Financial Highlights
1Q26
4Q25
1Q25
1Q26 Highlights
Income Statement Summary (in millions)
Comparisons reflect 1Q26 vs 4Q25unless otherwise noted
• Net income of $68.5 million and diluted EPS of $0.47
• Adjusted net income1 of $68.6 million and adjusted diluted EPS1 of $0.47
• ROAA of 1.13% and ROE of 8.01%
• Adjusted ROAA1 of 1.13%; adjusted ROTCE1 of 13.91%
• Total revenue of $241.4 million and PPNR1 of $100.7 million
• Net interest margin up 3 bps to 3.84%; cost of deposits down 8 bps to 1.96%
• Efficiency ratio of 57.56%; adjusted efficiency ratio1 of 56.16%
• Broad based growth drives total loans up 10% annualized
• Unfunded commitments up 5%
• Total average deposits up 6% annualized
• Provision expense exceeded net charge-offs by $5.5 million
• NCO ratio at 21 bps for 1Q26; ACL steady at 1.28%
Total revenue
$ 241.4
$ 249.0
$209.6
Adjusted total revenue1
241.4
249.0
209.6
Pre-provision net revenue1 (PPNR)
100.7
109.1
65.0
Adjusted pre-provision net revenue1
100.7
110.4
66.0
Provision for credit losses
14.6
15.1
26.8
Net income
68.5
78.1
32.4
Adjusted net income1
68.6
79.0
33.1
Per share Data
Diluted earnings
$ 0.47
$ 0.54
$ 0.26
Adjusted diluted earnings1
0.47
0.54
0.26
Cash dividend declared
0.2150
0.2125
0.2125
Balance Sheet (in millions)
Total loans
$17,933
$17,492
$17,094
Total deposits
20,203
20,184
21,685
Total assets
24,693
24,541
26,793
Total shareholders' equity
3,438
3,419
3,531
Asset Quality
Net charge-off ratio (NCO ratio)
0.21 %
1.12 %
0.23 %
Allowance for credit losses to loans (ACL)
1.28
1.28
1.48
Capital Ratios
Equity to assets (EA) ratio
13.92 %
13.93 %
13.18 %
Tangible common equity (TCE) ratio1
8.74
8.71
8.34
Common equity tier 1 (CET1) ratio
11.58
11.63
12.21
Total risk-based capital ratio
14.36
14.45
14.59
Other Ratios
Return on average assets
1.13 %
1.28 %
0.49 %
Adjusted return on average assets1
1.13
1.29
0.50
Return on average common equity
8.01
9.08
3.69
Return on average tangible common equity1
13.90
15.92
6.61
Adj. return onavg. tangible common equity1
13.91
16.10
6.75
Net interest margin (FTE)
3.84
3.81
2.95
Efficiency ratio
57.56
55.52
66.94
Adjusted efficiency ratio1
56.16
53.64
64.75
Jay Brogdon, Simmons' President and CEO, commented on first quarter 2026 results:
Simmons delivered solid results in the first quarter driven by strong loan growth, expanding margin, and continued earnings momentum. Loans grew 10 percent linked quarter annualized, with growth broad-based across geography and industry. Net interest margin expanded linked quarter, increasing three basis points to 3.84 percent, benefiting from disciplined relationship pricing, fixed rate asset repricing and improving funding costs. Net charge-offs for the quarter were 21 basis points and provision expense exceeded net charge-offs by $5.5 million, primarily due to loan growth.
Looking forward, we remain committed to delivering disciplined growth and designing a more efficient and scalable infrastructure. The talent environment continues to be favorable and supports our organic growth priorities. We are increasingly optimistic about the prospects for consistently achieving returns that exceed our long-range targets.
Simmons First National Corporation (NASDAQ:SFNC) (Simmons or Company) today reported net income of $68.5 million for the first quarter of 2026, compared to net income of $78.1 million for the fourth quarter of 2025 and net income of $32.4 million for the first quarter of 2025. Diluted earnings per share were $0.47 for the first quarter of 2026, compared to $0.54 for the fourth quarter of 2025 and $0.26 for the first quarter of 2025. Adjusted earnings1 for the first quarter of 2026 were $68.6 million, compared to $79.0 million for the fourth quarter of 2025 and $33.1 million for the first quarter of 2025. Adjusted diluted earnings per share1 for the first quarter of 2026 were $0.47, compared to $0.54 for the fourth quarter of 2025 and $0.26 for the first quarter of 2025.
