Simmons First National (SFNC) 8-K Simmons First Announces Second Quarter Earnings

Exhibit 99.1

FOR IMMEDIATE RELEASE: July 18, 2013

SIMMONS FIRST ANNOUNCES SECOND QUARTER EARNINGS

Pine Bluff, AR – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced second quarter 2013 net income of $6.6 million and diluted earnings per share of $0.40, an increase of $0.02, or 5.3%, compared to the same quarter last year. Year-to-date net income was $12.5 million, or $0.76 diluted earnings per share, an increase of $0.01 the same period last year.

“Considering interest rates continue at historical lows, we were pleased with our 5.3% quarterly EPS increase. More so, we were pleased with the positive trends in our balance sheet, as reflected in our normalized organic loan growth of approximately 3%, which enabled us to produce a net interest margin of 3.96%. The organic loan growth, coupled with strong asset quality, bodes well for the balance of the year,” commented George A. Makris, Jr., CEO-Elect.

Loans

Total loans, including those acquired, were $1.9 billion at June 30, 2013, an increase of $149.7 million, or 8.8%, compared to the same period in 2012. Loans acquired in FDIC-assisted acquisitions grew $113.0 million, net of discounts, and legacy loans (excluding acquired loans) grew $35.7 million. “This was the third consecutive quarter of organic loan growth.  While still not enough to call a trend, we believe it is very positive in that the growth is coming throughout our markets in Arkansas, Kansas and Missouri. Needless to say, the economy remains in a slow recovery, which makes this growth even more significant,” added Makris.

Deposits

At June 30, 2013, total deposits were $2.8 billion, an increase of $183.8 million, or 7.0%, compared to the same period in 2012.  Total non-time deposits totaled $2.0 billion, or 71% of total deposits.

Net Interest Income

The Company’s net interest income for the second quarter of 2013 was $29.6 million, an increase of $2.3 million, or 8.6%, from the same period of 2012. Net interest margin was 3.96% for the quarter ended June 30, 2013. Included in interest income for both periods was the additional yield accretion recognized as a result of updated estimates of the cash flows of the loan pools acquired in the Company’s 2010 FDIC-assisted transactions. Each quarter, the Company estimates the cash flows expected to be collected from the acquired loan pools, and adjustments may or may not be required. The cash flows estimate has increased based on payment histories and reduced loss expectations of the loan pools. This resulted in increased interest income that is spread on a level-yield basis over the remaining expected lives of the loan pools. The increases in expected cash flows also reduce the amount of expected reimbursements under the loss sharing agreements with the FDIC, which are recorded as indemnification assets. The impact of the adjustments on the Company’s financial results for the current reporting period is shown below:

	Three Months Ended						Six Months Ended
(In thousands)	June 30						June 30
	2013			2012			2013			2012
Impact on net interest income	$	3,150		$	3,004		$	6,097		$	6,189
Non-interest income		(3,062	)		(2,737	)		(5,890	)		(5,516	)
Net impact to pre-tax income	$	88		$	267		$	207		$	673

Because these adjustments will be recognized over the remaining lives of the loan pools and the remainder of the loss sharing agreements, respectively, they will impact future periods as well. The current estimate of the remaining accretable yield adjustment that will positively impact interest income is $19.5 million and the remaining adjustment to the indemnification assets that will reduce non-interest income is $16.9 million. Of the remaining adjustments, we expect to recognize $5.5 million of interest income and a $5.5 million reduction of non-interest income during the remainder of 2013, resulting in no impact to pre-tax income. The accretable yield adjustments recorded in future periods will change as the Company continues to evaluate expected cash flows from the acquired loan pools.

Non-Interest Income

Non-interest income for the second quarter was $11.3 million, an increase of $180,000, or 1.6%, compared to the second quarter of 2012.

Non-Interest Expense

Non-interest expense for the second quarter of 2013 was $30.3 million, an increase of $2.1 million compared to the same period in 2012. “Included in the quarter were $1.9 million in normal operating expenses attributable to our 2012 FDIC-assisted acquisitions. Normalized for these acquisition related expenses, non-interest expense for the quarter increased by only 0.8%. Obviously, we continue to have excellent expense control as a result of the implementation of our efficiency initiatives,” added Makris.

