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

Exhibit 99.1

FOR IMMEDIATE RELEASE: October 17, 2013

SIMMONS FIRST ANNOUNCES THIRD QUARTER EARNINGS

Pine Bluff, AR – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced 2013 third quarter core net income of $7.4 million, an increase of $796,000, or 12.1%, compared to the same quarter last year. Diluted core earnings per share were $0.45, a $0.05, or 12.5%, increase. Core earnings exclude $439,000 in after-tax non-interest expenses related to merger costs and branch right sizing initiatives.  Including the non-core expenses, net income was $6.9 million and diluted earnings per share were $0.43, an increase of $0.03, or 4.9%, compared to the same quarter last year. Year-to-date net income was $19.4 million, or $1.19 diluted earnings per share, an increase of $0.03 from the same period last year.

 “We are pleased with the core earnings results for the third-quarter. As a result of recent acquisitions and efficiency initiatives, we have and will continue to recognize one-time revenue and expense items which may skew our short-term core business results but provide long-term performance benefits. Our focus continues to be improvement in core operating income,” commented George A. Makris, Jr., CEO-Elect.

Loans

Total loans, including those acquired, were $2.0 billion at September 30, 2013, an increase of $98.1 million, or 5.3%, compared to the same period in 2012.  Legacy loans (all loans excluding acquired loans) grew $117.8 million, or 7.3%, and acquired loans declined by $19.7 million. “We have had nice loan growth this year, particularly from the new lenders we have attracted in our targeted growth markets. Their production has exceeded our expectations through the third quarter,” added Makris.

Deposits

At September 30, 2013, total deposits were $2.8 billion, an increase of $43.5 million, or 1.6%, compared to the same period in 2012. Total non-time deposits were $2.0 billion, or 72% of total deposits.

Net Interest Income

The Company’s net interest income for the third quarter of 2013 was $31.6 million, an increase of $3.6 million, or 13.0%, from the same period of 2012. Net interest margin was 4.27% for the quarter ended September 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 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						Nine Months Ended
(In thousands)	September 30						September 30
	2013			2012			2013			2012
Impact on net interest income	$	4,005		$	2,915		$	10,102		$	9,104
Non-interest income		(3,844	)		(2,729	)		(9,734	)		(8,245	)
Net impact to pre-tax income	$	161		$	186		$	368		$	859

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 $36.3 million and the remaining adjustment to the indemnification assets that will reduce non-interest income is $27.3 million. Of the remaining adjustments, we expect to recognize $8.1 million of interest income and a $7.4 million reduction of non-interest income during the remainder of 2013, resulting in a $0.7 million positive 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 third quarter was $10.3 million, a decrease of $1.5 million, compared to the third quarter of 2012. The reduction in non-interest income was primarily due to the inclusion in the third quarter of 2012 a $1.1 million bargain purchase gain on the Company’s FDIC-assisted acquisition of Truman Bank in St. Louis.

Non-Interest Expense

Non-interest expense for the third quarter of 2013 was $30.9 million, an increase of $2.2 million compared to the same period in 2012. “Included in the quarter were $1.7 million in incremental normal operating expenses attributable to our 2012 FDIC-assisted acquisitions and $190,000 in legal and advisory fees related to our announced acquisition of Metropolitan National Bank. We closed five underperforming branches during the quarter, incurring one-time costs of $533,000. Excluding these acquisition related costs and the nonrecurring branch right sizing expenses, non-interest expense for the quarter increased by only 2.2%. Expense control remains a focus as we continue to search for additional efficiency opportunities,” 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 September 30, 2013, acquired loans covered by loss share were carried at $149 million, OREO covered by loss share was carried at $23 million and the FDIC loss share indemnification asset was carried at $62 million. Acquired loans and OREO not covered by loss share were carried at $68 million and $6 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 $27.5 million at September 30, 2013, or 1.58% of total loans and 285% of non-performing loans. Non-performing loans as a percent of total loans were 0.56% as of September 30, 2013. During the quarter, non-performing assets decreased by 9.9% to $35.9 million. For the third quarter, the annualized net charge-off ratio, excluding credit cards, was 0.11%, and the annualized credit card charge-off ratio was 1.21%.

