# EDGAR Filing Document

**Accession Number:** 0000090498
**File Stem:** 0001628280-26-031205
**Filing Date:** 2026-5
**Character Count:** 553759
**Document Hash:** 88adf65d958349cb482e76566f35d5d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-031205.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001628280-26-031205

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 124

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SIMMONS FIRST NATIONAL CORP
- **CENTRAL INDEX KEY:** 0000090498
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 710407808
- **STATE OF INCORPORATION:** AR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-06253
- **FILM NUMBER:** 26948093

**BUSINESS ADDRESS:**
- **STREET 1:** 501 MAIN STREET
- **CITY:** PINE BLUFF
- **STATE:** AR
- **ZIP:** 71601
- **BUSINESS PHONE:** 8705411000

**MAIL ADDRESS:**
- **STREET 1:** 501 MAIN STREET
- **CITY:** PINE BLUFF
- **STATE:** AR
- **ZIP:** 71601

?xml version='1.0' encoding='ASCII'? sfnc-20260331

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 10-Q** 

**(Mark One)**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended March 31, 2026

OR

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from _____ to _____

Commission File Number 000-06253

![slogo.jpg](sfnc-20260331_g1.jpg)**SIMMONS FIRST NATIONAL CORPORATION** 

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Arkansas** | **71-0407808** |
| (State or other jurisdiction of | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |
| **501 Main Street** | **71601** |
| **Pine Bluff** | (Zip Code) |
| **Arkansas** | |
| (Address of principal executive offices) | |

---

**(870) 541-1000** 

(Registrant's telephone number, including area code)

<u>Not Applicable</u>

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, par value $0.01 per share | SFNC | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ <br> Smaller reporting company ☐ Emerging Growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.). ☐ Yes ☒ No

The number of shares outstanding of the Registrant's Common Stock as of May 1, 2026, was 145,064,209.

------

**Simmons First National Corporation**

**Quarterly Report on Form 10-Q**

**March 31, 2026** 

**Table of Contents**

---

| | | |
|:---|:---|:---|
| | | **<u>Page</u>** |
| **<u>[Part I:](#i9ee9cb8680d94420a6df7f07cd429b0a_10)</u>** | **<u>[Financial Information](#i9ee9cb8680d94420a6df7f07cd429b0a_10)</u>** | |
| <u>[Item 1.](#i9ee9cb8680d94420a6df7f07cd429b0a_13)</u> | <u>[Financial Statements (Unaudited)](#i9ee9cb8680d94420a6df7f07cd429b0a_13)</u> | |
| | <u>[Consolidated Balance Sheets](#i9ee9cb8680d94420a6df7f07cd429b0a_16)</u> | <u>[3](#i9ee9cb8680d94420a6df7f07cd429b0a_16)</u> |
| | <u>[Consolidated Statements of Income](#i9ee9cb8680d94420a6df7f07cd429b0a_19)</u> | <u>[4](#i9ee9cb8680d94420a6df7f07cd429b0a_19)</u> |
| | <u>[Consolidated Statements of Comprehensive Income](#i9ee9cb8680d94420a6df7f07cd429b0a_22)</u> | <u>[5](#i9ee9cb8680d94420a6df7f07cd429b0a_22)</u> |
| | <u>[Consolidated Statements of Cash Flows](#i9ee9cb8680d94420a6df7f07cd429b0a_25)</u> | <u>[6](#i9ee9cb8680d94420a6df7f07cd429b0a_25)</u> |
| | <u>[Consolidated Statements of Stockholders' Equity](#i9ee9cb8680d94420a6df7f07cd429b0a_1529)</u> | <u>[7](#i9ee9cb8680d94420a6df7f07cd429b0a_1529)</u> |
| | <u>[Condensed Notes to Consolidated Financial Statements](#i9ee9cb8680d94420a6df7f07cd429b0a_31)</u> | <u>[8](#i9ee9cb8680d94420a6df7f07cd429b0a_31)</u> |
| | <u>[Report of Independent Registered Public Accounting Firm](#i9ee9cb8680d94420a6df7f07cd429b0a_115)</u> | <u>[44](#i9ee9cb8680d94420a6df7f07cd429b0a_115)</u> |
| <u>[Item 2.](#i9ee9cb8680d94420a6df7f07cd429b0a_118)</u> | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i9ee9cb8680d94420a6df7f07cd429b0a_118)</u> | <u>[45](#i9ee9cb8680d94420a6df7f07cd429b0a_118)</u> |
| <u>[Item 3.](#i9ee9cb8680d94420a6df7f07cd429b0a_169)</u> | <u>[Quantitative and Qualitative Disclosures About Market Risk](#i9ee9cb8680d94420a6df7f07cd429b0a_169)</u> | <u>[68](#i9ee9cb8680d94420a6df7f07cd429b0a_169)</u> |
| <u>[Item 4.](#i9ee9cb8680d94420a6df7f07cd429b0a_172)</u> | <u>[Controls and Procedures](#i9ee9cb8680d94420a6df7f07cd429b0a_172)</u> | <u>[70](#i9ee9cb8680d94420a6df7f07cd429b0a_172)</u> |
| **<u>[Part II:](#i9ee9cb8680d94420a6df7f07cd429b0a_175)</u>** | **<u>[Other Information](#i9ee9cb8680d94420a6df7f07cd429b0a_175)</u>** | |
| <u>[Item 1.](#i9ee9cb8680d94420a6df7f07cd429b0a_178)</u> | <u>[Legal Proceedings](#i9ee9cb8680d94420a6df7f07cd429b0a_178)</u> | <u>[70](#i9ee9cb8680d94420a6df7f07cd429b0a_178)</u> |
| <u>[Item 1A.](#i9ee9cb8680d94420a6df7f07cd429b0a_181)</u> | <u>[Risk Factors](#i9ee9cb8680d94420a6df7f07cd429b0a_181)</u> | <u>[70](#i9ee9cb8680d94420a6df7f07cd429b0a_181)</u> |
| <u>[Item 2.](#i9ee9cb8680d94420a6df7f07cd429b0a_184)</u> | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#i9ee9cb8680d94420a6df7f07cd429b0a_184)</u> | <u>[72](#i9ee9cb8680d94420a6df7f07cd429b0a_184)</u> |
| Item 3. | Defaults Upon Senior Securities | \* |
| Item 4. | Mine Safety Disclosures | \* |
| <u>[Item 5.](#i9ee9cb8680d94420a6df7f07cd429b0a_190)</u> | <u>[Other Information](#i9ee9cb8680d94420a6df7f07cd429b0a_190)</u> | <u>[72](#i9ee9cb8680d94420a6df7f07cd429b0a_190)</u> |
| <u>[Item 6.](#i9ee9cb8680d94420a6df7f07cd429b0a_193)</u> | <u>[Exhibits](#i9ee9cb8680d94420a6df7f07cd429b0a_193)</u> | <u>[72](#i9ee9cb8680d94420a6df7f07cd429b0a_193)</u> |
| **<u>[Signatures](#i9ee9cb8680d94420a6df7f07cd429b0a_196)</u>** | | <u>[74](#i9ee9cb8680d94420a6df7f07cd429b0a_196)</u> |

---

___________________

\*&nbsp;&nbsp;&nbsp;&nbsp;No reportable information under this item.

------

**Part I:&nbsp;&nbsp;&nbsp;&nbsp;Financial Information**

**Item 1.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements (Unaudited)**

**Simmons First National Corporation**

**Consolidated Balance Sheets**

**March 31, 2026 and December 31, 2025**

---

| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands, except share data) | 2026 | 2025 |
|  | (Unaudited) |  |
| **ASSETS** |  |  |
| Cash and noninterest bearing balances due from banks | $342603 | $380439 |
| Interest bearing balances due from banks and federal funds sold | 205880 | 331474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 548483 | 711913 |
| Interest bearing balances due from banks - time | 100 | 100 |
| Available-for-sale, (amortized cost of $3,547,987 and $3,642,809 at March 31, 2026 and December 31, 2025, respectively) | 3152286 | 3266221 |
| Mortgage loans held for sale | 14311 | 17438 |
| Assets held in trading accounts | 14543 | 11685 |
| Loans | 17932883 | 17492179 |
| Allowance for credit losses on loans | (229908) | (224377) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | 17702975 | 17267802 |
| Premises and equipment | 557873 | 561220 |
| Foreclosed assets and other real estate owned | 12475 | 12009 |
| Interest receivable | 101557 | 104062 |
| Bank owned life insurance | 542486 | 540001 |
| Goodwill | 1320799 | 1320799 |
| Other intangible assets | 81325 | 84423 |
| Other assets | 643570 | 643204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $24692783 | $24540877 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Deposits: |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest bearing transaction accounts | $4289697 | $4330211 |
| &nbsp;&nbsp;&nbsp;Interest bearing transaction accounts and savings deposits | 11311979 | 11141169 |
| &nbsp;&nbsp;&nbsp;Time deposits | 4601107 | 4712658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 20202783 | 20184038 |
| Federal funds purchased and securities sold under agreements to repurchase | 8708 | 21383 |
| Other borrowings | 446756 | 302253 |
| Subordinated notes and debentures | 315700 | 317714 |
| Accrued interest and other liabilities | 281102 | 296249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 21255049 | 21121637 |
| Stockholders' equity: |  |  |
| Common stock, Class A, $0.01 par value; 350,000,000 shares authorized at March 31, 2026 and December 31, 2025; 145,058,545 and 144,762,817 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively | 1451 | 1448 |
| Surplus | 2848952 | 2846581 |
| Undivided profits | 901696 | 864341 |
| Accumulated other comprehensive loss | (314365) | (293130) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 3437734 | 3419240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $24692783 | $24540877 |

---

See Condensed Notes to Consolidated Financial Statements.

------

**Simmons First National Corporation**

**Consolidated Statements of Income**

**Three Months Ended March 31, 2026 and 2025** 

---

| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands, except per share data) | 2026 | 2025 |
|  | (Unaudited) | (Unaudited) |
| **INTEREST INCOME** |  |  |
| &nbsp;&nbsp;&nbsp;Loans, including fees | $267287 | $257755 |
| &nbsp;&nbsp;&nbsp;Interest bearing balances due from banks and federal funds sold | 2320 | 2703 |
| &nbsp;&nbsp;&nbsp;Investment securities | 31882 | 47257 |
| &nbsp;&nbsp;&nbsp;Mortgage loans held for sale | 203 | 122 |
| &nbsp;&nbsp;&nbsp;Assets held in trading accounts | 122 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL INTEREST INCOME | 301814 | 307837 |
| **INTEREST EXPENSE** |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 97602 | 130454 |
| &nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under agreements to repurchase | 36 | 113 |
| &nbsp;&nbsp;&nbsp;Other borrowings | 1746 | 7714 |
| &nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 5262 | 6134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL INTEREST EXPENSE | 104646 | 144415 |
| **NET INTEREST INCOME** | 197168 | 163422 |
| &nbsp;&nbsp;&nbsp;Provision for credit losses | 14622 | 26797 |
| **NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES** | 182546 | 136625 |
| **NONINTEREST INCOME** |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | 12656 | 12635 |
| &nbsp;&nbsp;&nbsp;Debit and credit card fees | 8503 | 8446 |
| &nbsp;&nbsp;&nbsp;Wealth management fees | 10533 | 9629 |
| &nbsp;&nbsp;&nbsp;Mortgage lending income | 1854 | 2013 |
| &nbsp;&nbsp;&nbsp;Bank owned life insurance income | 4218 | 4092 |
| &nbsp;&nbsp;&nbsp;Other service charges and fees | 1606 | 1333 |
| &nbsp;&nbsp;&nbsp;Other income | 4827 | 8007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL NONINTEREST INCOME | 44197 | 46155 |
| **NONINTEREST EXPENSE** |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 75885 | 74824 |
| &nbsp;&nbsp;&nbsp;Occupancy expense, net | 12218 | 12651 |
| &nbsp;&nbsp;&nbsp;Furniture and equipment expense | 5423 | 5465 |
| &nbsp;&nbsp;&nbsp;Other real estate and foreclosure expense | 315 | 198 |
| &nbsp;&nbsp;&nbsp;Deposit insurance | 2295 | 5391 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 44537 | 46051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL NONINTEREST EXPENSE | 140673 | 144580 |
| **INCOME BEFORE INCOME TAXES** | 86070 | 38200 |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | 17526 | 5812 |
| **NET INCOME** | $68544 | $32388 |
| **BASIC EARNINGS PER SHARE** | $0.47 | $0.26 |
| **DILUTED EARNINGS PER SHARE** | $0.47 | $0.26 |

---

See Condensed Notes to Consolidated Financial Statements.

------

**Simmons First National Corporation**

**Consolidated Statements of Comprehensive Income (Loss)**

**Three Months Ended March 31, 2026 and 2025**

---

| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
|  | (Unaudited) | (Unaudited) |
| **NET INCOME** | $68544 | $32388 |
| **OTHER COMPREHENSIVE INCOME (LOSS)** |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized holding (losses) gains arising during the period on available-for-sale securities | (21781) | 4278 |
| &nbsp;&nbsp;&nbsp;Less: Realized gains on derivative instruments | 6967 | 19186 |
| &nbsp;&nbsp;&nbsp;Less: Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity |  | (5702) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Other comprehensive income (loss), before tax effect** | (28748) | (9206) |
| &nbsp;&nbsp;&nbsp;Less: Tax effect of other comprehensive income (loss) | (7513) | (2406) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL OTHER COMPREHENSIVE INCOME (LOSS)** | (21235) | (6800) |
| **COMPREHENSIVE INCOME** | $47309 | $25588 |

---

See Condensed Notes to Consolidated Financial Statements.

------

**Simmons First National Corporation**

**Consolidated Statements of Cash Flows**

**Three Months Ended March 31, 2026 and 2025** 

---

| | | |
|:---|:---|:---|
| (In thousands) | March 31, 2026 | March 31, 2025 |
|  | (Unaudited) | (Unaudited) |
| **OPERATING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Net income | $68544 | $32388 |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 10004 | 10759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 14622 | 26797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net amortization of investment securities and assets | 1328 | 4214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net amortization on borrowings | 99 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 3572 | 5290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of closed branches |  | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of foreclosed assets and other real estate owned | (23) | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of mortgage loans held for sale | (2057) | (2007) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of loans |  | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 12946 | (1087) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from bank owned life insurance | (4750) | (4099) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations of mortgage loans held for sale | (70852) | (58355) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of mortgage loans held for sale | 76036 | 63428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | 2505 | 5845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held in trading accounts | (2858) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (54258) | (16913) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest and other liabilities | (9535) | (27856) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | (5015) | (5598) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 40308 | 32796 |
| **INVESTING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Net change in loans | (481474) | (106515) |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of loans | 31498 | 8578 |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of closed branches |  | 11077 |
| &nbsp;&nbsp;&nbsp;Purchases of premises and equipment, net | (6269) | (10151) |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of foreclosed assets and other real estate owned | 640 | 1591 |
| &nbsp;&nbsp;&nbsp;Proceeds from maturities of available-for-sale securities | 144754 | 74517 |
| &nbsp;&nbsp;&nbsp;Purchases of available-for-sale securities | (13338) | (7796) |
| &nbsp;&nbsp;&nbsp;Proceeds from maturities of held-to-maturity securities |  | 19112 |
| &nbsp;&nbsp;&nbsp;Purchases of bank owned life insurance |  | (27) |
| &nbsp;&nbsp;&nbsp;Proceeds from bank owned life insurance death benefits | 2265 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (321924) | (9007) |
| **FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Net change in deposits | 18745 | (201130) |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of other borrowed funds | 430000 | 865000 |
| &nbsp;&nbsp;&nbsp;Repayments of other borrowed funds | (285497) | (725509) |
| &nbsp;&nbsp;&nbsp;Dividends paid on common stock | (31189) | (26759) |
| &nbsp;&nbsp;&nbsp;Net change in federal funds purchased and securities sold under agreements to repurchase | (12675) | 13024 |
| &nbsp;&nbsp;&nbsp;Net shares cancelled under stock compensation plans | (2036) | (2342) |
| &nbsp;&nbsp;&nbsp;Shares issued under employee stock purchase plan | 838 | 836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 118186 | (76880) |
| **DECREASE IN CASH AND CASH EQUIVALENTS** | (163430) | (53091) |
| **CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD** | 711913 | 687377 |
| **CASH AND CASH EQUIVALENTS, END OF PERIOD** | $548483 | $634286 |

---

See Condensed Notes to Consolidated Financial Statements.

------

**Simmons First National Corporation**

**Consolidated Statements of Stockholders' Equity**

**Three Months Ended March 31, 2026 and 2025** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (In thousands, except share data) | Common<br>Stock | Surplus | Accumulated<br>Other<br>Comprehensive<br>Income (Loss) | Undivided<br>Profits | Total |
| <u>Three Months Ended March 31, 2026</u> |  |  |  |  |  |
| Balance, December 31, 2025 | $1448 | $2846581 | $(293130) | $864341 | $3419240 |
| &nbsp;&nbsp;&nbsp;Comprehensive (loss) income |  |  | (21235) | 68544 | 47309 |
| &nbsp;&nbsp;Stock issued for employee stock purchase plan – 49,279 shares |  | 838 |  |  | 838 |
| &nbsp;&nbsp;Stock-based compensation plans, net – 246,449 shares | 3 | 1533 |  |  | 1536 |
| &nbsp;&nbsp;Dividends on common stock – $0.2150 per share |  |  |  | (31189) | (31189) |
| Balance, March 31, 2026 (Unaudited) | $1451 | $2848952 | $(314365) | $901696 | $3437734 |
| <u>Three Months Ended March 31, 2025</u> |  |  |  |  |  |
| Balance, December 31, 2024 | $1257 | $2511590 | $(360910) | $1376935 | $3528872 |
| &nbsp;&nbsp;&nbsp;Comprehensive (loss) income |  |  | (6800) | 32388 | 25588 |
| &nbsp;&nbsp;Stock issued for employee stock purchase plan – 46,857 shares |  | 836 |  |  | 836 |
| &nbsp;&nbsp;Stock-based compensation plans, net – 228,425 shares | 2 | 2946 |  |  | 2948 |
| &nbsp;&nbsp;Dividends on common stock – $0.2125 per share |  |  |  | (26759) | (26759) |
| Balance, March 31, 2025 (Unaudited) | $1259 | $2515372 | $(367710) | $1382564 | $3531485 |

---

See Condensed Notes to Consolidated Financial Statements.

------

**SIMMONS FIRST NATIONAL CORPORATION**

**CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS** 

(Unaudited)

**NOTE 1: PREPARATION OF INTERIM FINANCIAL STATEMENTS**

**Description of Business and Organizational Structure**

Simmons First National Corporation ("Company") is a Mid-South financial holding company headquartered in Pine Bluff, Arkansas, and the parent company of Simmons Bank, an Arkansas state-chartered bank that has been in operation since 1903 ("Simmons Bank" or the "Bank"). Simmons First Insurance Services, Inc. and Simmons First Insurance Services of TN, LLC are wholly-owned subsidiaries of Simmons Bank and are insurance agencies that offer various lines of personal and corporate insurance coverage to individual and commercial customers. The Company, through its subsidiaries, offers, among other things, consumer, real estate and commercial loans; checking, savings and time deposits; and specialized products and services (such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and Small Business Administration ("SBA") lending) from approximately 221 financial centers as of March 31, 2026, located throughout market areas in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

**Basis of Presentation**

The accompanying unaudited consolidated financial statements have been prepared based upon Securities and Exchange Commission ("SEC") rules that permit reduced disclosures for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2025, was derived from audited financial statements. In the opinion of management, these financial statements reflect all adjustments that are necessary for a fair presentation of interim results of operations, including normal recurring accruals. Significant intercompany accounts and transactions have been eliminated in consolidation. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on February 25, 2026.

The preparation of financial statements, in accordance with accounting principles generally accepted in the United States ("US GAAP"), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income items and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management's evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements and actual results may differ from these estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of goodwill and subsequent impairment analysis and income taxes. Management obtains third party valuations to assist in valuing certain aspects of these material estimates, as appropriate, including independent appraisals for significant properties in connection with the determination of the allowance for credit losses. Assumptions used in the goodwill impairment analysis involve internally projected forecasts, coupled with market and third-party data. These material estimates could change as a result of the uncertainty in current macroeconomic conditions and other factors that are beyond the Company's control and could cause actual results to differ materially from those projected.

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**Recently Issued Accounting Standards**

<u>Interim Reporting</u> - In December 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2025-11, *Interim Reporting (Topic 270): Narrow-Scope Improvements* ("ASU 2025-11"), that clarifies and enhances guidance on interim financial reporting by (i) clarifying the scope such that it now explicitly applies only to entities that issue complete interim financial statements and related notes under U.S. GAAP, (ii) establishes clear guidance on the form of interim statements and notes, incorporating a comprehensive list of required interim disclosures and (iii) introduces a requirement to disclose material events and changes occurring after the end of the last annual period that could impact interim results. ASU 2025-11 is effective for interim reporting periods with annual reporting periods beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-11 is not expected to have a material impact on the Company's operations, financial position or disclosures.

<u>Derivatives and Hedging</u> - In November 2025, the FASB issued ASU No. 2025-09, *Derivatives and Hedging (Topic 815): Hedge Accounting Improvements* ("ASU 2025-09"), that targets to align hedge accounting more closely with an entity's economic risk management practices. ASU 2025-09 addresses improvements for five specific issues: (i) similar risk assessment for cash flow hedges, (ii) hedging interest payments on choose-your-rate debt, (iii) cash flow hedges of nonfinancial forecasted transactions, (iv) net written options as hedging instruments and (v) foreign currency-denominated debt designated as a hedging instrument and a hedged item. ASU 2025-09 is effective for fiscal years beginning after December 15, 2026, and interim periods within those fiscal years and is not expected to have a material impact on the Company's operations, financial position or disclosures.

<u>Purchased Loans</u> - In November 2025, the FASB issued ASU No. 2025-08, *Financial Instruments-Credit Losses (Topic 326): Purchased Loans* ("ASU 2025-08"), that expands the scope of the "gross-up" method, formerly applicable only to PCD assets, to include acquired non-PCD loans that meet certain criteria, now referred to as purchased seasoned loans ("PSLs"). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan's amortized cost basis, thereby eliminating the day-one credit loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (i) through a business combination or (ii) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 will be effective for the Company, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. The adoption of ASU 2025-08 is not expected to have a material impact on the Company's financial position or disclosures.

<u>Disaggregation of Income Statement Expenses</u> - In November 2024, the FASB issued ASU No. 2024-03, *Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses* ("ASU 2024-03"), that requires footnote disclosure about specific expenses by requiring companies to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization and (v) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities. The tabular disclosure would also include certain other expenses, when applicable. ASU 2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact ASU 2024-03 will have on its results of operations, financial position or disclosures.

There have been no other significant changes to the Company's accounting policies disclosed in Note 1, Summary of Significant Accounting Policies, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Presently, the Company is not aware of any other changes to the Accounting Standards Codification that will have a material impact on its present or future financial position or results of operations.

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**NOTE 2: INVESTMENT SECURITIES**

Held-to-maturity ("HTM") securities, which include any security for which the Company has both the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant effective yield method over the security's estimated life. Prepayments are anticipated for mortgage-backed and SBA securities. Premiums on callable securities are amortized to their earliest call date.

Available-for-sale ("AFS") securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on specifically identified amortized cost of the individual security, are included in other income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders' equity, further discussed below. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant effective yield method over the estimated life of the security. Prepayments are anticipated for mortgage-backed and SBA securities. Premiums on callable securities are amortized to their earliest call date.

Assets held in trading accounts, comprised of U.S. Treasury securities, are purchased with the intent of selling in the near term. Trading securities are carried at fair value with gains and losses included in other income.

During the third quarter of 2025, the Company and its subsidiaries initiated and completed steps taken to reposition the Company's consolidated balance sheet and reclassified approximately $3.59 billion in HTM investment securities to AFS investment securities. Subsequently, the Company sold approximately $3.16 billion in amortized cost basis of AFS securities (including certain of those previously classified as HTM). The sale of investment securities resulted in a realized, after-tax ordinary loss of $625.6 million (based on actual tax rate of 21.946%).

During the quarters ended June 30, 2022 and September 30, 2021, the Company transferred, at fair value, $1.99 billion and $500.8 million, respectively, of securities from the AFS portfolio to the HTM portfolio. No gains or losses on these securities were recognized at the time of transfer. During the balance sheet repositioning that occurred during 2025, the remaining securities were transferred out of the HTM portfolio to the AFS portfolio at fair value and either subsequently sold or maintained within the AFS portfolio.

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of March 31, 2026 or December 31, 2025.

The amortized cost, fair value and allowance for credit losses of investment securities that are classified as AFS are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (In thousands) | Amortized<br>Cost | Allowance <br>for Credit Losses | Gross Unrealized<br>Gains | Gross Unrealized<br>(Losses) | Estimated Fair<br>Value |
| <u>Available-for-sale</u> |  |  |  |  |  |
| <u>March 31, 2026</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government agencies | $46897 | $— | $5 | $(573) | $46329 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities | 2317158 |  | 2096 | (190522) | 2128732 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 1040398 |  | 29 | (201547) | 838880 |
| &nbsp;&nbsp;&nbsp;Other securities | 143534 |  | 67 | (5256) | 138345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total AFS | $3547987 | $— | $2197 | $(397898) | $3152286 |
| <u>December 31, 2025</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government agencies | $47786 | $— | $6 | $(620) | $47172 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities | 2385646 |  | 6072 | (189760) | 2201958 |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 1046121 |  | 42 | (187092) | 859071 |
| &nbsp;&nbsp;&nbsp;Other securities | 163256 |  | 209 | (5445) | 158020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total AFS | $3642809 | $— | $6329 | $(382917) | $3266221 |

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As of March 31, 2026, AFS MBS consisted of $575.7 million and $1.55 billion of commercial MBS and residential MBS, respectively. As of December 31, 2025, AFS MBS consisted of $597.4 million and $1.60 billion of commercial MBS and residential MBS, respectively.

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Accrued interest receivable on AFS securities at March 31, 2026 was $20.8 million, and is included in interest receivable on the consolidated balance sheet. The Company has made the election to exclude all accrued interest receivable from securities from the estimate of credit losses.

The following table summarizes the Company's AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Less Than 12 Months | Less Than 12 Months | 12 Months or More | 12 Months or More | Total | Total |
| (In thousands) | Estimated<br>Fair<br>Value | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value | Gross<br>Unrealized<br>Losses | Estimated<br>Fair<br>Value | Gross<br>Unrealized<br>Losses |
| <u>Available-for-sale</u> |  |  |  |  |  |  |
| <u>March 31, 2026</u> |  |  |  |  |  |  |
| U.S. Government agencies | $1366 | $(1) | $43816 | $(572) | $45182 | $(573) |
| Mortgage-backed securities | 42374 | (441) | 1608061 | (190081) | 1650435 | (190522) |
| State and political subdivisions | 15025 | (1070) | 802113 | (200477) | 817138 | (201547) |
| Other securities | 2000 | (1) | 89321 | (5255) | 91321 | (5256) |
| &nbsp;&nbsp;&nbsp;Total AFS | $60765 | $(1513) | $2543311 | $(396385) | $2604076 | $(397898) |
| <u>December 31, 2025</u> |  |  |  |  |  |  |
| U.S. Government agencies | $2247 | $(17) | $43767 | $(603) | $46014 | $(620) |
| Mortgage-backed securities | 15305 | (74) | 1672723 | (189686) | 1688028 | (189760) |
| State and political subdivisions | 5757 | (969) | 824265 | (186123) | 830022 | (187092) |
| Other securities |  |  | 96176 | (5445) | 96176 | (5445) |
| &nbsp;&nbsp;&nbsp;Total AFS | $23309 | $(1060) | $2636931 | $(381857) | $2660240 | $(382917) |

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As of March 31, 2026, the Company's investment portfolio included $3.15 billion of AFS securities, of which $2.60 billion, or 82.6%, were in an unrealized loss position that were not deemed to have credit losses. A portion of the unrealized losses were related to the Company's MBS, which are issued and guaranteed by U.S. government-sponsored entities and agencies, and the Company's state and political subdivision securities, specifically investments in insured fixed rate municipal bonds for which the issuers continue to make timely principal and interest payments under the contractual terms of the securities.

Furthermore, the decline in fair value for each of the above AFS securities is attributable to the rates for those investments yielding less than current market rates. Management does not believe any of the securities are impaired due to reasons of credit quality. Management believes the declines in fair value for the securities are temporary. Management does not have the immediate intent to sell the securities, and management believes the accounting standard of "more likely than not" has not been met regarding whether the Company would be required to sell any of the AFS securities before recovery of amortized cost.

**Allowance for Credit Losses**

All MBS held by the Company are issued by U.S. government-sponsored entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, highly rated by major rating agencies and have a long history of no credit losses. Accordingly, no allowance for credit losses has been recorded for these securities.

Regarding securities issued by state and political subdivisions and other HTM securities, the adequacy of the reserve for credit loss is determined quarterly based on methodology similar to the methodology for determining the allowance for credit losses on loans. The methodology considers, but is not limited to: (i) issuer bond ratings, (ii) issuer geography, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) probability-weighted multiple scenario forecasts, and (v) the issuers' size.

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As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of March 31, 2026. Activity in the allowance for credit losses by investment security type for the three months ended March 31, 2025 on the Company's HTM securities portfolio was as follows:

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| | | | |
|:---|:---|:---|:---|
| (In thousands) | State and Political Subdivisions | Other<br>Securities | Total |
| **Three Months Ended March 31, 2025** |  |  |  |
| <u>Held-to-maturity</u> |  |  |  |
| Beginning balance, January 1, 2025 | $196 | $3018 | $3214 |
| Provision for credit loss expense |  |  |  |
| Net (decrease) increase in allowance on previously impaired securities | (25) | 25 |  |
| Ending balance, March 31, 2025 | $171 | $3043 | $3214 |

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Based upon the Company's analysis of the underlying risk characteristics of its AFS portfolio, including credit ratings and other qualitative factors, as previously discussed, there was no provision for credit losses related to the Company's AFS portfolio recorded for the three month periods ended March 31, 2026 or 2025.

Income earned on securities for the three months ended March 31, 2026 and 2025, is as follows:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Taxable: |  |  |
| &nbsp;&nbsp;&nbsp;Held-to-maturity | $— | $10399 |
| &nbsp;&nbsp;&nbsp;Available-for-sale | 26311 | 21185 |
| Non-taxable: |  |  |
| &nbsp;&nbsp;&nbsp;Held-to-maturity |  | 10051 |
| &nbsp;&nbsp;&nbsp;Available-for-sale | 5571 | 5622 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $31882 | $47257 |

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The amortized cost and estimated fair value by maturity of AFS securities as of March 31, 2026 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities.

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| | | |
|:---|:---|:---|
| | Available-for-Sale | Available-for-Sale |
| (In thousands) | Amortized<br>Cost | Fair<br>Value |
| One year or less | $9044 | $8945 |
| After one through five years | 99070 | 98511 |
| After five through ten years | 105605 | 99700 |
| After ten years | 1016912 | 816200 |
| Securities not due on a single maturity date | 2317158 | 2128732 |
| Other securities (no maturity) | 198 | 198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $3547987 | $3152286 |

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The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $1.85 billion at March 31, 2026 and $2.04 billion at December 31, 2025.

There were no gross realized gains and no gross realized losses from the call or sale of securities during the three months ended March 31, 2026 and 2025, as they were recognized at book value of the security.

The Company has entered into various hedging transactions to mitigate the impact of changing interest rates on the fair value of AFS securities. See Note 22, Derivative Instruments, for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities.

**NOTE 3: LOANS AND ALLOWANCE FOR CREDIT LOSSES**

At March 31, 2026, the Company's loan portfolio was $17.93 billion, compared to $17.49 billion at December 31, 2025. The various categories of loans are summarized as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Consumer: |  |  |
| &nbsp;&nbsp;&nbsp;Credit cards | $172610 | $175760 |
| &nbsp;&nbsp;&nbsp;Other consumer | 96387 | 115472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 268997 | 291232 |
| Real Estate: |  |  |
| &nbsp;&nbsp;&nbsp;Construction and development | 2621859 | 2873807 |
| &nbsp;&nbsp;&nbsp;Single family residential | 2566162 | 2607450 |
| &nbsp;&nbsp;&nbsp;Other commercial | 8764648 | 8289968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 13952669 | 13771225 |
| Commercial: |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 2521440 | 2382339 |
| &nbsp;&nbsp;&nbsp;Agricultural | 333508 | 306300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 2854948 | 2688639 |
| Other | 856269 | 741083 |
| &nbsp;&nbsp;&nbsp;Total loans | $17932883 | $17492179 |

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The above table presents total loans at amortized cost. The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $2.4 million and $3.3 million at March 31, 2026 and December 31, 2025, respectively, and (ii) deferred origination costs and fees of $6.5 million and $5.4 million at March 31, 2026 and December 31, 2025, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $80.7 million and $80.3 million at March 31, 2026 and December 31, 2025, respectively, and is included in interest receivable on the consolidated balance sheets.

*Loan Origination/Risk Management* – The Company seeks to manage its credit risk by diversifying its loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral; obtaining and monitoring collateral; and providing an adequate allowance for credit losses by regularly reviewing loans through the internal loan review process. The loan portfolio is diversified by borrower, purpose and industry. The Company seeks to use diversification within the loan portfolio to reduce its credit risk, thereby minimizing the adverse impact on the portfolio if weaknesses develop in either the economy or a particular segment of borrowers. Collateral requirements are based on credit assessments of borrowers and may be used to recover the debt in case of default.

*Consumer* – The consumer loan portfolio consists of credit card loans and other consumer loans. Credit card loans are diversified by geographic region to reduce credit risk and minimize any adverse impact on the portfolio. Although they are regularly reviewed to facilitate the identification and monitoring of creditworthiness, credit card loans are unsecured loans, making them more susceptible to economic downturns that result in increased unemployment. Other consumer loans include direct installment loans and account overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures.