Asset Quality

Beginning in 2010, the Company has acquired loans and foreclosed real estate (“OREO”) through FDIC-assisted acquisitions. Through the loss share provisions of the purchase and assumption agreements, the FDIC agreed to reimburse the Company for 80% of the losses incurred on the disposition of covered loans and OREO. The acquired loans and OREO and any related FDIC loss share indemnification asset were presented in the Company's financial reports with a carrying value equal to the discounted net present value of expected future proceeds. At June 30, 2013, acquired loans covered by loss share were carried at $164 million, OREO covered by loss share was carried at $23 million and the FDIC loss share indemnification asset was carried at $68 million. Acquired loans and OREO not covered by loss share were carried at $64 million and $9 million, respectively. As a result of  using the discounted net present value method of valuing these assets, and due to the significant protection against possible losses provided by the FDIC loss share indemnification, all acquired assets, with the exception of OREO not covered by loss share, are excluded from the computations of the asset quality ratios for the legacy loan portfolio, except for their inclusion in total assets.

The Company's allowance for loan losses was $27.4 million at June 30, 2013, or 1.66% of total loans and 292% of non-performing loans. Non-performing loans as a percent of total loans were 0.57% as of June 30, 2013, down 17 basis points from December 31, 2012. “On a linked quarter basis, our non-performing assets decreased $2.8 million. Included in our non-performing assets was $8.6 million, net of a credit mark, of non-covered OREO we acquired in our two recent FDIC-assisted transactions. Normalizing for the acquired OREO, our legacy non-performing assets as a percent of total assets was 0.92% as of June 30, 2013, which continues to compare favorably to the industry and our peer group,” commented Makris. For the second quarter, the annualized net charge-off ratio, excluding credit cards, was 0.23%, and the annualized credit card charge-off ratio was 1.25%.

Capital

At June 30, 2013, stockholders' equity was $402 million, book value per share was $24.67 and tangible book value per share was $20.74. The Company's ratio of stockholders' equity to total assets was 11.7% and its ratio of tangible common equity to tangible assets was 10.1%, as of June 30, 2013.

“Our exceptional level of capital allows us to actively pursue the right opportunities that meet our strategic plan regarding mergers and acquisitions,” continued Makris. As of June 30, 2013, the Company’s regulatory capital ratios remain significantly higher than regulatory “well capitalized” guidelines:

	“Well Capitalized”	SFNC
Tier 1 Leverage Ratio	5.00%	10.95%
Tier 1 Risk-Based Capital Ratio	6.00%	18.99%
Total Risk-Based Capital Ratio	10.00%	20.24%

Stock Repurchase Program

Through the second quarter of 2013, the Company has repurchased approximately 327,000 shares at an average price of $25.50. The Company plans to continue to allocate its earnings, less dividends, to its stock repurchase program.

Simmons First National Corporation

Simmons First National Corporation is an eight bank financial holding company with 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 96 offices, of which 92 are financial centers, in 55 communities in Arkansas, Missouri and Kansas. The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “SFNC”.

Conference Call

Management will conduct a conference call to review this information beginning at 3:00 p.m. Central Time on Thursday, July 18, 2013. Interested persons can listen to this call by dialing toll-free 1-888-510-1765 (United States and Canada only) and asking for the Simmons First National Corporation conference call, conference ID 6573031. In addition, the call will be available live or in recorded version on the Company’s website at www.simmonsfirst.com.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or nonrecurring transactions. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Forward Looking Statements

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:

