Simmons First National Corporation Reports Record Earnings for 2021

Rhea-AI Summary

Simmons First National Corporation (NASDAQ: SFNC) reported record net income of $271.2 million for 2021, a 6 percent increase from 2020. Diluted EPS rose to $2.46, reflecting strong operational performance despite merger-related costs. Newly funded loans topped $2.6 billion in Q4, with a 31% surge in unfunded commitments. A new $175 million share repurchase program was authorized, alongside a 6 percent increase in cash dividends. Total deposits climbed to $19.4 billion, up $2.4 billion year-over-year, signaling robust growth and acquisition success.

Positive

• Record net income of $271.2 million for 2021, up 6% from 2020.
• Diluted EPS increased to $2.46, up 6% from 2020.
• Newly funded loans reached $2.6 billion in Q4 2021.
• Unfunded commitments rose by 31% quarter-over-quarter.
• Total deposits increased to $19.4 billion, up $2.4 billion from 2020.
• Authorized new $175 million share repurchase program after exhausting previous capacity.

Negative

• Q4 net income decreased to $48.2 million from $53.0 million year-over-year.
• Diluted EPS in Q4 2021 was $0.42, down from $0.49 in Q4 2020.
• Noninterest income fell to $191.8 million in 2021, down from $239.8 million in 2020.

Board of Directors authorizes new $175 million share repurchase program after substantially exhausting prior program in January 2022 and approves a 6 percent increase in the quarterly cash dividend

• Net income of $271.2 million for the full year of 2021, up 6 percent from the full year of 2020
  
  
• Diluted EPS of $2.46 for the full year of 2021, up 6 percent compared to $2.31 for the full year of 2020
  
  
• Diluted EPS of $0.42 for the fourth quarter of 2021; core diluted EPS of $0.52 in the quarter
  
  
• Newly funded loans and advances top $2.6 billion in the quarter; commercial loan pipeline increases for 5^th consecutive quarter, up 56 percent on a linked quarter basis, and unfunded commitments rise 31 percent linked quarter
  
  
• Total deposits rise to $19.4 billion at year-end 2021, up $2.4 billion since year-end 2020, reflecting continued growth and acquisition-related activity; change in mix coupled with ability to effectively manage rates results in 17 bps year-over-year decline in deposit costs
  
  
• Asset quality metrics remain sound; nonperforming assets as a percentage of total assets at the end of 2021 were 0.31 percent, compared to 0.64 percent at the end of 2020, while net charge-offs totaled 13 basis points in 2021, compared to 45 basis points in 2020. Continued improvement in metrics and macroeconomic scenario models results in $1.3 million provision expense recapture in the fourth quarter
  
  
• Strong capital position and ability to organically generate capital results in $211.3 million of capital returned to shareholders in 2021 through a combination of cash dividends and share repurchases. Approximately 2.6 million shares of common stock repurchased during the fourth quarter of 2021. Remaining capacity under the share repurchase program substantially exhausted in January 2022
  
  
• Book value per share ends the year at $28.82, representing a 5 percent increase year-over-year. Tangible book value per share at $17.71, a 7 percent increase year-over-year
  
  

PINE BLUFF, Ark., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Simmons First National Corporation (NASDAQ: SFNC) (the “Company” or “Simmons”) today reported record net income of $271.2 million for the year ended December 31, 2021, up $16.3 million, or 6 percent, compared to $254.9 million earned during the full year 2020. Diluted earnings per share for 2021 were $2.46, up $0.15, or 6 percent, compared to $2.31 earned in 2020. Included in 2021 results were $7.2 million in net after-tax merger related costs, gains on sale of branches and net branch right-sizing costs. Excluding the impact of these items, core earnings were $278.3 million for the year ended December 31, 2021, compared to $264.3 million for the full year of 2020. Core diluted earnings per share were $2.53 for 2021, compared to $2.40 for 2020.

Net income for the fourth quarter of 2021 was $48.2 million, compared to $53.0 million in the fourth quarter of 2020. Diluted earnings per share for the fourth quarter of 2021 were $0.42, compared to $0.49 for the fourth quarter of 2020. Included in fourth quarter 2021 results were $13.6 million (pre-tax) of merger related costs, primarily associated with the acquisitions of Landmark Community Bank (“Landmark”) and Triumph Bancshares, Inc. (“Triumph”), which were completed and integrated in early October 2021. Excluding the impact of merger related and net branch rightsizing costs, core earnings were $59.5 million in the fourth quarter of 2021, compared to $62.0 million in the fourth quarter of 2020.

“Simmons delivered record earnings in 2021 while continuing to navigate the headwinds brought about by the pandemic and the resulting impact on economic and business conditions,” said George A. Makris, Jr, Simmons’ chairman and CEO. “In addition to our strong financial performance, the year also brought our return to M&A activity with our acquisitions of Landmark Community Bank and Triumph Bancshares, Inc., which have significantly enhanced our size and scale in Tennessee where we now rank as the 8^th largest bank based on deposit market share. Shortly after the acquisition and integration of these two banks in October, we announced a definitive agreement to acquire Spirit of Texas Bancshares, Inc., which will further strengthen our Texas franchise and establish a platform for growth in Houston, Austin, San Antonio and College Station. We look forward to welcoming our new customers, associates and shareholders to the Simmons family later this year.”

“While overall loan growth was muted for much of the year given the high levels of liquidity throughout the system, we are beginning to see positive signs that indicate an increase in business activity and a return to more normalized loan demand. Newly funded loans and advances topped $2.6 billion in the fourth quarter while unfunded commitments, considered a leading indicator of future loan growth, rose 31 percent during the quarter. Equally important, our commercial loan pipeline rose for the fifth consecutive quarter and is more than double that of a year ago. We are encouraged by this positive momentum and believe that our strong capital position and outstanding deposit base well position us for another strong year in 2022.”

  

Selected Highlights:	FY 2021		FY 2020		Q4 21		Q4 20
Net income	$271.2 million		$254.9 million		$48.2 million		$53.0 million
Diluted earnings per share	$2.46		$2.31		$0.42		$0.49
Return on avg assets	1.15%		1.18%		0.77%		0.96%
Return on avg common equity	8.83%		8.72%		5.87%		7.13%
Return on tangible common equity (1)	14.99%		15.25%		9.98%		12.48%
Core earnings (2)	$278.3 million		$264.3 million		$59.5 million		$62.0 million
Core diluted earnings per share (2)	$2.53		$2.40		$0.52		$0.57
Core return on avg assets (2)	1.18%		1.22%		0.96%		1.13%
Core return on avg common equity (2)	9.06%		9.05%		7.24%		8.34%
Core return on tangible common equity (1)(2)	15.38%		15.79%		12.19%		14.51%
Efficiency ratio (3)	57.92%		54.18%		59.48%		54.75%
Adjusted pre-tax, pre-provision earnings (2)	$293.9 million		$352.7 million		$73.7 million		$83.1 million

(1)   Return on tangible common equity excludes goodwill and other intangible assets and is a non-GAAP measurement. See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.
(2)   Core and adjusted figures exclude non-core items and are non-GAAP measurements. See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.
(3)   Efficiency is a non-GAAP measurement. See “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.

Loans

($ in billions)	Q4 21		Q3 21		Q2 21		Q1 21		Q4 20
Total loans	$12.0		$10.8		$11.4		$12.2		$12.9
Total loans excluding PPP	$11.9		$10.6		$10.9		$11.4		$12.0

Total loans at the end of the fourth quarter of 2021 were $12.0 billion, compared to $10.8 billion at the end of the third quarter of 2021 and $12.9 billion at the end of the fourth quarter of 2020. The decrease in total loans from a year ago reflects planned run-off in certain targeted portfolios, Paycheck Protection Program (“PPP”) loan forgiveness, and increased paydowns and payoffs that were exacerbated by higher than normal levels of liquidity made available during the pandemic. The increase in total loans on a linked quarter basis primarily reflects loans acquired in connection with the Landmark and Triumph acquisitions, and an increase in loan production, which offset paydowns and payoffs during the quarter.

At the same time, evidence suggests that loan demand is beginning to return to more normalized levels. During the fourth quarter of 2021, newly funded loans and advances totaled $2.6 billion, up from $1.5 billion during the third quarter of 2021. Unfunded commitments rose for the third consecutive quarter, including a 31 percent increase on a linked quarter basis. Momentum in our commercial pipeline continued during the quarter with all loan opportunities totaling $2.3 billion, an increase of 56 percent on a linked quarter basis and more than double the levels of a year ago. This marked the fifth consecutive quarter of increased activity in the commercial pipeline as each respective category showed double-digit increases from third quarter 2021 levels. Equally important, the increases were broad-based across most of our markets and across our business units.

