Simmons First National (SFNC) 8-K Results of Operations and Financial Condition

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Exchange Act of 1934

Date of Report (Date of earliest event reported) July 21, 2005

SIMMONS FIRST NATIONAL CORPORATION

(Exact name of registrant as specified in its charter)

Arkansas	0-6253	71-0407808
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

501 Main Street, Pine Bluff, Arkansas	71601
(Address of principal executive offices)	(Zip Code)

(870) 541-1000

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ]Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM: 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The following is the text of a press release issued by the registrant at 8:20 A.M. Central Time on July 21, 2005.

SIMMONS FIRST ANNOUNCES RECORD EARNINGS

Pine Bluff, AR - Simmons First National Corporation (NASDAQ NM:SFNC) today announced record earnings for the three and six-month periods ended June 30, 2005. Net income for the quarter was $6.9 million, an increase of $655,000, or 10.4% over the second quarter of 2004. Diluted earnings per share were $0.47 for the second quarter of 2005 compared to $0.42 per share for the same period in 2004, an increase of 11.9%.

For the six-month period ended June 30, 2005, net income was $12.8 million, an increase of $1.1 million, or 9.4% over the same period in 2004. Diluted earnings per share for the six-month period were $0.87, an increase of $0.08, or 10.1%.

“The second quarter results were excellent for Simmons First. We are very pleased with our earnings performance, loan growth, and continued improvement in asset quality,” remarked J. Thomas May, Chairman and Chief Executive Officer. “The increase in earnings over the same quarter last year is the result of an improvement in the Company’s net interest margin, coupled with a modest 1.9% increase in non-interest expense.”

Net interest income for the second quarter of 2005 increased 6.3% to $22.5 million. Net interest margin, on a fully taxable equivalent basis, was 4.15% in the second quarter of 2005 compared to 4.05% in the second quarter of 2004, an increase of 10 basis points. These increases are primarily attributable to growth in the loan portfolio and a reduction in interest expense associated with the 2004 prepayment of a portion of the Company’s trust preferred securities.

The Company’s loan portfolio totaled $1.7 billion at June 30, 2005, an increase of $119 million, or 7.7% over the same period last year. The growth was primarily attributable to increased demand in the commercial and real estate loan portfolios. Deposits were $2.0 billion at June 30, 2005, a $95 million, or 4.9% increase from June 30, 2004.

Asset quality for the second quarter continued to strengthen as non-performing assets decreased by $2.9 million from the same period last year, a 20% decrease. Non-performing loans to total loans improved to 0.61% from 0.83% from the same period last year, while the allowance for loan losses improved to 232% of non-performing loans as of June 30, 2005, compared to 188% as of June 30, 2004. At quarter end, the allowance for loan losses equaled 1.63% of total loans. The Company’s annualized net charge-off ratio for the second quarter of 2005 was 0.33%. Excluding credit cards, the annualized net charge-off ratio was 0.11%.

Total assets were $2.5 billion at June 30, 2005, an increase of $160 million over the quarter ended June 30, 2004. Stockholders’ equity at June 30, 2005 was $239 million, an $11.1 million increase from June 30, 2004.

Simmons First National Corporation is an Arkansas based financial holding company with eight community banks in Pine Bluff, Lake Village, Jonesboro, Rogers, Searcy, Russellville, El Dorado and Hot Springs, Arkansas. The Company’s eight banks conduct financial operations from 78 offices, of which 76 are financial centers, in 44 communities.

CONFERENCE CALL

Management will conduct a conference call to review this information at 3:00 p.m. Central Time on Thursday, July 21, 2005. Interested parties can listen to this call by calling 1-800-854-4175 (United States and Canada only) and asking for the Simmons First National Corporation conference call. A recorded playback of the call will be available the next morning by calling 1-800-642-1687. The passcode for this playback is 7363813 and the recording will be available through the end of business July 31, 2005. In addition, the call will be available live or in recorded version on the Company’s Web site at www.simmonsfirst.com under the “webcast” icon.

GENERAL

Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Simmons First National Corporation’s financial results is included in its Form 10-K filing with the Securities and Exchange Commission.