For the first quarter of 2026, return on average assets was 1.13 percent and return on average common equity was 8.01 percent. Adjusted return on average assets1 was 1.13 percent and adjusted return on average tangible common equity1 was 13.91 percent.
The table below summarizes the impact of certain items, consisting primarily of FDIC deposit insurance special assessment, professional services, branch right sizing costs, early retirement program costs and a loss on the sale of equipment finance business. These items are also described in further detail in the "Reconciliation of Non-GAAP Financial Measures" tables contained in this press release.
Impact of Certain Items on Earnings and Diluted Earnings Per Share (EPS)
$ in millions, except per share data
1Q26
4Q25
1Q25
Net income
$ 68.5
$ 78.1
$ 32.4
FDIC deposit insurance special assessment
(2.0)
-
-
Professional services
1.2
-
-
Branch right sizing costs, net
0.6
0.1
1.0
Early retirement program costs
0.3
-
-
Loss on sale of equipment finance business
-
1.1
-
Total pre-tax impact
0.1
1.2
1.0
Tax effect
-
(0.3)
(0.3)
Total impact on earnings
0.1
0.9
0.7
Adjusted earnings1, 3
$ 68.6
$ 79.0
$ 33.1
Diluted EPS
$ 0.47
$ 0.54
$ 0.26
FDIC deposit insurance special assessment
(0.01)
-
-
Professional services
0.01
-
-
Branch right sizing costs, net
-
-
-
Early retirement program costs
-
-
-
Loss on sale of equipment finance business
-
0.01
-
Total pre-tax impact
-
0.01
-
Tax effect
-
(0.01)
-
Total impact on earnings
-
-
-
Adjusted Diluted EPS1
$ 0.47
$ 0.54
$ 0.26
Net Interest IncomeNet interest income for the first quarter of 2026 totaled $197.2 million, compared to $197.3 million for the fourth quarter of 2025 and $163.4 million for the first quarter of 2025. The increase in net interest income on a year-over-year basis was primarily due to a $39.8 million decrease in interest expense, which included a $32.9 million decrease in interest bearing deposit costs and a $6.9 million decrease in the cost of other interest bearing liabilities. The decrease in interest expense compared to the prior year quarter reflected a reduction of wholesale funding as a result of the balance sheet repositioning completed in the third quarter of 2025, as well as a lower interest rate environment.
Net interest margin for the first quarter of 2026 on a fully taxable equivalent basis was 3.84 percent, up 3 basis points compared to 3.81 percent for the fourth quarter of 2025 and up 89 basis points compared to 2.95 percent for the first quarter of 2025. The increase in net interest margin on a linked quarter basis was driven by a 6 percent annualized increase in average loans, coupled with a 13 percent annualized increase in average low-cost interest bearing transaction and savings accounts. The increase in net interest margin on a year-over-year basis primarily reflected the balance sheet repositioning that was completed during the third quarter of 2025.
Select Yield/Rates
1Q26
4Q25
3Q25
2Q25
1Q25
Loan yield (FTE)2
6.16 %
6.23 %
6.31 %
6.26 %
6.20 %
Investment securities yield (FTE)2
4.25
4.30
4.01
3.48
3.48
Cost of interest bearing deposits
2.47
2.62
2.86
2.97
3.05
Cost of deposits
1.96
2.04
2.25
2.36
2.44
Net interest spread (FTE)2
3.27
3.18
2.86
2.41
2.30
Net interest margin (FTE)2
3.84
3.81
3.50
3.06
2.95
Noninterest IncomeNoninterest income for the first quarter of 2026 was $44.2 million, compared to $51.7 million in the fourth quarter of 2025 and $46.2 million in the first quarter of 2025. The decrease in noninterest income on a linked quarter basis was primarily due to a Small Business Investment Company (SBIC) negative valuation adjustment in the first quarter of 2026 and proceeds from bank owned life insurance death benefits recorded in the fourth quarter of 2025, both of which are included in other income in the table below.