DAVID W. GARNER

Senior Vice President and Investor Relations Officer

Simmons First National Corporation

(870) 541-1000

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
(Unaudited)	2013			2013			2012			2012			2012
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	38,494		$	40,006		$	47,470		$	40,356		$	29,708
Interest bearing balances due from banks		420,740			602,992			467,984			440,524			515,874
Federal funds sold		-			-			22,343			7,571			-
Cash and cash equivalents		459,234			642,998			537,797			488,451			545,582
Investment securities - held-to-maturity		555,464			488,513			496,141			510,630			525,522
Investment securities - available-for-sale		177,531			192,165			191,342			205,051			166,966
Mortgage loans held for sale		14,454			19,100			25,367			23,980			15,495
Assets held in trading accounts		8,739			8,368			6,224			7,002			7,812
Loans:
Loans		1,650,395			1,589,077			1,628,513			1,623,401			1,614,736
Allowance for loan losses		(27,398	)		(27,735	)		(27,882	)		(28,145	)		(28,397	)
Loans acquired, not covered by FDIC loss share
(net of discount)		63,500			78,745			82,764			73,023			-
Loans acquired, covered by FDIC loss share (net of discount)		163,736			181,537			210,842			163,657			114,189
Net loans		1,850,233			1,821,624			1,894,237			1,831,936			1,700,528
FDIC indemnification asset		67,744			71,002			75,286			59,547			35,038
Premises and equipment		88,164			87,934			87,557			85,969			85,171
Foreclosed assets not covered by FDIC loss share		30,390			30,714			33,352			29,665			23,947
Foreclosed assets covered by FDIC loss share		22,990			28,003			27,620			26,466			11,252
Interest receivable		12,637			13,027			14,530			15,253			12,975
Bank owned life insurance		59,710			59,344			52,066			51,681			51,326
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,487			3,624			3,760			2,549			1,431
Other assets		10,387			16,540			21,605			16,195			13,494
Total assets	$	3,421,769		$	3,543,561		$	3,527,489		$	3,414,980		$	3,257,144
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	565,433		$	592,442		$	576,655		$	543,380		$	517,854
Interest bearing transaction accounts and savings deposits		1,428,422			1,456,005			1,421,137			1,343,784			1,290,954
Time deposits less than $100,000		467,778			482,688			505,773			521,259			467,503
Time deposits greater than $100,000		351,486			361,529			370,598			386,872			352,973
Total deposits		2,813,119			2,892,664			2,874,163			2,795,295			2,629,284
Federal funds purchased and securities sold
under agreements to repurchase		79,063			108,227			104,078			64,829			70,220
Other borrowings		77,659			81,646			89,441			88,852			90,866
Subordinated debentures		20,620			20,620			20,620			20,620			30,930
Accrued interest and other liabilities		29,458			33,950			33,125			41,136			28,431
Total liabilities		3,019,919			3,137,107			3,121,427			3,010,732			2,849,731
Stockholders' equity:
Common stock		163			165			165			167			170
Surplus		89,434			94,723			96,587			99,156			105,825
Undivided profits		314,663			311,521			309,053			304,343			300,917
Accumulated other comprehensive income
Unrealized appreciation on AFS securities		(2,410	)		45			257			582			501
Total stockholders' equity		401,850			406,454			406,062			404,248			407,413
Total liabilities and stockholders' equity	$	3,421,769		$	3,543,561		$	3,527,489		$	3,414,980		$	3,257,144

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
(Unaudited)	2013			2013			2012			2012			2012
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	41,030		$	42,334		$	43,691		$	36,603		$	35,899
Interest bearing balances due from banks		527,787			560,759			490,532			479,435			550,512
Federal funds sold		1,922			8,487			8,931			2,850			363
Cash and cash equivalents		570,739			611,580			543,154			518,888			586,774
Investment securities - held-to-maturity		511,008			497,152			511,203			496,102			508,293
Investment securities - available-for-sale		182,227			191,981			194,815			178,247			172,539
Mortgage loans held for sale		14,154			19,442			17,804			19,334			17,623
Assets held in trading accounts		8,292			8,525			7,701			7,780			7,831
Loans:
Loans		1,616,036			1,588,299			1,633,710			1,637,437			1,579,166
Allowance for loan losses		(28,219	)		(27,999	)		(28,660	)		(29,228	)		(29,339	)
Loans acquired, not covered by FDIC loss share
(net of discount)		72,663			80,755			82,764			12,700			-
Loans acquired, covered by FDIC loss share (net of discount)		172,415			196,190			218,135			117,809			120,695
Net loans		1,832,895			1,837,245			1,905,949			1,738,718			1,670,522
FDIC indemnification asset		70,442			74,205			66,994			39,476			38,563
Premises and equipment		88,210			87,571			87,784			85,173			85,629
Foreclosed assets not covered by FDIC loss share		29,399			32,102			34,883			24,945			24,322
Foreclosed assets covered by FDIC loss share		25,603			27,812			29,779			14,521			12,079
Interest receivable		12,524			13,370			15,154			13,484			12,877
Bank owned life insurance		59,523			52,706			51,864			51,507			51,133
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,554			3,693			2,955			1,614			1,467
Other assets		13,435			20,827			3,574			14,991			15,114
Total assets	$	3,482,610		$	3,538,816		$	3,534,218		$	3,265,385		$	3,265,371
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	560,804		$	567,588		$	570,800		$	504,923		$	502,884
Interest bearing transaction accounts and savings deposits		1,456,258			1,446,533			1,405,956			1,291,141			1,282,616
Time deposits less than $100,000		475,428			494,196			523,050			477,275			477,588
Time deposits greater than $100,000		359,155			364,496			380,843			361,504			360,233
Total deposits		2,851,645			2,872,813			2,880,649			2,634,843			2,623,321
Federal funds purchased and securities sold
under agreements to repurchase		89,879			118,131			101,815			72,381			82,738
Other borrowings		80,090			83,872			89,617			90,307			89,606
Subordinated debentures		20,620			20,620			20,620			30,594			30,930
Accrued interest and other liabilities		32,146			34,486			33,227			30,219			29,077
Total liabilities		3,074,380			3,129,922			3,125,928			2,858,344			2,855,672
Total stockholders' equity		408,230			408,894			408,290			407,041			409,699
Total liabilities and stockholders' equity	$	3,482,610		$	3,538,816		$	3,534,218		$	3,265,385		$	3,265,371