####

FOR MORE INFORMATION CONTACT:

ROBERT A. FEHLMAN

Senior Vice President and Chief Financial Officer

Simmons First National Corporation

(870) 541-1231

Simmons First National Corporation														SFNC
Consolidated End of Period Balance Sheets
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)		2005			2005			2004			2004			2004
ASSETS
Cash and non-interest bearing balances due from banks	$	73,169		$	67,615		$	72,032		$	77,944		$	79,555
Interest bearing balances due from banks		27,861			22,030			36,249			11,273			12,660
Federal funds sold		43,230			56,580			45,450			17,300			41,555
Cash and cash equivalents		144,260			146,225			153,731			106,517			133,770
Investment securities - held-to-maturity		149,293			147,644			151,264			178,450			179,316
Investment securities - available-for-sale		400,451			411,340			390,794			385,131			376,098
Mortgage loans held for sale		8,361			11,641			9,246			11,153			9,094
Assets held in trading accounts		4,680			4,718			4,916			2,149			389
Loans		1,662,337			1,586,483			1,571,376			1,602,127			1,543,163
Allowance for loan losses		(27,013	)		(26,422	)		(26,508	)		(27,602	)		(27,268	)
Net loans		1,635,324			1,560,061			1,544,868			1,574,525			1,515,895
Premises and equipment		59,086			57,685			57,211			55,027			51,614
Foreclosed assets held for sale, net		1,482			1,340			1,839			1,789			1,641
Interest receivable		15,705			15,276			14,248			15,361			12,797
Bank owned life insurance		32,673			7,410			3,536			3,488			3,454
Goodwill		60,454			60,454			60,454			60,454			60,432
Core deposit premiums		5,414			5,621			5,829			6,035			6,243
Other assets		13,202			13,095			16,008			18,204			19,770
TOTAL ASSETS	$	2,530,385		$	2,442,510		$	2,413,944		$	2,418,283		$	2,370,513
LIABILITIES
Non-interest bearing transaction accounts	$	308,543		$	296,347		$	293,137		$	287,632		$	298,556
Interest bearing transaction accounts and savings deposits		777,820			773,365			769,296			749,492			746,595
Time deposits less than $100,000		561,937			562,171			539,836			547,510			545,551
Time deposits greater than $100,000		377,991			376,478			356,926			357,566			340,368
Total deposits		2,026,291			2,008,361			1,959,195			1,942,200			1,931,070
Federal funds purchased and securities sold under agreements to
repurchase		122,255			89,991			104,785			96,384			70,656
Short-term debt		36,851			907			2,373			13,763			11,665
Long-term debt - parent company		6,000			6,000			6,000			6,000			8,000
Long-term FHLB debt - affiliate banks		52,854			55,583			57,733			59,775			56,077
Subordinated debt issued to capital trusts		30,930			30,930			30,930			48,714			48,714
Accrued interest and other liabilities		16,512			18,466			14,706			15,993			16,721
TOTAL LIABILITIES		2,291,693			2,210,238			2,175,722			2,182,829			2,142,903
STOCKHOLDERS' EQUITY
Capital stock		144			144			146			146			146
Surplus		55,608			56,315			62,826			62,659			63,044
Undivided profits		184,865			180,075			176,374			172,726			167,864
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(1,925	)		(4,262	)		(1,124	)		(77	)		(3,444	)
TOTAL STOCKHOLDERS' EQUITY		238,692			232,272			238,222			235,454			227,610
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,530,385		$	2,442,510		$	2,413,944		$	2,418,283		$	2,370,513

