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Item 1. Financial Statements

2026-08-05 compared with 2026-05-06 · 258 added, 147 removed, 1255 unchanged (24% of the section changed)

2 unchanged sentences

Consolidated Balance Sheets

March 31, 2026 and December 31, 2025

March 31, December 31,

June 30, 2026 and December 31, 2025

June 30, December 31,

(In thousands, except share data) 2026 2025

3 unchanged sentences

Interest bearing balances due from banks - time 100 100

Available-for-sale, (amortized cost of $ 3,547,987 and $ 3,642,809 at March 31, 2026 and December 31, 2025, respectively)

Available-for-sale, (amortized cost of $ 3,439,526 and $ 3,642,809 at June 30, 2026 and December 31, 2025, respectively)

3,077,181 3,266,221

24 unchanged sentences

Common stock, Class A, $ 0.01 par value;

350,000,000 shares authorized at March 31, 2026 and December 31, 2025;

145,058,545 and 144,762,817 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

350,000,000 shares authorized at June 30, 2026 and December 31, 2025;

144,442,482 and 144,762,817 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively

Surplus 2,837,845 2,846,581

6 unchanged sentences

Consolidated Statements of Income

Three Months Ended March 31, 2026 and 2025

Three and Six Months Ended June 30, 2026 and 2025

Three Months Ended

June 30, Six Months Ended

(In thousands, except per share data) 2026 2025 2026 2025

(Unaudited) (Unaudited)

INTEREST INCOME

39 unchanged sentences

Consolidated Statements of Comprehensive Income (Loss)

Three Months Ended March 31, 2026 and 2025

Three and Six Months Ended June 30, 2026 and 2025

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

(Unaudited) (Unaudited)

NET INCOME $ 66,691 $ 54,773 $ 135,235 $ 87,161

OTHER COMPREHENSIVE INCOME (LOSS)

Unrealized holding (losses) gains arising during the period on available-for-sale securities ( 21,781 ) 4,278

Realized gains on derivative instruments 6,967 19,186

Unrealized holding gains (losses) arising during the period on available-for-sale securities 31,973 ( 9,297 ) 10,192 ( 5,019 )

Net change in hedging instruments 5,400 14,212 12,368 33,399

Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity — ( 5,653 ) — ( 11,355 )

6 unchanged sentences

Consolidated Statements of Cash Flows

Three Months Ended March 31, 2026 and 2025

(In thousands) March 31, 2026 March 31, 2025

Six Months Ended June 30, 2026 and 2025

(In thousands) June 30, 2026 June 30, 2025

(Unaudited) (Unaudited)

7 unchanged sentences

Stock-based compensation expense 6,990 8,612

Loss on sale of closed branches — 17

Gain on sale of foreclosed assets and other real estate owned ( 23 ) ( 87 )

Loss (gain) on sale of closed branches 3,193 ( 245 )

Loss (gain) on sale of foreclosed assets and other real estate owned 54 ( 214 )

Gain on sale of mortgage loans held for sale ( 4,407 ) ( 3,856 )

21 unchanged sentences

Purchases of bank owned life insurance — ( 15,697 )

Surrender of bank owned life insurance — 19,403

Proceeds from bank owned life insurance death benefits 3,966 607

Net cash used in investing activities ( 321,924 ) ( 9,007 )

Net cash (used in) provided by investing activities ( 437,198 ) 79,677

FINANCING ACTIVITIES

6 unchanged sentences

Shares issued under employee stock purchase plan 838 836

Repurchases of common stock ( 14,245 ) —

Net cash provided by (used in) financing activities 129,909 ( 233,031 )

5 unchanged sentences

Consolidated Statements of Stockholders’ Equity

Three Months Ended March 31, 2026 and 2025

Three Months Ended June 30, 2026 and 2025

(In thousands, except share data) Common

3 unchanged sentences

Profits Total

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Balance, March 31, 2026 (Unaudited) $ 1,451 $ 2,848,952 $ ( 314,365 ) $ 901,696 $ 3,437,734

Comprehensive income — — 19,628 66,691 86,319

Stock-based compensation plans, net – 46,019 shares

— 3,131 — — 3,131

Stock repurchases – 662,082 shares

( 7 ) ( 14,238 ) — — ( 14,245 )

Dividends on common stock – $ 0.2150 per share

— — — ( 31,080 ) ( 31,080 )

Balance, June 30, 2026 (Unaudited) $ 1,444 $ 2,837,845 $ ( 294,737 ) $ 937,307 $ 3,481,859

Three Months Ended June 30, 2025

Balance, March 31, 2025 (Unaudited) $ 1,259 $ 2,515,372 $ ( 367,710 ) $ 1,382,564 $ 3,531,485

Comprehensive (loss) income — — ( 13,190 ) 54,773 41,583

Stock-based compensation plans, net – 69,426 shares

1 2,914 — — 2,915

Dividends on common stock – $ 0.2125 per share

— — — ( 26,773 ) ( 26,773 )

Balance, June 30, 2025 (Unaudited) $ 1,260 $ 2,518,286 $ ( 380,900 ) $ 1,410,564 $ 3,549,210

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Stockholders’ Equity

Six Months Ended June 30, 2026 and 2025

(In thousands, except share data) Common

Stock Surplus Accumulated

Comprehensive

Income (Loss) Undivided

Profits Total

Six Months Ended June 30, 2026

Balance, December 31, 2025 $ 1,448 $ 2,846,581 $ ( 293,130 ) $ 864,341 $ 3,419,240

4 unchanged sentences

3 4,664 — — 4,667

Stock repurchases - 662,082 shares

( 7 ) ( 14,238 ) — — ( 14,245 )

Dividends on common stock – $ 0.4300 per share

— — — ( 62,269 ) ( 62,269 )

Balance, March 31, 2026 (Unaudited) $ 1,451 $ 2,848,952 $ ( 314,365 ) $ 901,696 $ 3,437,734

Three Months Ended March 31, 2025

Balance, June 30, 2026 (Unaudited) $ 1,444 $ 2,837,845 $ ( 294,737 ) $ 937,307 $ 3,481,859

Six Months Ended June 30, 2025

Balance, December 31, 2024 $ 1,257 $ 2,511,590 $ ( 360,910 ) $ 1,376,935 $ 3,528,872

6 unchanged sentences

— — — ( 53,532 ) ( 53,532 )

Balance, March 31, 2025 (Unaudited) $ 1,259 $ 2,515,372 $ ( 367,710 ) $ 1,382,564 $ 3,531,485

Balance, June 30, 2025 (Unaudited) $ 1,260 $ 2,518,286 $ ( 380,900 ) $ 1,410,564 $ 3,549,210

See Condensed Notes to Consolidated Financial Statements.