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
(Unaudited)	2013			2013			2012			2012			2012
(in thousands, except per share data)
INTEREST INCOME
Loans not covered by loss share	$	22,602		$	23,696		$	23,912		$	23,192		$	22,358
Loans covered by FDIC loss share		6,469			6,175			6,759			5,041			4,994
Federal funds sold		5			3			4			2			1
Investment securities		3,019			2,902			3,106			3,027			3,313
Mortgage loans held for sale		118			155			149			171			164
Assets held in trading accounts		6			11			11			12			13
Interest bearing balances due from banks		352			290			301			267			349
TOTAL INTEREST INCOME		32,571			33,232			34,242			31,712			31,192
INTEREST EXPENSE
Time deposits		1,479			1,588			1,807			1,863			2,004
Other deposits		603			611			652			658			676
Federal funds purchased and securities
sold under agreements to repurchase		53			65			65			69			77
Other borrowings		692			734			948			792			799
Subordinated debentures		162			159			163			389			385
TOTAL INTEREST EXPENSE		2,989			3,157			3,635			3,771			3,941
NET INTEREST INCOME		29,582			30,075			30,607			27,941			27,251
Provision for loan losses		1,034			919			1,295			1,299			775
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		28,548			29,156			29,312			26,642			26,476
NON-INTEREST INCOME
Trust income		1,342			1,444			1,484			1,440			1,240
Service charges on deposit accounts		4,474			4,241			4,645			4,368			3,930
Other service charges and fees		791			775			747			684			738
Mortgage lending income		1,338			1,216			1,553			1,705			1,445
Investment banking income		696			454			337			560			442
Credit card fees		4,341			4,039			4,655			4,104			4,207
Bank owned life insurance income		366			278			385			355			368
Gain on sale of securities, net		(193	)		-			2			-			-
Gain on FDIC-assisted transactions		-			-			2,291			1,120			-
Net (loss) gain on assets covered by FDIC loss share agreements		(2,615	)		(2,142	)		(2,286	)		(2,689	)		(2,153	)
Other income		733			1,008			930			165			876
TOTAL NON-INTEREST INCOME		11,273			11,313			14,743			11,812			11,093
NON-INTEREST EXPENSE
Salaries and employee benefits		17,937			18,507			17,674			15,911			16,590
Occupancy expense, net		2,450			2,555			2,311			2,182			2,029
Furniture and equipment expense		2,030			1,723			1,835			1,835			1,608
Other real estate and foreclosure expense		59			331			311			280			194
Deposit insurance		492			775			614			444			457
Merger related costs		(467	)		240			1,081			815			-
Other operating expenses		7,818			7,781			8,340			7,219			7,366
TOTAL NON-INTEREST EXPENSE		30,319			31,912			32,166			28,686			28,244
NET INCOME BEFORE INCOME TAXES		9,502			8,557			11,889			9,768			9,325
Provision for income taxes		2,926			2,620			3,856			3,008			2,789
NET INCOME	$	6,576		$	5,937		$	8,033		$	6,760		$	6,536
BASIC EARNINGS PER SHARE	$	0.40		$	0.36		$	0.48		$	0.41		$	0.38
DILUTED EARNINGS PER SHARE	$	0.40		$	0.36		$	0.48		$	0.41		$	0.38