Noninterest Income
$ in millions
1Q26
4Q25
3Q25
2Q25
1Q25
Service charges on deposit accounts
$ 12.7
$ 12.7
$ 13.0
$ 12.6
$ 12.6
Wealth management fees
10.5
10.3
10.0
9.5
9.6
Debit and credit card fees
8.5
8.7
8.5
8.6
8.4
Mortgage lending income
1.9
2.2
2.3
1.7
2.0
Other service charges and fees
1.6
1.5
1.5
1.3
1.3
Bank owned life insurance
4.2
3.9
3.9
3.9
4.1
Gain (loss) on sale of securities
-
-
(801.5)
-
-
Other income
4.8
12.4
6.1
4.8
8.0
Total noninterest income
$ 44.2
$ 51.7
$(756.2)
$ 42.4
$ 46.2
Adjusted noninterest income1
$ 44.2
$ 51.7
$ 45.9
$ 42.4
$ 46.2
Noninterest ExpenseNoninterest expense for the first quarter of 2026 was $140.7 million, compared to $139.9 million in the fourth quarter of 2025 and $144.6 million in the first quarter of 2025. Included in noninterest expense are certain items consisting of branch right sizing costs, early retirement program costs, termination of vendor and software services, FDIC Deposit Insurance special assessment, professional services and a loss on the sale of an equipment finance business. Collectively, these items totaled $30 thousand in the first quarter of 2026, $1.2 million in the fourth quarter of 2025 and $1.0 million in the first quarter of 2025. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" table below) adjusted noninterest expense1 was $140.6 million in the first quarter of 2026, $138.6 million in the fourth quarter of 2025 and $143.6 million in the first quarter of 2025. The increase in adjusted noninterest expense on a linked quarter basis was primarily due to an increase in salaries and benefits reflecting a seasonal increase in payroll taxes expense incurred during the first quarter of 2026.
Noninterest Expense
$ in millions
1Q26
4Q25
3Q25
2Q25
1Q25
Salaries and employee benefits
$ 75.9
$ 72.9
$ 76.2
$ 73.9
$ 74.8
Occupancy expense, net
12.2
11.6
12.1
11.8
12.7
Furniture and equipment
5.4
5.3
5.3
5.5
5.5
Deposit insurance
2.3
4.7
5.2
4.9
5.4
Other real estate and foreclosure expense
0.3
0.4
0.2
0.2
0.2
Other operating expenses
44.5
44.8
43.0
42.3
46.1
Total noninterest expense
$140.7
$139.9
$142.0
$138.6
$144.6
Adjusted salaries and employee benefits1
$ 75.6
$ 72.9
$ 75.9
$ 72.3
$ 74.8
Adjusted other operating expenses1
43.1
44.0
41.5
42.5
45.9
Adjusted noninterest expense1
140.6
138.6
139.7
136.8
143.6
Efficiency ratio
57.56 %
55.52 %
(25.11) %
62.82 %
66.94 %
Adjusted efficiency ratio1
56.16
53.64
57.72
60.52
64.75
Full-time equivalent employees
2,913
2,917
2,883
2,947
2,949
Number of financial centers
221
222
223
223
222
Loans and Unfunded Loan CommitmentsTotal loans at the end of the first quarter of 2026 were $17.9 billion, up $440.7 million, or 10 percent annualized, compared to $17.5 billion at the end of the fourth quarter of 2025. The increase in total loans was driven by increases in commercial real estate, commercial and industrial, mortgage warehouse and agricultural portfolios, offset in part by a decrease in real estate construction. Unfunded loan commitments at the end of the first quarter of 2026 were $4.1 billion, compared to $3.9 billion at the end of the fourth quarter of 2025. The commercial loan pipeline totaled $1.6 billion at the end of the first quarter of 2026, and ready-to-close commercial loans totaled $651 million with a weighted average rate of 6.40 percent.
Loans and Unfunded Loan Commitments
$ in millions
1Q26
4Q25
3Q25
2Q25
1Q25
Total loans
$17,933
$17,492
$17,189
$17,111
$17,094
Unfunded loan commitments
4,068
3,871
3,955
3,947
3,888
Deposits and Other BorrowingsTotal deposits at the end of the first quarter of 2026 were $20.2 billion, up $19 million compared to the end of the fourth quarter of 2025. The increase in total deposits reflected a $214 million increase in interest bearing transaction accounts and savings accounts, offset primarily from the continued planned run-off of higher rate, non-relationship time deposits or subsequent reinvestment of maturing time deposits into lower cost deposits. The decrease in total deposits on a year-over-year basis primarily reflects a reduction of higher rate, non-relationship wholesale and public fund deposits as part of the balance sheet repositioning completed during the third quarter of 2025.
