Market Signal Briefing

LIVINGSTON, N.J.--(BUSINESS WIRE)--CoreWeave (Nasdaq: CRWV), The Essential Cloud for AI, today announced the appointment of Jon Jones as its first Chief Revenue Officer (CRO). Jon Jones will lead the company’s global revenue organization with a focus on scaling products and sales for the next chapter of CoreWeave’s growth.

A recognized AI industry leader, Jon Jones is a seasoned technology executive, with more than two decades of leadership experience during periods of major business expansion and transformation. A native of Silicon Valley, Jon Jones has held roles from start-up founder to enterprise executive leadership. At Amazon, he recently served as Global Head of Startups and Venture Capital, and previously as Vice President of Go-to-Market, Products & Services. He was responsible for global service expansion from pre-product launch to scale-out with a focus on AI innovation and cloud adoption.

Jon Jones joins a highly accomplished revenue organization, established by Max Hjelm who built a strong Go-To-Market team that has propelled CoreWeave to its current market position as the essential cloud for AI, purpose-built for the scale, performance and expertise required to power AI innovation.

“We are in a moment of hypergrowth and expanding our leadership team with our first CRO will enable us to meet the scale and complexity of the opportunities ahead,” said Michael Intrator, Co-Founder, Chairman and Chief Executive Officer of CoreWeave. “What makes Jon Jones’s appointment especially exciting is that he brings a valuable blend of expertise to an exceptional team that is committed to best-in-class experiences for our customers. The scale of AI adoption demands entirely new products and services, and with Jon Jones on board, we are well positioned to extend our leadership as the platform of choice for AI innovation and adoption.”

“I’m thrilled to join CoreWeave at such an important moment,” said Jon Jones, Chief Revenue Officer of CoreWeave. “AI adoption is advancing at an extraordinary pace, and lasting success depends on pairing world-class technology with the right go-to-market strategy to move new ideas from inception to implementation and scale-out. CoreWeave is the AI platform of choice, and I’m excited to work with Max, Mike, and the entire team to help lead the business into its next stage of growth.”

The world’s leading AI labs and enterprises choose CoreWeave to power their breakthroughs. The company continues to grow rapidly, expanding its platform both organically and through acquisitions. Recent additions such as Weights & Biases, OpenPipe, and Monolith strengthen CoreWeave’s strategy to deepen vertical integration up its technology stack, giving customers greater flexibility to train, adapt and optimize their AI models.

The company supports independent founders and startups shaping the AI ecosystem through CoreWeave Ventures, an investment initiative that provides resources including direct capital investment, compute-for-equity transactions and technical collaboration to accelerate the next frontier of computing.

About CoreWeave

CoreWeave is The Essential Cloud for AI™. Built for pioneers by pioneers, CoreWeave delivers a platform of technology, tools, and teams that enables innovators to move at the pace of innovation, building and scaling AI with confidence. Trusted by leading AI labs, startups, and global enterprises, CoreWeave serves as a force multiplier by combining superior infrastructure performance with deep technical expertise to accelerate breakthroughs. Established in 2017, CoreWeave completed its public listing on Nasdaq (CRWV) in March 2025. Learn more at www.coreweave.com.

, /PRNewswire/ -- CVS Health (NYSE: CVS) today announced it will support simpler access to more affordable fertility treatments for all Americans through its CVS Specialty Pharmacy and make it easier to pick up fertility medication at its 9,000 community pharmacy locations.

CVS Specialty Pharmacy will be a core partner in the TrumpRx Fertility program. As the Trump Administration continues to establish more competitive prices for important medicines, the Administration has engaged with EMD Serono, manufacturer of Gonal-F an in-vitro fertilization (IVF) drug to bring the price of the medicine down by 84%. 

CVS Specialty Pharmacy has a team of dedicated specialist pharmacists focused on fertility treatments, helping people use treatments safely and effectively. In addition, CVS Specialty Pharmacy will help people understand their fertility benefit and assess their financial options.

"Fertility medications often require special administration and high-touch expertise. We are proud to join the President to help make every step of the journey as simple as possible for families by providing nationwide access," said Lucille Accetta, RPh, Senior Vice President and Chief Pharmacy Officer, CVS Health. "We are committed to being America's most trusted health care company as we strive to continually improve affordability and access to medicine for families everywhere.

"We are uniquely built to help deliver solutions like this with our clinical specialization, convenient locations, and ability to help people navigate to the lowest possible cost. As the Administration looks to provide more affordable fertility treatments to all Americans, CVS Specialty has the expertise in fertility and the industry relationships to deliver on the promise of the TrumpRx solution."

Today's announcement represents another example of how CVS Health is expanding affordability for customers by leveraging its strengths in pharmacy and improving access through multiple delivery channels in healthcare, as CVS Health also done with GLP-1 drugs.

When will the TrumpRx Fertility program be available?

We anticipate the program will be available in January 2026. As we near the launch date, we will provide additional information on how to use the platform to access fertility medicines.

What drugs are included in TrumpRx Fertility program? 

Gonal-F will offer a more competitive price on the TrumpRx platform. Because the program will not launch until 2026, there may be changes to which drugs and which manufacturers will support competitive cash rates through this platform. 

What are the benefits for patients?

Because there is often and urgency to fertility cycles, such as IVF, this program will expedite the pharmacy process for patients needing to access IVF medications. Rather than pharmacy shopping, the patient can access one set price for Gonal-F through the TrumpRx Fertility program. 

How does CVS Specialty Pharmacy help families?

CVS Specialty Pharmacy works closely with families, doctors, and insurance plans from the start. You can count on us for:

Complimentary pre-verification: We'll review your medication plan to verify what's covered before you start, so you and your doctor can make the best financial choice.
Financial assistance: If you don't have fertility medication benefits, we'll help you find out if you're eligible for immediate savings.
Claims support: We'll file your insurance claims for you and help make sure you get the most from your fertility coverage while minimizing your costs.

Just like your doctor is a specialist in fertility treatment, we're specialists in fertility treatment medications and we offer more personalized support. We can:

Advise on correct therapy usage
Help manage side effects
Assist with injection-related issues
Coordinate care with your doctor
Answer your questions
Arrange egg donor therapy medications

Our pharmacists are dedicated to fertility treatment, so you'll have support and guidance from specialists who help people through it every day. Your pharmacist-led CareTeam takes an active role in your care to make sure you have the help you need day and night. You can depend on us to make it all simpler for you.

Most specialty pharmacies only deliver, but with CVS Specialty Pharmacy, we make it as convenient as possible to get the fertility medications and supplies you need when you need them. We can have your medications available for pickup at any CVS Pharmacy, or your medicine can be delivered to your door. Choose the convenience of having your medication delivered by mail to your home, office, doctor's office or even a temporary address if you're traveling.

We offer next-day service at no additional cost. It's one more way we help you stay on track with your treatment. Medication is delivered in discreet, temperature-controlled packaging.

About CVS Health

CVS Health is a leading health solutions company building a world of health around every consumer, wherever they are. As of June 30, 2025, the Company had approximately 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care medical clinics, and a leading pharmacy benefits manager with approximately 87 million plan members. The Company also serves an estimated more than 37 million people through traditional, voluntary and consumer-directed health insurance products and related services, including highly rated Medicare Advantage offerings and a leading standalone Medicare Part D prescription drug plan. The Company's integrated model uses personalized, technology driven services to connect people to simply better health, increasing access to quality care, delivering better outcomes, and lowering overall costs.

David Whitrap
Vice President, External Affairs
CVS Health
857-523-1219
[email protected]

SOURCE CVS Health

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TORONTO, ON / ACCESS Newswire / October 16, 2025 / Scarcity gets a bad rap in business. Most companies treat it like a handicap.

, /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with losses related to Nutex Health Inc. ("Nutex" or the "Company") (NASDAQ: NUTX) have opportunity to lead the securities fraud class action lawsuit.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN NUTEX HEALTH INC. (NUTX), CLICK HERE BEFORE OCTOBER 21, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

What Is The Lawsuit About? 
The complaint filed alleges that, between August 8, 2024 and August 14, 2025, Defendants failed to disclose to investors that: (1) HaloMD was achieving lucrative arbitration results for Nutex by engaging in a coordinated scheme to defraud insurance companies; (2) as a result, to the extent that they were the product of fraudulent conduct, revenues attributable to the Company's engagement with HaloMD in the IDR process were unsustainable; (3) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting; (4) as a result, the Company was unable to effectively account for the treatment of certain of its stock based compensation obligations; (5) as a result, Nutex improperly calculated these stock based compensation obligations as equity rather than liabilities; (6) the foregoing increased the risk that the Company would be unable to timely file certain financial reports with the SEC; (7) accordingly, Nutex's business and/or financial prospects were overstated; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
The Law Offices of Frank R. Cruz,
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact Us:

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz,
Telephone: 310-914-5007
Email: [email protected]
Visit our website at: www.frankcruzlaw.com

SOURCE The Law Offices of Frank R. Cruz, Los Angeles

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NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Simulations Plus, Inc. (NASDAQ: SLP) resulting from allegations that Simulations Plus may have issued materially misleading business information to the investing public.

So What: If you purchased Simulations Plus securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=42476 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On July 15, 2025, during market hours, Benzinga published an article entitled “Simulations Plus Sees Weaker Demand Persist, Outlook Softens.” The article stated that Simulations Plus shares had declined “following the release of [Simulations Plus’] third-quarter 2025 earnings report.” The article stated that Simulations Plus had reported sales of $20.4 million, representing a 10% year-over-year increase, but this fell short of the consensus estimate of $20.9 million.” Further, “[t]his miss followed preliminary third-quarter sales figures released in June, which were already lower than expectations at $19 million to $20 million, compared to a consensus of $22.78 million.”

On this news, the price of Simulations Plus stock fell 25.75% on July 15, 2025.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

More News From The Rosen Law Firm, P.A.

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Contract Expands Federal Access to Secure Communications and Zero-Trust Cybersecurity Solutions

ZEPHYR COVE, Nev.--(BUSINESS WIRE)--VirnetX Holding Corporation (Nasdaq: VHC), a global leader in secure communications and zero-trust cybersecurity solutions, today announced that it has been officially awarded a General Services Administration Multiple Award Schedule contract (the “GSA Schedule”). This designation makes VirnetX an approved technology provider for federal, state, and local government agencies seeking mission-critical cybersecurity, secure communications, and digital-engineering capabilities under pre-negotiated terms and pricing.

The GSA Schedule is a long-term government-wide contract vehicle that simplifies procurement for U.S. agencies, offering streamlined access to innovative, compliant, and cost-effective technologies. VirnetX’s inclusion on the GSA Schedule reflects the company’s demonstrated track record of innovation, security, and compliance excellence, positioning it to collaborate on defense initiatives, bid on government contracts and support the Department of War, intelligence community, and other government agencies in advancing resilient, zero-trust mission environments.

The award marks another milestone in VirnetX’s strategic evolution toward government and defense partnerships, building upon its recent security accreditations and expansion into its Digital Engineering and Cyber Threat Intelligence services. Through its GSA Schedule contract, VirnetX will deliver its federal customers enhanced access to its patented technologies, including the VirnetX Matrix® and War Room® platforms, which are designed to secure real-time communications, collaboration, and command and control networks across multi-domain environments.

“Being awarded a GSA Schedule contract is a major step forward for VirnetX,” said Kendall Larsen, CEO and President of VirnetX. “It validates our commitment to delivering trusted, cybersecurity solutions to government agencies seeking unbreachable, managed attribution technology. This achievement expands our ability to rapidly support the government’s digital modernization efforts, from secure communications to battle management solutions that help protect critical infrastructure and national interests.”

About VirnetX

VirnetX Holding Corporation is an Internet security software and technology company specializing in patented Zero Trust Network Access (“ZTNA”) for secure network communications. The company’s solutions, including its Secure Domain Name Registry and its flagship platform, VirnetX One™, and products like War Room™ and VirnetX Matrix™, are designed to be device and location independent and enable secure, real-time communication environments for U.S. defense, intelligence, and government agencies, as well as enterprise applications and critical infrastructure. The company also offers Digital Engineering services that align with defense strategies, including its comprehensive Cyber Threat Intelligence and assessment services and Model-Based System Engineering processes. For more information, please visit www.virnetx.com.

Special Note Regarding Forward-Looking Statements

This press release should be read in conjunction with our filings with the Securities and Exchange Commission. Statements herein may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations regarding our expansion in the defense sector and becoming a dedicated partner of the U.S. Department of War and intelligence communities, the impact of receiving government certifications, as well as our opportunities to participate in classified projects, collaborate on defense initiatives and bid on governments contracts. Any statement that is not historical in nature is a forward- looking statement and may be identified by the use of words and phrases such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result in,” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K, filed on March 17, 2025. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made.

EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

New York, NY, Oct. 16, 2025 (GLOBE NEWSWIRE) -- The Capital Link today announced the publication of a new independent analysis examining LuxUrban Hotels Inc.’s compliance with New York State and City sales and occupancy tax requirements. The report, titled “They Got It Wrong,” reviews statutory law, audited filings, and relevant enforcement records covering the period 2020–2025.

The Capital Link’s analysis finds that LuxUrban’s New York tax position is consistent with applicable state and city law and enforcement outcomes. In particular, the report highlights that a substantial portion of taxable transactions were processed and remitted through third-party online travel agencies (OTAs), which—under New York law—are often responsible for collecting and remitting sales and occupancy taxes. The analysis further notes that LuxUrban’s filings and the City of New York’s settlement records are consistent with compliance and do not support recent claims of large unpaid-tax liabilities.

“Our objective is to bring clarity to a technical but important issue: whether the law, filings, and enforcement records support claims of significant unpaid taxes,” said a Capital Link spokesperson. “The independent evidence indicates compliance and suggests that some public narratives have overstated potential liabilities.”

The report also discusses the broader implications for hospitality tax reporting and investor information, stressing the importance of careful interpretation of filings and enforcement actions.

The full report, “They Got It Wrong: A Legal and Financial Analysis of LuxUrban Hotels’ Sales-Tax Compliance in New York,” is available at:
https://thecapitallink.com/reports/luxurban-tax-analysis

About The Capital Link
The Capital Link is an independent research firm delivering legal, financial, and policy analysis for investors, policymakers, and the public.

NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of America's Car-Mart, Inc. (NASDAQ: CRMT) resulting from allegations that America's Car-Mart, Inc. may have issued materially misleading business information to the investing public. So What: If you purchased America's Car-Mart, Inc. securities you may be entitled to compensation without payment of any out of pocket fees or costs.

NEW YORK, Oct. 16, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of V.F. Corporation (NYSE: VFC) between October 30, 2023 and May 20, 2025, both dates inclusive (the “Class Period”), of the important November 12, 2025 lead plaintiff deadline.

SO WHAT: If you purchased V.F. Corporation securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the V.F. Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=44811 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 12, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants disseminated materially false and misleading statements and/or concealed material adverse facts concerning the true state of V.F. Corporation’s turnaround plans. Specifically, defendants provided investors with material information concerning V.F. Corporation’s turnaround plan (“Reinvent”), which in part focused on efforts to return the Vans brand to positive growth. The lawsuit alleges that defendants concealed that additional significant reset actions would be necessary to return the Vans brand to growth, and would result in significant setbacks to Vans’ revenue growth trajectory. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the V.F. Corporation class action, go to https://rosenlegal.com/submit-form/?case_id=44811 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In CVS (CVS) To Contact Him Directly To Discuss Their Options

If you are a long-term stockholder in CVS between May 3, 2023 and April 30, 2024 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Marion Passmore directly at (212) 355-4648.

NEW YORK, Oct. 16, 2025 (GLOBE NEWSWIRE) --

What’s Happening:

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against CVS Health Corporation (NYSE:CVS) on behalf of long-term stockholders following a class action complaint that was filed against CVS on July 12, 2024 with a Class Period from May 3, 2023 and April 30, 2024. Our investigation concerns whether the board of directors of CVS have breached their fiduciary duties to the company.
Details:

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company’s forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; (iv) contrary to Defendants’ assurances, the revenues generated from the Company’s other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.On August 2, 2023, CVS issued a press release announcing the Company’s results for the quarter ended June 30, 2023, which revealed that the Company was revising its diluted earnings-per-share (“EPS”) guidance range to $6.53 to $6.75 from $6.90 to $7.12. In a Quarterly Report filed on Form 10-Q the United States Securities and Exchange Commission (“SEC”) that same day, CVS stated that operating income, which has a direct impact on EPS, “decreased $1.4 billion, or 30.7%, in the three months ended June 30, 2023 compared to the prior year primarily due to declines in the Health Care Benefits segment[.]”On this news, CVS’s stock price fell $2.04 per share, or 2.73%, to close at $72.32 per share on August 3, 2023.Then, on November 1, 2023, CVS issued a press release announcing the Company’s results for the quarter ended September 30, 2023, which revealed that the Company was again reducing its diluted EPS guidance range to $6.37 to $6.61 from $6.53 to $6.75. In a Quarterly Report filed on Form 10-Q with the SEC that same day, CVS stated that while operating income increased “in the nine months ended September 30, 2023 compared to the prior year [. . .] [t]hese increases in operating income were partially offset by declines in the Health Care Benefits segment.”Then, on February 7, 2024, CVS issued a press release announcing the Company’s results for the year ended December 31, 2023 which revealed that the Company was revising its diluted EPS guidance range to at least $7.06 from at least $7.26, its adjusted EPS guidance range to at least $8.30 from at least $8.50, and its cash flow from operations guidance to at least $12.0 billion from at least $12.5 billion. In an Annual Report filed on Form 10-K with the SEC that same day reporting the Company’s financial and operational results for the year ended December 31, 2023, CVS stated that, while operating income increased in 2023 compared to 2022, “[t]hese increases in operating income were partially offset by declines in the Health Care Benefits segment.” Moreover, in a conference call held with investors and analysts that same day to discuss the Company’s 2023 results, CVS’s Chief Financial Officer Defendant Thomas F. Cowhey stated, in relevant part, “we now expect adjusted operating income for the Healthcare Benefit segment to be at least $5.4 billion, a decrease of $370 million from our prior estimates.”On this news, CVS’s stock price fell $0.96 per share, or 1.27%, to close at $74.36 per share on February 8, 2024.Finally, on May 1, 2024, CVS issued a press release reporting its results for the quarter ended March 31, 2024 and revising its full-year 2024 guidance. Among other items, CVS reported $88.4 billion in revenue, missing expectations of $89 billion. The Company stated that higher utilization of healthcare services, meaning more insurance dollars spent, weighed on its results in addition to Medicare reimbursement rate cuts that will continue to pressure CVS for the remainder of the year. Accordingly, CVS issued revised full-year 2024 guidance, including “[r]evised GAAP diluted EPS guidance to at least $5.64 from at least $7.06”; “[r]evised Adjusted EPS guidance to at least $7.00 from at least $8.30”; and “[r]evised cash flow from operations guidance to at least $10.5 billion from at least $12.0 billion”. Further, in a Quarterly Report filed on Form 10-Q with the SEC that same day, CVS stated that operating income decreased $1.2 billion, or 34.1% “in in the three months ended March 31, 2024, primarily due to increased Medicare utilization, the unfavorable impact of the previously disclosed decline in the Company’s 2024 Medicare Advantage star ratings and a year-over-year unfavorable impact from development of prior-years’ health care cost estimates in the Health Care Benefits segment.”On this news, CVS’s stock price fell $11.40 per share, or 16.84%, to close at $56.31 per share on May 1, 2024. Next Steps:

If you are a long-term stockholder of CVS, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

October 16, 2025 17:24 ET

 | Source:

Targa Resources Corp.