Capital

At September 30, 2013, stockholders' equity was $403 million, book value per share was $24.88 and tangible book value per share was $20.80. The Company's ratio of stockholders' equity to total assets was 11.7% and its ratio of tangible common equity to tangible assets was 10.0%, as of September 30, 2013.

Stock Repurchase Program

Through the third quarter of 2013, the Company has repurchased approximately 420,000 shares at an average price of $25.89. During the third quarter, the Company suspended 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 91 offices, of which 87 are financial centers, in 54 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, October 17, 2013. Interested persons can listen to this call by dialing toll-free 1-888-481-2877 (United States and Canada only) and asking for the Simmons First National Corporation conference call, conference ID 7056590. 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 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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	37,752		$	38,494		$	40,006		$	47,470		$	40,356
Interest bearing balances due from banks		320,368			420,740			602,992			467,984			440,524
Federal funds sold		18,365			-			-			22,343			7,571
Cash and cash equivalents		376,485			459,234			642,998			537,797			488,451
Investment securities - held-to-maturity		581,768			555,464			488,513			496,141			510,630
Investment securities - available-for-sale		179,937			177,531			192,165			191,342			205,051
Mortgage loans held for sale		10,605			14,454			19,100			25,367			23,980
Assets held in trading accounts		8,744			8,739			8,368			6,224			7,002
Loans:
Loans		1,741,161			1,650,395			1,589,077			1,628,513			1,623,401
Allowance for loan losses		(27,533	)		(27,398	)		(27,735	)		(27,882	)		(28,145	)
Loans acquired, not covered by FDIC loss share
(net of discount)		68,133			63,500			78,745			82,764			73,023
Loans acquired, covered by FDIC loss share (net of discount)		148,884			163,736			181,537			210,842			163,657
Net loans		1,930,645			1,850,233			1,821,624			1,894,237			1,831,936
FDIC indemnification asset		61,500			67,744			71,002			75,286			59,547
Premises and equipment		87,065			88,164			87,934			87,557			85,969
Foreclosed assets not covered by FDIC loss share		26,203			30,390			30,714			33,352			29,665
Foreclosed assets covered by FDIC loss share		23,260			22,990			28,003			27,620			26,466
Interest receivable		15,635			12,637			13,027			14,530			15,253
Bank owned life insurance		60,040			59,710			59,344			52,066			51,681
Goodwill		60,605			60,605			60,605			60,605			60,605
Other intangible assets		5,420			3,487			3,624			3,760			2,549
Other assets		13,797			10,387			16,540			21,605			16,195
Total assets	$	3,441,709		$	3,421,769		$	3,543,561		$	3,527,489		$	3,414,980
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	580,063		$	565,433		$	592,442		$	576,655		$	543,380
Interest bearing transaction accounts and savings deposits		1,453,139			1,428,422			1,456,005			1,421,137			1,343,784
Time deposits less than $100,000		454,325			467,778			482,688			505,773			521,259
Time deposits greater than $100,000		351,271			351,486			361,529			370,598			386,872
Total deposits		2,838,798			2,813,119			2,892,664			2,874,163			2,795,295
Federal funds purchased and securities sold
under agreements to repurchase		62,311			79,063			108,227			104,078			64,829
Other borrowings		75,987			77,659			81,646			89,441			88,852
Subordinated debentures		20,620			20,620			20,620			20,620			20,620
Accrued interest and other liabilities		40,959			29,458			33,950			33,125			41,136
Total liabilities		3,038,675			3,019,919			3,137,107			3,121,427			3,010,732
Stockholders' equity:
Common stock		162			163			165			165			167
Surplus		87,279			89,434			94,723			96,587			99,156
Undivided profits		318,194			314,663			311,521			309,053			304,343
Accumulated other comprehensive income
Unrealized appreciation on AFS securities		(2,601	)		(2,410	)		45			257			582
Total stockholders' equity		403,034			401,850			406,454			406,062			404,248
Total liabilities and stockholders' equity	$	3,441,709		$	3,421,769		$	3,543,561		$	3,527,489		$	3,414,980

