020


175,958

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

2,743,458


3,077,181


3,152,286


3,266,221


3,319,277

       Total investment securities (net of credit losses) 

$ 2,743,458


$ 3,077,181


$ 3,152,286


$ 3,266,221


$ 3,319,277

       Fair value - HTM investment securities 

$                -


$                -


$                -


$                -


$                -

 

 Simmons First National Corporation 








 SFNC 

 Consolidated Loans 










 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Loan Portfolio - End of Period










 Consumer: 










    Credit cards 

$      167,388


$      174,148


$      172,610


$      175,760


$      173,020

    Other consumer 

86,552


99,117


96,387


115,472


112,335

 Total consumer 

253,940


273,265


268,997


291,232


285,355

 Real Estate: 










    Construction 

2,475,768


2,577,630


2,621,859


2,873,807


2,874,823

    Single-family residential 

2,505,437


2,564,282


2,566,162


2,607,450


2,617,849

    Other commercial real estate 

8,715,947


8,828,771


8,764,648


8,289,968


7,875,649

 Total real estate 

13,697,152


13,970,683


13,952,669


13,771,225


13,368,321

 Commercial: 










    Commercial 

2,340,957


2,516,607


2,521,440


2,382,339


2,397,388

    Agricultural 

447,255


426,522


333,508


306,300


353,181

 Total commercial 

2,788,212


2,943,129


2,854,948


2,688,639


2,750,569

 Other 

725,378


875,292


856,269


741,083


784,572

       Total loans 

$ 17,464,682


$ 18,062,369


$ 17,932,883


$ 17,492,179


$ 17,188,817

 

 Simmons First National Corporation 








 SFNC 

 Consolidated Allowance and Asset Quality 










 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Allowance for Credit Losses on Loans










 Beginning balance 

$  238,227


$ 229,908


$   224,377


$  258,006


$  253,537











 Loans charged off: 










    Credit cards 

1,523


1,368


1,677


1,346


1,862

    Other consumer 

328


350


590


550


600

    Real estate 

8,535


5,465


6,629


25,850


1,350

    Commercial 

2,663


3,520


1,666


22,004


8,079

       Total loans charged off 

13,049


10,703


10,562


49,750


11,891











 Recoveries of loans previously charged off: 










    Credit cards 

326


244


468


347


257

    Other consumer 

241


381


301


163


303

    Real estate 

165


151


449


105


115

    Commercial 

443


812


253


390


505

       Total recoveries 

1,175


1,588


1,471


1,005


1,180

    Net loans charged off 

11,874


9,115


9,091


48,745


10,711

 Provision for credit losses on loans 

12,167


17,434


14,622


15,116


15,180

 Balance, end of quarter 

$  238,520


$ 238,227


$   229,908


$  224,377


$  258,006











Nonperforming assets










 Nonperforming loans: 










    Nonaccrual loans 

$  179,397


$ 165,295


$   141,233


$  111,791


$  153,516

    Loans past due 90 days or more 

488


753


647


948


423

       Total nonperforming loans 

179,885


166,048


141,880


112,739


153,939

 Other nonperforming assets: 










   Foreclosed assets and other real estate owned

7,133


11,080


12,475


12,009


6,386

    Other nonperforming assets 

12


60


181


323


392

       Total other nonperforming assets 

7,145


11,140


12,656


12,332


6,778

          Total nonperforming assets 

$  187,030


$ 177,188


$   154,536


$  125,071


$  160,717











 Loans past due 30-89 days (excluding nonaccrual) 

$    51,871


$   52,308


$     91,245


$    47,016


$    19,207











Ratios










 Allowance for credit losses on loans to total loans 

1.37 %


1.32 %


1.28 %


1.28 %


1.50 %

 Allowance for credit losses to nonperforming loans 

133 %


143 %


162 %


199 %


168 %

 Nonperforming loans to total loans 

1.03 %


0.92 %


0.79 %


0.64 %


0.90 %

 Nonperforming assets to total assets 

0.78 %


0.72 %


0.63 %


0.51 %


0.66 %

 Annualized net charge offs to average loans (QTD) 

0.27 %


0.20 %


0.21 %


1.12 %


0.25 %

 Annualized net charge offs to average loans (YTD) 

0.23 %


0.21 %


0.21 %


0.47 %


0.24 %

 Annualized net credit card charge offs to 










   average credit card loans (QTD) 

2.75 %


2.57 %


2.81 %


2.23 %


3.64 %

 Loans past due 30-89 days to total loans 

0.30 %


0.29 %


0.51 %


0.27 %


0.11 %

 

 Simmons First National Corporation 
















 SFNC 

 Consolidated - Average Balance Sheet and Net Interest Income Analysis 











 For the Quarters Ended 


















 (Unaudited) 



