8 unchanged sentences

checking, savings and time deposits;

and specialized products and services (such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and Small Business Administration (“SBA”) lending) from approximately 221 financial centers as of March 31, 2026, located throughout market areas in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

and specialized products and services (such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and Small Business Administration (“SBA”) lending) from approximately 220 financial centers as of June 30, 2026, located throughout market areas in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

Basis of Presentation

31 unchanged sentences

ASU 2025-08 will be effective for the Company, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted.

The adoption of ASU 2025-08 is not expected to have a material impact on the Company’s financial position or disclosures.

The adoption of ASU 2025-08 is not expected to have a material impact on the Company’s operations, financial position or disclosures.

Disaggregation of Income Statement Expenses - In November 2024, the FASB issued ASU No.

6 unchanged sentences

ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted.

The Company is currently evaluating the impact ASU 2024-03 will have on its results of operations, financial position or disclosures.

The adoption of ASU 2024-03 is not expected to have a material impact on the Company’s operations, financial position or disclosures.

There have been no other significant changes to the Company’s accounting policies disclosed in Note 1, Summary of Significant Accounting Policies, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

20 unchanged sentences

During the balance sheet repositioning that occurred during 2025, the remaining securities were transferred out of the HTM portfolio to the AFS portfolio at fair value and either subsequently sold or maintained within the AFS portfolio.

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of March 31, 2026 or December 31, 2025.

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of June 30, 2026 or December 31, 2025.

The amortized cost, fair value and allowance for credit losses of investment securities that are classified as AFS are as follows:

5 unchanged sentences

Available-for-sale

March 31, 2026

June 30, 2026

Government agencies $ 45,008 $ — $ 4 $ ( 587 ) $ 44,425

9 unchanged sentences

Total AFS $ 3,642,809 $ — $ 6,329 $ ( 382,917 ) $ 3,266,221

As of March 31, 2026, AFS MBS consisted of $ 575.7 million and $ 1.55 billion of commercial MBS and residential MBS, respectively.

As of June 30, 2026, AFS MBS consisted of $ 562.5 million and $ 1.50 billion of commercial MBS and residential MBS, respectively.

As of December 31, 2025, AFS MBS consisted of $ 597.4 million and $ 1.60 billion of commercial MBS and residential MBS, respectively.

Accrued interest receivable on AFS securities at March 31, 2026 was $ 20.8 million, and is included in interest receivable on the consolidated balance sheet.

Accrued interest receivable on AFS securities at June 30, 2026 was $ 21.6 million, and is included in interest receivable on the consolidated balance sheet.

The Company has made the election to exclude all accrued interest receivable from securities from the estimate of credit losses.

The following table summarizes the Company’s AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

The following table summarizes the Company’s AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

Less Than 12 Months 12 Months or More Total

3 unchanged sentences

Available-for-sale

March 31, 2026

June 30, 2026

Government agencies $ — $ — $ 43,291 $ ( 587 ) $ 43,291 $ ( 587 )

9 unchanged sentences

Total AFS $ 23,309 $ ( 1,060 ) $ 2,636,931 $ ( 381,857 ) $ 2,660,240 $ ( 382,917 )

As of March 31, 2026, the Company’s investment portfolio included $ 3.15 billion of AFS securities, of which $ 2.60 billion, or 82.6 %, were in an unrealized loss position that were not deemed to have credit losses.

As of June 30, 2026, the Company’s investment portfolio included $ 3.08 billion of AFS securities, of which $ 2.75 billion, or 89.3 %, were in an unrealized loss position that were not deemed to have credit losses.

A portion of the unrealized losses were related to the Company’s MBS, which are issued and guaranteed by U.S.

13 unchanged sentences

(i) issuer bond ratings, (ii) issuer geography, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) probability-weighted multiple scenario forecasts, and (v) the issuers’ size.

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of March 31, 2026.

Activity in the allowance for credit losses by investment security type for the three months ended March 31, 2025 on the Company’s HTM securities portfolio was as follows:

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of June 30, 2026.

Activity in the allowance for credit losses by investment security type for the three and six months ended June 30, 2025 on the Company’s HTM securities portfolio was as follows:

(In thousands) State and Political Subdivisions Other

Securities Total

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Held-to-maturity

Beginning balance, April 1, 2025 $ 171 $ 3,043 $ 3,214

Provision for credit loss expense — — —

Net increase (decrease) in allowance on previously impaired securities 31 ( 31 ) —

Ending balance, June 30, 2025 $ 202 $ 3,012 $ 3,214

Six Months Ended June 30, 2025

Held-to-maturity

Beginning balance, January 1, 2025 $ 196 $ 3,018 $ 3,214

Provision for credit loss expense — — —

Net (decrease) increase in allowance on previously impaired securities ( 25 ) 25 —

Ending balance, March 31, 2025 $ 171 $ 3,043 $ 3,214

Based upon the Company’s analysis of the underlying risk characteristics of its AFS portfolio, including credit ratings and other qualitative factors, as previously discussed, there was no provision for credit losses related to the Company’s AFS portfolio recorded for the three month periods ended March 31, 2026 or 2025.

Income earned on securities for the three months ended March 31, 2026 and 2025, is as follows:

Net increase (decrease) in allowance on previously impaired securities 6 ( 6 ) —

Ending balance, June 30, 2025 $ 202 $ 3,012 $ 3,214

Income earned on securities for the three and six months ended June 30, 2026 and 2025, is as follows:

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

4 unchanged sentences

Total $ 31,013 $ 46,898 $ 62,895 $ 94,155

The amortized cost and estimated fair value by maturity of AFS securities as of March 31, 2026 are shown in the following table.

The amortized cost and estimated fair value by maturity of AFS securities as of June 30, 2026 are shown in the following table.

Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options.

9 unchanged sentences

Total $ 3,439,526 $ 3,077,181

The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $ 1.85 billion at March 31, 2026 and $ 2.04 billion at December 31, 2025.