Other borrowings at the end of the first quarter of 2026 were $446.8 million, compared to $302.3 million at the end of the fourth quarter of 2025 and $884.9 million at the end of the first quarter of 2025. The decrease in other borrowings on a year-over-year basis reflected a reduction of higher cost wholesale funding, primarily FHLB advances, as part of the balance sheet repositioning completed during the third quarter of 2025.
Deposits
$ in millions
1Q26
4Q25
3Q25
2Q25
1Q25
Noninterest bearing deposits
$ 4,290
$ 4,330
$ 4,377
$ 4,468
$ 4,455
Interest bearing transaction accounts
10,667
10,453
10,289
10,532
10,621
Time deposits
3,334
3,508
3,331
3,588
3,695
Brokered deposits
1,912
1,893
1,841
3,237
2,914
Total deposits
$20,203
$20,184
$19,838
$21,825
$21,684
Noninterest bearing deposits to total deposits
21 %
21 %
22 %
20 %
21 %
Total loans to total deposits
89
87
87
78
79
Asset QualityProvision for credit losses on loans totaled $14.6 million for the first quarter of 2026, compared to $15.1 million in the fourth quarter of 2025 and $26.8 million in the first quarter of 2025. Net charge-offs as a percentage of average loans for the first quarter of 2026 were 21 basis points, compared to 112 basis points in the fourth quarter of 2025 and 23 basis points in the first quarter of 2025. Provision for credit losses on loans exceeded net charge-offs by $5.5 million during the first quarter of 2026 primarily as a result of strong loan growth during the quarter. The allowance for credit losses on loans at the end of the first quarter of 2026 was $229.9 million, compared to $224.4 million at the end of the fourth quarter of 2025 and $252.2 million at the end of the first quarter of 2025. The allowance for credit losses on loans as a percentage of total loans at the end of the first quarter of 2026 was 1.28 percent, unchanged from the end of the fourth quarter of 2025.
Total nonperforming loans at the end of the first quarter of 2026 totaled $141.9 million, compared to $112.7 million at the end of the fourth quarter of 2025 and $152.3 million at the end of the first quarter of 2025. The increase in nonperforming loans on a linked quarter basis was primarily due to a single real estate construction relationship that is well collateralized and that management believes has limited loss content. The nonperforming loan coverage ratio ended the first quarter of 2026 at 162 percent, compared to 199 percent at the end of the fourth quarter of 2025 and 165 percent at the end of the first quarter of 2025. Total nonperforming assets as a percentage of total assets were 63 basis points at the end of the first quarter of 2026, compared to 51 basis points at the end of the fourth quarter of 2025 and 61 basis points at the end of the first quarter of 2025.
Asset Quality
$ in millions
1Q26
4Q25
3Q25
2Q25
1Q25
Allowance for credit losses on loans to total loans
1.28 %
1.28 %
1.50 %
1.48 %
1.48 %
Allowance for credit losses on loans to nonperforming loans
162
199
168
161
165
Nonperforming loans to total loans
0.79
0.64
0.90
0.92
0.89
Net charge-off ratio (annualized)
0.21
1.12
0.25
0.25
0.23
Net charge-off ratio YTD (annualized)
0.21
0.47
0.24
0.24
0.23
Total nonperforming loans
$141.9
$112.7
$153.9
$157.2
$152.3
Total other nonperforming assets
12.6
12.4
6.8
9.5
10.0
Total nonperforming assets
$154.5
$125.1
$160.7
$166.7
$162.3
Reserve for unfunded commitments
$25.6
$25.6
$25.6
$25.6
$25.6
CapitalTotal stockholders' equity at the end of the first quarter of 2026 and fourth quarter of 2025 was $3.4 billion, compared to $3.5 billion at the end of the first quarter of 2025. Book value per share at the end of the first quarter of 2026 was $23.70, compared to $23.62 at the end of the fourth quarter of 2025 and $28.04 at the end of the first quarter of 2025. Tangible book value per share1 at the end of the first quarter of 2026 was $14.03, compared to $13.91 at the end of the fourth quarter of 2025 and $16.81 at the end of the first quarter of 2025. The increase in book value per share and tangible book value per share on a linked quarter basis was primarily due to a $37.4 million increase in undivided profits. The year-over-year decline in book value per share and tangible book value per share was primarily due to the balance sheet repositioning completed in the third quarter of 2025.