Deposits

($ in billions)	Q4 21		Q3 21		Q2 21		Q1 21		Q4 20
Total deposits	$19.4		$18.1		$18.3		$18.2		$17.0
Noninterest bearing deposits	$5.3		$4.9		$4.9		$4.9		$4.5
Interest bearing deposits	$11.6		$10.7		$10.6		$10.3		$9.7
Time deposits	$2.5		$2.5		$2.8		$3.0		$2.8

Total deposits at the end of the fourth quarter of 2021 were $19.4 billion, an increase of $2.4 billion, or 14 percent, from $17.0 billion at the end of the fourth quarter of 2020. Total noninterest bearing deposits accounts totaled $5.3 billion, up $843 million, or 19 percent, from $4.5 billion at the end of the fourth quarter a year ago. Interest bearing deposits (checking, savings and money market accounts) totaled $11.6 billion, up $1.9 billion, or 20 percent, compared to $9.7 billion at the end of 2020. The year-over-year increases in each of these categories reflects an increase in customers as well as acquired deposits from the Landmark and Triumph acquisitions. Time deposits totaled $2.5 billion at the end of the fourth quarter of 2021, down 13 percent compared to $2.8 billion at the end of 2020.

Net Interest Income

	Q4 21	Q3 21	Q2 21	Q1 21	Q4 20
Loan yield (1)	4.58%	4.76%	4.73%	4.75%	4.74%
Security yield (1)	1.74%	1.77%	1.97%	2.36%	2.48%
Cost of interest bearing deposits	0.23%	0.27%	0.32%	0.41%	0.47%
Cost of deposits (2)	0.17%	0.20%	0.24%	0.30%	0.34%
Cost of borrowed funds	1.95%	1.96%	1.97%	1.91%	1.88%
Net interest spread (1)	2.74%	2.72%	2.74%	2.83%	3.04%
Net interest margin (1)	2.86%	2.85%	2.89%	2.99%	3.22%

(1)   Fully tax equivalent using an effective tax rate of 26.135%.
(2)   Includes noninterest bearing deposits.

Net interest income for the fourth quarter of 2021 totaled $153.1 million, compared to $155.0 million in the fourth quarter of 2020, a decrease of 1 percent. Included in net interest income is accretion recognized on loans acquired, which totaled $5.8 million in the fourth quarter of 2021 and $9.0 million in the fourth quarter of 2020. Also included in net interest income is interest income on PPP loans, which totaled $5.1 million in the fourth quarter of 2021 and $6.5 million in the fourth quarter of 2020. The decrease in net interest income from a year ago reflects lower average loan balances, a decrease in loan yields and lower contributions from accretion and PPP loans, offset in part by our ability to successfully reduce deposit costs.

The yield on loans for the fourth quarter of 2021 was 4.58 percent, compared to 4.76 percent in the third quarter of 2021 and 4.74 percent in the fourth quarter of 2020. Cost of deposits for the fourth quarter of 2021 was 17 basis points, down 3 basis points on a linked quarter basis and down 17 basis points compared to the fourth quarter of 2020. Net interest margin on a fully taxable equivalent basis was 2.86 percent for the fourth quarter of 2021, compared to 2.85 percent in the third quarter of 2021 and 3.22 percent in the fourth quarter of 2020. Throughout 2021, the Company strategically redeployed excess liquidity through the purchase of investment securities, including short-term variable rate securities. At December 31, 2021, short-term, variable securities totaled approximately $1.5 billion.

Noninterest Income
Noninterest income for 2021 was $191.8 million, compared to $239.8 million recorded in 2020. The decrease in noninterest income was primarily due to a $39.3 million decrease in gains on sales of investment securities and a $12.7 million decrease in mortgage lending income, offset in part by a $3.5 million increase in debit and credit card fees as a result of an increased usage and a higher number of customers.

Noninterest income for the fourth quarter of 2021 was $46.6 million, compared to $41.8 million in the fourth quarter of 2020. The increase in noninterest income compared to a year ago was broad based as most of our fee-based businesses posted gains, including mortgage lending income up $2.1 million, service charges on deposit accounts up $1.1 million, debit and credit card fee up $1.0 million and wealth management fees up $0.8 million.

Select Noninterest Income Items ($ in millions)	FY 2021		FY 2020		Q4 21			Q4 20
Service charges on deposit accounts	$43.2		$43.1		$11.9			$10.8
Wealth management fees	$31.2		$30.4		$8.0			$7.2
Debit and credit card fees (1)	$28.2		$24.7		$7.5			$6.4
Mortgage lending income	$21.8		$34.5		$5.0			$3.0
Bank owned life insurance	$8.9		$5.8		$2.8			$1.5
Gain on sale of securities	$15.5		$54.8		$(0.4)			-
Other income	$35.3		$39.9		$10.0			$11.0
Core other income (2)	$29.6		$31.1		$10.0			$10.8

(1)   During the second quarter of 2021, certain debit and credit card transaction fees were reclassified from noninterest expense to noninterest income. Prior periods have been adjusted to reflect this reclassification.
(2)   Core figures exclude non-core items and are non-GAAP measurements. Please see “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.

Noninterest Expense
Noninterest expense for 2021 was $483.6 million, down $1.1 million, or less than 1 percent, compared to $484.7 million recorded in 2020. Included in 2021 noninterest expense are pre-tax, non-core items totaling $15.3 million that primarily consist of merger-related expenses ($15.9 million, pre-tax). Excluding these items, core noninterest expense for 2021 was $468.2 million, compared to core noninterest expense of $463.2 million for 2020. The increase was primarily attributable to an increase in salaries and benefits (+$6.9 million), offset in part by a decline in furniture and equipment expense (-$4.0 million).

Noninterest expense for the fourth quarter of 2021 totaled $141.6 million, compared to $125.8 million in the fourth quarter of 2020. Included in noninterest expense are pre-tax, non-core items totaling $15.2 million that primarily consisted of merger-related expenses ($13.6 million, pre-tax). Excluding these items, core noninterest expense for the fourth quarter of 2021 was $126.4 million, compared to $113.4 million in the fourth quarter of 2020. The increase in noninterest expense was primarily due to the addition of operating expenses associated with the acquired banks at the beginning of the quarter. Expected costs saves from the acquisitions are expected to be achieved, in their entirety, in 2022. During the fourth quarter of 2021, the Company also donated $2.5 million to the Simmons First Foundation.

Select Noninterest Expense Items ($ in millions)	FY 2021		FY 2020		Q4 21		Q4 20
Salaries and employee benefits	$246.3		$242.5		$63.9		$55.8
Occupancy expense, net	$38.8		$37.6		$11.0		$9.2
Furniture and equipment expense	$19.9		$24.0		$4.7		$5.9
Merger related costs	$15.9		$4.5		$13.6		$0.7
Other operating expenses (1)	$153.6		$165.2		$45.7		$52.0
Core salaries and employee benefits (2)	$246.2		$239.4		$63.8		$55.6
Core other operating expenses (2)	$157.1		$153.0		$45.8		$41.8

(1)   During the second quarter of 2021, certain debit and credit card transaction fees were reclassified from noninterest expense to noninterest income. Prior periods have been adjusted to reflect this reclassification.
(2)   Core figures exclude non-core items and are non-GAAP measurements. Please see “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.

Asset Quality

($ in millions)	Q4 21	Q3 21	Q2 21	Q1 21	Q4 20
Allowance for credit losses on loans to total loans	1.71%	1.87%	2.00%	1.93%	1.85%
Allowance for credit losses on loans to nonperforming loans	300%	341%	281%	204%	193%
Nonperforming loans to total loans	0.57%	0.55%	0.71%	0.95%	0.96%
Net charge-off ratio (annualized)	0.31%	0.17%	(0.07%)	0.10%	0.52%
Net charge-off ratio YTD (annualized)	0.13%	0.06%	0.01%	0.10%	0.45%
Total nonperforming loans	$68.6	$59.4	$80.9	$115.5	$123.5
Total other nonperforming assets	$7.7	$13.5	$16.3	$12.4	$20.4

Credit quality metrics showed marked improvement throughout the year. Total nonperforming assets as a percentage of total assets were 0.31 percent at the end of 2021, compared to 0.64 percent at the end of 2020. Total nonperforming loans at the end of the fourth quarter of 2021 totaled $68.6 million, down $54.9 million compared to $123.5 million at the end of the fourth quarter a year ago. Net charge-offs as a percentage of average loans for the full year of 2021 were 13 basis points, down from 45 basis points reported for the full year of 2020. Net charge-offs for the fourth quarter of 2021 were 31 basis points, compared to 52 basis points for the fourth quarter of 2020. Provision for credit losses for the full year of 2021 was a credit of $32.7 million compared to expense of $75.0 million for the full year of 2020, reflecting positive trends in asset quality metrics throughout the year and improved economic modeling scenarios that in the prior year were negatively impacted by the corresponding impact of the pandemic on the macroeconomic environment. Provision for credit losses on loans during the fourth quarter of 2021 was a credit of $1.3 million, compared to expense of $6.9 million during the fourth quarter of 2020.