There were no gross realized gains and no gross realized losses from the call or sale of securities during the three months ended March 31, 2026 and 2025, as they were recognized at book value of the security.

The Company has entered into various hedging transactions to mitigate the impact of changing interest rates on the fair value of AFS securities.

The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $ 1.83 billion at June 30, 2026 and $ 2.04 billion at December 31, 2025.

There were no gross realized gains and no gross realized losses from the call or sale of securities during the three and six months ended June 30, 2026 and 2025, as they were recognized at book value of the security.

The Company has entered into various hedging transactions to help mitigate the impact of changing interest rates on the fair value of AFS securities.

See Note 22, Derivative Instruments, for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities.

LOANS AND ALLOWANCE FOR CREDIT LOSSES

At March 31, 2026, the Company’s loan portfolio was $ 17.93 billion, compared to $ 17.49 billion at December 31, 2025.

At June 30, 2026, the Company’s loan portfolio was $ 18.06 billion, compared to $ 17.49 billion at December 31, 2025.

The various categories of loans are summarized as follows:

March 31, December 31,

June 30, December 31,

(In thousands) 2026 2025

12 unchanged sentences

The above table presents total loans at amortized cost.

The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $ 2.4 million and $ 3.3 million at March 31, 2026 and December 31, 2025, respectively, and (ii) deferred origination costs and fees of $ 6.5 million and $ 5.4 million at March 31, 2026 and December 31, 2025, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $ 80.7 million and $ 80.3 million at March 31, 2026 and December 31, 2025, respectively, and is included in interest receivable on the consolidated balance sheets.

The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $ 1.7 million and $ 3.3 million at June 30, 2026 and December 31, 2025, respectively, and (ii) deferred origination costs and fees of $ 3.8 million and $ 5.4 million at June 30, 2026 and December 31, 2025, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $ 81.4 million and $ 80.3 million at June 30, 2026 and December 31, 2025, respectively, and is included in interest receivable on the consolidated balance sheets.

Loan Origination/Risk Management – The Company seeks to manage its credit risk by diversifying its loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral;

34 unchanged sentences

The amortized cost basis of nonaccrual loans segregated by class of loans are as follows:

March 31, December 31,

June 30, December 31,

(In thousands) 2026 2025

10 unchanged sentences

Total $ 165,295 $ 111,791

As of March 31, 2026 and December 31, 2025, nonaccrual loans for which there was no related allowance for credit losses had an amortized cost of $ 38.6 million and $ 18.0 million, respectively.

As of June 30, 2026 and December 31, 2025, nonaccrual loans for which there was no related allowance for credit losses had an amortized cost of $ 23.3 million and $ 18.0 million, respectively.

These loans are individually assessed and do not hold an allowance due to being adequately collateralized under the collateral-dependent valuation method.

5 unchanged sentences

Loans 90 Days

March 31, 2026

June 30, 2026

Credit cards $ 2,973 $ 701 $ 3,674 $ 170,474 $ 174,148 $ 610

27 unchanged sentences

The Company primarily uses interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal.

The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three month period ended March 31, 2026.

Percent of Percent of

1 unchanged sentence

(Dollars in thousands) Reduction of Loans Term Extension of Loans

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Single family residential $ 58 — % $ — — %

Total real estate 58 —

Total $ 58 $ —

Six Months Ended June 30, 2026

Other consumer $ 4 — % $ 7 0.01 %

4 unchanged sentences

Total $ 2,579 $ 7

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2026.

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three and six month periods ended June 30, 2026.

Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during the period.

Interest Rate Total Class

(Dollars in thousands) Reduction of Loans

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Single family residential $ 82 — %

Total real estate $ 82

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2025.

Six Months Ended June 30, 2025

Single family residential $ 528 0.02 %

Total real estate $ 528

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three and six month periods ended June 30, 2025.

Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during those periods.

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty.

During the three months ended March 31, 2026, there were no loans to borrowers experiencing financial difficulty (modified in the previous twelve months) that had a payment default during the period.

During the six months ended June 30, 2026, there were no loans to borrowers experiencing financial difficulty (modified in the previous twelve months) that had a payment default during the period.

There was one CRE loan, related to a downtown St.

Louis hotel that was originated pre-pandemic, to a borrower experiencing financial difficulty with a period-end amortized cost basis of $ 26.7 million that was modified during 2024 which subsequently defaulted during the three months ended March 31, 2025.

This CRE loan was placed on nonaccrual status and ultimately charged off during 2025.

In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received more than 90 days after its due date.

At March 31, 2026 and December 31, 2025, the Company had $ 4.1 million and $ 4.4 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process.

At March 31, 2026 and December 31, 2025, the Company had $ 3.9 million and $ 3.6 million, respectively, of Other Real Estate Owned (“OREO”) secured by residential real estate properties.

At June 30, 2026 and December 31, 2025, the Company had $ 3.9 million and $ 4.4 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process.

At June 30, 2026 and December 31, 2025, the Company had $ 3.1 million and $ 3.6 million, respectively, of Other Real Estate Owned (“OREO”) secured by residential real estate properties.

Credit Quality Indicators – As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) nonperforming loans (see details above) and (v) the general economic conditions of the Company’s local markets.

64 unchanged sentences

• Doubtful and loss - Includes loans with an expanded risk rating of 15 and 16.

The following table presents a summary of loans by credit quality indicator, as of March 31, 2026, segregated by class of loans.

The following table presents a summary of loans by credit quality indicator, as of June 30, 2026, segregated by class of loans.

Term Loans Amortized Cost Basis by Origination Year

121 unchanged sentences

Beyond the reasonable and supportable periods, the economic variables revert to a historical equilibrium at a pace dependent on the state of the economy reflected within the economic scenarios.

To determine the best estimate of credit losses as of March 31, 2026, the Company utilized a probability-weighted, multiple-scenario approach consisting of Baseline, Upside (S1), and Downside (S3) scenarios published by Moody’s Analytics in March 2026 that was updated to reflect the U.S.

To determine the best estimate of credit losses as of June 30, 2026, the Company utilized a probability-weighted, multiple-scenario approach consisting of Baseline, Upside (S1), and Downside (S3) scenarios published by Moody’s Analytics in June 2026 that was updated to reflect the U.S.

economic outlook.

9 unchanged sentences

If a loss is determined to be probable, the loss is included in the allowance for credit losses as a specific allocation.