HOUSTON, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its board of directors has declared a quarterly cash dividend of $1.00 per common share, or $4.00 per common share on an annualized basis, for the third quarter of 2025. This cash dividend will be paid November 17, 2025 on all outstanding common shares to holders of record as of the close of business on October 31, 2025.

The Company will report its third quarter 2025 financial results before the market opens for trading on Wednesday, November 5, 2025, and will host a live webcast at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its 2025 third quarter financial results.

Event Information
Event: Targa Resources Corp. Third Quarter 2025 Earnings Webcast and Presentation
Date: Wednesday, November 5, 2025
Time: 11:00 a.m. Eastern Time
Webcast: www.targaresources.com under "Events and Presentations" or directly at https://edge.media-server.com/mmc/p/ib9g4uey.

Replay Information 
A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A quarterly earnings supplement presentation and updated investor presentation will also be available under Events and Presentations in the Investors section of the Company’s website prior to the start of the conference call, or directly at https://www.targaresources.com/investors/events.

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks.

Targa is a FORTUNE 500 company and is included in the S&P 500.

For more information, please visit the Company’s website at www.targaresources.com.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance, capital spending, and payment of future dividends. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, actions taken by other countries with significant hydrocarbon production, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, changes in laws and regulations, particularly with regard to taxes, tariffs and international trade, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Targa Investor Relations
[email protected]
(713) 584-1133

October 16, 2025 17:30 ET

 | Source:

DPM Metals Inc.

TORONTO, Oct. 16, 2025 (GLOBE NEWSWIRE) -- DPM Metals Inc. (TSX: DPM, ASX: DPM) (ARBN: 689370894) (“DPM” or “the Company”) announces that, as a result of a review (the “Review”) of the existing technical report on the Vareš Mine by staff of the Ontario Securities Commission (the “OSC”), the Company is issuing the following news release regarding disclosure on the Vareš Mine.

In connection with the Review, the Company has amended and refiled the technical report entitled “NI 43-101 Technical Report on the Vareš Mine, Bosnia and Herzegovina” with an effective date of April 1, 2025, and an issue date of June 9, 2025 (the “Vareš Technical Report”).

The revisions to the Vareš Technical Report consist of the following: (i) removing the disclosure whereby a minor amount of inferred mineral resources was included in the mining shapes constituting the mineral reserves and associated non-material incidental revisions to the mineral reserve statement and economic analysis section; and (ii) replacing the author taking responsibility for Items 16.1 and 26.2 in the Vareš Technical Report, Mr. Michael Di Giovinazzo, MAusIMM, with Neil Marshall, MIMMM, due to Mr. Di Giovinazzo not meeting the designation required to act as a “qualified person”, as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The amended and restated Vareš Technical Report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca, and on the Company’s website at www.dpmmetals.com.

Sabine Anderson is independent of the Company and the qualified person, as defined in NI 43-101, that has received and approved the technical information contained in this news release.

About DPM Metals Inc.

DPM Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM’s trades on the Toronto Stock Exchange (symbol: DPM) and the Australian Securities Exchange as a Foreign Exempt Listing (symbol: DPM).

For further information please contact:

Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
[email protected]

Cautionary Note 
DPM is not required to report on minerals exploration results, mineral resources and ore reserves in accordance with Chapter 5 of the ASX Listing Rules or the JORC Code 2012 due to DPM’s Foreign Exempt Listing on the ASX. DPM’s mineral reserves and mineral resources are prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum—Definition Standards adopted by the CIM Council on 10 May 2014, as required by Canadian securities regulatory authorities, which may differ from the requirements of the ASX Listing Rules and the JORC Code 2012.

LAS VEGAS, Oct. 16, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its newest community, The Loughton, is coming soon to Las Vegas, Nevada. This exclusive, gated Toll Brothers neighborhood within the Summerlin master plan will include a variety of two-story condominium home designs with an array of onsite amenities. Site work is underway, and the community is anticipated to open for sale later this fall 2025.

The Loughton will offer residents low-maintenance living with distinctive, personalized homes within the Summerlin master plan. Ranging up to 1,370 square feet, a selection of two-story home designs featuring 1 to 2 bedrooms, 1 to 2.5 baths, attached or detached 1- to 2-car garages, and rooftop terraces and lofts in select plans. Condominium homes at The Loughton will be priced from the low $500,000s.

Residents will enjoy an abundance of Summerlin master-plan amenities, including a vast trail network, parks, golf, and sports courts. In addition, Toll Brothers homeowners will enjoy a private community pool, pickleball court, barbecue area, and open spaces. The community offers low-maintenance, lock-and-leave living with easy access to nearby retail and entertainment, including vibrant shopping and casual and fine dining in downtown Summerlin and at Red Rock Casino Resort and Spa.

“The Loughton community will offer residents the rare opportunity to build a new construction condo within walking distance to the spectacular amenities and downtown of the well-established and highly desirable Summerlin area,” said Janet Love, Division President of Toll Brothers in Las Vegas. “With gracefully scaled, open floor plans and unrivaled personalization options through the Toll Brothers Design Studio experience, this gated community will set a new standard for low-maintenance luxury living in Las Vegas.”

Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows customers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.

The community will be located at Charleston and Interstate 215 in Las Vegas. For more information and to join Toll Brothers interest list for The Loughton, call (855) 700-8655 or visit TollBrothers.com/LasVegas.

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 58 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

Toll Brothers has been one of Fortune magazine's World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license.

Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | [email protected]

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/eee5da14-4b8c-4146-896c-9620797e9aea

https://www.globenewswire.com/NewsRoom/AttachmentNg/201cbc21-7ae7-4875-be66-946213d7704c

Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

October 16, 2025 4:28 PM EDT | Source: Portofino Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2025) - PORTOFINO RESOURCES INC. (TSXV: POR) (OTC Pink: PFFOF) (FSE: POTA) ("Portofino" or the "Company") is applying to the TSX Venture Exchange for a two-year extension of 21,875,000 common share purchase warrants exercisable at $0.10. 13,000,000 warrants are set to expire on November 03rd, 2025 and 8,875,000 warrants set to expire on November 29th, 2025.

Both sets of warrants are currently exercisable into common shares of the Company at a price of $0.10 per share and were issued pursuant to a non-brokered private placement priced at $.04/Unit consisting of a total 23,500,000 Units. The 23,500,000 Unit financing consisted of a first tranche of 13,700,000 Units which closed on Nov. 03, 2022, and a 2nd tranche of 9,800,000 Units which closed on November 29, 2022.

The Units were comprised of one common share and one warrant, the warrants being exercisable at $0.06 in year one and $0.10 in year two. 1,625,000 warrants were previously exercised during the first year of issuance at $0.06.

Subject to TSX Venture Exchange acceptance, the warrants will have respectively amended expiry dates of November 03, 2027, and November 29, 2027. All other terms and conditions of the warrants, including the exercise price, remain the same.

About Portofino Resources Inc.
Portofino is a Vancouver, Canada-based company focused on exploring and developing mineral resource projects in the Americas. Portofino holds a 100% interest in the (drill ready) Yergo Lithium Project in Catamarca, Argentina situated in the heart of the world-renowned Argentine Lithium Triangle.

The Company also holds a 100% interest in two gold exploration projects located within northwestern Ontario, Canada, including the drill-ready, South of Otter, Red Lake gold project, and the Gold Creek, Thunder Bay project which has been optioned to Delta Resources Limited.

ON BEHALF OF THE BOARD

"David G. Tafel"

Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's future business plans. Forward-looking information in this news release is based on certain assumptions and expected future events, namely the growth and development of the Company's business as currently anticipated. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270767

, /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or "the Company"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, today announced that the Company will issue its third quarter 2025 earnings on October 30, 2025. Leadership will host a conference call to discuss results at 4:30 p.m. ET on that date. A press release detailing the Company's results will be issued prior to the call.

A live webcast of the event will be available on the "Events & Presentations" section of the Company's Investor Relations website at ir.rocketcompanies.com. A replay of the webcast will be available on the Investor Relations website following the conclusion of the event.

About Rocket Companies

Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform including mortgage, real estate and personal finance businesses: Rocket Mortgage, Redfin, Mr. Cooper, Rocket Homes, Rocket Close, Rocket Money and Rocket Loans.

With insights from more than 160 million calls with clients each year, 30 petabytes of data and a mission to Help Everyone Home, Rocket Companies is well positioned to be the destination for AI-fueled homeownership. Known for providing exceptional client experiences, J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for primary mortgage origination and mortgage servicing a total of 23 times – the most of any mortgage lender.

For more information, please visit the Company's Corporate website or Investor Relations website.

SOURCE Rocket Companies, Inc.

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ANDOVER, Mass., Oct. 16, 2025 (GLOBE NEWSWIRE) -- MKS Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, announced today that its President and Chief Executive Officer John T.C. Lee has been awarded the Optica i4 Individual Lifetime Achievement Prize presented by The Global Photonics Economic Forum 2025 hosted in Málaga, Spain. This prestigious honor recognizes outstanding contributions and visionary leadership in the global optics and photonics industry.

Recognizing John Lee’s outstanding leadership and impact, the jury highlighted that, “Mr. Lee was instrumental in transforming MKS from a single-market instrument provider into a multi-market powerhouse across the semiconductor, electronics and packaging, and specialty industrial markets. He also champions a ‘Culture of Belonging’ at MKS—because unique perspectives and experiences drive growth and innovation.”

“I am truly honored to accept this prestigious award on behalf of the entire MKS team,” said Mr. Lee. “Their dedication and innovation have positioned MKS as a leader in the semiconductor, electronics and packaging, and specialty industrial markets. Our commitment to delivering innovative technology, products, and services to our customers is steadfast, and I couldn’t be prouder of this recognition, which reflects the incredible contributions of our team.”

The Optica Corporate Engagement Council selected Mr. Lee based on his exemplary achievements in:

• Innovation: Driving advancements in photonics, lasers, and precision manufacturing, expanding MKS’ capabilities in semiconductor processing and industrial laser solutions.

• Integrity: Fostering a culture of trust and operational excellence, ensuring ethical leadership and long-term sustainability in photonics and optics.

• Inclusivity: Promoting diversity in STEM, supporting a workforce that reflects global talent and fostering collaboration across industries.

• Impact: Transforming photonics, semiconductors, and precision optics, and positioning MKS as a global leader in high-performance optical and photonic solutions.

From Left to Right:
Ulrike Fuchs - Chair, Optica Awards Council
John T.C. Lee - President & CEO, MKS Inc.
Jim Kafka - President, Optica
Jose Pozo - Chief Technology Officer, Optica

About MKS

MKS Inc. (NASDAQ: MKSI) enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.

Contacts: 
Bill Casey
Vice President, Marketing
Telephone: +1 (630) 995-6384
Email: [email protected]

Kelly Kerry, Partner
Kekst CNC
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6f533715-8216-44b2-8b1e-247ed4230dc7

WAYNE, Pa., Oct. 16, 2025 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE:TFX) will host a conference call to discuss its third quarter financial results and provide an operational update at 8:00 a.m. Eastern Time on Thursday, November 6, 2025.

To participate in the conference call, please utilize this link to pre-register and receive the dial-in information. The call can also be accessed through a live audio webcast on the company’s website, teleflex.com.

An audio replay of the call will be available beginning at 11:00 am Eastern Time on November 6, 2025, either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S. and Canada) or 1 609 800 9909 (all other locations). The conference ID is 69028.

Vascular Intervention Virtual Meeting

On November 14, 2025, at 8:00 am Eastern Time, Teleflex will host a virtual meeting to review its recent Vascular Intervention business acquisition, with a focus on the strategic rationale and the comprehensive coronary and peripheral product portfolio.

To participate in the investor event, please utilize this link to pre-register and receive the dial-in information. The call can also be accessed through a live audio webcast on the company’s website, teleflex.com.

About Teleflex Incorporated

As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people’s lives. Through our vision to become the most trusted partner in healthcare, we offer a diverse portfolio with solutions in the therapy areas of anesthesia, emergency medicine, interventional cardiology and radiology, surgical, vascular access, and urology. We believe that the potential of great people, purpose driven innovation, and world-class products can shape the future direction of healthcare.

Teleflex is the home of Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™ Rüsch™, UroLift™ and Weck™ – trusted brands united by a common sense of purpose.

At Teleflex, we are empowering the future of healthcare. For more information, please visit teleflex.com.

Contacts:
Teleflex Incorporated:
Lawrence Keusch
Vice President, Investor Relations and Strategy Development

investors.teleflex.com
610-948-2836

Earnings per Diluted Common Share of $0.41, a 37% Increase From the Prior Year (21% on an Operating Basis (non-GAAP)), Driven By Record Revenue of $457 Million with Tangible Book Value Per Common Share (non-GAAP) Year-over-Year growth of 11%

, /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the third quarter of 2025 with net income available to common shareholders of $149.5 million, or $0.41 per diluted common share. Comparatively, third quarter of 2024 net income available to common shareholders totaled $110.1 million, or $0.30 per diluted common share, and second quarter of 2025 net income available to common shareholders totaled $130.7 million, or $0.36 per diluted common share.

On an operating basis, third quarter of 2025 earnings per diluted common share (non-GAAP) was $0.41, excluding ($2.3) million (pre-tax) of significant items impacting earnings. By comparison, the third quarter of 2024 was $0.34 of earnings per diluted common share (non-GAAP) on an operating basis, excluding $0.04 of earnings per diluted common share (non-GAAP) of significant items impacting earnings, and the second quarter of 2025 was $0.36 of earnings per diluted common share (non-GAAP) with no significant items impacting earnings.

"F.N.B. Corporation reported record earnings per diluted common share of $0.41, a 37% increase from the year-ago quarter and 14% increase from the prior quarter, with revenue of $457 million principally driven by growth in net interest income, margin expansion and record non-interest income. Pre-provision net revenue (non-GAAP) grew 11% linked-quarter contributing to positive operating leverage and a peer-leading efficiency ratio (non-GAAP) of 52%," said F.N.B. Corporation Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr. "Our growing profitability further strengthened capital levels to all-time highs with a CET1 regulatory capital ratio of 11% (estimated), tangible book value per share (non-GAAP) growth of 11% year-over-year and a return on tangible common equity ratio (non-GAAP) of 15%. FNB's performance is supported by our consistent underwriting standards and proactive credit risk management actions, which led to continued solid credit results for the quarter, and by our technology investments. Our investments in digital capabilities, data analytics and Artificial Intelligence enable us to broaden household penetration and increasingly serve as the primary bank for new and existing consumer and commercial clients."

Third Quarter 2025 Highlights
(All comparisons refer to the third quarter of 2024, except as noted)

Average loans and leases totaled $34.8 billion, an increase of $1.0 billion, or 3.0%, primarily driven by consumer loan growth of $994.7 million.
Average deposits totaled $37.9 billion, an increase of $2.3 billion, or 6.4%, as the growth in average interest-bearing demand deposits of $2.1 billion, average time deposits of $261.3 million and average non-interest-bearing demand deposits of $38.2 million more than offset the decline in average savings deposits of $155.9 million.
On a linked-quarter basis, average loans and leases increased 3.6% annualized and average deposits increased 8.2% annualized.
The loan-to-deposit ratio was 91% at September 30, 2025, a slight improvement compared to 92% at both June 30, 2025, and September 30, 2024.
Net interest income totaled a record $359.3 million, an increase of $12.1 million, or 3.5%, linked-quarter, primarily due to growth in earning assets, lower cost of funds and the impact of one more day in the quarter.
Net interest margin (FTE) (non-GAAP) equaled 3.25%, an increase of 6 basis points from the second quarter of 2025, reflecting a 3 basis point improvement in the total yield on earning assets (non-GAAP) and a 3 basis point decline in the total cost of funds.
Non-interest income totaled a record $98.2 million, an increase of $7.2 million, or 7.9%, from the prior quarter, benefiting from our diversified business model and related revenue generation.
Pre-provision net revenue (non-GAAP) totaled $213.9 million, an 11.4% increase from the prior quarter, driven by continued strong non-interest income generation, growth in net interest income and well managed non-interest expense.
Provision for credit losses was $24.0 million, a decrease of $1.6 million from the prior quarter, with net charge-offs of $19.7 million, or 0.22% annualized of total average loans, compared to $21.8 million, or 0.25% annualized, in the prior quarter. The ratio of non-performing loans and other real estate owned (OREO) to total loans and leases and OREO increased 3 basis points from the prior quarter to 0.37%, and total delinquency increased 3 basis points from the prior quarter to 0.65%. The allowance for credit losses (ACL) to total loans and leases remained stable at 1.25%. Overall, asset quality metrics remain at solid levels, reflecting continued proactive management of the loan portfolio.
Record capital levels with the Common Equity Tier 1 (CET1) regulatory capital ratio at 11.0% (estimated), compared to 10.4% at September 30, 2024, and 10.8% at June 30, 2025. The tangible common equity to tangible assets ratio (non-GAAP) equaled 8.7%, compared to 8.2% at September 30, 2024, and 8.5% at June 30, 2025.
Tangible book value per common share (non-GAAP) of $11.48 increased $1.15, or 11.1%, compared to September 30, 2024, and $0.34, or 3.1%, compared to June 30, 2025. Accumulated other comprehensive income/loss (AOCI) reduced the tangible book value per common share (non-GAAP) by $0.22 as of September 30, 2025, primarily due to the impact of unrealized losses on Available-for-Sale (AFS) securities, compared to a reduction of $0.43 as of September 30, 2024, and $0.26 as of June 30, 2025.
During the third quarter of 2025, the Company repurchased $12 million, or 0.8 million shares, of common stock at a weighted average share price of $15.50 while maintaining capital above stated operating levels and supporting loan growth in the quarter.