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	39,067		$	41,030		$	42,334		$	43,691		$	36,603
Interest bearing balances due from banks		365,504			527,787			560,759			490,532			479,435
Federal funds sold		3,719			1,922			8,487			8,931			2,850
Cash and cash equivalents		408,290			570,739			611,580			543,154			518,888
Investment securities - held-to-maturity		567,579			511,008			497,152			511,203			496,102
Investment securities - available-for-sale		178,351			182,227			191,981			194,815			178,247
Mortgage loans held for sale		12,171			14,154			19,442			17,804			19,334
Assets held in trading accounts		8,731			8,292			8,525			7,701			7,780
Loans:
Loans		1,705,204			1,616,036			1,588,299			1,633,710			1,637,437
Allowance for loan losses		(27,735	)		(28,219	)		(27,999	)		(28,660	)		(29,228	)
Loans acquired, not covered by FDIC loss share
(net of discount)		61,372			72,663			80,755			82,764			12,700
Loans acquired, covered by FDIC loss share (net of discount)		156,392			172,415			196,190			218,135			117,809
Net loans		1,895,233			1,832,895			1,837,245			1,905,949			1,738,718
FDIC indemnification asset		65,478			70,442			74,205			66,994			39,476
Premises and equipment		88,044			88,210			87,571			87,784			85,173
Foreclosed assets not covered by FDIC loss share		27,368			29,399			32,102			34,883			24,945
Foreclosed assets covered by FDIC loss share		22,392			25,603			27,812			29,779			14,521
Interest receivable		13,739			12,524			13,370			15,154			13,484
Bank owned life insurance		59,878			59,523			52,706			51,864			51,507
Goodwill		60,605			60,605			60,605			60,605			60,605
Other intangible assets		3,439			3,554			3,693			2,955			1,614
Other assets		12,122			13,435			20,827			3,574			14,991
Total assets	$	3,423,420		$	3,482,610		$	3,538,816		$	3,534,218		$	3,265,385
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	559,461		$	560,804		$	567,588		$	570,800		$	504,923
Interest bearing transaction accounts and savings deposits		1,444,058			1,456,258			1,446,533			1,405,956			1,291,141
Time deposits less than $100,000		461,101			475,428			494,196			523,050			477,275
Time deposits greater than $100,000		358,307			359,155			364,496			380,843			361,504
Total deposits		2,822,927			2,851,645			2,872,813			2,880,649			2,634,843
Federal funds purchased and securities sold
under agreements to repurchase		67,924			89,879			118,131			101,815			72,381
Other borrowings		75,704			80,090			83,872			89,617			90,307
Subordinated debentures		20,620			20,620			20,620			20,620			30,594
Accrued interest and other liabilities		31,867			32,146			34,486			33,227			30,219
Total liabilities		3,019,042			3,074,380			3,129,922			3,125,928			2,858,344
Total stockholders' equity		404,378			408,230			408,894			408,290			407,041
Total liabilities and stockholders' equity	$	3,423,420		$	3,482,610		$	3,538,816		$	3,534,218		$	3,265,385