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*Real estate* – The real estate loan portfolio consists of construction and development loans ("C&D"), single family residential loans and commercial loans. C&D and commercial real estate ("CRE") loans can be particularly sensitive to valuation of real estate. CRE cycles are inevitable. The long planning and production process for new properties and rapid shifts in business conditions and employment create an inherent tension between supply and demand for commercial properties. While general economic trends often move individual markets in the same direction over time, the timing and magnitude of changes are determined by other forces unique to each market. CRE cycles tend to be local in nature and longer than other credit cycles. Factors influencing the CRE market are traditionally different from those affecting residential real estate markets; thereby making predictions for one market based on the other difficult. Additionally, submarkets within CRE – such as office, industrial, apartment, retail and hotel – also experience different cycles, providing an opportunity to lower the overall risk through diversification across types of CRE loans. Management realizes that local demand and supply conditions will also mean that different geographic areas will experience cycles of different amplitude and duration. The Company monitors these loans closely.

*Commercial* – The commercial loan portfolio includes commercial and agricultural loans, representing loans to commercial customers and farmers for use in normal business or farming operations to finance working capital needs, equipment purchases or other expansion projects. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrowers, particularly cash flow from customers' business or farming operations. The Company continues its efforts to keep loan terms short, reducing the negative impact of upward movement in interest rates. Term loans are generally set up with one or three year balloons, and the Company has instituted a pricing mechanism for commercial loans. It is general practice to require personal guaranties on commercial loans for closely-held or limited liability entities.

*Other* – The other loan portfolio includes mortgage warehouse loans, representing warehouse lines of credit to mortgage originators for the disbursement of newly originated 1-4 family residential loans. Also included in the other loan portfolio are loans to public sector customers, including state and local governments.

*Nonaccrual and Past Due Loans* – Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual status when, in management's opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The amortized cost basis of nonaccrual loans segregated by class of loans are as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Consumer: |  |  |
| &nbsp;&nbsp;&nbsp;Credit cards | $555 | $568 |
| &nbsp;&nbsp;&nbsp;Other consumer | 331 | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 886 | 954 |
| Real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Construction and development | 39354 | 17516 |
| &nbsp;&nbsp;&nbsp;Single family residential | 37279 | 33345 |
| &nbsp;&nbsp;&nbsp;Other commercial | 46065 | 45417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 122698 | 96278 |
| Commercial: |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 16001 | 13458 |
| &nbsp;&nbsp;&nbsp;Agricultural | 1648 | 1098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 17649 | 14556 |
| Other |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $141233 | $111791 |

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As of March 31, 2026 and December 31, 2025, nonaccrual loans for which there was no related allowance for credit losses had an amortized cost of $38.6 million and $18.0 million, respectively. These loans are individually assessed and do not hold an allowance due to being adequately collateralized under the collateral-dependent valuation method.

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An age analysis of the amortized cost basis of past due loans, including nonaccrual loans, segregated by class of loans is as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| (In thousands) | Gross<br>30-89 Days<br>Past Due | 90 Days<br>or More<br>Past Due | Total<br>Past Due | Current | Total<br>Loans | 90 Days<br>Past Due &<br>Accruing |
| <u>March 31, 2026</u> |  |  |  |  |  |  |
| Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit cards | $2448 | $591 | $3039 | $169571 | $172610 | $502 |
| &nbsp;&nbsp;&nbsp;Other consumer | 660 | 226 | 886 | 95501 | 96387 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 3108 | 817 | 3925 | 265072 | 268997 | 502 |
| Real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction and development | 26609 | 37179 | 63788 | 2558071 | 2621859 |  |
| &nbsp;&nbsp;&nbsp;Single family residential | 37398 | 15895 | 53293 | 2512869 | 2566162 |  |
| &nbsp;&nbsp;&nbsp;Other commercial | 28443 | 43521 | 71964 | 8692684 | 8764648 | 145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 92450 | 96595 | 189045 | 13763624 | 13952669 | 145 |
| Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 6500 | 13572 | 20072 | 2501368 | 2521440 |  |
| &nbsp;&nbsp;&nbsp;Agricultural | 1095 | 491 | 1586 | 331922 | 333508 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 7595 | 14063 | 21658 | 2833290 | 2854948 |  |
| Other | 263 |  | 263 | 856006 | 856269 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $103416 | $111475 | $214891 | $17717992 | $17932883 | $647 |
| <u>December 31, 2025</u> |  |  |  |  |  |  |
| Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Credit cards | $2414 | $751 | $3165 | $172595 | $175760 | $697 |
| &nbsp;&nbsp;&nbsp;Other consumer | 1073 | 166 | 1239 | 114233 | 115472 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 3487 | 917 | 4404 | 286828 | 291232 | 697 |
| Real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction and development | 13344 | 17418 | 30762 | 2843045 | 2873807 |  |
| &nbsp;&nbsp;&nbsp;Single family residential | 34731 | 15690 | 50421 | 2557029 | 2607450 |  |
| &nbsp;&nbsp;&nbsp;Other commercial | 10879 | 38047 | 48926 | 8241042 | 8289968 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 58954 | 71155 | 130109 | 13641116 | 13771225 | 148 |
| Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 2755 | 10672 | 13427 | 2368912 | 2382339 | 103 |
| &nbsp;&nbsp;&nbsp;Agricultural | 14 | 598 | 612 | 305688 | 306300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 2769 | 11270 | 14039 | 2674600 | 2688639 | 103 |
| Other |  | 3 | 3 | 741080 | 741083 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $65210 | $83345 | $148555 | $17343624 | $17492179 | $948 |

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*Loan Modifications to Borrowers Experiencing Financial Difficulty*

The Company has internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties may include interest rate reductions, principal or interest forgiveness and/or term extensions. The Company primarily uses interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal.

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The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three month period ended March 31, 2026.

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| | | | | |
|:---|:---|:---|:---|:---|
| | | Percent of | | Percent of |
| | Interest Rate | Total Class | | Total Class |
| (Dollars in thousands) | Reduction | of Loans | Term Extension | of Loans |
| <u>Three Months Ended March 31, 2026</u> |  |  |  |  |
| Consumer: |  |  |  |  |
| &nbsp;&nbsp;Other consumer | $4 | —% | $7 | 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 4 |  | 7 |  |
| Real estate: |  |  |  |  |
| &nbsp;&nbsp;Single family residential | 163 | 0.01% |  | —% |
| &nbsp;&nbsp;Other commercial | 2355 | 0.03% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 2518 |  |  |  |
| Total | $2522 |  | $7 |  |

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The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2026. Furthermore, such modifications did not significantly impact the Company's determination of the allowance for credit losses during the period.

The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three month period ended March 31, 2025.

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| | | |
|:---|:---|:---|
| | | Percent of |
| | Interest Rate | Total Class |
| (Dollars in thousands) | Reduction | of Loans |
| <u>Three Months Ended March 31, 2025</u> |  |  |
| Real estate: |  |  |
| &nbsp;&nbsp;Single family residential | $451 | 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total real estate | $451 |  |

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The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2025. Furthermore, such modifications did not significantly impact the Company's determination of the allowance for credit losses during those periods.

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty. During the three months ended March 31, 2026, there were no loans to borrowers experiencing financial difficulty (modified in the previous twelve months) that had a payment default during the period. There was one CRE loan, related to a downtown St. Louis hotel that was originated pre-pandemic, to a borrower experiencing financial difficulty with a period-end amortized cost basis of $26.7 million that was modified during 2024 which subsequently defaulted during the three months ended March 31, 2025. This CRE loan was placed on nonaccrual status and ultimately charged off during 2025. In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received more than 90 days after its due date.

At March 31, 2026 and December 31, 2025, the Company had $4.1 million and $4.4 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At March 31, 2026 and December 31, 2025, the Company had $3.9 million and $3.6 million, respectively, of Other Real Estate Owned ("OREO") secured by residential real estate properties.

------

*Credit Quality Indicators* – As part of the on-going monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) nonperforming loans (see details above) and (v) the general economic conditions of the Company's local markets.

The Company utilizes a risk rating matrix to assign a risk rate to each of its commercial and real estate loans. Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes including lending management monitoring, executive management and board committee oversight, and independent credit review. A description of the general characteristics of the risk ratings is as follows:

• *Pass (Excellent)* – This category includes loans which are virtually free of credit risk. Borrowers in this category represent the highest credit quality and greatest financial strength.

• *Pass (Good)* - Loans under this category possess a nominal risk of default. This category includes borrowers with strong financial strength and superior financial ratios and trends. These loans are generally fully secured by cash or equivalents (other than those rated "excellent").

• *Pass (Acceptable – Average)* - Loans in this category are considered to possess a normal level of risk. Borrowers in this category have satisfactory financial strength and adequate cash flow coverage to service debt requirements. If secured, the perfected collateral should be of acceptable quality and within established borrowing parameters.

• *Pass (Monitor)* - Loans in the Watch (Monitor) category exhibit an overall acceptable level of risk, but that risk may be increased by certain conditions, which represent "red flags". These "red flags" require a higher level of supervision or monitoring than the normal "Pass" rated credit. The borrower may be experiencing these conditions for the first time, or it may be recovering from weakness, which at one time justified a higher rating. These conditions may include: weaknesses in financial trends; marginal cash flow; one-time negative operating results; non-compliance with policy or borrowing agreements; poor diversity in operations; lack of adequate monitoring information or lender supervision; questionable management ability/stability.

*• Special Mention* - A loan in this category has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. Special Mention loans are not adversely classified (although they are "criticized") and do not expose an institution to sufficient risk to warrant adverse classification. Borrowers may be experiencing adverse operating trends or an ill-proportioned balance sheet. Non-financial characteristics of a Special Mention rating may include management problems, pending litigation, a non-existent or ineffective loan agreement or other material structural weakness, and/or other significant deviation from prudent lending practices.

• *Substandard* - A Substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the loan.

• *Doubtful* - A loan classified Doubtful has all the weaknesses inherent in a substandard loan except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. The possibility of loss is extremely high, but because of specific pending events that may strengthen the asset, its classification as loss is deferred. Pending factors include: proposed merger or acquisition; liquidation procedures; capital injection; perfection of liens on additional collateral; and refinancing plans. Loans classified as Doubtful are placed on nonaccrual status.

• *Loss* - Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loans has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless loan, even though partial recovery may be affected in the future. Borrowers in the Loss category are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Loans should be classified as Loss and charged-off in the period in which they become uncollectible.

------

The Company monitors credit quality in the consumer portfolio by delinquency status. The delinquency status of loans is updated daily. A description of the delinquency credit quality indicators is as follows:

• *Current* - Loans in this category are either current in payments or are under 30 days past due. These loans are considered to have a normal level of risk.

• *30-89 Days Past Due* - Loans in this category are between 30 and 89 days past due and are subject to the Company's loss mitigation process. These loans are considered to have a moderate level of risk.

• *90+ Days Past Due* - Loans in this category are 90 days or more past due and are placed on nonaccrual status. These loans have been subject to the Company's loss mitigation process and foreclosure and/or charge-off proceedings have commenced.

The Company uses a dual risk rating scale that utilizes quantitative models and qualitative factors ("score cards") to assist in determining the appropriate risk rating for its commercial loans. This dual risk rating methodology incorporates a "probability of default" analysis which utilizes quantified metrics such as loan terms and financial performance, as well as a "loss given default" analysis which utilizes collateral values and economics of the market, among other attributes. Model outputs are reviewed and analyzed to ensure the projected risk levels are commensurate with underwriting and credit leader expectations. The risk rating scale includes Probability of Default levels of 1 – 16 and Loss Given Default levels of A – I. The scale allows for more granular recognition of risk and diversification of grading among traditional Pass grades.

The following is a reconciliation between the expanded risk rating scale and the Company's traditional risk rating segments utilized within the commercial loan classes presented in the credit quality indicator tables.

• *Pass* - Includes loans with an expanded risk rating of 1 through 11. Loans with a risk rating of 10 and 11 equate to loans included on management's "watch list" and is intended to be utilized on a temporary basis for pass grade borrowers where a significant risk-modifying action is anticipated in the near term.

• *Special Mention* - Includes loans with an expanded risk rating of 12.

• *Substandard* - Includes loans with an expanded risk rating of 13 and 14.

• *Doubtful and loss* - Includes loans with an expanded risk rating of 15 and 16.

------

The following table presents a summary of loans by credit quality indicator, as of March 31, 2026, segregated by class of loans.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | | | |
| (In thousands) | 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 and Prior | Lines of Credit ("LOC") Amortized Cost Basis | LOC Converted to Term Loans Amortized Cost Basis | Total |
| Consumer - credit cards |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | $— | $— | $— | $— | $— | $— | $169571 | $— | $169571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due |  |  |  |  |  |  | 2448 |  | 2448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  |  |  |  |  |  | 591 |  | 591 |
| *Total consumer - credit cards* |  |  |  |  |  |  | 172610 |  | 172610 |
| &nbsp;&nbsp;*Current-period consumer - credit cards gross charge-offs* |  |  |  |  |  |  | 1677 |  | 1677 |
| Consumer - other |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 20020 | 26085 | 12488 | 5958 | 5362 | 2375 | 23213 |  | 95501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due |  | 156 | 161 | 34 | 170 | 42 | 97 |  | 660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  | 70 | 29 | 16 | 98 | 13 |  |  | 226 |
| *Total consumer - other* | 20020 | 26311 | 12678 | 6008 | 5630 | 2430 | 23310 |  | 96387 |
| &nbsp;&nbsp;*Current-period consumer - other gross charge-offs* |  | 210 | 143 | 56 | 49 | 14 | 54 |  | 526 |
| Real estate - C&D |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 20576 | 139862 | 29110 | 59753 | 32818 | 41271 | 2219290 |  | 2542680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  |  |  |  |  |  | 10162 |  | 10162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  |  | 50 | 44 | 3574 | 46 | 65303 |  | 69017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total real estate - C&D* | 20576 | 139862 | 29160 | 59797 | 36392 | 41317 | 2294755 |  | 2621859 |
| &nbsp;&nbsp;*Current-period real estate - C&D gross charge-offs* |  |  |  | 525 |  | 308 |  |  | 833 |
| Real estate - SF residential |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 54605 | 224651 | 174685 | 250267 | 458676 | 786582 | 563403 |  | 2512869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due | 214 | 2803 | 2949 | 2806 | 6258 | 18781 | 3587 |  | 37398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  | 390 | 757 | 1738 | 5904 | 4644 | 2462 |  | 15895 |
| *Total real estate - SF residential* | 54819 | 227844 | 178391 | 254811 | 470838 | 810007 | 569452 |  | 2566162 |
| &nbsp;&nbsp;*Current-period real estate - SF residential gross charge-offs* |  | 50 | 26 | 299 | 138 |  | 2 |  | 515 |

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------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | | | |
| (In thousands) | 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 and Prior | Lines of Credit ("LOC") Amortized Cost Basis | LOC Converted to Term Loans Amortized Cost Basis | Total |
| Real estate - other commercial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | $371669 | $1402491 | $487630 | $380627 | $1104694 | $1525470 | $3114564 | $— | $8387145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  | 4622 | 12869 | 4061 | 16167 | 10853 | 87788 |  | 136360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  | 3792 | 4470 | 16202 | 31126 | 57651 | 127902 |  | 241143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total real estate - other commercial* | 371669 | 1410905 | 504969 | 400890 | 1151987 | 1593974 | 3330254 |  | 8764648 |
| &nbsp;&nbsp;*Current-period real estate - other commercial gross charge-offs* |  |  | 432 | 1157 |  | 3692 |  |  | 5281 |
| Commercial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 112274 | 311756 | 155136 | 131188 | 138774 | 99232 | 1491117 |  | 2439477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  |  | 73 | 73 | 1367 | 870 | 38664 |  | 41047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  | 1842 | 5907 | 3749 | 1950 | 6268 | 21200 |  | 40916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total commercial* | 112274 | 313598 | 161116 | 135010 | 142091 | 106370 | 1550981 |  | 2521440 |
| &nbsp;&nbsp;*Current-period commercial - gross charge-offs* |  | 447 | 288 | 108 | 85 | 247 |  |  | 1175 |
| Commercial - agriculture |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 27846 | 39531 | 14540 | 11634 | 8255 | 4252 | 225010 |  | 331068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  | 338 |  | 80 | 68 |  | 295 |  | 781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  | 952 | 16 | 99 | 60 | 97 | 435 |  | 1659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total commercial - agriculture* | 27846 | 40821 | 14556 | 11813 | 8383 | 4349 | 225740 |  | 333508 |
| &nbsp;&nbsp;*Current-period commercial - agriculture gross charge-offs* |  | 491 |  |  |  |  |  |  | 491 |
| Other |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 9676 | 97710 | 61364 | 23496 | 125720 | 49097 | 488943 |  | 856006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due |  |  |  | 263 |  |  |  |  | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  |  |  |  |  |  |  |  |  |
| *Total other* | 9676 | 97710 | 61364 | 23759 | 125720 | 49097 | 488943 |  | 856269 |
| &nbsp;&nbsp;*Current-period other - gross charge-offs* |  |  |  |  |  |  | 64 |  | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $616880 | $2257051 | $962234 | $892088 | $1941041 | $2607544 | $8656045 | $— | $17932883 |

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------

The following table presents a summary of loans by credit quality indicator, as of December 31, 2025, segregated by class of loans.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | | | |
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 and Prior | Lines of Credit ("LOC") Amortized Cost Basis | LOC Converted to Term Loans Amortized Cost Basis | Total |
| Consumer - credit cards |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | $— | $— | $— | $— | $— | $— | $172595 | $— | $172595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due |  |  |  |  |  |  | 2414 |  | 2414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  |  |  |  |  |  | 751 |  | 751 |
| *Total consumer - credit cards* |  |  |  |  |  |  | 175760 |  | 175760 |
| &nbsp;&nbsp;*Current-period consumer - credit cards gross charge-offs* |  |  |  |  |  |  | 6370 |  | 6370 |
| Consumer - other |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 61242 | 14933 | 7889 | 6942 | 2029 | 864 | 20334 |  | 114233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due | 315 | 344 | 97 | 244 | 39 |  | 34 |  | 1073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due | 31 | 55 | 34 | 39 | 3 |  | 4 |  | 166 |
| *Total consumer - other* | 61588 | 15332 | 8020 | 7225 | 2071 | 864 | 20372 |  | 115472 |
| &nbsp;&nbsp;*Current-period consumer - other gross charge-offs* | 166 | 933 | 387 | 679 | 64 | 36 | 129 |  | 2394 |
| Real estate - C&D |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 143444 | 32104 | 81866 | 35266 | 22861 | 22127 | 2477812 |  | 2815480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  |  |  |  |  |  | 3281 |  | 3281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  |  | 46 | 3578 | 12 | 39 | 51371 |  | 55046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total real estate - C&D* | 143444 | 32104 | 81912 | 38844 | 22873 | 22166 | 2532464 |  | 2873807 |
| &nbsp;&nbsp;*Current-period real estate - C&D gross charge-offs* |  | 303 |  |  | 4 | 21 | 14 |  | 342 |
| Real estate - SF residential |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 240137 | 180340 | 264324 | 475155 | 254727 | 578426 | 563920 |  | 2557029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due | 2013 | 2087 | 3187 | 8148 | 2080 | 14425 | 2791 |  | 34731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due | 54 | 445 | 2804 | 4983 | 180 | 5024 | 2200 |  | 15690 |
| *Total real estate - SF residential* | 242204 | 182872 | 270315 | 488286 | 256987 | 597875 | 568911 |  | 2607450 |
| &nbsp;&nbsp;*Current-period real estate - SF residential gross charge-offs* |  | 309 | 281 | 122 | 47 | 217 | 269 |  | 1245 |
| Real estate - other commercial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 1417580 | 514130 | 400008 | 1129929 | 864043 | 797780 | 2730301 |  | 7853771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  | 5123 | 2003 | 27132 | 2126 | 5531 | 127576 |  | 169491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard | 4601 | 3600 | 16313 | 20158 | 21763 | 33061 | 167210 |  | 266706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total real estate - other commercial* | 1422181 | 522853 | 418324 | 1177219 | 887932 | 836372 | 3025087 |  | 8289968 |
| &nbsp;&nbsp;*Current-period real estate - other commercial gross charge-offs* | 192 | 5940 | 26 | 293 | 102 | 1215 | 23720 |  | 31488 |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year | | | |
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 and Prior | Lines of Credit ("LOC") Amortized Cost Basis | LOC Converted to Term Loans Amortized Cost Basis | Total |
| Commercial |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | $348879 | $164847 | $142008 | $155170 | $69768 | $37007 | $1390040 | $— | $2307719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention |  | 131 | 600 | 1276 | 174 | 720 | 40752 |  | 43653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard | 3380 | 6054 | 2771 | 1696 | 1598 | 4524 | 10941 |  | 30964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  | 3 |  |  |  |  | 3 |
| *Total commercial* | 352259 | 171032 | 145379 | 158145 | 71540 | 42251 | 1441733 |  | 2382339 |
| &nbsp;&nbsp;*Current-period commercial - gross charge-offs* | 277 | 8849 | 1622 | 5058 | 937 | 9230 | 16229 |  | 42202 |
| Commercial - agriculture |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Risk rating: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pass | 47211 | 16056 | 14185 | 10101 | 3519 | 1793 | 211605 |  | 304470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special mention | 419 | 14 |  | 68 |  |  | 48 |  | 549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Substandard |  | 20 | 99 | 24 | 8 | 120 | 1010 |  | 1281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doubtful and loss |  |  |  |  |  |  |  |  |  |
| *Total commercial - agriculture* | 47630 | 16090 | 14284 | 10193 | 3527 | 1913 | 212663 |  | 306300 |
| &nbsp;&nbsp;*Current-period commercial - agriculture gross charge-offs* |  | 6 | 11 |  |  | 13 | 351 |  | 381 |
| Other |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Delinquency: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current | 100774 | 62625 | 26085 | 126263 | 25475 | 25607 | 374251 |  | 741080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30-89 days past due |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90+ days past due |  |  |  |  |  | 3 |  |  | 3 |
| *Total other* | 100774 | 62625 | 26085 | 126263 | 25475 | 25610 | 374251 |  | 741083 |
| &nbsp;&nbsp;*Current-period other - gross charge-offs* |  |  |  |  |  |  | 240 |  | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $2370080 | $1002908 | $964319 | $2006175 | $1270405 | $1527051 | $8351241 | $— | $17492179 |

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**Allowance for Credit Losses**

*Allowance for Credit Losses* – The allowance for credit losses is a reserve established through a provision for credit losses charged to expense, which represents management's best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations. The allowance, in the judgment of management, is necessary to reserve for expected loan losses and risks inherent in the loan portfolio. The Company's allowance for credit loss methodology includes reserve factors calculated to estimate current expected credit losses to amortized cost balances over the remaining contractual life of the portfolio, adjusted for prepayments, in accordance with ASC Topic 326-20, *Financial Instruments - Credit Losses*. Accordingly, the methodology is comprised of two components: individual assessments on loans with unique risk characteristics and collective assessments for loans that share similar risk characteristics. Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated for collective assessment. The Company uses statistically-based models that leverage assumptions about current and future economic conditions throughout the contractual life of the loan. Expected credit losses are estimated by either lifetime loss rates or expected loss cash flows based on three key parameters: probability-of-default ("PD"), exposure-at-default ("EAD"), and loss-given-default ("LGD"). Future economic conditions are incorporated to the extent that they are reasonable and supportable. Beyond the reasonable and supportable periods, the economic variables revert to a historical equilibrium at a pace dependent on the state of the economy reflected within the economic scenarios. To determine the best estimate of credit losses as of March 31, 2026, the Company utilized a probability-weighted, multiple-scenario approach consisting of Baseline, Upside (S1), and Downside (S3) scenarios published by Moody's Analytics in March 2026 that was updated to reflect the U.S. economic outlook. The Company also includes qualitative adjustments to the allowance based on factors and considerations that have not otherwise been fully accounted for. These factors may include but are not limited to portfolio trends and considerations, other economic considerations, policy actions, concentration risk, or imprecision risk.

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Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated into homogeneous segments for assessment. Reserve factors are based on estimated probability of default and loss given default for each segment. The estimates are determined based on economic forecasts over the reasonable and supportable forecast period based on projected performance of economic variables that have a statistical relationship with the historical loss experience of the segments.

Loans that have unique risk characteristics are evaluated on an individual basis. These evaluations are typically performed on loans with a deteriorated internal risk rating. For a collateral-dependent loan, the Company's evaluation process includes a valuation by appraisal or other collateral analysis adjusted for selling costs, when appropriate. This valuation is compared to the remaining outstanding principal balance of the loan. If a loss is determined to be probable, the loss is included in the allowance for credit losses as a specific allocation.

Loans for which the repayment is expected to be provided substantially through the operation or sale of collateral and where the borrower is experiencing financial difficulty had an amortized cost of $110.4 million and $112.4 million as of March 31, 2026 and December 31, 2025, respectively, as further detailed in the table below. The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.

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| | | | |
|:---|:---|:---|:---|
| (In thousands) | Real Estate Collateral | Other Collateral | Total |
| <u>March 31, 2026</u> |  |  |  |
| Construction and development | $43940 | $— | $43940 |
| Single family residential |  |  |  |
| Other commercial real estate | 64411 |  | 64411 |
| Commercial |  | 2014 | 2014 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $108351 | $2014 | $110365 |
| <u>December 31, 2025</u> |  |  |  |
| Construction and development | $44114 | $— | $44114 |
| Single family residential |  |  |  |
| Other commercial real estate | 66266 |  | 66266 |
| Commercial |  | 1994 | 1994 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $110380 | $1994 | $112374 |

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The following table details activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (In thousands) | Commercial | Real<br>Estate | Credit<br>Card | Other<br>Consumer<br>and Other | Total |
| **Allowance for credit losses:** |  |  |  |  |  |
| <u>Three Months Ended March 31, 2026</u> |  |  |  |  |  |
| Beginning balance, January 1, 2026 | $27998 | $183677 | $5991 | $6711 | $224377 |
| Provision for credit loss expense | 3240 | 10669 | 924 | (211) | 14622 |
| &nbsp;&nbsp;&nbsp;Charge-offs | (1666) | (6629) | (1677) | (590) | (10562) |
| &nbsp;&nbsp;&nbsp;Recoveries | 253 | 449 | 468 | 301 | 1471 |
| Net (charge-offs) recoveries | (1413) | (6180) | (1209) | (289) | (9091) |
| Ending balance, March 31, 2026 | $29825 | $188166 | $5706 | $6211 | $229908 |

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Activity in the allowance for credit losses for the three months ended March 31, 2025 was as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (In thousands) | Commercial | Real<br>Estate | Credit<br>Card | Other<br>Consumer<br>and Other | Total |
| **Allowance for credit losses:** |  |  |  |  |  |
| <u>Three Months Ended March 31, 2025</u> |  |  |  |  |  |
| Beginning balance, January 1, 2025 | $41587 | $181962 | $6007 | $5463 | $235019 |
| Provision for credit loss expense | 1572 | 22443 | 1359 | 1423 | 26797 |
| &nbsp;&nbsp;&nbsp;Charge-offs | (4243) | (4425) | (1460) | (1133) | (11261) |
| &nbsp;&nbsp;&nbsp;Recoveries | 997 | 99 | 211 | 306 | 1613 |
| Net (charge-offs) recoveries | (3246) | (4326) | (1249) | (827) | (9648) |
| Ending balance, March 31, 2025 | $39913 | $200079 | $6117 | $6059 | $252168 |

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As of March 31, 2026, the Company's allowance for credit losses was considered sufficient based upon expected losses that were supported by scenario-weighted economic forecasts. The provision expense for the three months ended March 31, 2026 reflected the impact of loan growth and updated economic assumptions during the period, while the three months ended March 31, 2025 also included an incremental provision expense of $15.6 million related to two specific credit relationships which migrated to nonperforming during the period.

*Reserve for Unfunded Commitments*

In addition to the allowance for credit losses, the Company has established a reserve for unfunded commitments, classified in other liabilities. This reserve is maintained at a level management believes to be sufficient to absorb losses arising from unfunded loan commitments. The reserve for unfunded commitments was $25.6 million for both periods ended March 31, 2026 and December 31, 2025. The adequacy of the reserve for unfunded commitments is determined quarterly based on methodology similar to the methodology for determining the allowance for credit losses. No adjustment was made to the reserve for unfunded commitments during the three month periods ended March 31, 2026 or 2025, as it was considered sufficient to cover any loss expectations.

*Provision for Credit Losses*

Provision for credit losses is determined by the Company as the amount to be added to the allowance for credit loss accounts for various types of financial instruments including loans, securities and off-balance-sheet credit exposure after net charge-offs have been deducted to bring the allowance to a level which, in management's best estimate, is necessary to absorb expected credit losses over the lives of the respective financial instruments.

The components of the provision for credit losses for the three month periods ended March 31, 2026 and 2025 were as follows:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Provision for credit losses related to: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans | $14622 | $26797 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unfunded commitments |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities - HTM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities - AFS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $14622 | $26797 |

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**NOTE 4: RIGHT-OF-USE LEASE ASSETS AND LEASE LIABILITIES**

The Company accounts for its leases in accordance with ASC Topic 842, *Leases*, which requires recognition of most leases, including operating leases, with a term greater than 12 months on the balance sheet. At lease commencement, the lease contract is reviewed to determine whether the contract is a finance lease or an operating lease; a lease liability is recognized on a discounted basis, related to the Company's obligation to make lease payments; and a right-of-use asset is also recognized related to the Company's right to use, or control the use of, a specified asset for the lease term. The Company accounts for lease and non-lease components (such as taxes, insurance and common area maintenance costs) separately as such amounts are generally readily determinable under the lease contracts. Lease payments over the expected term are discounted using the Company's Federal Home Loan Bank ("FHLB") advance rates for borrowings of similar term. If it is reasonably certain that a renewal or termination option will be exercised, the effects of such options are included in the determination of the expected lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term.

The Company's leases are classified as operating leases with a term, including expected renewal or termination options, greater than one year, and are related to certain office facilities and office equipment. The following table presents information as of March 31, 2026 and December 31, 2025 related to the Company's right-of-use lease assets, included in premises and equipment, and lease liabilities, included in accrued interest and other liabilities.

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (Dollars in thousands) | 2026 | 2025 |
| Right-of-use lease assets | $48493 | $51203 |
| Lease liabilities | 50663 | 53212 |
| Weighted average remaining lease term | 8.03 years | 8.04 years |
| Weighted average discount rate | 4.22% | 4.18% |

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Operating lease cost for the three month period ended March 31, 2026 was $3.8 million as compared to $4.1 million for the same period in 2025.

**NOTE 5: PREMISES AND EQUIPMENT**

Premises and equipment are stated at cost less accumulated depreciation and amortization. Total premises and equipment, net at March 31, 2026 and December 31, 2025 were as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Right-of-use lease assets | $48493 | $51203 |
| Premises and equipment: |  |  |
| &nbsp;&nbsp;&nbsp;Land | 119154 | 117172 |
| &nbsp;&nbsp;&nbsp;Buildings and improvements | 432013 | 417866 |
| &nbsp;&nbsp;&nbsp;Furniture, fixtures and equipment | 130971 | 129891 |
| &nbsp;&nbsp;&nbsp;Software | 66185 | 65702 |
| &nbsp;&nbsp;&nbsp;Construction in progress | 14224 | 25966 |
| &nbsp;&nbsp;&nbsp;Accumulated depreciation and amortization | (253167) | (246580) |
| Total premises and equipment, net | $557873 | $561220 |

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**NOTE 6: GOODWILL AND OTHER INTANGIBLE ASSETS**

Goodwill is tested annually, or more often than annually if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the financial statements. Goodwill totaled $1.32 billion at March 31, 2026 and December 31, 2025. Goodwill impairment was neither indicated nor recorded during the three months ended March 31, 2026 or the year ended December 31, 2025.

Core deposit premiums represent the value of the relationships that acquired banks had with their deposit customers and are amortized over periods ranging from 10 years to 15 years and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Other intangible assets represent the value of other acquired relationships, including relationships with trust and wealth management customers, and are being amortized over various periods ranging from 8 years to 15 years.

Changes in the carrying amount and accumulated amortization of the Company's core deposit premiums and other intangible assets at March 31, 2026 and December 31, 2025 were as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Core deposit premiums: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, beginning of year | $76390 | $87575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | (2689) | (11185) |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, end of period | 73701 | 76390 |
| Books of business and other intangibles: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, beginning of year | 8033 | 9667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | (409) | (1634) |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, end of period | 7624 | 8033 |
| Total other intangible assets, net | $81325 | $84423 |

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The carrying basis and accumulated amortization of the Company's other intangible assets at March 31, 2026 and December 31, 2025 were as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Core deposit premiums: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross carrying amount | $147477 | $173305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated amortization | (73776) | (96915) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core deposit premiums, net | 73701 | 76390 |
| Books of business and other intangibles: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross carrying amount | 22068 | 22068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated amortization | (14444) | (14035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Books of business and other intangibles, net | 7624 | 8033 |
| Total other intangible assets, net | $81325 | $84423 |

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The Company's estimated remaining amortization expense on other intangible assets as of March 31, 2026 is as follows:

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| | | |
|:---|:---|:---|
| (In thousands) | Year | Amortization<br>Expense |
|  | Remainder of 2026 | $9249 |
|  | 2027 | 12218 |
|  | 2028 | 11312 |
|  | 2029 | 8563 |
|  | 2030 | 8160 |
|  | Thereafter | 31823 |
|  | Total | $81325 |

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**NOTE 7: TIME DEPOSITS**

Time deposits included approximately $1.42 billion and $1.50 billion of certificates of deposit over $250,000 at March 31, 2026 and December 31, 2025, respectively. Brokered time deposits were $1.91 billion and $1.89 billion at March 31, 2026 and December 31, 2025, respectively.