Loans for which the repayment is expected to be provided substantially through the operation or sale of collateral and where the borrower is experiencing financial difficulty had an amortized cost of $ 110.4 million and $ 112.4 million as of March 31, 2026 and December 31, 2025, respectively, as further detailed in the table below.

Loans for which the repayment is expected to be provided substantially through the operation or sale of collateral and where the borrower is experiencing financial difficulty had an amortized cost of $ 106.8 million and $ 112.4 million as of June 30, 2026 and December 31, 2025, respectively, as further detailed in the table below.

The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.

(In thousands) Real Estate Collateral Other Collateral Total

March 31, 2026

June 30, 2026

Construction and development $ 44,025 $ — $ 44,025

9 unchanged sentences

Total $ 110,380 $ 1,994 $ 112,374

The following table details activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026.

The following table details activity in the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2026.

Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

3 unchanged sentences

Allowance for credit losses:

Three Months Ended March 31, 2026

Three Months Ended June 30, 2026

Beginning balance, April 1, 2026 $ 29,825 $ 188,166 $ 5,706 $ 6,211 $ 229,908

Provision for credit loss expense 3,526 12,889 943 76 17,434

Charge-offs ( 3,520 ) ( 5,465 ) ( 1,368 ) ( 350 ) ( 10,703 )

Recoveries 812 151 244 381 1,588

Net (charge-offs) recoveries ( 2,708 ) ( 5,314 ) ( 1,124 ) 31 ( 9,115 )

Ending balance, June 30, 2026 $ 30,643 $ 195,741 $ 5,525 $ 6,318 $ 238,227

(In thousands) Commercial Real

Estate Credit

and Other Total

Six Months Ended June 30, 2026

Beginning balance, January 1, 2026 $ 27,998 $ 183,677 $ 5,991 $ 6,711 $ 224,377

3 unchanged sentences

Net (charge-offs) recoveries ( 4,121 ) ( 11,494 ) ( 2,333 ) ( 258 ) ( 18,206 )

Ending balance, March 31, 2026 $ 29,825 $ 188,166 $ 5,706 $ 6,211 $ 229,908

Activity in the allowance for credit losses for the three months ended March 31, 2025 was as follows:

Ending balance, June 30, 2026 $ 30,643 $ 195,741 $ 5,525 $ 6,318 $ 238,227

Activity in the allowance for credit losses for the three and six months ended June 30, 2025 was as follows:

(In thousands) Commercial Real

2 unchanged sentences

Allowance for credit losses:

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Beginning balance, April 1, 2025 $ 39,913 $ 200,079 $ 6,117 $ 6,059 $ 252,168

Provision for credit loss expense 5,073 5,269 1,338 265 11,945

Charge-offs ( 8,257 ) ( 1,450 ) ( 1,702 ) ( 351 ) ( 11,760 )

Recoveries 469 87 334 294 1,184

Net (charge-offs) recoveries ( 7,788 ) ( 1,363 ) ( 1,368 ) ( 57 ) ( 10,576 )

Ending balance, June 30, 2025 $ 37,198 $ 203,985 $ 6,087 $ 6,267 $ 253,537

Six Months Ended June 30, 2025

Beginning balance, January 1, 2025 $ 41,587 $ 181,962 $ 6,007 $ 5,463 $ 235,019

3 unchanged sentences

Net (charge-offs) recoveries ( 11,034 ) ( 5,689 ) ( 2,617 ) ( 884 ) ( 20,224 )

Ending balance, March 31, 2025 $ 39,913 $ 200,079 $ 6,117 $ 6,059 $ 252,168

As of March 31, 2026, the Company’s allowance for credit losses was considered sufficient based upon expected losses that were supported by scenario-weighted economic forecasts.

The provision expense for the three months ended March 31, 2026 reflected the impact of loan growth and updated economic assumptions during the period, while the three months ended March 31, 2025 also included an incremental provision expense of $ 15.6 million related to two specific credit relationships which migrated to nonperforming during the period.

Ending balance, June 30, 2025 $ 37,198 $ 203,985 $ 6,087 $ 6,267 $ 253,537

As of June 30, 2026, the Company’s allowance for credit losses was considered sufficient based upon expected losses that were supported by scenario-weighted economic forecasts.

The provision for credit loss expense for the three and six months ended June 30, 2026 and 2025 reflected the impact of loan growth and updated economic assumptions during the periods, while the three and six months ended June 30, 2025 also included an incremental provision expense of $ 15.6 million related to two specific credit relationships which migrated to nonperforming during the period.

Reserve for Unfunded Commitments

1 unchanged sentence

This reserve is maintained at a level management believes to be sufficient to absorb losses arising from unfunded loan commitments.

The reserve for unfunded commitments was $ 25.6 million for both periods ended March 31, 2026 and December 31, 2025.

The reserve for unfunded commitments was $ 25.6 million for both periods ended June 30, 2026 and December 31, 2025.

The adequacy of the reserve for unfunded commitments is determined quarterly based on methodology similar to the methodology for determining the allowance for credit losses.

No adjustment was made to the reserve for unfunded commitments during the three month periods ended March 31, 2026 or 2025, as it was considered sufficient to cover any loss expectations.

No adjustment was made to the reserve for unfunded commitments during the three and six month periods ended June 30, 2026 or 2025, as it was considered sufficient to cover any loss expectations.

Provision for Credit Losses

Provision for credit losses is determined by the Company as the amount to be added to the allowance for credit loss accounts for various types of financial instruments including loans, securities and off-balance-sheet credit exposure after net charge-offs have been deducted to bring the allowance to a level which, in management’s best estimate, is necessary to absorb expected credit losses over the lives of the respective financial instruments.

The components of the provision for credit losses for the three month periods ended March 31, 2026 and 2025 were as follows:

The components of the provision for credit losses for the three and six month periods ended June 30, 2026 and 2025 were as follows:

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

16 unchanged sentences

The Company’s leases are classified as operating leases with a term, including expected renewal or termination options, greater than one year, and are related to certain office facilities and office equipment.

The following table presents information as of March 31, 2026 and December 31, 2025 related to the Company’s right-of-use lease assets, included in premises and equipment, and lease liabilities, included in accrued interest and other liabilities.