Simmons First National Corporation													SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands, except per share data)
INTEREST INCOME
Loans not covered by loss share	$	23,483		$	22,602		$	23,696		$	23,912		$	23,192
Loans covered by FDIC loss share		7,132			6,469			6,175			6,759			5,041
Federal funds sold		6			5			3			4			2
Investment securities		3,428			3,019			2,902			3,106			3,027
Mortgage loans held for sale		122			118			155			149			171
Assets held in trading accounts		6			6			11			11			12
Interest bearing balances due from banks		234			352			290			301			267
TOTAL INTEREST INCOME		34,411			32,571			33,232			34,242			31,712
INTEREST EXPENSE
Time deposits		1,392			1,479			1,588			1,807			1,863
Other deposits		601			603			611			652			658
Federal funds purchased and securities
sold under agreements to repurchase		46			53			65			65			69
Other borrowings		646			692			734			948			792
Subordinated debentures		162			162			159			163			389
TOTAL INTEREST EXPENSE		2,847			2,989			3,157			3,635			3,771
NET INTEREST INCOME		31,564			29,582			30,075			30,607			27,941
Provision for loan losses		1,081			1,034			919			1,295			1,299
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		30,483			28,548			29,156			29,312			26,642
NON-INTEREST INCOME
Trust income		1,448			1,342			1,444			1,484			1,440
Service charges on deposit accounts		4,603			4,474			4,241			4,645			4,368
Other service charges and fees		728			791			775			747			684
Mortgage lending income		1,122			1,338			1,216			1,553			1,705
Investment banking income		240			696			454			337			560
Credit card fees		4,400			4,341			4,039			4,655			4,104
Bank owned life insurance income		328			366			278			385			355
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		(3,443	)		(2,615	)		(2,142	)		(2,286	)		(2,689	)
Other income		887			733			1,008			930			165
TOTAL NON-INTEREST INCOME		10,313			11,273			11,313			14,743			11,812
NON-INTEREST EXPENSE
Salaries and employee benefits		17,701			17,937			18,507			17,674			15,911
Occupancy expense, net		2,485			2,450			2,555			2,311			2,182
Furniture and equipment expense		1,613			2,030			1,723			1,835			1,835
Other real estate and foreclosure expense		385			59			331			311			280
Deposit insurance		595			492			775			614			444
Merger related costs		190			(467	)		240			1,081			815
Other operating expenses		7,934			7,818			7,781			8,340			7,219
TOTAL NON-INTEREST EXPENSE		30,903			30,319			31,912			32,166			28,686
NET INCOME BEFORE INCOME TAXES		9,893			9,502			8,557			11,889			9,768
Provision for income taxes		2,961			2,926			2,620			3,856			3,008
NET INCOME	$	6,932		$	6,576		$	5,937		$	8,033		$	6,760
BASIC EARNINGS PER SHARE	$	0.43		$	0.40		$	0.36		$	0.48		$	0.41
DILUTED EARNINGS PER SHARE	$	0.43		$	0.40		$	0.36		$	0.48		$	0.41

Simmons First National Corporation													SFNC
Consolidated Statements of Income - Year-to-Date
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands, except per share data)
INTEREST INCOME
Loans not covered by loss share	$	69,781		$	46,298		$	23,696		$	91,734		$	67,822
Loans covered by FDIC loss share		19,776			12,644			6,175			22,767			16,009
Federal funds sold		14			8			3			7			4
Investment securities		9,349			5,921			2,902			12,721			9,615
Mortgage loans held for sale		395			273			155			637			487
Assets held in trading accounts		23			17			11			48			37
Interest bearing balances due from banks		875			642			290			1,220			919
TOTAL INTEREST INCOME		100,213			65,803			33,232			129,134			94,893
INTEREST EXPENSE
Time deposits		4,460			3,067			1,588			7,943			6,136
Other deposits		1,814			1,214			611			2,682			2,029
Federal funds purchased and securities
sold under agreements to repurchase		165			118			65			310			248
Other borrowings		2,072			1,426			734			3,354			2,406
Subordinated debentures		483			321			159			1,328			1,166
TOTAL INTEREST EXPENSE		8,994			6,146			3,157			15,617			11,985
NET INTEREST INCOME		91,219			59,657			30,075			113,517			82,908
Provision for loan losses		3,034			1,953			919			4,140			2,846
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		88,185			57,704			29,156			109,377			80,062
NON-INTEREST INCOME
Trust income		4,234			2,786			1,444			5,473			3,988
Service charges on deposit accounts		13,318			8,715			4,241			16,808			12,163
Other service charges and fees		2,294			1,566			775			2,961			2,211
Mortgage lending income		3,677			2,554			1,216			5,997			4,441
Investment banking income		1,390			1,150			454			2,038			1,700
Credit card fees		12,779			8,380			4,039			17,045			12,390
Bank owned life insurance income		974			644			278			1,463			1,078
Gain on sale of securities, net		(193	)		(193	)		-			2			-
Gain on FDIC-assisted transactions		-			-			-			3,411			1,120
Net (loss) gain on assets covered by FDIC loss share agreements		(8,200	)		(4,757	)		(2,142	)		(9,793	)		(7,507	)
Other income		2,626			1,741			1,008			2,966			2,037
TOTAL NON-INTEREST INCOME		32,899			22,586			11,313			48,371			33,621
NON-INTEREST EXPENSE
Salaries and employee benefits		54,146			36,444			18,507			66,999			49,323
Occupancy expense, net		7,490			5,005			2,555			8,603			6,291
Furniture and equipment expense		5,367			3,753			1,723			6,882			5,047
Other real estate and foreclosure expense		775			390			331			992			681
Deposit insurance		1,862			1,267			775			2,086			1,472
Merger related costs		(37	)		(227	)		240			1,896			815
Other operating expenses		23,529			15,599			7,781			30,275			21,928
TOTAL NON-INTEREST EXPENSE		93,132			62,231			31,912			117,733			85,557
NET INCOME BEFORE INCOME TAXES		27,952			18,059			8,557			40,015			28,126
Provision for income taxes		8,507			5,546			2,620			12,331			8,475
NET INCOME	$	19,445		$	12,513		$	5,937		$	27,684		$	19,651
BASIC EARNINGS PER SHARE	$	1.19		$	0.76		$	0.36		$	1.64		$	1.16
DILUTED EARNINGS PER SHARE	$	1.19		$	0.76		$	0.36		$	1.64		$	1.16