The allowance for credit losses on loans at the end of 2021 was $205.3 million, compared to $238.1 million at the end of 2020. During the fourth quarter of 2021, the Company recorded allowance of $13.4 million in connection with Purchase Credit Deteriorated loans acquired in the Landmark and Triumph acquisitions. The allowance to loan ratio ended 2021 at 1.71 percent, compared to 1.85 percent at the end of 2020, and the nonperforming loan coverage ratio was 300 percent at the end of 2021, compared to 193 percent at the end of 2020.

Capital

	Q4 21	Q3 21	Q2 21	Q1 21	Q4 20
Stockholders’ equity to total assets	13.1%	13.1%	13.0%	12.6%	13.3%
Tangible common equity to tangible assets (1)	8.5%	8.4%	8.4%	7.9%	8.5%
Regulatory common equity tier 1 ratio	13.8%	14.3%	14.2%	14.1%	13.4%
Regulatory tier 1 leverage ratio	9.1%	9.1%	9.0%	9.0%	9.1%
Regulatory tier 1 risk-based capital ratio	13.8%	14.3%	14.2%	14.1%	13.4%
Regulatory total risk-based capital ratio	16.8%	17.4%	17.5%	17.5%	16.8%

(1)   Tangible common equity to tangible assets is a non-GAAP measurement. Please see “Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Financial Measures” below.

Total common stockholders’ equity at the end of 2021 was $3.2 billion, compared to $3.0 billion at the end of 2020. During the fourth quarter of 2021, the Company redeemed its outstanding preferred stock totaling approximately $767 thousand. Book value per share at the end of the fourth quarter of 2021 was $28.82, compared to $27.53 at the end of the fourth quarter of 2020. Tangible book value per share was $17.71 at the end of the fourth quarter of 2021, compared to $16.56 at the end of the fourth quarter of 2020. The ratio of stockholders’ equity to total assets at December 31, 2021 was 13.1 percent, while tangible common equity to tangible total assets was 8.5 percent. All of the Company’s regulatory capital ratios continue to significantly exceed “well-capitalized” guidelines, and it is noteworthy that the increase in book value per share and tangible book value per share was accomplished while also completing the acquisitions of Landmark and Triumph, paying cash dividends and actively utilizing the Company’s stock repurchase program.

Share Repurchase Program and Cash Dividend
As a result of the Company’s strong capital position and ability to organically generate capital, the Company’s board of directors has declared a quarterly cash dividend on the Company’s Class A common stock of $0.19 per share, which is payable on April 4, 2022, to shareholders of record as of March 15, 2022. The cash dividend rate represents an increase of $0.01 per share, or 6 percent, from the dividend paid for the same time period last year.

During the fourth quarter of 2021, the Company repurchased approximately 2.6 million shares of its Class A common stock at an average price of $29.69 pursuant to the Company’s stock repurchase program, which was originally approved in October 2019 (the “2019 Program”). Remaining capacity under the 2019 Program at the end of 2021 totaled approximately $20.6 million. During January 2022, the Company substantially exhausted the remaining capacity under the 2019 Program.

Therefore, the Company also announced today that its board of directors has authorized a new stock repurchase program (the “New Program”) under which the Company may repurchase up to $175,000,000 of its Class A common stock currently issued and outstanding. The New Program replaces the 2019 Program.

Under the New Program, the Company may repurchase shares of its common stock through open market and privately negotiated transactions or otherwise. The timing, pricing, and amount of any repurchases under the New Program will be determined by the Company’s management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the Company’s common stock, corporate considerations, the Company’s working capital and investment requirements, general market and economic conditions, and legal requirements. The New Program does not obligate the Company to repurchase any common stock and may be modified, discontinued, or suspended at any time without prior notice. The Company anticipates funding for the New Program to come from available sources of liquidity, including cash on hand and future cash flow. The New Program will terminate on January 31, 2024 (unless terminated sooner).

Simmons First National Corporation
Simmons First National Corporation (NASDAQ: SFNC) is a Mid-South based financial holding company whose principal subsidiary, Simmons Bank, operates 199 financial centers in Arkansas, Missouri, Tennessee, Texas, Oklahoma and Kansas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. Simmons Bank was named to Forbes’ list of “World’s Best Banks” for the second consecutive year and ranked among the top 30 banks in Forbes’ list of “America’s Best Banks” for 2021. Additional information about Simmons and Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on Twitter or by visiting our newsroom.

Conference Call
Management will conduct a live conference call to review this information beginning at 9:00 a.m. Central Time today, Thursday, January 27, 2022. Interested persons can listen to this call by dialing toll-free 1-866-298-7926 (United States and Canada only) and asking for the Simmons First National Corporation conference call, conference ID 7373369. In addition, the call will be available live or in recorded version on the Company’s website at simmonsbank.com for at least 60 days.

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 income available to common shareholders, non-interest income, and non-interest expense certain income and expenses related to significant non-core activities, including merger-related expenses, gain on sale of branches, early retirement program expenses and net branch right-sizing expenses. 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 PPP loans. 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. 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 core businesses, and management uses these non-GAAP financial measures to assess the performance of the Company’s core 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 news 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. Makris’s quotes, 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, lending capacity and lending activity, loan demand, revenue, assets, asset quality, profitability, net interest margin, non-interest revenue, share repurchase program, acquisition strategy, digital banking initiatives, the Company’s ability to recruit and retain key employees, branch closures and branch sales, the adequacy of the allowance for credit losses, the ability of the Company to manage the impacts of the COVID-19 pandemic, and the impacts of the Company’s and its customers’ participation in the PPP. Any forward-looking statement speaks only as of the date of this news release, and Simmons undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news 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, credit quality, interest rates, loan demand, deposit flows, real estate values, the assumptions used in making the forward-looking statements, the securities markets generally or the price of Simmons’ common stock specifically, and information technology affecting the financial industry; the effect of steps the Company takes and has taken in response to the COVID-19 pandemic; the severity and duration of the pandemic, including the effectiveness of “booster” vaccination efforts and developments with respect to COVID-19 variants; the pace of recovery when the pandemic subsides and the heightened impact it has on many of the risks described herein; the effects of the COVID-19 pandemic on, among other things, the Company’s operations, liquidity, and credit quality; general economic and market conditions; unemployment; claims, damages, and fines related to litigation or government actions, including litigation or actions arising from the Company’s participation in and administration of programs related to the COVID-19 pandemic; changes in accounting principles relating to loan loss recognition (current expected credit losses, or CECL); the ability to obtain regulatory approvals and meet other closing conditions to the proposed merger of Spirit of Texas Bancshares, Inc. (“Spirit”) with and into the Company (“Proposed Transaction”); delay in closing the Proposed Transaction; difficulties and delays in integrating the acquired business or fully realizing cost savings and other benefits of the Proposed Transaction; the Company’s ability to manage and successfully integrate its mergers and acquisitions; cyber threats, attacks or events; 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. 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, 2020, 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.

Important Additional Information and Where to Find It
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the Proposed Transaction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In connection with the Proposed Transaction, the Company has filed with the SEC a registration statement on Form S-4 (the “Registration Statement”) to register the shares of Company common stock that will be issued to Spirit shareholders in the Proposed Transaction. The Registration Statement includes a proxy statement of Spirit and a prospectus of the Company (the “Proxy Statement/Prospectus”), and the Company and/or Spirit may file with the SEC other relevant documents concerning the Proposed Transaction. The definitive Proxy Statement/Prospectus is being mailed to shareholders of Spirit. SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION CAREFULLY AND IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BY THE COMPANY AND/OR SPIRIT, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Free copies of the Proxy Statement/Prospectus, as well as other filings containing information about the Company and Spirit, may be obtained at the SEC’s Internet site (http://www.sec.gov), when they are filed by the Company or Spirit. You will also be able to obtain these documents, when they are filed, free of charge, from the Company at simmonsbank.com under the heading “Investor Relations” or from Spirit at www.sotb.com under the “Investor Relations” link. Copies of the Proxy Statement/Prospectus can also be obtained, free of charge, by directing a request to the Company at Simmons First National Corporation, 501 Main Street, Pine Bluff, Arkansas 71601, Attention: Ed Bilek, Director of Investor Relations, Email: ed.bilek@simmonsbank.com or ir@simmonsbank.com, Telephone: (870) 541-1000; or by directing a request to Spirit at Spirit of Texas Bancshares, Inc., 1836 Spirit of Texas Way, Conroe, Texas 77301, Attention: Corporate Secretary, Email: jgoleman@sotb.com, Telephone: (936) 521-1836.