Page 1

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)	2005			2005			2004			2004			2004
ASSETS
Cash and non-interest bearing balances due from banks	$	77,007		$	77,862		$	85,375		$	77,139		$	75,206
Interest bearing balances due from banks		15,765			35,027			38,498			13,817			33,677
Federal funds sold		35,157			52,022			60,033			36,389			46,206
Cash and cash equivalents		127,929			164,911			183,906			127,345			155,089
Investment securities - held-to-maturity		149,038			149,986			171,402			178,537			180,143
Investment securities - available-for-sale		412,101			404,127			383,325			378,591			374,576
Mortgage loans held for sale		9,425			8,532			9,682			10,211			12,512
Assets held in trading accounts		4,696			4,234			5,510			236			734
Loans		1,626,513			1,575,329			1,570,724			1,577,821			1,529,321
Allowance for loan losses		(26,859	)		(27,004	)		(27,823	)		(27,648	)		(27,325	)
Net loans		1,599,654			1,548,325			1,542,901			1,550,173			1,501,996
Premises and equipment		58,320			57,538			56,128			52,508			51,287
Foreclosed assets held for sale, net		1,420			1,468			1,728			1,798			1,841
Interest receivable		15,301			14,398			14,854			13,852			13,349
Bank owned life insurance		24,823			3,593			3,507			3,469			3,416
Goodwill		60,454			60,454			60,454			60,450			59,613
Core deposit premiums		5,534			5,745			5,947			6,153			6,246
Other assets		12,104			15,554			18,212			19,265			19,023
TOTAL ASSETS	$	2,480,799		$	2,438,865		$	2,457,556		$	2,402,588		$	2,379,825
LIABILITIES
Non-interest bearing transaction accounts	$	300,909		$	296,921		$	302,117		$	292,578		$	297,109
Interest bearing transaction accounts and savings deposits		778,516			771,301			766,178			740,559			732,485
Time deposits less than $100,000		561,884			556,878			545,003			550,054			550,858
Time deposits greater than $100,000		373,366			369,372			357,800			348,148			350,832
Total deposits		2,014,675			1,994,472			1,971,098			1,931,339			1,931,284
Federal funds purchased and securities sold under agreements to
repurchase		108,519			98,499			107,150			91,950			78,372
Short-term debt		13,098			992			10,143			19,967			8,529
Long-term debt		91,045			93,365			113,370			111,025			113,913
Accrued interest and other liabilities		16,271			14,711			15,799			15,263			17,788
TOTAL LIABILITIES		2,243,608			2,202,039			2,217,560			2,169,544			2,149,886
TOTAL STOCKHOLDERS' EQUITY		237,191			236,826			239,996			233,044			229,939
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,480,799		$	2,438,865		$	2,457,556		$	2,402,588		$	2,379,825

Page 2

Simmons First National Corporation														SFNC
Consolidated Average Year-to-Date Balance Sheets
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)		2005			2005			2004			2004			2004
ASSETS
Cash and non-interest bearing balances due from banks	$	77,432		$	77,862		$	77,836		$	75,305		$	74,377
Interest bearing balances due from banks		25,343			35,027			36,587			35,946			47,132
Federal funds sold		43,543			52,022			56,423			55,211			64,726
Cash and cash equivalents		146,318			164,911			170,846			166,462			186,235
Investment securities - held-to-maturity		149,509			149,986			176,585			178,325			178,219
Investment securities - available-for-sale		408,136			404,127			361,231			358,082			347,715
Mortgage loans held for sale		8,981			8,532			10,087			10,223			10,229
Assets held in trading accounts		4,466			4,234			4,980			531			678
Loans		1,601,062			1,575,329			1,528,447			1,514,252			1,482,118
Allowance for loan losses		(26,931	)		(27,004	)		(27,186	)		(26,972	)		(26,631	)
Net loans		1,574,131			1,548,325			1,501,261			1,487,280			1,455,487
Premises and equipment		57,931			57,538			52,464			51,234			50,589
Foreclosed assets held for sale, net		1,444			1,468			1,990			2,077			2,219
Interest receivable		14,852			14,398			13,626			13,214			12,891
Bank owned life insurance		14,266			3,593			2,431			2,777			2,431
Goodwill		60,454			60,454			56,996			55,704			53,331
Core deposit premiums		5,639			5,745			5,840			5,934			5,797
Other assets		13,821			15,554			19,443			19,150			19,089
TOTAL ASSETS	$	2,459,948		$	2,438,865		$	2,377,780		$	2,350,993		$	2,324,910
LIABILITIES
Non-interest bearing transaction accounts	$	298,926		$	296,921		$	293,060		$	290,019		$	288,725
Interest bearing transaction accounts and savings deposits		774,928			771,301			729,842			717,643			706,058
Time deposits less than $100,000		559,395			556,878			543,136			542,508			538,696
Time deposits greater than $100,000		371,380			369,372			349,224			346,344			345,432
Total deposits		2,004,629			1,994,472			1,915,262			1,896,514			1,878,911
Federal funds purchased and securities sold under agreements to
repurchase		103,537			98,499			94,465			90,206			89,324
Short-term debt		7,078			992			11,252			11,626			7,408
Long-term debt		92,199			93,365			110,946			110,131			109,678
Accrued interest and other liabilities		15,495			14,711			16,136			16,248			16,746
TOTAL LIABILITIES		2,222,938			2,202,039			2,148,061			2,124,725			2,102,067
TOTAL STOCKHOLDERS' EQUITY		237,010			236,826			229,719			226,268			222,843
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,459,948		$	2,438,865		$	2,377,780		$	2,350,993		$	2,324,910

