Simmons First National Corporation · NASDAQ:SFNC
Simmons First National — Q4 2025 Earnings Presentation
40 slides from Simmons First National's earnings presentation, Jan 21, 2026
Slide 1: 4th Quarter 2025 Earnings Presentation
Nasdaq SFNC 4th Quarter 2025 Earnings Presentation January 20, 2026
Slide 2: Company Overview Simmons First National Corporation
Company Overview Simmons First National Corporation A Mid-South based financial holding company serving our $24.5 $20.2 customers and the communities where we work and live since 1903 BILLION BILLION TOTAL ASSETS TOTAL DEPOSITS $9.4 $17.5 BILLION ASSETS UNDER BILLION 116 CONSECUTIVE YEARS PAYING DIV
Slide 3: 4Q25 Financial Highlights
4Q25 Financial Highlights 3
Slide 4: 4Q25 Highlights
4Q25 Highlights Reported Adjusted1 LQ Change ❑ Strong PPNR1 and EPS growth driving higher returns ─ Net interest margin up 31 bps reflecting first full quarter results after balance sheet repositioning and continued strategic focus on profitability and pricing discipline Net income $78.1M $79.0M 22%
Slide 5: Income Statement Highlights
Income Statement Highlights Net Interest Income Adjusted Total Revenue2 Adjusted PPNR2 $ in millions $ in millions $ in millions +20% +19% +60% $249.0 $197.3 $110.4 $186.7 $232.5 $92.8 6% 7% $214.2 $77.3 19% $171.8 $208.5 $209.6 $69.2 $66.0 $164.9 $163.4 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25
Slide 6: Deleveraging results have exceeded balance sheet repositioning guidance
Deleveraging results have exceeded balance sheet repositioning guidance Deleveraging Evolution1 $ in billions; Average Balances 2Q25 3Q25 4Q25 NIM1 3.06% 3.50% 3.81% $24.0 Repositioning Reported 3% 1% $20.0 26% Guidance4 4Q25 18% 16% $16.0 Net Interest Margin (FTE)2 3.50% 3.81% $12.0 73% 79% 83% $8.
Slide 7: Net Interest Margin (FTE)
Net Interest Margin (FTE) Net Interest Margin1 Net Interest Margin Evolution1 FTE (%) FTE +94 bps 9 bps 16 bps (2) bps 3.81% 3.81% (8) bps 3.50% 16 bps 3.06% +31 bps 3.50% 2.87% 2.95% 3Q25 Funding Mix Securities Hedges Loan Yield 4Q25 Rate Rate 4Q24 1Q25 2Q25 3Q25 4Q25 Select Yields/Rates FTE (%) Co
Slide 8: Noninterest Income
Noninterest Income 4Q25 Adjusted1 4Q25 vs Adjusted1 $ in millions Reported Adjusted1 3Q25 4Q24 Commentary Service charges on deposit accounts $ 12.7 $ 12.7 $(0.4) (3) % $(0.3) (2) % ❑ 4Q25 noninterest income exceeded the top end Wealth management fees 10.3 10.3 0.4 4 0.7 7 of management expectation
Slide 9: Noninterest Expense
Noninterest Expense 4Q25 Adjusted1 4Q25 vs Adjusted1 $ in millions Reported Adjusted1 3Q25 4Q24 Commentary Salaries and employee benefits $ 72.9 $ 72.9 $(3.0) (4) % $ 1.5 2 % ❑ Linked quarter decrease in salaries and employee Occupancy expense, net 11.6 11.2 (0.4) (4) (0.6) (5) benefits primarily re
Slide 10: Noninterest Expense: Steadfast focus on expense management discipline reflects…
Noninterest Expense: Steadfast focus on expense management discipline reflects… $ in millions 1.2% reduction in expense base over a 3-year period $566M $559M 1.3% $552M 2.3% $539M 4Q22 2023 2024 2025 Annualized Adjusted Adjusted Adjusted Adjusted Noninterest Expense1 Noninterest Expense1 Noninterest
Slide 11: Deposits, Interest Rate Sensitivity, Hedging Program and Capital
Deposits, Interest Rate Sensitivity, Hedging Program and Capital 11
Slide 12: Deposits
Deposits Deposit Mix $ in billions; Period End Balances 64% interest bearing Evolution of Funding Rates deposit beta since 2Q241 $21.9 $21.7 $21.8 $19.8 $20.2 9.3% 9.4% 5.33% 5.27% 15.1% 13.4% 14.8% 11.1% 12.0% 4.66% 14.0% 4.33% 4.33% 4.30% 13.0% 12.3% 14.7% 14.0% Customer 3.90% 3.53% 3.52% 14.2% 13
Slide 13: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio – Repricing and Maturity (contractual) CD Maturities (over the next 12 months) At December 31, 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 3.59% 3.98% 3.39% 3.98% 3.24% 2.