Non-GAAP measures referenced in this release are used by management to measure performance in operating the business that management believes enhances investors' ability to better understand the underlying business performance and trends related to core business activities. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the tables at the end of this release. For more information regarding our use of non-GAAP measures, please refer to the discussion herein under the caption, "Use of Non-GAAP Financial Measures and Key Performance Indicators."

Quarterly Results Summary

3Q25

2Q25

3Q24

Reported results

Net income available to common shareholders (millions)

$      149.5

$      130.7

$      110.1

Earnings per diluted common share

0.41

0.36

0.30

Book value per common share

18.52

18.17

17.38

Pre-provision net revenue (non-GAAP) (millions)

213.9

192.0

163.6

Operating results (non-GAAP)

Operating net income available to common shareholders (millions)

$      147.7

$      130.7

$      122.2

Operating earnings per diluted common share

0.41

0.36

0.34

Operating pre-provision net revenue (millions)

211.6

192.0

178.8

Average diluted common shares outstanding (thousands)

361,670

362,259

362,426

Significant items impacting earnings(a) (millions)

Pre-tax FDIC special assessment reduction

$          2.3

$            —

$            —

After-tax impact of FDIC special assessment reduction

1.8

—

—

Pre-tax software impairment

—

—

(3.7)

After-tax impact of software impairment

—

—

(2.9)

Pre-tax loss related to indirect auto loan sale

—

—

(11.6)

After-tax impact of loss related to indirect auto loan sale

—

—

(9.1)

Total significant items pre-tax

$          2.3

$            —

$      (15.3)

Total significant items after-tax

$          1.8

$            —

$      (12.0)

Capital measures

Common equity tier 1 (b)

11.0 %

10.8 %

10.4 %

Tangible common equity to tangible assets (non-GAAP)

8.69

8.47

8.17

Tangible book value per common share (non-GAAP)

$      11.48

$      11.14

$      10.33

(a) Favorable (unfavorable) impact on earnings.

(b) Estimated for 3Q25.

Third Quarter 2025 Results – Comparison to Prior-Year Quarter
(All comparisons refer to the third quarter of 2024, except as noted)

Net interest income totaled $359.3 million, an increase of $35.9 million, or 11.1%, reflecting growth in earning assets and lower interest-bearing deposit costs, partially offset by lower yields on earning assets. The net interest margin (FTE) (non-GAAP) increased 17 basis points to 3.25%. The yield on earning assets (non-GAAP) decreased 15 basis points to 5.36%, driven by a 24 basis point decline in yields on loans to 5.79%, partially offset by a 41 basis point increase in yields on investment securities to 3.58%. Total cost of funds decreased 33 basis points to 2.23%, with a 42 basis point decrease in interest-bearing deposit costs to 2.66% and a 51 basis point decrease in total borrowing costs. The Federal Open Market Committee lowered the target federal funds rate by 125 basis points since August 2024.

Average loans and leases totaled $34.8 billion, an increase of $1.0 billion, or 3.0%, driven by growth of $994.7 million in consumer loans. Commercial leases increased $100.9 million, or 14.7%, driven by deepening customer relationships and increased activity in the manufacturing industry. Commercial real estate loans decreased $100.9 million, or 0.8%, while commercial and industrial loans increased slightly by $4.5 million, or 0.1%, as the growth in the North Carolina and Cleveland markets was offset by higher loan balance attrition from secondary market activity. The increase in average consumer loans included a $1.1 billion increase in residential mortgage loans largely due to the continued successful execution in key markets and long-standing strategy of serving the purchase market. Average indirect auto loans decreased $222.3 million, reflecting a sale of $431 million that closed in the third quarter of 2024, partially offset by new organic growth in the portfolio.

Average deposits totaled $37.9 billion, an increase of $2.3 billion, or 6.4%. The growth in average interest-bearing demand deposits of $2.1 billion, average time deposits of $261.3 million and average non-interest-bearing demand deposits of $38.2 million more than offset the decline in average savings deposits of $155.9 million as customers continued to migrate balances into higher-yielding products. The funding mix has slightly shifted compared to the year-ago quarter with non-interest-bearing demand deposits comprising 26% of total deposits at September 30, 2025, compared to 27% a year ago. The loan-to-deposit ratio improved to 91% at September 30, 2025, compared to 92% at September 30, 2024.

Non-interest income totaled a record $98.2 million, compared to $89.7 million. Mortgage banking operations income increased $3.6 million, or 65.8%, due to strong sold loan volumes, net positive fair value adjustments from pipeline hedging activity and a mortgage servicing rights (MSR) impairment of $2.8 million in the third quarter of 2024. Mortgage sold production increased 21% from the year-ago quarter. Capital markets income increased $1.7 million, or 27.1%, driven by record debt capital markets and international banking income, as well as contributions from customer swap activity, syndications, public finance and advisory services. Wealth Management revenues increased $1.5 million, or 8.0%, as securities commissions and fees and trust income increased 12.6% and 4.7%, respectively, through continued strong contributions across the geographic footprint. Other non-interest income increased $5.3 million, or 135.6%, primarily due to a $5.4 million recovery on an other asset previously written off as part of a 2017 acquisition.

Non-interest expense totaled $243.5 million, decreasing $5.9 million, or 2.4%. When adjusting for ($2.3) million1 of significant items in the third quarter of 2025 and $15.3 million2 of significant items in the third quarter of 2024, operating non-interest expense (non-GAAP) increased $11.6 million, or 5.0%. Salaries and employee benefits increased $5.5 million, or 4.4%, primarily reflecting strategic hiring, continued investments in our risk management infrastructure, and higher production-related compensation. Outside services increased $1.7 million, or 6.8%, due to higher volume-related technology and third-party costs. Other non-interest expense increased $3.7 million, or 17.4%, on an operating basis (non-GAAP) reflecting the impact of Community Uplift, a mortgage down payment assistance program that also includes commitments from our previously announced settlement agreement with the Department of Justice.

The ratio of non-performing loans and OREO to total loans and OREO decreased 2 basis points to 0.37%. Total delinquency decreased 14 basis points to 0.65%. Overall, asset quality metrics continue to remain at solid levels.

The provision for credit losses was $24.0 million, compared to $23.4 million. The third quarter of 2025 reflected net charge-offs of $19.7 million, or 0.22% annualized of total average loans, compared to $21.5 million, or 0.25% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $437.3 million, an increase of $17.1 million, reflecting overall loan growth and a stable ratio of the ACL to total loans and leases at 1.25%.

The effective tax rate was 21.3%, compared to 21.4% in the third quarter of 2024.

The CET1 regulatory capital ratio was 11.0% (estimated) at September 30, 2025, and 10.4% at September 30, 2024. Tangible book value per common share (non-GAAP) was $11.48 at September 30, 2025, an increase of $1.15, or 11.1%, from $10.33 at September 30, 2024. AOCI reduced the current quarter tangible book value per common share (non-GAAP) by $0.22, compared to a reduction of $0.43 at the end of the year-ago quarter.

_________________________________

1 Third quarter 2025 non-interest expense significant items impacting earnings included a ($2.3) million (pre-tax) reduction in the estimated Federal Deposit Insurance Company (FDIC) special assessment related to the 2023 bank failures.

2 Third quarter 2024 non-interest expense significant items impacting earnings included an $11.6 million (pre-tax) loss on an indirect auto loan sale and a $3.7 million (pre-tax) software impairment.

Third  Quarter 2025 Results – Comparison to Prior Quarter
(All comparisons refer to the second quarter of 2025, except as noted)

Net interest income totaled $359.3 million, an increase of $12.1 million, or 3.5%, reflecting growth in earning assets, lower cost of funds and the impact of one more day in the quarter. The total yield on earning assets (non-GAAP) increased 3 basis points to 5.36%. The total cost of funds decreased 3 basis points to 2.23%, as the cost of interest-bearing deposits remained stable at 2.66% and total borrowing costs declined 6 basis points to 4.65%. Total average borrowings declined $423.7 million primarily due to the $350 million senior note offering that matured in August 2025 and the funding mix shift reflecting the growth in average deposits. The resulting net interest margin (FTE) (non-GAAP) was 3.25%, a 6 basis point increase from the prior quarter.

Average loans and leases totaled $34.8 billion, an increase of $311.8 million, or 3.6% annualized, as average consumer loans increased $431.2 million, or 13.0% annualized, and average commercial loans and leases decreased $119.4 million, or 2.2% annualized. The decrease in average commercial loans and leases included a decrease of $107.6 million in commercial real estate and $19.0 million in commercial and industrial loans reflecting elevated loan attrition in the secondary markets, partially offset by a $13.0 million increase in commercial leases. For consumer lending, average residential mortgages increased $384.4 million driven by continued seasonal growth in mortgage originations and average consumer home equity lending increased $45.7 million, or 12.9% annualized.

Average deposits totaled $37.9 billion, an increase of $766.5 million, due to organic growth in new and existing customer relationships. The increases were due to growth in average interest-bearing demand deposits of $375.2 million, average time deposits of $254.2 million, average non-interest-bearing deposit balances of $92.7 million and average savings deposit balances of $44.4 million. The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for both September 30, 2025 and June 30, 2025. The loan-to-deposit ratio improved to 91% at September 30, 2025 compared to 92% at June 30, 2025.

Non-interest income totaled a record $98.2 million, an increase of $7.2 million, or 7.9%, from the prior quarter. Mortgage banking operations income increased $2.9 million, or 45.6%, primarily due to strong sold loan volumes. Capital markets income increased $1.0 million, or 14.2%, driven by record debt capital markets and international banking income, as well as contributions from customer swap activity, syndications, public finance and advisory services. Other non-interest income increased $3.2 million, or 53.3%, primarily due to a $5.4 million recovery on an other asset previously written off as part of a 2017 acquisition.

Non-interest expense totaled $243.5 million, a decrease of $2.7 million, or 1.1%, compared to the prior quarter. When adjusting for ($2.3) million3 of significant items in the third quarter of 2025, operating non-interest expense (non-GAAP) decreased $0.4 million, or 0.2%. Salaries and employee benefits increased $1.7 million, or 1.3%, reflecting increased performance-related compensation while net occupancy and equipment decreased $2.5 million, or 5.2%, primarily due to lower fixed asset depreciation. The efficiency ratio (non-GAAP) totaled 52.4%, down from 54.8% in the prior quarter.

The ratio of non-performing loans and OREO to total loans and OREO increased 3 basis points to 0.37%, and delinquency increased 3 basis points to 0.65%. Overall, asset quality metrics continue to remain at solid levels. The provision for credit losses was $24.0 million, compared to $25.6 million. The third quarter of 2025 reflected net charge-offs of $19.7 million, or 0.22% annualized of total average loans, compared to $21.8 million, or 0.25% annualized, reflecting continued proactive management of the loan portfolio. The ACL was $437.3 million, an increase of $5.2 million, with the ratio of the ACL to total loans and leases stable at 1.25%.

The effective tax rate was 21.3%, compared to 21.5%.

The CET1 regulatory capital ratio was 11.0% (estimated), compared to 10.8% at June 30, 2025. Tangible book value per common share (non-GAAP) was $11.48 at September 30, 2025, an increase of $0.34 per share. AOCI reduced the current quarter-end tangible book value per common share (non-GAAP) by $0.22, compared to a reduction of $0.26 at the end of the prior quarter.

_________________________________

3 Third quarter 2025 non-interest expense significant items impacting earnings included a ($2.3) million (pre-tax) reduction in the estimated FDIC special assessment related to the 2023 bank failures.

Use of Non-GAAP Financial Measures and Key Performance Indicators
To supplement our Consolidated Financial Statements presented in accordance with GAAP, we use certain non-GAAP financial measures, such as operating net income available to common shareholders, operating earnings per diluted common share, return on average tangible equity, return on average tangible common equity, return on average tangible assets, tangible book value per common share, the ratio of tangible common equity to tangible assets, pre-provision net revenue (reported), operating pre-provision net revenue, efficiency ratio, and net interest margin (FTE) to provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to assess their performance and trends.

These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included later in this release under the heading "Reconciliations of Non-GAAP Financial Measures and Key Performance Indicators to GAAP."

Management believes certain items (e.g., FDIC special assessment) are not organic to running our operations and facilities. These items are considered significant items impacting earnings as they are deemed to be outside of ordinary banking activities. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction.

To facilitate peer comparisons of net interest margin and efficiency ratio, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to make it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP). Taxable-equivalent amounts for 2025 and 2024 were calculated using a federal statutory income tax rate of 21%.

Cautionary Statement Regarding Forward-Looking Information

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward‑looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control. Forward-looking statements may relate to various matters, including our financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as "anticipates," "assumes," "believes," "can," "continues," "could," "estimates," "expects," "forecasts," "goal," "intends," "likely," "may," "might," "objective," "plans," "positioned," "potential," "projects," "remains," "should," "target," "trend," "will," "would," or similar words or expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make.

There are various important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to:

the credit risk associated with the substantial amount of commercial loans and leases in our loan portfolio;
the volatility of the mortgage banking business;
changes in market interest rates, the U.S. federal government shutdown and the unpredictability of monetary, tax and other policies of government agencies, including tariffs or the imposition of new tariffs, trade wars, barriers or restrictions, or threats of such actions;
the impact of changes in interest rates on the value of our investment securities portfolios;
changes in our ability to obtain liquidity as and when needed to fund our obligations as they come due, including as a result of adverse changes to our credit ratings;
the risk associated with uninsured deposit account balances;
regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders;
our ability to recruit and retain qualified banking professionals;
the financial soundness of other financial institutions and the impact of volatility in the banking sector on us;
changes and instability in economic conditions and financial markets, in the regions in which we operate or otherwise, including a contraction of economic activity, economic downturn or uncertainty and international conflict;
our ability to continue to invest in technological improvements as they become appropriate or necessary;
any interruption in or breach in security of our information systems, or other cybersecurity risks;
risks associated with reliance on third-party vendors;
risks associated with the use of models, estimations and assumptions in our business;
the effects of adverse weather events and public health emergencies;
the risks associated with acquiring other banks and financial services businesses, including integration into our existing operations;
the extensive federal and state regulations, supervision and examination governing almost every aspect of our operations, and potential expenses associated with complying with such regulations;
our ability to comply with the consent orders entered into by First National Bank of Pennsylvania with the Department of Justice and the North Carolina State Department of Justice, and related costs and potential reputational harm;
changes in federal, state or local tax rules and regulations or interpretations, or accounting policies, standards and interpretations;
the effects of climate change and related legislative and regulatory initiatives; and
any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above.

FNB cautions that the risks identified here are not exhaustive of the types of risks that may adversely impact FNB and actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under Item 1A. Risk Factors and the Risk Management sections of our 2024 Annual Report on Form 10-K (including the MD&A section), our subsequent 2025 Quarterly Reports on Form 10-Q (including the risk factors and risk management discussions) and our other 2025 filings with the Securities and Exchange Commission (SEC), which are available on our corporate website at https://www.fnb-online.com/about-us/investor-information/reports-and-filings or the SEC's website at www.sec.gov. We have included our web address as an inactive textual reference only. Information on our website is not part of our SEC filings.

You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to FNB. FNB does not undertake, and specifically disclaims any obligation to update or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

Conference Call
F.N.B. Corporation (NYSE: FNB) announced the financial results for the third quarter of 2025 after the market close on Thursday, October 16, 2025. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results on Friday, October 17, 2025 at 8:30 AM ET.

A live listen-only webcast of the conference call will be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com. Participants can access the link under the "About Us" tab and clicking on "Investor Relations" then "Investor Conference Calls." The live webcast will open approximately 30 minutes prior to the start of the call.

To participate in the Q&A portion of the call, dial 844-802-2440 (for domestic callers) or 412-317-5133 (for international callers). Pre-registration can be accessed at https://dpregister.com/sreg/10203302/ffffc5f3a0. Callers who pre-register will be provided a conference passcode and unique PIN to bypass the live operator and gain immediate access to the call.

Presentation slides and the earnings release will also be available under the Investor Relations section of the Corporation's website at www.fnbcorporation.com.

Following the call, a replay of the conference call will be available via the webcast link under the Investor Relations section of the Corporation's website at www.fnbcorporation.com.

About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The Company has total assets of $50 billion and approximately 350 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina, South Carolina, Washington, D.C. and Virginia.

FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.

The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.

F.N.B. CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

(Unaudited)

% Variance

3Q25

3Q25

For the Nine Months Ended
September 30,

%

3Q25

2Q25

3Q24

2Q25

3Q24

2025

2024

Var.