Page 3

Simmons First National Corporation											SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended		Jun 30			Mar 31		Dec 31		Sep 30		Jun 30
(In thousands, except per share data)		2005			2005		2004		2004		2004
INTEREST INCOME
Loans	$	27,175		$	25,413	$	25,363	$	24,956	$	23,802
Federal funds sold		273			327		303		140		110
Investment securities		4,659			4,574		4,496		4,494		4,343
Mortgage loans held for sale, net of unrealized gains (losses)		134			119		130		159		174
Assets held in trading accounts		25			25		35		2		1
Interest bearing balances due from banks		103			196		172		34		76
TOTAL INTEREST INCOME		32,369			30,654		30,499		29,785		28,506
INTEREST EXPENSE
Time deposits		6,071			5,278		4,752		4,555		4,475
Other deposits		1,859			1,635		1,469		1,269		1,177
Federal funds purchased and securities
sold under agreements to repurchase		754			545		471		302		202
Short-term debt		104			14		41		94		24
Long-term debt		1,104			1,089		1,512		1,448		1,478
TOTAL INTEREST EXPENSE		9,892			8,561		8,245		7,668		7,356
NET INTEREST INCOME		22,477			22,093		22,254		22,117		21,150
Provision for loan losses		1,939			2,221		1,932		1,932		2,019
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		20,538			19,872		20,322		20,185		19,131
NON-INTEREST INCOME
Trust income		1,349			1,385		1,400		1,388		1,233
Service charges on deposit accounts		4,153			3,414		3,642		3,928		3,767
Other service charges and fees		454			584		524		571		518
Income on sale of mortgage loans, net of commissions		712			682		781		814		1,045
Income on investment banking, net of commissions		161			58		131		101		198
Credit card fees		2,584			2,340		2,630		2,544		2,517
Premiums on sale of student loans		642			634		247		417		843
Bank owned life insurance income		218			20		23		23		26
Other income		724			954		612		633		644
Gain (loss) on sale of securities, net		(168	)		-		-		-		-
TOTAL NON-INTEREST INCOME		10,829			10,071		9,990		10,419		10,791
NON-INTEREST EXPENSE
Salaries and employee benefits		12,697			12,831		12,357		12,091		12,280
Occupancy expense, net		1,394			1,436		1,374		1,431		1,377
Furniture and equipment expense		1,406			1,449		1,444		1,445		1,399
Loss on foreclosed assets		55			48		116		49		137
Deposit insurance		69			73		68		76		71
Write off of deferred debt issuance cost		-			-		771		-		-
Other operating expenses		5,343			5,578		5,542		5,503		5,304
TOTAL NON-INTEREST EXPENSE		20,964			21,415		21,672		20,595		20,568
NET INCOME BEFORE INCOME TAXES		10,403			8,528		8,640		10,009		9,354
Provision for income taxes		3,460			2,668		2,800		3,102		3,066
NET INCOME	$	6,943		$	5,860	$	5,840	$	6,907	$	6,288
BASIC EARNINGS PER SHARE	$	0.48		$	0.41	$	0.40	$	0.47	$	0.43
DILUTED EARNINGS PER SHARE	$	0.47		$	0.40	$	0.39	$	0.47	$	0.42