**NOTE 8: INCOME TAXES**

The provision for income taxes is comprised of the following components for the periods indicated below:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Income taxes currently payable | $4580 | $6899 |
| Deferred income taxes | 12946 | (1087) |
| Provision for income taxes | $17526 | $5812 |

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The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Deferred tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;Loans acquired | $1026 | $1241 |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses | 53760 | 52923 |
| &nbsp;&nbsp;&nbsp;Valuation of foreclosed assets | 31 | 31 |
| &nbsp;&nbsp;&nbsp;Tax NOLs from acquisition | 6684 | 6507 |
| &nbsp;&nbsp;&nbsp;Deferred compensation payable | 3962 | 3960 |
| &nbsp;&nbsp;&nbsp;Accrued equity and other compensation | 5737 | 11626 |
| &nbsp;&nbsp;&nbsp;Acquired securities | 7052 | 7010 |
| &nbsp;&nbsp;&nbsp;Capitalized intangibles<sup>(1)</sup> | 136664 | 145126 |
| &nbsp;&nbsp;&nbsp;Right-of-use lease liability | 12047 | 12653 |
| &nbsp;&nbsp;&nbsp;Unrealized loss on AFS securities | 102933 | 98492 |
| &nbsp;&nbsp;&nbsp;Allowance for unfunded commitments | 6094 | 6094 |
| &nbsp;&nbsp;&nbsp;Other | 6979 | 7488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross deferred tax assets | 342969 | 353151 |
| Deferred tax liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible amortization | (35846) | (36335) |
| &nbsp;&nbsp;&nbsp;Accumulated depreciation | (22050) | (22475) |
| &nbsp;&nbsp;&nbsp;Right-of-use lease asset | (11531) | (12175) |
| &nbsp;&nbsp;&nbsp;Unrealized gain on swaps | (12744) | (14437) |
| &nbsp;&nbsp;&nbsp;Other | (508) | (1271) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross deferred tax liabilities | (82679) | (86693) |
| Net deferred tax asset | $260290 | $266458 |

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_______________________________________

(1)Capitalized intangibles primarily consist of deferred loan origination costs, net with deferred loan origination fees, capitalized under Treas. Reg §1.263(a)-4 and amortized as ordinary deductions over the estimated life of the related loans.

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A reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense is shown for the periods indicated below:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Computed at the statutory rate (21%) | $18075 | $8022 |
| Increase (decrease) in taxes resulting from: |  |  |
| &nbsp;&nbsp;&nbsp;State income taxes, net of federal tax benefit | 1204 | (272) |
| &nbsp;&nbsp;&nbsp;Discrete items related to share-based compensation | 141 | 195 |
| &nbsp;&nbsp;&nbsp;Tax exempt interest income | (1788) | (3808) |
| &nbsp;&nbsp;&nbsp;Tax exempt earnings on BOLI | (939) | (796) |
| &nbsp;&nbsp;&nbsp;Federal tax credits | (545) | (647) |
| &nbsp;&nbsp;&nbsp;Other differences, net | 1378 | 3118 |
| Actual tax provision | $17526 | $5812 |

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The Company follows ASC Topic 740, *Income Taxes*, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC Topic 740 also provides guidance on the accounting for and disclosure of unrecognized tax benefits, interest and penalties. The Company has no history of expiring net operating loss carryforwards and is projecting significant pre-tax and financial taxable income in future years. The Company expects to fully realize its deferred tax assets in the future.

The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current tax year positions, expiration of open income tax returns due to the statutes of limitation, changes in management's judgment about the level of uncertainty, status of examinations, litigation and legislative activity and the addition or elimination of uncertain tax positions.

Section 382 of the Internal Revenue Code imposes an annual limit on the ability of a corporation that undergoes an "ownership change" to use its U.S. net operating losses to reduce its tax liability. The Company has engaged in three tax-free reorganization transactions in which acquired net operating losses are limited pursuant to Section 382. In total, approximately $26.3 million of federal net operating losses subject to the IRC Section 382 annual limitation are expected to be utilized by the Company. All of the acquired net operating loss carryforwards are expected to be fully utilized by 2036.

The Company files income tax returns in the U.S. federal jurisdiction. The Company's U.S. federal income tax returns are open and subject to examinations from the 2022 tax year and forward. The Company's various state income tax returns are generally open from the 2022 and later tax return years based on individual state statute of limitations.

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**NOTE 9: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE**

The Company utilizes securities sold under agreements to repurchase to facilitate the needs of its customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis. The Company may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company's safekeeping agents.

The gross amount of recognized liabilities for repurchase agreements was $8.7 million and $21.0 million at March 31, 2026 and December 31, 2025, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of March 31, 2026 and December 31, 2025 is presented in the following tables:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Remaining Contractual Maturity of the Agreements | Remaining Contractual Maturity of the Agreements | Remaining Contractual Maturity of the Agreements | Remaining Contractual Maturity of the Agreements | Remaining Contractual Maturity of the Agreements |
| (In thousands) | Overnight and<br>Continuous | Up to 30 Days | 30-90 Days | Greater than<br>90 Days | Total |
| <u>March 31, 2026</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase agreements: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government agencies | $8708 | $— | $— | $— | $8708 |
| <u>December 31, 2025</u> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Repurchase agreements: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government agencies | $20983 | $— | $— | $— | $20983 |

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**NOTE 10: OTHER BORROWINGS AND SUBORDINATED NOTES AND DEBENTURES**

Debt at March 31, 2026 and December 31, 2025 consisted of the following components:

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| <u>Other Borrowings</u> |  |  |
| FHLB advances, net of discount, due 2026 to 2032, 3.75% to 5.53% secured by real estate loans | $431552 | $286597 |
| Other long-term debt | 15204 | 15656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other borrowings | 446756 | 302253 |
| <u>Subordinated Notes and Debentures</u> |  |  |
| Subordinated notes payable, due 10/1/2035, fixed-to-floating rate (fixed rate of 6.25% through 9/30/2030, floating rate of 3.02% above the three-month SOFR rate, reset quarterly) | 325000 | 325000 |
| Unamortized debt issuance costs | (3732) | (3831) |
| Valuation adjustments on hedged subordinated notes payable | (5568) | (3455) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total subordinated notes and debentures | 315700 | 317714 |
| Total other borrowings and subordinated debt | $762456 | $619967 |

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In September 2025, the Company issued $325.0 million in aggregate principal amount, of 6.25% Fixed-to-Floating Rate Subordinated Notes ("2025 Notes") at a public offering price equal to 100% of the aggregate principal amount of the 2025 Notes. The Company incurred $3.9 million in debt issuance costs related to the offering during September 2025. The 2025 Notes will mature on October 1, 2035 and will bear interest at an initial fixed rate of 6.25% per annum, payable semi-annually, in arrears. From and including October 1, 2030 to, but excluding, the maturity date or the date of earlier redemption, the interest rate resets quarterly to an annual interest rate equal to the then-current three month SOFR rate plus 302 basis points, payable quarterly, in arrears. Additionally, during the third quarter of 2025, the Company began utilizing interest rate swaps designated as fair value hedges to mitigate the risk of changes in the fair value of the aggregate principal amount of the 2025 Notes due to changes in market interest rates. See Note 22, Derivative Instruments, for further discussion regarding fair value hedges. The 2025 Notes will be subordinated in right of payment to the payment of the Company's other existing and future senior indebtedness, including all of its general creditors. The 2025 Notes are obligations of the Company only and are not obligations of, and are not guaranteed by, any of its subsidiaries. The 2025 Notes qualify for Tier 2 capital treatment.

The Company had total outstanding FHLB advances of $431.6 million and $286.6 million at March 31, 2026 and December 31, 2025, respectively. The outstanding FHLB advances as of March 31, 2026 were primarily whole loan advances, which are due less than one year from origination and therefore were classified as short-term advances by the Company. At March 31, 2026, the FHLB advances outstanding were secured by mortgage loans and investment securities totaling approximately $7.26 billion and the Company had approximately $5.83 billion of additional advances available from the FHLB.

The Company's long-term debt primarily includes subordinated debt and other notes payable. The aggregate contractual annual maturities of long-term debt at March 31, 2026, are as follows:

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| | |
|:---|:---|
| Year | (In thousands) |
| Remainder of 2026 | $1191 |
| 2027 | 1649 |
| 2028 | 2280 |
| 2029 | 9689 |
| 2030 |  |
| Thereafter | 317647 |
| Total | $332456 |

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**NOTE 11: CONTINGENT LIABILITIES**

In the ordinary course of its operations, the Company and its subsidiaries are parties to various legal proceedings incidental to the conduct of its business, including proceedings based on breach of contract claims, lender liability claims, and other ordinary-course claims, some of which seek substantial relief or damages.

The Company establishes reserves for legal proceedings when potential losses become probable and can be reasonably estimated. While the ultimate resolution (including amounts thereof) of any legal proceedings cannot be determined at this time, based on information presently available and after consultation with legal counsel, management believes that the ultimate outcome in such proceedings, either individually or in the aggregate, will not have a material adverse effect on the Company's business, consolidated results of operations, financial condition, or cash flows. It is possible, however, that future developments could result in an unfavorable outcome for or resolution of any of these proceedings, which may be material to the Company's results of operations for a given fiscal period.

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**NOTE 12: CAPITAL STOCK**

On February 27, 2009, at a special meeting, the Company's shareholders approved an amendment to the Articles of Incorporation to establish 40,040,000 authorized shares of preferred stock, $0.01 par value. On April 27, 2022, the Company's shareholders approved amendments to the Company's Articles of Incorporation to remove an $80.0 million cap on the aggregate liquidation preference associated with the preferred stock and increase the number of authorized shares of the Company's Class A common stock from 175,000,000 to 350,000,000.

On October 29, 2019, the Company filed Amended and Restated Articles of Incorporation ("October Amended Articles") with the Arkansas Secretary of State. The October Amended Articles classified and designated Series D Preferred Stock, Par Value $0.01 Per Share ("Series D Preferred Stock"), out of the Company's authorized preferred stock. On November 30, 2021, the Company redeemed all of the Series D Preferred Stock, including accrued and unpaid dividends. On April 27, 2022, the Company's shareholders approved an amendment to the Company's Articles of Incorporation to remove the classification and designation for the Series D Preferred Stock. As of March 31, 2026, there were no shares of preferred stock issued or outstanding.

On May 17, 2024, the Company filed a shelf registration with the SEC. The shelf registration statement provides increased flexibility and more efficient access to raise capital from time to time through the sale of common stock, preferred stock, debt securities, depository shares, warrants, purchase contracts, subscription rights, units or a combination thereof, subject to market conditions. Specific terms and prices are determined at the time of any offering under a separate prospectus supplement that the Company is required to file with the SEC at the time of the specific offering.

On July 23, 2025, the Company closed a public offering of 18,653,000 shares of its Class A common stock, at a price to the public of $18.50 per share, which included 2,433,000 shares of the Company's Class A common stock granted pursuant to the underwriters' option to purchase additional shares at the public offering price, less underwriting discounts.

In January 2024, the Company's Board of Directors authorized a stock repurchase program ("2024 Program") under which the Company could repurchase up to $175.0 million of its Class A common stock currently issued and outstanding. The 2024 Program terminated in January 2026, and the Company's Board of Directors authorized a new stock repurchase program in January 2026 ("2026 Program") under which the Company may repurchase up to $175.0 million of its Class A common stock currently issued and outstanding. The 2026 Program will be executed in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will terminate on January 31, 2028 (unless terminated sooner).

Under the 2026 Program, which replaced the 2024 Program, the Company may repurchase shares of its common stock through open market and privately negotiated transactions or otherwise. The timing, pricing, and amount of any repurchases under the 2026 Program will be determined by the Company's management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the Company's common stock, corporate considerations, the Company's working capital and investment requirements, general market and economic conditions, and legal requirements. The 2026 Program does not obligate the Company to repurchase any common stock and may be modified, discontinued, or suspended at any time without prior notice. The Company anticipates funding for this 2026 Program to come from available sources of liquidity, including cash on hand and future cash flow.

No shares were repurchased during the three month periods ended March 31, 2026 and 2025. Market conditions and the Company's capital needs, among other things, will drive decisions regarding future stock repurchases.

**NOTE 13: UNDIVIDED PROFITS**

Simmons Bank, the Company's subsidiary bank, is subject to legal limitations on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. The approval of the Commissioner of the Arkansas State Bank Department is required if the total of all dividends declared by an Arkansas state bank in any calendar year exceeds seventy-five percent (75%) of the total of its net profits, as defined, for that year combined with seventy-five percent (75%) of its retained net profits of the preceding year. Since Simmons Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by Simmons Bank exceeds its net income to date for that year combined with its retained net profits for the preceding two years. At March 31, 2026, undivided profits of Simmons Bank were approximately $133.6 million, none of which were available for payment of dividends to the Company, without prior regulatory approval.

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The risk-based capital guidelines of the Federal Reserve Board and the Arkansas State Bank Department include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. The criteria for a well-capitalized institution are: a 5% "Tier l leverage capital" ratio, an 8% "Tier 1 risk-based capital" ratio, 10% "total risk-based capital" ratio; and a 6.5% "common equity Tier 1 (CET1)" ratio.

The Company and Simmons Bank must hold a capital conservation buffer of 2.5% composed of CET1 capital above its minimum risk-based capital requirements. Failure to meet this capital conservation buffer would result in additional limits on dividends, other distributions and discretionary bonuses. As of March 31, 2026, the Company and Simmons Bank met all capital adequacy requirements, including the capital conservation buffer, under the Basel III Capital Rules. The Company's CET1 ratio was 11.58% at March 31, 2026.

**NOTE 14: STOCK-BASED COMPENSATION**

The Company's Board of Directors has adopted various stock-based compensation plans, including the 2023 Stock and Incentive Plan that was approved by shareholders and became effective April 18, 2023. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance stock units and stock awards. Pursuant to the plans, shares are reserved for future issuance by the Company upon exercise of stock options or awards of restricted stock, restricted stock units, performance stock units or stock awards granted to directors, officers and other key employees or consultants.

The table below summarizes the transactions under the Company's active stock-based compensation plans for the three months ended March 31, 2026:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Stock Options<br>Outstanding | Stock Options<br>Outstanding | Non-vested Restricted Stock Units Outstanding | Non-vested Restricted Stock Units Outstanding | Non-vested Performance Stock Units Outstanding | Non-vested Performance Stock Units Outstanding |
| (Shares in thousands) | Number<br>of Shares | Weighted<br>Average<br>Exercise<br>Price | Number<br>of Shares | Weighted<br>Average<br>Grant-Date<br>Fair Value | Number<br>of Shares | Weighted<br>Average<br>Grant-Date<br>Fair Value |
| Beginning balance, January 1, 2026 | 62 | $23.51 | 1047 | $20.24 | 512 | $20.84 |
| &nbsp;&nbsp;&nbsp;Granted |  |  | 686 | 19.67 | 255 | 20.12 |
| &nbsp;&nbsp;&nbsp;Stock options exercised |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Stock awards/units vested (earned) |  |  | (342) | 20.41 | (7) | 22.21 |
| &nbsp;&nbsp;&nbsp;Forfeited/expired | (62) | 23.51 | (34) | 19.63 | (190) | 22.21 |
| Balance, March 31, 2026 |  | $— | 1357 | $19.92 | 570 | $19.95 |
| Exercisable, March 31, 2026 |  | $— |  |  |  |  |

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Stock-based compensation expense was $3.6 million and $5.3 million during the three month periods ended March 31, 2026 and 2025, respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards. There was no unrecognized stock-based compensation expense related to stock options at March 31, 2026. Unrecognized stock-based compensation expense related to non-vested stock awards and stock units was $27.2 million at March 31, 2026. At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.2 years.

There was no intrinsic value of stock options outstanding and stock options exercisable at March 31, 2026. Aggregate intrinsic value represents the difference between the Company's closing stock price on the last trading day of the period, which was $19.45 as of March 31, 2026, and the exercise price multiplied by the number of options outstanding. There was no intrinsic value of stock options exercised during the three months ended March 31, 2026 and 2025.

The fair value of the Company's employee stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. There were no stock options granted during the three months ended March 31, 2026 and 2025.

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**NOTE 15: EARNINGS PER SHARE ("EPS")**

Basic EPS is computed by dividing reported net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common stockholders by the weighted average common shares and all potential dilutive common shares outstanding during the period.

The computation of earnings per share is as follows:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands, except per share data) | 2026 | 2025 |
| Net income available to common stockholders | $68544 | $32388 |
| Average common shares outstanding | 144899 | 125800 |
| Average potential dilutive common shares | 441 | 537 |
| Average diluted common shares | 145340 | 126337 |
| Basic earnings per share | $0.47 | $0.26 |
| Diluted earnings per share | $0.47 | $0.26 |

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There were no stock options excluded from the three months ended March 31, 2026 earnings per share calculation as there were no outstanding stock options as of March 31, 2026. There were 317,660 stock options excluded from the earnings per share calculation for the three months ended March 31, 2025 due to the related stock option exercise price exceeding the average market price of the Company's stock during the period.

**NOTE 16: ADDITIONAL CASH FLOW INFORMATION**

The following is a summary of the Company's additional cash flow information:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Interest paid | $104419 | $158890 |
| Income taxes paid | 92 | 445 |
| Transfers of loans to foreclosed assets held for sale | 1083 | 1210 |

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**NOTE 17: OTHER INCOME AND OTHER OPERATING EXPENSES**

Other income for the three months ended March 31, 2026 and 2025 was $4.8 million and $8.0 million, respectively.

Other operating expenses consisted of the following:

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| | | |
|:---|:---|:---|
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Professional services | $7161 | $4867 |
| Postage | 2288 | 2280 |
| Telephone | 1514 | 1479 |
| Credit card expense | 3107 | 3029 |
| Marketing | 6700 | 6826 |
| Software and technology | 11057 | 10036 |
| Operating supplies | 286 | 627 |
| Amortization of intangibles | 3097 | 3527 |
| Branch right sizing expense | 531 | 994 |
| Other expense | 8796 | 12386 |
| &nbsp;&nbsp;&nbsp;Total other operating expenses | $44537 | $46051 |

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**NOTE 18: OPERATING SEGMENTS**

Operating segments are components of an enterprise about which separate financial information is available that is regularly evaluated by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company is organized with community and commercial banking groups. Each of these groups provide one or more similar banking services, including such products and services as loans; time deposits, checking and savings accounts; treasury management; and credit cards. Loan products include consumer, real estate, commercial, agricultural, equipment, warehouse lending and SBA lending. The individual banking groups have similar operating and economic characteristics. While the CODM monitors the revenue streams of the various products, services, branch locations, divisions and groups, operations are managed, financial performance is evaluated, and management makes decisions on how to allocate resources, on a Company-wide basis. Accordingly, the respective groups are considered by management to be aggregated into one reportable operating segment.

The Company also considers its wealth group, which provides trust and investment services, as well as insurance services, to be operating segments. Information on these segments is not reported separately since they do not meet the quantitative thresholds under ASC Topic 280-10-50-12, and, as a result, are reported within "Other" in the following table.

The Company's CODM is the chief executive officer. The CODM evaluates the performance of the Company's reportable operating segments using net interest income and net income. The CODM analyzes on the spread between interest revenue and interest expense (net interest income) to assess performance and to allocate operating and capital resources. Therefore, interest revenue is presented net of interest expense. Additionally, the CODM reviews budgeted net income versus actual net income of the Company to allocate resources to meet the Company's strategic objectives.

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The following table provides a summary of the Company's reportable operating segment results for the three months ended March 31, 2026 and 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, 2026 | March 31, 2026 | March 31, 2026 | March 31, 2025 | March 31, 2025 | March 31, 2025 |
| (In thousands) | Community and Commercial Banking | Other | Consolidated | Community and Commercial Banking | Other | Consolidated |
| Net interest income | $196682 | $486 | $197168 | $162872 | $550 | $163422 |
| Noninterest income | 33587 | 10610 | 44197 | 36359 | 9796 | 46155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net revenue | 230269 | 11096 | 241365 | 199231 | 10346 | 209577 |
| Noninterest expense: |  |  |  |  |  |  |
| &nbsp;&nbsp;Salaries and employee benefits | 70969 | 4916 | 75885 | 70024 | 4800 | 74824 |
| &nbsp;&nbsp;Occupancy expense, net | 11756 | 462 | 12218 | 12174 | 477 | 12651 |
| &nbsp;&nbsp;Furniture and equipment expense | 5423 |  | 5423 | 5465 |  | 5465 |
| &nbsp;&nbsp;Deposit insurance | 2295 |  | 2295 | 5391 |  | 5391 |
| &nbsp;&nbsp;Other operating expenses <sup>(1)</sup> | 43271 | 1581 | 44852 | 44919 | 1330 | 46249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 133714 | 6959 | 140673 | 137973 | 6607 | 144580 |
| Income before provision for credit losses and income taxes | 96555 | 4137 | 100692 | 61258 | 3739 | 64997 |
| Provision for credit losses | 14622 |  | 14622 | 26797 |  | 26797 |
| Income tax expense | 17522 | 4 | 17526 | 5802 | 10 | 5812 |
| Net income | $64411 | $4133 | $68544 | $28659 | $3729 | $32388 |
| (In thousands) | Community and Commercial Banking | Other | Consolidated |  |  |  |
| Assets as of: |  |  |  |  |  |  |
| &nbsp;&nbsp;March 31, 2026 | $24687988 | $4795 | $24692783 |  |  |  |
| &nbsp;&nbsp;March 31, 2025 | $26785600 | $7391 | $26792991 |  |  |  |

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_________________________

(1)&nbsp;&nbsp;&nbsp;&nbsp;Other operating expenses primarily include professional services, marketing, software and technology, amortization of intangibles and other general operating expenses.

**NOTE 19: CERTAIN TRANSACTIONS**

From time to time, the Company and its subsidiaries have made loans, other extensions of credit, and vendor contracts to directors, officers, their associates and members of their immediate families. Additionally, some directors, officers and their associates and members of their immediate families have placed deposits with the Company's subsidiary bank, Simmons Bank. Such loans and other extensions of credit, deposits and vendor contracts (which were not material) were made in the ordinary course of business, on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with unrelated persons or through a competitive bid process. Further, in management's opinion, these extensions of credit did not involve more than normal risk of collectability or present other unfavorable features.

**NOTE 20: COMMITMENTS AND CREDIT RISK**

The Company grants agribusiness, commercial and residential loans to customers primarily throughout Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas, along with credit card loans to customers throughout the United States. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management's credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate.

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At March 31, 2026, the Company had outstanding commitments to extend credit aggregating approximately $800.4 million and $4.40 billion for credit card commitments and other loan commitments, respectively. At December 31, 2025, the Company had outstanding commitments to extend credit aggregating approximately $799.4 million and $4.19 billion for credit card commitments and other loan commitments, respectively.

As of March 31, 2026, the Company had outstanding commitments to originate fixed-rate mortgage loans of approximately $28.4 million. At December 31, 2025, the Company had outstanding commitments to originate fixed-rate mortgage loans of approximately $20.5 million. The commitments extend over varying periods of time with the majority being disbursed within a thirty-day period.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Company had total outstanding letters of credit amounting to $71.0 million and $72.9 million at March 31, 2026 and December 31, 2025, respectively, with terms ranging from 9 months to 15 years. At March 31, 2026 and December 31, 2025, the Company had no deferred revenue under standby letter of credit agreements.

The Company has purchased letters of credit from the FHLB as security for certain public deposits. The amount of the letters of credit was $993.2 million and $785.4 million at March 31, 2026 and December 31, 2025, respectively, and they expire in less than one year from issuance.

**NOTE 21: FAIR VALUE MEASUREMENTS**

ASC Topic 820, *Fair Value Measurements* defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements.

ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance also establishes a fair value hierarchy that requires the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. ASC Topic 820 describes three levels of inputs that may be used to measure fair value:

• *Level 1 Inputs* – Quoted prices in active markets for identical assets or liabilities.

• *Level 2 Inputs* – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

• *Level 3 Inputs* – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and the Company's creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company's valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below.

Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy.

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*Available-for-sale and trading securities* – Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and certain other financial products. Other securities classified as available-for-sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security's terms and conditions, among other things. In order to ensure the fair values are consistent with ASC Topic 820, the Company periodically checks the fair values by comparing them to another pricing source, such as Bloomberg. The availability of pricing confirms Level 2 classification in the fair value hierarchy. The third-party pricing service is subject to an annual review of internal controls. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. The Company's investment in U.S. Treasury securities, if any, is reported at fair value utilizing Level 1 inputs. The remainder of the Company's available-for-sale securities are reported at fair value utilizing Level 2 inputs.

*Mortgage loans held for sale* – Mortgage loans held for sale are reported at fair value on an aggregate basis. Adjustments to fair value are recognized monthly and reflected in earnings. In determining the fair value of loans held for sale, the Company may consider outstanding investor commitments, discounted cash flow analyses with market assumptions or the fair value of the collateral if the loan is collateral dependent. Such loans are classified within either Level 2 or Level 3 of the fair value hierarchy. Where assumptions are made using significant unobservable inputs, such loans held for sale are classified as Level 3. At March 31, 2026 and December 31, 2025, the aggregate fair value of mortgage loans held for sale exceeded their cost.

*Derivative instruments* – The Company's derivative instruments are reported at fair value utilizing Level 2 inputs. The Company obtains fair value measurements from dealer quotes.

The following table sets forth the Company's financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| | | Fair Value Measurements Using | Fair Value Measurements Using | Fair Value Measurements Using |
| (In thousands) | Fair Value | Quoted Prices in<br>Active Markets for<br>Identical Assets<br>(Level 1) | Significant Other<br>Observable Inputs<br>(Level 2) | Significant<br>Unobservable Inputs<br>(Level 3) |
| <u>March 31, 2026</u> |  |  |  |  |
| Available-for-sale securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government agencies | $46329 | $— | $46329 | $— |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities | 2128732 |  | 2128732 |  |
| &nbsp;&nbsp;&nbsp;State and political subdivisions | 838880 |  | 838880 |  |
| &nbsp;&nbsp;&nbsp;Other securities | 138345 |  | 138345 |  |
| Mortgage loans held for sale | 14311 |  |  | 14311 |
| Assets held in trading accounts | 14543 | 14543 |  |  |
| Derivative asset | 83688 |  | 83688 |  |
| Derivative liability | (36783) |  | (36783) |  |
| <u>December 31, 2025</u> |  |  |  |  |
| Available-for-sale securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government agencies | $47172 | $— | $47172 | $— |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities | 2201958 |  | 2201958 |  |
| &nbsp;&nbsp;&nbsp;States and political subdivisions | 859071 |  | 859071 |  |
| &nbsp;&nbsp;&nbsp;Other securities | 158020 |  | 158020 |  |
| Mortgage loans held for sale | 17438 |  |  | 17438 |
| Assets held in trading accounts | 11685 | 11685 |  |  |
| Derivative asset | 87463 |  | 87463 |  |
| Derivative liability | (31522) |  | (31522) |  |

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Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Assets and liabilities measured at fair value on a nonrecurring basis include the following:

*Individually assessed loans (collateral-dependent)* – When the Company has a specific expectation to initiate, or has initiated, foreclosure proceedings, and when the repayment of a loan is expected to be substantially dependent on the liquidation of underlying collateral, the relationship is deemed collateral-dependent. Fair value of the loan is determined by establishing an allowance for credit loss for any exposure based on the valuation of the underlying collateral. The valuation of the collateral is determined by either an independent third-party appraisal or other collateral analysis. Discounts can be made by the Company based upon the overall evaluation of the independent appraisal. Collateral-dependent loans are classified within Level 3 of the fair value hierarchy due to the unobservable inputs used in determining their fair value such as collateral values and the borrower's underlying financial condition. Collateral values supporting the individually assessed loans are evaluated quarterly for updates to appraised values or adjustments due to non-current valuations.

*Foreclosed assets and other real estate owned* – Foreclosed assets and other real estate owned are reported at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company's recorded investment in the related loan, a write-down is recognized through a charge to the allowance for credit losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets and other real estate owned is estimated using Level 3 inputs based on unobservable market data.

The significant unobservable inputs (Level 3) used in the fair value measurement of collateral for collateral-dependent loans and foreclosed assets primarily relate to the specialized discounting criteria applied to the borrower's reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the collateral, as well as other factors which may affect the collectability of the loan. Management's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset. It is reasonably possible that a change in the estimated fair value for instruments measured using Level 3 inputs could occur in the future. As the Company's primary objective in the event of default would be to liquidate the collateral to settle the outstanding balance of the loan, collateral that is less marketable would receive a larger discount.

The following table sets forth the Company's assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of March 31, 2026 and December 31, 2025.

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| | | | | |
|:---|:---|:---|:---|:---|
| | | Fair Value Measurements Using | Fair Value Measurements Using | Fair Value Measurements Using |
| (In thousands) | Fair Value | Quoted Prices in<br>Active Markets for<br>Identical Assets<br>(Level 1) | Significant Other<br>Observable Inputs<br>(Level 2) | Significant<br>Unobservable Inputs<br>(Level 3) |
| <u>March 31, 2026</u> |  |  |  |  |
| Individually assessed loans <sup>(1) (2)</sup> (collateral-dependent) | $110365 | $— | $— | $110365 |
| Foreclosed assets and other real estate owned <sup>(1)</sup> | 3346 |  |  | 3346 |
| <u>December 31, 2025</u> |  |  |  |  |
| Individually assessed loans <sup>(1) (2)</sup> (collateral-dependent) | $112374 | $— | $— | $112374 |
| Foreclosed assets and other real estate owned <sup>(1)</sup> | 1081 |  |  | 1081 |

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(1)These amounts represent the resulting carrying amounts on the consolidated balance sheets for collateral-dependent loans and foreclosed assets and other real estate owned for which fair value re-measurements took place during the period.

(2)Identified reserves of $8.2 million and $9.1 million were related to collateral-dependent loans for which fair value re-measurements took place during the periods ended March 31, 2026 and December 31, 2025, respectively.

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ASC Topic 825, *Financial Instruments*, requires disclosure in annual and interim financial statements of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The following methods and assumptions were used to estimate the fair value of each class of financial instruments not previously disclosed.

*Cash and cash equivalents* – The carrying amount for cash and cash equivalents approximates fair value (Level 1).

*Interest bearing balances due from banks* – The fair value of interest bearing balances due from banks – time is estimated using a discounted cash flow calculation that applies the rates currently offered on deposits of similar remaining maturities (Level 2).

*Loans* – The fair value of loans is estimated by discounting the future cash flows, using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Additional factors considered include the type of loan and related collateral, variable or fixed rate, classification status, remaining term, interest rate, historical delinquencies, loan to value ratios, current market rates and remaining loan balance. The loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans were based on current market rates for new originations of similar loans. Estimated credit losses were also factored into the projected cash flows of the loans. The fair value of loans is estimated on an exit price basis incorporating the above factors (Level 3).

*Deposits* – The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date (i.e., their carrying amount) (Level 2). The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities (Level 3).

*Federal Funds purchased, securities sold under agreement to repurchase and short-term debt* – The carrying amount for federal funds purchased, securities sold under agreement to repurchase and short-term debt are a reasonable estimate of fair value (Level 2).

*Other borrowings* – For short-term instruments, the carrying amount is a reasonable estimate of fair value. For long-term debt, rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value (Level 2).

*Subordinated debentures* – The fair value of subordinated debentures is estimated using the rates that would be charged for subordinated debentures of similar remaining maturities (Level 2).

*Accrued interest receivable/payable* – The carrying amounts of accrued interest approximated fair value (Level 2).

*Commitments to extend credit, letters of credit and lines of credit* – The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date.

The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company's various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

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The estimated fair values, and related carrying amounts, of the Company's financial instruments are as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Carrying | Fair Value Measurements | Fair Value Measurements | Fair Value Measurements | Fair Value Measurements |
| (In thousands) | Amount | Level 1 | Level 2 | Level 3 | Total |
| <u>March 31, 2026</u> |  |  |  |  |  |
| Financial assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $548483 | $548483 | $— | $— | $548483 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing balances due from banks - time | 100 |  | 100 |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | 101557 |  | 101557 |  | 101557 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | 17702975 |  |  | 17527125 | 17527125 |
| Financial liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest bearing transaction accounts | 4289697 |  | 4289697 |  | 4289697 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing transaction accounts and savings deposits | 11311979 |  | 11311979 |  | 11311979 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 4601107 |  |  | 4588801 | 4588801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under agreements to repurchase | 8708 |  | 8708 |  | 8708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 446756 |  | 445953 |  | 445953 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 315700 |  | 325562 |  | 325562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest payable | 34910 |  | 34910 |  | 34910 |
| <u>December 31, 2025</u> |  |  |  |  |  |
| Financial assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $711913 | $711913 | $— | $— | $711913 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing balances due from banks - time | 100 |  | 100 |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | 104062 |  | 104062 |  | 104062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, net | 17267802 |  |  | 17056124 | 17056124 |
| Financial liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest bearing transaction accounts | 4330211 |  | 4330211 |  | 4330211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing transaction accounts and savings deposits | 11141169 |  | 11141169 |  | 11141169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 4712658 |  |  | 4704667 | 4704667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under agreements to repurchase | 21383 |  | 21383 |  | 21383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other borrowings | 302253 |  | 301500 |  | 301500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 317714 |  | 328419 |  | 328419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest payable | 34683 |  | 34683 |  | 34683 |

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The fair value of commitments to extend credit, letters of credit and lines of credit is not presented since management believes the fair value to be insignificant.

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**NOTE 22: DERIVATIVE INSTRUMENTS**

The Company utilizes derivative instruments to manage exposure to various types of interest rate risk for itself and its customers within policy guidelines. Transactions should only be entered into with an associated underlying exposure. All derivative instruments are carried at fair value.

Derivative contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have an investment grade credit rating and be approved by the Company's asset/liability management committee. In arranging these products for its customers, the Company assumes additional credit risk from the customer and from the dealer counterparty with whom the transaction is undertaken. Credit risk exists due to the default credit risk created in the exchange of the payments over a period of time. Credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps with each counterparty. Access to collateral in the event of default is reasonably assured. Therefore, credit exposure may be reduced by the amount of collateral pledged by the counterparty.