Total stockholders' equity as a percentage of total assets at the end of the first quarter of 2026 was 13.9 percent, unchanged from fourth quarter of 2025 levels and up from 13.2 percent at the end of the first quarter of 2025. Tangible common equity as a percentage of tangible assets1 was 8.7 percent at the end of the first quarter of 2026, unchanged from the fourth quarter of 2025 and up from 8.3 percent at the end of the first quarter of 2025. Each of the applicable regulatory capital ratios for Simmons and its principal subsidiary, Simmons Bank, continue to significantly exceed "well-capitalized" regulatory guidelines.
Select Capital Ratios
1Q26
4Q25
3Q25
2Q25
1Q25
Stockholders' equity to total assets
13.9 %
13.9 %
13.9 %
13.3 %
13.2 %
Tangible common equity to tangible assets1
8.7
8.7
8.5
8.5
8.3
Common equity tier 1 (CET1) ratio
11.6
11.6
11.5
12.4
12.2
Tier 1 leverage ratio
10.1
10.1
9.6
10.0
9.8
Tier 1 risk-based capital ratio
11.6
11.6
11.5
12.4
12.2
Total risk-based capital ratio
14.4
14.4
15.1
14.4
14.6
Share Repurchase Program During the first quarter of 2026, Simmons did not repurchase shares under its stock repurchase program that was authorized in February 2026 (2026 Program) and which replaced its former repurchase program that was authorized in January 2024. Remaining authorization under the 2026 Program as of March 31, 2026, was approximately $175 million. The timing, pricing and amount of any repurchases under the 2026 Program will be determined by Simmons' management at its discretion based on a variety of factors including, but not limited to, market conditions, trading volume and market price of Simmons' common stock, Simmons' capital needs, Simmons' working capital and investment requirements, other corporate considerations, economic conditions, and legal requirements. The 2026 Program does not obligate Simmons to repurchase any common stock and may be modified, discontinued or suspended at any time without prior notice.
___________________________________________
(1)
Non-GAAP measurement. See "Non-GAAP Financial Measures" and "Reconciliation of Non-GAAP Financial Measures" below
(2)
FTE, fully taxable equivalent basis using an effective tax rate of 26.135%
(3)
In this press release, "Adjusted Earnings" may also be referred to as "Adjusted Net Income"
Conference CallManagement will conduct a live conference call to review this information beginning at 7:30 a.m. Central Time on Friday, April 17, 2026. Interested persons can listen to this call by dialing toll-free 1-844-481-2779 (North America only) and asking for the Simmons First National Corporation conference call, conference ID 10207627. In addition, the call will be available live or in recorded version on Simmons' website at simmonsbank.com for at least 60 days following the date of the call.
Simmons First National CorporationSimmons First National Corporation (NASDAQ:SFNC) is a Mid-South based financial holding company that has paid cash dividends to its shareholders for 117 consecutive years. Its principal subsidiary, Simmons Bank, operates more than 220 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Recently, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks and Credit Unions 2026 and by Forbes as one of America's Best-In-State Companies 2026. In 2025, Simmons Bank was recognized by Newsweek as one of America's Greatest Workplaces 2025 in Arkansas and one of America's Best Regional Banks 2025, and by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X or by visiting our newsroom.
Non-GAAP Financial MeasuresThis press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures adjust GAAP performance measures to, among other things, include the tax benefit associated with revenue items that are tax-exempt, as well as exclude from net income (including on a per share diluted basis), pre-tax, pre-provision earnings, net charge-offs, income available to common shareholders, noninterest income, and noninterest expense certain income and expense items attributable to, for example, branch right sizing costs, early retirement program costs, termination of vendor and software services, FDIC Deposit Insurance special assessment, professional services and a loss on the sale of an equipment finance business.
In addition, the Company also presents certain figures based on tangible common stockholders' equity, tangible assets and tangible book value, which exclude goodwill and other intangible assets. The Company further presents certain figures that are exclusive of the impact of deposits and/or loans acquired through acquisitions, mortgage warehouse loans, and/or energy loans, or gains and/or losses on the sale of securities. The Company's management believes that these non-GAAP financial measures are useful to investors because they, among other things, present the results of the Company's ongoing operations without the effect of mergers or other items not central to the Company's ongoing business, as well as normalize for tax effects and certain other effects. Management, therefore, believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's ongoing businesses, and management uses these non-GAAP financial measures to assess the performance of the Company's ongoing businesses as related to prior financial periods. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the tables of this release.
