Simmons First National Corporation · NASDAQ:SFNC
Simmons First National — Q3 2025 Earnings Presentation
39 slides from Simmons First National's earnings presentation, Oct 17, 2025
Slide 1: 3rd Quarter 2025 Earnings Presentation
Nasdaq SFNC 3rd Quarter 2025 Earnings Presentation October 16, 2025
Slide 2: Company Overview Simmons First National Corporation
Company Overview Simmons First National Corporation A Mid-South based financial holding company serving our $24.2 $19.8 customers and the communities where we work and live since 1903 BILLION BILLION TOTAL ASSETS TOTAL DEPOSITS $9.3 $17.2 BILLION ASSETS UNDER BILLION 116 CONSECUTIVE YEARS PAYING DIV
Slide 3: 3Q25 Financial Highlights
3Q25 Financial Highlights 3
Slide 4: 3Q25 Highlights
3Q25 Highlights Reported Adjusted1 LQ Change ❑ Completed Balance Sheet Repositioning Net income $(562.8)M $64.9M 16%1 ─ Net proceeds from common equity offering of ~$327M ─ Sold securities with a fair market value of ~$2.4B; after-tax loss of ~$626M EPS (diluted) $(4.00) $0.46 5%1 ─ Proceeds from se
Slide 5: Run-rate performance exceeds balance sheet repositioning guidance across the board
Run-rate performance exceeds balance sheet repositioning guidance across the board Repositioning Reported Sept-25 Commentary Guidance4 3Q25 Run-Rate3 ❑ 3Q results reflect a partial impact from balance sheet repositioning Net Interest Margin (FTE)1 3.50% 3.50% 3.76% ❑ Sept-25 run-rate outperforms ini
Slide 6: Income Statement Highlights
Income Statement Highlights Net Interest Income Adjusted Total Revenue2 Adjusted PPNR2 $ in millions $ in millions $ in millions $186.7 +9% $232.5 +20% $92.8 +9% $214.2 $77.3 $208.5 $209.6 $171.8 $203.2 $69.2 $66.4 $66.0 $164.9 $163.4 $157.7 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q2
Slide 7: Net Interest Margin (FTE)
Net Interest Margin (FTE) Net Interest Margin1 Deleveraging Evolution2 Net Interest Margin Evolution1 FTE (%) $ in billions; Average Balances FTE 2Q25 July-25 Aug-25 Sept-25 +76 bps 4 bps 3 bps 3.50% NIM1 3.06% 3.18% 3.62% 3.76% 38 bps (1) bps 3.50% $24.0 2.95% 3.06% $20.0 26% 24% 3.06% 2.87% +44 bp
Slide 8: Noninterest Income
Noninterest Income 3Q25 Adjusted 3Q25 vs Adjusted $ in millions Reported Adjusted1 2Q25 3Q24 Commentary Service charges on deposit accounts $ 13.0 $ 13.0 $ 0.5 4 % $ 0.3 3 % ❑ Continued focus on driving growth along major Wealth management fees 10.0 10.0 0.5 5 0.9 10 fee-based businesses results in
Slide 9: Noninterest Expense
Noninterest Expense 3Q25 Adjusted 3Q25 vs Adjusted Commentary $ in millions Reported Adjusted1 2Q25 3Q24 ❑ 3Q25 noninterest expense at top end of Salaries and employee benefits $ 76.2 $ 75.9 $ 3.7 5 % $ 6.8 10 % management expectations Occupancy expense, net 12.1 11.7 0.2 2 (0.3) (3) ▪ Full-year exp
Slide 10: Deposits, Securities, Liquidity, Interest Rate Sensitivity and Capital
Deposits, Securities, Liquidity, Interest Rate Sensitivity and Capital 10
Slide 11: Deposits
Deposits Decline in total deposits reflects reduction of higher Deposit Mix rate, non-relationship wholesale and public fund As a Percentage of Total Deposits $ in billions; Period End Balances Period End Balances 2Q25 3Q25 deposits as part of balance sheet repositioning $21.9 $21.9 $21.7 $21.8 Noni
Slide 12: Securities and Liquidity
Securities and Liquidity Securities Portfolio by Type Securities Portfolio Summary Securities Portfolio Bond Ratings2 5% 2% $ in millions Yield (FTE)1 Effective Duration At September 30, 2025 At September 30, 2025 AFS 25% AFS AFS Fixed Rate U.S. Guaranteed/GSE $2,508 Municipal 3.34% 13.02 Aaa/AAA 40
Slide 13: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio – Repricing and Maturity (contractual) CD Maturities (over the next 12 months) At September 30, 2025 $ in millions In millions Repricing Term Rate Structure Weighted Average Rates 3 mo 3-12 1-3 3-5 Over 5 Total Variable Fixed 3.72% 4.36% 3.58% 4.12% 3.30% 4.2
Slide 14: Hedging Program
