Simmons First National Corporation · NASDAQ:SFNC
Simmons First National — Q2 2025 Earnings Presentation
38 slides from Simmons First National's earnings presentation, Jul 18, 2025
Slide 1: 2nd Quarter 2025 Earnings Presentation
Nasdaq SFNC 2nd Quarter 2025 Earnings Presentation July 17, 2025
Slide 2: Company Overview Simmons First National Corporation
Company Overview Simmons First National Corporation A Mid-South based financial holding company serving our $26.7 $21.8 customers and the communities where we work and live since 1903 BILLION BILLION TOTAL ASSETS TOTAL DEPOSITS $8.9 $17.1 BILLION ASSETS UNDER BILLION 116 CONSECUTIVE YEARS PAYING DIV
Slide 3: 2Q25 Financial Highlights
2Q25 Financial Highlights 3
Slide 4: 2Q25 Highlights
2Q25 Highlights ❑ Strong top-line growth drives performance ─ Adjusted net income of $56.1 million1 and adjusted diluted EPS of $0.441 Reported Adjusted1 ─ Net interest margin surpasses 3% mark ahead of expectations • Net interest margin at 3.06%, up 11 bps linked quarter and 37 bps year-over-year N
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights Average Loans Average Investment Securities Average Deposits $ in billions $ in billions $ in billions $22.0 $21.7 $21.9 $21.7 $21.4 $17.2 $17.2 $6.6 $17.1 $17.0 $17.4 $17.2 $17.4 $17.3 $16.9 $6.4 $17.0 $6.3 $6.1 $6.0 $4.6 $4.5 $4.5 $4.3 $4.4 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q
Slide 6: Income Statement Highlights
Income Statement Highlights Net Interest Income Total Revenue and Adjusted Total Revenue2 PPNR2 and Adjusted PPNR2 $ in millions $ in millions $ in millions $214.2 $214.2 $77.3 $171.8 $208.5 $208.5 $209.6 $209.6 $75.6 $203.2 $69.2 $66.4 $67.4 $65.0 $66.0 $164.9 $174.8 $163.4 $157.7 $37.6 3Q24 4Q24 1
Slide 7: Net Interest Margin (FTE)
Net Interest Margin (FTE) Net Interest Margin Net Interest Margin Evolution FTE (%) FTE 2 bps 3.06% 4 bps +37 bps 5 bps 2.95% Commentary 3.06% 2.95% 2.87% (2Q25 vs 1Q25) 2.74% +11 bps 2.69% ❑ Expansion primarily driven by fixed-rate asset repricing coupled with decreased deposit costs from lower rat
Slide 8: Noninterest Income
Noninterest Income 2Q25 Adjusted 2Q25 vs Adjusted $ in millions Reported Adjusted1 1Q25 2Q24 Service charges on deposit accounts $ 12.6 $ 12.6 $ - - % $ 0.3 3 % Commentary Wealth management fees 9.5 9.5 (0.2) (2) 0.3 3 ❑ Overall fee levels in-line with management Debit and credit card fees 8.6 8.6 0
Slide 9: Noninterest Expense
Noninterest Expense Commentary 2Q25 Adjusted 2Q25 vs Adjusted ❑ General decrease in expenses as we focused on $ in millions Reported Adjusted1 1Q25 2Q24 mitigating impact of 1Q25 fraud event Salaries and employee benefits $ 73.9 $ 72.3 ($2.6) (3) % $ 1.7 2 % ▪ Implemented early retirement program ▪
Slide 10: Deposits, Securities, Liquidity, Interest Rate Sensitivity and Capital
Deposits, Securities, Liquidity, Interest Rate Sensitivity and Capital 10
Slide 11: Deposits
Deposits Deposit Mix $ in billions; Period End Balances Linked Quarter Deposit Change1 $ in millions; Period End Balances Low-Cost $21.8 $21.9 $21.9 $21.7 $21.8 Customer Total Deposits $140 Deposits $2.9 $3.4 $3.3 $2.9 $3.2 $2.8 $2.7 $2.8 $3.0 $2.7 Noninterest Bearing Transaction Accounts $13 +$233M
Slide 12: Securities: Targeted mix of securities to earning assets in mid-teens
Securities: Targeted mix of securities to earning assets in mid-teens Securities Portfolio by Type Securities Portfolio Summary Securities Portfolio Bond Ratings2 $ in millions 8% 8% Yield (FTE)1 Effective Duration At June 30, 2025 At June 30, 2025 HTM AFS HTM AFS HTM AFS Fixed Rate U.S. Guaranteed/
Slide 13: Liquidity: Solid liquidity position and strategic use of wholesale funding