*Hedge Structures*

The Company will seek to enter derivative structures that most effectively address the risk exposure and structural terms of the underlying position being hedged. The term and notional principal amount of a hedge transaction will not exceed the term or principal amount of the underlying exposure. In addition, the Company will use hedge indices which are the same as, or highly correlated to, the index or rate on the underlying exposure. Derivative credit exposure is monitored on an ongoing basis for each customer transaction and aggregate exposure to each counterparty is tracked. The Company has set a maximum outstanding notional contract amount at 25% of the Company's assets.

*Fair Value Hedges*

For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. During the third quarter of 2021, the Company began utilizing interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate callable AFS securities. The hedging strategy converts the fixed interest rates to variable interest rates based on federal funds rates. The two year forward start date for these swaps occurred during late third quarter of 2023 and involves the payment of fixed interest rates with a weighted average of 1.21% in exchange for variable interest rates based on federal funds rates. For the three month period ended March 31, 2026, the net amount included in interest income on investment securities in the consolidated statements of income related to fair value hedges was $6.2 million.

During the third quarter of 2025, the Company began utilizing step-down interest rate swaps designated as fair value hedges to mitigate the risk of changes in the fair value of the $325.0 million in aggregate principal amount of the 2025 Notes due to changes in market interest rates. These receive-fixed/pay-variable swaps have maturities ranging from 2026 to 2030 and the fixed interest rate decreases in predetermined intervals over the contractual term of the agreement.

The following table summarizes the fair value hedges recorded in the accompanying consolidated balance sheets.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
| (In thousands) | Balance Sheet Location | Weighted Average Pay Rate | Receive Rate | Notional | Fair Value | Notional | Fair Value |
| Derivative assets | Other assets | 1.21% | Federal Funds | $1001715 | $61119 | $1001715 | $59829 |
| Derivative liabilities | Accrued interest and other liabilities | Daily WA SOFR | 3.07% - 3.56% | 325000 | (5408) | 325000 | (3337) |

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The following amounts were recorded on the balance sheet related to carrying amounts and cumulative basis adjustments for fair value hedges:

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| | | | | |
|:---|:---|:---|:---|:---|
| | Carrying Amount of Hedged Assets/Liabilities | Carrying Amount of Hedged Assets/Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/Liabilities |
| Line Item on the Balance Sheet (In thousands) | March 31, 2026 | December 31, 2025 | March 31, 2026 | December 31, 2025 |
| Investment securities - Available-for-sale | $967974 | $970976 | $61302 | $60013 |
| Subordinated debentures | 315700 | 317714 | (5568) | (3455) |

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*Cash Flow Hedges*

For derivative instruments that are designated and qualify as a cash flow hedge, the aggregate fair value of the derivative instrument is recorded in other assets or other liabilities with any gain or loss related to changes in fair value recorded in accumulated other comprehensive income (loss), net of tax. The gain or loss is reclassified into earnings in the same period during which the hedged asset or liability affects earnings and is presented in the same income statement line item as the earnings effect of the hedged asset or liability. During the third quarter of 2025, the Company executed step-down interest rate swaps on certain variable rate loans within the CRE and commercial and industrial portfolios with maturity dates ranging from 2026 to 2029 and certain securities within the variable rate commercial MBS portfolio with maturity dates ranging from 2026 to 2027. These receive-fixed/pay-variable swaps are used to manage variability in future cash flows related to interest rate exposure within each portfolio.

The following table summarizes the cash flow hedges recorded in the accompanying consolidated balance sheets:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
| (In thousands) | Balance Sheet Location | Weighted Average Pay Rate | Receive Rate | Notional | Fair Value | Notional | Fair Value |
| Variable rate loans | Other assets | 1M CME Term SOFR | 3.18% - 4.05% | $1000000 | $(7962) | $1000000 | $(919) |
| Variable rate commercial MBS | Other assets | SOFR 30A | 3.07% - 3.82% | 300000 | (897) | 300000 | 317 |

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The following table summarizes the cash flow hedges relationships on the statement of comprehensive income (loss).

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| | | |
|:---|:---|:---|
| | Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) | Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) |
| | Three Months Ended<br>March 31, | Three Months Ended<br>March 31, |
| (In thousands) | 2026 | 2025 |
| Variable rate loans | $(7042) | $— |
| Variable rate commercial MBS | (1214) |  |

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The cash flow hedges were determined to be highly effective during the periods presented and as a result qualify for hedge accounting treatment.

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*Customer Risk Management Interest Rate Swaps*

The Company's qualified loan customers have the opportunity to participate in its interest rate swap program for the purpose of managing interest rate risk on their variable rate loans with the Company. The Company enters into such agreements with customers, then offsetting agreements are executed between the Company and an approved dealer counterparty to minimize market risk from changes in interest rates. The counterparty contracts are identical to customer contracts in terms of notional amounts, interest rates, and maturity dates, except for a fixed pricing spread or fee paid to the Company by the dealer counterparty. These interest rate swaps carry varying degrees of credit, interest rate and market or liquidity risks. The fair value of these derivative instruments is recognized as either derivative assets or liabilities in the accompanying consolidated balance sheets. The Company has a limited number of swaps that are standalone without a similar agreement with the loan customer.

The following table summarizes the fair values of loan derivative contracts recorded in the accompanying consolidated balance sheets.

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| | | | | |
|:---|:---|:---|:---|:---|
| | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
| (In thousands) | Notional | Fair Value | Notional | Fair Value |
| Derivative assets | $1381209 | $22379 | $1190958 | $26734 |
| Derivative liabilities | 1382101 | 22326 | 1191858 | 26682 |

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*Risk Participation Agreements*

The Company has a limited number of Risk Participation Agreement swaps, that are associated with loan participations, where the Company is not the counterparty to the interest rate swaps that are associated with the risk participation sold. The interest rate swap mark to market only impacts the Company if the swap is in a liability position to the counterparty and the customer defaults on payments to the counterparty. The notional amount of these contingent agreements is $12.4 million as of March 31, 2026.

*Energy Hedging*

The Company, from time-to-time, has provided energy derivative services to qualifying, high quality oil and gas borrowers for hedging purposes. The Company has served as an intermediary on energy derivative products between the Company's borrowers and dealers. The Company will only enter into back-to-back trades, thus maintaining a balanced book between the dealer and the borrower.

The energy hedging risk exposure to the Company's customer would increase as energy prices for crude oil and natural gas rise. As prices decrease, exposure to the exchange would increase. These risks are mitigated by customer credit underwriting policies and establishing a predetermined hedge line for each borrower and by monitoring the exchange margin.

The Company has no outstanding notional values related to energy hedge swap contracts as of March 31, 2026. Currently, the Company generally does not intend to offer hedging services to any remaining energy related customers.

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**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Shareholders, Board of Directors and Audit Committee

Simmons First National Corporation

Pine Bluff, Arkansas

***Results of Review of Interim Financial Information***

We have reviewed the consolidated balance sheet of Simmons First National Corporation and subsidiaries (the "Company") as of March 31, 2026, and the related consolidated statements of income, comprehensive income (loss), stockholders' equity and cash flows for the three month periods ended March 31, 2026 and 2025, and the related notes (collectively referred to as the "interim financial information"). Based on our reviews, we are not aware of any material modifications that should be made to the interim financial information referred to above for it to be in conformity with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), the consolidated balance sheet of the Company and subsidiaries as of December 31, 2025, and the related consolidated statements of income (loss), comprehensive income (loss), stockholders' equity and cash flows for the year then ended (not presented herein), and in our report dated February 25, 2026, we expressed an unqualified opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying consolidated balance sheet as of December 31, 2025, is fairly stated, in all material respects, in relation to the consolidated balance sheet from which it has been derived.

***Basis for Review Results***

These interim financial statements are the responsibility of the Company's management. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our review in accordance with the standards of the PCAOB. A review of interim financial statements consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

/s/ Forvis Mazars, LLP

Little Rock, Arkansas

May 6, 2026

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**Item 2.&nbsp;&nbsp;&nbsp;&nbsp;Management's Discussion and Analysis of Financial Condition and Results of Operations**

As permitted by SEC rules, management presents a sequential quarterly analysis of the Company's performance as we believe that comparing current quarter results to those of the immediately preceding fiscal quarter is more useful in identifying current business trends and provides a more relevant analysis of our business results. Accordingly, we have compared our results of operations for the three months ended March 31, 2026 to our results of operations for the three months ended December 31, 2025 and March 31, 2025, as applicable, throughout this Management's Discussion and Analysis of Financial Condition and Results of Operations.

**<u>OVERVIEW</u>**

Our net income for the three months ended March 31, 2026 was $68.5 million, or $0.47 diluted earnings per share, compared to net income of $78.1 million, or $0.54 diluted earnings per share, and $32.4 million, or $0.26 diluted earnings per share, for the three months ended December 31, 2025 and March 31, 2025, respectively. Included in the results were certain items related to our branch right sizing initiative, early retirement program costs (for the three months ended March 31, 2026), professional services (for the three months ended March 31, 2026), a FDIC special assessment (for the three months ended March 31, 2026), termination of vendor and software services (for the three months ended December 31, 2025) and loss on sale of an equipment finance business (for the three months ended December 31, 2025). Excluding these certain items and the tax effect, adjusted earnings for the three months ended March 31, 2026 were $68.6 million, or $0.47 adjusted diluted earnings per share, compared to $79.0 million, or $0.54 adjusted diluted earnings per share, and $33.1 million, or $0.26 adjusted diluted earnings per share, for the three months ended December 31, 2025 and March 31, 2025, respectively.

We believe the asset quality in our portfolio remains sound and reflects our conservative credit culture, as well as our focus on maintaining disciplined pricing and conservative underwriting standards given the current economic environment. Total nonperforming loans as of March 31, 2026, December 31, 2025, and March 31, 2025 were $141.9 million, $112.7 million, and $152.4 million, respectively. Nonperforming assets as a percent of total assets were 0.63% at March 31, 2026, compared to 0.51% at December 31, 2025 and 0.61% at March 31, 2025.

As of March 31, 2026, stockholders' equity was $3.44 billion, book value per share was $23.70 and tangible book value per share was $14.03.

Total loans were $17.93 billion at March 31, 2026, compared to $17.49 billion at December 31, 2025. Our unfunded commitments were $4.07 billion and $3.87 billion as of March 31, 2026 and December 31, 2025, respectively. Our commercial loan pipeline totaled $1.56 billion as of March 31, 2026, compared to $1.54 billion at December 31, 2025.

In our discussion and analysis of our financial condition and results of operation in this Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations," we provide certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States ("US GAAP"). We believe the presentation of non-GAAP financial measures provides a meaningful basis for period-to-period and company-to-company comparisons, which we believe will assist investors and analysts in analyzing the adjusted financial measures of the Company and predicting future performance. See the *GAAP Reconciliation of Non-GAAP Financial Measures* section below for additional discussion and reconciliations of non-GAAP measures.

Simmons First National Corporation is a Mid-South based financial holding company that, as of March 31, 2026, has approximately $24.7 billion in consolidated assets and, through its subsidiaries, conducts financial operations in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

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**<u>CRITICAL ACCOUNTING ESTIMATES</u>**

**Overview**

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. While we base estimates on historical experience, current information and other factors deemed to be relevant, actual results could differ from those estimates.

We consider accounting estimates to be critical to reported financial results if (i) the accounting estimate requires management to make assumptions about matters that are highly uncertain and (ii) different estimates that management reasonably could have used for the accounting estimate in the current period, or changes in the accounting estimate that are reasonably likely to occur from period to period, could have a material impact on our financial statements.

The accounting policies that we view as critical to us are those relating to estimates and judgments regarding (a) the determination of the adequacy of the allowance for credit losses, (b) acquisition accounting and valuation of loans, (c) the valuation of goodwill and the useful lives applied to intangible assets and (d) income taxes.

**Allowance for Credit Losses**

The allowance for credit losses is a reserve established through a provision for credit losses charged to expense, which represents management's best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations. The allowance, in the judgment of management, is necessary to reserve for expected credit losses and risks inherent in the loan portfolio. Our allowance for credit loss methodology includes reserve factors calculated to estimate current expected credit losses to amortized cost balances over the remaining contractual life of the portfolio, adjusted for prepayments, in accordance with Accounting Standards Codification ("ASC") Topic 326-20, *Financial Instruments - Credit Losses*. Accordingly, the methodology is based on our reasonable and supportable economic forecasts, historical loss experience and other qualitative adjustments. For further information see the section *Allowance for Credit Losses* below.

Our evaluation of the allowance for credit losses is inherently subjective as it requires material estimates. The actual amounts of credit losses realized in the near term could differ from the amounts estimated in arriving at the allowance for credit losses reported in the financial statements.

**Acquisition Accounting, Loans**

We account for our acquisitions under ASC Topic 805, *Business Combinations*, which requires the use of the acquisition method of accounting. All identifiable assets acquired, including loans, are recorded at fair value. The fair value for acquired loans at the time of acquisition is based on a variety of factors including discounted expected cash flows, adjusted for estimated prepayments and credit losses. In accordance with ASC 326, the fair value adjustment is recorded as a premium or discount to the unpaid principal balance of each acquired loan. Loans that have been identified as having experienced a more-than-insignificant deterioration in credit quality since origination are purchased credit deteriorated ("PCD") loans.

The net premium or discount on PCD loans is adjusted by our allowance for credit losses recorded at the time of acquisition. The remaining net premium or discount is accreted or amortized into interest income over the remaining life of the loan using a constant yield method. The net premium or discount on loans that are not classified as PCD ("non-PCD"), that includes credit and non-credit components, is accreted or amortized into interest income over the remaining life of the loan using a constant yield method. We then record the necessary allowance for credit losses on the non-PCD loans through provision for credit losses expense.

**Goodwill and Intangible Assets**

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that also lack physical substance but can be separately distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. We perform an annual goodwill impairment test, and more than annually if circumstances warrant, in accordance with ASC Topic 350, *Intangibles – Goodwill and Other*, as amended by ASU 2011-08 – T*esting Goodwill for Impairment* and ASU 2017-04 - *Intangibles – Goodwill and Other*. ASC Topic 350 requires that goodwill and intangible assets that have indefinite lives be reviewed for impairment annually or more frequently if certain conditions occur. Our assessment depends on several assumptions which are dependent on market and economic conditions. Impairment losses on recorded goodwill, if any, will be recorded as operating expenses.

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To quantitatively test goodwill for impairment, a present value of discounted cash flows calculation is completed and relies on several assumptions that have a level of subjectivity and judgment. These assumptions are dependent on market and economic conditions. Key inputs to estimate terminal fair value of the Company include projected forecasts, noninterest expense savings and a pricing multiple based on a group of peer banks with similar characteristics. These inputs are discounted by the cost of equity, which includes assumptions involving our beta; equity risk, size and company premiums; and the 20-year treasury rate. Assumptions used in calculating the cost of equity are obtained from market and third-party data. Results are compared to book value; no impairment was indicated as of March 31, 2026. Judgment is inherent in assessing goodwill for impairment. The various assumptions used in assessing goodwill for impairment involve uncertainties that are beyond our control and could cause actual results to differ materially from those projected.

**Income Taxes**

We are subject to the federal income tax laws of the United States, and the tax laws of the states and other jurisdictions where we conduct business. Due to the complexity of these laws, taxpayers and the taxing authorities may subject these laws to different interpretations. Management must make conclusions and estimates about the application of these innately intricate laws, related regulations, and case law. When preparing the Company's income tax returns, management attempts to make reasonable interpretations of the tax laws. Taxing authorities have the ability to challenge management's analysis of the tax law or any reinterpretation management makes in its ongoing assessment of facts and the developing case law. Management assesses the reasonableness of its effective tax rate quarterly based on its current estimate of net income and the applicable taxes expected for the full year. On a quarterly basis, management also reviews circumstances and developments in tax law affecting the reasonableness of deferred tax assets and liabilities and reserves for contingent tax liabilities.

**<u>NET INTEREST INCOME</u>**

**Overview**

Net interest income, our principal source of earnings, is the difference between the interest income generated by earning assets and the total interest cost of the deposits and borrowings obtained to fund those assets. Factors that determine the level of net interest income include the volume of earning assets and interest bearing liabilities, yields earned and rates paid, the level of nonperforming loans and the amount of noninterest bearing liabilities supporting earning assets. Net interest income is analyzed in the discussion and tables below on a fully taxable equivalent basis. The adjustment to convert certain income to a fully taxable equivalent basis consists of dividing tax-exempt income by one minus the combined federal and state income tax rate of 26.135%.

Our practice is to limit exposure to interest rate movements by maintaining a significant portion of earning assets and interest bearing liabilities in short-term repricing. In the last several years, on average, approximately 48% of our loan portfolio and approximately 94% of our time deposits have repriced in one year or less. As of March 31, 2026, our interest rate sensitivity shows that approximately 63% of our loans and 96% of our time deposits will reprice in the next year.

**Net Interest Income - Sequential Quarter Analysis**

For both three month periods ended March 31, 2026 and December 31, 2025, net interest income on a fully taxable equivalent basis totaled $200.2 million. While net interest income was flat over the comparative periods, fully taxable equivalent interest income and interest expense each decreased by $5.6 million during the three months ended March 31, 2026.

The decrease in interest income on a fully taxable equivalent basis primarily resulted from a $3.5 million decrease in interest income on loans, coupled with a decrease of $2.0 million in interest income on investment securities. The decrease in interest income provided by loans reflects a $9.1 million decrease related to loan yield, partially offset by a $5.6 million increase attributable to loan volume. The loan yield for the first quarter of 2026 was 6.16% compared to 6.23% from the preceding sequential quarter, representing a 7 basis point decrease. The decrease in interest income on investment securities was primarily related to a $1.9 million decrease in interest income on taxable investment securities, which reflects a $913,000 decrease due to the decline in our investment portfolio average balances, coupled with a decrease of $1.0 million in interest income on taxable investment securities due to yield decreases over the period of 7 basis points.

The $5.6 million decrease in interest expense is primarily due to the $4.9 million decrease in interest expense on deposits. A decrease of $7.8 million was related to deposit rates, due to the 15 basis point decrease related to deposit accounts. The decrease due to rates was partially offset by a $2.9 million increase in interest expense attributable to deposit volume over the period.

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**Net Interest Income - Year-over-Year Analysis**

Net interest income on a fully taxable equivalent basis for the three month period ended March 31, 2026 increased $30.3 million, or 17.9%, over the same period in 2025. The increase in net interest income on a fully taxable equivalent basis was the result of a $9.4 million decrease in fully taxable equivalent interest income, more than offset by a $39.8 million decrease in interest expense.

Several factors contributed to the increase in net interest income on a fully taxable equivalent basis over the comparative period. During 2025, we completed a balance sheet repositioning that included the transfer of approximately $3.6 billion investment securities classified as held-to-maturity ("HTM") to the available-for-sale ("AFS") investment securities portfolio, with a subsequent sale of approximately $3.2 billion in amortized cost basis of low-yielding AFS securities (including certain of those previously classified as HTM). Proceeds from the sale of the investment securities were primarily used to deleverage the balance sheet through the pay-down of higher rate, non-relationship wholesale and public fund deposits, as well as higher rate other borrowings primarily consisting of FHLB advances. The pay-down of higher rate funding was completed in 2025.

The decrease in interest income on a fully taxable equivalent basis primarily resulted from a $18.9 million decrease in interest income on investment securities, which reflects a $27.6 million decrease in interest income on investment securities due to the decline in our investment portfolio average balances, which decreased by $2.92 billion or 47.5%. The decrease was partially offset by an increase of $8.6 million in interest income on investment securities due to yield increases over the period of 81 basis points and 43 basis points for our taxable and non-taxable investment security portfolios, respectively. These changes were primarily due to the balance sheet repositioning previously discussed, coupled with pay downs and maturities over the period. A $9.7 million increase in interest income on loans reflects an increase attributable to loan volume of $11.2 million, partially offset by a $1.5 million decrease in interest income related to loan yield due to a 4 basis point decline in loan yield over the comparative period.

The $39.8 million decrease in interest expense is mainly due to the decrease in our deposit account rates over the period. Interest expense decreased $20.1 million due to the decrease in rate of 58 basis points on interest-bearing deposit accounts. A $13.6 million decrease in interest expense was related to the decrease in time deposit volume over the period. Further, a decrease of $6.0 million in interest expense was related to reductions in the amounts outstanding under and rates on wholesale borrowings sources over the comparative period. The decline in wholesale borrowings volume, including brokered time deposits, is largely due to the balance sheet repositioning. We continually monitor and look for opportunities to fairly reprice our deposits while remaining competitive in this current challenging rate environment.

**Net Interest Margin**

Our net interest margin on a fully taxable equivalent basis was 3.84% for the three month period ended March 31, 2026, as compared to 3.81% and 2.95% for the three months ended December 31, 2025 and the three months ended March 31, 2025, respectively. Net interest margin experienced a 3 basis point increase for the three months ended March 31, 2026 compared to the preceding sequential quarter, while net interest margin increased 89 basis points during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. While net interest margin expanded slightly during the three months ended March 31, 2026 as compared to the prior sequential quarter, the increase on a year over year comparative basis was primarily driven by the balance sheet repositioning, as well as reduced deposit costs and use of wholesale funding over the comparative periods.

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**Net Interest Income Tables**

Tables 1 and 2 reflect an analysis of net interest income on a fully taxable equivalent basis for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

**Table 1: Analysis of Net Interest Margin**

*(FTE = Fully Taxable Equivalent using an effective tax rate of 26.135%)*

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| | | | |
|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, | December 31, | March 31, |
| (In thousands) | 2026 | 2025 | 2025 |
| Interest income | $301814 | $307531 | $307837 |
| FTE adjustment | 3012 | 2890 | 6414 |
| Interest income – FTE | 304826 | 310421 | 314251 |
| Interest expense | 104646 | 110235 | 144415 |
| Net interest income – FTE | $200180 | $200186 | $169836 |
| Yield on earning assets – FTE | 5.84% | 5.90% | 5.47% |
| Cost of interest bearing liabilities | 2.57% | 2.72% | 3.17% |
| Net interest spread – FTE | 3.27% | 3.18% | 2.30% |
| Net interest margin – FTE | 3.84% | 3.81% | 2.95% |

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**Table 2: Changes in Fully Taxable Equivalent Net Interest Margin** 

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| | | |
|:---|:---|:---|
| | Three Months Ended | Three Months Ended |
| (In thousands) | March 31, 2026 compared to December 31, 2025 | March 31, 2026 compared to March 31, 2025 |
| Increase (decrease) due to change in earning assets | $4994 | $(16012) |
| (Decrease) increase due to change in earning asset yields | (10589) | 6587 |
| (Decrease) increase due to change in interest bearing liabilities | (2606) | 18391 |
| Increase due to change in interest rates paid on interest bearing liabilities | 8195 | 21378 |
| &nbsp;&nbsp;&nbsp;(Decrease) increase in net interest income | $(6) | $30344 |

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Table 3 shows, for each major category of earning assets and interest bearing liabilities, the average (computed on a daily basis) amount outstanding, the interest earned or expensed on such amount and the average rate earned or expensed for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The table also shows the average rate earned on all earning assets, the average rate expensed on all interest bearing liabilities, the net interest spread and the net interest margin for the same periods. The analysis is presented on a fully taxable equivalent basis. Nonaccrual loans were included in average loans for the purpose of calculating the rate earned on total loans.

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**Table 3: Average Balance Sheets and Net Interest Income Analysis**

*(FTE = Fully Taxable Equivalent using an effective tax rate of 26.135%)*

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, 2026 | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 | December 31, 2025 | March 31, 2025 | March 31, 2025 | March 31, 2025 |
| | Average | Income/ | Yield/ | Average | Income/ | Yield/ | Average | Income/ | Yield/ |
| (In thousands) | Balance | Expense | Rate (%) | Balance | Expense | Rate (%) | Balance | Expense | Rate (%) |
| **<u>ASSETS</u>** |  |  |  |  |  |  |  |  |  |
| Earning assets: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest bearing balances due from banks and federal funds sold | $251620 | $2320 | 3.74 | $232046 | $2485 | 4.25 | $241021 | $2703 | 4.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities - taxable | 2408546 | 26311 | 4.43 | 2490444 | 28235 | 4.50 | 3540559 | 31584 | 3.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment securities - non-taxable | 820278 | 7542 | 3.73 | 810597 | 7578 | 3.71 | 2608070 | 21217 | 3.30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage loans held for sale | 13800 | 203 | 5.97 | 15738 | 227 | 5.72 | 8142 | 122 | 6.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held in trading accounts | 13748 | 122 | 3.60 | 12534 | 118 | 3.74 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans - including fees | 17658807 | 268328 | 6.16 | 17295415 | 271778 | 6.23 | 16920050 | 258625 | 6.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | 21166799 | 304826 | 5.84 | 20856774 | 310421 | 5.90 | 23317842 | 314251 | 5.47 |
| Non-earning assets | 3366206 |  |  | 3397673 |  |  | 3360786 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $24533005 |  |  | $24254447 |  |  | $26678628 |  |  |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** | **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |
| Liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest bearing transaction and savings deposits | $11328148 | $57653 | 2.06 | $10971959 | $60516 | 2.19 | $11177550 | $67895 | 2.46 |
| &nbsp;&nbsp;&nbsp;Time deposits | 4678058 | 39949 | 3.46 | 4573502 | 41989 | 3.64 | 6160429 | 62559 | 4.12 |
| &nbsp;&nbsp;&nbsp;Total interest bearing deposits | 16006206 | 97602 | 2.47 | 15545461 | 102505 | 2.62 | 17337979 | 130454 | 3.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under agreements to repurchase | 17743 | 36 | 0.82 | 20990 | 57 | 1.08 | 39797 | 113 | 1.15 |
| &nbsp;&nbsp;&nbsp;Other borrowings | 192345 | 1746 | 3.68 | 217996 | 2138 | 3.89 | 706402 | 7714 | 4.43 |
| &nbsp;&nbsp;&nbsp;Subordinated debt and debentures | 318635 | 5262 | 6.70 | 319162 | 5535 | 6.88 | 366312 | 6134 | 6.79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest bearing liabilities | 16534929 | 104646 | 2.57 | 16103609 | 110235 | 2.72 | 18450490 | 144415 | 3.17 |
| Noninterest bearing liabilities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Noninterest bearing deposits | 4229952 |  |  | 4412009 |  |  | 4342948 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities | 297864 |  |  | 328812 |  |  | 320721 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 21062745 |  |  | 20844430 |  |  | 23114159 |  |  |
| Stockholders' equity | 3470260 |  |  | 3410017 |  |  | 3564469 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $24533005 |  |  | $24254447 |  |  | $26678628 |  |  |
| Net interest spread – FTE |  |  | 3.27 |  |  | 3.18 |  |  | 2.30 |
| Net interest margin – FTE |  | $200180 | 3.84 |  | $200186 | 3.81 |  | $169836 | 2.95 |

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Table 4 shows changes in interest income and interest expense resulting from changes in both volume and interest rates for the three months ended March 31, 2026 as compared to the three months ended December 31, 2025 and March 31, 2025, respectively. The changes in interest rate and volume have been allocated to changes in average volume and changes in average rates in proportion to the relationship of absolute dollar amounts of the changes in rates and volume.

**Table 4: Volume/Rate Analysis** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, 2026 compared to December 31, 2025 | March 31, 2026 compared to December 31, 2025 | March 31, 2026 compared to December 31, 2025 | March 31, 2026 compared to March 31, 2025 | March 31, 2026 compared to March 31, 2025 | March 31, 2026 compared to March 31, 2025 |
| (In thousands, on a fully taxable equivalent basis) | Volume | Yield/<br>Rate | Total | Volume | Yield/<br>Rate | Total |
| Increase (decrease) in: |  |  |  |  |  |  |
| Interest income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest bearing balances due from banks and federal funds sold | $199 | $(364) | $(165) | $115 | $(498) | $(383) |
| &nbsp;&nbsp;&nbsp;Investment securities - taxable | (913) | (1011) | (1924) | (11430) | 6157 | (5273) |
| &nbsp;&nbsp;&nbsp;Investment securities - non-taxable | 91 | (127) | (36) | (16136) | 2461 | (13675) |
| &nbsp;&nbsp;&nbsp;Mortgage loans held for sale | (29) | 5 | (24) | 83 | (2) | 81 |
| &nbsp;&nbsp;&nbsp;Assets held in trading accounts | 10 | (6) | 4 | 122 |  | 122 |
| &nbsp;&nbsp;&nbsp;Loans - including fees | 5636 | (9086) | (3450) | 11234 | (1531) | 9703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 4994 | (10589) | (5595) | (16012) | 6587 | (9425) |
| Interest expense: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest bearing transaction and savings accounts | 1920 | (4783) | (2863) | 904 | (11146) | (10242) |
| &nbsp;&nbsp;&nbsp;Time deposits | 943 | (2983) | (2040) | (13611) | (8999) | (22610) |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds purchased and securities sold under agreements to repurchase | (8) | (13) | (21) | (51) | (26) | (77) |
| &nbsp;&nbsp;&nbsp;Other borrowings | (240) | (152) | (392) | (4845) | (1123) | (5968) |
| &nbsp;&nbsp;&nbsp;Subordinated notes and debentures | (9) | (264) | (273) | (788) | (84) | (872) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 2606 | (8195) | (5589) | (18391) | (21378) | (39769) |
| Increase (decrease) in net interest income | $2388 | $(2394) | $(6) | $2379 | $27965 | $30344 |

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**<u>PROVISION FOR CREDIT LOSSES</u>**

The provision for credit losses represents management's determination of the amount necessary to be charged against the current period's earnings in order to maintain the allowance for credit losses at a level considered appropriate in relation to the estimated lifetime risk inherent in the loan portfolio. The level of provision to the allowance is based on management's judgment, with consideration given to the composition, maturity and other qualitative characteristics of the portfolio, assessment of current economic conditions, reasonable and supportable forecasts, past due and nonperforming loans and historical net credit loss experience. It is management's practice to review the allowance on a monthly basis and, after considering the factors previously noted, to determine the level of provision made to the allowance.

The provision for credit losses for the three months ended March 31, 2026 was $14.6 million as compared to $15.1 million for the three months ended December 31, 2025 and $26.8 million for the same period ended March 31, 2025. Provision expense for each period was related to loans and reflected loan growth in the quarters, as well as the impact of updated economic assumptions. The provision expense for the three months ended March 31, 2025 also reflected a provision expense of $15.6 million related to two specific credit relationships which migrated to nonperforming during the period.

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**<u>NONINTEREST INCOME</u>**

Noninterest income is principally derived from recurring fee income, which includes service charges, wealth management fees and debit and credit card fees. Noninterest income also includes income on the sale of mortgage loans, income from the increase in cash surrender values of bank owned life insurance and gains (losses) from sales of securities.

For the three month period ended March 31, 2026, total noninterest income was $44.2 million, a decrease of approximately $7.5 million or 14.5%, compared to the three month period ended December 31, 2025 and a decrease of $2.0 million or 4.2%, as compared to the three months ended March 31, 2025. The decrease for the three month period ended March 31, 2026 as compared to both prior comparative quarters is largely due to a $2.1 million Small Business Investment Company ("SBIC") negative valuation adjustment recorded during the three months ended March 31, 2026. During the prior sequential quarter, proceeds of $3.3 million in bank owned life insurance death benefits were recorded, which further contributed to the decrease between comparative periods. These adjustments are included in "Other income" in the table below.

Table 5 shows noninterest income for the three month periods ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively, as well as changes between periods.

**Table 5: Noninterest Income**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | | | | |
| | March 31, | December 31, | March 31, | Change from Quarter - Sequential | Change from Quarter - Sequential | Change from Quarter - Year-over-Year | Change from Quarter - Year-over-Year |
| (Dollars in thousands) | 2026 | 2025 | 2025 | Change from Quarter - Sequential | Change from Quarter - Sequential | Change from Quarter - Year-over-Year | Change from Quarter - Year-over-Year |
| Service charges on deposit accounts | $12656 | $12669 | $12635 | $(13) | (0.1)% | $21 | 0.2% |
| Debit and credit card fees | 8503 | 8660 | 8446 | (157) | (1.8) | 57 | 0.7 |
| Wealth management fees | 10533 | 10337 | 9629 | 196 | 1.9 | 904 | 9.4 |
| Mortgage lending income | 1854 | 2232 | 2013 | (378) | (16.9) | (159) | (7.9) |
| Bank owned life insurance income | 4218 | 3942 | 4092 | 276 | 7.0 | 126 | 3.1 |
| Other service charges and fees | 1606 | 1503 | 1333 | 103 | 6.9 | 273 | 20.5 |
| Other income | 4827 | 12365 | 8007 | (7538) | (61.0) | (3180) | (39.7) |
| &nbsp;&nbsp;Total noninterest income | $44197 | $51708 | $46155 | $(7511) | (14.5)% | $(1958) | (4.2)% |

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Recurring fee income (total service charges, wealth management fees, debit and credit card fees) was $33.3 million, $33.2 million and $32.0 million for the three month periods ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

**<u>NONINTEREST EXPENSE</u>**

Noninterest expense consists of salaries and employee benefits, occupancy, equipment, foreclosure losses and other expenses necessary for our operations. Management remains committed to controlling the level of noninterest expense through the continued use of expense control measures. We utilize an extensive profit planning and reporting system involving all subsidiaries. Based on a needs assessment of the business plan for the upcoming year, monthly and annual profit plans are developed, including manpower and capital expenditure budgets. These profit plans are subject to extensive initial reviews and monitored by management monthly. Variances from the plan are reviewed monthly and, when required, management takes corrective action intended to ensure financial goals are met. We also regularly monitor staffing levels at each subsidiary to ensure productivity and overhead are in line with existing workload requirements.