Forward-Looking StatementsCertain statements in this press release may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, without limitation, statements made in Mr. Brogdon's quote, may be identified by reference to future periods or by the use of forward-looking terminology, such as "believe," "budget," "expect," "foresee," "anticipate," "intend," "indicate," "target," "estimate," "plan," "project," "continue," "contemplate," "positions," "prospects," "predict," or "potential," by future conditional verbs such as "will," "would," "should," "could," "might" or "may," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, statements relating to Simmons' future growth, business strategies, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, dividends, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, future economic conditions and interest rates, and the adequacy of reserve levels for loans. Any forward-looking statement speaks only as of the date of this press release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this press release. By nature, forward-looking statements are based on various assumptions and involve inherent risk and uncertainties. Various factors, including, but not limited to, changes in economic conditions, changes in credit quality, changes in interest rates and related governmental policies, the effects of a government shutdown, changes in loan demand, changes in deposit flows, changes in real estate values, changes in the assumptions used in making the forward-looking statements, changes in the securities markets generally or the price of Simmons' common stock specifically, changes in information technology affecting the financial industry, and changes in customer behaviors, including consumer spending, borrowing, and saving habits; changes in tariff policies; general economic and market conditions; changes in governmental administrations; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts in the Middle East and between Russia and Ukraine) or other major events, or the prospect of these events; the soundness of other financial institutions and any indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners, or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships; increased inflation; the loss of key employees; increased competition in the markets in which the Company operates and from non-bank financial institutions; increased unemployment; labor shortages; claims, damages, and fines related to litigation or government actions; changes in accounting principles relating to loan loss recognition (current expected credit losses); fraud that results in material losses or that we have not discovered yet that may result in material losses; the Company's ability to manage and successfully integrate its mergers and acquisitions and to fully realize cost savings and other benefits associated with acquisitions; increased delinquency and foreclosure rates on commercial real estate loans; significant increases in nonaccrual loan balances; cyber or other information technology threats, attacks or events; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase cybersecurity threats; reliance on third parties for key services; government legislation; and other factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those projected in or contemplated by the forward-looking statements. In addition, there can be no guarantee that the board of directors (Board) of Simmons will approve a quarterly dividend in future quarters, and the timing, payment, and amount of future dividends (if any) is subject to, among other things, the discretion of the Board and may differ significantly from past dividends. Additional information on factors that might affect the Company's financial results is included in the Company's Form 10-K for the year ended December 31, 2025, and other reports that the Company has filed with or furnished to the U.S. Securities and Exchange Commission (the SEC), all of which are available from the SEC on its website, www.sec.gov.