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
(Unaudited)	2013			2013			2012			2012			2012
(in thousands, except per share data)
INTEREST INCOME
Loans not covered by loss share	$	46,298		$	23,696		$	91,734		$	67,822		$	44,630
Loans covered by FDIC loss share		12,644			6,175			22,767			16,009			10,967
Federal funds sold		8			3			7			4			1
Investment securities		5,921			2,902			12,721			9,615			6,588
Mortgage loans held for sale		273			155			637			487			317
Assets held in trading accounts		17			11			48			37			25
Interest bearing balances due from banks		642			290			1,220			919			652
TOTAL INTEREST INCOME		65,803			33,232			129,134			94,893			63,180
INTEREST EXPENSE
Time deposits		3,067			1,588			7,943			6,136			4,273
Other deposits		1,214			611			2,682			2,029			1,372
Federal funds purchased and securities
sold under agreements to repurchase		118			65			310			248			176
Other borrowings		1,426			734			3,354			2,406			1,613
Subordinated debentures		321			159			1,328			1,166			777
TOTAL INTEREST EXPENSE		6,146			3,157			15,617			11,985			8,211
NET INTEREST INCOME		59,657			30,075			113,517			82,908			54,969
Provision for loan losses		1,953			919			4,140			2,846			1,546
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		57,704			29,156			109,377			80,062			53,423
NON-INTEREST INCOME
Trust income		2,786			1,444			5,473			3,988			2,549
Service charges on deposit accounts		8,715			4,241			16,808			12,163			7,795
Other service charges and fees		1,566			775			2,961			2,211			1,530
Mortgage lending income		2,554			1,216			5,997			4,441			2,739
Investment banking income		1,150			454			2,038			1,700			1,141
Credit card fees		8,380			4,039			17,045			12,390			8,286
Bank owned life insurance income		644			278			1,463			1,078			723
Gain on sale of securities, net		(193	)		-			2			-			-
Gain on FDIC-assisted transactions		-			-			3,411			1,120			-
Net (loss) gain on assets covered by FDIC loss share agreements		(4,757	)		(2,142	)		(9,793	)		(7,507	)		(4,818	)
Other income		1,741			1,008			2,966			2,037			1,871
TOTAL NON-INTEREST INCOME		22,586			11,313			48,371			33,621			21,816
NON-INTEREST EXPENSE
Salaries and employee benefits		36,444			18,507			66,999			49,323			33,414
Occupancy expense, net		5,005			2,555			8,603			6,291			4,110
Furniture and equipment expense		3,753			1,723			6,882			5,047			3,212
Other real estate and foreclosure expense		390			331			992			681			401
Deposit insurance		1,267			775			2,086			1,472			1,028
Merger related costs		(227	)		240			1,896			815			-
Other operating expenses		15,599			7,781			30,275			21,928			14,716
TOTAL NON-INTEREST EXPENSE		62,231			31,912			117,733			85,557			56,881
NET INCOME BEFORE INCOME TAXES		18,059			8,557			40,015			28,126			18,358
Provision for income taxes		5,546			2,620			12,331			8,475			5,467
NET INCOME	$	12,513		$	5,937		$	27,684		$	19,651		$	12,891
BASIC EARNINGS PER SHARE	$	0.76		$	0.36		$	1.64		$	1.16		$	0.75
DILUTED EARNINGS PER SHARE	$	0.76		$	0.36		$	1.64		$	1.16		$	0.75

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2013			2013			2012			2012			2012
(in thousands)
Tier 1 capital
Stockholders' equity	$	401,850		$	406,454		$	406,062		$	404,248		$	407,413
Trust preferred securities, net allowable		20,000			20,000			20,000			20,000			30,000
Disallowed intangible assets, net of deferred tax		(48,091	)		(48,529	)		(48,966	)		(48,053	)		(47,235	)
Unrealized gain on AFS securities		2,410			(45	)		(257	)		(582	)		(501	)
Total Tier 1 capital		376,169			377,880			376,839			375,613			389,677
Tier 2 capital
Qualifying unrealized gain on AFS equity securities		35			28			19			14			15
Qualifying allowance for loan losses		24,818			24,129			24,743			24,395			22,910
Total Tier 2 capital		24,853			24,157			24,762			24,409			22,925
Total risk-based capital	$	401,022		$	402,037		$	401,601		$	400,022		$	412,602
Risk weighted assets	$	1,981,341		$	1,925,199		$	1,974,800		$	1,946,344		$	1,825,808
Adjusted average assets for leverage ratio	$	3,434,844		$	3,490,102		$	3,484,504		$	3,216,488		$	3,217,291
Ratios at end of quarter
Equity to assets		11.74	%		11.47	%		11.51	%		11.84	%		12.51	%
Tangible common equity to tangible assets		10.06	%		9.84	%		9.87	%		10.18	%		10.81	%
Tier 1 leverage ratio		10.95	%		10.83	%		10.81	%		11.68	%		12.11	%
Tier 1 risk-based capital ratio		18.99	%		19.63	%		19.08	%		19.30	%		21.34	%
Total risk-based capital ratio		20.24	%		20.88	%		20.34	%		20.55	%		22.60	%