Liquidity: Solid liquidity position and strategic use of wholesale funding Cash and Cash Equivalents + Wholesale Funding Additional Liquidity Sources Variable Rate Securities $ in millions $ in millions $ in millions June 30, Change vs FHLB borrowing availability $ 5,133 $1,245 2025 1Q25 $1,145 $1,1
Slide 14: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio – Repricing and Maturity (contractual) CD Maturities (over the next 12 months) At June 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 3.91% 4.42% 3.59% 4.36% 3.46% 4.09% 2.
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 Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio1 12.00% 12.21% 12.36% 12.00% 12.21% 12.36% 14.59% 14.42% 14.17% 9.83% 9.96% 9.49% 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 2Q24 1Q
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 $17 $2,225 RE – Commercial $(90) $17,094 $40 $17,111 $(2,248) RE – Construction $7 Funded loans Paydowns/ Other1 Commercial2
Slide 18: Pipelines: Represent opportunities that meet pricing and disciplined credit appetite
Pipelines: Represent opportunities that meet pricing and disciplined credit appetite Commercial Loan Pipeline by Category $ in millions Opportunity Proposal Ready to Close $1,815 $1,631 Commentary $757 $1,244 $1,265 $564 ❑ Continued focus on maintaining prudent underwriting standards and pricing dis
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 6/30/25 By State By State NPL Ratio 0.00% 16% Past Due 30+ Days 0.00% 2% 19% 2% Average Loan Size $2.2M 33% $0.7B 47% 8%
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 6/30/25 Top 10 MSAs Loans Commitments NPL Ratio 0.36% Dallas-Plano-Irving 10.6% 10.3% 29% Past Due 30+ Days 0.19% 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 March 31, 2025 as of June 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 Card
Slide 22: Credit Quality
Credit Quality 22
Slide 23: Credit Quality: Underlying credit metrics remain healthy
Credit Quality: Underlying credit metrics remain healthy Key Credit Quality Metrics 2Q24 3Q24 4Q24 1Q25 2Q25 Commentary Loans past due 30-89 days 0.15% 0.20% 0.22% 0.21% 0.17% ❑ Underlying credit metrics remain healthy Net charge-off ratio 0.19% 0.22% 0.27% 0.23% 0.25% ▪ 17 bps of loans past due 30-
Slide 24: Credit Quality: Nonperforming and past due loans
Credit Quality: Nonperforming and past due loans Nonperforming Loans Evolution $ in millions $10.7 $1.7 $0.4 $157.2 $152.4 $(4.2) $(0.2) $(0.2) $(3.4) 1Q25 RE - RE - RE – Commercial Consumer & Run-Off Two Specific 2Q25 Construction Commercial Single Family Other1 Portfolio Credit Relationships Nonpe
Slide 25: 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 Commentary $40.0 0.40% 0.27% ❑ NCO ratio of 25 bps in 2Q25; provision expense exceeded net charge-offs 0.25% $35.0 0.22% 0.23% 0.30% 0.19% ▪ 3 bps associated with run-off portfolio1 0.20% $30.0 $2
Slide 26: 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 27: Appendix
Appendix 27
Slide 28: Select Balance Sheet and Other Data
Select Balance Sheet and Other Data 2Q25 vs 1Q25 2Q25 vs 2Q24 $ in millions, except per share data 2Q25 1Q25 2Q24 $ Change % Change $ Change % Change Period End Balances Total loans $17,111.1 $17,094.1 $17,192.4 $17.0 - % ($81.3) - % Investment securities 5,996.9 6,107.4 6,571.4 (110.6) (2) (574.5)
Slide 29: Income Summary
Income Summary 2Q25 Adjusted 2Q25 vs Adjusted $ in millions, except per share data Reported Adjusted1 1Q25 2Q24 Net interest income $171.8 $171.8 $8.4 5 % $ 17.9 12 % Noninterest income 42.4 42.4 (3.8) (8) (0.9) (2) Total revenue 214.2 214.2 4.6 2 17.0 9 Noninterest expense 138.6 136.8 (6.8) (5) (1.
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q $ in thousands, except per share data 2024 2024 2024 2025 2025 Calculation of Adjusted Earnings1 Net Income $ 40,763 $ 24,740 $ 48,319 $ 32,388 $ 54,773 Certain items Branch right sizing, net 519 410 1,581 994 163 Loss (gain) on sale of securities - 28,393 - -
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q $ in thousands 2024 2024 2024 2025 2025 Calculation of Pre-Provision Net Revenue (PPNR) Net interest income $ 153,905 $ 157,712 $ 164,942 $ 163,422 $ 171,824 Noninterest income 43,299 17,130 43,558 46,155 42,354 Less: Noninterest expense 139,354 137,193 141,11
Slide 32: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q $ in thousands, except number of employees (FTE) 2024 2024 2024 2025 2025 Calculation of Total Revenue and Adjusted Total Revenue Net Interest Income (GAAP) $ 153,905 $ 157,712 $ 164,942 $ 163,422 $ 171,824 Noninterest Income (GAAP) 43,299 17,130 43,558 46,155
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 3Q 4Q 1Q 2Q $ in thousands 2024 2024 2024 2025 2025 Calculation of Adjusted Noninterest Expense Noninterest Expense (GAAP) $ 139,354 $ 137,193 $ 141,117 $ 144,580 $ 138,589 Less: Branch right sizing expense 519 410 1,581 994 163 Less: Early retirement program 118 (1) 200
Slide 34: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 1Q 2Q $ in thousands 2024 2025 2025 Calculation of Adjusted Salaries and Employee Benefits Salaries and employee benefits (GAAP) $ 70,716 $ 74,824 $ 73,862 Less: Early retirement program 118 - 1,594 Less: Other (1) - (1) Total Adjusted Salaries and Employee Benefits (non-
Slide 35: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 1Q 2Q $ in thousands 2024 2025 2025 Calculation of Tangible Common Equity (TCE) Total common stockholders’ equity $ 3,458,869 $ 3,531,485 $ 3,549,210 Less: Intangible assets (1,425,742) (1,414,513) (1,411,416) Total tangible common stockholders’ equity (non-GAAP) $ 2,033,
Slide 36: Non-GAAP Reconciliations
Non-GAAP Reconciliations 2Q 1Q 2Q $ in thousands 2024 2025 2025 Calculation of Uninsured, Non-Collateralized Deposit Coverage Ratio Uninsured deposits at Simmons Bank $ 8,186,903 $ 8,614,833 $ 8,407,847 Less: Collateralized deposits (excluding portion that is FDIC insured) 2,835,424 3,005,328 2,691,
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations 1Q 2Q $ in thousands 2025 2025 Calculation of NPL ratio, excluding Two Specific Credit Relationships Nonperforming loans $ 152,391 $ 157,162 Less: Two Specific Credit Relationships 49,761 49,572 Nonperforming Loans, excluding Two Specific Credit Relationships (non-GAAP) $ 10
Slide 38: 2nd Quarter 2025 Earnings Presentation
Nasdaq SFNC 2nd Quarter 2025 Earnings Presentation July 17, 2025
Simmons First National — Q2 2025 Earnings Presentation on 6ix