Simmons First National Corporation
SFNC
Consolidated End of Period Balance Sheets
For the Quarters Ended
Mar 31
Dec 31
Sep 30
Jun 30
Mar 31
(Unaudited)
2026
2025
2025
2025
2025
($ in thousands)
ASSETS
Cash and noninterest bearing balances due from banks
$ 342,603
$ 380,439
$ 377,604
$ 398,081
$ 423,171
Interest bearing balances due from banks and federal funds sold
205,880
331,474
266,013
246,381
211,115
Cash and cash equivalents
548,483
711,913
643,617
644,462
634,286
Interest bearing balances due from banks - time
100
100
100
100
100
Investment securities - held-to-maturity
-
-
-
3,591,531
3,615,556
Investment securities - available-for-sale
3,152,286
3,266,221
3,319,277
2,405,320
2,491,849
Mortgage loans held for sale
14,311
17,438
15,507
16,972
8,351
Assets held in trading accounts
14,543
11,685
12,695
-
-
Loans:
Loans
17,932,883
17,492,179
17,188,817
17,111,096
17,094,078
Allowance for credit losses on loans
(229,908)
(224,377)
(258,006)
(253,537)
(252,168)
Net loans
17,702,975
17,267,802
16,930,811
16,857,559
16,841,910
Premises and equipment
557,873
561,220
568,343
573,160
573,616
Foreclosed assets and other real estate owned
12,475
12,009
6,386
8,794
8,976
Interest receivable
101,557
104,062
104,383
120,443
117,398
Bank owned life insurance
542,486
540,001
539,372
535,481
535,324
Goodwill
1,320,799
1,320,799
1,320,799
1,320,799
1,320,799
Other intangible assets
81,325
84,423
87,520
90,617
93,714
Other assets
643,570
643,204
659,352
528,382
551,112
Total assets
$ 24,692,783
$ 24,540,877
$ 24,208,162
$ 26,693,620
$ 26,792,991
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest bearing transaction accounts
$ 4,289,697
$ 4,330,211
$ 4,377,232
$ 4,468,237
$ 4,455,255
Interest bearing transaction accounts and savings deposits
11,311,979
11,141,169
10,932,914
11,176,791
11,265,554
Time deposits
4,601,107
4,712,658
4,527,587
6,179,962
5,963,811
Total deposits
20,202,783
20,184,038
19,837,733
21,824,990
21,684,620
Federal funds purchased and securities sold
under agreements to repurchase
8,708
21,383
22,348
31,306
50,133
Other borrowings
446,756
302,253
18,832
634,349
884,863
Subordinated notes and debentures
315,700
317,714
648,976
366,369
366,331
Accrued interest and other liabilities
281,102
296,249
326,310
287,396
275,559
Total liabilities
21,255,049
21,121,637
20,854,199
23,144,410
23,261,506
Stockholders' equity:
Common stock
1,451
1,448
1,447
1,260
1,259
Surplus
2,848,952
2,846,581
2,848,977
2,518,286
2,515,372
Undivided profits
901,696
864,341
817,022
1,410,564
1,382,564
Accumulated other comprehensive (loss) income
(314,365)
(293,130)
(313,483)
(380,900)
(367,710)
Total stockholders' equity
3,437,734
3,419,240
3,353,963
3,549,210
3,531,485
Total liabilities and stockholders' equity
$ 24,692,783
$ 24,540,877
$ 24,208,162
$ 26,693,620
$ 26,792,991
Simmons First National Corporation
SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended
Mar 31
Dec 31
Sep 30
Jun 30
Mar 31
(Unaudited)
2026
2025
2025
2025
2025
($ in thousands, except per share data)
INTEREST INCOME
Loans (including fees)
$ 267,287
$ 270,868
$ 269,210
$ 265,373
$ 257,755
Interest bearing balances due from banks and federal funds sold
2,320
2,485
6,421
2,531
2,703
Investment securities
31,882
33,833
37,464
46,898
47,257
Mortgage loans held for sale
203
227
229
221
122
Assets held in trading accounts
122
118
99
-
-
TOTAL INTEREST INCOME
301,814
307,531
313,423
315,023
307,837
INTEREST EXPENSE
Time deposits
39,949
41,989
49,064
57,231
62,559
Other deposits
57,653
60,516
67,546
69,108
67,895
Federal funds purchased and securities
sold under agreements to repurchase
36
57
72
59
113
Other borrowings
1,746
2,138
2,957
10,613
7,714
Subordinated notes and debentures
5,262
5,535
7,123
6,188
6,134
TOTAL INTEREST EXPENSE
104,646
110,235
126,762
143,199
144,415
NET INTEREST INCOME
197,168
197,296
186,661
171,824
163,422