Noninterest expense was $140.7 million for the three month period ended March 31, 2026, as compared to noninterest expense of $139.9 million for the three month period ended December 31, 2025, representing an increase of $811,000, or 0.6%, as compared to the preceding quarter. Adjusted noninterest expense, which excludes branch right sizing, early retirement program costs (for the three months ended March 31, 2026), FDIC special assessment (for the three months ended March 31, 2026), professional services (for the three months ended March 31, 2026), termination of vendor and software services (for the three months ended December 31, 2025), and loss on sale of an equipment finance business (for the three months ended December 31, 2025), for the three months ended March 31, 2026 was $140.6 million, an increase of $2.0 million as compared to the three months ended December 31, 2025.

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Noninterest expense for the three months ended March 31, 2026 decreased by approximately $3.9 million or 2.7% as compared to the three months ended March 31, 2025. Adjusted noninterest expense, which excludes branch right sizing, early retirement program costs (for the three months ended March 31, 2026), FDIC special assessment (for the three months ended March 31, 2026) and professional services (for the three months ended March 31, 2026), decreased $2.9 million, or 2.0%, as compared to the three months ended March 31, 2025.

Salaries and employee benefits expense increased $3.0 million during the three month period ended March 31, 2026 as compared to the preceding sequential quarter and increased $1.1 million during the three month period ended March 31, 2026 when compared to the same period in the prior year. The increase as compared to the preceding sequential quarter primarily reflects a seasonal increase in payroll tax expense. The increase as compared to the same period in the prior year is primarily due to employee merit increases over the comparative periods.

Deposit insurance expense for the three months ended March 31, 2026 as compared to the three months ended December 31, 2025 and three months ended March 31, 2025 decreased by $2.4 million and $3.1 million, respectively. The decrease for the three months ended March 31, 2026 as compared to the prior periods is significantly attributable to a $2.0 million FDIC special assessment recapture recorded in the period.

Other noninterest expense decreased $388,000 during the three month period ended March 31, 2026 as compared to the preceding sequential quarter and decreased $3.6 million during the three month period ended March 31, 2025 when compared to the same period in the prior year. While the variance in other noninterest expense on a sequential quarter basis is relatively flat, the decrease on a year over year basis for the three month period ended March 31, 2026 is primarily due to a $4.3 million charge related to a commercial customer deposit fraud event that was identified during the three month period ended March 31, 2025.

Table 6 below shows noninterest expense for the three month periods ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively, as well as changes between periods.

**Table 6: Noninterest Expense** 

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | | | | |
| | March 31, | December 31, | March 31, | Change from Quarter - Sequential | Change from Quarter - Sequential | Change from Quarter - Year-over-Year | Change from Quarter - Year-over-Year |
| (Dollars in thousands) | 2026 | 2025 | 2025 | Change from Quarter - Sequential | Change from Quarter - Sequential | Change from Quarter - Year-over-Year | Change from Quarter - Year-over-Year |
| Salaries and employee benefits | $75885 | $72924 | $74824 | $2961 | 4.1% | $1061 | 1.4% |
| Occupancy expense, net | 12218 | 11636 | 12651 | 582 | 5.0 | (433) | (3.4) |
| Furniture and equipment expense | 5423 | 5304 | 5465 | 119 | 2.2 | (42) | (0.8) |
| Other real estate and foreclosure expense | 315 | 432 | 198 | (117) | (27.1) | 117 | 59.1 |
| Deposit insurance | 2295 | 4736 | 5391 | (2441) | (51.5) | (3096) | (57.4) |
| Other operating expenses: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Professional services | 7161 | 5935 | 4867 | 1226 | 20.7 | 2294 | 47.1 |
| &nbsp;&nbsp;&nbsp;Postage | 2288 | 2393 | 2280 | (105) | (4.4) | 8 | 0.4 |
| &nbsp;&nbsp;&nbsp;Telephone | 1514 | 1461 | 1479 | 53 | 3.6 | 35 | 2.4 |
| &nbsp;&nbsp;&nbsp;Debit and credit card | 3107 | 3101 | 3029 | 6 | 0.2 | 78 | 2.6 |
| &nbsp;&nbsp;&nbsp;Marketing | 6700 | 7725 | 6826 | (1025) | (13.3) | (126) | (1.8) |
| &nbsp;&nbsp;&nbsp;Software and technology | 11057 | 11036 | 10036 | 21 | 0.2 | 1021 | 10.2 |
| &nbsp;&nbsp;&nbsp;Operating supplies | 286 | 813 | 627 | (527) | (64.8) | (341) | (54.4) |
| &nbsp;&nbsp;&nbsp;Amortization of intangibles | 3097 | 3097 | 3527 |  |  | (430) | (12.2) |
| &nbsp;&nbsp;&nbsp;Branch right sizing | 531 | 85 | 994 | 446 | \* | (463) | (46.6) |
| &nbsp;&nbsp;&nbsp;Other | 8796 | 9184 | 12386 | (388) | (4.2) | (3590) | (29.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | $140673 | $139862 | $144580 | $811 | 0.6% | $(3907) | (2.7)% |

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_________________________

\*Not meaningful

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**<u>INVESTMENTS AND SECURITIES</u>**

Our securities portfolio is the second largest component of earning assets and provides a significant source of revenue. Securities within the portfolio are classified as HTM, AFS or trading. Our philosophy regarding investments is conservative based on investment type and maturity. Investments in the portfolio primarily include U.S. Treasury securities, U.S. Government agencies, MBS and municipal securities. Our general policy is not to invest in derivative type investments or high-risk securities, except for collateralized MBS for which collection of principal and interest is not subordinated to significant superior rights held by others.

As of March 31, 2026, AFS investment securities and assets held in trading accounts were $3.15 billion and $14.5 million, respectively. As of December 31, 2025, AFS and assets held in trading accounts were $3.27 billion and $11.7 million, respectively. We continue to look for opportunities to maximize the value of the investment portfolio.

During the third quarter of 2025, we initiated and completed steps taken to reposition the Company's consolidated balance sheet and reclassified approximately $3.59 billion in HTM investment securities to AFS investment securities. Subsequently, we sold approximately $3.16 billion in amortized cost basis of AFS securities (including certain of those previously classified as HTM). The sale of investment securities resulted in a realized, after-tax loss of $625.6 million (based on actual tax rate of 21.946%). The AFS securities sold were low-yield bonds and, by removing these bonds from our balance sheet, we reduced our level of high-cost wholesale funding and increased our ability to generate higher earnings and growth.

During the quarters ended June 30, 2022 and September 30, 2021, we transferred, at fair value, $1.99 billion and $500.8 million, respectively, of securities from the AFS portfolio to the HTM portfolio. No gains or losses on these securities were recognized at the time of transfer. During the balance sheet repositioning that occurred during 2025, the remaining securities were transferred out of the HTM portfolio to the AFS portfolio at fair value and either subsequently sold or maintained within the AFS portfolio.

As of March 31, 2026, we had the ability to hold the securities classified as AFS for a period of time sufficient for a recovery of amortized cost and we believed the accounting standard of "more likely than not" has not been met regarding whether we would be required to sell any of the AFS securities before recovery of amortized cost. As of March 31, 2026, the unrealized losses were largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the bonds approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of March 31, 2026, we believed the declines in fair value are temporary and we did not believe any of the securities are impaired due to reasons of credit quality. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. We expect the cash flows from principal maturities of securities to provide flexibility to fund future loan growth or reduce wholesale funding.

During the third quarter of 2021, we began utilizing interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of $1.00 billion of fixed rate callable municipal securities held in the AFS portfolio. These swap agreements consist of a two year forward start date and involve the payment of fixed interest rates with a weighted average rate of 1.21% in exchange for variable interest rates based on federal funds rates, which became effective during late third quarter of 2023. Securities within these swap agreements have maturity dates varying between 2028 and 2029. For the three months ended March 31, 2026, the net amount included in interest income on investment securities in the consolidated statements of income related to these swap agreements was $6.2 million.

**<u>LOAN PORTFOLIO</u>**

Our loan portfolio averaged $17.66 billion and $16.92 billion during the first three months of 2026 and 2025, respectively. As of March 31, 2026, total loans were $17.93 billion, an increase of $440.7 million from December 31, 2025. The increase in the loan balance during the first three months of 2026 when compared to December 31, 2025 is primarily due to growth in the commercial real estate, commercial and industrial and mortgage warehouse portfolios over the comparative period, while we continued to focus on maintaining prudent underwriting standards and pricing discipline. The most significant components of the loan portfolio were loans to businesses (commercial loans, commercial real estate loans and agricultural loans) and individuals (consumer loans, credit card loans and single-family residential real estate loans).

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We seek to manage our credit risk by diversifying our loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral, obtaining and monitoring collateral, providing an appropriate allowance for credit losses and regularly reviewing loans through the internal loan review process. The loan portfolio is diversified by borrower, purpose, industry and geographic region. We seek to use diversification within the loan portfolio to reduce credit risk, thereby minimizing the adverse impact on the portfolio, if weaknesses develop in either the economy or a particular segment of borrowers. Collateral requirements are based on credit assessments of borrowers and may be used to recover the debt in case of default. We use the allowance for credit losses as a method to value the loan portfolio at its estimated collectible amount. Loans are regularly reviewed to facilitate the identification and monitoring of deteriorating credits.

The balances of loans outstanding at the indicated dates are reflected in Table 7, according to type of loan.

**Table 7: Loan Portfolio** 

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands) | 2026 | 2025 |
| Consumer: |  |  |
| &nbsp;&nbsp;&nbsp;Credit cards | $172610 | $175760 |
| &nbsp;&nbsp;&nbsp;Other consumer | 96387 | 115472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 268997 | 291232 |
| Real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Construction and development | 2621859 | 2873807 |
| &nbsp;&nbsp;&nbsp;Single family residential | 2566162 | 2607450 |
| &nbsp;&nbsp;&nbsp;Other commercial | 8764648 | 8289968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate | 13952669 | 13771225 |
| Commercial: |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 2521440 | 2382339 |
| &nbsp;&nbsp;&nbsp;Agricultural | 333508 | 306300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 2854948 | 2688639 |
| Other | 856269 | 741083 |
| &nbsp;&nbsp;&nbsp;Total loans before allowance for credit losses | $17932883 | $17492179 |

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Consumer loans consist of credit card loans and other consumer loans. Consumer loans were $269.0 million at March 31, 2026, or 1.5% of total loans, compared to $291.2 million, or 1.7% of total loans at December 31, 2025. The decrease in consumer loans from December 31, 2025, to March 31, 2026, was primarily due to loan payoffs and pay downs within both the credit card and other consumer portfolios during the period.

Real estate loans consist of construction and development loans ("C&D") loans, single-family residential loans and commercial real estate ("CRE") loans. Real estate loans were $13.95 billion at March 31, 2026, or 77.8% of total loans, compared to $13.77 billion, or 78.7%, of total loans at December 31, 2025, an increase of $181.4 million, or 1.3%. Our C&D loans decreased by $251.9 million, or 8.8%, while single family residential loans decreased by $41.3 million, or 1.6%, and CRE loans increased by $474.7 million, or 5.7%. The changes among our real estate portfolio reflected our focus on maintaining conservative underwriting standards and structure guidelines while emphasizing prudent pricing discipline during the first three months of 2026. We expect to continue to manage our C&D and CRE portfolio concentration by developing deeper relationships with our customers.

Commercial loans consist of non-real estate loans related to business and agricultural loans. Total commercial loans were $2.85 billion at March 31, 2026, or 15.9% of total loans, compared to $2.69 billion, or 15.4% of total loans at December 31, 2025, an increase of $166.3 million, or 6.2%. The increase in commercial loans was largely related to the increase in commercial and industrial loans of $139.1 million, or 5.8%.

Other loans mainly consist of mortgage warehouse lending and municipal loans. Mortgage volume experienced an increase in demand during the first three months of 2026 as compared to December 31, 2025, leading to an increase of $115.2 million in other loans.

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Our commercial loan pipeline consisting of all commercial loan opportunities was $1.56 billion at March 31, 2026 compared to $1.54 billion at December 31, 2025. Commercial loans approved and ready to close at the end of the quarter totaled $651.4 million.

**<u>ASSET QUALITY</u>**

Nonperforming loans are comprised of (a) nonaccrual loans, (b) loans that are contractually past due 90 days and (c) other loans for which terms have been restructured to provide a reduction or deferral of interest or principal, because of deterioration in the financial position of the borrower. Simmons Bank recognizes income principally on the accrual basis of accounting. When loans are classified as nonaccrual, generally, the accrued interest is charged off and no further interest is accrued. Loans, excluding credit card loans, are placed on a nonaccrual basis either: (1) when there are serious doubts regarding the collectability of principal or interest, or (2) when payment of interest or principal is 90 days or more past due and either (i) not fully secured or (ii) not in the process of collection. If a loan is determined by management to be uncollectible, the portion of the loan determined to be uncollectible is then charged to the allowance for credit losses.

When credit card loans reach 90 days past due and there are attachable assets, the accounts are considered for litigation. Credit card loans are generally charged off when payment of interest or principal exceeds 150 days past due. The credit card recovery group pursues account holders until it is determined, on a case-by-case basis, to be uncollectible.

Total nonperforming assets increased $29.5 million from December 31, 2025 to March 31, 2026. Nonaccrual loans increased by $29.4 million from December 31, 2025 and foreclosed assets held for sale and other real estate owned increased $466,000 as compared to December 31, 2025. The increase in nonaccrual loans was primarily due to a single real estate construction relationship totaling $26.9 million that is well collateralized and that management believes has limited loss content.

From time to time, certain borrowers experience declines in income and cash flow. As a result, these borrowers seek to reduce contractual cash outlays, the most prominent being debt payments. In an effort to preserve our net interest margin and earning assets, we are open to working with existing customers in order to maximize the collectability of the debt.

We have internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties may include interest rate reductions, principal or interest forgiveness and/or term extensions. We primarily use interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal.

There were four loan modifications granted to borrowers experiencing financial difficulty during the three month period ended March 31, 2026. Such modifications included interest rate reductions and/or term extensions and had a total period-end amortized cost basis of $2.5 million at March 31, 2026.

The allowance for credit losses as a percent of total loans was 1.28% as of March 31, 2026. Nonperforming loans equaled 0.79% of total loans. Nonperforming assets were 0.63% of total assets, a 12 basis point increase from December 31, 2025. The allowance for credit losses was 162% of nonperforming loans. Our annualized net charge-offs to average total loans ratio for the first three months of 2026 was 0.21%. Annualized net credit card charge-offs to average total credit card loans were 2.81% for the first three months of 2026, compared to 2.95% during the full year 2025, and 122 basis points better than the most recently published industry average charge-off ratio as reported by the Federal Reserve for all banks.

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Table 8 presents information concerning nonperforming assets, including nonaccrual loans at amortized cost and foreclosed assets held for sale.

**Table 8: Nonperforming Assets** 

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| | | | |
|:---|:---|:---|:---|
| | March 31, | December 31, | March 31, |
| (Dollars in thousands) | 2026 | 2025 | 2025 |
| Nonaccrual loans <sup>(1)</sup> | $141233 | $111791 | $151897 |
| Loans past due 90 days or more (principal or interest payments) | 647 | 948 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans | 141880 | 112739 | 152391 |
| Other nonperforming assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreclosed assets held for sale and other real estate owned | 12475 | 12009 | 8976 |
| &nbsp;&nbsp;&nbsp;Other nonperforming assets | 181 | 323 | 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other nonperforming assets | 12656 | 12332 | 9954 |
| Total nonperforming assets | $154536 | $125071 | $162345 |
| Allowance for credit losses to nonperforming loans | 162% | 199% | 165% |
| Nonperforming loans to total loans | 0.79% | 0.64% | 0.89% |
| Nonperforming assets to total assets | 0.63% | 0.51% | 0.61% |

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_______________________________________

(1)Includes nonaccrual FDMs of approximately $935,000 and $853,000 at March 31, 2026 and December 31, 2025, respectively.

The interest income on nonaccrual loans is not considered material for the three month periods ended March 31, 2026 and 2025.

**<u>ALLOWANCE FOR CREDIT LOSSES</u>**

The allowance for credit losses is a reserve established through a provision for credit losses charged to expense which represents management's best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations.

Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated for collective assessment. We use statistically-based models that leverage assumptions about current and future economic conditions throughout the contractual life of the loan. Expected credit losses are estimated by either lifetime loss rates or expected loss cash flows based on three key parameters: probability-of-default ("PD"), exposure-at-default ("EAD"), and loss-given-default ("LGD"). Future economic conditions are incorporated to the extent that they are reasonable and supportable. Beyond the reasonable and supportable periods, the economic variables revert to a historical equilibrium at a pace dependent on the state of the economy reflected within the economic scenarios. We also include qualitative adjustments to the allowance based on factors and considerations that have not otherwise been fully accounted for.

Loans that have unique risk characteristics are evaluated on an individual basis. These evaluations are typically performed on loans with a deteriorated internal risk rating. For a collateral-dependent loan, our evaluation process includes a valuation by appraisal or other collateral analysis adjusted for selling costs, when appropriate. This valuation is compared to the remaining outstanding principal balance of the loan. If a loss is determined to be probable, the loss is included in the allowance for credit losses as a specific allocation.

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An analysis of the allowance for credit losses on loans is shown in Table 9.

**Table 9: Allowance for Credit Losses** 

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| | | |
|:---|:---|:---|
| (In thousands) | 2026 | 2025 |
| Balance, beginning of year | $224377 | $235019 |
| Loans charged off: |  |  |
| &nbsp;&nbsp;&nbsp;Credit card | 1677 | 1460 |
| &nbsp;&nbsp;&nbsp;Other consumer | 590 | 1133 |
| &nbsp;&nbsp;&nbsp;Real estate | 6629 | 4425 |
| &nbsp;&nbsp;&nbsp;Commercial | 1666 | 4243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans charged off | 10562 | 11261 |
| Recoveries of loans previously charged off: |  |  |
| &nbsp;&nbsp;&nbsp;Credit card | 468 | 211 |
| &nbsp;&nbsp;&nbsp;Other consumer | 301 | 306 |
| &nbsp;&nbsp;&nbsp;Real estate | 449 | 99 |
| &nbsp;&nbsp;&nbsp;Commercial | 253 | 997 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 1471 | 1613 |
| &nbsp;&nbsp;&nbsp;Net loans charged off | 9091 | 9648 |
| Provision for credit losses | 14622 | 26797 |
| Balance, March 31, | $229908 | $252168 |
| Loans charged off: |  |  |
| &nbsp;&nbsp;&nbsp;Credit card |  | 4910 |
| &nbsp;&nbsp;&nbsp;Other consumer |  | 1501 |
| &nbsp;&nbsp;&nbsp;Real estate |  | 28650 |
| &nbsp;&nbsp;&nbsp;Commercial |  | 38340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans charged off |  | 73401 |
| Recoveries of loans previously charged off: |  |  |
| &nbsp;&nbsp;&nbsp;Credit card |  | 938 |
| &nbsp;&nbsp;&nbsp;Other consumer |  | 760 |
| &nbsp;&nbsp;&nbsp;Real estate |  | 307 |
| &nbsp;&nbsp;&nbsp;Commercial |  | 1364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries |  | 3369 |
| &nbsp;&nbsp;&nbsp;Net loans charged off |  | 70032 |
| Provision for credit losses |  | 42241 |
| Balance, end of year |  | $224377 |

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**Provision for Credit Losses**

The amount of provision added to or released from the allowance during the three months ended March 31, 2026 and 2025, and for the year ended December 31, 2025, was based on management's judgment, with consideration given to the composition and asset quality of the portfolio, historical loan loss experience, and assessment of current and expected economic forecasts and conditions. It is management's practice to review the allowance on a monthly basis, and after considering the factors previously noted, to determine the level of provision made to the allowance.

**Allowance for Credit Losses Allocation**

As of March 31, 2026, the allowance for credit losses reflected an increase of approximately $5.5 million from December 31, 2025, while total loans increased by $440.7 million over the same three month period. The allocation in each category within the allowance generally reflects the overall changes in the loan portfolio mix.

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The increase in the allowance for credit losses during the first three months of 2026 was primarily due to the impact of loan growth and updated economic assumptions during the period. Our allowance for credit losses at March 31, 2026 was considered appropriate given the current economic environment and other related factors.

The following table sets forth the sum of the amounts of the allowance for credit losses attributable to individual loans within each category, or loan categories in general. The table also reflects the percentage of loans in each category to the total loan portfolio for each of the periods indicated. The allowance for credit losses by loan category is determined by (i) our estimated reserve factors by category including applicable qualitative adjustments and (ii) any specific allowance allocations that are identified on individually evaluated loans. The amounts shown are not necessarily indicative of the actual future losses that may occur within individual categories.

**Table 10: Allocation of Allowance for Credit Losses** 

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| | | | | |
|:---|:---|:---|:---|:---|
| | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
| (Dollars in thousands) | Allowance<br>Amount | % of<br>loans <sup>(1)</sup> | Allowance<br>Amount | % of<br>loans <sup>(1)</sup> |
| Credit cards | $5706 | 1.0% | $5991 | 1.0% |
| Other consumer | 6211 | 5.3% | 6711 | 4.9% |
| Real estate | 188166 | 77.8% | 183677 | 78.7% |
| Commercial | 29825 | 15.9% | 27998 | 15.4% |
| Total | $229908 | 100.0% | $224377 | 100.0% |
| Allowance for credit losses to period-end loans | 1.28% |  | 1.28% |  |

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_______________________________________

(1)Percentage of loans in each category to total loans.

**<u>DEPOSITS</u>**

Deposits are our primary source of funding for earning assets and are primarily developed through our network of 221 financial centers as of March 31, 2026. We offer a variety of products designed to attract and retain customers with a continuing focus on developing core deposits. Our core deposits consist of all deposits excluding time deposits of $250,000 or more and brokered deposits. As of March 31, 2026, core deposits comprised 83.5% of our total deposits.

We continually monitor the funding requirements along with competitive interest rates in the markets we serve. Because of our community banking philosophy, our executives in the local markets, with oversight by the Chief Deposit Officer, Asset Liability Committee and the Bank's Treasury Department, establish the interest rates offered on both core and non-core deposits. This approach helps ensure that the interest rates being paid are competitively priced for each particular deposit product and structured to meet the funding requirements. We believe we are paying a competitive rate when compared with pricing in those markets.

We manage our interest expense through deposit pricing. We believe that additional funds can be attracted and deposit growth can be accelerated through deposit pricing if we experience increased loan demand or other liquidity needs. We can also utilize brokered deposits as an additional source of funding to meet liquidity needs. We are continually monitoring and looking for opportunities to fairly reprice our deposits while remaining competitive in this current challenging rate environment.

Our total deposits as of March 31, 2026, were $20.20 billion, compared to $20.18 billion as of December 31, 2025. Noninterest bearing transaction accounts, interest bearing transaction accounts and savings accounts totaled $15.60 billion at March 31, 2026, compared to $15.47 billion at December 31, 2025, an increase of $130.3 million. Total time deposits decreased $111.6 million to $4.60 billion at March 31, 2026, from $4.71 billion at December 31, 2025. We had $1.91 billion and $1.89 billion of brokered deposits at March 31, 2026, and December 31, 2025, respectively. We are continuing to refine our product offerings to give customers flexibility of choice while maintaining the ability to adjust interest rates timely in the current rate environment.

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Table 11 reflects the classification of the average deposits and the average rate paid on each deposit category which is in excess of 10 percent of average total deposits for the three months ended March 31, 2026 and the year ended December 31, 2025.

**Table 11: Average Deposit Balances and Rates**

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| | | | | |
|:---|:---|:---|:---|:---|
| | March 31, 2026 | March 31, 2026 | December 31, 2025 | December 31, 2025 |
| (Dollars in thousands) | Average Amount | Average Rate Paid | Average Amount | Average Rate Paid |
| Noninterest bearing transaction accounts | $4229952 | —% | $4379001 | —% |
| Interest bearing transaction and savings deposits | 11328148 | 2.06% | 11102447 | 2.39% |
| Time deposits | 4678058 | 3.46% | 5412448 | 3.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $20236158 | 1.96% | $20893896 | 2.28% |

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**<u>OTHER BORROWINGS AND SUBORDINATED NOTES AND DEBENTURES</u>**

Our total debt was $762.5 million and $620.0 million at March 31, 2026 and December 31, 2025, respectively. The outstanding balance for March 31, 2026 includes $431.6 million in FHLB advances; $315.7 million in subordinated notes and unamortized debt issuance costs; and $15.2 million of other long-term debt. FHLB advances outstanding at March 31, 2026 are primarily whole loan advances, which are due less than one year from origination and therefore are classified as short-term advances.

In September 2025, we issued $325.0 million in aggregate principal amount of 2025 Notes at a public offering price equal to 100% of the aggregate principal amount of the 2025 Notes. The Company incurred $3.9 million in debt issuance costs related to the offering. Additionally, during the third quarter of 2025, the Company began utilizing interest rate swaps designated as fair value hedges to mitigate the risk of changes in the fair value of the aggregate principal amount of the 2025 Notes due to changes in market interest rates. The 2025 Notes will mature on October 1, 2035 and are subordinated in right of payment to the payment of our other existing and future senior indebtedness, including all our general creditors. The 2025 Notes are obligations of the Company only and are not obligations of, and are not guaranteed by, any of its subsidiaries.

For information about the regulatory capital treatment of the 2025 Notes, see the section "*Capital—Risk-Based Capital*."

**<u>CAPITAL</u>**

**Overview**

At March 31, 2026, total capital was $3.44 billion. Capital represents shareholder ownership in the Company – the book value of assets in excess of liabilities. At March 31, 2026, our common equity to asset ratio was 13.92% compared to 13.93% at year-end 2025.

**Capital Stock**

On February 27, 2009, at a special meeting, our shareholders approved an amendment to the Articles of Incorporation to establish 40,040,000 authorized shares of preferred stock, $0.01 par value. On April 27, 2022, our shareholders approved amendments to our Articles of Incorporation to remove an $80.0 million cap on the aggregate liquidation preference associated with the preferred stock and increase the number of authorized shares of our Class A common stock from 175,000,000 to 350,000,000.

On October 29, 2019, we filed Amended and Restated Articles of Incorporation ("October Amended Articles") with the Arkansas Secretary of State. The October Amended Articles classified and designated Series D Preferred Stock, Par Value $0.01 Per Share ("Series D Preferred Stock"), out of our authorized preferred stock. On November 30, 2021, we redeemed all of the Series D Preferred Stock, including accrued and unpaid dividends. On April 27, 2022, our shareholders approved an amendment to our Articles of Incorporation to remove the classification and designation for the Series D Preferred Stock. As of March 31, 2026 and December 31, 2025, there were no shares of preferred stock issued or outstanding.

On May 17, 2024, we filed a shelf registration with the SEC. The shelf registration statement provides increased flexibility and more efficient access to raise capital from time to time through the sale of common stock, preferred stock, debt securities, depository shares, warrants, purchase contracts, subscription rights, units or a combination thereof, subject to market conditions. Specific terms and prices are determined at the time of any offering under a separate prospectus supplement that we are required to file with the SEC at the time of the specific offering.

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On July 23, 2025, we closed a public offering of 18,653,000 shares of our Class A common stock, at a price to the public of $18.50 per share, which includes 2,433,000 shares of our Class A common stock granted pursuant to the underwriters' option to purchase additional shares at the public offering price, less underwriting discounts. The net proceeds of $327.4 million from this public offering helped offset the one-time, realized after-tax loss of $625.6 million (based on an actual tax rate of 21.946%) incurred during the third quarter of 2025 from selling AFS securities discussed in the *Investments and Securities* section above.

**Stock Repurchase Program**

In January 2024, our Board of Directors authorized a stock repurchase program ("2024 Program") under which we could repurchase up to $175.0 million of our Class A common stock currently issued and outstanding. The 2024 Program terminated in January 2026, and our Board of Directors authorized a new stock repurchase program in January 2026 ("2026 Program") under which we may repurchase up to $175.0 million of our Class A common stock currently issued and outstanding. The 2026 Program will be executed in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will terminate on January 31, 2028 (unless terminated sooner).

Under the 2026 Program, which replaced the 2024 Program, we may repurchase shares of our common stock through open market and privately negotiated transactions or otherwise. The timing, pricing, and amount of any repurchases under the 2026 Program will be determined by management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of our common stock, corporate considerations, our working capital and investment requirements, general market and economic conditions, and legal requirements. The 2026 Program does not obligate us to repurchase any common stock and may be modified, discontinued, or suspended at any time without prior notice. We anticipate funding for this 2026 Program to come from available sources of liquidity, including cash on hand and future cash flow.

No shares were repurchased during the three month periods ended March 31, 2026 and 2025. Market conditions and the Company's capital needs, among other things, will drive decisions regarding additional, future stock repurchases.

**Cash Dividends**

We declared cash dividends on our common stock of $0.2150 per share for the first three months of 2026 compared to $0.2125 per share for the first three months of 2025, an increase of $0.0025, or 1%. The timing and amount of future dividends are at the discretion of our Board of Directors and will depend upon our consolidated earnings, financial condition, liquidity and capital requirements, the amount of cash dividends paid to us by our subsidiaries, applicable government regulations and policies and other factors considered relevant by our Board of Directors. Our Board of Directors anticipates that we will continue to pay quarterly dividends in amounts determined based on the factors discussed above. However, there can be no assurance that we will continue to pay dividends on our common stock at the current levels or at all.

**Parent Company Liquidity**

The primary liquidity needs of the Parent Company are the payment of dividends to shareholders, the funding of debt obligations and cash needs for acquisitions. The primary sources for meeting these liquidity needs are the current cash on hand at the parent company and the future dividends received from Simmons Bank. Payment of dividends by Simmons Bank is subject to various regulatory limitations. For additional information regarding the parent company's liquidity, see "*Liquidity Management*" and "*Market Risk Management*" in Item 3 – Quantitative and Qualitative Disclosures About Market Risk of this Quarterly Report on Form 10-Q. We continually assess our capital and liquidity needs and the best way to meet them, including, without limitation, through capital raising in the market via stock or debt offerings.

**Risk-Based Capital**

The Company and Simmons Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The Company and Simmons Bank must hold a capital conservation buffer composed of common equity Tier 1 capital above its minimum risk-based capital requirements. Failure to meet this capital conservation buffer would result in additional limits on dividends, other distributions and discretionary bonuses. The Company's management reviews regulatory capital levels on an ongoing basis in light of the size, composition and quality of the Company's capital resources, and of trends and anticipated changes thereto.

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Quantitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of March 31, 2026, we met all capital adequacy requirements to which we are subject. As of the most recent notification from regulatory agencies, Simmons Bank was well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and Simmons Bank must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the bank's categories.

The Company's risk-based capital ratios at March 31, 2026 and December 31, 2025 are presented in Table 12 below:

**Table 12: Risk-Based Capital**

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| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (Dollars in thousands) | 2026 | 2025 |
| Tier 1 capital: |  |  |
| &nbsp;&nbsp;&nbsp;Stockholders' equity | $3437734 | $3419240 |
| &nbsp;&nbsp;&nbsp;Goodwill and other intangible assets | (1370562) | (1374839) |
| &nbsp;&nbsp;&nbsp;Unrealized loss on available-for-sale securities, net of income taxes | 314365 | 293130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 1 capital | 2381537 | 2337531 |
| Tier 2 capital: |  |  |
| &nbsp;&nbsp;&nbsp;Subordinated notes and debentures | 315700 | 317714 |
| &nbsp;&nbsp;&nbsp;Qualifying allowance for credit losses and reserve for unfunded commitments | 255537 | 250006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Tier 2 capital | 571237 | 567720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total risk-based capital | $2952774 | $2905251 |
| Risk weighted assets | $20565445 | $20106493 |
| Assets for leverage ratio | $23487513 | $23224638 |
| Ratios at end of period: |  |  |
| &nbsp;&nbsp;&nbsp;Common equity Tier 1 ratio (CET1) | 11.58% | 11.63% |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 10.14% | 10.06% |
| &nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 11.58% | 11.63% |
| &nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 14.36% | 14.45% |
| Minimum guidelines: |  |  |
| &nbsp;&nbsp;&nbsp;Common equity Tier 1 ratio (CET1) | 4.50% | 4.50% |
| &nbsp;&nbsp;&nbsp;Tier 1 leverage ratio | 4.00% | 4.00% |
| &nbsp;&nbsp;&nbsp;Tier 1 risk-based capital ratio | 6.00% | 6.00% |
| &nbsp;&nbsp;&nbsp;Total risk-based capital ratio | 8.00% | 8.00% |

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**Regulatory Capital Changes**

The Basel III Capital Rules define the components of capital and address other issues affecting the numerator in banking institutions' regulatory capital ratios. The rules also address risk weights and other issues affecting the denominator in banking institutions' regulatory capital ratios with a more risk-sensitive approach. The Basel III Capital Rules established risk-weighting categories depending on the nature of the assets, generally ranging from 0% for U.S. government and agency securities, to 600% for certain equity exposures.

The final rules included a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The rules also raised the minimum ratio of Tier 1 capital to risk-weighted assets to 6.0% and require a minimum leverage ratio of 4.0%.

Qualifying subordinated debt of $315.7 million and $317.7 million is included as Tier 2 and total capital of the Company for periods ended March 31, 2026 and December 31, 2025, respectively.

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**<u>RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS</u>**

See the *Recently Issued Accounting Standards* section in Note 1, Preparation of Interim Financial Statements, in the accompanying Condensed Notes to Consolidated Financial Statements included elsewhere in this report for details of recently issued accounting pronouncements and their expected impact on the Company's ongoing financial position and results of operation.