March 31, December 31,

The following table presents information as of June 30, 2026 and December 31, 2025 related to the Company’s right-of-use lease assets, included in premises and equipment, and lease liabilities, included in accrued interest and other liabilities:

June 30, December 31,

(Dollars in thousands) 2026 2025

3 unchanged sentences

Weighted average discount rate 3.98 % 4.18 %

Operating lease cost for the three month period ended March 31, 2026 was $ 3.8 million as compared to $ 4.1 million for the same period in 2025.

Operating lease cost for the three and six month periods ended June 30, 2026 was $ 6.8 million and $ 10.6 million, respectively, as compared to $ 3.8 million and $ 8.0 million for the same periods in 2025.

PREMISES AND EQUIPMENT

Premises and equipment are stated at cost less accumulated depreciation and amortization.

Total premises and equipment, net at March 31, 2026 and December 31, 2025 were as follows:

March 31, December 31,

Total premises and equipment, net at June 30, 2026 and December 31, 2025 were as follows:

June 30, December 31,

(In thousands) 2026 2025

12 unchanged sentences

Subsequent increases in goodwill value are not recognized in the financial statements.

Goodwill totaled $ 1.32 billion at March 31, 2026 and December 31, 2025.

Goodwill impairment was neither indicated no r recorded during the three months ended March 31, 2026 or the year ended December 31, 2025.

Goodwill totaled $ 1.32 billion at June 30, 2026 and December 31, 2025.

Goodwill impairment was neither indicated no r recorded during the six months ended June 30, 2026 or the year ended December 31, 2025.

Core deposit premiums represent the value of the relationships that acquired banks had with their deposit customers and are amortized over periods ranging from 10 years to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value.

Other intangible assets represent the value of other acquired relationships, including relationships with trust and wealth management customers, and are being amortized over various periods ranging from 8 years to 15 years.

Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at March 31, 2026 and December 31, 2025 were as follows:

March 31, December 31,

Changes in the carrying amount and accumulated amortization of the Company’s core deposit premiums and other intangible assets at June 30, 2026 and December 31, 2025 were as follows:

June 30, December 31,

(In thousands) 2026 2025

8 unchanged sentences

Total other intangible assets, net $ 78,228 $ 84,423

The carrying basis and accumulated amortization of the Company’s other intangible assets at March 31, 2026 and December 31, 2025 were as follows:

March 31, December 31,

The carrying basis and accumulated amortization of the Company’s other intangible assets at June 30, 2026 and December 31, 2025 were as follows:

June 30, December 31,

(In thousands) 2026 2025

8 unchanged sentences

Total other intangible assets, net $ 78,228 $ 84,423

The Company’s estimated remaining amortization expense on other intangible assets as of March 31, 2026 is as follows:

The Company’s estimated remaining amortization expense on other intangible assets as of June 30, 2026 is as follows:

(In thousands) Year Amortization

3 unchanged sentences

TIME DEPOSITS

Time deposits included approximately $ 1.42 billion and $ 1.50 billion of certificates of deposit over $250,000 at March 31, 2026 and December 31, 2025, respectively.

Brokered time deposits were $ 1.91 billion and $ 1.89 billion at March 31, 2026 and December 31, 2025, respectively.

Time deposits included approximately $ 1.38 billion and $ 1.50 billion of certificates of deposit over $250,000 at June 30, 2026 and December 31, 2025, respectively.

Brokered time deposits were $ 1.81 billion and $ 1.89 billion at June 30, 2026 and December 31, 2025, respectively.

The provision for income taxes is comprised of the following components for the periods indicated below:

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

3 unchanged sentences

The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:

March 31, December 31,

June 30, December 31,

(In thousands) 2026 2025

27 unchanged sentences

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

33 unchanged sentences

Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents.

The gross amount of recognized liabilities for repurchase agreements was $ 8.7 million and $ 21.0 million at March 31, 2026 and December 31, 2025, respectively.

The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2026 and December 31, 2025 is presented in the following tables:

The gross amount of recognized liabilities for repurchase agreements was $ 6.2 million and $ 21.0 million at June 30, 2026 and December 31, 2025, respectively.

The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2026 and December 31, 2025 is presented in the following tables:

Remaining Contractual Maturity of the Agreements

2 unchanged sentences

90 Days Total

March 31, 2026

June 30, 2026

Repurchase agreements:

4 unchanged sentences

OTHER BORROWINGS AND SUBORDINATED NOTES AND DEBENTURES

Debt at March 31, 2026 and December 31, 2025 consisted of the following components:

March 31, December 31,

Debt at June 30, 2026 and December 31, 2025 consisted of the following components:

June 30, December 31,

(In thousands) 2026 2025

21 unchanged sentences

The 2025 Notes qualify for Tier 2 capital treatment.

The Company had total outstanding FHLB advances of $ 431.6 million and $ 286.6 million at March 31, 2026 and December 31, 2025, respectively.

The outstanding FHLB advances as of March 31, 2026 were primarily whole loan advances, which are due less than one year from origination and therefore were classified as short-term advances by the Company.

At March 31, 2026, the FHLB advances outstanding were secured by mortgage loans and investment securities totaling approximately $ 7.26 billion and the Company had approximately $ 5.83 billion of additional advances available from the FHLB.

The Company had total outstanding FHLB advances of $ 926.5 million and $ 286.6 million at June 30, 2026 and December 31, 2025, respectively.

The outstanding FHLB advances as of June 30, 2026 were primarily overnight advances, which are due less than one year from origination and therefore were classified as short-term advances by the Company.

At June 30, 2026, the FHLB advances outstanding were secured by mortgage loans and investment securities totaling approximately $ 7.29 billion and the Company had approximately $ 5.41 billion of additional advances available from the FHLB.

The Company’s long-term debt primarily includes subordinated debt and other notes payable.

The aggregate contractual annual maturities of long-term debt at March 31, 2026, are as follows:

The aggregate contractual annual maturities of long-term debt at June 30, 2026, are as follows:

Year (In thousands)

14 unchanged sentences

On April 27, 2022, the Company’s shareholders approved an amendment to the Company’s Articles of Incorporation to remove the classification and designation for the Series D Preferred Stock.

As of March 31, 2026, there were no shares of preferred stock issued or outstanding.

As of June 30, 2026, there were no shares of preferred stock issued or outstanding.

On May 17, 2024, the Company filed a shelf registration with the SEC.

9 unchanged sentences

The Company anticipates funding for this 2026 Program to come from available sources of liquidity, including cash on hand and future cash flow.