Page 4

Simmons First National Corporation											SFNC
Consolidated Statements of Income - Year-to-Date
For the Quarters Ended		Jun 30			Mar 31		Dec 31		Sep 30		Jun 30
(In thousands, except per share data)		2005			2005		2004		2004		2004
INTEREST INCOME
Loans	$	52,588		$	25,413	$	96,853	$	71,490	$	46,534
Federal funds sold		600			327		748		445		305
Investment securities		9,233			4,574		17,447		12,951		8,457
Mortgage loans held for sale, net of unrealized gains (losses)		253			119		575		445		286
Assets held in trading accounts		50			25		41		6		4
Interest bearing balances due from banks		299			196		400		228		194
TOTAL INTEREST INCOME		63,023			30,654		116,064		85,565		55,780
INTEREST EXPENSE
Time deposits		11,349			5,278		18,198		13,446		8,891
Other deposits		3,494			1,635		4,965		3,496		2,227
Federal funds purchased and securities
sold under agreements to repurchase		1,299			545		1,227		756		454
Short-term debt		117			14		175		134		40
Long-term debt		2,192			1,089		5,863		4,351		2,903
TOTAL INTEREST EXPENSE		18,451			8,561		30,428		22,183		14,515
NET INTEREST INCOME		44,572			22,093		85,636		63,382		41,265
Provision for loan losses		4,159			2,221		8,027		6,095		4,163
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		40,413			19,872		77,609		57,287		37,102
NON-INTEREST INCOME
Trust income		2,734			1,385		5,421		4,021		2,633
Service charges on deposit accounts		7,567			3,414		14,564		10,922		6,994
Other service charges and fees		1,039			584		2,158		1,634		1,063
Income on sale of mortgage loans, net of commissions		1,395			682		3,391		2,610		1,796
Income on investment banking, net of commissions		219			58		645		514		413
Credit card fees		4,924			2,340		10,001		7,371		4,827
Premiums on sale of student loans		1,276			634		2,114		1,867		1,450
Bank owned life insurance income		238			20		73		50		26
Other income		1,677			954		2,480		1,868		1,236
Gain (loss) on sale of securities, net		(168	)		-		-		-		-
TOTAL NON-INTEREST INCOME		20,901			10,071		40,847		30,857		20,438
NON-INTEREST EXPENSE
Salaries and employee benefits		25,529			12,831		48,533		36,176		24,085
Occupancy expense, net		2,831			1,436		5,500		4,126		2,695
Furniture and equipment expense		2,855			1,449		5,646		4,202		2,757
Loss on foreclosed assets		103			48		346		230		181
Deposit insurance		142			73		284		216		140
Write off of deferred debt issuance cost		-			-		771		-		-
Other operating expenses		10,923			5,578		21,447		15,905		10,402
TOTAL NON-INTEREST EXPENSE		42,383			21,415		82,527		60,855		40,260
NET INCOME BEFORE INCOME TAXES		18,931			8,528		35,929		27,289		17,280
Provision for income taxes		6,128			2,668		11,483		8,683		5,581
NET INCOME	$	12,803		$	5,860	$	24,446	$	18,606	$	11,699
BASIC EARNINGS PER SHARE	$	0.89		$	0.41	$	1.68	$	1.28	$	0.81
DILUTED EARNINGS PER SHARE	$	0.87		$	0.40	$	1.65	$	1.26	$	0.79