**<u>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</u>**

Certain statements contained in this quarterly report may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology, such as "anticipate," "believe," "budget," "contemplate," "continue," "estimate," "expect," "foresee," "intend," "indicate," "likely," "target," "plan," "positions," "prospects," "project," "predict," or "potential," by future conditional verbs such as "could," "may," "might," "should," "will," or "would," or by variations of such words or by similar expressions. These forward-looking statements include, without limitation, those relating to the Company's future growth, business strategies, product development, acquisitions and their expected benefits, revenue, expenses, assets, asset quality, profitability, earnings, accretion, dividends, customer service, lending capacity and lending activity, loan demand, deposit levels, investment in digital channels, critical accounting policies and estimates, net interest income, net interest margin, noninterest income, noninterest expense, the Company's stock repurchase program, consumer behavior and liquidity, the Company's ability to recruit and retain key employees, the adequacy of the allowance for credit losses, income tax deductions, deferred tax assets, credit quality, the level of credit losses from lending commitments, net interest revenue, interest rates and interest rate sensitivity (including, among other things, the impact of rising or declining interest rates), economic conditions, repricing of loans and time deposits, loan loss experience, liquidity, the Company's expectations regarding actions by the regulatory agencies, capital resources, the expected expenses and cost savings associated with branch closures, market risk, plans for investments in (and cash flows from) securities and investment portfolio strategies, effect of pending and future litigation, staffing initiatives, estimated cost savings associated with the Company's early retirement program, legal and regulatory limitations and compliance and competition.

These forward-looking statements are based on various assumptions and involve inherent risks and uncertainties, and may not be realized due to a variety of factors, including, without limitation: changes in the Company's operating, acquisition, or expansion strategy; the effects of future economic conditions (including unemployment levels and slowdowns in economic growth), governmental monetary and fiscal policies (including the policies of the Federal Reserve, as well as legislative and regulatory changes); general business conditions, as well as conditions within the financial markets, developments impacting the financial services industry, such as bank failures or concerns involving liquidity; changes in real estate values; changes in interest rates and related governmental policies; the effects of a government shutdown, changes in liquidity, and the availability of and costs associated with obtaining adequate and timely sources of liquidity; increased inflation; changes in the level and composition of deposits, loan demand, deposit flows, and the values of loan collateral, securities and interest sensitive assets and liabilities; changes in credit quality; actions taken by the Company to manage its investment securities portfolio; changes in the securities markets generally or the price of the Company's common stock, specifically; changes in the assumptions used in making the forward-looking statements; developments in information technology affecting the financial industry, including but not limited to artificial intelligence; cyber threats, attacks or events, including at third parties on which we rely for key services; the ability to collect amounts due under loan agreements; reliance on third parties for the provision of key services; further changes in accounting principles relating to loan loss recognition; the costs of evaluating possible acquisitions and the risks inherent in integrating acquisitions; possible adverse rulings, judgments, settlements, fines and other outcomes of pending or future litigation or government actions; changes in tariff policies; general economic and market conditions; changes in governmental administration; market disruptions, including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises, war and other military conflicts (including the ongoing military conflicts) or other major events, or the prospect of these events; changes in customer behaviors and preferences, including consumer spending, borrowing and saving habits; the soundness of other financial institutions and indirect exposure related to the closings of other financial institutions and their impact on the broader market through other customers, suppliers and partners (or that the conditions which resulted in the liquidity concerns experienced by closed financial institutions may also adversely impact, directly or indirectly, other financial institutions and market participants with which the Company has commercial or deposit relationships); the loss of key employees; fraud that results in material losses or that we have not discovered yet that may result in material losses; increased unemployment; labor shortages; the Company's ability to manage and successfully integrate its mergers and acquisitions to fully realize cost savings and other benefits associated with those transactions; increased delinquency and foreclosure rates on commercial real estate and other loans; significant increases in nonaccrual loan balances; the effects of government legislation, including tax rules and regulations or changes or interpretations thereof; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds, and other financial institutions operating in our market area and

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elsewhere, including institutions operating regionally, nationally, and internationally, together with such competitors offering banking products and services by mail, cell-phone/tablet, telephone, computer and the internet; the failure of assumptions underlying the establishment of reserves for possible credit losses, fair value for loans, other real estate owned and other cautionary statements set forth elsewhere in this report.

Additional information on factors that might cause the Company's results to differ materially from those disclosed in the forward-looking statements is included in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of this quarterly report, the Company's annual report on Form 10-K for the year ended December 31, 2025, and related disclosures in other filings with the SEC, which are available on the SEC's website at www.sec.gov. Many of these factors are beyond our ability to predict or control, and actual results could differ materially from those projected in or contemplated by the forward-looking statements due to these factors and others. In addition, as a result of these and other factors, our past financial performance should not be relied upon as an indication of future performance. Further, there can be no guarantee that the Board of Directors of the Company will approve a quarterly dividend in future quarters, and the timing, payment and amount of future dividends (if any) is subject to, among other things, the discretion of the Company's Board of Directors and may differ significantly from past dividends.

We believe the assumptions and expectations that underlie or are reflected in our forward-looking statements are reasonable, based on information available to us on the date hereof. However, given the described uncertainties and risks, we cannot guarantee our future performance or results of operations or whether our future performance will differ materially from the performance reflected in or implied by our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and all written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this section.

**<u>GAAP RECONCILIATION OF NON-GAAP FINANCIAL MEASURES</u>**

The tables below present computations of adjusted earnings (net income excluding certain items {net branch right sizing costs, FDIC special assessment, termination of vendor and software services, early retirement program costs, professional services, loss on sale of equipment finance business and tax effect}) (non-GAAP), and adjusted diluted earnings per share (non-GAAP) as well as a computation of tangible book value per share (non-GAAP), tangible common equity to tangible assets (non-GAAP), and adjusted noninterest expense (non-GAAP). Adjusted items are included in financial results presented in accordance with generally accepted accounting principles (US GAAP).

We believe the exclusion of these certain items in expressing earnings and certain other financial measures, including "adjusted earnings," provides a meaningful basis for period-to-period and company-to-company comparisons, which management believes will assist investors and analysts in analyzing the adjusted financial measures of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of the Company's business because management does not consider these certain items to be relevant to ongoing financial performance. Management and the Board of Directors utilize "adjusted earnings" (non-GAAP) for the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Preparation of the Company's operating budgets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Monthly financial performance reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Monthly "flash" reporting of consolidated results (management only)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investor presentations of Company performance

We believe the presentation of "adjusted earnings" on a diluted per share basis (non-GAAP) provides a meaningful basis for period-to-period and company-to-company comparisons, which management believes will assist investors and analysts in analyzing the adjusted financial measures of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of the Company's business, because management does not consider these certain items to be relevant to ongoing financial performance on a per share basis. Management and the Board of Directors utilize "adjusted diluted earnings per share" (non-GAAP) for the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calculation of annual performance-based incentives for certain executives

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calculation of long-term performance-based incentives for certain executives

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investor presentations of Company performance

------

We have $1.402 billion and $1.405 billion total goodwill and other intangible assets for the periods ended March 31, 2026 and December 31, 2025, respectively. Because our acquisition strategy has resulted in a high level of intangible assets, management believes useful calculations include tangible book value per share (non-GAAP) and tangible common equity to tangible assets (non-GAAP).

We believe that presenting these non-GAAP financial measures will permit investors and analysts to assess the performance of the Company on the same basis that is applied by management and the Board of Directors.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. To mitigate these limitations, we have procedures in place to identify and approve each item that qualifies as adjusted to ensure that the Company's "adjusted" results are properly reflected for period-to-period comparisons. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes certain items does not represent the amount that effectively accrues directly to stockholders (i.e., certain items are included in earnings and stockholders' equity). Additionally, similarly titled non-GAAP financial measures used by other companies may not be computed in the same or similar fashion.

See Table 13 below for the reconciliation of non-GAAP financial measures, which exclude certain items for the periods presented.

**Table 13: Reconciliation of Adjusted Earnings (non-GAAP)** 

---

| | | | |
|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, | December 31, | March 31, |
| (In thousands, except per share data) | 2026 | 2025 | 2025 |
| Net income available to common stockholders | $68544 | $78078 | $32388 |
| &nbsp;&nbsp;&nbsp;Certain items: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of equipment finance business |  | 1118 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC Special Assessment | (1984) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | 1200 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early retirement program | 283 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination of vendor and software services |  | 12 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branch right sizing (net) | 531 | 85 | 994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax effect <sup>(1)</sup> | (8) | (318) | (260) |
| &nbsp;&nbsp;Certain items, net of tax | 22 | 897 | 734 |
| Adjusted earnings (non-GAAP) | $68566 | $78975 | $33122 |
| Diluted earnings per share<sup>(2)</sup> | $0.47 | $0.54 | $0.26 |
| &nbsp;&nbsp;&nbsp;Certain items: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of equipment finance business |  | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC Special Assessment | (0.01) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | 0.01 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early retirement program |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination of vendor and software services |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branch right sizing (net) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax effect <sup>(1)</sup> |  | (0.01) |  |
| &nbsp;&nbsp;Certain items, net of tax |  |  |  |
| Adjusted diluted earnings per share (non-GAAP) | $0.47 | $0.54 | $0.26 |

---

_______________________________________

(1)Effective tax rate of 26.135%.

(2)See Note 15, Earnings Per Share ("EPS"), for number of shares used to determine EPS.

------

See Table 14 below for the reconciliation of adjusted noninterest expense for the periods presented.

**Table 14: Reconciliations of Adjusted Noninterest Expense (non-GAAP)**

---

| | | | |
|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended |
| | March 31, | December 31, | March 31, |
| (In thousands) | 2026 | 2025 | 2025 |
| Noninterest expense | $140673 | $139862 | $144580 |
| &nbsp;&nbsp;&nbsp;Certain items: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Early retirement program | (283) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination of vendor and software services |  | (12) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC Special Assessment | 1984 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | (1200) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of equipment finance business |  | (1118) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branch right sizing | (531) | (85) | (994) |
| Total certain items | (30) | (1215) | (994) |
| Adjusted noninterest expense (non-GAAP) | $140643 | $138647 | $143586 |

---

See Table 15 below for the reconciliation of tangible book value per share.

**Table 15: Reconciliation of Tangible Book Value per Share (non-GAAP)** 

---

| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (In thousands, except per share data) | 2026 | 2025 |
| Total common stockholders' equity | $3437734 | $3419240 |
| &nbsp;&nbsp;&nbsp;Intangible assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (1320799) | (1320799) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | (81325) | (84423) |
| &nbsp;&nbsp;&nbsp;Total intangibles | (1402124) | (1405222) |
| Tangible common stockholders' equity | $2035610 | $2014018 |
| Shares of common stock outstanding | 145058545 | 144762817 |
| Book value per common share | $23.70 | $23.62 |
| Tangible book value per share (non-GAAP) | $14.03 | $13.91 |

---

------

See Table 16 below for the calculation of tangible common equity and the reconciliation of tangible common equity to tangible assets.

**Table 16: Reconciliation of Tangible Common Equity and the Ratio of Tangible Common Equity to Tangible Assets (non-GAAP)** 

---

| | | |
|:---|:---|:---|
| | March 31, | December 31, |
| (Dollars in thousands) | 2026 | 2025 |
| Total common stockholders' equity | $3437734 | $3419240 |
| &nbsp;&nbsp;&nbsp;Intangible assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (1320799) | (1320799) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | (81325) | (84423) |
| &nbsp;&nbsp;&nbsp;Total intangibles | (1402124) | (1405222) |
| Tangible common stockholders' equity | $2035610 | $2014018 |
| Total assets | $24692783 | $24540877 |
| &nbsp;&nbsp;&nbsp;Intangible assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (1320799) | (1320799) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | (81325) | (84423) |
| &nbsp;&nbsp;&nbsp;Total intangibles | (1402124) | (1405222) |
| Tangible assets | $23290659 | $23135655 |
| Ratio of common equity to assets | 13.92% | 13.93% |
| Ratio of tangible common equity to tangible assets (non-GAAP) | 8.74% | 8.71% |

---

------

**Item 3.&nbsp;&nbsp;&nbsp;&nbsp;Quantitative and Qualitative Disclosures About Market Risk**

The Company has leveraged its investment in Simmons Bank and depends upon the dividends paid to it, as the sole shareholder of Simmons Bank, as a principal source of funds for dividends to shareholders, stock repurchases and debt service requirements. At March 31, 2026, undivided profits of Simmons Bank were approximately $133.6 million, none of which were available for the payment of dividends to the Company without regulatory approval. In addition to dividends, other sources of liquidity for the Company are the sale of equity securities and the borrowing of funds.

**Subsidiary Bank**

Generally speaking, Simmons Bank relies upon net inflows of cash from financing activities, supplemented by net inflows of cash from operating activities, to provide cash used in investing activities. Typical of most banking companies, significant financing activities include: deposit gathering; use of short-term borrowing facilities, such as federal funds purchased and repurchase agreements; and the issuance of long-term debt. Simmons Bank's primary investing activities include loan originations and purchases of investment securities, offset by loan payoffs and investment cash flows and maturities.

Liquidity represents an institution's ability to provide funds to satisfy demands from depositors and borrowers by either converting assets into cash or accessing new or existing sources of incremental funds. A major responsibility of management is to maximize net interest income within prudent liquidity constraints. Internal corporate guidelines have been established to constantly measure liquid assets as well as relevant ratios concerning earning asset levels and purchased funds. The management and Board of Directors of the subsidiary bank monitors these same indicators and makes adjustments as needed.

**Liquidity Management**

The objective of our liquidity management is to access adequate sources of funding to ensure that cash flow requirements of depositors and borrowers are met in an orderly and timely manner. Sources of liquidity are managed so that reliance on any one funding source is kept to a minimum. Our liquidity sources are prioritized for both availability and time to activation.

Our liquidity is a primary consideration in determining funding needs and is an integral part of asset/liability management. Pricing of the liability side is a major component of interest margin and spread management. Adequate liquidity is a necessity in addressing this critical task. There are seven primary and secondary sources of liquidity available to the Company. The particular liquidity need and timeframe determine the use of these sources.

The first source of liquidity available to the Company is federal funds. Federal funds are available on a daily basis and are used to meet the normal fluctuations of a dynamic balance sheet. As of March 31, 2026, Simmons Bank had approximately $435.0 million in federal funds lines of credit from upstream correspondent banks that can be accessed, if and when needed. In order to ensure availability of these upstream funds we test these borrowing lines at least annually. Historical monitoring of these funds has made it possible for us to project seasonal fluctuations and structure our funding requirements on a month-to-month basis.

Second, Simmons Bank has lines of credit available with the FHLB. While we use portions of those lines to match off longer-term mortgage loans, we also use those lines to meet liquidity needs. Approximately $5.83 billion of these lines of credit are currently available, if needed, for liquidity.

A third source of liquidity is that we have the ability to access large wholesale deposits from both the public and private sector to fund short-term liquidity needs.

A fourth source of liquidity is the retail deposits available through our network of financial centers throughout Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Although this method can be a somewhat more expensive alternative to supplying liquidity, this source can be used to meet intermediate term liquidity needs.

Fifth, we use a laddered investment portfolio that ensures there is a steady source of intermediate term liquidity. These funds can be used to meet seasonal loan patterns and other intermediate term balance sheet fluctuations. All of the investment portfolio was classified as available-for-sale or assets held for trading as of March 31, 2026, and we may generate additional liquidity through opportunistic sales of investment securities. We also use securities held in the securities portfolio to pledge when obtaining public funds.

------

Sixth, we have a network of downstream correspondent banks from which we can access debt to meet liquidity needs.

Finally, we have the ability to access funds through the Federal Reserve Bank Discount Window.

We believe the various sources available are ample liquidity for short-term, intermediate-term and long-term liquidity.

**Market Risk Management**

Market risk arises from changes in interest rates. We have risk management policies to monitor and limit exposure to market risk. In asset and liability management activities, policies designed to minimize structural interest rate risk are in place. The measurement of market risk associated with financial instruments is meaningful only when all related and offsetting on- and off-balance-sheet transactions are aggregated, and the resulting net positions are identified.

**Interest Rate Sensitivity**

Interest rate risk represents the potential impact of interest rate changes on net income and capital resulting from mismatches in repricing opportunities of assets and liabilities over a period of time. A number of tools are used to monitor and manage interest rate risk, including simulation models and interest sensitivity gap analysis. Management uses simulation models to estimate the effects of changing interest rates and various balance sheet strategies on the level of the Company's net income and capital. As a means of limiting interest rate risk to an acceptable level, management may alter the mix of floating and fixed-rate assets and liabilities, change pricing schedules and manage investment maturities during future security purchases, or enter into derivative contracts such as interest rate swaps.

The simulation model incorporates management's assumptions regarding the level of interest rates or balance changes for indeterminate maturity deposits for a given level of market rate changes. These assumptions have been developed through anticipated pricing behavior. Key assumptions in the simulation models include the relative timing of prepayments, cash flows and maturities. These assumptions are inherently uncertain and, as a result, the model cannot precisely estimate net interest income or precisely predict the impact of a change in interest rates on net income or capital. Actual results will differ from simulated results due to the timing, magnitude and frequency of interest rate changes and changes in market conditions and management strategies, among other factors.

As of March 31, 2026, the model simulations projected that 100 and 200 basis point increases in interest rates would result in a positive variance in net interest income of 0.97% and 1.98%, respectively, relative to the base case over the next 12 months. Interest rate decreases of 100 and 200 basis points would result in negative variances in net interest income of 2.08% and 3.70%, respectively, relative to the base case over the next 12 months.

These are good faith estimates and assume that the composition of our interest sensitive assets and liabilities existing at each period-end will remain constant over the relevant twelve month measurement period and that changes in market interest rates are instantaneous and sustained across the yield curve regardless of duration of pricing characteristics of specific assets or liabilities. Also, this analysis does not contemplate any potential management actions or strategic responses that we might undertake in response to changes in prevailing market interest rates. We believe these estimates are not necessarily indicative of what actually could occur in the event of immediate interest rate increases or decreases of this magnitude. As interest-bearing assets and liabilities reprice in different time frames and proportions to market interest rate movements, various assumptions must be made based on historical relationships of these variables in reaching any conclusion. Since these correlations are based on competitive and market conditions, we anticipate that our future results will likely be different from the foregoing estimates, and such differences could be material.

The table below presents our sensitivity to net interest income at March 31, 2026:

**Table 17: Net Interest Income Sensitivity**

---

| | |
|:---|:---|
| Interest Rate Scenario | % Change from Base |
| Up 200 basis points | 1.98% |
| Up 100 basis points | 0.97% |
| Down 100 basis points | (2.08)% |
| Down 200 basis points | (3.70)% |

---

------

**Item 4.&nbsp;&nbsp;&nbsp;&nbsp;Controls and Procedures**

Management, under the supervision and with the participation of the Company's Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer, has reviewed and evaluated the effectiveness of the Company's disclosure controls and procedures (as defined in Rule 13a-15(e) or Rule 15d-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer have concluded that the Company's current disclosure controls and procedures were effective at the reasonable assurance levels as of the end of the period covered by this report to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and that such information is accumulated and communicated to management, including the Company's Chief Executive Officer, Chief Financial Officer and Chief Accounting Officer, as appropriate to allow timely decisions regarding required disclosure. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that the Company's disclosure controls and procedures will detect or uncover every situation involving the failure of persons within the Company or its subsidiary to disclose material information required to be set forth in the Company's periodic reports.

**Changes in Internal Control over Financial Reporting**

There were no changes in the Company's internal controls over financial reporting during the quarter ended March 31, 2026, which materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

**Part II:&nbsp;&nbsp;&nbsp;&nbsp;Other Information**

**Item 1. &nbsp;&nbsp;&nbsp;&nbsp;Legal Proceedings**

The information contained in Note 11, Contingent Liabilities, of the Condensed Notes to Consolidated Financial Statements in Part I, Item 1 of this report is incorporated herein by reference.

**Item 1A. &nbsp;&nbsp;&nbsp;&nbsp;Risk Factors**

Other than as set forth below, there have been no material changes in the risk factors faced by the Company from those disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

***Our business is heavily reliant on information technology systems, facilities, and processes; and a disruption in those systems, facilities, and processes, or a breach, including cyber-attacks, in the security of our systems, could have significant, negative impacts on our business, result in the disclosure of confidential information, and create significant financial and legal exposure for us.***

Our businesses are dependent on our ability and the ability of our third-party service providers to process, record and monitor a large number of transactions and personally identifiable information. If the financial, accounting, data processing or other operating systems and facilities fail to operate properly, become disabled, experience security breaches or have other significant shortcomings, our results of operations could be materially, adversely affected.

Although we and our third party service providers devote significant resources to maintain and regularly upgrade our systems and processes that are designed to protect the security of computer systems, software, networks and other technology assets and the confidentiality, integrity and availability of information belonging to us and our customers, there is no assurance that our security systems and those of our third-party service providers will provide absolute security. Financial services institutions and companies engaged in data processing have reported breaches in the security of their websites or other systems, some of which have involved sophisticated and targeted attacks intended to obtain unauthorized access to confidential information, destroy data, disable or degrade service, or sabotage systems, often through the introduction of computer viruses or malware, cyber-attacks and other means. Certain financial institutions in the United States have also experienced attacks from technically sophisticated and well-resourced third parties that were intended to disrupt normal business activities by making internet banking systems inaccessible to customers for extended periods. These "denial-of-service" attacks have not breached our data security systems, but require substantial resources to defend, and may affect customer satisfaction and behavior. We, our customers, regulators and other third parties, including other financial services institutions and companies engaged in data processing, have been subject to, and are likely to continue to be the target of, cyber-attacks. The techniques used in cyber-attacks change rapidly and are increasingly sophisticated, including through the use of generative artificial intelligence and deepfakes, and we expect in the future through the use of quantum computing, and we may not be able to anticipate cyber-attacks or data security breaches.

------

Despite our efforts and those of our third party service providers to ensure the integrity of our systems, it is possible that we may not be able to anticipate or to implement effective preventive measures against all security breaches of these types, especially because the techniques used change frequently or are not recognized until launched, and because security attacks can originate from a wide variety of sources, including persons who are involved with organized crime or associated with external service providers or who may be linked to terrorist organizations or hostile foreign governments. Those parties may also attempt to fraudulently induce employees, customers or other users of our systems to disclose sensitive information in order to gain access to our data or that of our customers or clients. These risks may increase in the future as artificial intelligence continues to evolve and we continue to increase our mobile payments and other internet-based product offerings and expand our internal usage of web-based products and applications. Furthermore, because certain of our employees are working, or may work, remotely, there is an increased risk of disruption to our systems because remote networks and infrastructure may not be as secure as in our office environment. If our security systems were penetrated or circumvented, it could cause serious negative consequences for us, including significant disruption of our operations, misappropriation of our confidential information or that of our customers, or damage our computers or systems and those of our customers and counterparties, and could result in violations of applicable privacy and other laws, financial loss to us or to our customers, loss of confidence in our security measures, customer dissatisfaction, significant litigation exposure, and harm to our reputation, all of which could have a material adverse effect on us.

Additionally, as cyber-attacks continue to evolve, we may be required to expend significant additional resources to continue to modify or enhance our protective measures or to investigate and remediate any information security vulnerabilities or incidents.

***If we are unsuccessful in developing new, and adapting our current, products and services so that they respond to changing industry standards and customer preferences, our business may suffer.***

We provide a variety of commercial and consumer banking, as well as other financial, products and services designed to meet a broad range of needs. While many of these products and services are traditional both in their characteristics and their delivery channels, advancements in technology, changes in the regulatory environment, and evolving customer preferences require that we continuously evaluate the terms under which we provide our existing products and services (including, among other things, interest rates and loan covenants), the methods by which we deliver them (including the use of online and mobile banking), whether to partner with a FinTech company or other third-party vendor to provide products and services, and the potential for new products and services in order to remain competitive. These efforts, though, could require substantial investments, and we can provide no assurance that we will develop new products and services, or adequately adapt our existing products and services, in a timely or successful manner. Our inability to do so could harm our business and adversely affect our results of operations and reputation. Furthermore, any new line of business and/or new product or service could require the establishment of new key and other controls and have a significant impact on our existing system of internal controls. Failure to successfully manage these risks in the development and implementation of new lines of business and/or new products or services could have a material adverse effect on our business and, in turn, our financial condition and results of operations.

Recently, the financial services industry has experienced rapid developments in artificial intelligence, including agentic artificial intelligence. The use of artificial intelligence models developed by third parties introduces risks related to how those models are developed, trained, and deployed, including unauthorized material in training data and limited visibility into risk mitigation steps. The legal and regulatory environment for artificial intelligence is uncertain and rapidly involving, potentially increasing compliance costs and risks of noncompliance. We may be exposed to the risk that generative artificial intelligence models may produce incorrect outputs, release confidential information, reflect biases, or otherwise cause harm. Their complexity may make it challenging to understand all outputs and comply with documentation or explanation requirements. Further, regulators have warned financial institutions of an increased risk of cyber attacks with the use of artificial intelligence. Any of these risk could adversely affect our business, expose us to liability or other adverse legal or regulatory consequences, or otherwise adversely affect our financial results.

------

**Item 2. &nbsp;&nbsp;&nbsp;&nbsp;Unregistered Sales of Equity Securities and Use of Proceeds**

In January 2024, we announced a stock repurchase program ("2024 Program") under which we could repurchase up to $175.0 million of our Class A Common Stock currently issued and outstanding. The 2024 Program terminated in January 2026, and the Company's Board of Directors authorized a new stock repurchase program in January 2026 ("2026 Program") under which the Company may repurchase up to $175.0 million of its Class A common stock currently issued and outstanding. The 2026 Program will be executed in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and is set to terminate on January 31, 2028 (unless terminated sooner). The timing, pricing, and amount of any repurchases under the 2026 Program will be determined by the Company's management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the Company's common stock, corporate considerations, the Company's working capital and investment requirements, general market and economic conditions, and legal requirements.

Information concerning our purchases of common stock during the quarter ended March 31, 2026 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Period | Total Number of Shares Purchased <sup>(1)</sup> | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs |
| January 1, 2026 - January 31, 2026 |  | $— |  | $175000000 |
| February 1, 2026 - February 28, 2026 |  |  |  | $175000000 |
| March 1, 2026 - March 31, 2026 |  |  |  | $175000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  | $— |  |  |

---

_______________________________________

(1)No shares of restricted stock were purchased in connection with employee tax withholding obligations under employee compensation plans, which are not purchases under any publicly announced plan.

&nbsp;&nbsp;&nbsp;&nbsp;

**Item 5. &nbsp;&nbsp;&nbsp;&nbsp;Other Information**

During the three months ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted, modified or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933).

**Item 6. &nbsp;&nbsp;&nbsp;&nbsp;Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[3.1](https://www.sec.gov/Archives/edgar/data/90498/000155278121000595/e21468_ex3-1.htm)</u> | Amended and Restated Articles of Incorporation of Simmons First National Corporation, as amended on July 14, 2021 (incorporated by reference to Exhibit 3.1 to the Registration Statement on Form S-4 filed under the Securities Act of 1933 by Simmons First National Corporation on July 21, 2021 (File No. 333-258059)). |
| <u>[3.2](https://www.sec.gov/Archives/edgar/data/90498/000162828022028414/sfnc-093022xex32amendedand.htm)</u> | Articles of Amendment to the Amended and Restated Articles of Incorporation of Simmons First National Corporation, dated August 3, 2022 (incorporated by reference to Exhibit 3.2 to Simmons First National Corporation's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 (File No. 000-06253)). |
| <u>[3.3](https://www.sec.gov/Archives/edgar/data/90498/000162828026011618/sfnc-123125xex33amendedbyl.htm)</u> | Amended and Restated By-Laws of Simmons First National Corporation (incorporated by reference to Exhibit 3.3 to Simmons First National Corporation's Annual Report on Form 10-K for the year ended December 31, 2025 (File No. 000-06253)). |
| 4.1 | Instruments defining the rights of security holders, including indentures. Simmons First National Corporation hereby agrees to furnish copies of instruments defining the rights of holders of long-term debt of the Corporation and its consolidated subsidiaries to the U.S. Securities and Exchange Commission upon request. No issuance of debt exceeds ten percent of the total assets of the Corporation and its subsidiaries on a consolidated basis. |
| <u>[10.1](https://www.sec.gov/Archives/edgar/data/90498/000119312526088388/d89479dex101.htm)</u> | First Amendment to Executive Change in Control Severance Agreement for James M. Brogdon dated February 27, 2026 (incorporated by reference to Exhibit 10.1 to Simmons First National Corporation's Current Report on Form 8-K filed on March 3, 2026 (File No. 000-06253)). |
| <u>[10.2](sfnc-33126xex102cicxjonath.htm)</u> | Executive Change in Control Severance Agreement for Jonathan Schneider dated February 27, 2026.\* |
| <u>[10.3](sfnc-33126xex103indemnific.htm)</u> | Indemnification Agreement for Jonathan Schneider dated February 27, 2026.\* |
| <u>[10.4](sfnc-33126xex104cicxbrianj.htm)</u> | Executive Change in Control Severance Agreement for Brian Jackson dated February 27, 2026.\* |
| <u>[10.5](sfnc-33126xex105indemnific.htm)</u> | Indemnification Agreement for Brian Jackson dated February 27, 2026.\* |

---

------

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[10.6](sfnc-33126xex1062026rsuawa.htm)</u> | Form of Associated Restricted Stock Unit Award Agreement (2023 Plan – 2026 Form).\* |
| <u>[10.7](sfnc-33126xex1072026psuawa.htm)</u> | Form of Performance Share Unit Award Agreement (2023 Plan – 2026 Form).\* |
| <u>[10.8](sfnc-33126xex1082026cashaw.htm)</u> | Form of Performance Cash Award Agreement (2023 Plan – 2026 Form).\* |
| <u>[14.1](https://www.sec.gov/Archives/edgar/data/90498/000117184323007707/exh_141.htm)</u> | Amended and Restated Simmons First National Corporation Code of Ethics (as amended and restated on December 19, 2023) (incorporated by reference to Exhibit 14.1 to Simmons First National Corporation's Current Report on Form 8-K filed on December 26, 2023 (File No. 000-06253)). |
| <u>[14.2](https://www.sec.gov/Archives/edgar/data/90498/000117184323007707/exh_142.htm)</u> | Simmons First National Corporation Finance Group Code of Ethics (as amended and restated on December 19, 2023) (incorporated by reference to Exhibit 14.2 to Simmons First National Corporation's Current Report on Form 8-K filed on December 26, 2023 (File No. 000-06253)). |
| <u>[15.1](sfnc-33126xex151.htm)</u> | Awareness Letter of Forvis Mazars, LLP.\* |
| <u>[31.1](sfnc-33126xex311.htm)</u> | Rule 13a-15(e) and 15d-15(e) Certification – James M. Brogdon, President and Chief Executive Officer.\* |
| <u>[31.2](sfnc-33126xex312.htm)</u> | Rule 13a-15(e) and 15d-15(e) Certification – C. Daniel Hobbs, Executive Vice President and Chief Financial Officer.\* |
| <u>[31.3](sfnc-33126xex313.htm)</u> | Rule 13a-15(e) and 15d-15(e) Certification – David W. Garner, Executive Vice President and Chief Accounting Officer.\* |
| <u>[32.1](sfnc-33126xex321.htm)</u> | Certification Pursuant to 18 U.S.C. Sections 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – James M. Brogdon, President and Chief Executive Officer.\*\* |
| <u>[32.2](sfnc-33126xex322.htm)</u> | Certification Pursuant to 18 U.S.C. Sections 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – C. Daniel Hobbs, Executive Vice President and Chief Financial Officer.\*\* |
| <u>[32.3](sfnc-33126xex323.htm)</u> | Certification Pursuant to 18 U.S.C. Sections 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – David W. Garner, Executive Vice President and Chief Accounting Officer.\*\* |
| 101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\* |
| 101.SCH | Inline XBRL Taxonomy Extension Schema.\* |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase.\* |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase.\* |
| 101.LAB | Inline XBRL Taxonomy Extension Labels Linkbase.\* |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase.\* |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |

---

________________________________________________________________________________________________________

\* Filed herewith

\*\* Furnished herewith

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

**<u>SIMMONS FIRST NATIONAL CORPORATION</u>**

(Registrant)

---

| | | |
|:---|:---|:---|
| Date: | <u>May 6, 2026</u> | /s/ James M. Brogdon |
|  |  | James M. Brogdon |
|  |  | President and Chief Executive Officer |
|  |  | (Principal Executive Officer) |
| Date: | <u>May 6, 2026</u> | /s/ C. Daniel Hobbs |
|  |  | C. Daniel Hobbs |
|  |  | Executive Vice President and Chief Financial Officer |
|  |  | (Principal Financial Officer) |
| Date: | <u>May 6, 2026</u> | /s/ David W. Garner |
|  |  | David W. Garner |
|  |  | Executive Vice President and Chief Accounting Officer |
|  |  | (Principal Accounting Officer) |

---

## Exhibit 10.2

Exhibit 10.2

**EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT**

**THIS EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT** ("**Agreement**") is made and entered into as of February 27, 2026 (the "**Effective Date**"), by and among Simmons First National Corporation ("**Company**"), an Arkansas corporation, Simmons Bank ("**Bank**" and together with the Company (as more fully described in Article 12), "**Simmons**"), an Arkansas state bank and Jonathan Schneider ("**Executive**").

**R E C I T A L S:**

WHEREAS, Simmons acknowledges that the Executive is to significantly contribute to the growth and success of Simmons, and as a publicly held corporation, a Change in Control of the Company may occur with or without the approval of the Board of Directors of the Company ("**Company Board**"), and the Company Board also recognizes that the possibility of such a Change in Control may contribute to uncertainty on the part of senior management resulting in distraction from their operating responsibilities or in the departure of senior management;

WHEREAS, concurrently with executing this Agreement, the Company and the Executive have executed and delivered an indemnification agreement providing the Executive with indemnification with respect to his service to Simmons as a member of senior management.

NOW, THEREFORE, in consideration of the mutual covenants and obligations herein and the compensation Simmons agrees herein to pay the Executive, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Simmons and the Executive agree as follows:

**ARTICLE 1**

**TERM OF AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;Term**. This Agreement shall be effective for thirty-six (36) months from the Effective Date and will automatically be extended for twelve (12) months as of each anniversary date of the Effective Date ("**Agreement Term**") unless the Agreement is terminated by Simmons upon written notification to the Executive, within thirty (30) days before an anniversary date of the Effective Date, that the Agreement will terminate as of last day of the Agreement Term as in effect immediately prior to such anniversary date.