Participants in the Solicitation
The Company, Spirit, and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Spirit in connection with the Proposed Transaction. Information about the Company’s directors and executive officers is available in its proxy statement for its 2021 annual meeting of shareholders, which was filed with the SEC on April 15, 2021. Information about Spirit’s directors and executive officers is available in its proxy statement for its 2021 annual meeting of shareholders, which was filed with the SEC on April 9, 2021. Information regarding all of the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus regarding the Proposed Transaction and other relevant materials to be filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.

FOR MORE INFORMATION CONTACT:
Ed Bilek
EVP, Director of Investor Relations
Simmons First National Corporation
ed.bilek@simmonsbank.com

Simmons First National Corporation													SFNC
Consolidated End of Period Balance Sheets
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	209,190		$	225,500		$	215,381		$	227,713		$	217,499
Interest bearing balances due from banks and federal funds sold		1,441,463			1,555,913			2,123,743			3,677,750			3,254,653
Cash and cash equivalents		1,650,653			1,781,413			2,339,124			3,905,463			3,472,152
Interest bearing balances due from banks - time		1,882			1,780			1,335			1,334			1,579
Investment securities - held-to-maturity		1,529,221			1,516,797			931,352			609,500			333,031
Investment securities - available-for-sale		7,113,545			6,822,203			6,556,581			4,528,348			3,473,598
Mortgage loans held for sale		36,356			34,628			36,011			63,655			137,378
Other assets held for sale		100			100			100			100			100
Loans:
Loans		12,012,503			10,825,227			11,386,352			12,195,873			12,900,897
Allowance for credit losses on loans		(205,332	)		(202,508	)		(227,239	)		(235,116	)		(238,050	)
Net loans		11,807,171			10,622,719			11,159,113			11,960,757			12,662,847
Premises and equipment		483,469			463,924			429,587			427,540			441,692
Premises held for sale		-			-			6,090			13,613			15,008
Foreclosed assets and other real estate owned		6,032			11,759			15,239			11,168			18,393
Interest receivable		72,990			68,405			67,916			71,359			72,597
Bank owned life insurance		445,305			421,762			419,198			257,152			255,630
Goodwill		1,146,007			1,075,305			1,075,305			1,075,305			1,075,305
Other intangible assets		106,235			100,428			103,759			107,091			111,110
Other assets		325,793			304,707			282,449			315,732			289,332
Total assets	$	24,724,759		$	23,225,930		$	23,423,159		$	23,348,117		$	22,359,752
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	5,325,318		$	4,918,845		$	4,893,959		$	4,884,667		$	4,482,091
Interest bearing transaction accounts and savings deposits		11,588,770			10,697,451			10,569,602			10,279,997			9,672,608
Time deposits		2,452,460			2,455,774			2,841,052			3,024,724			2,832,327
Total deposits		19,366,548			18,072,070			18,304,613			18,189,388			16,987,026
Federal funds purchased and securities sold
under agreements to repurchase		185,403			217,276			187,215			323,053			299,111
Other borrowings		1,337,973			1,338,585			1,339,193			1,340,467			1,342,067
Subordinated notes and debentures		384,131			383,278			383,143			383,008			382,874
Other liabilities held for sale		-			-			-			-			154,620
Accrued interest and other liabilities		201,863			184,190			169,629			181,426			217,398
Total liabilities		21,475,918			20,195,399			20,383,793			20,417,342			19,383,096
Stockholders' equity:
Preferred stock		-			767			767			767			767
Common stock		1,127			1,066			1,084			1,083			1,081
Surplus		2,164,989			1,974,561			2,021,128			2,017,188			2,014,076
Undivided profits		1,093,270			1,065,566			1,004,314			948,913			901,006
Accumulated other comprehensive (loss) income:
Unrealized (depreciation) appreciation on AFS securities		(10,545	)		(11,429	)		12,073			(37,176	)		59,726
Total stockholders' equity		3,248,841			3,030,531			3,039,366			2,930,775			2,976,656
Total liabilities and stockholders' equity	$	24,724,759		$	23,225,930		$	23,423,159		$	23,348,117		$	22,359,752
Page 1

Simmons First National Corporation												SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31		Dec 31
(Unaudited)		2021			2021			2021			2021		2020
($ in thousands, except per share data)
INTEREST INCOME
Loans (including fees)	$	137,564		$	132,216		$	138,804		$	146,424	$	160,115
Interest bearing balances due from banks and federal funds sold		583			763			651			798		716
Investment securities		32,275			30,717			27,128			21,573		17,207
Mortgage loans held for sale		310			230			386			639		1,070
TOTAL INTEREST INCOME		170,732			163,926			166,969			169,434		179,108
INTEREST EXPENSE
Time deposits		3,705			4,747			6,061			7,091		7,835
Other deposits		4,390			4,369			4,721			6,088		6,536
Federal funds purchased and securities
sold under agreements to repurchase		72			70			192			245		284
Other borrowings		4,903			4,893			4,897			4,802		4,869
Subordinated notes and debentures		4,581			4,610			4,565			4,527		4,624
TOTAL INTEREST EXPENSE		17,651			18,689			20,436			22,753		24,148
NET INTEREST INCOME		153,081			145,237			146,533			146,681		154,960
Provision for credit losses		(1,308	)		(19,890	)		(12,951	)		1,445		6,943
NET INTEREST INCOME AFTER PROVISION
FOR CREDIT LOSSES		154,389			165,127			159,484			145,236		148,017
NON-INTEREST INCOME
Wealth management fees		8,042			7,877			7,892			7,361		7,233
Service charges on deposit accounts		11,909			11,557			10,050			9,715		10,799
Other service charges and fees		1,762			1,964			2,048			1,922		1,783
Mortgage lending income		5,043			5,818			4,490			6,447		2,993
Debit and credit card fees		7,460			7,102			7,073			6,610		6,415
Bank owned life insurance income		2,768			2,573			2,038			1,523		1,481
(Loss) gain on sale of securities, net		(348	)		5,248			5,127			5,471		16
Other income		9,965			6,411			8,397			10,500		11,041
TOTAL NON-INTEREST INCOME		46,601			48,550			47,115			49,549		41,761
NON-INTEREST EXPENSE
Salaries and employee benefits		63,832			61,902			60,261			60,340		55,762
Occupancy expense, net		11,033			9,361			9,103			9,300		9,182
Furniture and equipment expense		4,721			4,895			4,859			5,415		5,940
Other real estate and foreclosure expense		576			339			863			343		551
Deposit insurance		2,108			1,870			1,687			1,308		1,627
Merger-related costs		13,591			1,401			686			233		731
Other operating expenses		45,736			34,565			37,198			36,063		52,047
TOTAL NON-INTEREST EXPENSE		141,597			114,333			114,657			113,002		125,840
NET INCOME BEFORE INCOME TAXES		59,393			99,344			91,942			81,783		63,938
Provision for income taxes		11,155			18,770			17,018			14,363		10,970
NET INCOME		48,238			80,574			74,924			67,420		52,968
Preferred stock dividends		8			13			13			13		13
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	48,230		$	80,561		$	74,911		$	67,407	$	52,955
BASIC EARNINGS PER SHARE	$	0.42		$	0.75		$	0.69		$	0.62	$	0.49
DILUTED EARNINGS PER SHARE	$	0.42		$	0.74		$	0.69		$	0.62	$	0.49
Page 2

