Original source text
, /PRNewswire/ --FINANCIAL HIGHLIGHTS
3Q26
2Q26
3Q25
3Q26 Highlights
INCOME STATEMENT SUMMARY (in millions)
Comparisons reflect 3Q26 vs 2Q26 unless otherwise noted
Net income of $47.1 million and diluted EPS of $0.32
Adjusted net 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.
SOURCE Simmons First National Corporation