Interest Income

Loans and leases, including fees

$ 511,045

$ 500,767

$ 515,948

2.1

(1.0)

$   1,492,386

$   1,491,226

0.1

Securities:

   Taxable

59,718

57,168

48,541

4.5

23.0

171,736

142,391

20.6

   Tax-exempt

6,923

6,918

7,007

0.1

(1.2)

20,781

21,179

(1.9)

Other

18,286

17,788

11,276

2.8

62.2

53,147

28,661

85.4

     Total Interest Income 

595,972

582,641

582,772

2.3

2.3

1,738,050

1,683,457

3.2

Interest Expense

Deposits

187,567

181,190

199,036

3.5

(5.8)

554,585

549,394

0.9

Short-term borrowings

17,764

20,132

29,934

(11.8)

(40.7)

51,999

90,472

(42.5)

Long-term borrowings

31,369

34,123

30,473

(8.1)

2.9

101,153

85,364

18.5

     Total Interest Expense

236,700

235,445

259,443

0.5

(8.8)

707,737

725,230

(2.4)

       Net Interest Income

359,272

347,196

323,329

3.5

11.1

1,030,313

958,227

7.5

Provision for credit losses

23,991

25,601

23,438

(6.3)

2.4

67,081

57,517

16.6

      Net Interest Income After

      Provision for Credit Losses

335,281

321,595

299,891

4.3

11.8

963,232

900,710

6.9

Non-Interest Income

Service charges

23,191

22,930

24,024

1.1

(3.5)

68,476

67,925

0.8

Interchange and card transaction fees

13,424

13,254

12,922

1.3

3.9

39,048

38,627

1.1

Trust services

11,647

11,591

11,120

0.5

4.7

35,638

34,019

4.8

Insurance commissions and fees

4,495

5,108

5,118

(12.0)

(12.2)

15,396

17,843

(13.7)

Securities commissions and fees

8,868

8,882

7,876

(0.2)

12.6

26,570

24,011

10.7

Capital markets income

7,875

6,897

6,194

14.2

27.1

20,095

17,668

13.7

Mortgage banking operations

9,183

6,306

5,540

45.6

65.8

22,482

20,410

10.2

Dividends on non-marketable equity securities

6,110

6,168

6,560

(0.9)

(6.9)

17,838

19,648

(9.2)

Bank owned life insurance

4,208

3,838

6,470

9.6

(35.0)

13,396

13,232

1.2

Net securities gains (losses)

—

58

(28)

n/m

n/m

58

(31)

n/m

Other

9,169

5,983

3,892

53.3

135.6

17,954

12,120

48.1

     Total Non-Interest Income

98,170

91,015

89,688

7.9

9.5

276,951

265,472

4.3

Non-Interest Expense

Salaries and employee benefits

131,575

129,842

126,066

1.3

4.4

396,552

376,109

5.4

Net occupancy

19,161

19,299

22,384

(0.7)

(14.4)

58,218

60,611

(3.9)

Equipment

25,662

27,988

23,469

(8.3)

9.3

79,535

71,576

11.1

Outside services

26,033

25,317

24,383

2.8

6.8

77,691

70,513

10.2

Marketing

5,517

5,017

6,023

10.0

(8.4)

15,107

15,460

(2.3)

FDIC insurance

6,351

8,922

10,064

(28.8)

(36.9)

23,756

32,680

(27.3)

Bank shares and franchise taxes

3,959

3,960

3,931

—

0.7

12,055

11,987

0.6

Other

25,277

25,880

33,111

(2.3)

(23.7)

73,657

74,203

(0.7)

     Total Non-Interest Expense

243,535

246,225

249,431

(1.1)

(2.4)

736,571

713,139

3.3

Income Before Income Taxes

189,916

166,385

140,148

14.1

35.5

503,612

453,043

11.2

Income tax expense

40,407

35,715

30,045

13.1

34.5

106,918

97,572

9.6

Net Income

149,509

130,670

110,103

14.4

35.8

396,694

355,471

11.6

Preferred stock dividends

—

—

—

—

—

—

6,005

(100.0)

Net Income Available to Common Shareholders

$ 149,509

$ 130,670

$ 110,103

14.4

35.8

$      396,694

$      349,466

13.5

Earnings per Common Share

Basic

$       0.41

$       0.36

$       0.30

13.9

36.7

$            1.10

$            0.97

13.4

Diluted

0.41

0.36

0.30

13.9

36.7

1.09

0.96

13.5

Cash Dividends per Common Share

0.12

0.12

0.12

—

—

0.36

0.36

—

n/m - not meaningful

F.N.B. CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in millions)

(Unaudited)

% Variance

3Q25

3Q25

3Q25

2Q25

3Q24

2Q25

3Q24

Assets

Cash and due from banks

$          474

$          535

$          596

(11.4)

(20.5)

Interest-bearing deposits with banks

1,939

1,892

1,482

2.5

30.8

Cash and Cash Equivalents

2,413

2,427

2,078

(0.6)

16.1

Securities available for sale

3,620

3,580

3,494

1.1

3.6

Securities held to maturity

4,049

4,115

3,820

(1.6)

6.0

Loans held for sale

278

296

193

(6.1)

44.0

Loans and leases, net of unearned income

34,957

34,679

33,717

0.8

3.7

Allowance for credit losses on loans and leases

(437)

(432)

(420)

1.2

4.0

Net Loans and Leases

34,520

34,247

33,297

0.8

3.7

Premises and equipment, net

557

557

505

—

10.3

Goodwill

2,480

2,480

2,478

—

0.1

Core deposit and other intangible assets, net

40

44

56

(9.1)

(28.6)

Bank owned life insurance

668

665

657

0.5

1.7

Other assets

1,264

1,314

1,398

(3.8)

(9.6)

Total Assets

$    49,889

$    49,725

$    47,976

0.3

4.0

Liabilities

Deposits:

Non-interest-bearing demand

$      9,969

$      9,872

$      9,870

1.0

1.0

Interest-bearing demand

17,803

17,292

15,999

3.0

11.3

Savings

3,114

3,071

3,231

1.4

(3.6)

Certificates and other time deposits

7,555

7,513

7,671

0.6

(1.5)

 Total Deposits

38,441

37,748

36,771

1.8

4.5

Short-term borrowings

1,905

1,876

1,562

1.5

22.0

Long-term borrowings

2,099

2,692

2,515

(22.0)

(16.5)

Other liabilities

808

885

879

(8.7)

(8.1)

Total Liabilities

43,253

43,201

41,727

0.1

3.7

Shareholders' Equity

Common stock

4

4

4

—

—

Additional paid-in capital

4,693

4,691

4,693

—

—

Retained earnings

2,218

2,112

1,886

5.0

17.6

Accumulated other comprehensive loss

(77)

(92)

(154)

(16.3)

(50.0)

Treasury stock

(202)

(191)

(180)

5.8

12.2

Total Shareholders' Equity

6,636

6,524

6,249

1.7

6.2

Total Liabilities and Shareholders' Equity

$    49,889

$    49,725

$    47,976

0.3

4.0

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in thousands)

(Unaudited)

3Q25

2Q25

3Q24

Interest

Interest

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

Balance

Expense

Rate

Assets

Interest-bearing deposits with banks

$  1,738,570

$  18,286

4.17 %

$  1,723,351

$  17,788

4.14 %

$  1,003,513

$  11,276

4.47 %

Taxable investment securities (1)

6,611,222

59,506

3.60

6,587,352

56,955

3.46

6,177,736

48,317

3.13

Tax-exempt investment securities (1) (2)

1,003,661

8,742

3.48

1,004,672

8,737

3.48

1,023,050

8,816

3.45

Loans held for sale

312,034

5,480

7.02

225,509

4,156

7.37

300,326

5,729

7.61

Loans and leases (2) (3)

34,814,280

507,107

5.79

34,502,493

498,078

5.79

33,802,701

511,564

6.03

Total Interest Earning Assets (2)

44,479,767

599,121

5.36

44,043,377

585,714

5.33

42,307,326

585,702

5.51

Cash and due from banks

415,030

395,418

414,536

Allowance for credit losses

(440,868)

(437,130)

(427,826)

Premises and equipment

560,685

555,889

501,588

Other assets

4,504,231

4,548,082

4,620,414

Total Assets

$  49,518,845

$  49,105,636

$ 47,416,038

Liabilities

Deposits:

Interest-bearing demand

$  17,364,490

111,572

2.55

$  16,989,336

108,618

2.56

$ 15,215,815

108,762

2.84

Savings

3,125,868

7,586

0.96

3,081,518

6,862

0.89

3,281,732

10,406

1.26

Certificates and other time

7,495,691

68,409

3.62

7,241,453

65,710

3.64

7,234,412

79,868

4.39

Total interest-bearing deposits

27,986,049

187,567

2.66

27,312,307

181,190

2.66

25,731,959

199,036

3.08

Short-term borrowings

1,682,747

17,764

4.16

1,876,526

20,132

4.29

2,345,960

29,934

5.06

Long-term borrowings

2,511,652

31,369

4.96

2,741,561

34,123

4.99

2,314,914

30,473

5.24

Total Interest-Bearing Liabilities  

32,180,448

236,700

2.92

31,930,394

235,445

2.96

30,392,833

259,443

3.39

Non-interest-bearing demand deposits

9,905,230

9,812,486

9,867,006

Total Deposits and Borrowings

42,085,678

2.23

41,742,880

2.26

40,259,839

2.56

Other liabilities

856,542

883,637

985,545

Total Liabilities

42,942,220

42,626,517

41,245,384

Shareholders' Equity

6,576,625

6,479,119

6,170,654

Total Liabilities and Shareholders' Equity

$  49,518,845

$  49,105,636

$ 47,416,038

Net Interest Earning Assets

$  12,299,319

$  12,112,983

$ 11,914,493

Net Interest Income (FTE) (2)

362,421

350,269

326,259

Tax Equivalent Adjustment

(3,149)

(3,073)

(2,930)

Net Interest Income

$  359,272

$  347,196

$  323,329

Net Interest Spread

2.44 %

2.37 %

2.12 %

Net Interest Margin  (2)

3.25 %

3.19 %

3.08 %

(1)

The average balances and yields earned on securities are based on historical cost.

(2)

The interest income amounts are reflected on an FTE basis (non-GAAP), which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%. The yield on earning assets and the net interest margin are presented on an FTE basis (non-GAAP).

(3)

Average loans and leases consist of average total loans, including non-accrual loans, less average unearned income.

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in thousands)

(Unaudited)

Nine Months Ended September 30,

2025

2024

Interest

Interest

Average

Income/

Yield/

Average

Income/

Yield/

Balance

Expense

Rate

Balance

Expense

Rate

Assets

Interest-bearing deposits with banks

$  1,734,300

$      53,147

4.10 %

$     915,076

$      28,661

4.18 %

Taxable investment securities (1)

6,546,054

171,096

3.48

6,151,500

141,706

3.07

Tax-exempt investment securities (1) (2)

1,006,126

26,243

3.48

1,032,573

26,698

3.45

Loans held for sale

247,438

13,519

7.29

216,403

12,534

7.73

Loans and leases (2) (3)

34,458,648

1,483,204

5.75

33,148,858

1,482,613

5.97

Total Interest Earning Assets (2)

43,992,566

1,747,209

5.31

41,464,410

1,692,212

5.45

Cash and due from banks

401,509

404,234

Allowance for credit losses

(435,677)

(417,393)

Premises and equipment

551,738

485,378

Other assets

4,529,221

4,588,437

Total Assets

$  49,039,357

$  46,525,066

Liabilities

Deposits:

Interest-bearing demand

$  17,086,648

329,018

2.57

$  14,812,493

301,716

2.72

Savings

3,134,324

22,580

0.96

3,351,144

30,541

1.22

Certificates and other time

7,321,336

202,987

3.71

6,728,312

217,137

4.31

Total interest-bearing deposits

27,542,308

554,585

2.69

24,891,949

549,394

2.95

Short-term borrowings

1,645,644

51,999

4.21

2,461,925

90,472

4.90

Long-term borrowings

2,692,580

101,153

5.02

2,179,733

85,364

5.23

Total Interest-Bearing Liabilities  

31,880,532

707,737

2.97

29,533,607

725,230

3.28

Non-interest-bearing demand deposits

9,789,501

9,908,989

Total Deposits and Borrowings

41,670,033

2.27

39,442,596

2.46

Other liabilities

892,612

999,327

Total Liabilities

42,562,645

40,441,923

Shareholders' Equity

6,476,712

6,083,143

Total Liabilities and Shareholders' Equity

$  49,039,357

$  46,525,066

Net Interest Earning Assets

$  12,112,034

$  11,930,803

Net Interest Income (FTE) (2)

1,039,472

966,982

Tax Equivalent Adjustment

(9,159)

(8,755)

Net Interest Income

$ 1,030,313

$   958,227

Net Interest Spread

2.34 %

2.17 %

Net Interest Margin (2)

3.16 %

3.11 %

(1)

The average balances and yields earned on securities are based on historical cost.

(2)

The interest income amounts are reflected on an FTE basis (non-GAAP), which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%. The yield on earning assets and the net interest margin are presented on an FTE basis (non-GAAP).

(3)

Average loans and leases consist of average total loans, including non-accrual loans, less average unearned income.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Nine Months Ended
September 30,

3Q25

2Q25

3Q24

2025

2024

Performance Ratios

Return on average equity

9.02 %

8.09 %

7.10 %

8.19 %

7.81 %

Return on average tangible equity (1) 

14.94

13.57

12.43

13.74

13.79

Return on average tangible

common equity (1) 

14.94

13.57

12.43

13.74

13.63

Return on average assets

1.20

1.07

0.92

1.08

1.02

Return on average tangible assets (1) 

1.29

1.15

1.01

1.17

1.11

Net interest margin (FTE) (2)

3.25

3.19

3.08

3.16

3.11

Yield on earning assets (FTE) (2)

5.36

5.33

5.51

5.31

5.45

Cost of interest-bearing deposits

2.66

2.66

3.08

2.69

2.95

Cost of interest-bearing liabilities 

2.92

2.96

3.39

2.97

3.28

Cost of funds 

2.23

2.26

2.56

2.27

2.46

Efficiency ratio (1)

52.38

54.83

55.16

55.13

55.18

Effective tax rate

21.28

21.47

21.44

21.23

21.54

Capital Ratios

Equity / assets

13.30

13.12

13.02

Common equity tier 1 (3)

11.0

10.8

10.4

Leverage

8.92

8.78

8.64

Tangible common equity / tangible assets (1)

8.69

8.47

8.17

Common Stock Data

Average diluted common shares outstanding

361,669,618

362,258,964

362,425,528

362,329,469

362,583,005

Period end common shares outstanding

358,381,940

359,123,010

359,585,544

Book value per common share

$          18.52

$          18.17

$          17.38

Tangible book value per common share (1)

11.48

11.14

10.33

Dividend payout ratio (common)

29.05 %

33.34 %

39.58 %

33.02 %

37.51 %

(1)

See non-GAAP financial measures section of this Press Release for additional information relating to the calculation of this item.

(2)

The net interest margin and yield on earning assets (all non-GAAP measures) are presented on a fully taxable equivalent (FTE) basis, which adjusts for the tax benefit of income on certain tax-exempt loans and investments using the federal statutory tax rate of 21%. 

(3)

September 30, 2025 Common Equity Tier 1 Capital ratio is an estimate.

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

3Q25

3Q25

3Q25

2Q25

3Q24

2Q25

3Q24

Balances at period end

Loans and Leases:

Commercial real estate (1)

$   12,568

$    12,686

$    12,812

(0.9)

(1.9)

Commercial and industrial 

7,590

7,556

7,541

0.4

0.6

Commercial leases

829

774

709

7.1

16.9

Other

153

182

120

(15.9)

27.5

Commercial loans and leases

21,140

21,198

21,182

(0.3)

(0.2)

Direct installment

2,678

2,671

2,693

0.3

(0.6)

Residential mortgages

8,888

8,595

7,789

3.4

14.1

Indirect installment

767

780

706

(1.7)

8.6

Consumer LOC

1,484

1,435

1,347

3.4

10.2

Consumer loans

13,817

13,481

12,535

2.5

10.2

Total loans and leases

$   34,957

$    34,679

$    33,717

0.8

3.7

Note: Loans held for sale were $278, $296 and $193 at 3Q25, 2Q25, and 3Q24, respectively.

(1) Commercial real estate is made up of 70% non-owner occupied and 30% owner-occupied at September 30, 2025.

% Variance

Average balances

3Q25

3Q25

For the Nine Months Ended
September 30,

%

Loans and Leases:

3Q25

2Q25

3Q24

2Q25

3Q24

2025

2024

Var.

Commercial real estate 

$   12,659

$    12,767

$    12,760

(0.8)

(0.8)

$        12,714

$        12,560

1.2

Commercial and industrial

7,573

7,592

7,569

(0.2)

0.1

7,581

7,491

1.2

Commercial leases

789

776

688

1.7

14.7

777

668

16.2

Other

153

159

141

(3.7)

8.8

153

139

10.1

Commercial loans and leases

21,174

21,294

21,158

(0.6)

0.1

21,225

20,859

1.8

Direct installment

2,671

2,667

2,693

0.2

(0.8)

2,667

2,708

(1.5)

Residential mortgages

8,736

8,352

7,624

4.6

14.6

8,381

7,170

16.9

Indirect installment

777

780

999

(0.5)

(22.2)

772

1,102

(29.9)

Consumer LOC

1,456

1,410

1,329

3.2

9.6

1,413

1,310

7.9

Consumer loans

13,640

13,209

12,645

3.3

7.9

13,234

12,289

7.7

Total loans and leases

$   34,814

$    34,502

$    33,803

0.9

3.0

$        34,459

$        33,149

4.0

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

(Unaudited)

% Variance

3Q25

3Q25

Asset Quality Data

3Q25

2Q25

3Q24

2Q25

3Q24

Non-Performing Assets

Non-performing loans

$    125

$    117

$    129

6.8

(3.1)

Other real estate owned (OREO)

3

2

2

50.0

50.0

Non-performing assets

$    128

$    119

$    131

7.6

(2.3)

Non-performing loans / total loans and leases

0.36 %

0.34 %

0.38 %

Non-performing assets plus 90+ days past due / total loans and leases plus OREO

0.40

0.38

0.43

Non-performing loans plus OREO / total loans and leases plus OREO

0.37

0.34

0.39

Delinquency

Loans 30-89 days past due

$       89

$       86

$    124

3.5

(28.2)

Loans 90+ days past due

13

13

12

—

8.3

Non-accrual loans

125

117

129

6.8

(3.1)

Past due and non-accrual loans

$    227

$    216

$    265

5.1

(14.3)

Past due and non-accrual loans / total loans and leases

0.65 %

0.62 %

0.79 %

F.N.B. CORPORATION AND SUBSIDIARIES

(Dollars in millions)

% Variance

(Unaudited)

3Q25

3Q25

For the Nine Months Ended
September 30,

%

Allowance on Loans and Leases and Allowance for Unfunded Loan Commitments Rollforward

3Q25

2Q25

3Q24

2Q25

3Q24

2025

2024

Var.