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands)
Tier 1 capital
Stockholders' equity	$	403,034		$	401,850		$	406,454		$	406,062		$	404,248
Trust preferred securities, net allowable		20,000			20,000			20,000			20,000			20,000
Disallowed intangible assets, net of deferred tax		(49,727	)		(48,091	)		(48,529	)		(48,966	)		(48,053	)
Unrealized gain on AFS securities		2,601			2,410			(45	)		(257	)		(582	)
Total Tier 1 capital		375,908			376,169			377,880			376,839			375,613
Tier 2 capital
Qualifying unrealized gain on AFS equity securities		40			35			28			19			14
Qualifying allowance for loan losses		25,633			24,818			24,129			24,743			24,395
Total Tier 2 capital		25,673			24,853			24,157			24,762			24,409
Total risk-based capital	$	401,581		$	401,022		$	402,037		$	401,601		$	400,022
Risk weighted assets	$	2,047,198		$	1,981,341		$	1,925,199		$	1,974,800		$	1,946,344
Adjusted average assets for leverage ratio	$	3,378,676		$	3,434,844		$	3,490,102		$	3,484,504		$	3,216,488
Ratios at end of quarter
Equity to assets		11.71	%		11.74	%		11.47	%		11.51	%		11.84	%
Tangible common equity to tangible assets		9.98	%		10.06	%		9.84	%		9.87	%		10.18	%
Tier 1 leverage ratio		11.13	%		10.95	%		10.83	%		10.81	%		11.68	%
Tier 1 risk-based capital ratio		18.36	%		18.99	%		19.63	%		19.08	%		19.30	%
Total risk-based capital ratio		19.62	%		20.24	%		20.88	%		20.34	%		20.55	%

Simmons First National Corporation									SFNC
Consolidated Loans and Investments
For the Quarters Ended	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
(Unaudited)	2013		2013		2013		2012		2012
(in thousands)
Legacy Loan Portfolio - End of Period (1)
Consumer
Credit cards	$	177,463	$	173,536	$	171,599	$	185,536	$	175,760
Student loans		28,392		30,106		31,835		34,145		36,441
Other consumer		101,399		103,765		102,297		105,319		107,604
Total consumer		307,254		307,407		305,731		325,000		319,805
Real Estate
Construction		161,024		142,902		136,099		138,132		128,423
Single-family residential		375,703		364,239		355,479		356,907		355,976
Other commercial		602,463		572,110		569,686		568,166		546,224
Total real estate		1,139,190		1,079,251		1,061,264		1,063,205		1,030,623
Commercial
Commercial		154,508		152,122		150,427		141,336		138,719
Agricultural		135,633		107,113		68,028		93,805		130,727
Total commercial		290,141		259,235		218,455		235,141		269,446
Other		4,576		4,502		3,627		5,167		3,527
Total Loans	$	1,741,161	$	1,650,395	$	1,589,077	$	1,628,513	$	1,623,401
(1) Excludes all acquired loans, including those covered by FDIC loss share agreements.
Investment Securities - End of Period
Held-to-Maturity
U.S. Government agencies	$	313,052	$	313,050	$	288,480	$	288,098	$	303,640
Mortgage-backed securities		41		43		45		49		51
State and political subdivisions		268,055		241,751		199,368		207,374		206,319
Other securities		620		620		620		620		620
Total held-to-maturity		581,768		555,464		488,513		496,141		510,630
Available-for-Sale
U.S. Government agencies		163,127		159,390		159,846		152,481		164,467
Mortgage-backed securities		1,994		2,078		15,891		20,634		24,333
State and political subdivisions		1,263		1,262		1,417		2,988		-
FHLB stock		5,085		5,353		5,325		5,498		5,788
Other securities		8,468		9,448		9,686		9,741		10,463
Total available-for-sale		179,937		177,531		192,165		191,342		205,051
Total investment securities	$	761,705	$	732,995	$	680,678	$	687,483	$	715,681
Fair value - HTM investment securities	$	570,703	$	543,154	$	491,556	$	500,578	$	516,419
Investment Securities - QTD Average
Taxable securities	$	490,801	$	478,946	$	485,711	$	495,917	$	467,988
Tax exempt securities		255,129		214,289		203,422		210,101		206,361
Total investment securities - QTD average	$	745,930	$	693,235	$	689,133	$	706,018	$	674,349