Slide 14: Hedging Program
Hedging Program Estimated Future Swap Income1 $ in millions; Based on forward rates $6.0 $5.4 $5.4 Hedging Program Update $5.1 $5.2 ❑ No additional hedging instruments added during 4Q25 ❑ Net interest income (NII) sensitivity remains slightly asset sensitive ❑ Hedging strategy designed to help prote
Slide 15: Capital: Focused on maintaining a strong capital position
Capital: Focused on maintaining a strong capital position Tier 1 Leverage Ratio1 CET 1 Capital Ratio1 Commentary 10.1% 12.4% 11.6% 10.0% 9.6% 11.5% ❑ $330M of subordinated debt due 2028 9.9% redeemed and paid in full on October 1, 2025 8.2% Reported ❑ Share Repurchase Program2 Adj. HTM Loss3 ▪ No sh
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 7% annualized Total Loans $303 $751 RE – Commercial $414 $17,189 $17,492 $(274) $(174) RE – Construction $(1) Funded loans Paydowns/ Oth
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 $1,538 Commentary $757 $1,244 $1,265 $564 $490 ❑ Continued focus on maintaining prudent underwriting st
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 12/31/25 By State By State NPL Ratio 0.49% 13% 2% Past Due 30+ Days 0.00% 16% 2% Average Loan Size $3.1M 32% $1.0B 9% 49
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 12/31/25 Top 10 MSAs Loans Commitments NPL Ratio 0.61% 16% Dallas-Plano-Irving 12.2% 11.9% Past Due 30+ Days 0.46% 41% Houston-Sugarland-Baytown
Slide 21: Loans: Loan portfolio by type and key credit metrics
Loans: Loan portfolio by type and key credit metrics as of September 30, 2025 as of December 31, 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 Cred
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 As of each quarter end $ in millions $ in millions $157.2 $153.9 $152.4 $2.7 $5.1 $153.9 $49.6 $49.3 $(4.3) $(0.7) $110.8 $49.8 $112.7 $(3.2) $5.5 $3.5 $8.5 $3.8 $3.3 $105.3 $98.8 $104.1 $101.3 $104.1
Slide 24: Credit Quality: ACL and net charge-offs
Credit Quality: ACL and net charge-offs ACL to Total Loans Net Charge-Offs $ in millions 1.50% 1.48% 1.48% 112 bps $48.7 14 bps $6.2 1.38% 0.18% 0.18% 0.18% Specific 0.09% Reserves $36.0 0.02% 0.03% 0.02% 0.02% 65 bps $28.2 1.28% 1.30% 1.28% 1.26% 1.27% Allocated Reserves $12.7 33 bps $14.3 1.00% 4Q
Slide 25: Outlook
Outlook 25
Slide 26: Driving positive operating leverage of 5%+
2026 Outlook $ in millions 2026 Outlook2 Outlook Commentary Total Loans (period end) Up Low to Mid • Improving growth outlook moderated by commitment to strong risk-adjusted returns through the (vs 2025 of $17,492) Single Digits cycle (soundness, profitability, and growth…in that order) Customer Dep
Slide 27: 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 28: Appendix
Appendix 28
Slide 29: Select Balance Sheet and Other Data
Select Balance Sheet and Other Data 4Q25 vs 3Q25 4Q25 vs 4Q24 $ in millions, except per share data 4Q25 3Q25 4Q24 $ Change % Change $ Change % Change Period End Balances Total loans $17,492.2 $17,188.8 $17,005.9 $303.4 2 % $486.2 3 % Investment securities 3,266.2 3,319.3 6,166.1 (53.1) (2) (2,899.8)
Slide 30: Income Summary