Allowance for Credit Losses on Loans and Leases

Balance at beginning of period

$  432.1

$  428.9

$  418.8

0.7

3.2

$        422.8

$       405.6

4.3

Provision for credit losses 

24.9

25.0

22.9

(0.3)

8.9

68.5

56.7

20.8

Net loan (charge-offs) / recoveries

(19.7)

(21.8)

(21.5)

(9.6)

(8.2)

(54.0)

(42.1)

28.4

Allowance for credit losses on loans and leases

$  437.3

$  432.1

$  420.2

1.2

4.1

$        437.3

$       420.2

4.1

Allowance for Unfunded Loan Commitments

Allowance for unfunded loan commitments balance at beginning of period

$    21.0

$    20.3

$    21.8

3.4

(3.7)

$          21.4

$         21.5

(0.5)

Provision (reduction in allowance) for unfunded loan commitments / other adjustments

(0.9)

0.7

0.6

(223.8)

(242.9)

(1.3)

0.9

(248.6)

Allowance for unfunded loan commitments

$    20.1

$    21.0

$    22.4

(4.1)

(10.1)

$          20.1

$         22.4

(10.1)

Total allowance for credit losses on loans and leases and allowance for unfunded loan commitments

$  457.4

$  453.0

$  442.5

1.0

3.4

$        457.4

$       442.5

3.4

Allowance for credit losses on loans and leases / total loans and leases

1.25 %

1.25 %

1.25 %

Allowance for credit losses on loans and leases / total non-performing loans

349.9

370.7

326.7

Net loan charge-offs (annualized) / total average loans and leases

0.22

0.25

0.25

0.21 %

0.17 %

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES AND KEY PERFORMANCE INDICATORS TO GAAP

We believe the following non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and facilitate

comparisons with the performance of our peers. The non-GAAP financial measures we use may differ from the non-GAAP financial measures other financial institutions

use to measure their results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, our reported results prepared in

accordance with U.S. GAAP. The following tables summarize the non-GAAP financial measures included in this press release and derived from amounts reported in our

financial statements.

% Variance

3Q25

3Q25

For the Nine Months Ended
September 30,

%

3Q25

2Q25

3Q24

2Q25

3Q24

2025

2024

Var.

Operating net income available to common shareholders

(dollars in thousands)

Net income available to common shareholders

$  149,509

$  130,670

$  110,103

$  396,694

$ 349,466

Preferred dividend at redemption

—

—

—

—

3,995

Branch consolidation costs

—

—

—

—

1,194

Tax benefit of branch consolidation costs

—

—

—

—

(251)

FDIC special assessment

(2,272)

—

—

(2,272)

5,212

Tax expense (benefit) of FDIC special assessment

477

—

—

477

(1,095)

Software impairment

—

—

3,690

—

3,690

Tax benefit of software impairment

—

—

(775)

—

(775)

Loss related to indirect auto loan sales

—

—

11,572

—

8,969

Tax benefit of loss related to indirect auto loan sales

—

—

(2,430)

—

(1,883)

Operating net income available to common shareholders (non-GAAP)

$  147,714

$  130,670

$  122,160

13.0

20.9

$  394,899

$ 368,522

7.2

Operating earnings per diluted common share

Earnings per diluted common share

$       0.41

$       0.36

$       0.30

$        1.09

$        0.96

Preferred dividend at redemption

—

—

—

—

0.01

Branch consolidation costs

—

—

—

—

—

Tax benefit of branch consolidation costs

—

—

—

—

—

FDIC special assessment

(0.01)

—

—

(0.01)

0.01

Tax expense (benefit) of FDIC special assessment

—

—

—

—

—

Software impairment

—

—

0.01

—

0.01

Tax benefit of software impairment

—

—

—

—

—

Loss related to indirect auto loan sales

—

—

0.03

—

0.02

Tax benefit of loss related to indirect auto loan sales

—

—

(0.01)

—

(0.01)

Operating earnings per diluted common share (non-GAAP)

$       0.41

$       0.36

$       0.34

13.9

20.6

$        1.09

$        1.02

6.9

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Nine Months Ended
September 30,

3Q25

2Q25

3Q24

2025

2024

Return on average tangible equity

(dollars in thousands)

Net income (annualized)

$      593,162

$      524,116

$      438,019

$      530,379

$      474,826

Amortization of intangibles, net of tax (annualized)

12,507

12,607

13,753

12,578

13,926

Tangible net income (annualized) (non-GAAP)

$      605,669

$      536,723

$      451,772

$      542,957

$      488,752

Average total shareholders' equity

$   6,576,625

$   6,479,119

$   6,170,654

$   6,476,712

$   6,083,143

Less: Average intangible assets (1)

(2,522,022)

(2,525,338)

(2,535,769)

(2,524,978)

(2,539,822)

Average tangible shareholders' equity (non-GAAP)

$   4,054,603

$   3,953,781

$   3,634,885

$   3,951,734

$   3,543,321

Return on average tangible equity (non-GAAP)

14.94 %

13.57 %

12.43 %

13.74 %

13.79 %

Return on average tangible common equity

(dollars in thousands)

Net income available to common shareholders (annualized)

$      593,162

$      524,116

$      438,019

$      530,379

$      466,806

Amortization of intangibles, net of tax (annualized)

12,507

12,607

13,753

12,578

13,926

Tangible net income available to common shareholders (annualized) (non-GAAP)

$      605,669

$      536,723

$      451,772

$      542,957

$      480,732

Average total shareholders' equity

$   6,576,625

$   6,479,119

$   6,170,654

$   6,476,712

$   6,083,143

Less:  Average preferred shareholders' equity

—

—

—

—

(17,554)

Less: Average intangible assets (1)

(2,522,022)

(2,525,338)

(2,535,769)

(2,524,978)

(2,539,822)

Average tangible common equity (non-GAAP)

$   4,054,603

$   3,953,781

$   3,634,885

$   3,951,734

$   3,525,767

Return on average tangible common equity (non-GAAP)

14.94 %

13.57 %

12.43 %

13.74 %

13.63 %

Return on average tangible assets

(dollars in thousands)

Net income (annualized)

$      593,162

$      524,116

$      438,019

$      530,379

$      474,826

Amortization of intangibles, net of tax (annualized)

12,507

12,607

13,753

12,578

13,926

Tangible net income (annualized) (non-GAAP)

$      605,669

$      536,723

$      451,772

$      542,957

$      488,752

Average total assets

$ 49,518,845

$ 49,105,636

$ 47,416,038

$ 49,039,357

$ 46,525,066

Less: Average intangible assets (1)

(2,522,022)

(2,525,338)

(2,535,769)

(2,524,978)

(2,539,822)

Average tangible assets (non-GAAP)

$ 46,996,823

$ 46,580,298

$ 44,880,269

$ 46,514,379

$ 43,985,244

Return on average tangible assets (non-GAAP)

1.29 %

1.15 %

1.01 %

1.17 %

1.11 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

3Q25

2Q25

3Q24

Tangible book value per common share

(dollars in thousands, except per share data)

Total shareholders' equity

$    6,635,620

$    6,523,791

$    6,248,456

Less:  Intangible assets (1)

(2,520,013)

(2,524,005)

(2,533,856)

Tangible common equity (non-GAAP)

$    4,115,607

$    3,999,786

$    3,714,600

Common shares outstanding

358,381,940

359,123,010

359,585,544

Tangible book value per common share (non-GAAP)

$            11.48

$            11.14

$            10.33

Tangible common equity to tangible assets

(dollars in thousands)

Total shareholders' equity

$    6,635,620

$    6,523,791

$    6,248,456

Less:  Intangible assets (1)

(2,520,013)

(2,524,005)

(2,533,856)

Tangible common equity (non-GAAP)

$    4,115,607

$    3,999,786

$    3,714,600

Total assets

$  49,888,522

$  49,724,837

$  47,975,574

Less:  Intangible assets (1)

(2,520,013)

(2,524,005)

(2,533,856)

Tangible assets (non-GAAP)

$  47,368,509

$  47,200,832

$  45,441,718

Tangible common equity to tangible assets (non-GAAP)

8.69 %

8.47 %

8.17 %

(1) Excludes loan servicing rights.

F.N.B. CORPORATION AND SUBSIDIARIES

(Unaudited)

For the Nine Months Ended
September 30,

3Q25

2Q25

3Q24

2025

2024

Pre-provision net revenue

(in thousands)

Net interest income

$   359,272

$   347,196

$   323,329

$  1,030,313

$   958,227

Non-interest income

98,170

91,015

89,688

276,951

265,472

Less: Non-interest expense

(243,535)

(246,225)

(249,431)

(736,571)

(713,139)

Pre-provision net revenue (reported) (non-GAAP)

$   213,907

$   191,986

$   163,586

$   570,693

$   510,560

Pre-provision net revenue (reported) (annualized) (non-GAAP)

$   848,651

$   770,055

$   650,789

$   763,015

$   681,989

Adjustments:

Add: Branch consolidation costs (non-interest expense)

—

—

—

—

1,194

Add (Less): FDIC special assessment (non-interest expense)

(2,272)

—

—

(2,272)

5,212

Add: Software impairment (non-interest expense)

—

—

3,690

—

3,690

Add: Loss related to indirect auto loan sales (non-interest expense)

—

—

11,572

—

8,969

Operating pre-provision net revenue (non-GAAP)

$   211,635

$   191,986

$   178,848

$   568,421

$   529,625

Operating pre-provision net revenue (annualized) (non-GAAP)

$   839,637

$   770,055

$   711,505

$   759,977

$   707,455

Efficiency ratio (FTE)

(dollars in thousands)

Total non-interest expense

$   243,535

$   246,225

$   249,431

$   736,571

$   713,139

Less: Amortization of intangibles

(3,991)

(3,979)

(4,376)

(11,909)

(13,197)

Less: OREO expense

(578)

(316)

(354)

(1,209)

(744)

Less: Branch consolidation costs

—

—

—

—

(1,194)

Add (Less): FDIC special assessment

2,272

—

—

2,272

(5,212)

Less: Software impairment

—

—

(3,690)

—

(3,690)

Less: Loss related to indirect auto loan sales

—

—

(11,572)

—

(8,969)

Adjusted non-interest expense

$   241,238

$   241,930

$   229,439

$   725,725

$   680,133

Net interest income

$   359,272

$   347,196

$   323,329

$  1,030,313

$   958,227

Taxable equivalent adjustment

3,149

3,073

2,930

9,159

8,755

Non-interest income

98,170

91,015

89,688

276,951

265,472

Less:  Net securities losses (gains)

—

(58)

28

(58)

31

Adjusted net interest income (FTE) + non-interest income

$   460,591

$   441,226

$   415,975

$  1,316,365

$  1,232,485

Efficiency ratio (FTE) (non-GAAP)

52.38 %

54.83 %

55.16 %

55.13 %

55.18 %

SOURCE F.N.B. Corporation

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George Makris, Jr., Simmons' Chairman and CEO, commented on third quarter 2025 results:

The third quarter was transformative for Simmons. With overwhelming investor support we successfully raised $327 million of equity capital to reposition our balance sheet and unlock our future earnings stream. We effectively addressed a negative arbitrage between long-term bond yields and shorter-term funding costs which freed up capital for future growth. While the one-time loss on the sale of the bonds was significant, the financial strength of our company coupled with the positive sentiment from investors allowed us that opportunity. 

Although the benefit of the repositioning was only partially realized in the quarter based on the timing of the transactions, our results demonstrated the exceptional improvement in our profitability, and the results from the month of September are very encouraging for our future performance.

I believe we are now well positioned to deliver stronger organic growth throughout our franchise which includes some of the most dynamic markets in the country. Our team is prepared, and I am optimistic about Simmons' future.

, /PRNewswire/ -- Simmons First National Corporation (NASDAQ: SFNC) (Simmons or Company) today reported a net loss of $562.8 million for the third quarter of 2025, compared to net income of $54.8 million in the second quarter of 2025 and $24.7 million in the third quarter of 2024. Diluted earnings per share were $(4.00) for the third quarter of 2025, compared to $0.43 in the second quarter of 2025 and $0.20 for the third quarter of 2024. Adjusted earnings1 for the third quarter of 2025 were $64.9 million, compared to $56.1 million in the second quarter of 2025 and $46.0 million in the third quarter of 2024. Adjusted diluted earnings per share1 for the third quarter of 2025 were $0.46, compared to $0.44 in the second quarter of 2025 and $0.37 in the third quarter of 2024.

As previously disclosed, on July 22, 2025, the Company announced the pricing of its public offering of the Company's Class A common stock that generated net proceeds of approximately $327 million. Proceeds from the offering were subsequently utilized to support a balance sheet repositioning that included the sale of approximately $2.4 billion (fair value) of low-yielding investment securities at an after-tax loss of approximately $626 million. Proceeds from the sale of the investment securities were primarily used to deleverage the balance sheet through the pay-down of higher rate, non-relationship wholesale and public fund deposits, as well as higher rate other borrowings primarily consisting of FHLB advances. The pay-down of higher rate funding was completed throughout the third quarter of 2025, and thus the benefits (including interest expense savings) are only partially reflected in the results for the quarter.

The table below summarizes the impact of the loss on the sale of securities, as well as other certain items, consisting primarily of branch right sizing costs, early retirement program costs 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

 3Q25

 2Q25

  3Q24

Net income (loss)

$ (562.8)

$ 54.8

$ 24.7

Branch right sizing costs, net

2.0

0.2

0.4

Early retirement program costs

0.3

1.6

-

Loss on early extinguishment of debt

0.6

-

-

Loss on sale of securities

801.5

-

28.4

   Total pre-tax impact

804.4

1.8

28.8

Tax effect

(176.7)

(0.5)

(7.5)

   Total impact on earnings

627.7

1.3

21.3

Adjusted earnings1,3

$   64.9

$ 56.1

$ 46.0

Diluted EPS

$ (4.00)

$ 0.43

$ 0.20

Branch right sizing costs, net

0.01

-

-

Early retirement program costs

-

0.01

-

Loss on early extinguishment of debt

-

-

-

Loss on sale of securities

5.70

-

0.23

   Total pre-tax impact

5.71

0.01

0.23

Tax effect

(1.25)

-

(0.06)

   Total impact on earnings

4.46

0.01

0.17

Adjusted Diluted EPS1

$ 0.46

$ 0.44

$ 0.37

The Financial Highlights table below summarizes key financial metrics for the third quarter of 2025, the second quarter of 2025 and the third quarter of 2024.

Financial Highlights

   3Q25

   2Q25

   3Q24

3Q25 Highlights

Balance Sheet (in millions)

Comparisons reflect 3Q25 vs 2Q25
unless otherwise noted

Total loans

$17,189

$17,111

$17,336

Total investment securities

3,319

5,997

6,350

Net loss of $562.8 million and
diluted EPS of $(4.00)
Adjusted net income1 of $64.9
million and adjusted diluted
EPS1 of $0.46
Total revenue of $(569.5)
million and PPNR1 of $(711.6)
million
Adjusted total revenue1 of
$232.5 million and adjusted
PPNR1 of $92.8 million
Net interest income up $14.8
million, or 9 percent
Net interest margin up 44 basis
points to 3.50%; the 6th
consecutive quarterly increase
in net interest margin
Pricing discipline led to 5 basis
point increase in loan yields
Cost of deposits down 11 bps;
reduction in higher rate funding
only partially reflected in 3Q25
results
NCO ratio of 25 bps in 3Q24;
provision for credit losses on
loans exceeded net charge-offs
by $4.5 million
ACL ratio up 2 bps to 1.50%

Total deposits

19,838

21,825

21,935

Total assets

24,208

26,694

27,269

Total shareholders' equity

3,354

3,549

3,529

Performance Measures (in millions)

Total revenue

$(569.5)

$214.2

$174.8

Adjusted total revenue1

232.5

214.2

203.2

Pre-provision net revenue1 (PPNR)

(711.6)

75.6

37.6

Adjusted pre-provision net revenue1

92.8

77.3

66.4

Provision for credit losses

12.0

11.9

12.1

Per share Data

Diluted earnings

$  (4.00)

$    0.43

$  0.20

Adjusted diluted earnings1

0.46

0.44

0.37

Cash dividend declared

0.2125

0.2125

0.21

Asset Quality

Net charge-off ratio (NCO ratio)

0.25 %

0.25 %

0.22 %

Nonperforming loan ratio

0.90

0.92

0.59

Nonperforming assets to total assets

0.66

0.62

0.38

Allowance for credit losses to loans (ACL)

1.50

1.48

1.35

Nonperforming loan coverage ratio

168

161

229

Capital Ratios

Equity to assets (EA ratio)

13.85 %

13.30 %

12.94 %

Tangible common equity (TCE) ratio1

8.53

8.46

8.15

Common equity tier 1 (CET1) ratio

11.54

12.36

12.06

Total risk-based capital ratio

15.07

14.42

14.25

Other Data

Net interest margin (FTE)

3.50 %

3.06 %

2.74 %

Loan yield (FTE)

6.31

6.26

6.44

Cost of deposits

2.25

2.36

2.79

Full-time equivalent employees

2,883

2,947

2,972

Number of financial centers

223

223

234

Net Interest Income
Net interest income for the third quarter of 2025 totaled $186.7 million, up $14.8 million, or 9 percent, compared to $171.8 million in the second quarter of 2025 and up $28.9 million, or 18 percent, from $157.7 million in the third quarter of 2024. Interest income totaled $313.4 million for the third quarter of 2025, compared to $315.0 million in the second quarter of 2025 and $334.3 million in the third quarter of 2024. The decrease in interest income on a linked quarter basis was primarily due to a decline in the level of interest income derived from investment securities resulting from the balance sheet repositioning undertaken in the third quarter of 2025 that included the sale of lower-yielding investment securities, that was offset by increases in interest income from loans and other earning assets. Interest expense totaled $126.8 million for the third quarter of 2025, compared to $143.2 million in the second quarter of 2025 and $176.6 million in the third quarter of 2024. The decrease in interest expense on a linked quarter basis was primarily due to a reduction of higher rate, non-relationship wholesale and public fund deposits as part of the balance sheet repositioning.

Select Yield/Rates

      3Q25

      2Q25

      1Q25

      4Q24

     3Q24

Loan yield (FTE)2

6.31 %

6.26 %

6.20 %

6.32 %

6.44 %

Investment securities yield (FTE)2

4.01

3.48

3.48

3.54

3.63

Cost of interest bearing deposits

2.86

2.97

3.05

3.28

3.52

Cost of deposits

2.25

2.36

2.44

2.60

2.79

Net interest spread (FTE)2

2.86

2.41

2.30

2.15

1.95

Net interest margin (FTE)2

3.50

3.06

2.95

2.87

2.74

Noninterest Income
Noninterest income for the third quarter of 2025 was $(756.2) million, compared to $42.4 million in the second quarter of 2025 and $17.1 million in the third quarter of 2024. Included in third quarter 2025 results was a $801.5 million pre-tax loss on the sale of low-yielding securities that were sold in connection with the previously mentioned balance sheet repositioning and $0.6 million loss on the early extinguishment of debt. The third quarter of 2024 included a $28.4 million pre-tax loss on the sale of low-yielding securities. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" tables below), adjusted noninterest income1 was $45.9 million for the third quarter of 2025, $42.4 million in the second quarter of 2025 and $45.5 million in the third quarter of 2024. The increase in adjusted noninterest income on a linked quarter basis was broad based, led by an increase in mortgage lending income and a Small Business Investment Company (SBIC) negative valuation adjustment in the second quarter of 2025, which is included in other income in the table below.

Noninterest Income

$ in millions

3Q25

     2Q25

      1Q25

     4Q24

     3Q24

Service charges on deposit accounts

$    13.0

$ 12.6

$ 12.6

$ 13.0

$ 12.7

Wealth management fees

10.0

9.5

9.6

9.7

9.1

Debit and credit card fees

8.5

8.6

8.4

8.3

8.1

Mortgage lending income

2.3

1.7

2.0

1.8

2.0

Other service charges and fees

1.5

1.3

1.3

1.4

1.5

Bank owned life insurance

3.9

3.9

4.1

3.8

3.8

Gain (loss) on sale of securities

(801.5)

-

-

-

(28.4)

Other income

6.1

4.8

8.0

5.6

8.3

   Total noninterest income

$(756.2)

$ 42.4

$ 46.2

$ 43.6

$ 17.1

Adjusted noninterest income1

$ 45.9

$ 42.4

$ 46.2

$ 43.6

$ 45.5

Noninterest Expense
Noninterest expense for the third quarter of 2025 was $142.0 million, compared to $138.6 million in the second quarter of 2025 and $137.2 million in the third quarter of 2024. Included in noninterest expense are certain items consisting of branch right sizing costs, early retirement program costs and termination of vendor and software services. Collectively, these items totaled $2.3 million in the third quarter of 2025, $1.8 million in the second quarter of 2025 and $0.4 million in the third quarter of 2024. Excluding these items (which are described in the "Reconciliation of Non-GAAP Financial Measures" tables below), adjusted noninterest expense1 was $139.7 million for the third quarter of 2025, and $136.8 million in both the second quarter of 2025 and third quarter of 2024. The increase in adjusted noninterest expense on a linked quarter basis primarily reflected salary and employee benefits accrual adjustments given the Company's financial performance through the third quarter of 2025 and a $1.6 million fraud recovery in the third quarter of 2025.

Noninterest Expense

$ in millions

 3Q25

  2Q25

 1Q25

 4Q24

      3Q24

Salaries and employee benefits

$  76.2

$  73.9

$  74.8

$  71.6

$  69.2

Occupancy expense, net

12.1

11.8

12.7

11.9

12.2

Furniture and equipment

5.3

5.5

5.5

5.7

5.6

Deposit insurance

5.2

4.9

5.4

5.6

5.6

Other real estate and foreclosure expense

0.2

0.2

0.2

0.3

0.1

Other operating expenses

43.0

42.3

46.1

46.1

44.5

   Total noninterest expense

$142.0

$138.6

$144.6

$141.1

$137.2

Adjusted salaries and employee benefits1

$  75.9

$  72.3

$  74.8

$  71.4

$  69.2

Adjusted other operating expenses1

41.5

42.5

45.9

44.7

44.4

Adjusted noninterest expense1

139.7

136.8

143.6

139.3

136.8

Efficiency ratio

(25.11) %

62.82 %

66.94 %

65.66 %

75.70 %

Adjusted efficiency ratio1

57.72

60.52

64.75

62.89

63.38

Full-time equivalent employees

2,883

2,947

2,949

2,946

2,972

Number of financial centers

223

223

222

222

234

Loans and Unfunded Loan Commitments
Total loans at the end of the third quarter of 2025 were $17.2 billion, up 2 percent on a linked quarter annualized basis. The increase in total loans was driven by increases in mortgage warehouse, real estate – construction and agricultural, offset in part by declines in real estate – commercial and commercial portfolios. Unfunded loan commitments at the end of the third quarter of 2025 were $4.0 billion, compared to $3.9 billion at the end of the second quarter of 2025. This marked the fourth consecutive quarterly increase in unfunded loan commitments. The commercial loan pipeline totaled $1.6 billion at the end of the third quarter of 2025, and ready to close commercial loans totaled $490 million with a weighted average rate of 7.19 percent.

Loans and Unfunded Loan Commitments 

$ in millions

3Q25

      2Q25

      1Q25

      4Q24

      3Q24

Total loans

$17,189

$17,111

$17,094

$17,006

$17,336

Unfunded loan commitments

3,955

3,947

3,888

3,739

3,681

Deposits and Other Borrowings
Total deposits at the end of the third quarter of 2025 were $19.8 billion, compared to $21.8 billion at the end of the second quarter of 2025 and $21.9 billion at the end of the third quarter of 2024. The decrease in total deposits reflects a reduction of higher rate, non-relationship wholesale and public fund deposits as part of the balance sheet repositioning previously mentioned. At the same time, the overall mix of deposits improved with noninterest bearing deposits representing 22.1 percent of total deposits at the end of the third quarter of 2025, compared to 20.5 percent at the end of the second quarter of 2025. Interest bearing transaction accounts (excluding interest bearing public funds) represent 42.8 percent of total deposits at the end of the third quarter of 2025, compared to 39.0 percent at the end of the second quarter of 2025.

Other borrowings at the end of the third quarter of 2025 were $18.8 million, compared to $634.3 million at the end of the second quarter of 2025 and $1.0 billion at the end of the third quarter of 2024. The decrease in other borrowings on a linked quarter basis and year-over-year basis reflected the pay down of higher cost wholesale funding, primarily FHLB advances, as part of the balance sheet repositioning.  

Deposits

$ in millions

 3Q25

 2Q25

 1Q25

 4Q24

 3Q24

Noninterest bearing deposits

$  4,377

$  4,468

$  4,455

$  4,461

$  4,522

Interest bearing transaction accounts

10,289

10,532

10,621

10,331

10,038

Time deposits

3,331

3,588

3,695

3,796

4,014

Brokered deposits

1,841

3,237

2,914

3,298

3,361

   Total deposits

$19,838

$21,825

$21,684

$21,886

$21,935

Noninterest bearing deposits to total deposits

22 %

20 %

21 %

20 %

21 %

Total loans to total deposits

87

78

79

78

79

Asset Quality
Total nonperforming loans at the end of the third quarter of 2025 totaled $153.9 million, compared to $157.2 million at the end of the second quarter of 2025 and $101.7 million at the end of the third quarter of 2024. The decrease in nonperforming loans on a linked quarter basis primarily reflected declines in commercial and real estate – single family loan portfolios, offset in part by an increase in the real estate – commercial portfolio. The increase in nonperforming loans on a year-over-year basis was primarily due to two specific credit relationships that were placed on nonaccrual at the end of first quarter of 2025. The nonperforming loan coverage ratio ended the third quarter of 2025 at 168 percent, compared to 161 percent at the end of the second quarter of 2025 and 229 percent at the end of the third quarter of 2024. Total nonperforming assets as a percentage of total assets were 66 basis points at the end of the third quarter of 2025, compared to 62 basis points at the end of the second quarter of 2025 and 38 basis points at the end of the third quarter of 2024. 

Provision for credit losses on loans totaled $15.2 million for the third quarter of 2025, compared to $11.9 million in the second quarter of 2025 and $12.1 million in the third quarter of 2024. The allowance for credit losses on loans at the end of the third quarter of 2025 was $258.0 million, compared to $253.5 million at the end of the second quarter of 2025 and $233.2 million at the end of the third quarter of 2024. The allowance for credit losses on loans as a percentage of total loans was 1.50 percent at the end of the third quarter of 2025, compared to 1.48 percent at the end of the second quarter of 2025 and 1.35 percent at the end of the third quarter of 2024.

Net charge-offs as a percentage of average loans for the third quarter of 2025 were 25 basis points, unchanged from second quarter 2025 levels and up slightly from 22 basis points in the third quarter of 2024. Provision for credit losses on loans exceeded net charge-offs by $4.5 million in the third quarter of 2025, $1.4 million in the second quarter of 2025 and $2.8 million in the third quarter of 2024.

Asset Quality

$ in millions

  3Q25

  2Q25

     1Q25

      4Q24

     3Q24

Allowance for credit losses on loans to total loans

1.50 %

1.48 %

1.48 %

1.38 %

1.35 %

Allowance for credit losses on loans to nonperforming loans

168

161

165

212

229

Nonperforming loans to total loans

0.90

0.92

0.89

0.65

0.59

Net charge-off ratio (annualized)

0.25

0.25

0.23

0.27

0.22

Net charge-off ratio YTD (annualized)

0.24

0.24

0.23

0.22

0.20

Total nonperforming loans

$153.9

$157.2

$152.3

$110.7

$101.7

Total other nonperforming assets

6.8

9.5

10.0

10.5

2.6

   Total nonperforming assets

$160.7

$166.7

$162.3

$121.2

$104.3

Reserve for unfunded commitments

$25.6

$25.6

$25.6

$25.6

$25.6

Capital and Subordinated Debt
Total stockholders' equity at the end of the third quarter was $3.4 billion, compared to $3.5 billion at the end of both the second quarter of 2025 and the third quarter of 2024. The decrease on a linked quarter basis and year-over-year basis was primarily due to a decline in undivided profits, reflecting the loss on sale of securities, offset in part by net proceeds of approximately $327 million from a common equity offering completed prior to commencement of the balance sheet repositioning. Book value per share at the end of the third quarter of 2025 was $23.18, compared to $28.17 at the end of the second quarter of 2025 and $28.11 at the end of the third quarter of 2024. Tangible book value per share1 at the end of the third quarter of 2025 was $13.45, compared to $16.97 at the end of the second quarter of 2025 and $16.78 at the end of the third quarter of 2024. The decrease in book value per share and tangible book value per share was due to the loss on the sale of investment securities.

Total stockholders' equity as a percentage of total assets at the end of the third quarter of 2025 was 13.9 percent, compared to 13.3 percent at the end of the second quarter of 2025 and 12.9 percent at the end of the third quarter of 2024. Tangible common equity as a percentage of tangible assets1 was 8.5 percent at the end of both the third quarter of 2025 and second quarter of 2025, and 8.2 percent at the end of the third quarter of 2024. Each of the applicable regulatory capital ratios for Simmons and its principal subsidiary, Simmons Bank, continue to significantly exceed "well-capitalized" regulatory guidelines.

During the third quarter of 2025, the Company completed the offering and sale of $325 million in aggregate principal amount of its 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 (the "Notes"). The Notes were priced at par. The Company used the net proceeds from the offering, along with cash on hand, to repay in full the Company's outstanding $330 million principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2028, which was completed on October 1, 2025. Additionally, on July 31, 2025, the Company completed the redemption of the Company's outstanding $37 million principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2030.

Select Capital Ratios

      3Q25

      2Q25

      1Q25

     4Q24

     3Q24

Stockholders' equity to total assets

13.9 %

13.3 %

13.2 %

13.1 %

12.9 %

Tangible common equity to tangible assets1

8.5

8.5

8.3

8.3

8.2

Common equity tier 1 (CET1) ratio

11.5

12.4

12.2

12.4

12.1

Tier 1 leverage ratio

9.6

10.0

9.8

9.7

9.6

Tier 1 risk-based capital ratio

11.5

12.4

12.2

12.4

12.1

Total risk-based capital ratio

15.1

14.4

14.6

14.6

14.3

Share Repurchase Program
During the third quarter of 2025, Simmons did not repurchase shares under its stock repurchase program that was authorized in January 2024 (2024 Program), which replaced its former repurchase program that was authorized in January 2022. Remaining authorization under the 2024 Program as of September 30, 2025, was approximately $175 million. The timing, pricing and amount of any repurchases under the 2024 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 2024 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 17, 2025. 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 10203266. 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 116 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 Greatest Workplaces 2025 in Arkansas. In 2024, Simmons Bank was recognized by Newsweek as one of America's Best Regional Banks 2025, by U.S. News & World Report as one of the 2024-2025 Best Companies to Work For in the South and by Forbes as one of America's Best-In-State Banks 2024 in Tennessee and America's Best-In-State Employers 2024 in Missouri. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on X (formerly Twitter) 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, losses on sale of securities, net branch right-sizing initiatives, early retirement program, termination of vendor and software services and losses 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, or the aforementioned two specific credit relationships. 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. Makris'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 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; 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, 2024, the Company's Form 10-Q for the quarter ended June 30, 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 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2025

2025

2025

2024

2024

($ in thousands)

 ASSETS 

 Cash and noninterest bearing balances due from banks 

$         377,604

$         398,081

$         423,171

$         429,705

$         398,321

 Interest bearing balances due from banks and federal funds sold 

266,013

246,381

211,115

257,672

205,081

     Cash and cash equivalents 

643,617

644,462

634,286

687,377

603,402

 Interest bearing balances due from banks - time 

100

100

100

100

100

 Investment securities - held-to-maturity 

-

3,591,531

3,615,556

3,636,636

3,658,700

 Investment securities - available-for-sale 

3,319,277

2,405,320

2,491,849

2,529,426

2,691,094

 Mortgage loans held for sale 

15,507

16,972

8,351

11,417

8,270

 Assets held in trading accounts 

12,695

-

-

-

-

 Loans: 

 Loans 

17,188,817

17,111,096

17,094,078

17,005,937

17,336,040

 Allowance for credit losses on loans 

(258,006)

(253,537)

(252,168)

(235,019)

(233,223)

 Net loans 

16,930,811

16,857,559

16,841,910

16,770,918

17,102,817

 Premises and equipment 

568,343

573,160

573,616

585,431

584,366

 Foreclosed assets and other real estate owned 

6,386

8,794

8,976

9,270

1,299

 Interest receivable 

104,383

120,443

117,398

123,243

125,700

 Bank owned life insurance 

539,372

535,481

535,324

531,805

508,781

 Goodwill 

1,320,799

1,320,799

1,320,799

1,320,799

1,320,799

 Other intangible assets 

87,520

90,617

93,714

97,242

101,093

 Other assets 

659,352

528,382

551,112

572,385

562,983

 Total assets 

$    24,208,162

$    26,693,620

$    26,792,991

$    26,876,049

$    27,269,404

 LIABILITIES AND STOCKHOLDERS' EQUITY 

 Deposits: 

 Noninterest bearing transaction accounts 

$      4,377,232

$      4,468,237

$      4,455,255

$      4,460,517

$      4,521,715

 Interest bearing transaction accounts and savings deposits 

10,932,914

11,176,791

11,265,554

10,982,022

10,863,945

 Time deposits 

4,527,587

6,179,962

5,963,811

6,443,211

6,549,774

         Total deposits 

19,837,733

21,824,990

21,684,620

21,885,750

21,935,434

 Federal funds purchased and securities sold 

 under agreements to repurchase 

22,348

31,306

50,133

37,109

51,071

 Other borrowings 

18,832

634,349

884,863

745,372

1,045,878

 Subordinated notes and debentures 

651,250

366,369

366,331

366,293

366,255

 Accrued interest and other liabilities 

324,036

287,396

275,559

312,653

341,933

 Total liabilities 

20,854,199

23,144,410

23,261,506

23,347,177

23,740,571

 Stockholders' equity: 

 Common stock 

1,447

1,260

1,259

1,257

1,256

 Surplus 

2,848,977

2,518,286

2,515,372

2,511,590

2,508,438

 Undivided profits 

817,022

1,410,564

1,382,564

1,376,935

1,355,000

 Accumulated other comprehensive (loss) income 

(313,483)

(380,900)

(367,710)

(360,910)

(335,861)

 Total stockholders' equity 

3,353,963

3,549,210

3,531,485

3,528,872

3,528,833

 Total liabilities and stockholders' equity 

$    24,208,162

$    26,693,620

$    26,792,991

$    26,876,049

$    27,269,404

 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) 

2025

2025

2025

2024

2024

($ in thousands, except per share data)

 INTEREST INCOME 

    Loans (including fees) 

$     269,210

$   265,373

$   257,755

$   272,727

$   277,939

    Interest bearing balances due from banks and federal funds sold 

6,421

2,531

2,703

2,913

2,921

    Investment securities 

37,464

46,898

47,257

50,162

53,220

    Mortgage loans held for sale 

229

221

122

180

209

    Assets held in trading accounts 

99

-

-

-

-

            TOTAL INTEREST INCOME 

313,423

315,023

307,837

325,982

334,289

 INTEREST EXPENSE 

    Time deposits 

49,064

57,231

62,559

70,661

73,937

    Other deposits 

67,546

69,108

67,895

72,369

78,307

    Federal funds purchased and securities 

      sold under agreements to repurchase 

72

59

113

119

138

    Other borrowings 

2,957

10,613

7,714

11,386

17,067

    Subordinated notes and debentures 

7,123

6,188

6,134

6,505

7,128

            TOTAL INTEREST EXPENSE 

126,762

143,199

144,415

161,040

176,577

 NET INTEREST INCOME 

186,661

171,824

163,422

164,942

157,712

 PROVISION FOR CREDIT LOSSES 

    Provision for credit losses on loans 

15,180

11,945

26,797

13,332

12,148

            TOTAL PROVISION FOR CREDIT LOSSES 

11,966

11,945

26,797

13,332

12,148

 NET INTEREST INCOME AFTER PROVISION 

    FOR CREDIT LOSSES 

174,695

159,879

136,625

151,610

145,564

 NONINTEREST INCOME 

    Service charges on deposit accounts 

13,045

12,588

12,635

12,978

12,713

    Debit and credit card fees 

8,478

8,567

8,446

8,323

8,144

    Wealth management fees 

9,965

9,464

9,629

9,658

9,098

    Mortgage lending income 

2,259

1,687

2,013

1,828

1,956

    Bank owned life insurance income 

3,943

3,890

4,092

3,780

3,757

    Other service charges and fees (includes insurance income) 

1,474

1,321

1,333

1,426

1,509

    Gain (loss) on sale of securities 

(801,492)

-

-

-

(28,393)

    Other income 

6,141

4,837

8,007

5,565

8,346

            TOTAL NONINTEREST INCOME 

(756,187)