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	27,398		$	27,735		$	27,882		$	28,145		$	28,397
Loans charged off
Credit cards		770			743			909			884			806
Other consumer		449			310			374			362			358
Real estate		247			887			239			705			773
Commercial		20			133			96			163			86
Total loans charged off		1,486			2,073			1,618			2,114			2,023
Recoveries of loans previously charged off
Credit cards		235			204			236			194			242
Other consumer		114			116			195			177			107
Real estate		151			295			68			144			61
Commercial		40			87			53			41			62
Total recoveries		540			702			552			556			472
Net loans charged off		946			1,371			1,066			1,558			1,551
Provision for loan losses		1,081			1,034			919			1,295			1,299
Balance, end of quarter	$	27,533		$	27,398		$	27,735		$	27,882		$	28,145
Non-performing assets (1) (2)
Non-performing loans
Nonaccrual loans															��
Real estate	$	4,157		$	4,327		$	6,963		$	7,135		$	6,197
Commercial		525			526			602			618			894
Consumer		1,293			1,410			1,203			1,370			1,389
Total nonaccrual loans		5,975			6,263			8,768			9,123			8,480
Loans past due 90 days or more
Government guaranteed student loans		2,966			2,254			2,283			2,234			2,324
Other loans		725			879			661			681			1,001
Total loans past due 90 days or more		3,691			3,133			2,944			2,915			3,325
Total non-performing loans		9,666			9,396			11,712			12,038			11,805
Other non-performing assets
Foreclosed assets held for sale		20,493			21,804			21,253			21,556			23,126
Acquired foreclosed assets held for sale, not covered
by FDIC loss share agreements		5,710			8,586			9,461			11,796			6,539
Other non-performing assets		60			80			238			221			60
Total other non-performing assets		26,263			30,470			30,952			33,573			29,725
Total non-performing assets	$	35,929		$	39,866		$	42,664		$	45,611		$	41,530
Performing TDRs (troubled debt restructurings)	$	9,584		$	10,473		$	10,745		$	11,015		$	10,995
Ratios (1) (2)
Allowance for loan losses to total loans		1.58	%		1.66	%		1.75	%		1.71	%		1.73	%
Allowance for loan losses to non-performing loans		285	%		292	%		237	%		232	%		238	%
Non-performing loans to total loans		0.56	%		0.57	%		0.74	%		0.74	%		0.73	%
Non-performing assets (including performing TDRs)
to total assets		1.32	%		1.47	%		1.51	%		1.61	%		1.54	%
Non-performing assets to total assets		1.04	%		1.17	%		1.20	%		1.29	%		1.22	%
Non-performing assets to total assets
(excluding Gov't guaranteed student loans)		0.96	%		1.10	%		1.14	%		1.23	%		1.15	%
Annualized net charge offs to total loans		0.22	%		0.34	%		0.27	%		0.38	%		0.38	%
Annualized net credit card charge offs to
total credit card loans		1.21	%		1.25	%		1.53	%		1.54	%		1.27	%
Annualized net charge offs to total loans
(excluding credit cards)		0.11	%		0.23	%		0.11	%		0.24	%		0.27	%
Past due loans >30 days (excluding nonaccrual)		0.62	%		0.54	%		0.64	%		0.63	%		0.75	%
Past due loans >30 days (excluding nonaccrual)
(excluding Gov't guaranteed student loans)		0.36	%		0.35	%		0.40	%		0.44	%		0.48	%