Unless Simmons has effectively terminated this Agreement as prescribed above in this Section 1.1, in the event of a Change in Control, the Agreement Term shall be amended to twenty-four (24) months commencing upon the Control Change Date (as defined in Section 1.3) and shall then expire at the end of such twenty-four (24) month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;Change in Control.** Change in Control shall mean a change in ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the Company, each as defined in Treasury Regulation Section 1.409A-3(i)(5) or any subsequently applicable Treasury Regulation.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3&nbsp;&nbsp;&nbsp;&nbsp;Control Change Date.** Control Change Date means the date on which an event described in Section 1.2 occurs. If a Change in Control occurs on account of a series of transactions, the Control Change Date is the date of the last of such transactions.

**ARTICLE 2**

**TERMINATION OF EMPLOYMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;General**. The Executive shall be entitled to receive Termination Compensation, as defined in Section 2.5, according to this Article if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Executive's employment is involuntarily terminated as specified in Section 2.2, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Executive voluntarily terminates employment as specified in Section 2.3;

provided, however, that no Termination Compensation shall be payable to the Executive, and the Executive shall forfeit all rights, under Section 2.5 of this Agreement unless a Release in substantially the form attached as **Exhibit A** (the "**Release**") is signed and becomes irrevocable within the time period specified by the Release for review and revocation. To the extent any Termination Compensation under Section 2.5 has been paid and the Release requirement of this Section 2.1 is not met, then any such Termination Compensation previously paid shall be forfeited and the Executive shall repay such forfeited Termination Compensation to Simmons within thirty (30) days following demand by Simmons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;Termination by Simmons**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Executive shall be entitled to receive Termination Compensation (as described in Section 2.5) if during an Agreement Term, all employment of the Executive is terminated by Simmons without Cause on or after a Control Change Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Executive shall be entitled to receive Termination Compensation (as described in Section 2.5) if during an Agreement Term, all employment of the Executive is terminated by Simmons without Cause within the 180 days immediately preceding a Control Change Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cause means, for purposes of this Agreement, (i) willful and continued failure by the Executive to perform his duties as established by Simmons; (ii) a material breach by the Executive of his fiduciary duties of loyalty or care to Simmons; (iii) conviction of a felony; or (iv) willful, flagrant, deliberate and repeated infractions of material published policies and procedures of Simmons of which the Executive has actual knowledge ("**Cause Exception**"). If Simmons desires to discharge the Executive under the Cause Exception, it shall give notice to the Executive as provided in Section 2.7 and the Executive shall have thirty (30) days after notice has been given to him in which to cure the reason for Simmons' exercise of the Cause Exception. If the reason for Simmons' exercise of the Cause Exception is timely cured by the Executive (as determined by a committee appointed by the Board of Directors of Simmons), Simmons' notice shall become null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Termination.** The Executive shall be entitled to receive Termination Compensation (as defined in Section 2.5) if a Change in Control occurs during an Agreement Term, and the Executive voluntarily terminates employment after a Control Change Date during an Agreement Term and within six (6) months following the occurrence of a Trigger Event.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4&nbsp;&nbsp;&nbsp;&nbsp;Trigger Event**. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as Simmons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Company or the Bank requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any decrease, without the Executive's written consent, in the Executive's (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Company or the Bank shall fail to make a payment when due to the Executive; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;a breach by Simmons of the obligations set forth in Article 15 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5&nbsp;&nbsp;&nbsp;&nbsp;Termination Compensation**. Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30<sup>th</sup>) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7<sup>th</sup>) month following the Executive's employment termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6&nbsp;&nbsp;&nbsp;&nbsp;Base Period Income**. The Executive's Base Period Income equals the sum of (a) his annual base salary as of the Executive's termination date, and (b) the greater of: (i) the average of any annual cash incentive award paid or payable to the Executive for the Company's last two completed fiscal years prior to the Executive's employment termination or (ii) the Executive's target annual cash incentive award opportunity for the year in which the Executive's employment termination occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7&nbsp;&nbsp;&nbsp;&nbsp;Notice of Termination**. Any termination by Simmons under the Cause Exception or by the Executive after a Trigger Event shall be communicated by Notice of Termination to the other party hereto. A "**Notice of Termination**" shall be a written notice which (a) indicates the specific termination provision in this Agreement relied upon, (b) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (c) if the termination date is other than the date of receipt of such notice, specifies the effective date of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8**&nbsp;&nbsp;&nbsp;&nbsp;**Specified Employee.** Specified Employee is a "specified employee" (within the meaning of Section 409A (as defined below)) of Simmons (or any related "service recipient" within the meaning of Section 409A).

&nbsp;&nbsp;&nbsp;&nbsp;

------

**ARTICLE 3**

**ATTORNEYS' FEES**

In the event that the Executive incurs any attorneys' fees in protecting or enforcing his rights under this Agreement and the Executive prevails on at least one material point in such dispute or claim, Simmons shall reimburse the Executive for such reasonable attorneys' fees and for any other reasonable expenses related thereto. Such reimbursement shall be made within thirty (30) days following the Executive's written request (which must include a detailed description of such fees and expenses) which must be submitted within thirty (30) days following final resolution of the dispute or claim giving rise to such fees and expenses.

**ARTICLE 4**

**LIFE INSURANCE POLICIES** 

In connection with the Executive's termination of employment, the life insurance and accidental death and dismemberment coverage provided by Simmons for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive's termination of employment, Simmons shall not be obligated to continue the Executive's participation in the Simmons First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's employment, except as specifically provided pursuant to the terms of the program documents governing such program.

**ARTICLE 5**

**MITIGATION OF PAYMENT**

Simmons and the Executive agree that, following the termination of employment by the Executive with Simmons, the Executive has no obligation to take any steps whatsoever to secure other employment and such failure by the Executive to search for or to find other employment upon termination from Simmons shall in no way impact the Executive's right to receive payment under any of the provisions of this Agreement.

**ARTICLE 6**

**DECISIONS BY SIMMONS; FACILITY OF PAYMENT**

Any powers granted to the Board of Directors of Simmons hereunder may be exercised by a committee, appointed by the Board of Directors of Simmons, and such committee, if appointed, shall have general responsibility for the administration and interpretation of this Agreement. If the Board of Directors of Simmons or the committee shall find that any person to whom any amount is or was payable hereunder is unable to care for his affairs because of illness or accident, or has died, then the Board of Directors of Simmons or the committee, if it so elects, may direct that any payment due him or his estate (unless a prior claim therefore has been made by a duly appointed legal representative) or any part thereof be paid or applied for the benefit of such person or to or for the benefit of his spouse, children or other dependents, an institution maintaining or having custody of such person, any other person deemed by the Board of Directors of Simmons or committee to be a proper recipient on behalf of such person otherwise entitled to payment, or any of them, in such manner and proportion as the Board of Directors of Simmons or committee may deem proper. Any such payment shall be in complete discharge of the liability of Simmons therefor.

------

**ARTICLE 7**

**SOURCE OF PAYMENTS; NO TRUST**

The obligations of Simmons to make payments hereunder shall constitute an unsecured liability of Simmons to the Executive. Such payments shall be made from the general funds of Simmons, and Simmons shall not be required to establish or maintain any special or separate fund, or otherwise to segregate assets to assure that such payments shall be made, and neither the Executive nor his designated beneficiary shall have any interest in any particular asset of Simmons by reason of its obligations hereunder. Nothing contained in this Agreement shall create or be construed as creating a trust of any kind or any other fiduciary relationship between Simmons and the Executive or any other person. To the extent that any person acquires a right to receive payments from Simmons hereunder, such right shall be no greater than the right of an unsecured creditor of Simmons.

**ARTICLE 8**

**REDUCTION IN BENEFITS, EXCISE TAX**

In the event that the severance and other benefits provided for in this Agreement or otherwise payable to the Executive (a) constitute "parachute payments" within the meaning of Section 280G of the Code and (b) but for this Article 8, would be subject to the excise tax imposed by Section 4999 of the Code, then the Executive's payments and benefits will be either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; delivered in full, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; delivered as to such lesser extent which would result in no portion of such severance benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by the Executive on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code.

If a reduction in severance and other payments and benefits constituting "parachute payments" is necessary so that benefits are delivered to a lesser extent, reduction will occur in the following order: (I) reduction of cash payments; (II) cancellation of awards granted "contingent on a change in ownership or control" (within the meaning of Code Section 280G), (III) cancellation of accelerated vesting of equity awards, and (IV) reduction of employee benefits. In the event that acceleration of vesting of equity award compensation is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant of the Executive's equity awards.

Any determination required under this Article 8 will be made in writing by Simmons' independent tax accountants engaged by Simmons for general tax purposes immediately prior to the Change in Control ("**Accountants**"), whose good faith determination will be conclusive and binding upon the Executive and Simmons for all purposes. If the tax accounting firm so engaged by Simmons is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, or if such firm otherwise cannot perform the calculations, Simmons shall appoint a nationally recognized independent registered public accounting firm to make the determinations required hereunder. For purposes of making the calculations, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. Simmons and the Executive will furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. Simmons will bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Article 8.

------

**ARTICLE 9**

**SEVERABILITY**

All agreements and covenants contained herein are severable, and in the event any of them shall be held to be invalid by any competent court, this Agreement shall be interpreted as if such invalid agreements or covenants were not contained herein.

**ARTICLE 10**

**ASSIGNMENT PROHIBITED**

This Agreement is personal to each of the parties hereto, and no party may assign or delegate any of his or its rights or obligations hereunder except as specified in Article 15. Any attempt to assign any rights or delegate any obligations under this Agreement shall be void.

**ARTICLE 11**

**NO ATTACHMENT**

Except as otherwise provided in this Agreement or required by applicable law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation or to execution, attachment, levy, or similar process or assignment by operation of law and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.

**ARTICLE 12**

**HEADINGS AND INTERPRETATION**

The headings of articles, paragraphs and sections herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. References herein to "Simmons" shall refer to both the Company and the Bank or the Company or the Bank, as the context requires, and the Company and the Bank shall have the option to perform the obligations provided herein, in their sole discretion, through either entity; provided, however, that for purposes of such obligations and the rights of Simmons under this Agreement, the Company and Bank shall be treated as one and the same; provided, further, that this statement shall not be deemed ineffective or construed to have any effect other than the effect expressly stated herein by reference in this Agreement to both the Company and the Bank, such references included solely to emphasize in certain places the intent of this statement and the Agreement as a whole. The Executive may enforce his rights against either the Company, the Bank, or both the Company and the Bank.

**ARTICLE 13**

**GOVERNING LAW**

The parties intend that this Agreement and the performance hereunder and all suits and special proceedings hereunder shall be construed in accordance with and under and pursuant to the laws of the State of Arkansas, and that in any action, special proceeding or other proceeding that may be brought arising out of, in connection with, or by reason of this Agreement, the laws of the State of Arkansas, shall be applicable and shall govern to the exclusion of the law of any other forum, without regard to the jurisdiction in which any action or special proceeding may be instituted.

&nbsp;&nbsp;&nbsp;&nbsp;

------

**ARTICLE 14**

**BINDING EFFECT**

This Agreement shall be binding upon, and inure to the benefit of, the Executive and his heirs, executors, administrators and legal representatives and Simmons and its permitted successors and assigns. &nbsp;&nbsp;&nbsp;&nbsp;

**ARTICLE 15**

**MERGER OR CONSOLIDATION**

Simmons shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or the Bank ("**Successor Corporation**") to assume expressly and agree to perform this Agreement in the same manner and to the same extent that Simmons would be required to perform it if no such succession had taken place. Upon such assumption, the Executive and the Successor Corporation shall become obligated to perform the terms and conditions of this Agreement.

**ARTICLE 16**

**ENTIRE AGREEMENT**

This Agreement expresses the whole and entire agreement between the parties with reference to the Executive's change in control-related severance and, as of the Effective Date, supersedes and replaces any prior employment agreement, understanding or arrangement (whether written or oral) between Simmons and the Executive on this subject; provided, however, that, for the avoidance of doubt, nothing herein shall affect the rights of the Executive and the Company under (a) the Indemnification Agreement dated as of October 21, 2025 between the Company and the Executive, (b) any Associate Agreement and (c) the terms and conditions associated with any grant of restricted stock units or other equity award. Each of the parties hereto has relied on his or its own judgment in entering into this Agreement.

**ARTICLE 17**

**NOTICES**

All notices, requests and other communications to any party under this Agreement shall be in writing and shall be given to such party at its address set forth below or such other address as such party may hereafter specify for the purpose by notice to the other party:

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| (a) | If to the Executive: | Jonathan Schneider |
| | | 4108 Teaberry Court |
| | | Flower Mound, TX 75028 |
| (b) | If to the Company or the Bank: | If to the Company or the Bank: |
| | | Simmons First National Corporation / Simmons Bank |
| | | Attention: Chairman |
| | | P.O. Box 7009 |
| | | Pine Bluff, Arkansas 71611 |

---

Each such notice, request or other communication shall be effective (i) if given by mail, 72 hours after such communication is deposited in the mail with first class postage prepaid, addressed as aforesaid or (ii) if given by any other means, when delivered at the address specified in this Article 17.

------

**ARTICLE 18**

**MODIFICATION OF AGREEMENT**

No waiver or modification of this Agreement or of any covenant, condition, or limitation herein contained shall be valid unless in writing and duly executed by the party to be charged therewith. No evidence of any waiver of modification shall be offered or received in evidence at any proceeding, arbitration, or litigation between the parties hereto arising out of or affecting this Agreement, or the rights or obligations of the parties hereunder, unless such waiver or modification is in writing, duly executed as aforesaid. The parties further agree that the provisions of this Article 18 may not be waived except as herein set forth.

**ARTICLE 19**

**TAXES**

To the extent required by applicable law, Simmons shall deduct and withhold all necessary Social Security taxes and all necessary federal and state withholding taxes and any other similar sums required by laws to be withheld from any payments made pursuant to the terms of this Agreement. This term shall be construed in conjunction with Article 8 and shall not supersede or modify it in any way.

**ARTICLE 20**

**409A COMPLIANCE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The intent of the parties is that payment and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable Treasury regulations and administrative guidance issued thereunder (collectively, "**Section 409A**") or comply with an exemption from the application of Section 409A and, accordingly, all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Neither the Executive, the Company, nor the Bank shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any matter which would not be in compliance with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the form or timing of payment of any amounts or benefits upon or following a termination of employment unless such termination is also a "separation from service" (within the meaning of Section 409A) and, for purposes of any such provision of this Agreement under which (and to the extent) deferred compensation subject to Section 409A is paid, references to a "termination" or "termination of employment" or like references shall mean separation from service. A "separation from service" shall not occur under Section 409A unless such Executive has completely severed the Executive's relationship with the Company and Bank or the Executive has permanently decreased Executive's services to twenty percent (20%) or less of the average level of bona fide services over the immediately preceding thirty-six (36) month period (or the full period if the Executive has been providing services for less than thirty-six (36) months). A leave of absence shall only trigger a termination of employment that constitutes a separation from service at the time required under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Notwithstanding any other provision of this Agreement, the Executive shall be solely liable, and neither the Company nor the Bank shall be liable in any way to the Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A otherwise fails to comply with, or be exempt from, the requirements of Section 409A.

------

**ARTICLE 21**

**RECITALS**

The Recitals to this Agreement are incorporated herein and shall constitute an integral part of this Agreement.

**ARTICLE 22**

**COUNTERPARTS**

This Agreement shall become legally binding when the last party hereto executes and delivers this Agreement. This Agreement may be executed and delivered in multiple counterparts (including by Docusign/Echosign or a similarly accredited secure signature service or other electronic transmission or signature), each of which when so executed and delivered shall be deemed to be an original, and all of which together shall constitute one and the same instrument. Counterparts may be delivered by facsimile, e-mail (including .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall be valid and effective for all purposes.

*[Remainder of page intentionally blank. Signatures on next page]*

------

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

---

| | |
|:---|:---|
| **EXECUTIVE:** | /s/ Jonathan Schneider |
|  | Jonathan Schneider |
| **COMPANY:** | **SIMMONS FIRST NATIONAL CORPORATION** |
| By: | /s/ Jena Compton |
| Title: | EVP Chief People Officer |
| **BANK:** | **SIMMONS BANK** |
| By: | /s/ Jena Compton |
| Title: | EVP Chief People Officer |

---

------

Exhibit A

RELEASE

In consideration of the benefits promised in the Executive Change in Control Severance Agreement to which this Release is attached as **Exhibit A** (and further defined below), Jonathan Schneider (the "**Executive**"), hereby irrevocably and unconditionally releases, acquits, and forever discharges Simmons First National Corporation (the "**Company**") and Simmons Bank (the "**Bank**"), and each of their agents, directors, members, shareholders, affiliated entities, officers, employees, former employees, attorneys, and all persons acting by, through, under or in concert with any of them (collectively "**Releasees**") from any and all charges, complaints, claims, liabilities, grievances, obligations, promises, agreements, controversies, damages, policies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any rights arising out of alleged violations or breaches of any contracts, express or implied, or any tort, or any legal restrictions on Releasees' right to terminate employees, or any federal, state or other governmental statute, regulation, law or ordinance, including without limitation, (1) Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, (2) the Americans with Disabilities Act, (3) 42 U.S.C. § 1981, (4) the federal Age Discrimination in Employment Act (age discrimination), (5) the Older Workers Benefit Protection Act, (6) the Equal Pay Act, (7) the Family and Medical Leave Act, (8) the Employee Retirement Income Security Act, and (9) the Arkansas Civil Rights Act ("**Claim**" or "**Claims**"), which the Executive now has, owns or holds, or claims to have, own or hold, or which the Executive at any time heretofore had owned or held, or claimed to have owned or held, against each or any of the Releasees at any time up to and including the date of the execution of this Release.

Nothing in this Release shall restrict or prohibit the Executive or the Executive's counsel from filing a charge or complaint with, initiating communications directly with, responding to any inquiry from, volunteering information to, or providing testimony before a self-regulatory authority or a governmental, law enforcement or other regulatory authority, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Congress, and any Office of Inspector General (collectively, the "**Regulators**"), from participating in any reporting of, investigation into, or proceeding regarding suspected violations of law, or from making other disclosures that are protected under or from receiving an award for information provided under the whistleblower award programs administered by a state or federal agency. The Executive does not need the prior authorization of the Company or the Bank to engage in such communications with the Regulators, respond to such inquiries from the Regulators, provide confidential information or documents containing confidential information to the Regulators, or make any such reports or disclosures to the Regulators. The Executive is not required to notify the Company or the Bank that the Executive has engaged in such communications with the Regulators. The Executive recognizes and agrees that, in connection with any such activity outlined above, the Executive must inform the Regulators that the information the Executive is providing is confidential. To the extent, that any such charge or complaint is made against the Releasees, the Executive expressly waives any claim or right to any form of monetary relief or other damages, or any form of individual recovery or relief in connection with any such charge or complaint, except that the Executive does not waive his right with respect to any government-issued award for information provided under the whistleblower award programs administered by a state or federal agency.

In addition, pursuant to the Defend Trade Secrets Act of 2016, the Executive is notified that an individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official (directly or indirectly) or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if (and only if) such filing is made under seal. In addition, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the individual's attorney and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.

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The Executive hereby acknowledges and agrees that the execution of this Release and the cessation of the Executive's employment and all actions taken in connection therewith are in compliance with the federal Age Discrimination in Employment Act and the Older Workers Benefit Protection Act and that the releases set forth above shall be applicable, without limitation, to any claims brought under these Acts. The Executive further acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Release given by the Executive is given solely in exchange for the benefits set forth in the Executive Change in Control Severance Agreement dated as of October 21, 2025 between the Company, the Bank and the Executive to which this Release was initially attached and such consideration is in addition to anything of value which the Executive was entitled to receive prior to entering into this Release;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.By entering into this Release, the Executive does not waive any rights the Executive may have to indemnification, including without limitation indemnification for attorneys' fees, costs and/or expenses, pursuant to applicable statute, the articles of incorporation and by-laws of the Company or the Bank or pursuant to the Indemnification Agreement dated as of October 21, 2025 between the Company and the Executive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.By entering into this Release, the Executive does not waive rights or claims that may arise after the date this Release is executed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.By entering into this Release, and subject to the limitations above, the Executive agrees not to knowingly make any statement or engage in any conduct which may reasonably be expected to have the effort of disparaging the Company or the Bank to any: (i) media; (ii) potential, current or former employees; or (iii) third parties. The Executive acknowledges that the Company and the Bank will be irreparably harmed by a breach of this provision and that there may be no adequate remedy at law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.The Executive has been advised to consult an attorney prior to entering into this Release, and this provision of the Release satisfies the requirements of the Older Workers Benefit Protection Act that the Executive be so advised in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.The Executive has been offered twenty-one (21) days [or 45 days if applicable] from receipt of this Release within which to consider whether to sign this Release; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.For a period of seven (7) days following the Executive's execution of this Release, the Executive may revoke this Release by delivering the revocation to the Chief People Officer of the Company, and it shall not become effective or enforceable until such seven (7) day period has expired.

This Release shall be binding upon the heirs and personal representatives of the Executive and shall inure to the benefit of the successors and assigns of the Company and the Bank.

&nbsp;&nbsp;&nbsp;&nbsp;

Date: <br> Jonathan Schneider

## Exhibit 10.3

Exhibit 10.3

**INDEMNIFICATION AGREEMENT**

This INDEMNIFICATION AGREEMENT ("Agreement"), dated as of February 27, 2026 (the "Effective Date"), is made by and between Simmons First National Corporation, an Arkansas corporation ("Company"), and the undersigned indemnitee ("Indemnitee").

RECITALS

A.The Company recognizes that competent and experienced persons are increasingly reluctant to serve or to continue to serve as directors or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such directors and officers;

B.The statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous, or conflicting, and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed or information regarding the proper course of action to take;

C.The Company believes that it is unfair for its directors and officers to assume the risk of large judgments and other expenses which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable;

D.The Company, after reasonable investigation, has determined that the liability insurance coverage presently available to the Company may be inadequate in certain circumstances to cover all possible exposure for which Indemnitee should be protected. The Company believes that the interests of the Company and its shareholders would best be served by a combination of such insurance and the indemnification by the Company of the directors and officers of the Company;

E.The indemnification provisions applicable to directors and officers contained in the Company's Amended and Restated Articles of Incorporation ("Articles") and the Company's By-laws ("By-laws") expressly provide that such right of indemnification is not exclusive, and contemplate that agreements may be entered into between the Company and its directors and officers with respect to indemnification;

F.Section 850 of the Arkansas Business Corporation Act of 1987 ("Act") (Arkansas Code Section 4-27-850) ("Section 850") empowers the Company to indemnify its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Company, as the directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification provided by Section 850 is not exclusive;

G.The Board of Directors of the Company ("Board") has determined that contractual indemnification as set forth herein is not only reasonable and prudent but also promotes the best interests of the Company and its shareholders;

H.The Company desires and has requested Indemnitee to serve or continue to serve as a director and/or officer of the Company, or an affiliate or subsidiary thereof, free from undue concern for unwarranted claims for damages arising out of or related to such services to the Company, or an affiliate or subsidiary thereof; and

I.Indemnitee is willing to serve, continue to serve or to provide additional service for or on behalf of the Company, or an affiliate or subsidiary thereof, on the condition that Indemnitee is furnished the indemnity provided for herein.

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AGREEMENT

NOW, THEREFORE, in consideration of Indemnitee's service or continued service as a director, officer, and/or other key employee of the Company or an affiliate or subsidiary thereof, the mutual covenants and agreements set forth below, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

1.<u>Generally</u>. To the fullest extent permitted by the laws of the State of Arkansas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Company shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to, or is involved in, any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent (which, for purposes of this Agreement, shall include, without limitation, a trustee, partner or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise). For the avoidance of doubt, the foregoing indemnification obligation includes, without limitation, claims for monetary damages against Indemnitee in respect of an alleged breach of fiduciary duties, to the fullest extent permitted under Section 202(b)(3) of the Act as in existence on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The indemnification provided by this Section 1 shall be from and against all expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf in connection with such action, suit or proceeding, but shall only be provided if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action, suit or proceeding, had no reasonable cause to believe Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee's conduct was unlawful.

2.<u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of the Agreement to indemnification by the Company for some or a portion of the expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf in connection with any action, suit or proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) to which Indemnitee is entitled.

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3.<u>Advance Payment of Expenses; Notification and Defense of Claim.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Expenses incurred by Indemnitee or on Indemnitee's behalf in defending any action, suit or proceeding by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) or in connection with an enforcement action pursuant to Section 4(b) shall be paid by the Company in advance of the final disposition of such action, suit or proceeding within ten (10) days after receipt by the Company of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time, and (ii) an undertaking by or on behalf of Indemnitee to repay such amount if it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company as authorized by the Act, the Agreement or otherwise. Such undertaking shall be accepted without reference to the financial ability of Indemnitee to make such repayment. Advances shall be unsecured and interest-free. For the avoidance of doubt, advances shall include, without limitation, any and all expenses incurred pursuing an action to enforce this right of advancement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim thereof is to be made against the Company hereunder, notify the Company of the commencement thereof. The failure to promptly notify the Company of the commencement of the action, suit or proceeding, or of Indemnitee's request for indemnification, will not relieve the Company from any liability that it may have to Indemnitee hereunder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.In the event the Company shall be obligated to pay the expenses of Indemnitee with respect to an action, suit or proceeding as provided in the Agreement, the Company, if appropriate, shall be entitled to assume the defense of such action, suit or proceeding with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under the Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee's own counsel in such action, suit or proceeding at Indemnitee's expense and (2) if (i) the employment of counsel by Indemnitee has been previously authorized in writing by the Company, (ii) counsel to the Company or Indemnitee shall have reasonably concluded that there may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on any significant issue between the Company and Indemnitee in the conduct of any such defense or (iii) the Company shall not, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee's counsel shall be at the expense of the Company, except as otherwise expressly provided by the Agreement. The Company shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company or as to which counsel for the Company or Indemnitee shall have reasonably made the conclusion provided for in clause (ii) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Notwithstanding any other provision of the Agreement to the contrary, to the extent that Indemnitee is, by reason of Indemnitee's corporate status with respect to the Company or any corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise which Indemnitee is or was serving or has agreed to serve at the request of the Company, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Company shall indemnify Indemnitee against all expenses (including, without limitation, attorneys' fees) actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection therewith.

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4.<u>Procedure for Indemnification.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.To obtain indemnification, Indemnitee shall promptly submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The Company shall determine whether to grant Indemnitee's indemnification request promptly, and in any event within sixty (60) days following receipt of a request for indemnification pursuant to Section 4(a), and in accordance with applicable law. The right to indemnification as granted by the Agreement shall be enforceable by Indemnitee in any court of competent jurisdiction if the Company denies such request, in whole or in part, or fails to respond within such 60-day period. Any such action shall be conducted as a de novo trial, on the merits. It shall be a defense to any such action (other than an action brought to enforce a claim for the advancement of expenses under Section 3 hereof where the required undertaking, if any, has been received by the Company) that Indemnitee has not met the standard of conduct set forth in Section 1 hereof, but the burden of proving such defense by clear and convincing evidence shall be on the Company. Neither the failure of the Company (including its Board, its independent legal counsel, and its shareholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof, nor the fact that there has been an actual determination by the Company (including its Board, its independent legal counsel, or its shareholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct or otherwise prejudice Indemnitee. The Company shall also indemnify the Indemnitee from and against the Indemnitee's expenses (including, without limitation, attorneys' fees) incurred in connection with (1) successfully establishing Indemnitee's right to indemnification, in whole or in part, in any such proceeding or otherwise, and (2) successfully establishing Indemnitee's right to advancement of expenses, in whole or in part, in any proceeding or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The Indemnitee shall be presumed to be entitled to indemnification under the Agreement upon submission of a request for indemnification pursuant to this Section 4, and the Company shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for a determination of entitlement to indemnification unless the Company overcomes such presumption by clear and convincing evidence. If a determination that Indemnitee is entitled to indemnification has been made pursuant this Section 4 or otherwise pursuant to the terms of this Agreement, the Company shall be bound by such determination in the absence of (i) misrepresentation of a material fact by Indemnitee or (ii) a specific finding (which has become final) by an appropriate court that all or any part of such indemnification is expressly prohibited by law.

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5.<u>Insurance and Subrogation.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Company may purchase and maintain insurance on behalf of Indemnitee who is or was a director or officer of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) against any liability asserted against Indemnitee and incurred by Indemnitee or on Indemnitee's behalf in any such capacity or arising out of such status, whether or not the Company would have the power to indemnify Indemnitee against such liability. To the extent that the Company maintains liability insurance for directors and officers of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise on which any such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for such director or officer under such policy or policies. If the Company has such insurance in effect at the time the Company receives from Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit or proceeding in accordance with the terms of such policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.In the event of any payment by the Company under the Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such subrogation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The Company shall not be liable under the Agreement to make any payment of amounts otherwise indemnifiable hereunder (including, without limitation, ERISA excise taxes or penalties, judgments, fines and amounts paid or to be paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

6.<u>Certain Definitions</u>. For purposes of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The term "action, suit or proceeding" shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action, suit or proceeding, whether civil, criminal, administrative or investigative, and whether instituted by, in the right of, or on behalf of the Company or any other party or parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The term "by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise)" shall be broadly construed and shall include, without limitation, any actual or alleged act or omission to act by Indemnitee in such capacity.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The term "expenses" shall be broadly and reasonably construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys' fees and related disbursements, appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party, provided that the rate of compensation and estimated time involved is approved by the Board, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with the investigation, preparation, prosecution, defense, settlement, arbitration or appeal of (or the giving of testimony in) an action, suit or proceeding or establishing or enforcing a right to indemnification or advancement under the Agreement, Section 850 or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.The term "judgments, fines and amounts paid or to be paid in settlement" shall be broadly construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever (including, without limitation, all penalties and amounts required to be forfeited or reimbursed to the Company), as well as any penalties or excise taxes assessed on a person with respect to an employee benefit plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.The term "Company" shall include, without limitation and in addition to the resulting corporation, any constituent corporation (including, without limitation, any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors or officers, so that any person who is or was a director or officer of such constituent corporation (or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) shall stand in the same position under the provisions of the Agreement with respect to the resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.The term "other enterprise" shall include, without limitation, employee benefit plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.The term "fines" shall include, without limitation, any excise taxes assessed on a person with respect to an employee benefit plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h.The term "serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise", as well as variations thereof, shall include (without limitation) in each case service to or actions taken while a director, officer, trustee, employee or agent of any subsidiary or affiliate of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The term "serving at the request of the Company" shall also include, without limitation, any service as a director, officer, employee or agent of the Company or an affiliate or subsidiary thereof which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j.With respect to matters involving employee benefit plans, a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to in the Agreement.

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7.<u>Limitations on Indemnification</u>. Notwithstanding any other provision herein to the contrary, the Company shall not be obligated pursuant to the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement, any other agreement, any insurance policy, the Articles, the By-laws, any law or otherwise, unless such action, suit or proceeding (or part thereof) was authorized or consented to by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Improper Benefits. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) based upon or attributable to the Indemnitee gaining in fact any remuneration, personal profit or advantage to which Indemnitee was not legally entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Section 16 Violations. To indemnify Indemnitee on account of any action, suit or proceeding with respect to which final judgment is rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Reimbursement of the Company. To indemnify Indemnitee for any reimbursement of the Company by Indemnitee of any bonus, other incentive-based or equity-based compensation, or of any profits realized by Indemnitee from the sale of securities of the Company, in each case as may be required pursuant to any applicable federal or other law or regulation (including, without limitation, any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act of 2002), any applicable listing standard of a national securities exchange or system on which the common stock of the Company is then listed or reported or pursuant to any incentive compensation recovery or clawback policy as may be adopted from time to time by the Board or one of its committees, or any expenses incurred by Indemnitee in connection with any action, suit or proceeding to enforce such reimbursement obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Non-compete, Non-solicitation, Non-disclosure, Non-disparagement. To indemnify Indemnitee in connection with any action, suit or proceeding involving the enforcement of non-compete, non-solicitation, non-disclosure and/or non-disparagement agreements, or the non-compete, non-solicitation, non-disclosure and/or non-disparagement provisions of employment, consulting, severance or similar agreements, to which the Indemnitee may be a party with the Company, or any subsidiary of the Company or any other applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.Payments Prohibited by Law. To indemnify or advance expenses to Indemnitee where such indemnification or advancement of expenses related thereto are prohibited by any applicable law or regulation promulgated by any federal or state legislation or banking regulatory agency.

8.<u>Certain Settlement Provisions.</u> The Company shall have no obligation to indemnify Indemnitee under the Agreement for amounts paid in settlement of any action, suit or proceeding without the Company's prior written consent, which shall not be unreasonably withheld. The Company shall not settle any action, suit or proceeding in any manner that would impose any fine, judgment, penalty, liability, loss, expense, limitation or other obligation on Indemnitee without Indemnitee's prior written consent; provided, however, that, with respect to settlements requiring solely the payment of money either by the Company or by Indemnitee for which the Company is obligated to reimburse Indemnitee promptly and completely, in either case without recourse to Indemnitee, no such consent of Indemnitee shall be required.

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9.<u>Severability</u>. If any provision or provisions of the Agreement shall be held to be invalid, illegal, void, or unenforceable on any ground by any court of competent jurisdiction, then (1) this Agreement shall be deemed automatically modified to the extent necessary to (a) make such provision or provisions valid, legal, and enforceable and (b) as closely as possible maintain and accomplish the original intent of the provision or provisions in question, and (2) the remaining provisions of this Agreement shall not be affected and shall remain in full force and effect.