42,354

46,155

43,558

17,130

 NONINTEREST EXPENSE 

    Salaries and employee benefits 

76,249

73,862

74,824

71,588

69,167

    Occupancy expense, net 

12,106

11,844

12,651

11,876

12,216

    Furniture and equipment expense 

5,275

5,474

5,465

5,671

5,612

    Other real estate and foreclosure expense 

200

216

198

317

87

    Deposit insurance 

5,175

4,917

5,391

5,550

5,571

    Other operating expenses 

43,027

42,276

46,051

46,115

44,540

            TOTAL NONINTEREST EXPENSE 

142,032

138,589

144,580

141,117

137,193

 NET INCOME (LOSS) BEFORE INCOME TAXES 

(723,524)

63,644

38,200

54,051

25,501

    Provision for income taxes 

(160,732)

8,871

5,812

5,732

761

 NET INCOME (LOSS) 

$    (562,792)

$     54,773

$     32,388

$     48,319

$     24,740

 BASIC EARNINGS PER SHARE 

$          (4.01)

$         0.43

$         0.26

$         0.38

$         0.20

 DILUTED EARNINGS PER SHARE 

$          (4.00)

$         0.43

$         0.26

$         0.38

$         0.20

 Simmons First National Corporation 

 SFNC 

 Consolidated Risk-Based Capital 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2025

2025

2025

2024

2024

($ in thousands)

Tier 1 capital

   Stockholders' equity

$      3,353,963

$      3,549,210

$      3,531,485

$      3,528,872

$      3,528,833

   CECL transition provision (1)

-

-

-

30,873

30,873

   Disallowed intangible assets, net of deferred tax

(1,376,255)

(1,379,104)

(1,381,953)

(1,385,128)

(1,388,549)

   Unrealized loss (gain) on AFS securities

313,483

380,900

367,710

360,910

335,861

      Total Tier 1 capital

2,291,191

2,551,006

2,517,242

2,535,527

2,507,018

Tier 2 capital

   Subordinated notes and debentures

651,250

366,369

366,331

366,293

366,255

   Subordinated debt phase out

(198,000)

(198,000)

(132,000)

(132,000)

(132,000)

   Qualifying allowance for loan losses and

      reserve for unfunded commitments

248,710

258,079

257,769

222,313

220,517

      Total Tier 2 capital

701,960

426,448

492,100

456,606

454,772

      Total risk-based capital

$      2,993,151

$      2,977,454

$      3,009,342

$      2,992,133

$      2,961,790

Risk weighted assets

$    19,861,879

$    20,646,324

$    20,621,540

$    20,473,960

$    20,790,941

Adjusted average assets for leverage ratio

$    23,963,356

$    25,606,135

$    25,619,424

$    26,037,459

$    26,198,178

Ratios at end of quarter

   Equity to assets

13.85 %

13.30 %

13.18 %

13.13 %

12.94 %

   Tangible common equity to tangible assets (2)

8.53 %

8.46 %

8.34 %

8.29 %

8.15 %

   Common equity Tier 1 ratio (CET1)

11.54 %

12.36 %

12.21 %

12.38 %

12.06 %

   Tier 1 leverage ratio

9.56 %

9.96 %

9.83 %

9.74 %

9.57 %

   Tier 1 risk-based capital ratio

11.54 %

12.36 %

12.21 %

12.38 %

12.06 %

   Total risk-based capital ratio

15.07 %

14.42 %

14.59 %

14.61 %

14.25 %

(1) The Company has elected to use the CECL transition provision allowed for in the year of adopting ASC 326.

(2) 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) 

2025

2025

2025

2024

2024

($ in thousands)

Investment Securities - End of Period

 Held-to-Maturity 

    U.S. Government agencies 

$                 -

$        457,228

$        456,545

$        455,869

$        455,179

    Mortgage-backed securities 

-

1,024,313

1,048,170

1,070,032

1,093,070

    State and political subdivisions 

-

1,855,614

1,856,905

1,857,177

1,857,283

    Other securities 

-

254,376

253,936

253,558

253,168

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

-

3,591,531

3,615,556

3,636,636

3,658,700

 Available-for-Sale 

    U.S. Treasury 

$                 -

$               400

$               699

$               996

$            1,290

    U.S. Government agencies 

48,355

49,498

52,318

54,547

58,397

    Mortgage-backed securities 

2,249,593

1,349,991

1,380,913

1,392,759

1,510,402

    State and political subdivisions 

845,371

807,842

832,898

858,182

898,178

    Other securities 

175,958

197,589

225,021

222,942

222,827

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

3,319,277

2,405,320

2,491,849

2,529,426

2,691,094

       Total investment securities (net of credit losses) 

$     3,319,277

$     5,996,851

$     6,107,405

$     6,166,062

$     6,349,794

       Fair value - HTM investment securities 

$                 -

$     2,891,974

$     2,929,625

$     2,949,951

$     3,109,610

 Simmons First National Corporation 

 SFNC 

 Consolidated Loans 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2025

2025

2025

2024

2024

($ in thousands)

Loan Portfolio - End of Period

 Consumer: 

    Credit cards 

$         173,020

$         176,166

$         179,680

$         181,675

$         177,696

    Other consumer 

112,335

123,831

97,198

127,319

113,896

 Total consumer 

285,355

299,997

276,878

308,994

291,592

 Real Estate: 

    Construction 

2,874,823

2,784,578

2,778,245

2,789,249

2,796,378

    Single-family residential 

2,617,849

2,625,717

2,647,451

2,689,946

2,724,648

    Other commercial real estate 

7,875,649

7,961,412

8,051,304

7,912,336

7,992,437

 Total real estate 

13,368,321

13,371,707

13,477,000

13,391,531

13,513,463

 Commercial: 

    Commercial 

2,397,388

2,440,507

2,372,681

2,434,175

2,467,384

    Agricultural 

353,181

333,078

264,469

261,154

314,340

 Total commercial 

2,750,569

2,773,585

2,637,150

2,695,329

2,781,724

 Other 

784,572

665,807

703,050

610,083

749,261

       Total loans 

$    17,188,817

$    17,111,096

$    17,094,078

$    17,005,937

$    17,336,040

 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) 

2025

2025

2025

2024

2024

($ in thousands)

Allowance for Credit Losses on Loans

 Beginning balance 

$      253,537

$      252,168

$      235,019

$      233,223

$      230,389

 Loans charged off: 

    Credit cards 

1,862

1,702

1,460

1,629

1,744

    Other consumer 

600

351

1,133

505

524

    Real estate 

1,350

1,450

4,425

3,810

159

    Commercial 

8,079

8,257

4,243

6,796

8,235

       Total loans charged off 

11,891

11,760

11,261

12,740

10,662

 Recoveries of loans previously charged off: 

    Credit cards 

257

334

211

391

231

    Other consumer 

303

294

306

279

275

    Real estate 

115

87

99

275

403

    Commercial 

505

469

997

259

439

       Total recoveries 

1,180

1,184

1,613

1,204

1,348

    Net loans charged off 

10,711

10,576

9,648

11,536

9,314

 Provision for credit losses on loans 

15,180

11,945

26,797

13,332

12,148

 Balance, end of quarter 

$      258,006

$      253,537

$      252,168

$      235,019

$      233,223

Nonperforming assets

 Nonperforming loans: 

    Nonaccrual loans 

$      153,516

$      156,453

$      151,897

$      110,154

$      100,865

    Loans past due 90 days or more 

423

709

494

603

830

       Total nonperforming loans 

153,939

157,162

152,391

110,757

101,695

 Other nonperforming assets: 

   Foreclosed assets and other real estate owned

6,386

8,794

8,976

9,270

1,299

    Other nonperforming assets 

392

759

978

1,202

1,311

       Total other nonperforming assets 

6,778

9,553

9,954

10,472

2,610

          Total nonperforming assets 

$      160,717

$      166,715

$      162,345

$      121,229

$      104,305

Ratios

 Allowance for credit losses on loans to total loans 

1.50 %

1.48 %

1.48 %

1.38 %

1.35 %

 Allowance for credit losses to nonperforming loans 

168 %

161 %

165 %

212 %

229 %

 Nonperforming loans to total loans 

0.90 %

0.92 %

0.89 %

0.65 %

0.59 %

 Nonperforming assets to total assets 

0.66 %

0.62 %

0.61 %

0.45 %

0.38 %

 Annualized net charge offs to average loans (QTD) 

0.25 %

0.25 %

0.23 %

0.27 %

0.22 %

 Annualized net charge offs to average loans (YTD) 

0.24 %

0.24 %

0.23 %

0.22 %

0.20 %

 Annualized net credit card charge offs to 

   average credit card loans (QTD) 

3.64 %

2.99 %

2.72 %

2.63 %

3.23 %

 Simmons First National Corporation 

 SFNC 

 Consolidated - Average Balance Sheet and Net Interest Income Analysis 

 For the Quarters Ended 

 (Unaudited) 

 Three Months Ended
Sep 2025 

 Three Months Ended
Jun 2025 

 Three Months Ended
Sep 2024 

 ($ 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

$          566,344

$       6,421

4.50 %

$         219,928

$       2,531

4.62 %

$         204,505

$       2,921

5.68 %

   Investment securities - taxable

2,751,493

29,183

4.21 %

3,483,805

31,233

3.60 %

3,826,934

37,473

3.90 %

   Investment securities - non-taxable (FTE)

1,242,936

11,210

3.58 %

2,564,037

21,210

3.32 %

2,617,532

21,318

3.24 %

   Mortgage loans held for sale

13,776

229

6.60 %

13,063

221

6.79 %

12,425

209

6.69 %

   Assets held in trading accounts

11,305

99

3.47 %

-

-

0.00 %

-

-

0.00 %

   Other loans held for sale

-

-

0.00 %

-

-

0.00 %

-

-

0.00 %

   Loans - including fees (FTE)

16,976,231

270,092

6.31 %

17,046,802

266,250

6.26 %

17,208,162

278,766

6.44 %

      Total interest earning assets (FTE)

21,562,085

317,234

5.84 %

23,327,635

321,445

5.53 %

23,869,558

340,687

5.68 %

   Non-earning assets

3,352,837

3,317,496

3,346,882

     Total assets

$     24,914,922

$    26,645,131

$    27,216,440

LIABILITIES AND STOCKHOLDERS' EQUITY

Interest bearing liabilities:

   Interest bearing transaction and

     savings accounts

$     11,043,132

$     67,546

2.43 %

$    11,220,060

$     69,108

2.47 %

$    10,826,514

$     78,307

2.88 %

   Time deposits

5,116,070

49,064

3.80 %

5,820,499

57,231

3.94 %

6,355,801

73,937

4.63 %

      Total interest bearing deposits

16,159,202

116,610

2.86 %

17,040,559

126,339

2.97 %

17,182,315

152,244

3.52 %

   Federal funds purchased and securities

     sold under agreement to repurchase

23,306

72

1.23 %

32,565

59

0.73 %

51,830

138

1.06 %

   Other borrowings

268,278

2,957

4.37 %

960,817

10,613

4.43 %

1,252,435

17,067

5.42 %

   Subordinated notes and debentures

407,922

7,123

6.93 %

366,350

6,188

6.77 %

366,236

7,128

7.74 %

      Total interest bearing liabilities

16,858,708

126,762

2.98 %

18,400,291

143,199

3.12 %

18,852,816

176,577

3.73 %

Noninterest bearing liabilities:

   Noninterest bearing deposits

4,369,941

4,390,454

4,535,105

   Other liabilities

317,965

308,223

323,378

      Total liabilities

21,546,614

23,098,968

23,711,299

Stockholders' equity

3,368,308

3,546,163

3,505,141

      Total liabilities and stockholders' equity

$     24,914,922

$    26,645,131

$    27,216,440

Net interest income (FTE)

$   190,472

$   178,246

$   164,110

Net interest spread (FTE)

2.86 %

2.41 %

1.95 %

Net interest margin (FTE)

3.50 %

3.06 %

2.74 %

 Simmons First National Corporation 

 SFNC 

 Consolidated - Selected Financial Data 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2025

2025

2025

2024

2024

($ in thousands, except share data)

QUARTER-TO-DATE

Financial Highlights - As Reported

Net Income (loss)

$        (562,792)

$           54,773

$           32,388

$           48,319

$           24,740

Diluted earnings per share

(4.00)

0.43

0.26

0.38

0.20

Return on average assets

-8.96 %

0.82 %

0.49 %

0.71 %

0.36 %

Return on average common equity

-66.29 %

6.20 %

3.69 %

5.43 %

2.81 %

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

-113.56 %

10.73 %

6.61 %

9.59 %

5.27 %

Net interest margin (FTE)

3.50 %

3.06 %

2.95 %

2.87 %

2.74 %

Efficiency ratio (2)

-25.11 %

62.82 %

66.94 %

65.66 %

75.70 %

FTE adjustment

3,811

6,422

6,414

6,424

6,398

Average diluted shares outstanding

140,648,704

126,406,453

126,336,557

126,232,084

125,999,269

Cash dividends declared per common share

0.213

0.213

0.213

0.210

0.210

Accretable yield on acquired loans

725

1,263

1,084

1,863

1,496

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

Adjusted earnings

$            64,930

$           56,071

$           33,122

$           49,634

$           46,005

Adjusted diluted earnings per share

0.46

0.44

0.26

0.39

0.37

Adjusted return on average assets

1.03 %

0.84 %

0.50 %

0.73 %

0.67 %

Adjusted return on average common equity

7.65 %

6.34 %

3.77 %

5.57 %

5.22 %

Adjusted return on tangible common equity

13.62 %

10.97 %

6.75 %

9.83 %

9.34 %

Adjusted efficiency ratio (2)

57.72 %

60.52 %

64.75 %

62.89 %

63.38 %

YEAR-TO-DATE

Financial Highlights - GAAP

Net Income (loss)

$        (475,631)

$           87,161

$           32,388

$         152,693

$         104,374

Diluted earnings per share

(3.63)

0.69

0.26

1.21

0.83

Return on average assets

-2.44 %

0.66 %

0.49 %

0.56 %

0.51 %

Return on average common equity

-18.21 %

4.94 %

3.69 %

4.38 %

4.02 %

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

-30.13 %

8.67 %

6.61 %

7.96 %

7.39 %

Net interest margin (FTE)

3.17 %

3.01 %

2.95 %

2.74 %

2.70 %

Efficiency ratio (2)

-329.30 %

64.86 %

66.94 %

69.57 %

71.00 %

FTE adjustment

16,647

12,836

6,414

25,820

19,396

Average diluted shares outstanding

131,132,891

126,325,650

126,336,557

126,115,606

125,910,260

Cash dividends declared per common share

0.638

0.425

0.213

0.840

0.630

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

Adjusted earnings

$          154,123

$           89,193

$           33,122

$         177,887

$         128,253

Adjusted diluted earnings per share

1.18

0.71

0.26

1.41

1.02

Adjusted return on average assets

0.79 %

0.67 %

0.50 %

0.65 %

0.63 %

Adjusted return on average common equity

5.90 %

5.06 %

3.77 %

5.10 %

4.94 %

Adjusted return on tangible common equity

10.37 %

8.86 %

6.75 %

9.18 %

8.96 %

Adjusted efficiency ratio (2)

60.90 %

62.62 %

64.75 %

64.56 %

65.14 %

END OF PERIOD

Book value per share

$              23.18

$             28.17

$             28.04

$             28.08

$             28.11

Tangible book value per share

13.45

16.97

16.81

16.80

16.78

Shares outstanding

144,703,075

125,996,248

125,926,822

125,651,540

125,554,598

Full-time equivalent employees

2,883

2,947

2,949

2,946

2,972

Total number of financial centers

223

223

222

222

234

 (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) 

2025

2025

2025

2024

2024

 (in thousands, except per share data) 

QUARTER-TO-DATE

 Net income (loss) 

$      (562,792)

$          54,773

$          32,388

$          48,319

$          24,740

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

Early retirement program

305

1,594

-

200

(1)

Termination of vendor and software services

-

-

-

-

(13)

Loss (gain) on sale of securities

801,492

-

-

-

28,393

Branch right sizing (net)

2,004

163

994

1,581

410

Tax effect of certain items (1)

(176,649)

(459)

(260)

(466)

(7,524)

    Certain items, net of tax 

627,722

1,298

734

1,315

21,265

Adjusted earnings (non-GAAP) (2)

$          64,930

$          56,071

$          33,122

$          49,634

$          46,005

 Diluted earnings per share 

$            (4.00)

$              0.43

$              0.26

$              0.38

$              0.20

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

-

Early retirement program

-

0.01

-

-

-

Termination of vendor and software services

-

-

-

-

-

Loss (gain) on sale of securities

5.70

-

-

-

0.23

Branch right sizing (net)

0.01

-

-

0.01

-

Tax effect of certain items (1)

(1.25)

-

-

-

(0.06)

    Certain items, net of tax 

4.46

0.01

-

0.01

0.17

 Adjusted diluted earnings per share (non-GAAP) 

$              0.46

$              0.44

$              0.26

$              0.39

$              0.37

 (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 

$      (756,187)

$          42,354

$          46,155

$          43,558

$          17,130

Certain noninterest income items

Loss on early extinguishment of debt

570

-

-

-

-

Loss (gain) on sale of securities

801,492

-

-

-

28,393

    Adjusted noninterest income (non-GAAP) 

$          45,875

$          42,354

$          46,155

$          43,558

$          45,523

    Other income 

$            6,141

$            4,837

$            8,007

$            5,565

$            8,346

Certain other income items

Loss on early extinguishment of debt

570

-

-

-

-

    Adjusted other income (non-GAAP) 

$            6,711

$            4,837

$            8,007

$            5,565

$            8,346

    Noninterest expense 

$        142,032

$        138,589

$        144,580

$        141,117

$        137,193

Certain noninterest expense items

Early retirement program

(305)

(1,594)

-

(200)

1

Termination of vendor and software services

-

-

-

-

13

Branch right sizing expense

(2,004)

(163)

(994)

(1,581)

(410)

    Adjusted noninterest expense (non-GAAP) 

139,723

136,832

143,586

139,336

136,797

 Less: Fraud event 

-

-

(4,300)

-

-

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

$        139,723

$        136,832

$        139,286

$        139,336

$        136,797

    Salaries and employee benefits 

$          76,249

$          73,862

$          74,824

$          71,588

$          69,167

Certain salaries and employee benefits items

Early retirement program

(305)

(1,594)

-

(200)

1

Other

(1)

1

-

-

(1)

    Adjusted salaries and employee benefits (non-GAAP) 