 Three Months Ended
Sep 2026 


 Three Months Ended
Jun 2026 


 Three Months Ended
Sep 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

$      246,779


$      2,541


4.09 %


$      199,704


$      2,058


4.13 %


$      566,344


$      6,421


4.50 %

   Investment securities - taxable

2,163,583


24,728


4.53 %


2,301,053


25,472


4.44 %


2,751,493


29,183


4.21 %

   Investment securities - non-taxable (FTE)

787,115


7,461


3.76 %


802,448


7,502


3.75 %


1,242,936


11,210


3.58 %

   Mortgage loans held for sale

15,665


236


5.98 %


13,556


202


5.98 %


13,776


229


6.60 %

   Assets held in trading accounts

12,499


124


3.94 %


14,731


136


3.70 %


11,305


99


3.47 %

   Loans - including fees (FTE)

17,735,235


277,069


6.20 %


17,956,572


275,339


6.15 %


16,976,231


270,092


6.31 %

      Total interest earning assets (FTE)

20,960,876


312,159


5.91 %


21,288,064


310,709


5.85 %


21,562,085


317,234


5.84 %

   Non-earning assets

3,371,350






3,349,957






3,352,837





     Total assets

$ 24,332,226






$ 24,638,021






$ 24,914,922























LIABILITIES AND STOCKHOLDERS' EQUITY

















Interest bearing liabilities:


















   Interest bearing transaction and


















     savings accounts

$ 11,104,164


$    58,295


2.08 %


$ 11,192,627


$    58,536


2.10 %


$ 11,043,132


$    67,546


2.43 %

   Time deposits

3,764,350


31,154


3.28 %


4,406,355


36,996


3.37 %


5,116,070


49,064


3.80 %

      Total interest bearing deposits

14,868,514


89,449


2.39 %


15,598,982


95,532


2.46 %


16,159,202


116,610


2.86 %

   Federal funds purchased and securities


















     sold under agreement to repurchase

22,142


141


2.53 %


57,758


426


2.96 %


23,306


72


1.23 %

   Other borrowings

1,083,796


10,220


3.74 %


635,693


5,873


3.71 %


268,278


2,957


4.37 %

   Subordinated notes and debentures

309,678


5,257


6.73 %


314,108


5,222


6.67 %


407,922


7,123


6.93 %

      Total interest bearing liabilities

16,284,130


105,067


2.56 %


16,606,541


107,053


2.59 %


16,858,708


126,762


2.98 %

Noninterest bearing liabilities:


















   Noninterest bearing deposits

4,262,855






4,272,088






4,369,941





   Other liabilities

307,051






280,861






317,965





      Total liabilities

20,854,036






21,159,490






21,546,614





Stockholders' equity

3,478,190






3,478,531






3,368,308





      Total liabilities and stockholders' equity

$ 24,332,226






$ 24,638,021






$ 24,914,922





Net interest income (FTE)



$  207,092






$  203,656






$  190,472



Net interest spread (FTE)





3.35 %






3.26 %






2.86 %

Net interest margin (FTE)





3.92 %






3.84 %






3.50 %

 

 Simmons First National Corporation 








 SFNC 

 Consolidated - Selected Financial Data 










 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands, except share data)










QUARTER-TO-DATE










Financial Highlights - As Reported










Net Income (loss)

$        47,113


$        66,691


$        68,544


$        78,078


$    (562,792)

Diluted earnings per share

0.32


0.46


0.47


0.54


(4.00)

Return on average assets

0.77 %


1.09 %


1.13 %


1.28 %


-8.96 %

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

0.85 %


1.19 %


1.24 %


1.40 %


-9.46 %

Return on average common equity

5.37 %


7.69 %


8.01 %


9.08 %


-66.29 %

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

9.42 %


13.32 %


13.90 %


15.92 %


-113.56 %

Net interest margin (FTE)

3.92 %


3.84 %


3.84 %


3.81 %


3.50 %

Efficiency ratio (2)

71.59 %


58.72 %


57.56 %


55.52 %


-25.11 %

FTE adjustment

3,116


3,029


3,012


2,890


3,811

Average diluted shares outstanding

145,054,299


145,323,958


145,340,410


145,210,222


140,648,704

Shares repurchased under plan

-


662,082


-


-


-

Average price of shares repurchased

-


21.52


-


-


-

Cash dividends declared per common share

0.215


0.215


0.215


0.213


0.213

Accretable yield on acquired loans

(221)


778


902


749


725

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










Adjusted earnings

$        78,980


$        72,171


$        68,566


$        78,975


$        64,930

Adjusted diluted earnings per share

0.54


0.50


0.47


0.54


0.46

Adjusted return on average assets

1.29 %


1.17 %


1.13 %


1.29 %


1.03 %

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

1.41 %


1.29 %


1.24 %


1.41 %


1.13 %

Adjusted return on average common equity

9.01 %


8.32 %


8.01 %


9.19 %


7.65 %

Adjusted return on tangible common equity

15.50 %


14.37 %


13.91 %


16.10 %


13.62 %

Adjusted efficiency ratio (2)

53.31 %


54.26 %


56.16 %


53.64 %


57.72 %

YEAR-TO-DATE










Financial Highlights - GAAP










Net Income (loss)

$      182,348


$      135,235


$        68,544


$    (397,553)


$    (475,631)

Diluted earnings per share

1.25


0.93


0.47


(2.95)


(3.63)

Return on average assets

1.00 %


1.11 %


1.13 %


-1.55 %


-2.44 %

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

1.10 %


1.22 %


1.24 %


-1.60 %


-2.54 %

Return on average common equity

7.01 %


7.85 %


8.01 %


-11.45 %


-18.21 %

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

12.19 %


13.61 %


13.90 %


-18.84 %


-30.13 %

Net interest margin (FTE)

3.86 %


3.84 %


3.84 %


3.32 %


3.17 %

Efficiency ratio (2)

62.70 %


58.15 %


57.56 %


460.26 %


-329.30 %

FTE adjustment

9,157


6,041


3,012


19,537


16,647

Average diluted shares outstanding

145,305,872


145,335,181


145,340,410


134,731,180


131,132,891

Cash dividends declared per common share

0.645


0.430


0.215


0.850


0.638

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










Adjusted earnings

$      219,717


$      140,737


$        68,566


$      233,098


$      154,123

Adjusted diluted earnings per share

1.51


0.97


0.47


1.73


1.18

Adjusted return on average assets

1.20 %


1.15 %


1.13 %


0.91 %


0.79 %

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

1.31 %


1.26 %


1.24 %


1.00 %


0.87 %

Adjusted return on average common equity

8.45 %


8.17 %


8.01 %


6.71 %


5.90 %

Adjusted return on tangible common equity

14.60 %


14.14 %


13.91 %


11.78 %


10.37 %

Adjusted efficiency ratio (2)

54.56 %


55.20 %


56.16 %


58.92 %


60.90 %

END OF PERIOD










Book value per share

$          23.18


$          24.11


$          23.70


$          23.62


$          23.18

Tangible book value per share

13.52


14.42


14.03


13.91


13.45

Shares outstanding

144,517,233


144,442,482


145,058,331


144,762,817


144,703,075

Full-time equivalent employees

2,712


2,909


2,913


2,917


2,883

Total number of financial centers

220


220


221


222


223


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

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

 

Simmons First National Corporation 



 SFNC 

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



 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

 (in thousands, except per share data) 










QUARTER-TO-DATE










 Net income (loss) 

$    47,113


$   66,691


$     68,544


$    78,078


$ (562,792)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


-


570

FDIC Deposit Insurance special assessment

-


-


(1,984)


-


-

Certain professional services

17,069


-


1,200


-


-

Severance/early retirement program costs

5,997


1,320


283


-


305

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


-


801,492

Branch/real estate rightsizing costs, net

14,186


6,099


531


85


2,004

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(11,274)


(1,939)


(8)


(318)


(176,649)

    Certain items, net of tax 

31,867


5,480


22


897


627,722

Adjusted earnings (non-GAAP) (2)

$    78,980


$   72,171


$     68,566


$    78,975


$    64,930











 Diluted earnings per share 

$        0.32


$       0.46


$         0.47


$        0.54


$       (4.00)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


-


-

FDIC Deposit Insurance special assessment

-


-


(0.01)


-


-

Certain professional services

0.12


-


0.01


-


-

Severance/early retirement program costs

0.04


0.01


-


-


-

Termination of vendor and software services

-


-


-


-


-

Loss on sale of Equipment Finance business

-


-


-


0.01


-

Loss (gain) on sale of securities

-


-


-


-


5.70

Branch/real estate rightsizing costs, net

0.10


0.04


-


-


0.01

Accelerated prepaid expenses

0.04


-


-


-


-

Tax effect of certain items (1)

(0.08)


(0.01)


-


(0.01)


(1.25)

    Certain items, net of tax 

0.22


0.04


-


-


4.46

 Adjusted diluted earnings per share (non-GAAP) 

$        0.54


$       0.50


$         0.47


$        0.54


$        0.46







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


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



 

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



















QUARTER-TO-DATE










    Noninterest income 

$    47,191


$   47,939


$     44,197


$    51,708


$ (756,187)

Certain noninterest income items










Loss on early extinguishment of debt

-


-


-


-


570

Loss (gain) on sale of securities

-


-


-


-


801,492

    Adjusted noninterest income (non-GAAP) 

$    47,191


$   47,939


$     44,197


$    51,708


$    45,875











    Other income 

$      6,012


$     8,599


$       4,827


$    12,365


$      6,141

Certain other income items










Loss on early extinguishment of debt

-


-


-


-


570

    Adjusted other income (non-GAAP) 

$      6,012


$     8,599


$       4,827


$    12,365


$      6,711











    Noninterest expense 

$  182,035


$ 147,739


$   140,673


$  139,862


$  142,032

Certain noninterest expense items










Severance/early retirement program costs

(5,997)


(1,320)


(283)


-


(305)

FDIC Deposit Insurance special assessment

-


-


1,984


-


-

Certain professional services

(17,069)


-


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(14,186)


(6,099)


(531)


(85)


(2,004)

    Adjusted noninterest expense (non-GAAP) 

138,894


140,320


140,643


138,647


139,723

 Less: Fraud event 

-


-


-


-


-

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

$  138,894


$ 140,320


$   140,643


$  138,647


$  139,723











    Salaries and employee benefits 

$    78,077


$   75,590


$     75,885


$    72,924


$    76,249

Certain salaries and employee benefits items










Severance/early retirement program costs

(5,997)


(1,320)


(283)


-


(305)

Other

56


4


-


-


(1)

    Adjusted salaries and employee benefits (non-GAAP) 

$    72,136


$   74,274


$     75,602


$    72,924


$    75,943











    Other operating expenses 

$    82,119


$   46,550


$     44,537


$    44,830


$    43,027

Certain other operating expenses items










Certain professional services

(17,069)


-


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(14,174)


(2,399)


(205)


327


(1,556)

    Adjusted other operating expenses (non-GAAP) 

$    44,987


$   44,151


$     43,132


$    44,027


$    41,471

 

 Simmons First National Corporation 









 SFNC 

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



 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

 (in thousands, except per share data) 










YEAR-TO-DATE










 Net income (loss) 

$  182,348


$ 135,235


$     68,544


$ (397,553)


$ (475,631)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


570


570

FDIC Deposit Insurance special assessment

(1,984)


(1,984)


(1,984)


-


-

Certain professional services

18,269


1,200


1,200


-


-

Severance/early retirement program costs

7,600


1,603


283


1,899


1,899

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


801,492


801,492

Branch/real estate rightsizing costs, net

20,816


6,630


531


3,246


3,161

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(13,221)


(1,947)


(8)


(177,686)


(177,368)

    Certain items, net of tax 

37,369


5,502


22


630,651


629,754

Adjusted earnings (non-GAAP) (2)

$  219,717


$ 140,737


$     68,566


$  233,098


$  154,123











 Diluted earnings per share 

$        1.25


$       0.93


$         0.47


$       (2.95)


$       (3.63)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


0.01


-

FDIC Deposit Insurance special assessment

(0.01)


(0.01)


(0.01)


-


-

Certain professional services

0.13


0.01


0.01


-


-

Severance/early retirement program costs

0.05


0.01


-


0.01


0.02

Termination of vendor and software services

-


-


-


-


-

Loss on sale of Equipment Finance business

-


-


-


0.01


-

Loss (gain) on sale of securities

-


-


-


5.95


6.11

Branch/real estate rightsizing costs, net

0.14


0.04


-


0.02


0.02

Accelerated prepaid expenses

0.04


-


-


-


-

Tax effect of certain items (1)

(0.09)


(0.01)


-


(1.32)


(1.34)

    Certain items, net of tax 

0.26


0.04


-


4.68


4.81

 Adjusted diluted earnings per share (non-GAAP) 

$        1.51


$       0.97


$         0.47


$        1.73


$        1.18







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


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



 

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



















YEAR-TO-DATE










    Noninterest income 

$  139,327


$   92,136


$     44,197


$ (615,970)


$ (667,678)

Certain noninterest income items










Loss on early extinguishment of debt

-


-


-


570


570

Loss (gain) on sale of securities

-


-


-


801,492


801,492

    Adjusted noninterest income (non-GAAP) 

$  139,327


$   92,136


$     44,197


$  186,092


$  134,384











    Other income 

$    19,438


$   13,426


$       4,827


$    31,350


$    18,985

Certain other income items










Loss on early extinguishment of debt

-


-


-


570


570

    Adjusted other income (non-GAAP) 

$    19,438


$   13,426


$       4,827


$    31,920


$    19,555











    Noninterest expense 

$  470,447


$ 288,412


$   140,673


$  565,063


$  425,201

Certain noninterest expense items










Severance/early retirement program costs

(7,600)


(1,603)


(283)


(1,899)


(1,899)

FDIC Deposit Insurance special assessment

1,984


1,984


1,984


-


-

Certain professional services

(18,269)


(1,200)


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(20,816)


(6,630)


(531)


