Company: SFNC
Filing Date: 2025-07-23
Form Type: 424B5
Source: 0001193125-25-162761
Chunk: 21

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-07-23
Form: 424B5
Chunk 21
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 of tax audits and any related litigation could be materially different than reflected in historical income tax provisions and
accruals. Should additional taxes be assessed as a result of an audit or litigation, an adverse effect on our income tax provision and net income in the period or periods for which that determination is made could result.

As described in “Summary — Recent Developments — Contemplated Balance Sheet Repositioning,” to the extent that this
offering is completed on terms that are satisfactory to us during the third quarter of 2025 and market conditions are satisfactory to us, then we anticipate undertaking a balance sheet repositioning focused on our investment securities portfolio
soon thereafter. We expect that we would reclassify approximately $3.6 billion in par value of held-to-maturity securities as available-for-sale, and then sell
approximately $3.2 billion of such securities in one or more transactions. We anticipate the sale to result in an aggregate after-tax loss of approximately $608.6 million.

We have received a favorable opinion of a nationally recognized professional services firm related to our position that the losses described
above should be entitled to ordinary treatment, and our estimates of the financial impact of the contemplated balance sheet repositioning are prepared assuming such treatment. Notwithstanding the opinion, the Internal Revenue Service could determine
that the losses described above should not be entitled

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to ordinary treatment if it determines that any of the representations, assumptions or undertakings contained in the opinion were not accurate or have been violated, or if it disagrees with the
conclusions in the opinion. If, notwithstanding the opinion, the losses described above are determined to not be entitled to ordinary treatment, we could be subject to material amounts of taxes which would have a material adverse effect on our
financial condition and results of operations.

The stock price of financial institutions, like Simmons, may fluctuate significantly.

We cannot predict the prices at which our shares of common stock will continue to trade. You should consider an investment in our common stock
to be risky. The trading price has been, and may in the future be, highly volatile, which may make it difficult for you to resell your shares at the volume, prices and times desired. There are many factors that may affect the market price and
trading volume of our shares of common stock, including, among others, the factors described in this “Risk Factors” section, and other factors, most of which are outside of our control.

Stock markets in general have experienced volatility that has often been