Income Summary 4Q25 Adjusted1 4Q25 vs Adjusted1 $ in millions, except per share data Reported Adjusted1 3Q25 4Q24 Net interest income $197.3 $197.3 $10.6 6 % $32.4 20 % Noninterest income 51.7 51.7 5.8 13 8.2 19 Total revenue 249.0 249.0 16.5 7 40.5 19 Noninterest expense 139.9 138.6 (1.1) (1) (0.7)
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q 1Q 2Q 3Q 4Q $ in thousands, except per share data 2024 2025 2025 2025 2025 Calculation of Adjusted Earnings1 Net Income (Loss) $ 48,319 $ 32,388 $ 54,773 $ (562,792) $ 78,078 Certain items Branch right sizing, net 1,581 994 163 2,004 85 Loss on sale of equipment finance b
Slide 32: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q 1Q 2Q 3Q 4Q $ in thousands 2024 2025 2025 2025 2025 Calculation of Pre-Provision Net Revenue (PPNR) Net interest income $ 164,942 $ 163,422 $ 171,824 $ 186,661 $ 197,296 Plus: Noninterest income 43,558 46,155 42,354 (756,187) 51,708 Less: Noninterest expense 141,117 144,5
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q 1Q 2Q 3Q 4Q $ in thousands, except number of employees (FTE) 2024 2025 2025 2025 2025 Calculation of Total Revenue and Adjusted Total Revenue Net Interest Income (GAAP) $ 164,942 $ 163,422 $ 171,824 $ 186,661 $ 197,296 Noninterest Income (GAAP) 43,558 46,155 42,354 (756,1
Slide 34: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q 1Q 2Q 3Q 4Q $ in thousands 2024 2025 2025 2025 2025 Calculation of Adjusted Noninterest Expense Noninterest Expense (GAAP) $ 141,117 $ 144,580 $ 138,589 $ 142,032 $ 139,862 Less: Branch right sizing expense 1,581 994 163 2,004 85 Less: Early retirement program 200 - 1,594
Slide 35: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q 3Q 4Q $ in thousands 2024 2025 2025 Calculation of Adjusted Salaries and Employee Benefits Salaries and employee benefits (GAAP) $ 71,588 $ 76,249 $ 72,924 Less: Early retirement program 200 305 - Less: Other - 1 - Total Adjusted Salaries and Employee Benefits (non-GAAP)
Slide 36: Non-GAAP Reconciliations
Non-GAAP Reconciliations 1Q 2Q 3Q 4Q $ in thousands 2025 2025 2025 2025 Calculation of NPL ratio, excluding two previously disclosed credit relationships Nonperforming loans $ 152,391 $ 157,162 $ 153,939 $ 112,739 Less: Two previously disclosed credit relationships 49,761 49,572 49,267 8,483 Nonperf
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations 4Q FY FY FY $ in thousands, except per share data 2022 2023 2024 2025 Calculation of Adjusted Noninterest Expense Noninterest Expense (GAAP) $ 142,575 $ 563,061 $ 557,543 $ 565,063 Less: Early retirement program - 6,198 536 1,899 Less: Termination of vendor and software serv
Slide 38: Non-GAAP Reconciliations
Non-GAAP Reconciliations 3Q 4Q 3Q 4Q $ in thousands 2025 2025 $ in thousands 2025 2025 Calculation of Tangible Common Equity (TCE) Calculation of Adjusted ROAA Total common stockholders’ equity $ 3,353,963 $ 3,419,240 Net income $ (562,792) $ 78,078 Less: Intangible assets 1,408,319 1,405,222 Adjust
Slide 39: 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 not
Slide 40: 4th Quarter 2025 Earnings Presentation
Nasdaq SFNC 4th Quarter 2025 Earnings Presentation January 20, 2026
Simmons First National — Q4 2025 Earnings Presentation on 6ix