(3,246)


(3,161)

    Adjusted noninterest expense (non-GAAP) 

419,857


280,963


140,643


558,788


420,141

 Less: Fraud event 

-


-


-


(4,300)


(4,300)

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

$  419,857


$ 280,963


$   140,643


$  554,488


$  415,841











    Salaries and employee benefits 

$  229,552


$ 151,475


$     75,885


$  297,859


$  224,935

Certain salaries and employee benefits items










Severance/early retirement program costs

(7,600)


(1,603)


(283)


(1,899)


(1,899)

Other

60


4


-


-


-

    Adjusted salaries and employee benefits (non-GAAP) 

$  222,012


$ 149,876


$     75,602


$  295,960


$  223,036











    Other operating expenses 

$  173,206


$   91,087


$     44,537


$  176,184


$  131,354

Certain other operating expenses items










Certain professional services

(18,269)


(1,200)


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(22,667)


(2,604)


(205)


(1,135)


(1,462)

    Adjusted other operating expenses (non-GAAP) 

$  132,270


$   87,283


$     43,132


$  173,919


$  129,892

 

Simmons First National Corporation









 SFNC 

 Reconciliation Of Non-GAAP Financial Measures - End of Period 









 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands, except per share data)




















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















Total common stockholders' equity

$   3,349,804


$   3,481,859


$   3,437,734


$   3,419,240


$   3,353,963

Intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangible assets

(75,132)


(78,228)


(81,325)


(84,423)


(87,520)

Total intangibles

(1,395,931)


(1,399,027)


(1,402,124)


(1,405,222)


(1,408,319)

Tangible common stockholders' equity

$   1,953,873


$   2,082,832


$   2,035,610


$   2,014,018


$   1,945,644











Total assets

$ 24,074,481


$ 24,776,816


$ 24,692,783


$ 24,540,877


$ 24,208,162

Intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangible assets

(75,132)


(78,228)


(81,325)


(84,423)


(87,520)

Total intangibles

(1,395,931)


(1,399,027)


(1,402,124)


(1,405,222)


(1,408,319)

Tangible assets

$ 22,678,550


$ 23,377,789


$ 23,290,659


$ 23,135,655


$ 22,799,843











Ratio of common equity to assets

13.91 %


14.05 %


13.92 %


13.93 %


13.85 %

Ratio of tangible common equity to tangible assets

8.62 %


8.91 %


8.74 %


8.71 %


8.53 %











Calculation of Tangible Book Value per Share




















Total common stockholders' equity

$   3,349,804


$   3,481,859


$   3,437,734


$   3,419,240


$   3,353,963

Intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangible assets

(75,132)


(78,228)


(81,325)


(84,423)


(87,520)

Total intangibles

(1,395,931)


(1,399,027)


(1,402,124)


(1,405,222)


(1,408,319)

Tangible common stockholders' equity

$   1,953,873


$   2,082,832


$   2,035,610


$   2,014,018


$   1,945,644

Shares of common stock outstanding

144,517,233


144,442,482


145,058,331


144,762,817


144,703,075

Book value per common share

$          23.18


$          24.11


$          23.70


$          23.62


$          23.18

Tangible book value per common share

$          13.52


$          14.42


$          14.03


$          13.91


$          13.45











Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits



















Uninsured deposits at Simmons Bank

$   7,223,797


$   7,213,361


$   7,385,688


$   9,640,677


$   9,565,766

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

2,148,607


2,385,340


2,509,728


2,363,327


2,169,362

Less: Intercompany eliminations

407,004


324,404


432,795


2,729,191


2,937,147

Total uninsured, non-collateralized deposits

$   4,668,186


$   4,503,617


$   4,443,165


$   4,548,159


$   4,459,257











FHLB borrowing availability

$   4,993,000


$   5,412,000


$   5,831,000


$   5,999,000


$   6,134,000

Unpledged securities

1,091,000


1,488,000


1,571,000


1,480,000


1,575,000

Fed funds lines, Fed discount window and










  Bank Term Funding Program (1)

1,863,000


1,953,000


1,595,000


1,836,000


1,824,000

Additional liquidity sources

$   7,947,000


$   8,853,000


$   8,997,000


$   9,315,000


$   9,533,000











Uninsured, non-collateralized deposit coverage ratio

1.7


2.0


2.0


2.0


2.1












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

 

Simmons First National Corporation









 SFNC 

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









 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Calculation of Adjusted Return on Average Assets & Average Tangible Assets



















Net income (loss)

$        47,113


$        66,691


$        68,544


$        78,078


$    (562,792)

Amortization of intangibles, net of taxes 

2,289


2,287


2,288


2,288


2,287

Total adjusted tangible net income (non-GAAP)