Simmons First National Corporation									SFNC
Consolidated Loans and Investments
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2013		2013		2012		2012		2012
(in thousands)
Legacy Loan Portfolio - End of Period (1)
Consumer
Credit cards	$	173,536	$	171,599	$	185,536	$	175,760	$	176,325
Student loans		30,106		31,835		34,145		36,441		39,823
Other consumer		103,765		102,297		105,319		107,604		107,284
Total consumer		307,407		305,731		325,000		319,805		323,432
Real Estate
Construction		142,902		136,099		138,132		128,423		117,235
Single-family residential		364,239		355,479		356,907		355,976		355,978
Other commercial		572,110		569,686		568,166		546,224		550,418
Total real estate		1,079,251		1,061,264		1,063,205		1,030,623		1,023,631
Commercial
Commercial		152,122		150,427		141,336		138,719		140,868
Agricultural		107,113		68,028		93,805		130,727		122,245
Total commercial		259,235		218,455		235,141		269,446		263,113
Other		4,502		3,627		5,167		3,527		4,560
Total Loans	$	1,650,395	$	1,589,077	$	1,628,513	$	1,623,401	$	1,614,736
(1) Excludes all acquired loans, including those covered by FDIC loss share agreements.
Investment Securities - End of Period
Held-to-Maturity
U.S. Treasury	$	-	$	-	$	-	$	-	$	-
U.S. Government agencies		313,050		288,480		288,098		303,640		315,493
Mortgage-backed securities		43		45		49		51		56
State and political subdivisions		241,751		199,368		207,374		206,319		209,043
Other securities		620		620		620		620		930
Total held-to-maturity		555,464		488,513		496,141		510,630		525,522
Available-for-Sale
U.S. Government agencies		159,390		159,846		152,481		164,467		148,837
Mortgage-backed securities		2,078		15,891		20,634		24,333		2,493
State and political subdivisions		1,262		1,417		2,988		-		-
FHLB stock		5,353		5,325		5,498		5,788		5,578
Other securities		9,448		9,686		9,741		10,463		10,058
Total available-for-sale		177,531		192,165		191,342		205,051		166,966
Total investment securities	$	732,995	$	680,678	$	687,483	$	715,681	$	692,488
Fair value - HTM investment securities	$	543,154	$	491,556	$	500,578	$	516,419	$	531,499
Investment Securities - QTD Average
Taxable securities	$	478,946	$	485,711	$	495,917	$	467,988	$	471,826
Tax exempt securities		214,289		203,422		210,101		206,361		209,006
Total investment securities - QTD average	$	693,235	$	689,133	$	706,018	$	674,349	$	680,832

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2013			2013			2012			2012			2012
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	27,735		$	27,882		$	28,145		$	28,397		$	28,325
Loans charged off
Credit cards		743			909			884			806			829
Other consumer		310			374			362			358			252
Real estate		887			239			705			773			78
Commercial		133			96			163			86			165
Total loans charged off		2,073			1,618			2,114			2,023			1,324
Recoveries of loans previously charged off
Credit cards		204			236			194			242			212
Other consumer		116			195			177			107			135
Real estate		295			68			144			61			248
Commercial		87			53			41			62			26
Total recoveries		702			552			556			472			621
Net loans charged off		1,371			1,066			1,558			1,551			703
Provision for loan losses		1,034			919			1,295			1,299			775
Balance, end of quarter	$	27,398		$	27,735		$	27,882		$	28,145		$	28,397
Non-performing assets (1) (2)
Non-performing loans
Nonaccrual loans
Real estate	$	4,305		$	6,963		$	7,135		$	6,197		$	6,851
Commercial		526			602			618			894			676
Consumer		1,410			1,203			1,370			1,389			1,462
Total nonaccrual loans		6,241			8,768			9,123			8,480			8,989
Loans past due 90 days or more
Government guaranteed student loans		2,254			2,283			2,234			2,324			3,275
Other loans		879			661			681			1,001			509
Total loans past due 90 days or more		3,133			2,944			2,915			3,325			3,784
Total non-performing loans		9,374			11,712			12,038			11,805			12,773
Other non-performing assets
Foreclosed assets held for sale		21,804			21,253			21,556			23,126			23,947
Acquired foreclosed assets held for sale, not covered
by FDIC loss share agreements		8,586			9,461			11,796			6,539
Other non-performing assets		80			238			221			60			-
Total other non-performing assets		30,470			30,952			33,573			29,725			23,947
Total non-performing assets	$	39,844		$	42,664		$	45,611		$	41,530		$	36,720
Performing TDRs (troubled debt restructurings)	$	10,473		$	10,745		$	11,015		$	10,995		$	11,492
Ratios (1) (2)
Allowance for loan losses to total loans		1.66	%		1.75	%		1.71	%		1.73	%		1.76	%
Allowance for loan losses to non-performing loans		292	%		237	%		232	%		238	%		222	%
Non-performing loans to total loans		0.57	%		0.74	%		0.74	%		0.73	%		0.79	%
Non-performing assets (including performing TDRs)
to total assets		1.47	%		1.51	%		1.61	%		1.54	%		1.48	%
Non-performing assets to total assets		1.16	%		1.20	%		1.29	%		1.22	%		1.13	%
Non-performing assets to total assets
(excluding Gov't guaranteed student loans)		1.10	%		1.14	%		1.23	%		1.15	%		1.03	%
Annualized net charge offs to total loans		0.34	%		0.27	%		0.38	%		0.38	%		0.18	%
Annualized net credit card charge offs to
total credit card loans		1.25	%		1.53	%		1.54	%		1.27	%		1.42	%
Annualized net charge offs to total loans
(excluding credit cards)		0.23	%		0.11	%		0.24	%		0.27	%		0.02	%
Past due loans >30 days (excluding nonaccrual)		0.54	%		0.64	%		0.63	%		0.75	%		0.68	%
Past due loans >30 days (excluding nonaccrual)
(excluding Gov't guaranteed student loans)		0.35	%		0.40	%		0.44	%		0.48	%		0.42	%