No shares were repurchased during the three month periods ended March 31, 2026 and 2025.

During the three and six month periods ended June 30, 2026, the Company repurchased 662,082 shares at an average price of $ 21.52 per share under the 2026 Program.

No shares were repurchased during the three and six month periods ended June 30, 2025.

Market conditions and the Company’s capital needs, among other things, will drive decisions regarding future stock repurchases.

3 unchanged sentences

Since Simmons Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by Simmons Bank exceeds its net income to date for that year combined with its retained net profits for the preceding two years.

At March 31, 2026, undivided profits of Simmons Bank were approximately $ 133.6 million, none of which were available for payment of dividends to the Company, without prior regulatory approval.

At June 30, 2026, undivided profits of Simmons Bank were approximately $ 150.7 million, none of which were available for payment of dividends to the Company, without prior regulatory approval.

The risk-based capital guidelines of the Federal Reserve Board and the Arkansas State Bank Department include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution.

4 unchanged sentences

Failure to meet this capital conservation buffer would result in additional limits on dividends, other distributions and discretionary bonuses.

As of March 31, 2026, the Company and Simmons Bank met all capital adequacy requirements, including the capital conservation buffer, under the Basel III Capital Rules.

The Company’s CET1 ratio was 11.58 % at March 31, 2026.

As of June 30, 2026, the Company and Simmons Bank met all capital adequacy requirements, including the capital conservation buffer, under the Basel III Capital Rules.

The Company’s CET1 ratio was 11.60 % at June 30, 2026.

STOCK-BASED COMPENSATION

The Company’s Board of Directors has adopted various stock-based compensation plans, including the 2023 Stock and Incentive Plan that was approved by shareholders and became effective April 18, 2023.

The Company’s Board of Directors has adopted various stock-based compensation plans, including the Amended and Restated 2023 Stock and Incentive Plan that was approved by shareholders and became effective May 13, 2026.

The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance stock units and stock awards.

Pursuant to the plans, shares are reserved for future issuance by the Company upon exercise of stock options or awards of restricted stock, restricted stock units, performance stock units or stock awards granted to directors, officers and other key employees or consultants.

The table below summarizes the transactions under the Company’s active stock-based compensation plans for the three months ended March 31, 2026:

The table below summarizes the transactions under the Company’s active stock-based compensation plans for the six months ended June 30, 2026:

Stock Options

10 unchanged sentences

Forfeited/expired ( 62 ) 23.51 ( 76 ) 19.86 ( 209 ) 21.26

Balance, March 31, 2026 — $ — 1,357 $ 19.92 570 $ 19.95

Exercisable, March 31, 2026 — $ —

Stock-based compensation expense was $ 3.6 million and $ 5.3 million during the three month periods ended March 31, 2026 and 2025, respectively.

Balance, June 30, 2026 — $ — 1,385 $ 20.06 551 $ 19.94

Exercisable, June 30, 2026 — $ —

Stock-based compensation expense was $ 7.0 million and $ 8.6 million during the six month periods ended June 30, 2026 and 2025, respectively.

Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards.

There was no unrecognized stock-based compensation expense related to stock options at March 31, 2026.

Unrecognized stock-based compensation expense related to non-vested stock awards and stock units was $ 27.2 million at March 31, 2026.

There was no unrecognized stock-based compensation expense related to stock options at June 30, 2026.

Unrecognized stock-based compensation expense related to non-vested stock awards and stock units was $ 25.3 million at June 30, 2026.

At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.0 years.

There was no intrinsic value of stock options outstanding and stock options exercisable at March 31, 2026.

Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $ 19.45 as of March 31, 2026, and the exercise price multiplied by the number of options outstanding.

There was no intrinsic value of stock options exercised during the three months ended March 31, 2026 and 2025.

There was no intrinsic value of stock options outstanding and stock options exercisable at June 30, 2026.

Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $ 22.65 as of June 30, 2026, and the exercise price multiplied by the number of options outstanding.

There was no intrinsic value of stock options exercised during the six months ended June 30, 2026 and 2025.

The fair value of the Company’s employee stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model.

This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate.

There were no stock options granted during the three months ended March 31, 2026 and 2025.

There were no stock options granted during the six months ended June 30, 2026 and 2025.

EARNINGS PER SHARE (“EPS”)

3 unchanged sentences

Three Months Ended

June 30, Six Months Ended

(In thousands, except per share data) 2026 2025 2026 2025

5 unchanged sentences

Diluted earnings per share $ 0.46 $ 0.43 $ 0.93 $ 0.69

There were no stock options excluded from the three months ended March 31, 2026 earnings per share calculation as there were no outstanding stock options as of March 31, 2026.

There were 317,660 stock options excluded from the earnings per share calculation for the three months ended March 31, 2025 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the period.

There were no stock options excluded from the three and six months ended June 30, 2026 earnings per share calculation as there were no outstanding stock options as of June 30, 2026.

There were 317,660 stock options excluded from the earnings per share calculation for the three and six months ended June 30, 2025 due to the related stock option exercise price exceeding the average market price of the Company’s stock during the periods.

ADDITIONAL CASH FLOW INFORMATION

The following is a summary of the Company’s additional cash flow information:

Three Months Ended

Six Months Ended

(In thousands) 2026 2025

3 unchanged sentences

OTHER INCOME AND OTHER OPERATING EXPENSES

Other income for the three months ended March 31, 2026 and 2025 was $ 4.8 million and $ 8.0 million, respectively.

Other income for the three and six months ended June 30, 2026 was $ 8.6 million and $ 13.4 million, respectively.

Other income for the three and six months ended June 30, 2025 was $ 4.8 million and $ 12.8 million, respectively.

Other operating expenses consisted of the following:

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

7 unchanged sentences

Amortization of intangibles 3,097 3,098 6,194 6,625

Branch right sizing expense 531 994

Other expense 11,535 8,367 20,862 21,747

18 unchanged sentences

Additionally, the CODM reviews budgeted net income versus actual net income of the Company to allocate resources to meet the Company’s strategic objectives.

The following table provides a summary of the Company’s reportable operating segment results for the three months ended March 31, 2026 and 2025.

The following table provides a summary of the Company’s reportable operating segment results for the three and six months ended June 30, 2026 and 2025.