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Tier 1 capital
Stockholders' equity	$	3,248,841		$	3,030,531		$	3,039,366		$	2,930,775		$	2,976,656
CECL transition provision (1)		114,458			122,787			128,933			131,637			131,430
Disallowed intangible assets, net of deferred tax		(1,226,686	)		(1,152,688	)		(1,156,203	)		(1,159,720	)		(1,163,797	)
Unrealized loss (gain) on AFS securities		10,545			11,429			(12,073	)		37,176			(59,726	)
Total Tier 1 capital		2,147,158			2,012,059			2,000,023			1,939,868			1,884,563
Tier 2 capital
Trust preferred securities and subordinated debt		384,131			383,278			383,143			383,008			382,874
Qualifying allowance for loan losses and
reserve for unfunded commitments		71,853			60,700			79,138			87,251			89,546
Total Tier 2 capital		455,984			443,978			462,281			470,259			472,420
Total risk-based capital	$	2,603,142		$	2,456,037		$	2,462,304		$	2,410,127		$	2,356,983
Risk weighted assets	$	15,538,967		$	14,098,320		$	14,076,975		$	13,771,244		$	14,048,608
Adjusted average assets for leverage ratio	$	23,647,901		$	22,189,921		$	22,244,118		$	21,668,406		$	20,765,127
Ratios at end of quarter
Equity to assets		13.14	%		13.05	%		12.98	%		12.55	%		13.31	%
Tangible common equity to tangible assets (2)		8.51	%		8.41	%		8.36	%		7.88	%		8.45	%
Common equity Tier 1 ratio (CET1)		13.82	%		14.27	%		14.20	%		14.08	%		13.41	%
Tier 1 leverage ratio		9.08	%		9.07	%		8.99	%		8.95	%		9.08	%
Tier 1 risk-based capital ratio		13.82	%		14.27	%		14.21	%		14.09	%		13.41	%
Total risk-based capital ratio		16.75	%		17.42	%		17.49	%		17.50	%		16.78	%
(1) The Company has elected to use the CECL transition provision allowed for in the year of adopting ASC 326.
(2) Calculations of tangible common equity to tangible assets and the reconciliations to GAAP are included in the
schedules accompanying this release.
Page 3

Simmons First National Corporation									SFNC
Consolidated Investment Securities
For the Quarters Ended	Dec 31		Sep 30		Jun 30		Mar 31		Dec 31
(Unaudited)		2021		2021		2021		2021		2020
($ in thousands)
Investment Securities - End of Period
Held-to-Maturity
U.S. Government agencies	$	232,609	$	232,549	$	77,396	$	77,396	$	-
Mortgage-backed securities		70,342		57,930		60,649		47,988		22,354
State and political subdivisions		1,209,051		1,209,091		793,307		484,116		310,109
Other securities		17,219		17,227		-		-		568
Total held-to-maturity (net of credit losses)		1,529,221		1,516,797		931,352		609,500		333,031
Available-for-Sale
U.S. Treasury	$	300	$	300	$	600	$	600	$	-
U.S. Government agencies		364,641		354,382		554,937		487,679		477,237
Mortgage-backed securities		4,448,616		4,421,620		3,987,209		2,133,086		1,394,936
State and political subdivisions		1,819,658		1,575,208		1,557,497		1,571,910		1,470,723
Other securities		480,330		470,693		456,338		335,073		130,702
Total available-for-sale (net of credit losses)		7,113,545		6,822,203		6,556,581		4,528,348		3,473,598
Total investment securities (net of credit losses)	$	8,642,766	$	8,339,000	$	7,487,933	$	5,137,848	$	3,806,629
Fair value - HTM investment securities	$	1,517,378	$	1,487,916	$	935,596	$	597,694	$	341,925
Investment Securities - QTD Average
Taxable securities	$	5,790,429	$	5,475,932	$	4,265,545	$	2,471,291	$	1,757,234
Tax exempt securities		2,787,301		2,496,958		2,157,076		1,919,919		1,528,127
Total investment securities - QTD average	$	8,577,730	$	7,972,890	$	6,422,621	$	4,391,210	$	3,285,361
Page 4

Simmons First National Corporation									SFNC
Consolidated Loans
For the Quarters Ended	Dec 31		Sep 30		Jun 30		Mar 31		Dec 31
(Unaudited)		2021		2021		2021		2021		2020
($ in thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	187,052	$	175,884	$	177,634	$	175,458	$	188,845
Other consumer		168,318		182,492		181,712		172,965		202,379
Total consumer		355,370		358,376		359,346		348,423		391,224
Real Estate
Construction		1,327,210		1,229,740		1,428,165		1,451,841		1,596,255
Single-family residential		2,101,136		1,540,701		1,608,028		1,730,056		1,880,673
Other commercial real estate		5,738,904		5,308,902		5,332,655		5,638,010		5,746,863
Total real estate		9,167,250		8,079,343		8,368,848		8,819,907		9,223,791
Commercial
Commercial		1,992,043		1,821,905		2,074,729		2,444,700		2,574,386
Agricultural		168,717		216,735		193,462		155,921		175,905
Total commercial		2,160,760		2,038,640		2,268,191		2,600,621		2,750,291
Other		329,123		348,868		389,967		426,922		535,591
Total loans	$	12,012,503	$	10,825,227	$	11,386,352	$	12,195,873	$	12,900,897
Page 5

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Allowance for Credit Losses on Loans
Beginning balance, after adoption of ASC 326	$	202,508		$	227,239		$	235,116		$	238,050		$	248,251
Day 1 PCD allowance from acquisitions
Landmark (10/08/2021)		2,359
Triumph (10/08/2021)		11,092
Total Day 1 PCD allowance		13,451
Loans charged off
Credit cards		865			711			1,046			1,003			787
Other consumer		477			463			411			702			960
Real estate		2,624			5,941			439			1,687			10,415
Commercial		8,513			932			309			859			8,199
Total loans charged off		12,479			8,047			2,205			4,251			20,361
Recoveries of loans previously charged off
Credit cards		247			267			244			290			241
Other consumer		267			408			425			304			355
Real estate		916			2,068			1,523			403			431
Commercial		1,730			463			2,147			320			1,835
Total recoveries		3,160			3,206			4,339			1,317			2,862
Net loans charged off		9,319			4,841			(2,134	)		2,934			17,499
Provision for credit losses on loans		(1,308	)		(19,890	)		(10,011	)		-			7,298
Balance, end of quarter	$	205,332		$	202,508		$	227,239		$	235,116		$	238,050
Non-performing assets
Non-performing loans
Nonaccrual loans	$	68,204		$	59,054		$	80,282		$	114,856		$	122,879
Loans past due 90 days or more		349			334			653			635			578
Total non-performing loans		68,553			59,388			80,935			115,491			123,457
Other non-performing assets
Foreclosed assets and other real estate owned		6,032			11,759			15,239			11,168			18,393
Other non-performing assets		1,667			1,724			1,062			1,229			2,016
Total other non-performing assets		7,699			13,483			16,301			12,397			20,409
Total non-performing assets	$	76,252		$	72,871		$	97,236		$	127,888		$	143,866
Performing TDRs (troubled debt restructurings)	$	4,289		$	4,251		$	4,436		$	3,805		$	3,138
Ratios
Allowance for credit losses on loans to total loans		1.71	%		1.87	%		2.00	%		1.93	%		1.85	%
Allowance for credit losses to non-performing loans		300	%		341	%		281	%		204	%		193	%
Non-performing loans to total loans		0.57	%		0.55	%		0.71	%		0.95	%		0.96	%
Non-performing assets (including performing TDRs)
to total assets		0.33	%		0.33	%		0.43	%		0.56	%		0.66	%
Non-performing assets to total assets		0.31	%		0.31	%		0.42	%		0.55	%		0.64	%
Annualized net charge offs to total loans		0.31	%		0.17	%		-0.07	%		0.10	%		0.52	%
Annualized net credit card charge offs to
total credit card loans		1.29	%		0.96	%		1.78	%		1.58	%		1.15	%
Page 6