Page 5

Simmons First National Corporation														SFNC
Consolidated Risk-Based Capital
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)		2005			2005			2004			2004			2004
Tier 1 capital
Stockholders' equity	$	238,692		$	232,272		$	238,222		$	235,454		$	227,610
Trust preferred securities, net allowable		30,000			30,000			30,000			47,250			46,993
Disallowed intangible assets, net of def. tax		(65,496	)		(65,718	)		(66,283	)		(66,489	)		(66,675	)
Unrealized loss (gain) on AFS securities		1,925			4,262			1,124			77			3,444
Other		-			-			(738	)		(1,532	)		(1,110	)
Total Tier 1 capital		205,121			200,816			202,325			214,760			210,262
Tier 2 capital
Qualifying unrealized gain on AFS securities		415			206			392			405			373
Qualifying allowance for loan losses		21,157			20,107			19,961			20,540			19,924
Total Tier 2 capital		21,572			20,313			20,353			20,945			20,297
Total risk-based capital	$	226,693		$	221,129		$	222,678		$	235,705		$	230,559
Risk weighted assets	$	1,686,669		$	1,602,295		$	1,590,373		$	1,636,142		$	1,586,554
Assets for leverage ratio	$	2,420,348		$	2,379,954		$	2,391,149		$	2,337,627		$	2,314,344
Ratios at end of quarter
Leverage ratio		8.47	%		8.44	%		8.46	%		9.19	%		9.09	%
Tier 1 capital		12.16	%		12.53	%		12.72	%		13.13	%		13.25	%
Total risk-based capital		13.44	%		13.80	%		14.00	%		14.41	%		14.53	%

Page 6

Simmons First National Corporation														SFNC
Consolidated Loans and Investments
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)		2005			2005			2004			2004			2004
Loan Portfolio - End of Period
Consumer
Credit cards	$	141,398		$	141,793		$	155,326		$	152,198		$	150,265
Student loans		75,565			87,745			83,283			82,140			72,410
Other consumer		131,210			127,245			128,552			130,267			135,448
Real Estate
Construction		207,136			186,526			169,001			148,561			138,747
Single-family residential		336,413			323,874			318,498			311,291			297,388
Other commercial		489,880			480,653			481,728			483,467			468,023
Unearned income		(9	)		(10	)		(10	)		(10	)		(11	)
Commercial
Commercial		161,474			165,946			158,613			184,017			185,126
Agricultural		83,071			53,927			62,340			94,751			77,023
Financial institutions		21,979			999			1,079			2,249			3,322
Other		14,222			17,785			12,966			13,196			15,422
Total Loans	$	1,662,339		$	1,586,483		$	1,571,376		$	1,602,127		$	1,543,163
Investment Securities - End of Period
Held-to-Maturity
U.S. Treasury	$	2,012		$	3,016		$	4,020		$	7,027		$	8,039
U.S. Government agencies		25,999			23,500			21,500			22,495			22,494
Mortgage-backed securities		212			279			307			494			516
State and political subdivisions		118,586			118,376			122,457			126,822			126,456
Other securities		2,484			2,473			2,980			21,612			21,811
Total held-to-maturity		149,293			147,644			151,264			178,450			179,316
Available-for-Sale
U.S. Treasury		20,092			23,006			24,096			20,008			18,933
U.S. Government agencies		355,534			364,227			341,086			338,309			330,291
Mortgage-backed securities		3,786			3,744			3,877			4,477			5,027
State and political subdivisions		3,589			4,194			4,746			4,434			4,429
FHLB stock		10,137			7,705			8,206			8,162			7,777
Other securities		7,313			8,464			8,783			9,741			9,641
Total available-for-sale		400,451			411,340			390,794			385,131			376,098
Total investment securities	$	549,744		$	558,984		$	542,058		$	563,581		$	555,414
Fair Value - HTM investment securities	$	150,169		$	147,287		$	152,432		$	180,593		$	178,983
Investment Securities - QTD Average
Taxable securities	$	439,010		$	430,288		$	430,585		$	423,946		$	367,721
Tax exempt securities		122,129			124,439			126,543			130,773			129,427
Total investment securities - QTD average	$	561,139		$	554,727		$	557,128		$	554,719		$	497,148

Page 7

Simmons First National Corporation														SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands)		2005			2005			2004			2004			2004
							��
Allowance for Loan Losses
Balance, beginning of quarter	$	26,422		$	26,508		$	27,602		$	27,268		$	26,764
Loans charged off
Credit cards		1,158			1,180			1,006			1,176			1,145
Other consumer		356			244			567			418			552
Real estate		222			120			418			259			355
Commercial		520			1,420			1,884			165			188
Total loans charged off		2,256			2,964			3,875			2,018			2,240
Recoveries of loans previously charged off
Credit cards		216			179			206			182			171
Other consumer		159			132			167			125			214
Real estate		47			30			75			39			143
Commercial		486			316			401			74			197
Total recoveries		908			657			849			420			725
Net loans charged off		1,348			2,307			3,026			1,598			1,515
Allowance for loan losses on acquisitions		-			-			-			-			-
Provision for loan losses		1,939			2,221			1,932			1,932			2,019
Balance, end of quarter	$	27,013		$	26,422		$	26,508		$	27,602		$	27,268
Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	6,947		$	7,360		$	6,309		$	5,923		$	6,077
Commercial		795			1,582			3,429			2,920			3,597
Consumer		1,167			1,292			1,180			1,371			1,723
Total nonaccrual loans		8,909			10,234			10,918			10,214			11,397
Loans past due 90 days or more		1,199			1,615			1,085			1,372			1,415
Total non-performing loans		10,108			11,849			12,003			11,586			12,812
Other non-performing assets
Foreclosed assets held for sale		1,482			1,340			1,839			1,789			1,641
Other non-performing assets		51			64			83			78			53
Total other non-performing assets		1,533			1,404			1,922			1,867			1,694
Total non-performing assets	$	11,641		$	13,253		$	13,925		$	13,453		$	14,506
Ratios
Allowance for loan losses to total loans		1.63	%		1.67	%		1.69	%		1.72	%		1.77	%
Allowance for loan losses to
non-performing loans		267.24	%		222.99	%		220.84	%		238.24	%		212.83	%
Allowance for loan losses to
non-performing assets		232.05	%		199.37	%		190.36	%		205.17	%		187.98	%
Non-performing assets ratio *		0.70	%		0.83	%		0.89	%		0.83	%		0.94	%
Non-performing loans to total loans		0.61	%		0.75	%		0.76	%		0.72	%		0.83	%
Non-performing assets to total assets		0.46	%		0.54	%		0.58	%		0.56	%		0.61	%
Net charge offs to total loans		0.33	%		0.58	%		0.74	%		0.39	%		0.37	%
Net charge offs to total loans
(excluding credit cards)		0.11	%		0.36	%		0.60	%		0.16	%		0.15	%
* Non-performing assets ratio = ( non-performing loans + foreclosed assets) / ( total loans + foreclosed assets)