Three Months Ended

March 31, 2026 March 31, 2025

June 30, 2026 June 30, 2025

(In thousands) Community and Commercial Banking Other Consolidated Community and Commercial Banking Other Consolidated

Net interest income $ 196,682 $ 486 $ 197,168 $ 162,872 $ 550 $ 163,422

Net interest income (loss) $ 200,180 $ 447 $ 200,627 $ 172,390 $ ( 566 ) $ 171,824

Noninterest income 37,628 10,311 47,939 32,766 9,588 42,354

12 unchanged sentences

Net income $ 62,431 $ 4,260 $ 66,691 $ 52,546 $ 2,227 $ 54,773

Six Months Ended

June 30, 2026 June 30, 2025

(In thousands) Community and Commercial Banking Other Consolidated Community and Commercial Banking Other Consolidated

Net interest income (loss) $ 396,862 $ 933 $ 397,795 $ 335,262 $ ( 16 ) $ 335,246

Noninterest income 71,215 20,921 92,136 69,125 19,384 88,509

Total net revenue 468,077 21,854 489,931 404,387 19,368 423,755

Noninterest expense:

Salaries and employee benefits 141,606 9,869 151,475 139,200 9,486 148,686

Occupancy expense, net 26,025 908 26,933 23,535 960 24,495

Furniture and equipment expense 11,112 50 11,162 10,939 — 10,939

Deposit insurance 6,745 — 6,745 10,308 — 10,308

Other operating expenses (1)

89,467 2,630 92,097 85,790 2,951 88,741

Total noninterest expense 274,955 13,457 288,412 269,772 13,397 283,169

Income before provision for credit losses and income taxes 193,122 8,397 201,519 134,615 5,971 140,586

Provision for credit losses 32,056 — 32,056 38,742 — 38,742

Income tax expense 34,224 4 34,228 14,668 15 14,683

Net income $ 126,842 $ 8,393 $ 135,235 $ 81,205 $ 5,956 $ 87,161

(In thousands) Community and Commercial Banking Other Consolidated

Assets as of:

March 31, 2026 $ 24,687,988 $ 4,795 $ 24,692,783

March 31, 2025 $ 26,785,600 $ 7,391 $ 26,792,991

June 30, 2026 $ 24,772,161 $ 4,655 $ 24,776,816

June 30, 2025 $ 26,686,838 $ 6,782 $ 26,693,620

_________________________

13 unchanged sentences

Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate.

At March 31, 2026, the Company had outstanding commitments to extend credit aggregating approximately $ 800.4 million and $ 4.40 billion for credit card commitments and other loan commitments, respectively.

At June 30, 2026, the Company had outstanding commitments to extend credit aggregating approximately $ 795.8 million and $ 4.72 billion for credit card commitments and other loan commitments, respectively.

At December 31, 2025, the Company had outstanding commitments to extend credit aggregating approximately $ 799.4 million and $ 4.19 billion for credit card commitments and other loan commitments, respectively.

As of March 31, 2026, the Company had outstanding commitments to originate fixed-rate mortgage loans of approximately $ 28.4 million.

As of June 30, 2026, the Company had outstanding commitments to originate fixed-rate mortgage loans of approximately $ 28.4 million.

At December 31, 2025, the Company had outstanding commitments to originate fixed-rate mortgage loans of approximately $ 20.5 million.

3 unchanged sentences

The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers.

The Company had total outstanding letters of credit amounting to $ 71.0 million and $ 72.9 million at March 31, 2026 and December 31, 2025, respectively, with terms ranging from 9 months to 15 years.

At March 31, 2026 and December 31, 2025, the Company had no deferred revenue under standby letter of credit agreements.

The Company had total outstanding letters of credit amounting to $ 82.3 million and $ 72.9 million at June 30, 2026 and December 31, 2025, respectively, with terms ranging from 9 months to 15 years.

At June 30, 2026 and December 31, 2025, the Company had no deferred revenue under standby letter of credit agreements.

The Company has purchased letters of credit from the FHLB as security for certain public deposits.

The amount of the letters of credit was $ 993.2 million and $ 785.4 million at March 31, 2026 and December 31, 2025, respectively, and they expire in less than one year from issuance.

The amount of the letters of credit was $ 944.4 million and $ 785.4 million at June 30, 2026 and December 31, 2025, respectively, and they expire in less than one year from issuance.

FAIR VALUE MEASUREMENTS

36 unchanged sentences

Where assumptions are made using significant unobservable inputs, such loans held for sale are classified as Level 3.

At March 31, 2026 and December 31, 2025, the aggregate fair value of mortgage loans held for sale exceeded their cost.

At June 30, 2026 and December 31, 2025, the aggregate fair value of mortgage loans held for sale exceeded their cost.

Derivative instruments – The Company’s derivative instruments are reported at fair value utilizing Level 2 inputs.

The Company obtains fair value measurements from dealer quotes.

The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025.

The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025.

Fair Value Measurements Using

6 unchanged sentences

Unobservable Inputs

March 31, 2026

June 30, 2026

Available-for-sale securities

35 unchanged sentences

As the Company’s primary objective in the event of default would be to liquidate the collateral to settle the outstanding balance of the loan, collateral that is less marketable would receive a larger discount.

The following table sets forth the Company’s assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of March 31, 2026 and December 31, 2025.

The following table sets forth the Company’s assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025.

Fair Value Measurements Using

6 unchanged sentences

Unobservable Inputs

March 31, 2026

June 30, 2026

Individually assessed loans (1) (2) (collateral-dependent)

9 unchanged sentences

(1) These amounts represent the resulting carrying amounts on the consolidated balance sheets for collateral-dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period.

(2) Identified reserves of $ 8.2 million and $ 9.1 million were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended March 31, 2026 and December 31, 2025, respectively.

(2) Identified reserves of $ 11.6 million and $ 9.1 million were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended June 30, 2026 and December 31, 2025, respectively.

ASC Topic 825, Financial Instruments , requires disclosure in annual and interim financial statements of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis.

27 unchanged sentences

(In thousands) Amount Level 1 Level 2 Level 3 Total

March 31, 2026

June 30, 2026

Financial assets:

20 unchanged sentences

26,163 — 26,163 — 26,163

Carrying Fair Value Measurements

(In thousands) Amount Level 1 Level 2 Level 3 Total

December 31, 2025

44 unchanged sentences

The two year forward start date for these swaps occurred during late third quarter of 2023 and involves the payment of fixed interest rates with a weighted average of 1.21 % in exchange for variable interest rates based on federal funds rates.