Simmons First National Corporation																			SFNC
Consolidated - Average Balance Sheet and Net Interest Income Analysis
For the Quarters Ended
(Unaudited)
	Three Months Ended Dec 2021							Three Months Ended Sep 2021							Three Months Ended Dec 2020
($ 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	$	1,484,752	$	583	0.16		%	$	1,866,530	$	763	0.16		%	$	2,651,938	$	716	0.11	%
Investment securities - taxable		5,790,429		17,186	1.18		%		5,475,932		17,076	1.24		%		1,757,234		7,720	1.75	%
Investment securities - non-taxable (FTE)		2,787,301		20,470	2.91		%		2,496,958		18,399	2.92		%		1,528,127		12,778	3.33	%
Mortgage loans held for sale		42,866		310	2.87		%		32,134		230	2.84		%		179,275		1,070	2.37	%
Loans - including fees (FTE)		11,924,444		137,762	4.58		%		11,030,438		132,399	4.76		%		13,457,077		160,306	4.74	%
Total interest earning assets (FTE)		22,029,792		176,311	3.18		%		20,901,992		168,867	3.21		%		19,573,651		182,590	3.71	%
Non-earning assets		2,668,230							2,353,549							2,278,443
Total assets	$	24,698,022						$	23,255,541						$	21,852,094
LIABILITIES AND STOCKHOLDERS' EQUITY
Interest bearing liabilities:
Interest bearing transaction and
savings accounts	$	11,413,325	$	4,390	0.15		%	$	10,629,142	$	4,369	0.16		%	$	9,389,570	$	6,536	0.28	%
Time deposits		2,607,011		3,705	0.56		%		2,645,896		4,747	0.71		%		2,823,166		7,835	1.10	%
Total interest bearing deposits		14,020,336		8,095	0.23		%		13,275,038		9,116	0.27		%		12,212,736		14,371	0.47	%
Federal funds purchased and securities
sold under agreement to repurchase		223,008		72	0.13		%		219,604		70	0.13		%		340,333		284	0.33	%
Other borrowings		1,340,825		4,903	1.45		%		1,338,866		4,893	1.45		%		1,342,403		4,869	1.44	%
Subordinated notes and debentures		383,489		4,581	4.74		%		383,213		4,610	4.77		%		382,808		4,624	4.81	%
Total interest bearing liabilities		15,967,658		17,651	0.44		%		15,216,721		18,689	0.49		%		14,278,280		24,148	0.67	%
Non-interest bearing liabilities:
Non-interest bearing deposits		5,288,933							4,803,171							4,413,168
Other liabilities		179,362							167,677							204,014
Total liabilities		21,435,953							20,187,569							18,895,462
Stockholders' equity		3,262,069							3,067,972							2,956,632
Total liabilities and stockholders' equity	$	24,698,022						$	23,255,541						$	21,852,094
Net interest income (FTE)			$	158,660						$	150,178						$	158,442
Net interest spread (FTE)					2.74		%					2.72		%					3.04	%
Net interest margin (FTE) - quarter-to-date					2.86		%					2.85		%					3.22	%
Net interest margin (FTE) - year-to-date					2.89		%					2.91		%					3.38	%
Page 7

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands, except share data)
QUARTER-TO-DATE
Financial Highlights - GAAP
Net Income	$	48,230		$	80,561		$	74,911		$	67,407		$	52,955
Diluted earnings per share		0.42			0.74			0.69			0.62			0.49
Return on average assets		0.77	%		1.37	%		1.29	%		1.20	%		0.96	%
Return on average common equity		5.87	%		10.42	%		10.08	%		9.20	%		7.13	%
Return on tangible common equity		9.98	%		17.43	%		17.25	%		15.85	%		12.48	%
Net interest margin (FTE)		2.86	%		2.85	%		2.89	%		2.99	%		3.22	%
FTE adjustment		5,579			4,941			4,548			4,163			3,482
Average diluted shares outstanding		114,491,119			108,359,890			108,822,175			108,655,293			108,888,264
Shares repurchased under plan		2,625,348			1,806,205			-			130,916			1,034,364
Average price of shares repurchased		29.69			28.48			-			23.53			19.36
Cash dividends declared per common share		0.18			0.18			0.18			0.18			0.17
Financial Highlights - Core (non-GAAP)
Core earnings (excludes non-core items) (1)	$	59,486		$	79,350		$	75,435		$	63,995		$	61,977
Core diluted earnings per share (1)		0.52			0.73			0.69			0.59			0.57
Accretable yield on acquired loans		5,758			4,122			5,619			6,630			8,999
Efficiency ratio (1)		59.48	%		58.10	%		56.75	%		57.25	%		54.75	%
Core return on average assets (1)		0.96	%		1.35	%		1.30	%		1.14	%		1.13	%
Core return on average common equity (1)		7.24	%		10.26	%		10.15	%		8.73	%		8.34	%
Core return on tangible common equity (1)		12.19	%		17.18	%		17.36	%		15.08	%		14.51	%
YEAR-TO-DATE
Financial Highlights - GAAP
Net Income	$	271,109		$	222,879		$	142,318		$	67,407		$	254,852
Diluted earnings per share		2.46			2.05			1.31			0.62			2.31
Return on average assets		1.15	%		1.29	%		1.25	%		1.20	%		1.18	%
Return on average common equity		8.83	%		9.91	%		9.64	%		9.20	%		8.72	%
Return on tangible common equity		14.99	%		16.86	%		16.56	%		15.85	%		15.25	%
Net interest margin (FTE)		2.89	%		2.91	%		2.94	%		2.99	%		3.38	%
FTE adjustment		19,231			13,652			8,711			4,163			11,001
Average diluted shares outstanding		110,198,094			108,667,928			108,746,439			108,655,293			110,173,661
Cash dividends declared per common share		0.72			0.54			0.36			0.18			0.68
Financial Highlights - Core (non-GAAP)
Core earnings (excludes non-core items) (1)	$	278,266		$	218,780		$	139,430		$	63,995		$	264,300
Core diluted earnings per share (1)		2.53			2.01			1.28			0.59			2.40
Accretable yield on acquired loans		22,129			16,371			12,249			6,630			41,507
Efficiency ratio (1)		57.92	%		57.37	%		57.00	%		57.25	%		54.18	%
Core return on average assets (1)		1.18	%		1.27	%		1.22	%		1.14	%		1.22	%
Core return on average common equity (1)		9.06	%		9.73	%		9.45	%		8.73	%		9.05	%
Core return on tangible common equity (1)		15.38	%		16.56	%		16.23	%		15.08	%		15.79	%
END OF PERIOD
Book value per share	$	28.82		$	28.42		$	28.03		$	27.04		$	27.53
Tangible book value per share		17.71			17.39			17.16			16.13			16.56
Shares outstanding		112,715,444			106,603,231			108,386,669			108,345,732			108,077,662
Full-time equivalent employees		2,877			2,740			2,783			2,817			2,827
Total number of financial centers		199			185			198			198			204
(1) Core earnings exclude non-core items, which is a non-GAAP measurement. Reconciliations to GAAP are included in the
schedules accompanying this release.
Page 8

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Core Earnings - Quarter-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands, except per share data)
QUARTER-TO-DATE
Net Income	$	48,230		$	80,561		$	74,911		$	67,407		$	52,955
Non-core items
Gain on sale of branches		-			-			(16	)		(5,300	)		(275	)
Merger-related costs		13,591			1,401			686			233			731
Early retirement program		-			-			-			-			62
Branch right-sizing (net)		1,648			(3,041	)		39			448			11,696
Tax effect (1)		(3,983	)		429			(185	)		1,207			(3,192	)
Net non-core items		11,256			(1,211	)		524			(3,412	)		9,022
Core earnings (non-GAAP)	$	59,486		$	79,350		$	75,435		$	63,995		$	61,977
Diluted earnings per share	$	0.42		$	0.74		$	0.69		$	0.62		$	0.49
Non-core items
Gain on sale of branches		-			-			-			(0.05	)		-
Merger-related costs		0.12			0.01			0.01			-			-
Early retirement program		-			-			-			-			-
Branch right-sizing (net)		0.01			(0.03	)		-			0.01			0.11
Tax effect (1)		(0.03	)		0.01			(0.01	)		0.01			(0.03	)
Net non-core items		0.10			(0.01	)		-			(0.03	)		0.08
Core diluted earnings per share (non-GAAP)	$	0.52		$	0.73		$	0.69		$	0.59		$	0.57
(1) Effective tax rate of 26.135%.
Reconciliation of Selected Non-Core Non-Interest Income and Expense Items (non-GAAP)
QUARTER-TO-DATE
Other income	$	9,965		$	6,411		$	8,397		$	10,500		$	11,041
Non-core items (1)		(2	)		239			(445	)		(5,477	)		(275	)
Core other income (non-GAAP)	$	9,963		$	6,650		$	7,952		$	5,023		$	10,766
Non-interest expense	$	141,597		$	114,333		$	114,657		$	113,002		$	125,840
Non-core items (1)		(15,241	)		1,879			(1,154	)		(858	)		(12,489	)
Core non-interest expense (non-GAAP)	$	126,356		$	116,212		$	113,503		$	112,144		$	113,351
Salaries and employee benefits	$	63,832		$	61,902		$	60,261		$	60,340		$	55,762
Non-core items (1)		-			(66	)		-			-			(144	)
Core salaries and employee benefits (non-GAAP)	$	63,832		$	61,836		$	60,261		$	60,340		$	55,618
Merger related costs	$	13,591		$	1,401		$	686		$	233		$	731
Non-core items (1)		(13,591	)		(1,401	)		(686	)		(233	)		(731	)
Core merger related costs (non-GAAP)	$	-		$	-		$	-		$	-		$	-
Other operating expenses	$	45,736		$	34,565		$	37,198		$	36,063		$	52,047
Non-core items (1)		96			3,759			(89	)		(208	)		(10,270	)
Core other operating expenses (non-GAAP)	$	45,832		$	38,324		$	37,109		$	35,855		$	41,777
(1) Non-core items include gain on sale of branches, merger related costs, early retirement program expenses and
branch right-sizing costs.
Page 9