Hedging Program Hedging Program Strategy Estimated Future Swap Income1 $ in millions; Based on forward rates ❑ Net interest income (NII) sensitivity moved from liability sensitive to asset sensitive post balance sheet $6.2 restructure $5.7 $5.3 $5.1 ❑ Evolved 3Q25 hedging strategy to protect NII fro
Slide 15: Capital: Economic Capital improves across the board following balance sheet repositioning
Capital: Economic Capital3 improves across the board following balance sheet repositioning Tier 1 Leverage Ratio1 CET 1 Capital Ratio1 12.4% 10.0% 9.6% 11.5% Capital Ratios (at 9/30/25) 8.2% 9.9% CET 1 Capital Ratio Total Risk-Based Capital Ratio Reported Adj. HTM Loss2,3 11.5% 15.1% Equity to Asset
Slide 16: Loan Portfolio
Loan Portfolio 16
Slide 17: Loans: Well-diversified, granular portfolio and conservative credit culture
Loans: Well-diversified, granular portfolio and conservative credit culture Loan Portfolio Waterfall Linked Quarter Change by Loan Type $ in millions $ in millions Total Loans $78 $2,113 RE – Commercial $(85) $17,111 $136 $17,189 $(2,171) RE – Construction $90 Funded loans Paydowns/ Other1 Commercia
Slide 18: Pipelines: Represent opportunities that meet disciplined appetite for credit and pricing
Pipelines: Represent opportunities that meet disciplined appetite for credit and pricing Commercial Loan Pipeline by Category $ in millions Opportunity Proposal Ready to Close $1,815 $1,631 $1,611 Commentary $757 $1,244 $1,265 $564 $490 ❑ Continued focus on maintaining prudent underwriting standards
Slide 19: Loans: Conservative LTVs underpin prudent underwriting standards in key sectors
Loans: Conservative LTVs underpin prudent underwriting standards in key sectors Loan Portfolio – Geographic diversification Office (non-owner occupied permanent) Key Statistics At 9/30/25 By State By State NPL Ratio 0.00% 16% Past Due 30+ Days 0.00% 2% 20% 2% 46% Average Loan Size $2.2M 33% 8% $0.7B
Slide 20: CLD: Quick recycling of capital given short duration of portfolio
CLD: Quick recycling of capital given short duration of portfolio Construction and Land Development (CLD) By State % of Total % of Total Key Statistics At 9/30/25 Top 10 MSAs Loans Commitments NPL Ratio 0.32% Dallas-Plano-Irving 10.6% 10.7% 27% Past Due 30+ Days 0.01% Nashville-Davidson-Murfreesboro
Slide 21: Loans: Loan portfolio by type and key credit metrics
Loans: Loan portfolio by type and key credit metrics as of June 30, 2025 as of September 30, 2025 % of % of Past Due 30+ Unfunded Unfunded Balance Total Balance Total Days Classified Nonperforming Commitment ACL Commitment $ in millions $ Loans $ Loans $ $ $ $ % Reserve Total Loan Portfolio Credit C
Slide 22: Credit Quality
Credit Quality 22
Slide 23: Credit Quality: Nonperforming and past due loans
Credit Quality: Nonperforming and past due loans Nonperforming Loans Nonperforming Loans Evolution $ in millions $ in millions $152.4 $157.2 $153.9 $3.9 $49.8 $49.6 $49.3 $110.8 $157.2 $101.7 $5.5 $(0.7) $(3.5) $3.5 $3.3 $0.6 $153.9 $7.4 $3.8 $(3.1) $(0.2) $(0.3) $105.3 $98.8 $104.1 $101.3 $94.3 3Q2
Slide 24: ACL: Loan loss provision and net charge-offs
ACL: Loan loss provision and net charge-offs Loan Loss Provision and Net Charge-Off Ratio $ in millions Credit Quality Commentary $40.0 0.40% ❑ Underlying credit metrics remain healthy 0.27% 0.25% ▪ 11 bps of loans past due 30-89 days, down 6 bps from 2Q25 levels $35.0 0.22% 0.23% 0.25% 0.30% 0.20%
Slide 25: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements. Certain statements by Simmons First National Corporation (the “Company”, which where appropriate includes the Company’s wholly-owned banking subsidiary, Simmons Bank) contained in this presentation may not be base
Slide 26: Appendix
Appendix 26
Slide 27: Select Balance Sheet and Other Data
Select Balance Sheet and Other Data 3Q25 vs 2Q25 3Q25 vs 3Q24 $ in millions, except per share data 3Q25 2Q25 3Q24 $ Change % Change $ Change % Change Period End Balances Total loans $17,188.8 $17,111.1 $17,336.0 $77.7 - % $(147.2) (1) % Investment securities 3,319.3 5,996.9 6,349.8 (2,677.6) (45) (3