(1) Excludes all acquired loans, including those covered by FDIC loss share agreements, except for their inclusion in total assets.

(2) Excludes acquired foreclosed assets covered by FDIC loss share agreements, except for their inclusion in total assets.

Simmons First National Corporation													SFNC
Consolidated - Net Interest Income Analysis
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2013			2013			2012			2012			2012
ASSETS
Earning Assets
Interest bearing balances due from banks		0.27	%		0.21	%		0.24	%		0.22	%		0.25	%
Investment securities		2.37	%		2.33	%		2.39	%		2.46	%		2.66	%
Mortgage loans held for sale		3.34	%		3.23	%		3.33	%		3.52	%		3.74	%
Assets held in trading accounts		0.29	%		0.52	%		0.57	%		0.61	%		0.67	%
Loans, including covered loans*		6.27	%		6.50	%		6.31	%		6.36	%		6.47	%
Total interest earning assets		4.35	%		4.41	%		4.45	%		4.45	%		4.41	%
LIABILITIES
Interest bearing liabilities
Interest bearing transaction and
savings accounts		0.17	%		0.17	%		0.18	%		0.20	%		0.21	%
Time deposits		0.71	%		0.75	%		0.80	%		0.88	%		0.96	%
Total interest bearing deposits		0.36	%		0.39	%		0.42	%		0.47	%		0.51	%
Federal funds purchased and securities
sold under agreement to repurchase		0.24	%		0.22	%		0.25	%		0.38	%		0.37	%
Other borrowings		3.47	%		3.55	%		4.21	%		3.49	%		3.59	%
Subordinated debentures		3.15	%		3.13	%		3.14	%		5.06	%		5.01	%
Total interest bearing liabilities		0.48	%		0.51	%		0.57	%		0.65	%		0.68	%
NET INTEREST MARGIN/SPREAD
Net interest spread		3.87	%		3.90	%		3.88	%		3.80	%		3.73	%
Net interest margin - quarter-to-date		3.96	%		4.01	%		3.99	%		3.94	%		3.87	%
Net interest margin - year-to-date		3.98	%		4.01	%		3.93	%		3.91	%		3.90	%

* Covered loans are loans covered by FDIC loss share agreements.