Page 8

Simmons First National Corporation														SFNC
Consolidated - Selected Financial Data
For the Quarters Ended		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(In thousands, except share data)		2005			2005			2004			2004			2004
QUARTER-TO-DATE
Diluted earnings per share	$	0.47		$	0.40		$	0.39		$	0.47		$	0.42
Operating earnings (excludes nonrecurring items)		6,943			5,860			6,310			6,907			6,288
Diluted operating earnings per share		0.47			0.40			0.42			0.47			0.42
Cash dividends declared per common share		0.15			0.15			0.15			0.14			0.14
Cash dividends declared - amount		2,154			2,158			2,193			2,045			2,049
Return on average stockholders' equity		11.74	%		10.04	%		9.68	%		11.79	%		11.00	%
Return on average assets		1.12	%		0.97	%		0.95	%		1.14	%		1.06	%
Net interest margin (FTE)		4.15	%		4.17	%		4.09	%		4.16	%		4.05	%
FTE Adjustment - investments		720			756			689			729			708
FTE Adjustment - loans		83			83			86			91			92
Amortization of intangibles		207			207			208			208			203
Amortization of intangibles, net of taxes		130			131			132			132			129
Average shares outstanding		14,365,441			14,450,533			14,608,104			14,608,158			14,656,569
Shares repurchased		35,660			261,500			-			16,950			56,515
Average price of repurchased shares		24.17			25.95			-			24.65			24.17
Average earning assets		2,252,695			2,229,257			2,239,174			2,195,602			2,177,169
Average interest bearing liabilities		1,926,428			1,890,407			1,899,644			1,861,703			1,834,989
YEAR-TO-DATE
Diluted earnings per share	$	0.87		$	0.40		$	1.65		$	1.26		$	0.79
Operating earnings (excludes nonrecurring items)		12,803			5,860			24,916			18,606			11,699
Diluted operating earnings per share		0.87			0.40			1.68			1.26			0.79
Cash dividends declared per common share		0.30			0.15			0.57			0.42			0.28
Return on average stockholders' equity		10.89	%		10.04	%		10.64	%		10.98	%		10.56	%
Return on average assets		1.05	%		0.97	%		1.03	%		1.06	%		1.01	%
Net interest margin (FTE)		4.16	%		4.17	%		4.08	%		4.08	%		4.04	%
FTE Adjustment - investments		1,476			756			2,812			2,123			1,394
FTE Adjustment - loans		166			83			361			275			184
Amortization of intangibles		414			207			792			584			376
Amortization of intangibles, net of taxes		261			131			503			371			239
Average shares outstanding		14,407,752			14,450,533			14,515,364			14,483,772			14,420,548
Diluted shares outstanding		304,431			327,079			333,196			328,479			335,077
Average earning assets		2,241,040			2,229,257			2,174,340			2,152,570			2,130,817
Average interest bearing liabilities		1,908,517			1,890,407			1,838,865			1,818,458			1,796,596
END OF PERIOD
Book value	$	16.63		$	16.15		$	16.29		$	16.13		$	15.57
Shares outstanding		14,353,963			14,381,434			14,621,707			14,601,030			14,614,074
Full-time equivalent employees		1,094			1,083			1,086			1,097			1,085
Total number of ATM's		81			80			79			78			78
Total number of financial centers		76			75			78			78			78
Parent company only - investment in subsidiaries		262,020			259,425			257,851			257,610			250,055
Parent company only - intangible assets		133			133			133			133			133

Page 9

Simmons First National Corporation											SFNC
Consolidated - Reconciliation of Operating Earnings
For the Quarters Ended		Jun 30		Mar 31		Dec 31			Sep 30		Jun 30
(In thousands, except share data)		2005		2005		2004			2004		2004
QUARTER-TO-DATE
Net Income	$	6,943	$	5,860	$	5,840		$	6,907	$	6,288
Nonrecurring items
Write off of deferred debt issuance cost		-		-		771			-		-
Tax effect (39%)		-		-		(301	)		-		-
Net nonrecurring items		-		-		470			-		-
Operating income	$	6,943	$	5,860	$	6,310		$	6,907	$	6,288
Diluted earnings per share	$	0.47	$	0.40	$	0.39		$	0.47	$	0.42
Nonrecurring items
Write off of deferred debt issuance cost		-		-		0.05			-		-
Tax effect (39%)		-		-		(0.02	)		-		-
Net nonrecurring items		-		-		0.03			-		-
Diluted operating earnings per share	$	0.47	$	0.40	$	0.42		$	0.47	$	0.42
YEAR-TO-DATE
Net Income	$	12,803	$	5,860	$	24,446		$	18,606	$	11,699
Nonrecurring items
Write off of deferred debt issuance cost		-		-		771			-		-
Tax effect (39%)		-		-		(301	)		-		-
Net nonrecurring items		-		-		470			-		-
Operating income	$	12,803	$	5,860	$	24,916		$	18,606	$	11,699
Diluted earnings per share	$	0.87	$	0.40	$	1.65		$	1.26	$	0.79
Nonrecurring items
Write off of deferred debt issuance cost		-		-		0.05			-		-
Tax effect (39%)		-		-		(0.02	)		-		-
Net nonrecurring items		-		-		0.03			-		-
Diluted operating earnings per share	$	0.87	$	0.40	$	1.68		$	1.26	$	0.79

Page 10

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	SIMMONS FIRST NATIONAL CORPORATION
Date:  July 21, 2005	By:	/s/ Robert A. Fehlman
		Robert A. Fehlman, Senior Vice President
		and Chief Financial Officer