Slide 28: Income Summary
Income Summary 3Q25 Adjusted 3Q25 vs Adjusted $ in millions, except per share data Reported Adjusted1 2Q25 3Q24 Net interest income $186.7 $186.7 $14.8 9 % $28.9 18 % Noninterest income (756.2) 45.9 3.5 8 0.4 1 Total revenue (569.5) 232.5 18.4 9 29.3 14 Noninterest expense 142.0 139.7 2.9 2 2.9 2 Pr
Slide 29: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 4Q 1Q 2Q 3Q $ in thousands, except per share data 2024 2024 2025 2025 2025 Calculation of Adjusted Earnings1 Net Income (Loss) $ 24,740 $ 48,319 $ 32,388 $ 54,773 $ (562,792) Certain items Branch right sizing, net 410 1,581 994 163 2,004 Loss (gain) on sale of securities
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 4Q 1Q 2Q 3Q $ in thousands 2024 2024 2025 2025 2025 Calculation of Pre-Provision Net Revenue (PPNR) Net interest income $ 157,712 $ 164,942 $ 163,422 $ 171,824 $ 186,661 Noninterest income 17,130 43,558 46,155 42,354 (756,187) Less: Noninterest expense 137,193 141,117 144
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 4Q 1Q 2Q 3Q $ in thousands, except number of employees (FTE) 2024 2024 2025 2025 2025 Calculation of Total Revenue and Adjusted Total Revenue Net Interest Income (GAAP) $ 157,712 $ 164,942 $ 163,422 $ 171,824 $ 186,661 Noninterest Income (GAAP) 17,130 43,558 46,155 42,354
Slide 32: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 4Q 1Q 2Q 3Q $ in thousands 2024 2024 2025 2025 2025 Calculation of Adjusted Noninterest Expense Noninterest Expense (GAAP) $ 137,193 $ 141,117 $ 144,580 $ 138,589 $ 142,032 Less: Branch right sizing expense 410 1,581 994 163 2,004 Less: Early retirement program (1) 200 -
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 2Q 3Q $ in thousands 2024 2025 2025 Calculation of Adjusted Salaries and Employee Benefits Salaries and employee benefits (GAAP) $ 69,167 $ 73,862 $ 76,249 Less: Early retirement program (1) 1,594 305 Less: Other 1 (1) 1 Total Adjusted Salaries and Employee Benefits (non-
Slide 34: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 2Q 3Q $ in thousands 2024 2025 2025 Calculation of Uninsured, Non-Collateralized Deposit Coverage Ratio Uninsured deposits at Simmons Bank $ 8,355,496 $ 8,407,847 $ 9,565,766 Less: Collateralized deposits (excluding portion that is FDIC insured) 2,710,167 2,691,215 2,169,
Slide 35: Non-GAAP Reconciliations
Non-GAAP Reconciliations 1Q 2Q 3Q $ in thousands 2025 2025 2025 Calculation of NPL ratio, excluding Two Specific Credit Relationships Nonperforming loans $ 152,391 $ 157,162 $ 153,939 Less: Two Specific Credit Relationships 49,761 49,572 49,267 Nonperforming Loans, excluding Two Specific Credit Rela
Slide 36: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 3Q 2Q 3Q $ in thousands 2025 2025 $ in thousands 2025 2025 Calculation of Tangible Common Equity (TCE) Calculation of Adjusted ROAA Total common stockholders’ equity $ 3,549,210 $ 3,353,963 Net income $ 54,773 $ (562,792) Less: Intangible assets 1,411,416 1,408,319 Adjust
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 2Q $ in thousands 2025 $ in thousands 2025 Calculation of Tier 1 Leverage Ratio Calculation of Total Risk-Based Capital Ratio Stockholders’ equity $ 3,549,210 Tier 1 capital $ 2,551,006 Less: Disallowed intangible assets, net of deferred tax 1,379,104 Plus: Subordinated n
Slide 38: Non-GAAP Reconciliations
Non-GAAP Reconciliations September September $ in thousands 2025 $ in thousands 2025 Calculation of Adjusted ROAA Calculation of Pre-Provision Net Revenue (PPNR) Net income $ 21,147 Net interest income $ 63,171 Plus: Branch right sizing costs 1,788 Plus: Noninterest income 15,734 Plus : Loss on earl
Slide 39: 3rd Quarter 2025 Earnings Presentation
Nasdaq SFNC 3rd Quarter 2025 Earnings Presentation October 16, 2025
Simmons First National — Q3 2025 Earnings Presentation on 6ix