$        49,402


$        68,978


$        70,832


$        80,366


$    (560,505)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


-


570

FDIC Deposit Insurance special assessment

-


-


(1,984)


-


-

Certain professional services

17,069


-


1,200


-


-

Severance/early retirement program costs

5,997


1,320


283


-


305

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


-


801,492

Branch/real estate rightsizing costs, net

14,186


6,099


531


85


2,004

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(11,274)


(1,939)


(8)


(318)


(176,649)

Adjusted earnings (non-GAAP)

78,980


72,171


68,566


78,975


64,930

Amortization of intangibles, net of taxes 

2,289


2,287


2,288


2,288


2,287

Total adjusted tangible net income (non-GAAP)

$        81,269


$        74,458


$        70,854


$        81,263


$        67,217











Average total assets

$ 24,332,226


$ 24,638,021


$ 24,533,005


$ 24,254,447


$ 24,914,922

Average intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangibles

(77,005)


(80,123)


(83,248)


(86,206)


(89,349)

Total average intangibles

(1,397,804)


(1,400,922)


(1,404,047)


(1,407,005)


(1,410,148)

Average tangible assets (non-GAAP)

$ 22,934,422


$ 23,237,099


$ 23,128,958


$ 22,847,442


$ 23,504,774











Return on average assets

0.77 %


1.09 %


1.13 %


1.28 %


-8.96 %

Adjusted return on average assets (non-GAAP)

1.29 %


1.17 %


1.13 %


1.29 %


1.03 %

Return on average tangible assets (non-GAAP)

0.85 %


1.19 %


1.24 %


1.40 %


-9.46 %

Adjusted return on average tangible assets (non-GAAP)

1.41 %


1.29 %


1.24 %


1.41 %


1.13 %











Calculation of Return on Tangible Common Equity




















Net income (loss)  available to common stockholders

$        47,113


$        66,691


$        68,544


$        78,078


$    (562,792)

Amortization of intangibles, net of taxes

2,289


2,287


2,288


2,288


2,287

Total income available to common stockholders

$        49,402


$        68,978


$        70,832


$        80,366


$    (560,505)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


-


570

FDIC Deposit Insurance special assessment

-


-


(1,984)


-


-

Certain professional services

17,069


-


1,200


-


-

Severance/early retirement program costs

5,997


1,320


283


-


305

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


-


801,492

Branch/real estate rightsizing costs, net

14,186


6,099


531


85


2,004

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(11,274)


(1,939)


(8)


(318)


(176,649)

Adjusted earnings (non-GAAP)

78,980


72,171


68,566


78,975


64,930

Amortization of intangibles, net of taxes

2,289


2,287


2,288


2,288


2,287

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

$        81,269


$        74,458


$        70,854


$        81,263


$        67,217











Average common stockholders' equity

$   3,478,190


$   3,478,531


$   3,470,260


$   3,410,017


$   3,368,308

Average intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangibles

(77,005)


(80,123)


(83,248)


(86,206)


(89,349)

Total average intangibles

(1,397,804)


(1,400,922)


(1,404,047)


(1,407,005)


(1,410,148)

Average tangible common stockholders' equity (non-GAAP)

$   2,080,386


$   2,077,609


$   2,066,213


$   2,003,012


$   1,958,160











Return on average common equity

5.37 %


7.69 %


8.01 %


9.08 %


-66.29 %

Return on tangible common equity

9.42 %


13.32 %


13.90 %


15.92 %


-113.56 %

Adjusted return on average common equity (non-GAAP)

9.01 %


8.32 %


8.01 %


9.19 %


7.65 %

Adjusted return on tangible common equity (non-GAAP)

15.50 %


14.37 %


13.91 %


16.10 %


13.62 %

 

Simmons First National Corporation









 SFNC 

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





 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)




















Noninterest expense (efficiency ratio numerator)

$      182,035


$      147,739


$      140,673


$      139,862


$      142,032

Certain noninterest expense items (non-GAAP)










Severance/early retirement program costs

(5,997)


(1,320)


(283)


-


(305)

FDIC Deposit Insurance special assessment

-


-


1,984


-


-

Certain professional services

(17,069)


-


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(14,186)


(6,099)


(531)


(85)


(2,004)

Other real estate and foreclosure expense adjustment

(230)


(695)


(315)


(432)


(200)

Amortization of intangibles adjustment

(3,098)


(3,097)


(3,097)


(3,097)


(3,097)

Adjusted efficiency ratio numerator

$      135,566


$      136,528


$      137,231


$      135,118


$      136,426











Net interest income

$      203,976


$      200,627


$      197,168


$      197,296


$      186,661

Noninterest income

47,191


47,939


44,197


51,708


(756,187)

Fully tax-equivalent adjustment (2)

3,116


3,029


3,012


2,890


3,811

Efficiency ratio denominator

254,283


251,595


244,377


251,894


(565,715)

