Track market-moving stories before they get noisy

Micron Technology (MU +1.87%) just closed out one of the strangest, most extraordinary fiscal years a chipmaker has ever posted. Revenue in its fiscal 2026 hit $133.2 billion, up 256% from the year before, earnings soared almost tenfold from $7.59 per share to $74.33 per share, and the company went from an afterthought in most portfolios to a roughly $1.1 trillion megacap in the space of about 18 months.

I feel like I've spent the entire year checking this ticker, only to see the stock post consistently breathtaking gains. Before getting into what $2,000 invested in it today might look like in 2029, it's worth understanding exactly what this company is up to. Let's get into what's driving these numbers that large, because it isn't hype. It's a genuine, physical shortage of the memory chips that AI data centers need in growing amounts.

MU Micron Technology$931.24+$17.11 (+1.87%)

NASDAQ · As of 4:00 PM ET 10/15/26

What Micron actually reported this fall Micron's fiscal fourth-quarter results showed revenue of $54.23 billion, up 31% sequentially and 379% year over year. That marked the company's sixth consecutive quarterly revenue record. Non-GAAP earnings per share came in at $33.42, up from $3.03 in the prior-year period, and for the fiscal year, gross margin expanded to 81.1%, a 40-percentage-point jump from fiscal 2025. DRAM revenue alone topped $100 billion for the year, with fourth-quarter DRAM sales up 343% from a year earlier. Management is guiding for first-quarter fiscal 2027 revenue to land between $60 billion and $63 billion, meaning it expects the boom to keep accelerating.

Image source: Getty Images.

This fall, the headline product news centers on HBM4, the latest-generation high-bandwidth memory that sits directly inside AI accelerators. Micron announced what it's calling the industry's first custom HBM4E implementation, developed specifically for Nvidia's (NVDA -1.84%) next-generation GPUs and NVLink Fusion platforms. The deal between them locks Micron into Nvidia's roadmap rather than leaving it to compete for generic orders. This is super bullish for Micron and a strong reason the stock has experienced gains of nearly 400% over the last year.

NVDA Nvidia$217.23-$4.07 (-1.84%)

NASDAQ · As of 4:00 PM ET 10/15/26

CEO Sanjay Mehrotra described a strong multiyear roadmap for future HBM products, and the company is simultaneously racing to build foundry capacity to keep up: It's pushing construction of a second fab in Idaho and broke ground on its first New York fab in January, part of a manufacturing build-out now backed by more than $6 billion in CHIPS Act funding.

Something to think about The memory chip business has always been brutally cyclical, and most of Micron's current numbers reflect price growth more than volume growth. DRAM and NAND contract prices have surged dramatically this year as Samsung, SK Hynix (SKHY -0.98%), and Micron -- the three largest players in the space by far -- all redirected production capacity toward high-margin HBM instead of ordinary memory, creating a supply squeeze that's pushed prices for all types of memory to levels this industry has never sustained for long.

All three are constructing new fab capacity, but that isn't expected to meaningfully ease the squeeze until 2027 or later. Historically, when that kind of production boost eventually arrives, supply catches up to demand and generally surpasses it, at which point prices fall hard. Whether this cycle breaks that pattern because the new demand driven by the AI trend is structurally different is the real question behind any 2029 prediction.

Math to consider Micron trades at around $950 a share today, down from an all-time high of $1,213 reached in June. In a bull case, I'd assume AI-driven memory demand stays structurally elevated through 2029, with revenue growing to around $190 billion and the market still willing to pay close to 8 times sales given Micron's locked-in HBM relationships. That implies a market cap near $1.5 trillion and a share price around $1,330, pushing that original $2,000 to roughly $2,690.

In a more conservative, historically grounded case, new supply from Micron's own expanding foundry operation and those of its competitors eventually catches up to demand sometime around 2028, memory prices normalize, and the company's revenue settles back closer to $100 billion with the multiple compressing to a more typical cyclical semiconductor level of around 5 times sales. That implies a market cap near $500 billion and a share price closer to $440, which would leave that initial $2,000 investment worth roughly $890.

, /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) will report results for the third quarter of 2026 after the market closes on Thursday, October 29, 2026. The company will host a conference call to discuss results at 11:00 a.m. Eastern Time on Friday, October 30, 2026. 

Participate by Dial-In
To participate, please register here. Upon registering, you will be provided with call details and a unique PIN to join the call as well as an email confirmation with details.

Participate by Webcast
For those investors who prefer to participate online, we will broadcast the call live via webcast linked here. The event can also be accessed through the Investors section of our website at ir.CNOinc.com. Participants should register on the website at least 15 minutes before the event begins.

Participate by Replay
A replay of the conference call will be available on the Investors section of our website at ir.CNOinc.com.

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities and financial services through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.3 million policies and $39.9 billion in total assets. Our 3,200 associates, 5,100 exclusive agents and more than 6,500 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.

SOURCE CNO Financial Group

WAIKOLOA, Hawaii, Oct. 15, 2026 (GLOBE NEWSWIRE) -- The Hawaii Public Utilities Commission (HPUC) has adopted a settlement agreement reflecting Hawaii Water Service’s (Hawaii Water) investments to help keep its Kapalua water and wastewater systems safe and reliable, while addressing higher operating and purchased water costs. The decision enables the California Water Service Group (NYSE: CWT) subsidiary to increase annual revenue by about $1.94 million and adjusts rates accordingly.

The revenue increase, which is based on a settlement reached between Hawaii Water and the Consumer Advocate, includes nearly $1.47 million for the water system and more than $469,000 for the wastewater system. It recognizes $5.86 million in capital improvements that Hawaii Water has made to enhance local water quality, system reliability, and sustainability.

Among the infrastructure improvements made in the Kapalua systems, Hawaii Water:

Upgraded critical potable water storage facilities to improve supply reliability.Replaced aging valves to improve system reliability and control.Replaced backup generators to help maintain water pressure during power interruptions and strengthen fire protection.Upgraded the sewer pump station serving the D.L. Fleming State Beach Park with surface-serviceable pumps and aboveground controls to help improve access, response time, reliability, and efficiency.Replaced lift station and sump pumps to reduce the potential for future wastewater system leaks. The increase also acknowledges higher operating expenses, including about $1.7 million annually for purchased potable and non-potable water, increased labor costs, and the effects of inflation. Purchased water costs are passed directly to customers on a dollar-for-dollar basis.

“Since acquiring the Kapalua systems, we have invested strategically to allow us to provide safe and reliable water and wastewater services for our local customers,” said Marty Kropelnicki, Chairman and CEO. “We have also worked hard to control expenses to keep service affordable while protecting the environment—an increasingly urgent priority amid Maui’s recent drought conditions.”

This is the first general rate increase for the Kapalua systems since Hawaii Water acquired them in 2021. New rates become effective this month.

About California Water Service Group

California Water Service Group (NYSE: CWT) is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.2 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, TWSC, Inc. (Texas Water Service). This year, the company commemorates a century of service.

Group’s purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company’s nearly 1,300 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of “America’s Most Responsible Companies” and the “World’s Most Trustworthy Companies” by Newsweek, a USA Top Workplace, and a Great Place to Work®. More information is available at www.calwatergroup.com.

This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (PSLRA). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the PSLRA. Forward-looking statements in this news release are based on currently available information, expectations, estimates, assumptions and projections, and our management's beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks or variations of these words or similar expressions are intended to identify forward-looking statements. Examples of forward-looking statements in this news release include, but are not limited to, statements describing the potential timing for the increase in Hawaii Water’s rates to become effective and plans for related cash receipts. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable, but they are open to a wide range of uncertainties and business risks. Consequently, actual results or outcomes may vary materially from what is contained in a forward-looking statement. Factors that may cause actual results or outcomes to be different than those expected or anticipated include, but are not limited to those described under the section entitled "Risk Factors" and elsewhere in our most recent Annual Report on Form 10-K, our subsequent Quarterly Reports on Form 10-Q and our other Securities and Exchange Commission filings. In light of these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. 

Media Contact
Yvonne Kingman
[email protected]
310-257-1434

The Arbitrum Stablecoin Growth Program is now open to protocols with at least $1M in stablecoin balances. Eligible protocols that commit to building with USDG as their primary stablecoin may be eligible for performance based incentives from the Arbitrum Foundation as they grow. The first 10 teams in the program to reach $10M of USDG TVL will each receive an additional 200K ARB from a 2M ARB prize pool.

Global Dollar (USDG) is issued by Paxos Digital Singapore Pte. Ltd., a Major Payments Institution supervised by the Monetary Authority of Singapore, and by Paxos Issuance Europe Oy under the supervision of the FIN-FSA and in compliance with MiCA. Learn more at globaldollar.com and the https://arbitrum.io/products/usdg-vaults

Builders drive the demand for onchain dollars. The Arbitrum Stablecoin Growth Program is designed to support the teams that bring that demand to Arbitrum. Protocols that make USDG their preferred stablecoin, collateral or on-ramp asset on the Arbitrum Platform can access incentives and ecosystem support to help them grow, without the cost and complexity of issuing their own stablecoin.

