Company: SFNC
Filing Date: 2025-09-09
Form Type: 8-K
Source: 0001193125-25-199266
Chunk: 0

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-09-09
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On September 9, 2025, Simmons First National Corporation (the “ Company”) entered into an underwriting agreement (the “ Underwriting Agreement”) with Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC as representatives of the several underwriters named in Schedule A thereto (the “ Underwriters”), pursuant to which the Company agreed to issue and sell $325 million in aggregate principal amount of subordinated notes (the “ Notes”), to the Underwriters (the “ Offering”).

The Notes sold in the Offering shall, from and including the date of original issuance to, but excluding, October 1, 2030, or the date of earlier redemption (the “ fixed rate period”), bear interest at an initial rate of 6.25% per annum, payable semi-annually in arrears on April 1 and October 1 of each year (each, a “ fixed rate interest payment date”), commencing on April 1, 2026. The last fixed rate interest payment date for the fixed rate period will be October 1, 2030. From and including October 1, 2030 to, but excluding, the Maturity Date or the date of earlier redemption (the “ floating rate period”), the Notes will bear interest at a floating rate per annum equal to the Benchmark rate, which is expected to be Three-Month Term SOFR (each as defined in the Notes), plus 302 basis points for each quarterly interest period during the floating rate period, payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year (each, a “ floating rate interest payment date,” and, together with the fixed rate interest payment dates, the “ interest payment dates”), commencing on January 1, 2031. Notwithstanding the foregoing, if the Benchmark rate is less than zero, the Benchmark rate shall be deemed to be zero.

The Company may redeem some or all of the Notes, at its option, in whole or in part, beginning with the interest payment date of October 1, 2030, and on any interest payment date thereafter, at a redemption price in cash equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest on the Notes to be redeemed to, but excluding, the date of redemption. At the Company’s option, the Company may also redeem all