Certain noninterest income items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


-


570

(Gain) loss on sale of securities

-


-


-


-


801,492

Adjusted efficiency ratio denominator

$      254,283


$      251,595


$      244,377


$      251,894


$      236,347











Efficiency ratio (1)

71.59 %


58.72 %


57.56 %


55.52 %


-25.11 %

Adjusted efficiency ratio (non-GAAP) (1)

53.31 %


54.26 %


56.16 %


53.64 %


57.72 %











Calculation of Total Revenue and Adjusted Total Revenue




















Net interest income

$      203,976


$      200,627


$      197,168


$      197,296


$      186,661

Noninterest income

47,191


47,939


44,197


51,708


(756,187)

Total revenue

251,167


248,566


241,365


249,004


(569,526)

Certain items, pre-tax (non-GAAP)










Plus: Loss on early extinguishment of debt

-


-


-


-


570

Less: Gain (loss) on sale of securities

-


-


-


-


(801,492)

Adjusted total revenue

$      251,167


$      248,566


$      241,365


$      249,004


$      232,536











Calculation of Pre-Provision Net Revenue (PPNR)




















Net interest income

$      203,976


$      200,627


$      197,168


$      197,296


$      186,661

Noninterest income

47,191


47,939


44,197


51,708


(756,187)

Total revenue

251,167


248,566


241,365


249,004


(569,526)

Less: Noninterest expense

182,035


147,739


140,673


139,862


142,032

Pre-Provision Net Revenue (PPNR)

$        69,132


$      100,827


$      100,692


$      109,142


$    (711,558)











Calculation of Adjusted Pre-Provision Net Revenue




















Pre-Provision Net Revenue (PPNR)

$        69,132


$      100,827


$      100,692


$      109,142


$    (711,558)

Certain items, pre-tax (non-GAAP)










Plus: Loss on early extinguishment of debt

-


-


-


-


570

Plus: Loss (gain) on sale of securities

-


-


-


-


801,492

Plus: FDIC Deposit Insurance special assessment

-


-


(1,984)


-


-

Plus: Certain professional services

17,069


-


1,200


-


-

Plus: Severance/early retirement program costs

5,997


1,320


283


-


305

Plus: Termination of vendor and software services

-


-


-


12


-

Plus: Loss on sale of Equipment Finance business

-


-


-


1,118


-

Plus: Branch/real estate rightsizing costs, net

14,186


6,099


531


85


2,004

Plus: Accelerated prepaid expenses

5,889


-


-


-


-

Adjusted Pre-Provision Net Revenue

$      112,273


$      108,246


$      100,722


$      110,357


$        92,813







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

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


 

Simmons First National Corporation









 SFNC 

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









 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Calculation of Adjusted Return on Average Assets & Average Tangible Assets



















Net income (loss)

$      182,348


$      135,235


$        68,544


$    (397,553)


$    (475,631)

Amortization of intangibles, net of taxes 

6,864


4,575


2,288


9,469


7,181

Total adjusted tangible net income (non-GAAP)

$      189,212


$      139,810


$        70,832


$    (388,084)


$    (468,450)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


570


570

FDIC Deposit Insurance special assessment

(1,984)


(1,984)


(1,984)


-


-

Certain professional services

18,269


1,200


1,200


-


-

Severance/early retirement program costs

7,600


1,603


283


1,899


1,899

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


801,492


801,492

Branch/real estate rightsizing costs, net

20,816


6,630


531


3,246


3,161

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(13,221)


(1,947)


(8)


(177,686)


(177,368)

Adjusted earnings (non-GAAP)

219,717


140,737


68,566


233,098


154,123

Amortization of intangibles, net of taxes 

6,864


4,575


2,288


9,469


7,181

Total adjusted tangible net income (non-GAAP)

$      226,581


$      145,312


$        70,854


$      242,567


$      161,304











Average total assets

$ 24,500,349


$ 24,585,803


$ 24,533,005


$ 25,614,700


$ 26,073,100

Average intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangibles

(80,102)


(81,677)


(83,248)


(90,913)


(92,499)

Total average intangibles

(1,400,901)


(1,402,476)


(1,404,047)


(1,411,712)


(1,413,298)

Average tangible assets (non-GAAP)

$ 23,099,448


$ 23,183,327


$ 23,128,958


$ 24,202,988


$ 24,659,802











Return on average assets

1.00 %


1.11 %


1.13 %


-1.55 %


-2.44 %

Adjusted return on average assets (non-GAAP)

1.20 %


1.15 %


1.13 %


0.91 %


0.79 %

Return on average tangible assets (non-GAAP)

1.10 %


1.22 %


1.24 %


-1.60 %


-2.54 %

Adjusted return on average tangible assets (non-GAAP)