$          75,943

$          72,269

$          74,824

$          71,388

$          69,167

    Other operating expenses 

$          43,027

$          42,276

$          46,051

$          46,115

$          44,540

Certain other operating expenses items

Termination of vendor and software services

-

-

-

-

13

Branch right sizing expense

(1,556)

255

(161)

(1,457)

(184)

    Adjusted other operating expenses (non-GAAP) 

$          41,471

$          42,531

$          45,890

$          44,658

$          44,369

 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) 

2025

2025

2025

2024

2024

 (in thousands, except per share data) 

YEAR-TO-DATE

 Net income (loss) 

$      (475,631)

$          87,161

$          32,388

$        152,693

$        104,374

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

FDIC Deposit Insurance special assessment

-

-

-

1,832

1,832

Early retirement program

1,899

1,594

-

536

336

Termination of vendor and software services

-

-

-

602

602

Loss (gain) on sale of securities

801,492

-

-

28,393

28,393

Branch right sizing (net)

3,161

1,157

994

2,746

1,165

Tax effect of certain items (1)

(177,368)

(719)

(260)

(8,915)

(8,449)

    Certain items, net of tax 

629,754

2,032

734

25,194

23,879

Adjusted earnings (non-GAAP) (2)

$        154,123

$          89,193

$          33,122

$        177,887

$        128,253

 Diluted earnings per share 

$            (3.63)

$              0.69

$              0.26

$              1.21

$              0.83

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

-

FDIC Deposit Insurance special assessment

-

-

-

0.02

0.02

Early retirement program

0.02

0.01

-

-

-

Termination of vendor and software services

-

-

-

-

-

Loss (gain) on sale of securities

6.11

-

-

0.23

0.23

Branch right sizing (net)

0.02

0.01

-

0.02

0.01

Tax effect of certain items (1)

(1.34)

-

-

(0.07)

(0.07)

    Certain items, net of tax 

4.81

0.02

-

0.20

0.19

 Adjusted diluted earnings per share (non-GAAP) 

$              1.18

$              0.71

$              0.26

$              1.41

$              1.02

 (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 

$      (667,678)

$          88,509

$          46,155

$        147,171

$        103,613

Certain noninterest income items

Loss on early extinguishment of debt

570

-

-

-

-

Loss (gain) on sale of securities

801,492

-

-

28,393

28,393

    Adjusted noninterest income (non-GAAP) 

$        134,384

$          88,509

$          46,155

$        175,564

$        132,006

    Other income 

$          18,985

$          12,844

$            8,007

$          27,493

$          21,928

Certain other income items

Loss on early extinguishment of debt

570

-

-

-

-

    Adjusted other income (non-GAAP) 

$          19,555

$          12,844

$            8,007

$          27,493

$          21,928

    Noninterest expense 

$        425,201

$        283,169

$        144,580

$        557,543

$        416,426

Certain noninterest expense items

Early retirement program

(1,899)

(1,594)

-

(536)

(336)

FDIC Deposit Insurance special assessment

-

-

-

(1,832)

(1,832)

Termination of vendor and software services

-

-

-

(602)

(602)

Branch right sizing expense

(3,161)

(1,157)

(994)

(2,746)

(1,165)

    Adjusted noninterest expense (non-GAAP) 

420,141

280,418

143,586

551,827

412,491

 Less: Fraud event 

(4,300)

(4,300)

(4,300)

-

-

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

$        415,841

$        276,118

$        139,286

$        551,827

$        412,491

    Salaries and employee benefits 

$        224,935

$        148,686

$          74,824

$        284,124

$        212,536

Certain salaries and employee benefits items

Early retirement program

(1,899)

(1,594)

-

(536)

(336)

Other

-

1

-

-

-

    Adjusted salaries and employee benefits (non-GAAP) 

$        223,036

$        147,093

$          74,824

$        283,588

$        212,200

    Other operating expenses 

$        131,354

$          88,327

$          46,051

$        178,520

$        132,405

Certain other operating expenses items

Termination of vendor and software services

-

-

-

(602)

(602)

Branch right sizing expense

(1,462)

94

(161)

(2,116)

(659)

    Adjusted other operating expenses (non-GAAP) 

$        129,892

$          88,421

$          45,890

$        175,802

$        131,144

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) 

2025

2025

2025

2024

2024

($ 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

$       3,353,963

$      3,549,210

$      3,531,485

$      3,528,872

$      3,528,833

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(87,520)

(90,617)

(93,714)

(97,242)

(101,093)

Total intangibles

(1,408,319)

(1,411,416)

(1,414,513)

(1,418,041)

(1,421,892)

Tangible common stockholders' equity

$       1,945,644

$      2,137,794

$      2,116,972

$      2,110,831

$      2,106,941

Total assets

$     24,208,162

$    26,693,620

$    26,792,991

$    26,876,049

$    27,269,404

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(87,520)

(90,617)

(93,714)

(97,242)

(101,093)

Total intangibles

(1,408,319)

(1,411,416)

(1,414,513)

(1,418,041)

(1,421,892)

Tangible assets

$     22,799,843

$    25,282,204

$    25,378,478

$    25,458,008

$    25,847,512

Ratio of common equity to assets

13.85 %

13.30 %

13.18 %

13.13 %

12.94 %

Ratio of tangible common equity to tangible assets

8.53 %

8.46 %

8.34 %

8.29 %

8.15 %

Calculation of Tangible Book Value per Share

Total common stockholders' equity

$       3,353,963

$      3,549,210

$      3,531,485

$      3,528,872

$      3,528,833

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(87,520)

(90,617)

(93,714)

(97,242)

(101,093)

Total intangibles

(1,408,319)

(1,411,416)

(1,414,513)

(1,418,041)

(1,421,892)

Tangible common stockholders' equity

$       1,945,644

$      2,137,794

$      2,116,972

$      2,110,831

$      2,106,941

Shares of common stock outstanding

144,703,075

125,996,248

125,926,822

125,651,540

125,554,598

Book value per common share

$              23.18

$             28.17

$             28.04

$             28.08

$             28.11

Tangible book value per common share

$              13.45

$             16.97

$             16.81

$             16.80

$             16.78

Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits

Uninsured deposits at Simmons Bank

$       9,565,766

$      8,407,847

$      8,614,833

$      8,467,291

$      8,355,496

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

2,169,362

2,691,215

3,005,328

2,790,339

2,710,167

Less: Intercompany eliminations

2,937,147

1,121,932

1,073,500

1,045,734

986,626

Total uninsured, non-collateralized deposits

$       4,459,257

$      4,594,700

$      4,536,005

$      4,631,218

$      4,658,703

FHLB borrowing availability

$       6,134,000

$      5,133,000

$      4,432,000

$      4,716,000

$      4,955,000

Unpledged securities

1,575,000

3,697,000

4,197,000

4,103,000

4,110,000

Fed funds lines, Fed discount window and

  Bank Term Funding Program (1)

1,824,000

1,894,000

1,780,000

2,081,000

2,109,000

Additional liquidity sources

$       9,533,000

$    10,724,000

$    10,409,000

$    10,900,000

$    11,174,000

Uninsured, non-collateralized deposit coverage ratio

2.1

2.3

2.3

2.4

2.4

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

Calculation of Net Charge Off Ratio

Net charge offs

$            10,711

$           10,576

$             9,648

$           11,536

$             9,314

Less: Net charge offs from run-off portfolio (1)

500

1,100

1,900

2,500

3,500

Net charge offs excluding run-off portfolio

$            10,211

$             9,476

$             7,748

$             9,036

$             5,814

Average total loans

$     16,976,231

$    17,046,802

$    16,920,050

$    17,212,034

$    17,208,162

Annualized net charge offs to average loans (NCO ratio)

0.25 %

0.25 %

0.23 %

0.27 %

0.22 %

NCO ratio, excluding net charge offs associated with run-off

portfolio (annualized)

0.24 %

0.22 %

0.19 %

0.21 %

0.13 %

 (1) Run-off portfolio consists of asset based lending and small equipment finance portfolios obtained in acquisitions. 

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) 

2025

2025

2025

2024

2024

($ in thousands)

Calculation of Adjusted Return on Average Assets

 Net income (loss) 

$           (562,792)

$               54,773

$               32,388

$               48,319

$               24,740

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

Early retirement program

305

1,594

-

200

(1)

Termination of vendor and software services

-

-

-

-

(13)

Loss (gain) on sale of securities

801,492

-

-

-

28,393

Branch right sizing (net)

2,004

163

994

1,581

410

Tax effect of certain items (2)

(176,649)

(459)

(260)

(466)

(7,524)

Adjusted earnings (non-GAAP)

$               64,930

$               56,071

$               33,122

$               49,634

$               46,005

Average total assets

$        24,914,922

$        26,645,131

$        26,678,628

$        27,078,943

$        27,216,440

Return on average assets

-8.96 %

0.82 %

0.49 %

0.71 %

0.36 %

Adjusted return on average assets (non-GAAP)

1.03 %

0.84 %

0.50 %

0.73 %

0.67 %

Calculation of Return on Tangible Common Equity

Net income (loss)  available to common stockholders

$           (562,792)

$               54,773

$               32,388

$               48,319

$               24,740

Amortization of intangibles, net of taxes

2,287

2,289

2,605

2,843

2,845

Total income available to common stockholders

$           (560,505)

$               57,062

$               34,993

$               51,162

$               27,585

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

Early retirement program

305

1,594

-

200

(1)

Termination of vendor and software services

-

-

-

-

(13)

Loss (gain) on sale of securities

801,492

-

-

-

28,393

Branch right sizing (net)

2,004

163

994

1,581

410

Tax effect of certain items (2)

(176,649)

(459)

(260)

(466)

(7,524)

Adjusted earnings (non-GAAP)

64,930

56,071

33,122

49,634

46,005

Amortization of intangibles, net of taxes

2,287

2,289

2,605

2,843

2,845

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

$               67,217

$               58,360

$               35,727

$               52,477

$               48,850

Average common stockholders' equity

$          3,368,308

$          3,546,163

$          3,564,469

$          3,543,146

$          3,505,141

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(89,349)

(92,432)

(95,787)

(99,405)

(103,438)

Total average intangibles

(1,410,148)

(1,413,231)

(1,416,586)

(1,420,204)

(1,424,237)

Average tangible common stockholders' equity (non-GAAP)

$          1,958,160

$          2,132,932

$          2,147,883

$          2,122,942

$          2,080,904

Return on average common equity

-66.29 %

6.20 %

3.69 %

5.43 %

2.81 %

Return on tangible common equity

-113.56 %

10.73 %

6.61 %

9.59 %

5.27 %

Adjusted return on average common equity (non-GAAP)

7.65 %

6.34 %

3.77 %

5.57 %

5.22 %

Adjusted return on tangible common equity (non-GAAP)

13.62 %

10.97 %

6.75 %

9.83 %

9.34 %

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$             142,032

$             138,589

$             144,580

$             141,117

$             137,193

Certain noninterest expense items (non-GAAP)

Early retirement program

(305)

(1,594)

-

(200)

1

Termination of vendor and software services

-

-

-

-

13

Branch right sizing expense

(2,004)

(163)

(994)

(1,581)

(410)

Other real estate and foreclosure expense adjustment

(200)

(216)

(198)

(317)

(87)

Amortization of intangibles adjustment

(3,097)

(3,098)

(3,527)

(3,850)

(3,851)

Adjusted efficiency ratio numerator

$             136,426

$             133,518

$             139,861

$             135,169

$             132,859

Net interest income

$             186,661

$             171,824

$             163,422

$             164,942

$             157,712

Noninterest income

(756,187)

42,354

46,155

43,558

17,130

Fully tax-equivalent adjustment (effective tax rate of 26.135%)

3,811

6,422

6,414

6,424

6,398

Efficiency ratio denominator

(565,715)

220,600

215,991

214,924

181,240

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

(Gain) loss on sale of securities

801,492

-

-

-

28,393

Adjusted efficiency ratio denominator

$             236,347

$             220,600

$             215,991

$             214,924

$             209,633

Efficiency ratio (1)

-25.11 %

62.82 %

66.94 %

65.66 %

75.70 %

Adjusted efficiency ratio (non-GAAP) (1)

57.72 %

60.52 %

64.75 %

62.89 %

63.38 %

 (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 - Quarter-to-Date (continued) 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2025

2025

2025

2024

2024

($ in thousands)

Calculation of Total Revenue and Adjusted Total Revenue

Net interest income

$             186,661

$             171,824

$             163,422

$             164,942

$             157,712

Noninterest income

(756,187)

42,354

46,155

43,558

17,130

Total revenue

(569,526)

214,178

209,577

208,500

174,842

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

570

-

-

-

-

Less: Gain (loss) on sale of securities

(801,492)

-

-

-

(28,393)

Adjusted total revenue

$             232,536

$             214,178

$             209,577

$             208,500

$             203,235

Calculation of Pre-Provision Net Revenue (PPNR)

Net interest income

$             186,661

$             171,824

$             163,422

$             164,942

$             157,712

Noninterest income

(756,187)

42,354

46,155

43,558

17,130

Total revenue

(569,526)

214,178

209,577

208,500

174,842

Less: Noninterest expense

142,032

138,589

144,580

141,117

137,193

Pre-Provision Net Revenue (PPNR)

$           (711,558)

$               75,589

$               64,997

$               67,383

$               37,649

Calculation of Adjusted Pre-Provision Net Revenue

Pre-Provision Net Revenue (PPNR)

$           (711,558)

$               75,589

$               64,997

$               67,383

$               37,649

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

570

-

-

-

-

Plus: Loss (gain) on sale of securities

801,492

-

-

-

28,393

Plus: Early retirement program costs

305

1,594

-

200

(1)

Plus: Termination of vendor and software services

-

-

-

-

(13)

Plus: Branch right sizing costs (net)

2,004

163

994

1,581

410

Adjusted Pre-Provision Net Revenue

$               92,813

$               77,346

$               65,991

$               69,164

$               66,438

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) 

2025

2025

2025

2024

2024

($ in thousands)

Calculation of Adjusted Return on Average Assets

 Net income (loss) 

$           (475,631)

$               87,161

$               32,388

$             152,693

$             104,374

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

FDIC Deposit Insurance special assessment

-

-

-

1,832

1,832

Early retirement program

1,899

1,594

-

536

336

Termination of vendor and software services

-

-

-

602

602

Loss (gain) on sale of securities

801,492

-

-

28,393

28,393

Branch right sizing (net)

3,161

1,157

994

2,746

1,165

Tax effect of certain items (2)

(177,368)

(719)

(260)

(8,915)

(8,449)

Adjusted earnings (non-GAAP)

$             154,123

$               89,193

$               33,122

$             177,887

$             128,253

Average total assets

$        26,073,100

$        26,661,787

$        26,678,628

$        27,214,647

$        27,260,212

Return on average assets

-2.44 %

0.66 %

0.49 %

0.56 %

0.51 %

Adjusted return on average assets (non-GAAP)

0.79 %

0.67 %

0.50 %

0.65 %

0.63 %

Calculation of Return on Tangible Common Equity

Net income (loss)  available to common stockholders

$           (475,631)

$               87,161

$               32,388

$             152,693

$             104,374

Amortization of intangibles, net of taxes

7,181

4,894

2,605

11,377

8,534

Total income available to common stockholders

$           (468,450)

$               92,055

$               34,993

$             164,070

$             112,908

Certain items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

FDIC Deposit Insurance special assessment

-

-

-

1,832

1,832

Early retirement program

1,899

1,594

-

536

336

Termination of vendor and software services

-

-

-

602

602

Loss (gain) on sale of securities

801,492

-

-

28,393

28,393

Branch right sizing (net)

3,161

1,157

994

2,746

1,165

Tax effect of certain items (2)

(177,368)

(719)

(260)

(8,915)

(8,449)

Adjusted earnings (non-GAAP)

154,123

89,193

33,122

177,887

128,253

Amortization of intangibles, net of taxes

7,181

4,894

2,605

11,377

8,534

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

$             161,304

$               94,087

$               35,727

$             189,264

$             136,787

Average common stockholders' equity

$          3,492,261

$          3,555,265

$          3,564,469

$          3,486,822

$          3,467,908

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(92,499)

(94,100)

(95,787)

(105,239)

(107,197)

Total average intangibles

(1,413,298)

(1,414,899)

(1,416,586)

(1,426,038)

(1,427,996)

Average tangible common stockholders' equity (non-GAAP)

$          2,078,963

$          2,140,366

$          2,147,883

$          2,060,784

$          2,039,912

Return on average common equity

-18.21 %

4.94 %

3.69 %

4.38 %

4.02 %

Return on tangible common equity

-30.13 %

8.67 %

6.61 %

7.96 %

7.39 %

Adjusted return on average common equity (non-GAAP)

5.90 %

5.06 %

3.77 %

5.10 %

4.94 %

Adjusted return on tangible common equity (non-GAAP)

10.37 %

8.86 %

6.75 %

9.18 %

8.96 %

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$             425,201

$             283,169

$             144,580

$             557,543

$             416,426

Certain noninterest expense items (non-GAAP)

Early retirement program

(1,899)

(1,594)

-

(536)

(336)

FDIC Deposit Insurance special assessment

-

-

-

(1,832)

(1,832)

Termination of vendor and software services

-

-

-

(602)

(602)

Branch right sizing expense

(3,161)

(1,157)

(994)

(2,746)

(1,165)

Other real estate and foreclosure expense adjustment

(614)

(414)

(198)

(700)

(383)

Amortization of intangibles adjustment

(9,722)

(6,625)

(3,527)

(15,403)

(11,553)

Adjusted efficiency ratio numerator

$             409,805

$             273,379

$             139,861

$             535,724

$             400,555

Net interest income

$             521,907

$             335,246

$             163,422

$             628,465

$             463,523

Noninterest income

(667,678)

88,509

46,155

147,171

103,613

Fully tax-equivalent adjustment (effective tax rate of 26.135%)

16,647

12,836

6,414

25,820

19,396

Efficiency ratio denominator

(129,124)

436,591

215,991

801,456

586,532

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

570

-

-

-

-

(Gain) loss on sale of securities

801,492

-

-

28,393

28,393

Adjusted efficiency ratio denominator

$             672,938

$             436,591

$             215,991

$             829,849

$             614,925

Efficiency ratio (1)

-329.30 %

64.86 %

66.94 %

69.57 %

71.00 %

Adjusted efficiency ratio (non-GAAP) (1)

60.90 %

62.62 %

64.75 %

64.56 %

65.14 %

 (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

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