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Core Earnings - Year-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands, except per share data)
YEAR-TO-DATE
Net Income	$	271,109		$	222,879		$	142,318		$	67,407		$	254,852
Non-core items
Gain on sale of branches		(5,316	)		(5,316	)		(5,316	)		(5,300	)		(8,368	)
Merger-related costs		15,911			2,320			919			233			4,531
Early retirement program		-			-			-			-			2,901
Branch right-sizing (net)		(906	)		(2,554	)		487			448			13,727
Tax effect (1)		(2,532	)		1,451			1,022			1,207			(3,343	)
Net non-core items		7,157			(4,099	)		(2,888	)		(3,412	)		9,448
Core earnings (non-GAAP)	$	278,266		$	218,780		$	139,430		$	63,995		$	264,300
Diluted earnings per share	$	2.46		$	2.05		$	1.31		$	0.62		$	2.31
Non-core items
Gain on sale of branches		(0.05	)		(0.05	)		(0.05	)		(0.05	)		(0.07	)
Merger-related costs		0.15			0.02			0.01			-			0.04
Early retirement program		-			-			-			-			0.03
Branch right-sizing (net)		(0.01	)		(0.02	)		-			0.01			0.12
Tax effect (1)		(0.02	)		0.01			0.01			0.01			(0.03	)
Net non-core items		0.07			(0.04	)		(0.03	)		(0.03	)		0.09
Core diluted earnings per share (non-GAAP)	$	2.53		$	2.01		$	1.28		$	0.59		$	2.40
(1) Effective tax rate of 26.135%.
Reconciliation of Selected Non-Core Non-Interest Income and Expense Items (non-GAAP)
YEAR-TO-DATE
Other income	$	35,273		$	25,308		$	18,897		$	10,500		$	39,876
Non-core items (1)		(5,685	)		(5,683	)		(5,922	)		(5,477	)		(8,738	)
Core other income (non-GAAP)	$	29,588		$	19,625		$	12,975		$	5,023		$	31,138
Non-interest expense	$	483,589		$	341,992		$	227,659		$	113,002		$	484,736
Non-core items (1)		(15,374	)		(133	)		(2,012	)		(858	)		(21,529	)
Core non-interest expense (non-GAAP)	$	468,215		$	341,859		$	225,647		$	112,144		$	463,207
Salaries and employee benefits	$	246,335		$	182,503		$	120,601		$	60,340		$	242,474
Non-core items (1)		(66	)		(66	)		-			-			(3,085	)
Core salaries and employee benefits (non-GAAP)	$	246,269		$	182,437		$	120,601		$	60,340		$	239,389
Merger related costs	$	15,911		$	2,320		$	919		$	233		$	4,531
Non-core items (1)		(15,911	)		(2,320	)		(919	)		(233	)		(4,531	)
Core merger related costs (non-GAAP)	$	-		$	-		$	-		$	-		$	-
Other operating expenses	$	153,562		$	107,826		$	73,261		$	36,063		$	165,201
Non-core items (1)		3,558			3,462			(297	)		(208	)		(12,155	)
Core other operating expenses (non-GAAP)	$	157,120		$	111,288		$	72,964		$	35,855		$	153,046
(1) Non-core items include gain on sale of branches, merger related costs, early retirement program expenses and
branch right-sizing costs.
Page 10

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - End of Period
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ 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	$	3,248,841		$	3,029,764		$	3,038,599		$	2,930,008		$	2,975,889
Intangible assets:
Goodwill		(1,146,007	)		(1,075,305	)		(1,075,305	)		(1,075,305	)		(1,075,305	)
Other intangible assets		(106,235	)		(100,428	)		(103,759	)		(107,091	)		(111,110	)
Total intangibles		(1,252,242	)		(1,175,733	)		(1,179,064	)		(1,182,396	)		(1,186,415	)
Tangible common stockholders' equity	$	1,996,599		$	1,854,031		$	1,859,535		$	1,747,612		$	1,789,474
Total assets	$	24,724,759		$	23,225,930		$	23,423,159		$	23,348,117		$	22,359,752
Intangible assets:
Goodwill		(1,146,007	)		(1,075,305	)		(1,075,305	)		(1,075,305	)		(1,075,305	)
Other intangible assets		(106,235	)		(100,428	)		(103,759	)		(107,091	)		(111,110	)
Total intangibles		(1,252,242	)		(1,175,733	)		(1,179,064	)		(1,182,396	)		(1,186,415	)
Tangible assets	$	23,472,517		$	22,050,197		$	22,244,095		$	22,165,721		$	21,173,337
Paycheck protection program ("PPP") loans		(116,659	)		(212,087	)		(441,353	)		(797,629	)		(904,673	)
Total assets excluding PPP loans	$	24,608,100		$	23,013,843		$	22,981,806		$	22,550,488		$	21,455,079
Tangible assets excluding PPP loans	$	23,355,858		$	21,838,110		$	21,802,742		$	21,368,092		$	20,268,664
Ratio of common equity to assets		13.14	%		13.04	%		12.97	%		12.55	%		13.31	%
Ratio of common equity to assets excluding PPP loans		13.20	%		13.16	%		13.22	%		12.99	%		13.87	%
Ratio of tangible common equity to tangible assets		8.51	%		8.41	%		8.36	%		7.88	%		8.45	%
Ratio of tangible common equity to tangible assets excluding PPP loans		8.55	%		8.49	%		8.53	%		8.18	%		8.83	%
Calculation of Tangible Book Value per Share
Total common stockholders' equity	$	3,248,841		$	3,029,764		$	3,038,599		$	2,930,008		$	2,975,889
Intangible assets:
Goodwill		(1,146,007	)		(1,075,305	)		(1,075,305	)		(1,075,305	)		(1,075,305	)
Other intangible assets		(106,235	)		(100,428	)		(103,759	)		(107,091	)		(111,110	)
Total intangibles		(1,252,242	)		(1,175,733	)		(1,179,064	)		(1,182,396	)		(1,186,415	)
Tangible common stockholders' equity	$	1,996,599		$	1,854,031		$	1,859,535		$	1,747,612		$	1,789,474
Shares of common stock outstanding		112,715,444			106,603,231			108,386,669			108,345,732			108,077,662
Book value per common share	$	28.82		$	28.42		$	28.03		$	27.04		$	27.53
Tangible book value per common share	$	17.71		$	17.39		$	17.16		$	16.13		$	16.56
Page 11