The Arbitrum Platform is home to an established DeFi and blockchain ecosystem, with deep liquidity, active markets and teams building across a large variety of categories. The Arbitrum Stablecoin Growth Program gives protocols an opportunity to tap into this ecosystem while growing their own products. Whether you're expanding an existing protocol or bringing a new deployment to Arbitrum, the program is designed to help teams attract liquidity, increase usage and build for the long term.

Launching and maintaining a stablecoin introduces additional operational, technical and business considerations. By integrating USDG as a primary stablecoin, protocols can focus on their core product while participating in a program designed to support stablecoin adoption across Arbitrum, with the opportunity to earn more as their stablecoin activity on Arbitrum grows. Teams can build stablecoin utility directly into their existing products, from lending markets and liquidity pools to payments and other financial applications, while working toward their own growth objectives.

What teams getAccepted teams may be eligible for performance based incentives linked to their growth on the Arbitrum Platform, and they can put them straight back into their own growth.

Teams may also receive access to Arbitrum's support suite, which may include marketing resources and co-marketing, introductions to ecosystem partners, integration and technical support, direct access to the ecosystem team, and potential access to incentives through the DeFi Renaissance Incentive Program (DRIP), as well as other perks.

The program also includes a 2M ARB prize pool. The first 10 teams to reach $10M of USDG TVL, measured as a 30-day average, will each receive 200K ARB, in addition to the incentives and support above.

Eligible teamsThe program is for stablecoin-centric protocols, such as lending, yield, AMMs or payments, that want to make Arbitrum their home. Eligible teams meet the following.

At least $1m in stablecoin balances at the time of application, verified on DefiLlamaStablecoins at the core of the product, with a live product and audited contractsA commitment to building on Arbitrum, with new deployments and token launches happening here USDG as the primary stablecoin on Arbitrum, with at least $1m of TVL moving into USDGHow to applyApply through the application form. The Arbitrum team reviews every application and gets in touch with teams that are a fit. Participation is subject to eligibility, approval by the Arbitrum Foundation and the Program Terms & Conditions.

 | Source: SPS Commerce, Inc.

MINNEAPOLIS, Oct. 15, 2026 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (NASDAQ: SPSC), the leading intelligent supply chain network, today announced that it will issue its financial results for the third quarter ended September 30, 2026, after the market close on Thursday, October 29, 2026. SPS Commerce will host a call to discuss the results at 3:30 p.m. Central Time (4:30 p.m. Eastern Time) on the same day.

To access the call, please dial 1-833-816-1382, or outside the U.S. 1-412-317-0475 at least 15 minutes prior to the 3:30 p.m. CT start time. Please ask to join the SPS Commerce conference call. A live webcast of the call will be available at http://investors.spscommerce.com under the Events and Presentations menu. The replay will also be available on our website at https://investors.spscommerce.com/events.

About SPS Commerce

SPS Commerce (NASDAQ: SPSC) is the leading intelligent supply chain network, connecting trading partners around the globe to optimize supply chain operations with all retail partners. Our AI-powered network connects 300,000+ trading relationships worldwide and moves more than 750M transactions and over $650B in gross merchandise value each year. From retailers and brands to manufacturers, distributors, and logistics providers, SPS is trusted by seven of the top 10 largest retailers, and over two-thirds of today’s fastest growing brands. Our multi-solution portfolio orchestrates the data, decisions, and relationships that keep the world's supply chains moving forward. With nearly 3,000 employees and offices worldwide, SPS Commerce is headquartered in Minneapolis, Minnesota. For more information, visit spscommerce.com.

Contact:

Investor Relations
The Blueshirt Group
Irmina Blaszczyk
[email protected]

SPS-F

, /PRNewswire/ --

FINANCIAL HIGHLIGHTS

   3Q26

   2Q26

   3Q25

3Q26 Highlights

INCOME STATEMENT SUMMARY (in millions)

Comparisons reflect 3Q26 vs 2Q26 unless otherwise noted

Net income of $47.1 million and diluted EPS of $0.32

Adjusted net income1 of $79.0 million and adjusted diluted EPS1 of $0.54

ROAA of 0.77% and ROE of 5.37%

Adjusted ROAA1 of 1.29%; adjusted ROTCE1 of 15.50%

Total revenue of $251.2 million and PPNR1 of $69.1 million

Adjusted total revenue1 of $251.2 million and adjusted PPNR1 of $112.3 million

Net interest margin up 8 bps to 3.92%

Loan yields up 5 bps and cost of deposits down 8 bps to 1.85%

Efficiency ratio of 71.59%; adjusted efficiency ratio1 of 53.31%

Provision expense exceeded net charge-offs by $14.1 million for the first nine months of 2026

NCO ratio at 27 bps for 3Q26; ACL at 1.37%

Total revenue

$  251.2

$  248.6

$(569.5)

Adjusted total revenue1

251.2

248.6

232.5

Pre-provision net revenue1 (PPNR)

69.1

100.8

(711.6)

Adjusted pre-provision net revenue1

112.3

108.2

92.8

Provision for credit losses

12.2

17.4

12.0

Net income (loss)

47.1

66.7

(562.8)

Adjusted net income1

79.0

72.2

64.9

PER SHARE DATA

Diluted earnings

$    0.32

$    0.46

$  (4.00)

Adjusted diluted earnings1

0.54

0.50

0.46

Cash dividend declared

0.2150

0.2150

0.2125

BALANCE SHEET (in millions)

Total loans

$17,465

$18,062

$17,189

Total deposits

18,616

19,728

19,838

Total assets

24,074

24,777

24,208

Total shareholders' equity

3,350

3,482

3,354

ASSET QUALITY

Net charge-off ratio (NCO ratio)

0.27 %

0.20 %

0.25 %

Allowance for credit losses to loans (ACL)

1.37

1.32

1.50

CAPITAL RATIOS

Equity to assets (EA) ratio

13.91 %

14.05 %

13.85 %

Tangible common equity (TCE) ratio1

8.62

8.91

8.53

Common equity tier 1 (CET1) ratio

12.05

11.60

11.54

Total risk-based capital ratio

14.80

14.35

15.07

OTHER RATIOS

Return on average assets (ROAA)

0.77 %

1.09 %

(8.96) %

Adjusted ROAA1

1.29

1.17

1.03

Return on average common equity (ROE)

5.37

7.69

(66.29)

Return on average tangible common equity1 (ROTCE)

9.42

13.32

(113.56)

Adjusted  ROTCE1

15.50

14.37

13.62

Net interest margin (FTE)2

3.92

3.84

3.50

Efficiency ratio

71.59

58.72

(25.11)

Adjusted efficiency ratio1

53.31

54.26

57.72

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

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

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

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

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

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

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

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

$ in millions, except per share data

            3Q26

            2Q26

           3Q25

Net income (loss)

$ 47.1

$ 66.7

$(562.8)

Branch/real estate rightsizing costs, net

14.2

6.1

2.0

Severance/early retirement program costs

6.0

1.3

0.3

Certain professional services

17.1

-

-

Accelerated prepaid expenses

5.9

-

-

Loss on sale of securities

-

-

801.5

Loss on early extinguishment of debt

-

-

0.6

   Total pre-tax impact

43.2

7.4

804.4

Tax effect

(11.3)

(1.9)

(176.7)

   Total impact on earnings

31.9

5.5

627.7

Adjusted earnings1, 3

$ 79.0

$ 72.2

$   64.9

Diluted EPS

$ 0.32

$ 0.46

$(4.00)

Branch/real estate rightsizing costs, net

0.10

0.04

0.01

Severance/early retirement program costs

0.04

0.01

-

Certain professional services

0.12

-

-

Accelerated prepaid expenses

0.04

-

-

Loss on sale of securities

-

-

5.70

Loss on early extinguishment of debt

-

-

-

   Total pre-tax impact

0.30

0.05

5.71

Tax effect

(0.08)

(0.01)

(1.25)

   Total impact on earnings

0.22

0.04

4.46

Adjusted Diluted EPS1

$ 0.54

$ 0.50

$ 0.46

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

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

Select Yield/Rates

3Q26

2Q26

1Q26

4Q25

3Q25

Loan yield (FTE)2

6.20 %

6.15 %

6.16 %

6.23 %

6.31 %

Investment securities yield (FTE)2

4.33

4.26

4.25

4.30

4.01

Cost of interest bearing deposits

2.39

2.46

2.47

2.62

2.86

Cost of deposits

1.85

1.93

1.96

2.04

2.25

Net interest spread (FTE)2

3.35

3.26

3.27

3.18

2.86

Net interest margin (FTE)2

3.92

3.84

3.84

3.81

3.50

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

Noninterest Income

$ in millions

3Q26

      2Q26

     1Q26

      4Q25

     3Q25

Service charges on deposit accounts

$    13.6

$    12.3

$   12.7

$    12.7

$    13.0

Wealth management services

11.4

10.2

10.5

10.3

10.0

Debit and credit card services

8.7

9.0

8.5

8.7

8.5

Mortgage lending income

1.7

2.0

1.9

2.2

2.3

Other service charges and fees

1.5

1.6

1.6

1.5

1.5

Bank owned life insurance

4.2

4.2

4.2

3.9

3.9

Gain (loss) on sale of securities

-

-

-

-

(801.5)

Other income

6.0

8.6

4.8

12.4

6.1

   Total noninterest income

$    47.2

$  47.9

$  44.2

$   51.7

$(756.2)

Adjusted noninterest income1

$    47.2

$  47.9

$  44.2

$   51.7

$   45.9

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

Noninterest Expense

$ in millions

 3Q26

 2Q26

 1Q26

 4Q25

     3Q25

Salaries and employee benefits

$  78.1

$ 75.6

$ 75.9

$  72.9

$  76.2

Occupancy expense, net

11.7

14.7

12.2

11.6

12.1

Furniture and equipment

5.4

5.7

5.4

5.3

5.3

Deposit insurance

4.5

4.5

2.3

4.7

5.2

Other real estate and foreclosure expense

0.2

0.7

0.3

0.4

0.2

Other operating expenses

82.1

46.6

44.5

44.8

43.0

   Total noninterest expense

$182.0

$147.7

$140.7

$139.9

$142.0

Adjusted salaries and employee benefits1

$  72.1

$  74.3

$  75.6

$ 72.9

$  75.9

Adjusted other operating expenses1

45.0

44.2

43.1

44.0

41.5

Adjusted noninterest expense1

138.9

140.3

140.6

138.6

139.7

Efficiency ratio

71.59 %

58.72 %

57.56 %

55.52 %

(25.11) %

Adjusted efficiency ratio1

53.31

54.26

56.16

53.64

57.72

Full-time equivalent employees

2,712

2,909

2,913

2,917

2,883

Number of financial centers

220

220

221

222

223

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

Loans and Unfunded Loan Commitments 

$ in millions

3Q26

      2Q26

      1Q26

      4Q25

      3Q25

Total loans

$17,465

$18,062

$17,933

$17,492

$17,189

Unfunded loan commitments

4,356

4,384

4,068

3,871

3,955

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

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

Deposits

$ in millions

 3Q26

 2Q26

 1Q26

 4Q25

 3Q25

Noninterest bearing deposits

$  4,286

$  4,350

$  4,290

$  4,330

$  4,377

Interest bearing transaction accounts

10,288

10,332

10,667

10,453

10,289

Time deposits

3,107

3,233

3,334

3,508

3,331

Brokered deposits

935

1,813

1,912

1,893

1,841

   Total deposits

$18,616

$19,728

$20,203

$20,184

$19,838

Noninterest bearing deposits to total deposits

23 %

22 %

21 %

21 %

22 %

Total loans to total deposits

94

92

89

87

87

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

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

Asset Quality

$ in millions

 3Q26

 2Q26

     1Q26

       4Q25

      3Q25

Allowance for credit losses on loans to total loans

1.37 %

1.32 %

1.28 %

1.28 %

1.50 %

Allowance for credit losses on loans to nonperforming loans

133

143

162

199

168

Nonperforming loans to total loans

1.03

0.92

0.79

0.64

0.90

Net charge-off ratio (annualized)

0.27

0.20

0.21

1.12

0.25

Net charge-off ratio YTD (annualized)

0.23

0.21

0.21

0.47

0.24

Loans past due 30-89 days to total loans

0.30

0.29

0.51

0.27

0.11

Total nonperforming loans

$179.9

$166.1

$141.9

$112.7

$153.9

Total other nonperforming assets

7.1

11.1

12.6

12.4

6.8

   Total nonperforming assets

$187.0

$177.2

$154.5

$125.1

$160.7

Reserve for unfunded commitments

$25.6

$25.6

$25.6

$25.6

$25.6

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

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

Select Capital Ratios

      3Q26

      2Q26

      1Q26

      4Q25

      3Q25

Stockholders' equity to total assets

13.9 %

14.1 %

13.9 %

13.9 %

13.9 %

Tangible common equity to tangible assets1

8.6

8.9

8.7

8.7

8.5

Common equity tier 1 (CET1) ratio

12.1

11.6

11.6

11.6

11.5

Tier 1 leverage ratio

10.4

10.2

10.1

10.1

9.6

Tier 1 risk-based capital ratio

12.1

11.6

11.6

11.6

11.5

Total risk-based capital ratio

14.8

14.4

14.4

14.4

15.1

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

_____________________________________________________________________________________

(1)

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

(2)

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

(3)

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

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

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

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

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

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

 Simmons First National Corporation 

 SFNC 

 Consolidated End of Period Balance Sheets 

 For the Quarters Ended 

Sep 30

Jun 30

Mar 31

 Dec 31

Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

 ASSETS 

 Cash and noninterest bearing balances due from banks 

$      415,752

$      377,602

$      342,603

$      380,439

$      377,604

 Interest bearing balances due from banks and federal funds sold 

343,870

211,882

205,880

331,474

266,013

     Cash and cash equivalents 

759,622

589,484

548,483

711,913

643,617

 Interest bearing balances due from banks - time 

-

100

100

100

100

 Investment securities - held-to-maturity 

-

-

-

-

-

 Investment securities - available-for-sale 

2,743,458

3,077,181

3,152,286

3,266,221

3,319,277

 Mortgage loans held for sale 

12,916

16,450

14,311

17,438

15,507

 Assets held in trading accounts 

6,874

14,541

14,543

11,685

12,695

 Loans: 

 Loans 

17,464,682

18,062,369

17,932,883

17,492,179

17,188,817

 Allowance for credit losses on loans 

(238,520)

(238,227)

(229,908)

(224,377)

(258,006)

 Net loans 

17,226,162

17,824,142

17,702,975

17,267,802

16,930,811

 Premises and equipment 

542,159

552,435

557,873

561,220

568,343

 Foreclosed assets and other real estate owned 

7,133

11,080

12,475

12,009

6,386

 Interest receivable 

110,004

103,016

101,557

104,062

104,383

 Bank owned life insurance 

548,119

545,252

542,486

540,001

539,372

 Goodwill 

1,320,799

1,320,799

1,320,799

1,320,799

1,320,799

 Other intangible assets 

75,132

78,228

81,325

84,423

87,520

 Other assets 

722,103

644,108

643,570

643,204

659,352

 Total assets 

$ 24,074,481

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

 LIABILITIES AND STOCKHOLDERS' EQUITY 

 Deposits: 

 Noninterest bearing transaction accounts 

$   4,285,910

$   4,350,474

$   4,289,697

$   4,330,211

$   4,377,232

 Interest bearing transaction accounts and savings deposits 

11,005,547

11,133,265

11,311,979

11,141,169

10,932,914

 Time deposits 

3,324,686

4,244,371

4,601,107

4,712,658

4,527,587

         Total deposits 

18,616,143

19,728,110

20,202,783

20,184,038

19,837,733

 Federal funds purchased and securities sold 

 under agreements to repurchase 

99,444

46,216

8,708

21,383

22,348

 Other borrowings 

1,365,751

941,256

446,756

302,253

18,832

 Subordinated notes and debentures 

301,884

312,028

315,700

317,714

648,976

 Accrued interest and other liabilities 

341,455

267,347

281,102

296,249

326,310

 Total liabilities 

20,724,677

21,294,957

21,255,049

21,121,637

20,854,199

 Stockholders' equity: 

 Common stock 

1,445

1,444

1,451

1,448

1,447

 Surplus 

2,839,951

2,837,845

2,848,952

2,846,581

2,848,977

 Undivided profits 

953,349

937,307

901,696

864,341

817,022

 Accumulated other comprehensive (loss) income 

(444,941)

(294,737)

(314,365)

(293,130)

(313,483)

 Total stockholders' equity 

3,349,804

3,481,859

3,437,734

3,419,240

3,353,963

 Total liabilities and stockholders' equity 

$ 24,074,481

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

 Simmons First National Corporation 

 SFNC 

 Consolidated Statements of Income - Quarter-to-Date 

 For the Quarters Ended 

Sep 30

Jun 30

Mar 31

Dec 31

Sep 30

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands, except per share data)

 INTEREST INCOME 

    Loans (including fees) 

$ 275,903

$ 274,271

$ 267,287

$ 270,868

$  269,210

    Interest bearing balances due from banks and federal funds sold 

2,541

2,058

2,320

2,485

6,421

    Investment securities 

30,239

31,013

31,882

33,833

37,464

    Mortgage loans held for sale 

236

202

203

227

229

    Assets held in trading accounts 

124

136

122

118

99

            TOTAL INTEREST INCOME 

309,043

307,680

301,814

307,531

313,423

 INTEREST EXPENSE 

    Time deposits 

31,154

36,996

39,949

41,989

49,064

    Other deposits 

58,295

58,536

57,653

60,516

67,546

    Federal funds purchased and securities 

      sold under agreements to repurchase 

141

426

36

57

72

    Other borrowings 

10,220

5,873

1,746

2,138

2,957

    Subordinated notes and debentures 

5,257

5,222

5,262

5,535

7,123

            TOTAL INTEREST EXPENSE 

105,067

107,053

104,646

110,235

126,762

 NET INTEREST INCOME 

203,976

200,627

197,168

197,296

186,661

 PROVISION FOR CREDIT LOSSES 

    Provision for credit losses on loans 

12,167

17,434

14,622

15,116

15,180

    Provision for credit losses on investment securities - HTM 

-

-

-

-

(3,214)

            TOTAL PROVISION FOR CREDIT LOSSES 

12,167

17,434

14,622

15,116

11,966

 NET INTEREST INCOME AFTER PROVISION 

    FOR CREDIT LOSSES 

191,809

183,193

182,546

182,180

174,695

 NONINTEREST INCOME 

    Service charges on deposit accounts 

13,609

12,329

12,656

12,669

13,045

    Debit and credit card fees 

8,735

9,008

8,503

8,660

8,478

    Wealth management fees 

11,440

10,240

10,533

10,337

9,965

    Mortgage lending income 

1,668

1,994

1,854

2,232

2,259

    Bank owned life insurance income 

4,218

4,218

4,218

3,942

3,943

    Other service charges and fees (includes insurance income) 

1,509

1,551

1,606

1,503

1,474

    Gain (loss) on sale of securities 

-

-

-

-

(801,492)

    Other income 

6,012

8,599

4,827

12,365

6,141

            TOTAL NONINTEREST INCOME 

47,191

47,939

44,197

51,708

(756,187)

 NONINTEREST EXPENSE 

    Salaries and employee benefits 

78,077

75,590

75,885

72,924

76,249

    Occupancy expense, net 

11,708

14,715

12,218

11,636

12,106

    Furniture and equipment expense 

5,382

5,739

5,423

5,304

5,275

    Other real estate and foreclosure expense 

230

695

315

432

200

    Deposit insurance 

4,519

4,450

2,295

4,736

5,175

    Other operating expenses 

82,119

46,550

44,537

44,830

43,027

            TOTAL NONINTEREST EXPENSE 

182,035

147,739

140,673

139,862

142,032

 NET INCOME (LOSS) BEFORE INCOME TAXES 

56,965

83,393

86,070

94,026

(723,524)

    Provision for income taxes 

9,852

16,702

17,526

15,948

(160,732)

 NET INCOME (LOSS) 

$   47,113

$   66,691

$   68,544

$   78,078

$ (562,792)

 BASIC EARNINGS PER SHARE 

$       0.33

$       0.46

$       0.47

$       0.54

$       (4.01)

 DILUTED EARNINGS PER SHARE 

$       0.32

$       0.46

$       0.47

$       0.54

$       (4.00)

 Simmons First National Corporation 

 SFNC 

 Consolidated Risk-Based Capital 

 For the Quarters Ended 

Sep 30

Jun 30

Mar 31

Dec 31

Sep 30

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Tier 1 capital

   Stockholders' equity

$   3,349,804

$   3,481,859

$   3,437,734

$   3,419,240

$   3,353,963

   Disallowed intangible assets, net of deferred tax

(1,364,874)

(1,367,717)

(1,370,562)

(1,374,839)

(1,376,255)

   Unrealized loss (gain) on AFS securities

444,941

294,737

314,365

293,130

313,483

      Total Tier 1 capital

2,429,871

2,408,879

2,381,537

2,337,531

2,291,191

Tier 2 capital

   Subordinated notes and debentures

301,884

312,028

315,700

317,714

648,976

   Subordinated debt phase out

-

-

-

-

(198,000)

   Qualifying allowance for loan losses and

      reserve for unfunded commitments

252,179

259,618

255,537

250,006

248,710

      Total Tier 2 capital

554,063

571,646

571,237

567,720

699,686

      Total risk-based capital

$   2,983,934

$   2,980,525

$   2,952,774

$   2,905,251

$   2,990,877

Risk weighted assets

$ 20,162,327

$ 20,765,212

$ 20,565,445

$ 20,106,493

$ 19,861,879

Adjusted average assets for leverage ratio

$ 23,337,099

$ 23,617,439

$ 23,487,513

$ 23,224,638

$ 23,963,356

Ratios at end of quarter

   Equity to assets

13.91 %

14.05 %

13.92 %

13.93 %

13.85 %

   Tangible common equity to tangible assets (1)

8.62 %

8.91 %

8.74 %

8.71 %

8.53 %

   Common equity Tier 1 ratio (CET1)

12.05 %

11.60 %

11.58 %

11.63 %

11.54 %

   Tier 1 leverage ratio

10.41 %

10.20 %

10.14 %

10.06 %

9.56 %

   Tier 1 risk-based capital ratio

12.05 %

11.60 %

11.58 %

11.63 %

11.54 %

   Total risk-based capital ratio

14.80 %

14.35 %

14.36 %

14.45 %

15.07 %

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

 Simmons First National Corporation 

 SFNC 

 Consolidated Investment Securities 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Investment Securities - End of Period

 Held-to-Maturity 

    U.S. Government agencies 

$              -

$              -

$              -

$              -

$              -

    Mortgage-backed securities 

-

-

-

-

-

    State and political subdivisions 

-

-

-

-

-

    Other securities 

-

-

-

-

-

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

-

-

-

-

-

 Available-for-Sale 

    U.S. Treasury 

$              -

$              -

$              -

$              -

$              -

    U.S. Government agencies 

17,708

44,425

46,329

47,172

48,355

    Mortgage-backed securities 

1,893,901

2,061,760

2,128,732

2,201,958

2,249,593

    State and political subdivisions 

751,322

865,467

838,880

859,071

845,371

    Other securities 

80,527

105,529

138,345

158,020

175,958

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

2,743,458

3,077,181

3,152,286

3,266,221

3,319,277

       Total investment securities (net of credit losses) 

$ 2,743,458

$ 3,077,181

$ 3,152,286

$ 3,266,221

$ 3,319,277

       Fair value - HTM investment securities 

$                -

$                -

$                -

$                -

$                -

 Simmons First National Corporation 

 SFNC 

 Consolidated Loans 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Loan Portfolio - End of Period

 Consumer: 

    Credit cards 

$      167,388

$      174,148

$      172,610

$      175,760

$      173,020

    Other consumer 

86,552

99,117

96,387

115,472

112,335

 Total consumer 

253,940

273,265

268,997

291,232

285,355

 Real Estate: 

    Construction 

2,475,768

2,577,630

2,621,859

2,873,807

2,874,823

    Single-family residential 

2,505,437

2,564,282

2,566,162

2,607,450

2,617,849

    Other commercial real estate 

8,715,947

8,828,771

8,764,648

8,289,968

7,875,649

 Total real estate 

13,697,152

13,970,683

13,952,669

13,771,225

13,368,321

 Commercial: 

    Commercial 

2,340,957

2,516,607

2,521,440

2,382,339

2,397,388

    Agricultural 

447,255

426,522

333,508

306,300

353,181

 Total commercial 

2,788,212

2,943,129

2,854,948

2,688,639

2,750,569

 Other 

725,378

875,292

856,269

741,083

784,572

       Total loans 

$ 17,464,682

$ 18,062,369

$ 17,932,883

$ 17,492,179

$ 17,188,817

 Simmons First National Corporation 

 SFNC 

 Consolidated Allowance and Asset Quality 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Allowance for Credit Losses on Loans

 Beginning balance 

$  238,227

$ 229,908

$   224,377

$  258,006

$  253,537

 Loans charged off: 

    Credit cards 

1,523

1,368

1,677

1,346

1,862

    Other consumer 

328

350

590

550

600

    Real estate 

8,535

5,465

6,629

25,850

1,350

    Commercial 

2,663

3,520

1,666

22,004

8,079

       Total loans charged off 

13,049

10,703

10,562

49,750

11,891

 Recoveries of loans previously charged off: 

    Credit cards 

326

244

468

347

257

    Other consumer 

241

381

301

163

303

    Real estate 

165

151

449

105

115

    Commercial 

443

812

253

390

505

       Total recoveries 

1,175

1,588

1,471

1,005

1,180

    Net loans charged off 

11,874

9,115

9,091

48,745

10,711

 Provision for credit losses on loans 

12,167

17,434

14,622

15,116

15,180

 Balance, end of quarter 

$  238,520

$ 238,227

$   229,908

$  224,377

$  258,006

Nonperforming assets

 Nonperforming loans: 

    Nonaccrual loans 

$  179,397

$ 165,295

$   141,233

$  111,791

$  153,516

    Loans past due 90 days or more 

488

753

647

948

423

       Total nonperforming loans 

179,885

166,048

141,880

112,739

153,939

 Other nonperforming assets: 

   Foreclosed assets and other real estate owned

7,133

11,080

12,475

12,009

6,386

    Other nonperforming assets 

12

60

181

323

392

       Total other nonperforming assets 

7,145

11,140

12,656

12,332

6,778

          Total nonperforming assets 

$  187,030

$ 177,188

$   154,536

$  125,071

$  160,717

 Loans past due 30-89 days (excluding nonaccrual) 

$    51,871

$   52,308

$     91,245

$    47,016

$    19,207

Ratios

 Allowance for credit losses on loans to total loans 

1.37 %

1.32 %

1.28 %

1.28 %

1.50 %

 Allowance for credit losses to nonperforming loans 

133 %

143 %

162 %

199 %

168 %

 Nonperforming loans to total loans 

1.03 %

0.92 %

0.79 %

0.64 %

0.90 %

 Nonperforming assets to total assets 

0.78 %

0.72 %

0.63 %

0.51 %

0.66 %

 Annualized net charge offs to average loans (QTD) 

0.27 %

0.20 %

0.21 %

1.12 %

0.25 %

 Annualized net charge offs to average loans (YTD) 

0.23 %

0.21 %

0.21 %

0.47 %

0.24 %

 Annualized net credit card charge offs to 

   average credit card loans (QTD) 

2.75 %

2.57 %

2.81 %

2.23 %

3.64 %

 Loans past due 30-89 days to total loans 

0.30 %

0.29 %

0.51 %

0.27 %

0.11 %

 Simmons First National Corporation 

 SFNC 

 Consolidated - Average Balance Sheet and Net Interest Income Analysis 

 For the Quarters Ended 

 (Unaudited) 

 Three Months Ended
Sep 2026 

 Three Months Ended
Jun 2026 

 Three Months Ended
Sep 2025 

 ($ in thousands) 

Average
Balance

Income/
Expense

Yield/
Rate

Average
Balance

Income/
Expense

Yield/
Rate

Average
Balance

Income/
Expense

Yield/
Rate

ASSETS

Earning assets:

   Interest bearing balances due from banks

     and federal funds sold

$      246,779

$      2,541

4.09 %

$      199,704

$      2,058

4.13 %

$      566,344

$      6,421

4.50 %

   Investment securities - taxable

2,163,583

24,728

4.53 %

2,301,053

25,472

4.44 %

2,751,493

29,183

4.21 %

   Investment securities - non-taxable (FTE)

787,115

7,461

3.76 %

802,448

7,502

3.75 %

1,242,936

11,210

3.58 %

   Mortgage loans held for sale

15,665

236

5.98 %

13,556

202

5.98 %

13,776

229

6.60 %

   Assets held in trading accounts

12,499

124

3.94 %

14,731

136

3.70 %

11,305

99

3.47 %

   Loans - including fees (FTE)

17,735,235

277,069

6.20 %

17,956,572

275,339

6.15 %

16,976,231

270,092

6.31 %

      Total interest earning assets (FTE)

20,960,876

312,159

5.91 %

21,288,064

310,709

5.85 %

21,562,085

317,234

5.84 %

   Non-earning assets

3,371,350

3,349,957

3,352,837

     Total assets

$ 24,332,226

$ 24,638,021

$ 24,914,922

LIABILITIES AND STOCKHOLDERS' EQUITY

Interest bearing liabilities:

   Interest bearing transaction and

     savings accounts

$ 11,104,164

$    58,295

2.08 %

$ 11,192,627

$    58,536

2.10 %

$ 11,043,132

$    67,546

2.43 %

   Time deposits

3,764,350

31,154

3.28 %

4,406,355

36,996

3.37 %

5,116,070

49,064

3.80 %

      Total interest bearing deposits

14,868,514

89,449

2.39 %

15,598,982

95,532

2.46 %

16,159,202

116,610

2.86 %

   Federal funds purchased and securities

     sold under agreement to repurchase

22,142

141

2.53 %

57,758

426

2.96 %

23,306

72

1.23 %

   Other borrowings

1,083,796

10,220

3.74 %

635,693

5,873

3.71 %

268,278

2,957

4.37 %

   Subordinated notes and debentures

309,678

5,257

6.73 %

314,108

5,222

6.67 %

407,922

7,123

6.93 %

      Total interest bearing liabilities

16,284,130

105,067

2.56 %

16,606,541

107,053

2.59 %

16,858,708

126,762

2.98 %

Noninterest bearing liabilities:

   Noninterest bearing deposits

4,262,855

4,272,088

4,369,941

   Other liabilities

307,051

280,861

317,965

      Total liabilities

20,854,036

21,159,490

21,546,614

Stockholders' equity

3,478,190

3,478,531

3,368,308

      Total liabilities and stockholders' equity

$ 24,332,226

$ 24,638,021

$ 24,914,922

Net interest income (FTE)

$  207,092

$  203,656

$  190,472

Net interest spread (FTE)

3.35 %

3.26 %

2.86 %

Net interest margin (FTE)

3.92 %

3.84 %

3.50 %

 Simmons First National Corporation 

 SFNC 

 Consolidated - Selected Financial Data 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands, except share data)

QUARTER-TO-DATE

Financial Highlights - As Reported

Net Income (loss)

$        47,113

$        66,691

$        68,544

$        78,078

$    (562,792)

Diluted earnings per share

0.32

0.46

0.47

0.54

(4.00)

Return on average assets

0.77 %

1.09 %

1.13 %

1.28 %

-8.96 %

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

0.85 %

1.19 %

1.24 %

1.40 %

-9.46 %

Return on average common equity

5.37 %

7.69 %

8.01 %

9.08 %

-66.29 %

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

9.42 %

13.32 %

13.90 %

15.92 %

-113.56 %

Net interest margin (FTE)

3.92 %

3.84 %

3.84 %

3.81 %

3.50 %

Efficiency ratio (2)

71.59 %

58.72 %

57.56 %

55.52 %

-25.11 %

FTE adjustment

3,116

3,029

3,012

2,890

3,811

Average diluted shares outstanding

145,054,299

145,323,958

145,340,410

145,210,222

140,648,704

Shares repurchased under plan

-

662,082

-

-

-

Average price of shares repurchased

-

21.52

-

-

-

Cash dividends declared per common share

0.215

0.215

0.215

0.213

0.213

Accretable yield on acquired loans

(221)

778

902

749

725

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

Adjusted earnings

$        78,980

$        72,171

$        68,566

$        78,975

$        64,930

Adjusted diluted earnings per share

0.54

0.50

0.47

0.54

0.46

Adjusted return on average assets

1.29 %

1.17 %

1.13 %

1.29 %

1.03 %

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

1.41 %

1.29 %

1.24 %

1.41 %

1.13 %

Adjusted return on average common equity

9.01 %

8.32 %

8.01 %

9.19 %

7.65 %

Adjusted return on tangible common equity

15.50 %

14.37 %

13.91 %

16.10 %

13.62 %

Adjusted efficiency ratio (2)

53.31 %

54.26 %

56.16 %

53.64 %

57.72 %

YEAR-TO-DATE

Financial Highlights - GAAP

Net Income (loss)

$      182,348

$      135,235

$        68,544

$    (397,553)

$    (475,631)

Diluted earnings per share

1.25

0.93

0.47

(2.95)

(3.63)

Return on average assets

1.00 %

1.11 %

1.13 %

-1.55 %

-2.44 %

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

1.10 %

1.22 %

1.24 %

-1.60 %

-2.54 %

Return on average common equity

7.01 %

7.85 %

8.01 %

-11.45 %

-18.21 %

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

12.19 %

13.61 %

13.90 %

-18.84 %

-30.13 %

Net interest margin (FTE)

3.86 %

3.84 %

3.84 %

3.32 %

3.17 %

Efficiency ratio (2)

62.70 %

58.15 %

57.56 %

460.26 %

-329.30 %

FTE adjustment

9,157

6,041

3,012

19,537

16,647

Average diluted shares outstanding

145,305,872

145,335,181

145,340,410

134,731,180

131,132,891

Cash dividends declared per common share

0.645

0.430

0.215

0.850

0.638

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

Adjusted earnings

$      219,717

$      140,737

$        68,566

$      233,098

$      154,123

Adjusted diluted earnings per share

1.51

0.97

0.47

1.73

1.18

Adjusted return on average assets

1.20 %

1.15 %

1.13 %

0.91 %

0.79 %

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

1.31 %

1.26 %

1.24 %

1.00 %

0.87 %

Adjusted return on average common equity

8.45 %

8.17 %

8.01 %

6.71 %

5.90 %

Adjusted return on tangible common equity

14.60 %

14.14 %

13.91 %

11.78 %

10.37 %

Adjusted efficiency ratio (2)

54.56 %

55.20 %

56.16 %

58.92 %

60.90 %

END OF PERIOD

Book value per share

$          23.18

$          24.11

$          23.70

$          23.62

$          23.18

Tangible book value per share

13.52

14.42

14.03

13.91

13.45

Shares outstanding

144,517,233

144,442,482

145,058,331

144,762,817

144,703,075

Full-time equivalent employees

2,712

2,909

2,913

2,917

2,883

Total number of financial centers

220

220

221

222

223

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

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

Simmons First National Corporation 

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

 (in thousands, except per share data) 

QUARTER-TO-DATE

 Net income (loss) 

$    47,113

$   66,691

$     68,544

$    78,078

$ (562,792)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

570

FDIC Deposit Insurance special assessment

-

-

(1,984)

-

-

Certain professional services

17,069

-

1,200

-

-

Severance/early retirement program costs

5,997

1,320

283

-

305

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

-

801,492

Branch/real estate rightsizing costs, net

14,186

6,099

531

85

2,004

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(11,274)

(1,939)

(8)

(318)

(176,649)

    Certain items, net of tax 

31,867

5,480

22

897

627,722

Adjusted earnings (non-GAAP) (2)

$    78,980

$   72,171

$     68,566

$    78,975

$    64,930

 Diluted earnings per share 

$        0.32

$       0.46

$         0.47

$        0.54

$       (4.00)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

-

FDIC Deposit Insurance special assessment

-

-

(0.01)

-

-

Certain professional services

0.12

-

0.01

-

-

Severance/early retirement program costs

0.04

0.01

-

-

-

Termination of vendor and software services

-

-

-

-

-

Loss on sale of Equipment Finance business

-

-

-

0.01

-

Loss (gain) on sale of securities

-

-

-

-

5.70

Branch/real estate rightsizing costs, net

0.10

0.04

-

-

0.01

Accelerated prepaid expenses

0.04

-

-

-

-

Tax effect of certain items (1)

(0.08)

(0.01)

-

(0.01)

(1.25)

    Certain items, net of tax 

0.22

0.04

-

-

4.46

 Adjusted diluted earnings per share (non-GAAP) 

$        0.54

$       0.50

$         0.47

$        0.54

$        0.46

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

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

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

QUARTER-TO-DATE

    Noninterest income 

$    47,191

$   47,939

$     44,197

$    51,708

$ (756,187)

Certain noninterest income items

Loss on early extinguishment of debt

-

-

-

-

570

Loss (gain) on sale of securities

-

-

-

-

801,492

    Adjusted noninterest income (non-GAAP) 

$    47,191

$   47,939

$     44,197

$    51,708

$    45,875

    Other income 

$      6,012

$     8,599

$       4,827

$    12,365

$      6,141

Certain other income items

Loss on early extinguishment of debt

-

-

-

-

570

    Adjusted other income (non-GAAP) 

$      6,012

$     8,599

$       4,827

$    12,365

$      6,711

    Noninterest expense 

$  182,035

$ 147,739

$   140,673

$  139,862

$  142,032

Certain noninterest expense items

Severance/early retirement program costs

(5,997)

(1,320)

(283)

-

(305)

FDIC Deposit Insurance special assessment

-

-

1,984

-

-

Certain professional services

(17,069)

-

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(14,186)

(6,099)

(531)

(85)

(2,004)

    Adjusted noninterest expense (non-GAAP) 

138,894

140,320

140,643

138,647

139,723

 Less: Fraud event 

-

-

-

-

-

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

$  138,894

$ 140,320

$   140,643

$  138,647

$  139,723

    Salaries and employee benefits 

$    78,077

$   75,590

$     75,885

$    72,924

$    76,249

Certain salaries and employee benefits items

Severance/early retirement program costs

(5,997)

(1,320)

(283)

-

(305)

Other

56

4

-

-

(1)

    Adjusted salaries and employee benefits (non-GAAP) 

$    72,136

$   74,274

$     75,602

$    72,924

$    75,943

    Other operating expenses 

$    82,119

$   46,550

$     44,537

$    44,830

$    43,027

Certain other operating expenses items

Certain professional services

(17,069)

-

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(14,174)

(2,399)

(205)

327

(1,556)

    Adjusted other operating expenses (non-GAAP) 

$    44,987

$   44,151

$     43,132

$    44,027

$    41,471

 Simmons First National Corporation 

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

 (in thousands, except per share data) 

YEAR-TO-DATE

 Net income (loss) 

$  182,348

$ 135,235

$     68,544

$ (397,553)

$ (475,631)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

570

570

FDIC Deposit Insurance special assessment

(1,984)

(1,984)

(1,984)

-

-

Certain professional services

18,269

1,200

1,200

-

-

Severance/early retirement program costs

7,600

1,603

283

1,899

1,899

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

801,492

801,492

Branch/real estate rightsizing costs, net

20,816

6,630

531

3,246

3,161

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(13,221)

(1,947)

(8)

(177,686)

(177,368)

    Certain items, net of tax 

37,369

5,502

22

630,651

629,754

Adjusted earnings (non-GAAP) (2)

$  219,717

$ 140,737

$     68,566

$  233,098

$  154,123

 Diluted earnings per share 

$        1.25

$       0.93

$         0.47

$       (2.95)

$       (3.63)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

0.01

-

FDIC Deposit Insurance special assessment

(0.01)

(0.01)

(0.01)

-

-

Certain professional services

0.13

0.01

0.01

-

-

Severance/early retirement program costs

0.05

0.01

-

0.01

0.02

Termination of vendor and software services

-

-

-

-

-

Loss on sale of Equipment Finance business

-

-

-

0.01

-

Loss (gain) on sale of securities

-

-

-

5.95

6.11

Branch/real estate rightsizing costs, net

0.14

0.04

-

0.02

0.02

Accelerated prepaid expenses

0.04

-

-

-

-

Tax effect of certain items (1)

(0.09)

(0.01)

-

(1.32)

(1.34)

    Certain items, net of tax 

0.26

0.04

-

4.68

4.81

 Adjusted diluted earnings per share (non-GAAP) 

$        1.51

$       0.97

$         0.47

$        1.73

$        1.18

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

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

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

YEAR-TO-DATE

    Noninterest income 

$  139,327

$   92,136

$     44,197

$ (615,970)

$ (667,678)

Certain noninterest income items

Loss on early extinguishment of debt

-

-

-

570

570

Loss (gain) on sale of securities

-

-

-

801,492

801,492

    Adjusted noninterest income (non-GAAP) 

$  139,327

$   92,136

$     44,197

$  186,092

$  134,384

    Other income 

$    19,438

$   13,426

$       4,827

$    31,350

$    18,985

Certain other income items

Loss on early extinguishment of debt

-

-

-

570

570

    Adjusted other income (non-GAAP) 

$    19,438

$   13,426

$       4,827

$    31,920

$    19,555

    Noninterest expense 

$  470,447

$ 288,412

$   140,673

$  565,063

$  425,201

Certain noninterest expense items

Severance/early retirement program costs

(7,600)

(1,603)

(283)

(1,899)

(1,899)

FDIC Deposit Insurance special assessment

1,984

1,984

1,984

-

-

Certain professional services

(18,269)

(1,200)

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(20,816)

(6,630)

(531)

(3,246)

(3,161)

    Adjusted noninterest expense (non-GAAP) 

419,857

280,963

140,643

558,788

420,141

 Less: Fraud event 

-

-

-

(4,300)

(4,300)

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

$  419,857

$ 280,963

$   140,643

$  554,488

$  415,841

    Salaries and employee benefits 

$  229,552

$ 151,475

$     75,885

$  297,859

$  224,935

Certain salaries and employee benefits items

Severance/early retirement program costs

(7,600)

(1,603)

(283)

(1,899)

(1,899)

Other

60

4

-

-

-

    Adjusted salaries and employee benefits (non-GAAP) 

$  222,012

$ 149,876

$     75,602

$  295,960

$  223,036

    Other operating expenses 

$  173,206

$   91,087

$     44,537

$  176,184

$  131,354

Certain other operating expenses items

Certain professional services

(18,269)