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2013			2013			2012			2012			2012
($ in thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.40		$	0.36		$	0.48		$	0.41		$	0.38
Core earnings (excludes nonrecurring items) (non-GAAP)		6,409			6,083			7,404			6,575			6,536
Diluted core earnings per share (non-GAAP)		0.39			0.37			0.44			0.40			0.38
Cash dividends declared per common share		0.21			0.21			0.20			0.20			0.20
Cash dividends declared - amount		3,434			3,469			3,323			3,334			3,395
Return on average stockholders' equity		6.46	%		5.89	%		7.83	%		6.61	%		6.42	%
Return on tangible equity		7.76	%		7.09	%		9.36	%		7.85	%		7.61	%
Return on average assets		0.76	%		0.68	%		0.90	%		0.82	%		0.81	%
Net interest margin (FTE)		3.96	%		4.01	%		3.99	%		3.94	%		3.87	%
FTE adjustment - investments		1,083			1,062			1,134			1,138			1,196
FTE adjustment - loans		12			11			11			11			12
Amortization of intangibles		137			137			126			74			74
Amortization of intangibles, net of taxes		83			83			77			45			45
Average shares outstanding		16,414,893			16,516,438			16,624,637			16,756,589			17,044,160
Average earning assets		3,106,504			3,151,590			3,165,595			2,938,994			2,957,022
Average interest bearing liabilities		2,481,430			2,527,848			2,521,901			2,323,202			2,323,711
YEAR-TO-DATE
Diluted earnings per share	$	0.76		$	0.36		$	1.64		$	1.16		$	0.75
Core earnings (excludes nonrecurring items) (non-GAAP)		12,492			6,083			26,870			19,466			12,891
Diluted core earnings per share (non-GAAP)		0.76			0.37			1.59			1.15			0.75
Cash dividends declared per common share		0.42			0.21			0.80			0.60			0.40
Cash dividends declared - amount		6,903			3,469			13,496			10,173			6,839
Return on average stockholders' equity		6.18	%		5.89	%		6.77	%		6.41	%		6.31	%
Return on tangible equity		7.43	%		7.09	%		8.05	%		7.61	%		7.49	%
Return on average assets		0.72	%		0.68	%		0.83	%		0.80	%		0.79	%
Net interest margin (FTE)		3.98	%		4.01	%		3.93	%		3.91	%		3.90	%
FTE adjustment - investments		2,145			1,062			4,660			3,526			2,388
FTE adjustment - loans		23			11			45			34			23
Amortization of intangibles		274			137			348			222			148
Amortization of intangibles, net of taxes		166			83			212			135			90
Average shares outstanding		16,465,385			16,516,438			16,908,904			17,004,351			17,129,593
Average diluted shares outstanding		16,468,814			16,520,398			16,911,363			17,007,623			17,134,232
Average earning assets		3,129,048			3,151,590			3,008,840			2,952,324			2,959,034
Average interest bearing liabilities		2,503,992			2,527,848			2,378,748			2,331,032			2,334,948
END OF PERIOD
Book value per share	$	24.67		$	24.62		$	24.55		$	24.26		$	24.03
Tangible book value per share		20.74			20.73			20.66			20.47			20.37
Shares outstanding		16,289,239			16,509,666			16,542,778			16,660,278			16,956,991
Full-time equivalent employees		1,114			1,112			1,068			1,073			1,074
Total number of ATM's		110			110			110			106			102
Total number of financial centers		92			92			92			88			84
Parent company only - investment in subsidiaries		369,965			370,728			368,847			387,944			386,441
Parent company only - intangible assets		133			133			133			133			133

Simmons First National Corporation													SFNC
Consolidated - Reconciliation of Core Earnings (non-GAAP)
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2013			2013			2012			2012			2012
(in thousands, except per share data)
QUARTER-TO-DATE
Net Income	$	6,576		$	5,937		$	8,033		$	6,760		$	6,536
Nonrecurring items
Gain on FDIC assisted transactions		-			-			(2,291	)		(1,120	)		-
Merger related costs		(467	)		240			1,081			815			-
Loss on sale of securities		193			-			-			-			-
FHLB prepayment penalties		-			-			175			-			-
Tax effect		107			(94	)		406			120			-
Net nonrecurring items		(167	)		146			(629	)		(185	)		-
Core earnings (non-GAAP)	$	6,409		$	6,083		$	7,404		$	6,575		$	6,536
Diluted earnings per share	$	0.40		$	0.36		$	0.48		$	0.41		$	0.38
Nonrecurring items
Gain on FDIC assisted transactions		-			-			(0.14	)		(0.07	)		-
Merger related costs		(0.03	)		0.01			0.07			0.05			-
Loss on sale of securities		0.01			-			-			-			-
FHLB prepayment penalties		-			-			0.01			-			-
Tax effect		0.01			-			0.02			0.01			-
Net nonrecurring items		(0.01	)		0.01			(0.04	)		(0.01	)		-
Diluted core earnings per share (non-GAAP)	$	0.39		$	0.37		$	0.44		$	0.40		$	0.38
YEAR-TO-DATE
Net Income	$	12,513		$	5,937		$	27,684		$	19,651		$	12,891
Nonrecurring items
Gain on FDIC assisted transactions		-			-			(3,411	)		(1,120	)		-
Merger related costs		(227	)		240			1,896			815			-
Loss on sale of securities		193			-			-			-			-
FHLB prepayment penalties		-			-			175			-			-
Tax effect		13			(94	)		526			120			-
Net nonrecurring items		(21	)		146			(814	)		(185	)		-
Core earnings (non-GAAP)	$	12,492		$	6,083		$	26,870		$	19,466		$	12,891
Diluted earnings per share	$	0.76		$	0.36		$	1.64		$	1.16		$	0.75
Nonrecurring items
Gain on FDIC assisted transactions		-			-			(0.21	)		(0.07	)		-
Merger related costs		(0.02	)		0.01			0.12			0.05			-
Loss on sale of securities		0.01			-			-			-			-
FHLB prepayment penalties		-			-			0.01			-			-
Tax effect		0.01			-			0.03			0.01			-
Net nonrecurring items		-			0.01			(0.05	)		(0.01	)		-
Diluted core earnings per share (non-GAAP)	$	0.76		$	0.37		$	1.59		$	1.15		$	0.75