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Calculation of Core Return on Average Assets
Net income	$	48,230		$	80,561		$	74,911		$	67,407		$	52,955
Net non-core items, net of taxes, adjustment		11,256			(1,211	)		524			(3,412	)		9,022
Core earnings	$	59,486		$	79,350		$	75,435		$	63,995		$	61,977
Average total assets	$	24,698,022		$	23,255,541		$	23,257,921		$	22,738,821		$	21,852,094
Return on average assets		0.77	%		1.37	%		1.29	%		1.20	%		0.96	%
Core return on average assets		0.96	%		1.35	%		1.30	%		1.14	%		1.13	%
Calculation of Return on Tangible Common Equity
Net income	$	48,230		$	80,561		$	74,911		$	67,407		$	52,955
Amortization of intangibles, net of taxes		2,575			2,460			2,462			2,470			2,475
Total income available to common stockholders	$	50,805		$	83,021		$	77,373		$	69,877		$	55,430
Net non-core items, net of taxes		11,256			(1,211	)		524			(3,412	)		9,022
Core earnings		59,486			79,350			75,435			63,995			61,977
Amortization of intangibles, net of taxes		2,575			2,460			2,462			2,470			2,475
Total core income available to common stockholders	$	62,061		$	81,810		$	77,897		$	66,465		$	64,452
Average common stockholders' equity	$	3,261,627		$	3,067,205		$	2,980,609		$	2,972,689		$	2,955,865
Average intangible assets:
Goodwill		(1,137,441	)		(1,075,305	)		(1,075,305	)		(1,075,305	)		(1,075,305	)
Other intangibles		(105,155	)		(102,576	)		(105,785	)		(109,850	)		(113,098	)
Total average intangibles		(1,242,596	)		(1,177,881	)		(1,181,090	)		(1,185,155	)		(1,188,403	)
Average tangible common stockholders' equity	$	2,019,031		$	1,889,324		$	1,799,519		$	1,787,534		$	1,767,462
Return on average common equity		5.87	%		10.42	%		10.08	%		9.20	%		7.13	%
Return on tangible common equity		9.98	%		17.43	%		17.25	%		15.85	%		12.48	%
Core return on average common equity		7.24	%		10.26	%		10.15	%		8.73	%		8.34	%
Core return on tangible common equity		12.19	%		17.18	%		17.36	%		15.08	%		14.51	%
Calculation of Efficiency Ratio (1)
Non-interest expense	$	141,597		$	114,333		$	114,657		$	113,002		$	125,840
Non-core non-interest expense adjustment		(15,241	)		1,879			(1,154	)		(858	)		(12,489	)
Other real estate and foreclosure expense adjustment		(576	)		(339	)		(863	)		(343	)		(545	)
Amortization of intangibles adjustment		(3,486	)		(3,331	)		(3,333	)		(3,344	)		(3,351	)
Efficiency ratio numerator	$	122,294		$	112,542		$	109,307		$	108,457		$	109,455
Net-interest income	$	153,081		$	145,237		$	146,533		$	146,681		$	154,960
Non-interest income		46,601			48,550			47,115			49,549			41,761
Non-core non-interest income adjustment		(2	)		239			(445	)		(5,477	)		(275	)
Fully tax-equivalent adjustment (effective tax rate of 26.135%)		5,579			4,941			4,548			4,163			3,482
Loss (gain) on sale of securities		348			(5,248	)		(5,127	)		(5,471	)		(16	)
Efficiency ratio denominator	$	205,607		$	193,719		$	192,624		$	189,445		$	199,912
Efficiency ratio (1)		59.48	%		58.10	%		56.75	%		57.25	%		54.75	%
(1) Efficiency ratio is core non-interest expense before foreclosed property expense and amortization of intangibles as a percent of net interest income (fully
taxable equivalent) and non-interest revenues, excluding gains and losses from securities transactions and non-core items.
Page 12

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Quarter-to-Date (continued)
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Calculation of Adjusted Pre-Tax, Pre-Provision (PTPP) Earnings
Net income available to common stockholders	$	48,230		$	80,561		$	74,911		$	67,407		$	52,955
Provision for income taxes		11,155			18,770			17,018			14,363			10,970
Provision for credit losses (including provision for unfunded commitments)		(1,308	)		(19,890	)		(12,951	)		1,445			6,943
Loss (gain) on sale of securities		348			(5,248	)		(5,127	)		(5,471	)		(16	)
Net pre-tax non-core items		15,239			(1,640	)		709			(4,619	)		12,214
Adjusted Pre-tax, pre-provision (PTPP) earnings	$	73,664		$	72,553		$	74,560		$	73,125		$	83,066
Page 13

Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Calculation of Core Return on Average Assets
Net income	$	271,109		$	222,879		$	142,318		$	67,407		$	254,852
Net non-core items, net of taxes, adjustment		7,157			(4,099	)		(2,888	)		(3,412	)		9,448
Core earnings	$	278,266		$	218,780		$	139,430		$	63,995		$	264,300
Average total assets	$	23,492,308		$	23,085,987		$	22,999,805		$	22,738,821		$	21,590,745
Return on average assets		1.15	%		1.29	%		1.25	%		1.20	%		1.18	%
Core return on average assets		1.18	%		1.27	%		1.22	%		1.14	%		1.22	%
Calculation of Return on Tangible Common Equity
Net income	$	271,109		$	222,879		$	142,318		$	67,407		$	254,852
Amortization of intangibles, net of taxes		9,967			7,392			4,932			2,470			9,968
Total income available to common stockholders	$	281,076		$	230,271		$	147,250		$	69,877		$	264,820
Net non-core items, net of taxes		7,157			(4,099	)		(2,888	)		(3,412	)		9,448
Core earnings		278,266			218,780			139,430			63,995			264,300
Amortization of intangibles, net of taxes		9,967			7,392			4,932			2,470			9,968
Total core income available to common stockholders	$	288,233		$	226,172		$	144,362		$	66,465		$	274,268
Average common stockholders' equity	$	3,071,313		$	3,007,181		$	2,976,671		$	2,972,689		$	2,921,039
Average intangible assets:
Goodwill		(1,090,967	)		(1,075,305	)		(1,075,305	)		(1,075,305	)		(1,065,190	)
Other intangibles		(105,820	)		(106,043	)		(107,806	)		(109,850	)		(118,812	)
Total average intangibles		(1,196,787	)		(1,181,348	)		(1,183,111	)		(1,185,155	)		(1,184,002	)
Average tangible common stockholders' equity	$	1,874,526		$	1,825,833		$	1,793,560		$	1,787,534		$	1,737,037
Return on average common equity		8.83	%		9.91	%		9.64	%		9.20	%		8.72	%
Return on tangible common equity		14.99	%		16.86	%		16.56	%		15.85	%		15.25	%
Core return on average common equity		9.06	%		9.73	%		9.45	%		8.73	%		9.05	%
Core return on tangible common equity		15.38	%		16.56	%		16.23	%		15.08	%		15.79	%
Calculation of Efficiency Ratio (1)
Non-interest expense	$	483,589		$	341,992		$	227,659		$	113,002		$	484,736
Non-core non-interest expense adjustment		(15,374	)		(133	)		(2,012	)		(858	)		(21,529	)
Other real estate and foreclosure expense adjustment		(2,121	)		(1,545	)		(1,206	)		(343	)		(1,706	)
Amortization of intangibles adjustment		(13,494	)		(10,008	)		(6,677	)		(3,344	)		(13,495	)
Efficiency ratio numerator	$	452,600		$	330,306		$	217,764		$	108,457		$	448,006
Net-interest income	$	591,532		$	438,451		$	293,214		$	146,681		$	639,734
Non-interest income		191,815			145,214			96,664			49,549			239,769
Non-core non-interest income adjustment		(5,685	)		(5,683	)		(5,922	)		(5,477	)		(8,738	)
Fully tax-equivalent adjustment (effective tax rate of 26.135%)		19,231			13,652			8,711			4,163			11,001
Gain on sale of securities		(15,498	)		(15,846	)		(10,598	)		(5,471	)		(54,806	)
Efficiency ratio denominator	$	781,395		$	575,788		$	382,069		$	189,445		$	826,960
Efficiency ratio (1)		57.92	%		57.37	%		57.00	%		57.25	%		54.18	%
(1) Efficiency ratio is core non-interest expense before foreclosed property expense and amortization of intangibles as a percent of net interest income (fully
taxable equivalent) and non-interest revenues, excluding gains and losses from securities transactions and non-core items.
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Simmons First National Corporation													SFNC
Reconciliation Of Non-GAAP Financial Measures - Year-to-Date (continued)
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(Unaudited)		2021			2021			2021			2021			2020
($ in thousands)
Calculation of Adjusted Pre-Tax, Pre-Provision (PTPP) Earnings
Net income available to common stockholders	$	271,109		$	222,879		$	142,318		$	67,407		$	254,852
Provision for income taxes		61,306			50,151			31,381			14,363			64,890
Provision for credit losses (including provision for unfunded commitments)		(32,704	)		(31,396	)		(11,506	)		1,445			74,973
Gain on sale of securities		(15,498	)		(15,846	)		(10,598	)		(5,471	)		(54,806	)
Net pre-tax non-core items		9,689			(5,550	)		(3,910	)		(4,619	)		12,791
Adjusted Pre-tax, pre-provision (PTPP) earnings	$	293,902		$	220,238		$	147,685		$	73,125		$	352,700
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FAQ

What are the earnings results for SFNC in 2021?

Simmons First National Corporation reported a record net income of $271.2 million, translating to a diluted EPS of $2.46 for the year 2021.

How much did SFNC increase its dividend in 2022?

Simmons First National Corporation approved a 6% increase in its quarterly cash dividend to $0.19 per share.

What is the status of SFNC's share repurchase program?

Simmons First National Corporation authorized a new $175 million share repurchase program after substantially exhausting its previous program.

What was the loan growth for SFNC in Q4 2021?

Newly funded loans topped $2.6 billion in Q4 2021, with a 31% increase in unfunded commitments.

What are the total deposits for SFNC at year-end 2021?

Total deposits for Simmons First National Corporation were $19.4 billion at year-end 2021, a $2.4 billion increase from the previous year.