PROVISION FOR CREDIT LOSSES
Provision for credit losses on loans
14,622
15,116
15,180
11,945
26,797
Provision for credit losses on investment securities - HTM
-
-
(3,214)
-
-
TOTAL PROVISION FOR CREDIT LOSSES
14,622
15,116
11,966
11,945
26,797
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES
182,546
182,180
174,695
159,879
136,625
NONINTEREST INCOME
Service charges on deposit accounts
12,656
12,669
13,045
12,588
12,635
Debit and credit card fees
8,503
8,660
8,478
8,567
8,446
Wealth management fees
10,533
10,337
9,965
9,464
9,629
Mortgage lending income
1,854
2,232
2,259
1,687
2,013
Bank owned life insurance income
4,218
3,942
3,943
3,890
4,092
Other service charges and fees (includes insurance income)
1,606
1,503
1,474
1,321
1,333
Gain (loss) on sale of securities
-
-
(801,492)
-
-
Other income
4,827
12,365
6,141
4,837
8,007
TOTAL NONINTEREST INCOME
44,197
51,708
(756,187)
42,354
46,155
NONINTEREST EXPENSE
Salaries and employee benefits
75,885
72,924
76,249
73,862
74,824
Occupancy expense, net
12,218
11,636
12,106
11,844
12,651
Furniture and equipment expense
5,423
5,304
5,275
5,474
5,465
Other real estate and foreclosure expense
315
432
200
216
198
Deposit insurance
2,295
4,736
5,175
4,917
5,391
Other operating expenses
44,537
44,830
43,027
42,276
46,051
TOTAL NONINTEREST EXPENSE
140,673
139,862
142,032
138,589
144,580
NET INCOME (LOSS) BEFORE INCOME TAXES
86,070
94,026
(723,524)
63,644
38,200
Provision for income taxes
17,526
15,948
(160,732)
8,871
5,812
NET INCOME (LOSS)
$ 68,544
$ 78,078
$ (562,792)
$ 54,773
$ 32,388
BASIC EARNINGS PER SHARE
$ 0.47
$ 0.54
$ (4.01)
$ 0.43
$ 0.26
DILUTED EARNINGS PER SHARE
$ 0.47
$ 0.54
$ (4.00)
$ 0.43
$ 0.26
Simmons First National Corporation
SFNC
Consolidated Risk-Based Capital
For the Quarters Ended
Mar 31
Dec 31
Sep 30
Jun 30
Mar 31
(Unaudited)
2026
2025
2025
2025
2025
($ in thousands)
Tier 1 capital
Stockholders' equity
$ 3,437,734
$ 3,419,240
$ 3,353,963
$ 3,549,210
$ 3,531,485
Disallowed intangible assets, net of deferred tax
(1,370,562)
(1,374,839)
(1,376,255)
(1,379,104)
(1,381,953)
Unrealized loss (gain) on AFS securities
314,365
293,130
313,483
380,900
367,710
Total Tier 1 capital
2,381,537
2,337,531
2,291,191
2,551,006
2,517,242
Tier 2 capital
Subordinated notes and debentures
315,700
317,714
648,976
366,369
366,331
Subordinated debt phase out
-
-
(198,000)
(198,000)
(132,000)
Qualifying allowance for loan losses and
reserve for unfunded commitments
255,537
250,006
248,710
258,079
257,769
Total Tier 2 capital
571,237
567,720
699,686
426,448
492,100
Total risk-based capital
$ 2,952,774
$ 2,905,251
$ 2,990,877
$ 2,977,454
$ 3,009,342
Risk weighted assets
$ 20,565,445
$ 20,106,493
$ 19,861,879
$ 20,646,324
$ 20,621,540
Adjusted average assets for leverage ratio
$ 23,487,513
$ 23,224,638
$ 23,963,356
$ 25,606,135
$ 25,619,424
Ratios at end of quarter
Equity to assets
13.92 %
13.93 %
13.85 %
13.30 %
13.18 %
Tangible common equity to tangible assets (1)
8.74 %
8.71 %
8.53 %
8.46 %
8.34 %
Common equity Tier 1 ratio (CET1)
11.58 %
11.63 %
11.54 %
12.36 %
12.21 %
Tier 1 leverage ratio
10.14 %
10.06 %
9.56 %
9.96 %
9.83 %
Tier 1 risk-based capital ratio
11.58 %
11.63 %
11.54 %
12.36 %
12.21 %
Total risk-based capital ratio
14.36 %
14.45 %
15.07 %
14.42 %
14.59 %
(1) Calculations of tangible common equity to tangible assets and the reconciliations to GAAP are included in the schedules accompanying this release.
Simmons First National Corporation
SFNC
Consolidated Investment Securities
For the Quarters Ended
Mar 31
Dec 31
Sep 30
Jun 30
Mar 31
(Unaudited)
2026
2025
2025
2025
2025
($ in thousands)
Investment Securities - End of Period
Held-to-Maturity
U.S. Government agencies
$ -
$ -
$ -
$ 457,228
$ 456,545
Mortgage-backed securities
-
-
-
1,024,313
1,048,170
State and political subdivisions
-
-
-
1,855,614
1,856,905
Other securities
-
-
-
254,376
253,936
Total held-to-maturity (net of credit losses)
-
-
-
3,591,531
3,615,556
Available-for-Sale
