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SIMMONS FIRST NATIONAL CORP

CIK:0000090498|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Loans, including fees	$ 274,271	$ 265,373	$ 541,558	$ 523,128
Interest bearing balances due from banks and federal funds sold	2,058	2,531	4,378	5,234
Investment securities	31,013	46,898	62,895	94,155
Mortgage loans held for sale	202	221	405	343
Assets held in trading accounts	136	0	258	0
TOTAL INTEREST INCOME	307,680	315,023	609,494	622,860
INTEREST EXPENSE
Deposits	95,532	126,339	193,134	256,793
Federal funds purchased and securities sold under agreements to repurchase	426	59	462	172
Other borrowings	5,873	10,613	7,619	18,327
Subordinated notes and debentures	5,222	6,188	10,484	12,322
TOTAL INTEREST EXPENSE	107,053	143,199	211,699	287,614
NET INTEREST INCOME	200,627	171,824	397,795	335,246
Provision for credit losses	17,434	11,945	32,056	38,742
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	183,193	159,879	365,739	296,504
NONINTEREST INCOME
Bank owned life insurance income	4,218	3,890	8,436	7,982
Other income	8,599	4,837	13,426	12,844
TOTAL NONINTEREST INCOME	47,939	42,354	92,136	88,509
NONINTEREST EXPENSE
Salaries and employee benefits	75,590	73,862	151,475	148,686
Occupancy expense, net	14,715	11,844	26,933	24,495
Furniture and equipment expense	5,739	5,474	11,162	10,939
Other real estate and foreclosure expense	695	216	1,010	414
Deposit insurance	4,450	4,917	6,745	10,308
Other operating expenses	46,550	42,276	91,087	88,327
TOTAL NONINTEREST EXPENSE	147,739	138,589	288,412	283,169
INCOME BEFORE INCOME TAXES	83,393	63,644	169,463	101,844
Provision for income taxes	16,702	8,871	34,228	14,683
NET INCOME	$ 66,691	$ 54,773	$ 135,235	$ 87,161
BASIC EARNINGS PER SHARE (in dollars per share)	$ 0.46	$ 0.43	$ 0.93	$ 0.69
DILUTED EARNINGS PER SHARE (in dollars per share)	$ 0.46	$ 0.43	$ 0.93	$ 0.69
Service charges on deposit accounts
NONINTEREST INCOME
Non-interest income	$ 12,329	$ 12,588	$ 24,985	$ 25,223
Debit and credit card fees
NONINTEREST INCOME
Non-interest income	9,008	8,567	17,511	17,013
Wealth management fees
NONINTEREST INCOME
Non-interest income	10,240	9,464	20,773	19,093
Mortgage lending income
NONINTEREST INCOME
Non-interest income	1,994	1,687	3,848	3,700
Other service charges and fees
NONINTEREST INCOME
Non-interest income	$ 1,551	$ 1,321	$ 3,157	$ 2,654

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 135,235	$ 87,161
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	19,944	20,967
Provision for credit losses	32,056	38,742
Net amortization of investment securities and assets	2,869	8,207
Net amortization on borrowings	198	76
Stock-based compensation expense	6,990	8,612
Loss (gain) on sale of closed branches	3,193	(245)
Loss (gain) on sale of foreclosed assets and other real estate owned	54	(214)
Gain on sale of mortgage loans held for sale	(4,407)	(3,856)
Loss on sale of loans	0	22
Deferred income taxes	17,070	(2,745)
Income from bank owned life insurance	(9,217)	(7,989)
Originations of mortgage loans held for sale	(158,113)	(133,193)
Proceeds from sale of mortgage loans held for sale	163,508	131,494
Changes in assets and liabilities:
Interest receivable	1,046	2,800
Assets held in trading accounts	(2,856)	0
Other assets	(1,795)	(18,601)
Accrued interest and other liabilities	(14,389)	(10,072)
Income taxes payable	(6,526)	(10,727)
Net cash provided by operating activities	184,860	110,439
INVESTING ACTIVITIES
Net change in loans	(667,862)	(146,363)
Proceeds from sale of loans	78,992	18,814
Proceeds from sale of closed branches	3,272	15,202
Purchases of premises and equipment, net	(25,300)	(21,486)
Proceeds from sale of foreclosed assets and other real estate owned	3,029	5,181
Proceeds from maturities of available-for-sale securities	185,299	218,417
Purchases of available-for-sale securities	(18,594)	(55,553)
Proceeds from maturities of held-to-maturity securities	0	41,152
Purchases of bank owned life insurance	0	(15,697)
Surrender of bank owned life insurance	0	19,403
Proceeds from bank owned life insurance death benefits	3,966	607
Net cash (used in) provided by investing activities	(437,198)	79,677
FINANCING ACTIVITIES
Net change in deposits	(455,928)	(60,760)
Proceeds from issuance of other borrowed funds	1,355,000	1,480,000
Repayments of other borrowed funds	(715,997)	(1,591,023)
Dividends paid on common stock	(62,269)	(53,532)
Net change in federal funds purchased and securities sold under agreements to repurchase	24,833	(5,803)
Net shares cancelled under stock compensation plans	(2,323)	(2,749)
Shares issued under employee stock purchase plan	838	836
Repurchases of common stock	(14,245)	0
Net cash provided by (used in) financing activities	129,909	(233,031)
DECREASE IN CASH AND CASH EQUIVALENTS	(122,429)	(42,915)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	711,913	687,377
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 589,484	$ 644,462

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and noninterest bearing balances due from banks	$ 377,602	$ 380,439
Interest bearing balances due from banks and federal funds sold	211,882	331,474
Cash and cash equivalents	589,484	711,913
Interest bearing balances due from banks - time	100	100
Available-for-sale, (amortized cost of $3,439,526 and $3,642,809 at June 30, 2026 and December 31, 2025, respectively)	3,077,181	3,266,221
Mortgage loans held for sale	16,450	17,438
Assets held in trading accounts	14,541	11,685
Loans	18,062,369	17,492,179
Allowance for credit losses on loans	(238,227)	(224,377)
Net loans	17,824,142	17,267,802
Premises and equipment	552,435	561,220
Foreclosed assets and other real estate owned	11,080	12,009
Interest receivable	103,016	104,062
Bank owned life insurance	545,252	540,001
Goodwill	1,320,799	1,320,799
Other intangible assets	78,228	84,423
Other assets	644,108	643,204
Total assets	24,776,816	24,540,877
Deposits:
Noninterest bearing transaction accounts	4,350,474	4,330,211
Interest bearing transaction accounts and savings deposits	11,133,265	11,141,169
Time deposits	4,244,371	4,712,658
Total deposits	19,728,110	20,184,038
Federal funds purchased and securities sold under agreements to repurchase	46,216	21,383
Other borrowings	941,256	302,253
Subordinated notes and debentures	312,028	317,714
Accrued interest and other liabilities	267,347	296,249
Total liabilities	21,294,957	21,121,637
Stockholders’ equity:
Common stock, Class A, $0.01 par value; 350,000,000 shares authorized at June 30, 2026 and December 31, 2025; 144,442,482 and 144,762,817 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,444	1,448
Surplus	2,837,845	2,846,581
Undivided profits	937,307	864,341
Accumulated other comprehensive loss	(294,737)	(293,130)
Total stockholders’ equity	3,481,859	3,419,240
Total liabilities and stockholders’ equity	$ 24,776,816	$ 24,540,877