(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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
ASSETS
Earning Assets
Interest bearing balances due from banks		0.25	%		0.27	%		0.21	%		0.24	%		0.22	%
Investment securities		2.52	%		2.37	%		2.33	%		2.39	%		2.46	%
Mortgage loans held for sale		3.98	%		3.34	%		3.23	%		3.33	%		3.52	%
Assets held in trading accounts		0.27	%		0.29	%		0.52	%		0.57	%		0.61	%
Loans, including covered loans*		6.32	%		6.27	%		6.50	%		6.31	%		6.36	%
Total interest earning assets		4.63	%		4.35	%		4.41	%		4.45	%		4.45	%
LIABILITIES
Interest bearing liabilities
Interest bearing transaction and
savings accounts		0.17	%		0.17	%		0.17	%		0.18	%		0.20	%
Time deposits		0.67	%		0.71	%		0.75	%		0.80	%		0.88	%
Total interest bearing deposits		0.35	%		0.36	%		0.39	%		0.42	%		0.47	%
Federal funds purchased and securities
sold under agreement to repurchase		0.27	%		0.24	%		0.22	%		0.25	%		0.38	%
Other borrowings		3.39	%		3.47	%		3.55	%		4.21	%		3.49	%
Subordinated debentures		3.12	%		3.15	%		3.13	%		3.14	%		5.06	%
Total interest bearing liabilities		0.47	%		0.48	%		0.51	%		0.57	%		0.65	%
NET INTEREST MARGIN/SPREAD
Net interest spread		4.16	%		3.87	%		3.90	%		3.88	%		3.80	%
Net interest margin - quarter-to-date		4.27	%		3.96	%		4.01	%		3.99	%		3.94	%
Net interest margin - year-to-date		4.08	%		3.98	%		4.01	%		3.93	%		3.91	%

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

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
($ in thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.43		$	0.40		$	0.36		$	0.48		$	0.41
Core earnings (excludes nonrecurring items) (non-GAAP)		7,371			6,409			6,083			7,404			6,575
Diluted core earnings per share (non-GAAP)		0.45			0.39			0.37			0.44			0.40
Cash dividends declared per common share		0.21			0.21			0.21			0.20			0.20
Cash dividends declared - amount		3,401			3,434			3,469			3,323			3,334
Return on average stockholders' equity		6.80	%		6.46	%		5.89	%		7.83	%		6.61	%
Return on tangible equity		8.18	%		7.76	%		7.09	%		9.36	%		7.85	%
Return on average assets		0.80	%		0.76	%		0.68	%		0.90	%		0.82	%
Net interest margin (FTE)		4.27	%		3.96	%		4.01	%		3.99	%		3.94	%
FTE adjustment - investments		1,313			1,083			1,062			1,134			1,138
FTE adjustment - loans		11			12			11			11			11
Amortization of intangibles		135			137			137			126			74
Amortization of intangibles, net of taxes		82			83			83			77			45
Average shares outstanding		16,220,199			16,414,893			16,516,438			16,624,637			16,756,589
Average earning assets		3,059,023			3,106,504			3,151,590			3,165,595			2,938,994
Average interest bearing liabilities		2,427,714			2,481,430			2,527,848			2,521,901			2,323,202
YEAR-TO-DATE
Diluted earnings per share	$	1.19		$	0.76		$	0.36		$	1.64		$	1.16
Core earnings (excludes nonrecurring items) (non-GAAP)		19,863			12,492			6,083			26,870			19,466
Diluted core earnings per share (non-GAAP)		1.21			0.76			0.37			1.59			1.15
Cash dividends declared per common share		0.63			0.42			0.21			0.80			0.60
Cash dividends declared - amount		10,304			6,903			3,469			13,496			10,173
Return on average stockholders' equity		6.39	%		6.18	%		5.89	%		6.77	%		6.41	%
Return on tangible equity		7.68	%		7.43	%		7.09	%		8.05	%		7.61	%
Return on average assets		0.75	%		0.72	%		0.68	%		0.83	%		0.80	%
Net interest margin (FTE)		4.08	%		3.98	%		4.01	%		3.93	%		3.91	%
FTE adjustment - investments		3,458			2,145			1,062			4,660			3,526
FTE adjustment - loans		34			23			11			45			34
Amortization of intangibles		409			274			137			348			222
Amortization of intangibles, net of taxes		248			166			83			212			135
Average shares outstanding		16,382,758			16,465,385			16,516,438			16,908,904			17,004,351
Average diluted shares outstanding		16,388,393			16,468,814			16,520,398			16,911,363			17,007,623
Average earning assets		3,105,706			3,129,048			3,151,590			3,008,840			2,952,324
Average interest bearing liabilities		2,477,899			2,503,992			2,527,848			2,378,748			2,331,032
END OF PERIOD
Book value per share	$	24.88		$	24.67		$	24.62		$	24.55		$	24.26
Tangible book value per share		20.80			20.74			20.73			20.66			20.47
Shares outstanding		16,198,964			16,289,239			16,509,666			16,542,778			16,660,278
Full-time equivalent employees		1,097			1,114			1,112			1,068			1,073
Total number of ATM's		106			110			110			110			106
Total number of financial centers		87			92			92			92			88
Parent company only - investment in subsidiaries		371,531			369,965			370,728			368,847			387,944
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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2013			2013			2013			2012			2012
(in thousands, except per share data)
QUARTER-TO-DATE
Net Income	$	6,932		$	6,576		$	5,937		$	8,033		$	6,760
Nonrecurring items
Gain on FDIC assisted transactions		-			-			-			(2,291	)		(1,120	)
Merger related costs		190			(467	)		240			1,081			815
Loss on sale of securities		-			193			-			-			-
FHLB prepayment penalties		-			-			-			175			-
Branch right sizing		533			-			-			-			-
Tax effect		(284	)		107			(94	)		406			120
Net nonrecurring items		439			(167	)		146			(629	)		(185	)
Core earnings (non-GAAP)	$	7,371		$	6,409		$	6,083		$	7,404		$	6,575
Diluted earnings per share	$	0.43		$	0.40		$	0.36		$	0.48		$	0.41
Nonrecurring items
Gain on FDIC assisted transactions		-			-			-			(0.14	)		(0.07	)
Merger related costs		0.01			(0.03	)		0.01			0.07			0.05
Loss on sale of securities		-			0.01			-			-			-
FHLB prepayment penalties		-			-			-			0.01			-
Branch right sizing		0.03			-			-			-			-
Tax effect		(0.02	)		0.01			-			0.02			0.01
Net nonrecurring items		0.02			(0.01	)		0.01			(0.04	)		(0.01	)
Diluted core earnings per share (non-GAAP)	$	0.45		$	0.39		$	0.37		$	0.44		$	0.40
YEAR-TO-DATE
Net Income	$	19,445		$	12,513		$	5,937		$	27,684		$	19,651
Nonrecurring items
Gain on FDIC assisted transactions		-			-			-			(3,411	)		(1,120	)
Merger related costs		(37	)		(227	)		240			1,896			815
Loss on sale of securities		193			193			-			-			-
FHLB prepayment penalties		-			-			-			175			-
Branch right sizing		533			-			-			-			-
Tax effect		(271	)		13			(94	)		526			120
Net nonrecurring items		418			(21	)		146			(814	)		(185	)
Core earnings (non-GAAP)	$	19,863		$	12,492		$	6,083		$	26,870		$	19,466
Diluted earnings per share	$	1.19		$	0.76		$	0.36		$	1.64		$	1.16
Nonrecurring items
Gain on FDIC assisted transactions		-			-			-			(0.21	)		(0.07	)
Merger related costs		(0.01	)		(0.02	)		0.01			0.12			0.05
Loss on sale of securities		0.01			0.01			-			-			-
FHLB prepayment penalties		-			-			-			0.01			-
Branch right sizing		0.03			-			-			-			-
Tax effect		(0.01	)		0.01			-			0.03			0.01
Net nonrecurring items		0.02			-			0.01			(0.05	)		(0.01	)
Diluted core earnings per share (non-GAAP)	$	1.21		$	0.76		$	0.37		$	1.59		$	1.15