1.31 %


1.26 %


1.24 %


1.00 %


0.87 %











Calculation of Return on Tangible Common Equity




















Net income (loss)  available to common stockholders

$      182,348


$      135,235


$        68,544


$    (397,553)


$    (475,631)

Amortization of intangibles, net of taxes

6,864


4,575


2,288


9,469


7,181

Total income available to common stockholders

$      189,212


$      139,810


$        70,832


$    (388,084)


$    (468,450)

Certain items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


570


570

FDIC Deposit Insurance special assessment

(1,984)


(1,984)


(1,984)


-


-

Certain professional services

18,269


1,200


1,200


-


-

Severance/early retirement program costs

7,600


1,603


283


1,899


1,899

Termination of vendor and software services

-


-


-


12


-

Loss on sale of Equipment Finance business

-


-


-


1,118


-

Loss (gain) on sale of securities

-


-


-


801,492


801,492

Branch/real estate rightsizing costs, net

20,816


6,630


531


3,246


3,161

Accelerated prepaid expenses

5,889


-


-


-


-

Tax effect of certain items (1)

(13,221)


(1,947)


(8)


(177,686)


(177,368)

Adjusted earnings (non-GAAP)

219,717


140,737


68,566


233,098


154,123

Amortization of intangibles, net of taxes

6,864


4,575


2,288


9,469


7,181

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

$      226,581


$      145,312


$        70,854


$      242,567


$      161,304











Average common stockholders' equity

$   3,475,690


$   3,474,419


$   3,470,260


$   3,471,531


$   3,492,261

Average intangible assets:










   Goodwill

(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)


(1,320,799)

   Other intangibles

(80,102)


(81,677)


(83,248)


(90,913)


(92,499)

Total average intangibles

(1,400,901)


(1,402,476)


(1,404,047)


(1,411,712)


(1,413,298)

Average tangible common stockholders' equity (non-GAAP)

$   2,074,789


$   2,071,943


$   2,066,213


$   2,059,819


$   2,078,963











Return on average common equity

7.01 %


7.85 %


8.01 %


-11.45 %


-18.21 %

Return on tangible common equity

12.19 %


13.61 %


13.90 %


-18.84 %


-30.13 %

Adjusted return on average common equity (non-GAAP)

8.45 %


8.17 %


8.01 %


6.71 %


5.90 %

Adjusted return on tangible common equity (non-GAAP)

14.60 %


14.14 %


13.91 %


11.78 %


10.37 %







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


 

Simmons First National Corporation









 SFNC 

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







 For the Quarters Ended 

 Sep 30 


 Jun 30 


 Mar 31 


 Dec 31 


 Sep 30 

 (Unaudited) 

2026


2026


2026


2025


2025

($ in thousands)










Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)




















Noninterest expense (efficiency ratio numerator)

$      470,447


$      288,412


$      140,673


$      565,063


$      425,201

Certain noninterest expense items (non-GAAP)










Severance/early retirement program costs

(7,600)


(1,603)


(283)


(1,899)


(1,899)

FDIC Deposit Insurance special assessment

1,984


1,984


1,984


-


-

Certain professional services

(18,269)


(1,200)


(1,200)


-


-

Termination of vendor and software services

-


-


-


(12)


-

Loss on sale of Equipment Finance business

-


-


-


(1,118)


-

Accelerated prepaid expenses

(5,889)


-


-


-


-

Branch/real estate rightsizing costs

(20,816)


(6,630)


(531)


(3,246)


(3,161)

Other real estate and foreclosure expense adjustment

(1,233)


(1,003)


(308)


(1,046)


(614)

Amortization of intangibles adjustment

(9,292)


(6,194)


(3,097)


(12,819)


(9,722)

Adjusted efficiency ratio numerator

$      409,332


$      273,766


$      137,238


$      544,923


$      409,805











Net interest income

$      601,771


$      397,795


$      197,168


$      719,203


$      521,907

Noninterest income

139,327


92,136


44,197


(615,970)


(667,678)

Fully tax-equivalent adjustment (2)

9,157


6,041


3,012


19,537


16,647

Efficiency ratio denominator

750,255


495,972


244,377


122,770


(129,124)

Certain noninterest income items (non-GAAP)










Loss on early extinguishment of debt

-


-


-


570


570

(Gain) loss on sale of securities

-


-


-


801,492


801,492

Adjusted efficiency ratio denominator

$      750,255


$      495,972


$      244,377


$      924,832


$      672,938











Efficiency ratio (1)

62.70 %


58.15 %


57.56 %


460.26 %


-329.30 %

Adjusted efficiency ratio (non-GAAP) (1)

54.56 %


55.20 %


56.16 %


58.92 %


60.90 %







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

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


 

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SOURCE Simmons First National Corporation