For the three month period ended March 31, 2026, the net amount included in interest income on investment securities in the consolidated statements of income related to fair value hedges was $ 6.2 million.

During the third quarter of 2025, the Company began utilizing step-down interest rate swaps designated as fair value hedges to mitigate the risk of changes in the fair value of the $ 325.0 million in aggregate principal amount of the 2025 Notes due to changes in market interest rates.

1 unchanged sentence

The following table summarizes the fair value hedges recorded in the accompanying consolidated balance sheets.

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

(In thousands) Balance Sheet Location Weighted Average Pay Rate Receive Rate Notional Fair Value Notional Fair Value

4 unchanged sentences

Carrying Amount of Hedged Assets/Liabilities Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/Liabilities

Line Item on the Balance Sheet (In thousands) March 31, 2026 December 31, 2025 March 31, 2026 December 31, 2025

Line Item on the Balance Sheet (In thousands) June 30, 2026 December 31, 2025 June 30, 2026 December 31, 2025

Investment securities - Available-for-sale $ 962,791 $ 970,976 $ 64,738 $ 60,013

5 unchanged sentences

These receive-fixed/pay-variable swaps are used to manage variability in future cash flows related to interest rate exposure within each portfolio.

The cash flow hedges were determined to be highly effective during the periods presented and as a result qualify for hedge accounting treatment.

The following table summarizes the cash flow hedges recorded in the accompanying consolidated balance sheets:

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

(In thousands) Balance Sheet Location Weighted Average Pay Rate Receive Rate Notional Fair Value Notional Fair Value

Variable rate loans Other assets 1M CME Term SOFR 3.18 % - 4.05 %

Variable rate loans Accrued interest and other liabilities 1M CME Term SOFR 3.18 % - 4.05 %

$ 1,000,000 $ ( 16,022 ) $ 1,000,000 $ ( 919 )

Variable rate commercial MBS Other assets SOFR 30A 3.07 % - 3.82 %

Variable rate commercial MBS Accrued interest and other liabilities SOFR 30A 3.07 % - 3.82 %

300,000 ( 1,673 ) 300,000 317

The following table summarizes the cash flow hedges relationships on the statement of comprehensive income (loss).

Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)

Net Change in Other Comprehensive Income (Loss)

Three Months Ended

June 30, Six Months Ended

(In thousands) 2026 2025 2026 2025

1 unchanged sentence

Variable rate commercial MBS ( 776 ) — ( 1,990 ) —

The cash flow hedges were determined to be highly effective during the periods presented and as a result qualify for hedge accounting treatment.

The following table summarizes the gains (losses) related to our fair value and cash flow hedges in the accompanying consolidated statements of income:

Three Months Ended

June 30, 2026 June 30, 2025

Interest Income Interest Expense Interest Income Interest Expense

(In thousands) Loans (including fees) Investment securities Subordinated debentures Loans (including fees) Investment securities Subordinated debentures

Net swap settlement on fair value hedges $ — $ 6,251 $ 78 $ — $ 8,061 $ —

Cash flow hedges:

Amount of derivative gains (losses) reclassified into income ( 1,019 ) 136 — — — —

Total amounts reported on the Consolidated Income Statement ( 1,019 ) 6,387 78 — 8,061 —

Six Months Ended

June 30, 2026 June 30, 2025

Interest Income Interest Expense Interest Income Interest Expense

(In thousands) Loans (including fees) Investment securities Subordinated debentures Loans (including fees) Investment securities Subordinated debentures

Net swap settlement on fair value hedges $ — $ 12,436 $ 34 $ — $ 16,000 $ —

Cash flow hedges:

Amount of derivative gains (losses) reclassified into income ( 1,258 ) 198 — — — —

Total amounts reported on the Consolidated Income Statement ( 1,258 ) 12,634 34 — 16,000 —

As of June 30, 2026, net losses related to the variable rate loans and variable rate commercial MBS in other comprehensive income that are expected to be reclassified into earnings within the next 12 months totaled $ 6.9 million and $ 1.4 million, respectively.

Customer Risk Management Interest Rate Swaps

6 unchanged sentences

The following table summarizes the fair values of loan derivative contracts recorded in the accompanying consolidated balance sheets.

March 31, 2026 December 31, 2025

June 30, 2026 December 31, 2025

(In thousands) Notional Fair Value Notional Fair Value

4 unchanged sentences

The interest rate swap mark to market only impacts the Company if the swap is in a liability position to the counterparty and the customer defaults on payments to the counterparty.

The notional amount of these contingent agreements is $ 12.4 million as of March 31, 2026.

The notional amount of these contingent agreements is $ 4.0 million as of June 30, 2026.

Energy Hedging

5 unchanged sentences

These risks are mitigated by customer credit underwriting policies and establishing a predetermined hedge line for each borrower and by monitoring the exchange margin.

The Company has no outstanding notional values related to energy hedge swap contracts as of March 31, 2026.

The Company has no outstanding notional values related to energy hedge swap contracts as of June 30, 2026.

Currently, the Company generally does not intend to offer hedging services to any remaining energy related customers.

4 unchanged sentences

Results of Review of Interim Financial Information

We have reviewed the consolidated balance sheet of Simmons First National Corporation and subsidiaries (the “Company”) as of March 31, 2026, and the related consolidated statements of income, comprehensive income (loss), stockholders’ equity and cash flows for the three month periods ended March 31, 2026 and 2025, and the related notes (collectively referred to as the “interim financial information”).

We have reviewed the consolidated balance sheet of Simmons First National Corporation and subsidiaries (the “Company”) as of June 30, 2026, and the related consolidated statements of income, comprehensive income (loss), and stockholders’ equity for the three and six month periods ended June 30, 2026 and 2025, and cash flows for the six month periods ended June 30, 2026 and 2025, and the related notes (collectively referred to as the “interim financial information”).

Based on our reviews, we are not aware of any material modifications that should be made to the interim financial information referred to above for it to be in conformity with accounting principles generally accepted in the United States of America.

6 unchanged sentences

We conducted our review in accordance with the standards of the PCAOB.

A review of interim financial statements consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters.

A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters.

It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole.

2 unchanged sentences

Little Rock, Arkansas

August 5, 2026

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements