Simmons First National (SFNC) 8-K Simmons First Announces 139 Percent Increase In Core Earnings

Exhibit 99.1

FOR IMMEDIATE RELEASE: October 22, 2015

SIMMONS FIRST ANNOUNCES 139 PERCENT INCREASE IN CORE EARNINGS

Pine Bluff, AR – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced record core earnings of $25.6 million for the third quarter of 2015, an increase of $14.9 million, or 139 percent, compared with the same quarter last year. Diluted core earnings per share were $0.85, an increase of $0.22, or 34.9 percent. Including the non-core items, net income was $21.6 million for the third quarter of 2015, an increase of $12.8 million, or 146 percent, compared with the same quarter last year. Diluted earnings per share were $0.72, an increase of $0.20, or 38.5 percent.

Year-to-date core earnings were $63.7 million, an increase of $36.4 million, or 133 percent, compared with the same period of 2014. Year-to-date diluted core earnings per share were $2.32, an increase of $0.67, or 40.6 percent. Year-to-date net income was $50.3 million, or $1.83 diluted earnings per share.

“We continue to make good progress with our efficiency initiatives, both in revenue enhancement and in expense control,” said George A. Makris, Jr., chairman and CEO. “Our core efficiency ratio was 57.5 percent for the quarter and our core ROA was 1.33 percent.”

Loans

Total loans, including those acquired, were $4.9 billion at Sept. 30, 2015, an increase of $2.1 billion, or 76.0 percent, compared with the same period in 2014. Legacy loans (all loans excluding acquired loans) grew $876 million, or 44.6 percent. Acquired loans increased by $1.2 billion, net of discounts.

Deposits

At Sept. 30, 2015, total deposits were $6.1 billion, an increase of $2.2 billion, or 55.8 percent, compared with the same period in 2014. Total non-time deposits were $4.7 billion, or 78 percent of total deposits.

Net Interest Income

The company’s net interest income for the third quarter of 2015 was $78.7 million, an increase of $36.9 million, or 88.4 percent, from the same period of 2014. This increase was driven by growth in the legacy loan portfolio and earning assets acquired through the Delta Trust, Community First and Liberty transactions. Net interest margin was 4.82 percent for the quarter ended Sept. 30, 2015,a 46 basis-point increase from the same quarter of 2014.

Included in interest income was the yield accretion recognized on acquired loans of $14.9 million and $8.5 million for the third quarter of 2015 and 2014, respectively. The company’s core net interest margin, excluding the accretion, was 3.93 percent for the third quarter of 2015, a 42 basis-point increase from the same quarter of 2014.

P.O. BOX 7009 501 MAIN STREET PINE BLUFF, ARKANSAS 71611-7009 (870) 541-1000 www.simmonsfirst.com

Non-Interest Income

Non-interest income for the third quarter was $23.5 million, an increase of $7.5 million compared with the third quarter of 2014. The increase in non-interest income was primarily due to additional trust income, service charge and fee income, mortgage lending and investment banking income resulting from the acquisitions, gains on sale of other real estate and gain on the sale of our Salina, Kan., banking operations. Losses on FDIC-covered assets increased $5.3 million primarily due to a $7.5 million charge for termination of the loss-share agreements, partially offset by a $2.1 million decrease in indemnification asset amortization.

Non-Interest Expense

Non-interest expense for the third quarter of 2015 was $67.9 million, an increase of $23.6 million compared with the same period in 2014. Included in the quarter were $1.2 million of merger-related and branch right-sizing expenses. The increase in non-interest expense was primarily due to incremental operating expenses of the acquired Delta Trust, Community First and Liberty franchises, somewhat offset by the company’s ongoing efficiency initiatives.

Asset Quality

During the third quarter, the company entered into an agreement with the FDIC to terminate all of its remaining loss-sharing agreements. As a result, all FDIC-acquired assets are now classified as non-covered. All acquired loans are recorded at their discounted net present value; therefore, they are excluded from the computations of the asset quality ratios for the legacy loan portfolio, except for their inclusion in total assets.

At Sept. 30, 2015, the allowance for loan losses for legacy loans was $30.4 million and $1.0 million for acquired loans. The loan discount credit mark was $70.4 million, for a total of $101.8 million of coverage. This equates to a total coverage ratio of 2.1 percent of gross loans. The ratio of credit mark and related allowance to acquired loans was 3.4 percent.

The company's allowance for loan losses on legacy loans at Sept. 30, 2015, was 1.07 percent of total loans and 181 percent of non-performing loans. In the legacy portfolio, non-performing loans as a percent of total loans were 0.59 percent. Through the third quarter of 2015, the year-to-date annualized net charge-off ratio, excluding credit cards, was 0.12 percent, and the year-to-date annualized credit card charge-off ratio was 1.30 percent.

Capital

At Sept. 30, 2015, common stockholders' equity was $1.0 billion, book value per share was $33.89 and tangible book value per share was $21.89. The company's ratio of stockholders' equity to total assets was 13.8 percent and its ratio of tangible common equity to tangible assets was 9.1 percent.

Simmons First National Corporation

Simmons First National Corporation is an Arkansas-based financial holding company with total assets of $7.6 billion and conducting financial operations throughout Arkansas, Kansas, Missouri and Tennessee. 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 p.m. CDT on Thursday, Oct. 22, 2015. Interested persons can listen to this call by dialing toll-free 1-866-298-7926 (United States and Canada only) and asking for the Simmons First National Corporation conference call, conference ID 48225101. 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 news 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 news 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:

J. BURTON HICKS

Chief of Staff 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)	2015			2015			2015			2014			2014
($ in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	106,678		$	69,770		$	83,424		$	54,347		$	73,554
Interest bearing balances due from banks		284,645			173,130			423,986			281,562			210,742
Federal funds sold		9,675			49,570			178,418			-			10,000
Cash and cash equivalents		400,998			292,470			685,828			335,909			294,296
Interest bearing balances due from banks		16,504			24,189			25,000			-			-
Investment securities - held-to-maturity		776,294			861,596			902,423			777,587			822,730
Investment securities - available-for-sale		703,347			747,701			707,383			305,283			317,473
Mortgage loans held for sale		15,556			48,094			25,513			21,265			22,003
Assets held in trading accounts		6,292			6,481			6,528			6,987			6,819
Loans:
Legacy loans		2,839,278			2,611,229			2,115,380			2,053,721			1,963,378
Allowance for loan losses		(30,380	)		(30,567	)		(29,183	)		(29,028	)		(27,076	)
Loans acquired, not covered by FDIC loss share
(net of discount and allowance)		2,013,816			2,108,306			2,418,440			575,980			676,056
Loans acquired, covered by FDIC loss share
(net of discount and allowance)		-			93,121			102,468			106,933			118,158
Net loans		4,822,714			4,782,089			4,607,105			2,707,606			2,730,516
FDIC indemnification asset		-			13,020			15,965			22,663			25,694
Premises and equipment		190,182			191,335			198,106			122,966			115,639
Premises held for sale		923			6,587			-			6,126			15,856
Foreclosed assets not covered by FDIC loss share		48,073			42,666			50,723			44,856			50,770
Foreclosed assets covered by FDIC loss share		-			12,833			12,010			11,793			15,212
Interest receivable		26,873			24,129			24,719			16,774			18,006
Bank owned life insurance		118,922			118,073			117,296			77,592			75,357
Goodwill		314,282			314,282			314,282			108,095			108,095
Other intangible assets		44,904			46,605			47,960			22,526			22,988
Other assets		73,830			82,208			74,959			55,326			49,768
Total assets	$	7,559,694		$	7,614,358		$	7,815,800		$	4,643,354		$	4,691,222
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	1,212,724		$	1,141,285		$	1,123,966		$	889,260		$	884,064
Interest bearing transaction accounts and savings deposits		3,521,840			3,581,049			3,627,870			2,006,271			1,984,422
Time deposits less than $100,000		673,651			719,606			756,978			530,890			565,957
Time deposits greater than $100,000		681,585			728,082			765,894			434,297			474,472
Total deposits		6,089,800			6,170,022			6,274,708			3,860,718			3,908,915
Federal funds purchased and securities sold
under agreements to repurchase		110,437			111,792			111,484			110,586			112,977
Other borrowings		173,426			171,321			284,386			114,682			123,396
Subordinated debentures		61,906			61,794			61,644			20,620			20,620
Accrued interest and other liabilities		78,684			74,324			69,841			42,429			41,309
Total liabilities		6,514,253			6,589,253			6,802,063			4,149,035			4,207,217
Stockholders' equity:
Preferred stock		30,852			30,852			30,852			-			-
Common stock		299			299			299			181			180
Surplus		642,400			640,895			639,493			156,568			155,592
Undivided profits		369,172			354,459			341,238			338,906			330,185
Accumulated other comprehensive income (loss):
Unrealized (depreciation) appreciation on AFS securities		2,718			(1,400	)		1,855			(1,336	)		(1,952	)
Total stockholders' equity		1,045,441			1,025,105			1,013,737			494,319			484,005
Total liabilities and stockholders' equity	$	7,559,694		$	7,614,358		$	7,815,800		$	4,643,354		$	4,691,222

Page 1 

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)	2015			2015			2015			2014			2014
($ in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	94,695		$	69,137		$	59,711		$	54,485		$	50,980
Interest bearing balances due from banks		206,467			308,756			371,195			299,054			288,258
Federal funds sold		19,086			75,922			56,846			6,486			6,794
Cash and cash equivalents		320,248			453,815			487,752			360,025			346,032
Interest bearing balances due from banks		20,251			26,817			8,611			-			-
Investment securities - held-to-maturity		728,437			922,877			915,405			806,069			810,085
Investment securities - available-for-sale		838,596			732,949			370,102			318,879			300,927
Mortgage loans held for sale		26,379			37,656			14,655			17,241			24,942
Assets held in trading accounts		6,401			6,592			6,782			6,848			6,841
Loans:
Legacy loans		2,725,254			2,363,305			2,084,551			2,008,550			1,917,155
Allowance for loan losses		(31,709	)		(31,275	)		(30,072	)		(28,474	)		(27,470	)
Loans acquired, not covered by FDIC loss share
(net of discount and allowance)		2,020,236			2,228,841			1,197,601			620,505			481,658
Loans acquired, covered by FDIC loss share
(net of discount and allowance)		89,578			97,795			104,701			111,618			119,372
Net loans		4,803,359			4,658,666			3,356,781			2,712,199			2,490,715
FDIC indemnification asset		10,838			15,448			21,515			24,457			28,311
Premises and equipment		191,107			200,875			150,564			117,018			115,577
Premises held for sale		5,775			6,131			6,126			6,794			12,521
Foreclosed assets not covered by FDIC loss share		40,273			42,994			44,059			48,745			51,097
Foreclosed assets covered by FDIC loss share		12,345			12,313			11,902			13,964			16,073
Interest receivable		24,403			23,260			19,181			17,738			15,743
Bank owned life insurance		118,489			117,662			91,760			76,578			63,798
Goodwill		314,282			314,060			175,901			109,837			88,590
Other intangible assets		45,712			47,302			31,102			17,748			15,321
Other assets		100,872			76,275			58,536			50,566			52,234
Total assets	$	7,607,767		$	7,695,692		$	5,770,734		$	4,704,706		$	4,438,807
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	1,121,078		$	1,088,474		$	946,979		$	895,470		$	828,340
Interest bearing transaction accounts and savings deposits		3,600,930			3,621,060			2,601,046			2,010,827			1,869,095
Time deposits less than $100,000		694,872			739,748			573,867			545,986			555,837
Time deposits greater than $100,000		703,056			748,460			580,625			458,117			457,489
Total deposits		6,119,936			6,197,742			4,702,517			3,910,400			3,710,761
Federal funds purchased and securities sold
under agreements to repurchase		109,311			116,258			121,568			117,661			108,357
Other borrowings		197,832			179,080			183,953			121,691			117,664
Subordinated debentures		61,851			62,981			35,686			20,620			20,620
Accrued interest and other liabilities		74,696			70,312			43,825			38,869			38,950
Total liabilities		6,563,626			6,626,373			5,087,549			4,209,241			3,996,352
Stockholders' equity:
Preferred stock		30,852			30,885			10,970			-			-
Common stock		299			299			223			180			169
Surplus		641,738			640,172			328,830			155,672			111,551
Undivided profits		371,291			396,609			343,973			341,042			332,184
Accumulated other comprehensive income (loss):
Unrealized appreciation (depreciation) on AFS securities		(39	)		1,354			(811	)		(1,429	)		(1,449	)
Total stockholders' equity		1,044,141			1,069,319			683,185			495,465			442,455
Total liabilities and stockholders' equity	$	7,607,767		$	7,695,692		$	5,770,734		$	4,704,706		$	4,438,807

Page 2 

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)	2015			2015			2015			2014			2014
($ in thousands, except per share data)
INTEREST INCOME
Loans	$	76,432		$	70,438		$	50,986		$	45,248		$	40,082
Federal funds sold		15			73			29			13			12
Investment securities		8,335			8,050			5,879			5,325			4,717
Mortgage loans held for sale		291			375			148			188			269
Assets held in trading accounts		4			4			3			4			3
Interest bearing balances due from banks		122			229			210			167			132
TOTAL INTEREST INCOME		85,199			79,169			57,255			50,945			45,215
INTEREST EXPENSE
Time deposits		1,936			2,064			1,596			1,470			1,461
Other deposits		2,222			2,131			1,348			872			771
Federal funds purchased and securities
sold under agreements to repurchase		55			57			64			61			55
Other borrowings		1,812			1,151			1,051			992			996
Subordinated debentures		498			559			234			160			160
TOTAL INTEREST EXPENSE		6,523			5,962			4,293			3,555			3,443
NET INTEREST INCOME		78,676			73,207			52,962			47,390			41,772
Provision for loan losses		1,615			3,006			1,171			3,607			1,128
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		77,061			70,201			51,791			43,783			40,644
NON-INTEREST INCOME
Trust income		2,215			2,070			2,251			2,182			1,838
Service charges on deposit accounts		8,488			8,031			6,363			6,552			6,238
Other service charges and fees		3,089			3,130			1,827			1,083			808
Mortgage lending income		3,446			3,449			2,262			1,457			1,812
Investment banking income		663			593			894			451			284
Debit and credit card fees		6,879			6,486			5,648			5,653			5,769
Bank owned life insurance income		748			746			572			727			411
Gain on sale of securities, net		40			-			(38	)		(12	)		(18	)
Net (loss) gain on assets covered by FDIC loss-share agreements		(9,085	)		(3,056	)		(2,671	)		(3,013	)		(3,744	)
Other income		7,006			3,863			1,390			6,424			2,637
TOTAL NON-INTEREST INCOME		23,489			25,312			18,498			21,504			16,035
NON-INTEREST EXPENSE
Salaries and employee benefits		37,417			35,475			26,771			25,126			20,892
Occupancy expense, net		4,812			5,051			3,557			2,494			3,204
Furniture and equipment expense		4,202			3,241			3,268			2,732			2,363
Other real estate and foreclosure expense		2,297			1,017			381			1,395			1,864
Deposit insurance		1,013			1,096			870			724			877
Merger-related costs		857			1,247			10,419			1,214			3,628
Other operating expenses		17,314			18,041			12,106			13,294			11,526
TOTAL NON-INTEREST EXPENSE		67,912			65,168			57,372			46,979			44,354
NET INCOME BEFORE INCOME TAXES		32,638			30,345			12,917			18,308			12,325
Provision for income taxes		10,963			10,250			4,182			5,669			3,537
NET INCOME		21,675			20,095			8,735			12,639			8,788
Preferred stock dividends		77			77			26			-			-
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	21,598		$	20,018		$	8,709		$	12,639		$	8,788
BASIC EARNINGS PER SHARE	$	0.72		$	0.67		$	0.39		$	0.72		$	0.52
DILUTED EARNINGS PER SHARE	$	0.72		$	0.67		$	0.39		$	0.72		$	0.52

Page 3 

Simmons First National Corporation	SFNC
Consolidated Risk-Based Capital

For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2015			2015			2015			2014			2014
($ in thousands)
Tier 1 capital
Stockholders' equity	$	1,045,441		$	1,025,105		$	1,013,737		$	494,319		$	482,642
Trust preferred securities, net allowable		61,906			61,794			61,410			20,000			20,000
Disallowed intangible assets, net of deferred tax		(314,735	)		(342,590	)		(344,140	)		(112,545	)		(109,698	)
Unrealized (gain) loss on AFS securities		(2,718	)		1,400			(1,855	)		1,336			1,952
Other		-			(10,297	)		(4,789	)		-			-
Total Tier 1 capital		789,894			735,412			724,363			403,110			394,896
Tier 2 capital
Qualifying unrealized gain on AFS equity securities		-			-			-			2			-
Qualifying allowance for loan losses and
reserve for unfunded commitments		34,097			34,284			32,600			32,073			29,167
Total Tier 2 capital		34,097			34,284			32,600			32,075			29,167
Total risk-based capital	$	823,991		$	769,696		$	756,963		$	435,185		$	424,063
Common equity
Tier 1 capital	$	789,894		$	735,412		$	724,363			-			-
Less: Non-cumulative preferred stock		(30,852	)		(30,852	)		(30,852	)		-			-
Less: Trust preferred securities		(61,906	)		(61,794	)		(61,410	)		-			-
Total common equity	$	697,136		$	642,766		$	632,101			-			-
Risk weighted assets	$	4,986,641		$	4,714,852		$	4,659,065		$	3,002,270		$	3,063,801
Adjusted average assets for leverage ratio	$	7,293,113		$	7,350,900		$	5,428,706		$	4,593,924		$	4,331,488
Ratios at end of quarter
Equity to assets		13.83	%		13.46	%		12.97	%		10.65	%		10.29	%
Tangible common equity to tangible assets		9.10	%		8.73	%		8.32	%		8.06	%		7.78	%
Common equity Tier 1 ratio (CET1)		13.98	%		13.63	%		13.57	%		-			-
Tier 1 leverage ratio		10.83	%		10.00	%		13.34	%		8.77	%		9.12	%
Tier 1 risk-based capital ratio		15.84	%		15.60	%		15.55	%		13.43	%		12.89	%
Total risk-based capital ratio		16.52	%		16.32	%		16.25	%		14.50	%		13.84	%

Page 4 

Simmons First National Corporation	SFNC
Consolidated Loans and Investments

For the Quarters Ended	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
(Unaudited)	2015		2015		2015		2014		2014
($ in thousands)
Legacy Loan Portfolio - End of Period (1)
Consumer
Credit cards	$	171,701	$	174,074	$	171,413	$	185,380	$	175,822
Student loans		-		-		-		-		-
Other consumer		182,472		160,828		107,486		103,402		105,508
Total consumer		354,173		334,902		278,899		288,782		281,330
Real Estate
Construction		253,761		199,707		178,929		181,968		163,364
Single-family residential		623,089		662,954		507,351		455,563		436,925
Other commercial		1,037,559		878,109		716,021		714,797		681,848
Total real estate		1,914,409		1,740,770		1,402,301		1,352,328		1,282,137
Commercial
Commercial		394,422		388,869		324,815		291,820		249,186
Agricultural		170,257		141,502		105,228		115,658		145,157
Total commercial		564,679		530,371		430,043		407,478		394,343
Other		6,017		5,186		4,137		5,133		5,568
Total Loans	$	2,839,278	$	2,611,229	$	2,115,380	$	2,053,721	$	1,963,378
(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	$	285,071	$	361,744	$	390,625	$	418,914	$	455,827
Mortgage-backed securities		25,913		27,146		28,535		29,743		30,954
State and political subdivisions		464,245		471,631		482,316		328,310		335,329
Other securities		1,065		1,075		947		620		620
Total held-to-maturity		776,294		861,596		902,423		777,587		822,730
Available-for-Sale
U.S. Treasury	$	4,008	$	4,005	$	4,008	$	3,992	$	3,991
U.S. Government agencies		153,576		236,003		346,315		272,816		280,321
Mortgage-backed securities		502,344		464,857		312,011		1,572		32
State and political subdivisions		10,976		10,971		13,452		6,540		8,903
FHLB stock		14,275		13,619		15,256		5,126		5,623
Other securities		18,168		18,246		16,341		15,237		18,603
Total available-for-sale		703,347		747,701		707,383		305,283		317,473
Total investment securities	$	1,479,641	$	1,609,297	$	1,609,806	$	1,082,870	$	1,140,203
Fair value - HTM investment securities	$	785,030	$	863,349	$	913,037	$	780,534	$	823,446
Investment Securities - QTD Average
Taxable securities	$	1,088,597	$	1,163,708	$	893,946	$	782,062	$	781,685
Tax exempt securities		478,436		492,118		391,561		342,886		329,327
Total investment securities - QTD average	$	1,567,033	$	1,655,826	$	1,285,507	$	1,124,948	$	1,111,012

Page 5 

Simmons First National Corporation	SFNC
Consolidated Loans and Credit Coverage

For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2015			2015			2015			2014			2014
($ in thousands)
LOANS
Legacy loans	$	2,839,278		$	2,611,229		$	2,115,380		$	2,053,721		$	1,963,378
Allowance for loan losses (legacy loans)		(30,380	)		(30,567	)		(29,183	)		(29,028	)		(27,076	)
Legacy loans (net of allowance)		2,808,898			2,580,662			2,086,197			2,024,693			1,936,302
Loans acquired, not covered by FDIC loss share		2,085,211			2,171,388			2,491,316			621,020			733,914
Credit discount		(70,441	)		(63,082	)		(72,876	)		(45,040	)		(57,858	)
Allowance for loan losses (loans acquired, not covered)		(954	)		-			-			-			-
Loans acquired, not covered (net of discount and allowance)		2,013,816			2,108,306			2,418,440			575,980			676,056
Loans acquired, covered by FDIC loss share		-			114,296			126,629			140,038			154,183
Credit discount		-			(20,221	)		(23,207	)		(32,151	)		(36,025	)
Allowance for loan losses (acquired covered loans)		-			(954	)		(954	)		(954	)		-
Loans acquired, covered (net of discount and allowance)		-			93,121			102,468			106,933			118,158
Net loans	$	4,822,714		$	4,782,089		$	4,607,105		$	2,707,606		$	2,730,516
Loan Coverage Ratios
Allowance for loan losses to legacy loans		1.07	%		1.17	%		1.38	%		1.41	%		1.38	%
Discount for credit losses and allowance on loans acquired
to total loans acquired plus discount for credit losses
and allowance on loans acquired (non-GAAP)		3.42	%		3.69	%		3.71	%		10.27	%		10.57	%
Total allowance and credit coverage (non-GAAP)		2.07	%		2.34	%		2.67	%		3.81	%		4.24	%

Page 6 

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)	2015			2015			2015			2014			2014
($ in thousands)
Allowance for Loan Losses (Legacy Loans)
Balance, beginning of quarter	$	30,567		$	29,183		$	29,028		$	27,076		$	27,530
Loans charged off
Credit cards		763			802			785			859			788
Other consumer		597			366			220			781			648
Real estate		109			333			293			200			534
Commercial		516			-			245			310			474
Total loans charged off		1,985			1,501			1,543			2,150			2,444
Recoveries of loans previously charged off
Credit cards		213			241			213			220			190
Other consumer		78			187			133			94			122
Real estate		25			46			12			56			379
Commercial		-			9			169			125			171
Total recoveries		316			483			527			495			862
Net loans charged off		1,669			1,018			1,016			1,655			1,582
Provision for loan losses		1,482			2,402			1,171			3,607			1,128
Balance, end of quarter	$	30,380		$	30,567		$	29,183		$	29,028		$	27,076
Non-performing assets (1) (2)
Non-performing loans
Nonaccrual loans		15,305			15,565			14,511			12,038			11,212
Loans past due 90 days or more		1,506			1,375			498			961			713
Total non-performing loans		16,811			16,940			15,009			12,999			11,925
Other non-performing assets
Foreclosed assets held for sale, not covered		48,073			42,666			50,723			44,856			50,770
Other non-performing assets		172			242			215			97			72
Total other non-performing assets		48,245			42,908			50,938			44,953			50,842
Total non-performing assets	$	65,056		$	59,848		$	65,947		$	57,952		$	62,767
Performing TDRs (troubled debt restructurings)	$	1,955		$	1,959		$	2,227		$	2,233		$	2,234
Ratios (1) (2)
Allowance for loan losses to total loans		1.07	%		1.17	%		1.38	%		1.41	%		1.38	%
Allowance for loan losses to non-performing loans		181	%		180	%		194	%		223	%		227	%
Non-performing loans to total loans		0.59	%		0.65	%		0.71	%		0.63	%		0.61	%
Non-performing assets (including performing TDRs)
to total assets		0.89	%		0.81	%		0.87	%		1.30	%		1.39	%
Non-performing assets to total assets		0.86	%		0.79	%		0.84	%		1.25	%		1.34	%
Annualized net charge offs to total loans		0.24	%		0.17	%		0.20	%		0.33	%		0.33	%
Annualized net credit card charge offs to
total credit card loans		1.26	%		1.31	%		1.32	%		1.41	%		1.31	%
Annualized net charge offs to total loans
(excluding credit cards)		0.17	%		0.08	%		0.09	%		0.22	%		0.22	%

 (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. 

Page 7 

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)	2015			2015			2015			2014			2014
				��
ASSETS
Earning Assets
Interest bearing balances due from banks		0.23	%		0.30	%		0.23	%		0.22	%		0.18	%
Investment securities		2.65	%		2.50	%		2.44	%		2.49	%		2.29	%
Mortgage loans held for sale		4.38	%		3.99	%		4.10	%		4.33	%		4.28	%
Assets held in trading accounts		0.25	%		0.24	%		0.18	%		0.23	%		0.17	%
Loans, including acquired loans		6.27	%		6.03	%		6.11	%		6.55	%		6.32	%
Total interest earning assets		5.20	%		4.82	%		4.68	%		4.98	%		4.71	%
LIABILITIES
Interest bearing liabilities
Interest bearing transaction and
savings accounts		0.24	%		0.24	%		0.21	%		0.17	%		0.16	%
Time deposits		0.55	%		0.56	%		0.56	%		0.58	%		0.57	%
Total interest bearing deposits		0.33	%		0.33	%		0.32	%		0.31	%		0.31	%
Federal funds purchased and securities
sold under agreement to repurchase		0.20	%		0.20	%		0.21	%		0.21	%		0.20	%
Other borrowings		3.63	%		2.58	%		2.32	%		3.23	%		3.36	%
Subordinated debentures		3.19	%		3.56	%		2.66	%		3.08	%		3.08	%
Total interest bearing liabilities		0.48	%		0.44	%		0.42	%		0.43	%		0.44	%
NET INTEREST MARGIN/SPREAD
Net interest spread		4.72	%		4.38	%		4.26	%		4.55	%		4.27	%
Net interest margin - quarter-to-date		4.82	%		4.47	%		4.34	%		4.65	%		4.36	%
Net interest margin - year-to-date		4.58	%		4.42	%		4.34	%		4.47	%		4.41	%

Page 8 

Simmons First National Corporation	SFNC
Consolidated - Selected Financial Data

For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2015			2015			2015			2014			2014
($ in thousands, except share data)
QUARTER-TO-DATE
Financial Highlights - Core (non-GAAP)
Core earnings (excludes nonrecurring items) (1)	$	25,565		$	22,444		$	15,700		$	11,387		$	10,684
Diluted core earnings per share (1)		0.85			0.75			0.70			0.64			0.63
Core net interest margin (FTE) (2)		3.93	%		3.87	%		3.55	%		3.63	%		3.51	%
Core efficiency ratio (1)		57.54	%		58.51	%		62.24	%		64.32	%		64.89	%
Core return on average assets (1)		1.33	%		1.17	%		1.10	%		0.96	%		0.95	%
Core return on average common equity (1)		10.01	%		8.67	%		9.47	%		9.12	%		9.58	%
Core return on tangible common equity (1)		15.99	%		13.80	%		14.16	%		12.65	%		12.84	%
Financial Highlights - GAAP
Net Income	$	21,598		$	20,018		$	8,709		$	12,639		$	8,788
Diluted earnings per share		0.72			0.67			0.39			0.72			0.52
Return on average assets		1.13	%		1.04	%		0.61	%		1.07	%		0.79	%
Return on average common equity		8.46	%		7.73	%		5.25	%		10.12	%		7.88	%
Return on tangible common equity		13.58	%		12.36	%		8.07	%		14.00	%		10.62	%
Net interest margin (FTE)		4.82	%		4.47	%		4.34	%		4.65	%		4.36	%
FTE adjustment		2,172			2,303			1,857			1,751			1,702
Amortization of intangibles		1,265			1,388			899			565			454
Amortization of intangibles, net of taxes		769			844			546			343			276
Average earning assets		6,660,434			6,774,693			5,121,838			4,195,250			3,956,032
Average interest bearing liabilities		5,367,852			5,467,587			4,096,745			3,274,902			3,129,062
Average diluted shares outstanding		30,046,062			29,987,471			22,350,272			18,075,537			16,916,764
Cash dividends declared per common share		0.23			0.23			0.23			0.22			0.22
YEAR-TO-DATE
Financial Highlights - Core (non-GAAP)
Core earnings (excludes nonrecurring items) (1)	$	63,709		$	38,144		$	15,700		$	38,706		$	27,319
Diluted core earnings per share (1)		2.32			1.46			0.70			2.29			1.65
Core net interest margin (FTE) (2)		3.82	%		3.74	%		3.55	%		3.53	%		3.49	%
Core efficiency ratio (1)		59.05	%		60.08	%		62.24	%		67.22	%		68.41	%
Core return on average assets (1)		1.21	%		1.14	%		1.10	%		0.86	%		0.83	%
Core return on average common equity (1)		9.39	%		8.99	%		9.47	%		8.79	%		8.66	%
Core return on tangible common equity (1)		14.73	%		13.96	%		14.16	%		11.89	%		11.57	%
Financial Highlights - GAAP
Net Income	$	50,325		$	28,727		$	8,709		$	35,688		$	23,049
Diluted earnings per share		1.83			1.10			0.39			2.11			1.39
Return on average assets		0.96	%		0.86	%		0.61	%		0.80	%		0.70	%
Return on average common equity		7.41	%		6.77	%		5.25	%		8.11	%		7.30	%
Return on tangible common equity		11.73	%		10.63	%		8.07	%		10.99	%		9.82	%
Net interest margin (FTE)		4.58	%		4.42	%		4.34	%		4.47	%		4.41	%
FTE adjustment		6,332			4,160			1,857			6,840			5,089
Amortization of intangibles		3,552			2,287			899			1,979			1,359
Amortization of intangibles, net of taxes		2,159			1,390			546			1,203			826
Average earning assets		6,170,521			5,948,265			5,121,838			3,975,903			3,903,290
Average interest bearing liabilities		4,977,397			4,782,167			4,096,745			3,176,716			3,143,984
Average diluted shares outstanding		27,497,813			26,203,942			22,350,272			16,922,026			16,532,689
Cash dividends declared per common share		0.69			0.46			0.23			0.88			0.66
END OF PERIOD
Book value per share	$	33.89		$	33.26		$	32.93		$	27.38		$	26.82
Tangible book value per share		21.89			21.19			20.79			20.15			19.72
Shares outstanding		29,939,698			29,894,903			29,850,034			18,052,488			17,992,261
Full-time equivalent employees		1,967			2,043			2,076			1,338			1,397
Total number of ATM's		183			186			179			124			129
Total number of financial centers		149			152			164			109			113

  (1) Core earnings exclude nonrecurring items, which is a non-GAAP measurement 

  (2) Excludes accretable yield adjustment on loans, which is a non-GAAP measurement 

Page 9 

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)	2015			2015			2015			2014			2014
($ in thousands, except per share data)
QUARTER-TO-DATE
Net Income	$	21,598		$	20,018		$	8,709		$	12,639		$	8,788
Nonrecurring items
Gain on sale of banking operations		(2,110	)		-			-			-			-
Loss on FDIC loss-share termination		7,476			-			-			-			-
Merger-related costs		857			1,247			10,418			1,218			3,628
Change-in-control payments		-			-			-			885			-
Branch right-sizing		304			2,745			35			(4,221	)		(705	)
Charter consolidation costs		-			-			-			42			196
Tax effect (1)		(2,560	)		(1,566	)		(3,462	)		824			(1,223	)
Net nonrecurring items		3,967			2,426			6,991			(1,252	)		1,896
Core earnings (non-GAAP)	$	25,565		$	22,444		$	15,700		$	11,387		$	10,684
Diluted earnings per share	$	0.72		$	0.67		$	0.39		$	0.72		$	0.52
Nonrecurring items
Gain on sale of banking operations		(0.07	)		-			-			-			-
Loss on FDIC loss-share termination		0.25			-			-			-			-
Merger-related costs		0.03			0.04			0.47			0.07			0.21
Change-in-control payments		-			-			-			0.05			-
Branch right-sizing		0.01			0.09			-			(0.24	)		(0.04	)
Charter consolidation costs		-			-			-			-			0.01
Tax effect (1)		(0.09	)		(0.05	)		(0.16	)		0.04			(0.07	)
Net nonrecurring items		0.13			0.08			0.31			(0.08	)		0.11
Core earnings (non-GAAP)	$	0.85		$	0.75		$	0.70		$	0.64		$	0.63
YEAR-TO-DATE
Net Income	$	50,325		$	28,727		$	8,709		$	35,687		$	23,049
Nonrecurring items
Gain on sale of merchant services		-			-			-			(1,000	)		(1,000	)
Gain on sale of banking operations		(2,110	)		-			-			-			-
Loss on FDIC loss-share termination		7,476			-			-			-			-
Merger-related costs		12,522			11,665			10,418			7,472			6,254
Change-in-control payments		-			-			-			885			-
Branch right-sizing		3,084			2,780			35			(3,059	)		1,162
Charter consolidation costs		-			-			-			652			610
Tax effect (1)		(7,588	)		(5,028	)		(3,462	)		(1,931	)		(2,745	)
Net nonrecurring items		13,384			9,417			6,991			3,019			4,281
Core earnings (non-GAAP)	$	63,709		$	38,144		$	15,700		$	38,706		$	27,330
Diluted earnings per share	$	1.83		$	1.10		$	0.39		$	2.11		$	1.39
Nonrecurring items
Gain on sale of merchant services		-			-			-			(0.06	)		(0.06	)
Gain on sale of banking operations		(0.07	)		-			-			-			-
Loss on FDIC loss-share termination		0.27			-			-			-			-
Merger-related costs		0.46			0.45			0.47			0.44			0.37
Change-in-control payments		-			-			-			0.05			-
Branch right-sizing		0.11			0.11			-			(0.16	)		0.08
Charter consolidation costs		-			-			-			0.04			0.04
Tax effect (1)		(0.28	)		(0.20	)		(0.16	)		(0.13	)		(0.17	)
Net nonrecurring items		0.49			0.36			0.31			0.18			0.26
Core earnings (non-GAAP)	$	2.32		$	1.46		$	0.70		$	2.29		$	1.65

 (1) Effective tax rate of 39.225%, adjusted for non-deductible merger-related costs. 

Page 10