(1,200)

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(22,667)

(2,604)

(205)

(1,135)

(1,462)

    Adjusted other operating expenses (non-GAAP) 

$  132,270

$   87,283

$     43,132

$  173,919

$  129,892

Simmons First National Corporation

 SFNC 

 Reconciliation Of Non-GAAP Financial Measures - End of Period 

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands, except per share data)

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

Total common stockholders' equity

$   3,349,804

$   3,481,859

$   3,437,734

$   3,419,240

$   3,353,963

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(75,132)

(78,228)

(81,325)

(84,423)

(87,520)

Total intangibles

(1,395,931)

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

Tangible common stockholders' equity

$   1,953,873

$   2,082,832

$   2,035,610

$   2,014,018

$   1,945,644

Total assets

$ 24,074,481

$ 24,776,816

$ 24,692,783

$ 24,540,877

$ 24,208,162

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(75,132)

(78,228)

(81,325)

(84,423)

(87,520)

Total intangibles

(1,395,931)

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

Tangible assets

$ 22,678,550

$ 23,377,789

$ 23,290,659

$ 23,135,655

$ 22,799,843

Ratio of common equity to assets

13.91 %

14.05 %

13.92 %

13.93 %

13.85 %

Ratio of tangible common equity to tangible assets

8.62 %

8.91 %

8.74 %

8.71 %

8.53 %

Calculation of Tangible Book Value per Share

Total common stockholders' equity

$   3,349,804

$   3,481,859

$   3,437,734

$   3,419,240

$   3,353,963

Intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangible assets

(75,132)

(78,228)

(81,325)

(84,423)

(87,520)

Total intangibles

(1,395,931)

(1,399,027)

(1,402,124)

(1,405,222)

(1,408,319)

Tangible common stockholders' equity

$   1,953,873

$   2,082,832

$   2,035,610

$   2,014,018

$   1,945,644

Shares of common stock outstanding

144,517,233

144,442,482

145,058,331

144,762,817

144,703,075

Book value per common share

$          23.18

$          24.11

$          23.70

$          23.62

$          23.18

Tangible book value per common share

$          13.52

$          14.42

$          14.03

$          13.91

$          13.45

Calculation of Coverage Ratio of Uninsured, Non-Collateralized Deposits

Uninsured deposits at Simmons Bank

$   7,223,797

$   7,213,361

$   7,385,688

$   9,640,677

$   9,565,766

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

2,148,607

2,385,340

2,509,728

2,363,327

2,169,362

Less: Intercompany eliminations

407,004

324,404

432,795

2,729,191

2,937,147

Total uninsured, non-collateralized deposits

$   4,668,186

$   4,503,617

$   4,443,165

$   4,548,159

$   4,459,257

FHLB borrowing availability

$   4,993,000

$   5,412,000

$   5,831,000

$   5,999,000

$   6,134,000

Unpledged securities

1,091,000

1,488,000

1,571,000

1,480,000

1,575,000

Fed funds lines, Fed discount window and

  Bank Term Funding Program (1)

1,863,000

1,953,000

1,595,000

1,836,000

1,824,000

Additional liquidity sources

$   7,947,000

$   8,853,000

$   8,997,000

$   9,315,000

$   9,533,000

Uninsured, non-collateralized deposit coverage ratio

1.7

2.0

2.0

2.0

2.1

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

Simmons First National Corporation

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Calculation of Adjusted Return on Average Assets & Average Tangible Assets

Net income (loss)

$        47,113

$        66,691

$        68,544

$        78,078

$    (562,792)

Amortization of intangibles, net of taxes 

2,289

2,287

2,288

2,288

2,287

Total adjusted tangible net income (non-GAAP)

$        49,402

$        68,978

$        70,832

$        80,366

$    (560,505)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

570

FDIC Deposit Insurance special assessment

-

-

(1,984)

-

-

Certain professional services

17,069

-

1,200

-

-

Severance/early retirement program costs

5,997

1,320

283

-

305

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

-

801,492

Branch/real estate rightsizing costs, net

14,186

6,099

531

85

2,004

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(11,274)

(1,939)

(8)

(318)

(176,649)

Adjusted earnings (non-GAAP)

78,980

72,171

68,566

78,975

64,930

Amortization of intangibles, net of taxes 

2,289

2,287

2,288

2,288

2,287

Total adjusted tangible net income (non-GAAP)

$        81,269

$        74,458

$        70,854

$        81,263

$        67,217

Average total assets

$ 24,332,226

$ 24,638,021

$ 24,533,005

$ 24,254,447

$ 24,914,922

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(77,005)

(80,123)

(83,248)

(86,206)

(89,349)

Total average intangibles

(1,397,804)

(1,400,922)

(1,404,047)

(1,407,005)

(1,410,148)

Average tangible assets (non-GAAP)

$ 22,934,422

$ 23,237,099

$ 23,128,958

$ 22,847,442

$ 23,504,774

Return on average assets

0.77 %

1.09 %

1.13 %

1.28 %

-8.96 %

Adjusted return on average assets (non-GAAP)

1.29 %

1.17 %

1.13 %

1.29 %

1.03 %

Return on average tangible assets (non-GAAP)

0.85 %

1.19 %

1.24 %

1.40 %

-9.46 %

Adjusted return on average tangible assets (non-GAAP)

1.41 %

1.29 %

1.24 %

1.41 %

1.13 %

Calculation of Return on Tangible Common Equity

Net income (loss)  available to common stockholders

$        47,113

$        66,691

$        68,544

$        78,078

$    (562,792)

Amortization of intangibles, net of taxes

2,289

2,287

2,288

2,288

2,287

Total income available to common stockholders

$        49,402

$        68,978

$        70,832

$        80,366

$    (560,505)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

570

FDIC Deposit Insurance special assessment

-

-

(1,984)

-

-

Certain professional services

17,069

-

1,200

-

-

Severance/early retirement program costs

5,997

1,320

283

-

305

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

-

801,492

Branch/real estate rightsizing costs, net

14,186

6,099

531

85

2,004

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(11,274)

(1,939)

(8)

(318)

(176,649)

Adjusted earnings (non-GAAP)

78,980

72,171

68,566

78,975

64,930

Amortization of intangibles, net of taxes

2,289

2,287

2,288

2,288

2,287

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

$        81,269

$        74,458

$        70,854

$        81,263

$        67,217

Average common stockholders' equity

$   3,478,190

$   3,478,531

$   3,470,260

$   3,410,017

$   3,368,308

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(77,005)

(80,123)

(83,248)

(86,206)

(89,349)

Total average intangibles

(1,397,804)

(1,400,922)

(1,404,047)

(1,407,005)

(1,410,148)

Average tangible common stockholders' equity (non-GAAP)

$   2,080,386

$   2,077,609

$   2,066,213

$   2,003,012

$   1,958,160

Return on average common equity

5.37 %

7.69 %

8.01 %

9.08 %

-66.29 %

Return on tangible common equity

9.42 %

13.32 %

13.90 %

15.92 %

-113.56 %

Adjusted return on average common equity (non-GAAP)

9.01 %

8.32 %

8.01 %

9.19 %

7.65 %

Adjusted return on tangible common equity (non-GAAP)

15.50 %

14.37 %

13.91 %

16.10 %

13.62 %

Simmons First National Corporation

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$      182,035

$      147,739

$      140,673

$      139,862

$      142,032

Certain noninterest expense items (non-GAAP)

Severance/early retirement program costs

(5,997)

(1,320)

(283)

-

(305)

FDIC Deposit Insurance special assessment

-

-

1,984

-

-

Certain professional services

(17,069)

-

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(14,186)

(6,099)

(531)

(85)

(2,004)

Other real estate and foreclosure expense adjustment

(230)

(695)

(315)

(432)

(200)

Amortization of intangibles adjustment

(3,098)

(3,097)

(3,097)

(3,097)

(3,097)

Adjusted efficiency ratio numerator

$      135,566

$      136,528

$      137,231

$      135,118

$      136,426

Net interest income

$      203,976

$      200,627

$      197,168

$      197,296

$      186,661

Noninterest income

47,191

47,939

44,197

51,708

(756,187)

Fully tax-equivalent adjustment (2)

3,116

3,029

3,012

2,890

3,811

Efficiency ratio denominator

254,283

251,595

244,377

251,894

(565,715)

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

-

570

(Gain) loss on sale of securities

-

-

-

-

801,492

Adjusted efficiency ratio denominator

$      254,283

$      251,595

$      244,377

$      251,894

$      236,347

Efficiency ratio (1)

71.59 %

58.72 %

57.56 %

55.52 %

-25.11 %

Adjusted efficiency ratio (non-GAAP) (1)

53.31 %

54.26 %

56.16 %

53.64 %

57.72 %

Calculation of Total Revenue and Adjusted Total Revenue

Net interest income

$      203,976

$      200,627

$      197,168

$      197,296

$      186,661

Noninterest income

47,191

47,939

44,197

51,708

(756,187)

Total revenue

251,167

248,566

241,365

249,004

(569,526)

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

-

-

-

-

570

Less: Gain (loss) on sale of securities

-

-

-

-

(801,492)

Adjusted total revenue

$      251,167

$      248,566

$      241,365

$      249,004

$      232,536

Calculation of Pre-Provision Net Revenue (PPNR)

Net interest income

$      203,976

$      200,627

$      197,168

$      197,296

$      186,661

Noninterest income

47,191

47,939

44,197

51,708

(756,187)

Total revenue

251,167

248,566

241,365

249,004

(569,526)

Less: Noninterest expense

182,035

147,739

140,673

139,862

142,032

Pre-Provision Net Revenue (PPNR)

$        69,132

$      100,827

$      100,692

$      109,142

$    (711,558)

Calculation of Adjusted Pre-Provision Net Revenue

Pre-Provision Net Revenue (PPNR)

$        69,132

$      100,827

$      100,692

$      109,142

$    (711,558)

Certain items, pre-tax (non-GAAP)

Plus: Loss on early extinguishment of debt

-

-

-

-

570

Plus: Loss (gain) on sale of securities

-

-

-

-

801,492

Plus: FDIC Deposit Insurance special assessment

-

-

(1,984)

-

-

Plus: Certain professional services

17,069

-

1,200

-

-

Plus: Severance/early retirement program costs

5,997

1,320

283

-

305

Plus: Termination of vendor and software services

-

-

-

12

-

Plus: Loss on sale of Equipment Finance business

-

-

-

1,118

-

Plus: Branch/real estate rightsizing costs, net

14,186

6,099

531

85

2,004

Plus: Accelerated prepaid expenses

5,889

-

-

-

-

Adjusted Pre-Provision Net Revenue

$      112,273

$      108,246

$      100,722

$      110,357

$        92,813

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

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

Simmons First National Corporation

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Calculation of Adjusted Return on Average Assets & Average Tangible Assets

Net income (loss)

$      182,348

$      135,235

$        68,544

$    (397,553)

$    (475,631)

Amortization of intangibles, net of taxes 

6,864

4,575

2,288

9,469

7,181

Total adjusted tangible net income (non-GAAP)

$      189,212

$      139,810

$        70,832

$    (388,084)

$    (468,450)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

570

570

FDIC Deposit Insurance special assessment

(1,984)

(1,984)

(1,984)

-

-

Certain professional services

18,269

1,200

1,200

-

-

Severance/early retirement program costs

7,600

1,603

283

1,899

1,899

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

801,492

801,492

Branch/real estate rightsizing costs, net

20,816

6,630

531

3,246

3,161

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(13,221)

(1,947)

(8)

(177,686)

(177,368)

Adjusted earnings (non-GAAP)

219,717

140,737

68,566

233,098

154,123

Amortization of intangibles, net of taxes 

6,864

4,575

2,288

9,469

7,181

Total adjusted tangible net income (non-GAAP)

$      226,581

$      145,312

$        70,854

$      242,567

$      161,304

Average total assets

$ 24,500,349

$ 24,585,803

$ 24,533,005

$ 25,614,700

$ 26,073,100

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(80,102)

(81,677)

(83,248)

(90,913)

(92,499)

Total average intangibles

(1,400,901)

(1,402,476)

(1,404,047)

(1,411,712)

(1,413,298)

Average tangible assets (non-GAAP)

$ 23,099,448

$ 23,183,327

$ 23,128,958

$ 24,202,988

$ 24,659,802

Return on average assets

1.00 %

1.11 %

1.13 %

-1.55 %

-2.44 %

Adjusted return on average assets (non-GAAP)

1.20 %

1.15 %

1.13 %

0.91 %

0.79 %

Return on average tangible assets (non-GAAP)

1.10 %

1.22 %

1.24 %

-1.60 %

-2.54 %

Adjusted return on average tangible assets (non-GAAP)

1.31 %

1.26 %

1.24 %

1.00 %

0.87 %

Calculation of Return on Tangible Common Equity

Net income (loss)  available to common stockholders

$      182,348

$      135,235

$        68,544

$    (397,553)

$    (475,631)

Amortization of intangibles, net of taxes

6,864

4,575

2,288

9,469

7,181

Total income available to common stockholders

$      189,212

$      139,810

$        70,832

$    (388,084)

$    (468,450)

Certain items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

570

570

FDIC Deposit Insurance special assessment

(1,984)

(1,984)

(1,984)

-

-

Certain professional services

18,269

1,200

1,200

-

-

Severance/early retirement program costs

7,600

1,603

283

1,899

1,899

Termination of vendor and software services

-

-

-

12

-

Loss on sale of Equipment Finance business

-

-

-

1,118

-

Loss (gain) on sale of securities

-

-

-

801,492

801,492

Branch/real estate rightsizing costs, net

20,816

6,630

531

3,246

3,161

Accelerated prepaid expenses

5,889

-

-

-

-

Tax effect of certain items (1)

(13,221)

(1,947)

(8)

(177,686)

(177,368)

Adjusted earnings (non-GAAP)

219,717

140,737

68,566

233,098

154,123

Amortization of intangibles, net of taxes

6,864

4,575

2,288

9,469

7,181

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

$      226,581

$      145,312

$        70,854

$      242,567

$      161,304

Average common stockholders' equity

$   3,475,690

$   3,474,419

$   3,470,260

$   3,471,531

$   3,492,261

Average intangible assets:

   Goodwill

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

(1,320,799)

   Other intangibles

(80,102)

(81,677)

(83,248)

(90,913)

(92,499)

Total average intangibles

(1,400,901)

(1,402,476)

(1,404,047)

(1,411,712)

(1,413,298)

Average tangible common stockholders' equity (non-GAAP)

$   2,074,789

$   2,071,943

$   2,066,213

$   2,059,819

$   2,078,963

Return on average common equity

7.01 %

7.85 %

8.01 %

-11.45 %

-18.21 %

Return on tangible common equity

12.19 %

13.61 %

13.90 %

-18.84 %

-30.13 %

Adjusted return on average common equity (non-GAAP)

8.45 %

8.17 %

8.01 %

6.71 %

5.90 %

Adjusted return on tangible common equity (non-GAAP)

14.60 %

14.14 %

13.91 %

11.78 %

10.37 %

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

Simmons First National Corporation

 SFNC 

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

 For the Quarters Ended 

 Sep 30 

 Jun 30 

 Mar 31 

 Dec 31 

 Sep 30 

 (Unaudited) 

2026

2026

2026

2025

2025

($ in thousands)

Calculation of Efficiency Ratio and Adjusted Efficiency Ratio (1)

Noninterest expense (efficiency ratio numerator)

$      470,447

$      288,412

$      140,673

$      565,063

$      425,201

Certain noninterest expense items (non-GAAP)

Severance/early retirement program costs

(7,600)

(1,603)

(283)

(1,899)

(1,899)

FDIC Deposit Insurance special assessment

1,984

1,984

1,984

-

-

Certain professional services

(18,269)

(1,200)

(1,200)

-

-

Termination of vendor and software services

-

-

-

(12)

-

Loss on sale of Equipment Finance business

-

-

-

(1,118)

-

Accelerated prepaid expenses

(5,889)

-

-

-

-

Branch/real estate rightsizing costs

(20,816)

(6,630)

(531)

(3,246)

(3,161)

Other real estate and foreclosure expense adjustment

(1,233)

(1,003)

(308)

(1,046)

(614)

Amortization of intangibles adjustment

(9,292)

(6,194)

(3,097)

(12,819)

(9,722)

Adjusted efficiency ratio numerator

$      409,332

$      273,766

$      137,238

$      544,923

$      409,805

Net interest income

$      601,771

$      397,795

$      197,168

$      719,203

$      521,907

Noninterest income

139,327

92,136

44,197

(615,970)

(667,678)

Fully tax-equivalent adjustment (2)

9,157

6,041

3,012

19,537

16,647

Efficiency ratio denominator

750,255

495,972

244,377

122,770

(129,124)

Certain noninterest income items (non-GAAP)

Loss on early extinguishment of debt

-

-

-

570

570

(Gain) loss on sale of securities

-

-

-

801,492

801,492

Adjusted efficiency ratio denominator

$      750,255

$      495,972

$      244,377

$      924,832

$      672,938

Efficiency ratio (1)

62.70 %

58.15 %

57.56 %

460.26 %

-329.30 %

Adjusted efficiency ratio (non-GAAP) (1)

54.56 %

55.20 %

56.16 %

58.92 %

60.90 %

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

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

SOURCE Simmons First National Corporation