10.<u>Contribution</u>. In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest extent permitted by law, contribute to the payment of Indemnitee's costs, charges and expenses (including, without limitation, attorneys' fees), judgments, fines and amounts paid or to be paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, in an amount that is just and equitable in light of all the circumstances in order to reflect (1) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such action, suit or proceeding; and (2) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s); provided, that, without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to any limitation on indemnification set forth in Section 5(c), 7 or 8 hereof. The relative fault of the Company and of Indemnitee shall be determined by reference to, among other things, the parties' relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such action, suit or proceeding. The Company agrees that it would not be just and equitable if contribution pursuant to this Section 10 were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

11.<u>Form and Delivery of Communications</u>. Any notice, request or other communication required or permitted to be given to the parties under the Agreement shall be in writing and either delivered in person or sent by overnight mail or courier service, or certified or registered mail, return receipt requested, postage prepaid, addressed to Indemnitee at Indemnitee's most recent address on the Company's records, and to the Company as follows:

Simmons First National Corporation

501 Main Street

Pine Bluff, Arkansas 71601

Attention: General Counsel

or to such other address as the Company or Indemnitee may, from time to time, designate in writing by notice hereunder.

12.<u>Subsequent Legislation.</u> If the Act is amended after the Effective Date to expand further the indemnification permitted to directors or officers, then the Company shall indemnify Indemnitee to the fullest extent permitted by the Act, as so amended.

13.<u>Additional Indemnification Rights; Non-exclusivity.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Articles, the By-Laws or by statute.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The provisions for indemnification and advancement of expenses set forth in the Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Articles, the By-laws, the vote of the Company's shareholders or disinterested directors, insurance policies, other agreements or otherwise; and nothing in this Agreement shall be used to interpret or otherwise affect such other rights. Indemnitee's rights hereunder shall continue after Indemnitee has ceased acting as a director, officer, employee or agent of the Company and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. However, no amendment or alteration after the Effective Date of the Articles or By-laws or any other agreement shall adversely affect the rights provided to Indemnitee under the Agreement.

14.<u>Enforcement</u>. The Company shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of the Agreement are not valid, binding and enforceable. The Company agrees that its execution of the Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by Indemnitee for enforcement of Indemnitee's rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in the Agreement are unique and special, and that failure of the Company to comply with the provisions of the Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to breach of the Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Company of its obligations under the Agreement.

15.<u>Interpretation of Agreement</u>. It is understood that the parties hereto intend the Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

16.<u>Modification and Waiver.</u> No supplement, modification or amendment of the Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of the Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. No waiver of any of the provisions of the Agreement shall be effective unless in a writing signed by the party against whom enforcement of the waiver is sought.

17.<u>Successor and Assigns.</u> All of the terms and provisions of the Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform the Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

18.<u>Service of Process and Venue.</u> For purposes of any claims or proceedings to enforce the Agreement, the Company consents to the jurisdiction and venue of any federal or state court of competent jurisdiction in the State of Arkansas, and waives and agrees not to raise any defense that any such court is an inconvenient forum or any similar claim.

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19.<u>Governing Law.</u> The Agreement shall be governed exclusively by and construed according to the laws of the State of Arkansas, as applied to contracts between Arkansas residents entered into and to be performed entirely within Arkansas. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Arkansas govern indemnification by the Company of its directors and officers, then the indemnification provided under the Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of the Agreement to the contrary.

20.<u>Employment Rights; Board Service</u>. Nothing in the Agreement is intended to create in Indemnitee any right to employment or continued employment. Nothing in the Agreement is intended to create in Indemnitee any right to continued service on the Board.

21.<u>Counterparts</u>. The Agreement shall become legally binding when the last party hereto executes and delivers the Agreement. The Agreement may be executed and delivered in multiple counterparts (including, without limitation, by Docusign/Echosign or a similarly accredited secure signature service or other electronic transmission or signature), each of which when so executed and delivered shall be deemed to be an original, and all of which together shall constitute one and the same instrument. Counterparts may be delivered by facsimile, e-mail (including, without limitation, .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall be valid and effective for all purposes.

22.<u>Headings.</u> The section and subsection headings contained in the Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of the Agreement.

*[Signature Page Follows]* 

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IN WITNESS WHEREOF, the parties hereto have executed and delivered the Agreement to be effective as of the Effective Date.

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| | |
|:---|:---|
| SIMMONS FIRST NATIONAL CORPORATION | SIMMONS FIRST NATIONAL CORPORATION |
| By: | /s/ Jena Compton |
| Name: | Jena Compton |
| Title: | EVP, Chief People Officer |
| INDEMNITEE |  |
|  | /s/ Jonathan Schneider |
|  | Signature |
|  | Jonathan Schneider |
|  | Printed or Typed Name |

---

*[Signature Page to Indemnification Agreement]*

## Exhibit 10.4

Exhibit 10.4

**EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT**

**THIS EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT** ("**Agreement**") is made and entered into as of February 27, 2026 (the "**Effective Date**"), by and among Simmons First National Corporation ("**Company**"), an Arkansas corporation, Simmons Bank ("**Bank**" and together with the Company (as more fully described in Article 12), "**Simmons**"), an Arkansas state bank and Brian Jackson ("**Executive**").

**R E C I T A L S:**

WHEREAS, Simmons acknowledges that the Executive is to significantly contribute to the growth and success of Simmons, and as a publicly held corporation, a Change in Control of the Company may occur with or without the approval of the Board of Directors of the Company ("**Company Board**"), and the Company Board also recognizes that the possibility of such a Change in Control may contribute to uncertainty on the part of senior management resulting in distraction from their operating responsibilities or in the departure of senior management;

WHEREAS, concurrently with executing this Agreement, the Company and the Executive have executed and delivered an indemnification agreement providing the Executive with indemnification with respect to his service to Simmons as a member of senior management.

NOW, THEREFORE, in consideration of the mutual covenants and obligations herein and the compensation Simmons agrees herein to pay the Executive, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Simmons and the Executive agree as follows:

**ARTICLE 1**

**TERM OF AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;Term**. This Agreement shall be effective for thirty-six (36) months from the Effective Date and will automatically be extended for twelve (12) months as of each anniversary date of the Effective Date ("**Agreement Term**") unless the Agreement is terminated by Simmons upon written notification to the Executive, within thirty (30) days before an anniversary date of the Effective Date, that the Agreement will terminate as of last day of the Agreement Term as in effect immediately prior to such anniversary date.

Unless Simmons has effectively terminated this Agreement as prescribed above in this Section 1.1, in the event of a Change in Control, the Agreement Term shall be amended to twenty-four (24) months commencing upon the Control Change Date (as defined in Section 1.3) and shall then expire at the end of such twenty-four (24) month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;Change in Control.** Change in Control shall mean a change in ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the Company, each as defined in Treasury Regulation Section 1.409A-3(i)(5) or any subsequently applicable Treasury Regulation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3&nbsp;&nbsp;&nbsp;&nbsp;Control Change Date.** Control Change Date means the date on which an event described in Section 1.2 occurs. If a Change in Control occurs on account of a series of transactions, the Control Change Date is the date of the last of such transactions.

**ARTICLE 2**

**TERMINATION OF EMPLOYMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;General**. The Executive shall be entitled to receive Termination Compensation, as defined in Section 2.5, according to this Article if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Executive's employment is involuntarily terminated as specified in Section 2.2, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Executive voluntarily terminates employment as specified in Section 2.3;

provided, however, that no Termination Compensation shall be payable to the Executive, and the Executive shall forfeit all rights, under Section 2.5 of this Agreement unless a Release in substantially the form attached as **Exhibit A** (the "**Release**") is signed and becomes irrevocable within the time period specified by the Release for review and revocation. To the extent any Termination Compensation under Section 2.5 has been paid and the Release requirement of this Section 2.1 is not met, then any such Termination Compensation previously paid shall be forfeited and the Executive shall repay such forfeited Termination Compensation to Simmons within thirty (30) days following demand by Simmons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;Termination by Simmons**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Executive shall be entitled to receive Termination Compensation (as described in Section 2.5) if during an Agreement Term, all employment of the Executive is terminated by Simmons without Cause on or after a Control Change Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Executive shall be entitled to receive Termination Compensation (as described in Section 2.5) if during an Agreement Term, all employment of the Executive is terminated by Simmons without Cause within the 180 days immediately preceding a Control Change Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Cause means, for purposes of this Agreement, (i) willful and continued failure by the Executive to perform his duties as established by Simmons; (ii) a material breach by the Executive of his fiduciary duties of loyalty or care to Simmons; (iii) conviction of a felony; or (iv) willful, flagrant, deliberate and repeated infractions of material published policies and procedures of Simmons of which the Executive has actual knowledge ("**Cause Exception**"). If Simmons desires to discharge the Executive under the Cause Exception, it shall give notice to the Executive as provided in Section 2.7 and the Executive shall have thirty (30) days after notice has been given to him in which to cure the reason for Simmons' exercise of the Cause Exception. If the reason for Simmons' exercise of the Cause Exception is timely cured by the Executive (as determined by a committee appointed by the Board of Directors of Simmons), Simmons' notice shall become null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;Voluntary Termination.** The Executive shall be entitled to receive Termination Compensation (as defined in Section 2.5) if a Change in Control occurs during an Agreement Term, and the Executive voluntarily terminates employment after a Control Change Date during an Agreement Term and within six (6) months following the occurrence of a Trigger Event.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4&nbsp;&nbsp;&nbsp;&nbsp;Trigger Event**. A Trigger Event means, for purposes of this Agreement, the occurrence of any one of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the failure by the Company or the Bank to reelect or appoint the Executive to a position with duties, functions and responsibilities substantially equivalent to the position held by the Executive on the Control Change Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;a material modification by the Company or the Bank of the title, duties, functions or responsibilities of the Executive without his written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the failure of the Company or the Bank to permit the Executive to exercise such responsibilities as are consistent with the Executive's position and of such a nature as are usually associated with such office of a corporation engaged in substantially the same business as Simmons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Company or the Bank requires the Executive to relocate his employment more than fifty (50) miles from his place of employment, without the written consent of the Executive, excluding reasonably required business travel or temporary assignments for a reasonable period of time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any decrease, without the Executive's written consent, in the Executive's (i) annual base salary, (ii) target or maximum annual cash incentive award opportunity or (iii) target annual equity incentive award opportunity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the Company or the Bank shall fail to make a payment when due to the Executive; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;a breach by Simmons of the obligations set forth in Article 15 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5&nbsp;&nbsp;&nbsp;&nbsp;Termination Compensation**. Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30<sup>th</sup>) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7<sup>th</sup>) month following the Executive's employment termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.6&nbsp;&nbsp;&nbsp;&nbsp;Base Period Income**. The Executive's Base Period Income equals the sum of (a) his annual base salary as of the Executive's termination date, and (b) the greater of: (i) the average of any annual cash incentive award paid or payable to the Executive for the Company's last two completed fiscal years prior to the Executive's employment termination or (ii) the Executive's target annual cash incentive award opportunity for the year in which the Executive's employment termination occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.7&nbsp;&nbsp;&nbsp;&nbsp;Notice of Termination**. Any termination by Simmons under the Cause Exception or by the Executive after a Trigger Event shall be communicated by Notice of Termination to the other party hereto. A "**Notice of Termination**" shall be a written notice which (a) indicates the specific termination provision in this Agreement relied upon, (b) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (c) if the termination date is other than the date of receipt of such notice, specifies the effective date of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.8**&nbsp;&nbsp;&nbsp;&nbsp;**Specified Employee.** Specified Employee is a "specified employee" (within the meaning of Section 409A (as defined below)) of Simmons (or any related "service recipient" within the meaning of Section 409A).

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**ARTICLE 3**

**ATTORNEYS' FEES**

In the event that the Executive incurs any attorneys' fees in protecting or enforcing his rights under this Agreement and the Executive prevails on at least one material point in such dispute or claim, Simmons shall reimburse the Executive for such reasonable attorneys' fees and for any other reasonable expenses related thereto. Such reimbursement shall be made within thirty (30) days following the Executive's written request (which must include a detailed description of such fees and expenses) which must be submitted within thirty (30) days following final resolution of the dispute or claim giving rise to such fees and expenses.

**ARTICLE 4**

**LIFE INSURANCE POLICIES** 

In connection with the Executive's termination of employment, the life insurance and accidental death and dismemberment coverage provided by Simmons for the Executive and his or her eligible dependents will terminate as of the date specified in the applicable policy or contract unless the Executive elects to convert such coverage to an individual policy in accordance with the terms of such policy or contract; provided, however, that the Executive will be responsible for payment of any premiums on any such continued coverage elected. Upon the Executive's termination of employment, Simmons shall not be obligated to continue the Executive's participation in the Simmons First Endorsement Split-Dollar Life Insurance Program or provide any alternative benefits to such program after termination of the Executive's employment, except as specifically provided pursuant to the terms of the program documents governing such program.

**ARTICLE 5**

**MITIGATION OF PAYMENT**

Simmons and the Executive agree that, following the termination of employment by the Executive with Simmons, the Executive has no obligation to take any steps whatsoever to secure other employment and such failure by the Executive to search for or to find other employment upon termination from Simmons shall in no way impact the Executive's right to receive payment under any of the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;

**ARTICLE 6**

**DECISIONS BY SIMMONS; FACILITY OF PAYMENT**

Any powers granted to the Board of Directors of Simmons hereunder may be exercised by a committee, appointed by the Board of Directors of Simmons, and such committee, if appointed, shall have general responsibility for the administration and interpretation of this Agreement. If the Board of Directors of Simmons or the committee shall find that any person to whom any amount is or was payable hereunder is unable to care for his affairs because of illness or accident, or has died, then the Board of Directors of Simmons or the committee, if it so elects, may direct that any payment due him or his estate (unless a prior claim therefore has been made by a duly appointed legal representative) or any part thereof be paid or applied for the benefit of such person or to or for the benefit of his spouse, children or other dependents, an institution maintaining or having custody of such person, any other person deemed by the Board of Directors of Simmons or committee to be a proper recipient on behalf of such person otherwise entitled to payment, or any of them, in such manner and proportion as the Board of Directors of Simmons or committee may deem proper. Any such payment shall be in complete discharge of the liability of Simmons therefor.

&nbsp;&nbsp;&nbsp;&nbsp;

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**ARTICLE 7**

**SOURCE OF PAYMENTS; NO TRUST**

The obligations of Simmons to make payments hereunder shall constitute an unsecured liability of Simmons to the Executive. Such payments shall be made from the general funds of Simmons, and Simmons shall not be required to establish or maintain any special or separate fund, or otherwise to segregate assets to assure that such payments shall be made, and neither the Executive nor his designated beneficiary shall have any interest in any particular asset of Simmons by reason of its obligations hereunder. Nothing contained in this Agreement shall create or be construed as creating a trust of any kind or any other fiduciary relationship between Simmons and the Executive or any other person. To the extent that any person acquires a right to receive payments from Simmons hereunder, such right shall be no greater than the right of an unsecured creditor of Simmons.

**ARTICLE 8**

**REDUCTION IN BENEFITS, EXCISE TAX**

In the event that the severance and other benefits provided for in this Agreement or otherwise payable to the Executive (a) constitute "parachute payments" within the meaning of Section 280G of the Code and (b) but for this Article 8, would be subject to the excise tax imposed by Section 4999 of the Code, then the Executive's payments and benefits will be either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; delivered in full, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; delivered as to such lesser extent which would result in no portion of such severance benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by the Executive on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code.

If a reduction in severance and other payments and benefits constituting "parachute payments" is necessary so that benefits are delivered to a lesser extent, reduction will occur in the following order: (I) reduction of cash payments; (II) cancellation of awards granted "contingent on a change in ownership or control" (within the meaning of Code Section 280G), (III) cancellation of accelerated vesting of equity awards, and (IV) reduction of employee benefits. In the event that acceleration of vesting of equity award compensation is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant of the Executive's equity awards.

Any determination required under this Article 8 will be made in writing by Simmons' independent tax accountants engaged by Simmons for general tax purposes immediately prior to the Change in Control ("**Accountants**"), whose good faith determination will be conclusive and binding upon the Executive and Simmons for all purposes. If the tax accounting firm so engaged by Simmons is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, or if such firm otherwise cannot perform the calculations, Simmons shall appoint a nationally recognized independent registered public accounting firm to make the determinations required hereunder. For purposes of making the calculations, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. Simmons and the Executive will furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. Simmons will bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Article 8.

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**ARTICLE 9**

**SEVERABILITY**

All agreements and covenants contained herein are severable, and in the event any of them shall be held to be invalid by any competent court, this Agreement shall be interpreted as if such invalid agreements or covenants were not contained herein.

**ARTICLE 10**

**ASSIGNMENT PROHIBITED**

This Agreement is personal to each of the parties hereto, and no party may assign or delegate any of his or its rights or obligations hereunder except as specified in Article 15. Any attempt to assign any rights or delegate any obligations under this Agreement shall be void.

**ARTICLE 11**

**NO ATTACHMENT**

Except as otherwise provided in this Agreement or required by applicable law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation or to execution, attachment, levy, or similar process or assignment by operation of law and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.

**ARTICLE 12**

**HEADINGS AND INTERPRETATION**

The headings of articles, paragraphs and sections herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. References herein to "Simmons" shall refer to both the Company and the Bank or the Company or the Bank, as the context requires, and the Company and the Bank shall have the option to perform the obligations provided herein, in their sole discretion, through either entity; provided, however, that for purposes of such obligations and the rights of Simmons under this Agreement, the Company and Bank shall be treated as one and the same; provided, further, that this statement shall not be deemed ineffective or construed to have any effect other than the effect expressly stated herein by reference in this Agreement to both the Company and the Bank, such references included solely to emphasize in certain places the intent of this statement and the Agreement as a whole. The Executive may enforce his rights against either the Company, the Bank, or both the Company and the Bank.

**ARTICLE 13**

**GOVERNING LAW**

The parties intend that this Agreement and the performance hereunder and all suits and special proceedings hereunder shall be construed in accordance with and under and pursuant to the laws of the State of Arkansas, and that in any action, special proceeding or other proceeding that may be brought arising out of, in connection with, or by reason of this Agreement, the laws of the State of Arkansas, shall be applicable and shall govern to the exclusion of the law of any other forum, without regard to the jurisdiction in which any action or special proceeding may be instituted.

&nbsp;&nbsp;&nbsp;&nbsp;

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**ARTICLE 14**

**BINDING EFFECT**

This Agreement shall be binding upon, and inure to the benefit of, the Executive and his heirs, executors, administrators and legal representatives and Simmons and its permitted successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;

**ARTICLE 15**

**MERGER OR CONSOLIDATION**

Simmons shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company or the Bank ("**Successor Corporation**") to assume expressly and agree to perform this Agreement in the same manner and to the same extent that Simmons would be required to perform it if no such succession had taken place. Upon such assumption, the Executive and the Successor Corporation shall become obligated to perform the terms and conditions of this Agreement.

**ARTICLE 16**

**ENTIRE AGREEMENT**

This Agreement expresses the whole and entire agreement between the parties with reference to the Executive's change in control-related severance and, as of the Effective Date, supersedes and replaces any prior employment agreement, understanding or arrangement (whether written or oral) between Simmons and the Executive on this subject; provided, however, that, for the avoidance of doubt, nothing herein shall affect the rights of the Executive and the Company under (a) the Indemnification Agreement dated as of October 21, 2025 between the Company and the Executive, (b) any Associate Agreement and (c) the terms and conditions associated with any grant of restricted stock units or other equity award. Each of the parties hereto has relied on his or its own judgment in entering into this Agreement.

**ARTICLE 17**

**NOTICES**

All notices, requests and other communications to any party under this Agreement shall be in writing and shall be given to such party at its address set forth below or such other address as such party may hereafter specify for the purpose by notice to the other party:

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| | | |
|:---|:---|:---|
| (a) | If to the Executive: | Brian Jackson |
| | | 1600 Grove Pl |
| | | Homewood, AL 35209 |
| (b) | If to the Company or the Bank: | If to the Company or the Bank: |
| | | Simmons First National Corporation / Simmons Bank |
| | | Attention: Chairman |
| | | P.O. Box 7009 |
| | | Pine Bluff, Arkansas 71611 |

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Each such notice, request or other communication shall be effective (i) if given by mail, 72 hours after such communication is deposited in the mail with first class postage prepaid, addressed as aforesaid or (ii) if given by any other means, when delivered at the address specified in this Article 17.

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**ARTICLE 18**

**MODIFICATION OF AGREEMENT**

No waiver or modification of this Agreement or of any covenant, condition, or limitation herein contained shall be valid unless in writing and duly executed by the party to be charged therewith. No evidence of any waiver of modification shall be offered or received in evidence at any proceeding, arbitration, or litigation between the parties hereto arising out of or affecting this Agreement, or the rights or obligations of the parties hereunder, unless such waiver or modification is in writing, duly executed as aforesaid. The parties further agree that the provisions of this Article 18 may not be waived except as herein set forth.

**ARTICLE 19**

**TAXES**

To the extent required by applicable law, Simmons shall deduct and withhold all necessary Social Security taxes and all necessary federal and state withholding taxes and any other similar sums required by laws to be withheld from any payments made pursuant to the terms of this Agreement. This term shall be construed in conjunction with Article 8 and shall not supersede or modify it in any way.

**ARTICLE 20**

**409A COMPLIANCE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The intent of the parties is that payment and benefits under this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable Treasury regulations and administrative guidance issued thereunder (collectively, "**Section 409A**") or comply with an exemption from the application of Section 409A and, accordingly, all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Neither the Executive, the Company, nor the Bank shall take any action to accelerate or delay the payment of any monies and/or provision of any benefits in any matter which would not be in compliance with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the form or timing of payment of any amounts or benefits upon or following a termination of employment unless such termination is also a "separation from service" (within the meaning of Section 409A) and, for purposes of any such provision of this Agreement under which (and to the extent) deferred compensation subject to Section 409A is paid, references to a "termination" or "termination of employment" or like references shall mean separation from service. A "separation from service" shall not occur under Section 409A unless such Executive has completely severed the Executive's relationship with the Company and Bank or the Executive has permanently decreased Executive's services to twenty percent (20%) or less of the average level of bona fide services over the immediately preceding thirty-six (36) month period (or the full period if the Executive has been providing services for less than thirty-six (36) months). A leave of absence shall only trigger a termination of employment that constitutes a separation from service at the time required under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Notwithstanding any other provision of this Agreement, the Executive shall be solely liable, and neither the Company nor the Bank shall be liable in any way to the Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to Section 409A otherwise fails to comply with, or be exempt from, the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;

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**ARTICLE 21**

**RECITALS**

The Recitals to this Agreement are incorporated herein and shall constitute an integral part of this Agreement.

**ARTICLE 22**

**COUNTERPARTS**

This Agreement shall become legally binding when the last party hereto executes and delivers this Agreement. This Agreement may be executed and delivered in multiple counterparts (including by Docusign/Echosign or a similarly accredited secure signature service or other electronic transmission or signature), each of which when so executed and delivered shall be deemed to be an original, and all of which together shall constitute one and the same instrument. Counterparts may be delivered by facsimile, e-mail (including .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall be valid and effective for all purposes.

*[Remainder of page intentionally blank. Signatures on next page]*

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

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| | |
|:---|:---|
| **EXECUTIVE:** | /s/ Brian Jackson |
|  | Brian Jackson |
| **COMPANY:** | **SIMMONS FIRST NATIONAL CORPORATION** |
| By: | /s/ Jena Compton |
| Title: | EVP Chief People Officer |
| **BANK:** | **SIMMONS BANK** |
| By: | /s/ Jena Compton |
| Title: | EVP Chief People Officer |

---

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Exhibit A

RELEASE

In consideration of the benefits promised in the Executive Change in Control Severance Agreement to which this Release is attached as **Exhibit A** (and further defined below), Brian Jackson (the "**Executive**"), hereby irrevocably and unconditionally releases, acquits, and forever discharges Simmons First National Corporation (the "**Company**") and Simmons Bank (the "**Bank**"), and each of their agents, directors, members, shareholders, affiliated entities, officers, employees, former employees, attorneys, and all persons acting by, through, under or in concert with any of them (collectively "**Releasees**") from any and all charges, complaints, claims, liabilities, grievances, obligations, promises, agreements, controversies, damages, policies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited to, any rights arising out of alleged violations or breaches of any contracts, express or implied, or any tort, or any legal restrictions on Releasees' right to terminate employees, or any federal, state or other governmental statute, regulation, law or ordinance, including without limitation, (1) Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, (2) the Americans with Disabilities Act, (3) 42 U.S.C. § 1981, (4) the federal Age Discrimination in Employment Act (age discrimination), (5) the Older Workers Benefit Protection Act, (6) the Equal Pay Act, (7) the Family and Medical Leave Act, (8) the Employee Retirement Income Security Act, and (9) the Arkansas Civil Rights Act ("**Claim**" or "**Claims**"), which the Executive now has, owns or holds, or claims to have, own or hold, or which the Executive at any time heretofore had owned or held, or claimed to have owned or held, against each or any of the Releasees at any time up to and including the date of the execution of this Release.

Nothing in this Release shall restrict or prohibit the Executive or the Executive's counsel from filing a charge or complaint with, initiating communications directly with, responding to any inquiry from, volunteering information to, or providing testimony before a self-regulatory authority or a governmental, law enforcement or other regulatory authority, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Congress, and any Office of Inspector General (collectively, the "**Regulators**"), from participating in any reporting of, investigation into, or proceeding regarding suspected violations of law, or from making other disclosures that are protected under or from receiving an award for information provided under the whistleblower award programs administered by a state or federal agency. The Executive does not need the prior authorization of the Company or the Bank to engage in such communications with the Regulators, respond to such inquiries from the Regulators, provide confidential information or documents containing confidential information to the Regulators, or make any such reports or disclosures to the Regulators. The Executive is not required to notify the Company or the Bank that the Executive has engaged in such communications with the Regulators. The Executive recognizes and agrees that, in connection with any such activity outlined above, the Executive must inform the Regulators that the information the Executive is providing is confidential. To the extent, that any such charge or complaint is made against the Releasees, the Executive expressly waives any claim or right to any form of monetary relief or other damages, or any form of individual recovery or relief in connection with any such charge or complaint, except that the Executive does not waive his right with respect to any government-issued award for information provided under the whistleblower award programs administered by a state or federal agency.

In addition, pursuant to the Defend Trade Secrets Act of 2016, the Executive is notified that an individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official (directly or indirectly) or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if (and only if) such filing is made under seal. In addition, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the individual's attorney and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order.

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The Executive hereby acknowledges and agrees that the execution of this Release and the cessation of the Executive's employment and all actions taken in connection therewith are in compliance with the federal Age Discrimination in Employment Act and the Older Workers Benefit Protection Act and that the releases set forth above shall be applicable, without limitation, to any claims brought under these Acts. The Executive further acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Release given by the Executive is given solely in exchange for the benefits set forth in the Executive Change in Control Severance Agreement dated as of October 21, 2025 between the Company, the Bank and the Executive to which this Release was initially attached and such consideration is in addition to anything of value which the Executive was entitled to receive prior to entering into this Release;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.By entering into this Release, the Executive does not waive any rights the Executive may have to indemnification, including without limitation indemnification for attorneys' fees, costs and/or expenses, pursuant to applicable statute, the articles of incorporation and by-laws of the Company or the Bank or pursuant to the Indemnification Agreement dated as of October 21, 2025 between the Company and the Executive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.By entering into this Release, the Executive does not waive rights or claims that may arise after the date this Release is executed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.By entering into this Release, and subject to the limitations above, the Executive agrees not to knowingly make any statement or engage in any conduct which may reasonably be expected to have the effort of disparaging the Company or the Bank to any: (i) media; (ii) potential, current or former employees; or (iii) third parties. The Executive acknowledges that the Company and the Bank will be irreparably harmed by a breach of this provision and that there may be no adequate remedy at law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.The Executive has been advised to consult an attorney prior to entering into this Release, and this provision of the Release satisfies the requirements of the Older Workers Benefit Protection Act that the Executive be so advised in writing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.The Executive has been offered twenty-one (21) days [or 45 days if applicable] from receipt of this Release within which to consider whether to sign this Release; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.For a period of seven (7) days following the Executive's execution of this Release, the Executive may revoke this Release by delivering the revocation to the Chief People Officer of the Company, and it shall not become effective or enforceable until such seven (7) day period has expired.

This Release shall be binding upon the heirs and personal representatives of the Executive and shall inure to the benefit of the successors and assigns of the Company and the Bank.

Date: <br> Brian Jackson

## Exhibit 10.5

Exhibit 10.5

**INDEMNIFICATION AGREEMENT**

This INDEMNIFICATION AGREEMENT ("Agreement"), dated as of February 27, 2026 (the "Effective Date"), is made by and between Simmons First National Corporation, an Arkansas corporation ("Company"), and the undersigned indemnitee ("Indemnitee").

RECITALS

A.The Company recognizes that competent and experienced persons are increasingly reluctant to serve or to continue to serve as directors or officers of corporations unless they are protected by comprehensive liability insurance or indemnification, or both, due to increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure frequently bears no reasonable relationship to the compensation of such directors and officers;

B.The statutes and judicial decisions regarding the duties of directors and officers are often difficult to apply, ambiguous, or conflicting, and therefore fail to provide such directors and officers with adequate, reliable knowledge of legal risks to which they are exposed or information regarding the proper course of action to take;

C.The Company believes that it is unfair for its directors and officers to assume the risk of large judgments and other expenses which may occur in cases in which the director or officer received no personal profit and in cases where the director or officer was not culpable;

D.The Company, after reasonable investigation, has determined that the liability insurance coverage presently available to the Company may be inadequate in certain circumstances to cover all possible exposure for which Indemnitee should be protected. The Company believes that the interests of the Company and its shareholders would best be served by a combination of such insurance and the indemnification by the Company of the directors and officers of the Company;

E.The indemnification provisions applicable to directors and officers contained in the Company's Amended and Restated Articles of Incorporation ("Articles") and the Company's By-laws ("By-laws") expressly provide that such right of indemnification is not exclusive, and contemplate that agreements may be entered into between the Company and its directors and officers with respect to indemnification;

F.Section 850 of the Arkansas Business Corporation Act of 1987 ("Act") (Arkansas Code Section 4-27-850) ("Section 850") empowers the Company to indemnify its officers, directors, employees and agents by agreement and to indemnify persons who serve, at the request of the Company, as the directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification provided by Section 850 is not exclusive;

G.The Board of Directors of the Company ("Board") has determined that contractual indemnification as set forth herein is not only reasonable and prudent but also promotes the best interests of the Company and its shareholders;

H.The Company desires and has requested Indemnitee to serve or continue to serve as a director and/or officer of the Company, or an affiliate or subsidiary thereof, free from undue concern for unwarranted claims for damages arising out of or related to such services to the Company, or an affiliate or subsidiary thereof; and

I.Indemnitee is willing to serve, continue to serve or to provide additional service for or on behalf of the Company, or an affiliate or subsidiary thereof, on the condition that Indemnitee is furnished the indemnity provided for herein.

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AGREEMENT

NOW, THEREFORE, in consideration of Indemnitee's service or continued service as a director, officer, and/or other key employee of the Company or an affiliate or subsidiary thereof, the mutual covenants and agreements set forth below, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

1.<u>Generally</u>. To the fullest extent permitted by the laws of the State of Arkansas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Company shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to, or is involved in, any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent (which, for purposes of this Agreement, shall include, without limitation, a trustee, partner or manager or similar capacity) of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise). For the avoidance of doubt, the foregoing indemnification obligation includes, without limitation, claims for monetary damages against Indemnitee in respect of an alleged breach of fiduciary duties, to the fullest extent permitted under Section 202(b)(3) of the Act as in existence on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The indemnification provided by this Section 1 shall be from and against all expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf in connection with such action, suit or proceeding, but shall only be provided if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action, suit or proceeding, had no reasonable cause to believe Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee's conduct was unlawful.

2.<u>Partial Indemnification</u>. If Indemnitee is entitled under any provision of the Agreement to indemnification by the Company for some or a portion of the expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf in connection with any action, suit or proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, liabilities and losses (including, without limitation, attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) to which Indemnitee is entitled.

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3.<u>Advance Payment of Expenses; Notification and Defense of Claim.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Expenses incurred by Indemnitee or on Indemnitee's behalf in defending any action, suit or proceeding by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) or in connection with an enforcement action pursuant to Section 4(b) shall be paid by the Company in advance of the final disposition of such action, suit or proceeding within ten (10) days after receipt by the Company of (i) a statement or statements from Indemnitee requesting such advance or advances from time to time, and (ii) an undertaking by or on behalf of Indemnitee to repay such amount if it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company as authorized by the Act, the Agreement or otherwise. Such undertaking shall be accepted without reference to the financial ability of Indemnitee to make such repayment. Advances shall be unsecured and interest-free. For the avoidance of doubt, advances shall include, without limitation, any and all expenses incurred pursuing an action to enforce this right of advancement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim thereof is to be made against the Company hereunder, notify the Company of the commencement thereof. The failure to promptly notify the Company of the commencement of the action, suit or proceeding, or of Indemnitee's request for indemnification, will not relieve the Company from any liability that it may have to Indemnitee hereunder or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.In the event the Company shall be obligated to pay the expenses of Indemnitee with respect to an action, suit or proceeding as provided in the Agreement, the Company, if appropriate, shall be entitled to assume the defense of such action, suit or proceeding with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under the Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding, provided that (1) Indemnitee shall have the right to employ Indemnitee's own counsel in such action, suit or proceeding at Indemnitee's expense and (2) if (i) the employment of counsel by Indemnitee has been previously authorized in writing by the Company, (ii) counsel to the Company or Indemnitee shall have reasonably concluded that there may be a conflict of interest or position, or reasonably believes that a conflict is likely to arise, on any significant issue between the Company and Indemnitee in the conduct of any such defense or (iii) the Company shall not, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the fees and expenses of Indemnitee's counsel shall be at the expense of the Company, except as otherwise expressly provided by the Agreement. The Company shall not be entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company or as to which counsel for the Company or Indemnitee shall have reasonably made the conclusion provided for in clause (ii) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Notwithstanding any other provision of the Agreement to the contrary, to the extent that Indemnitee is, by reason of Indemnitee's corporate status with respect to the Company or any corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise which Indemnitee is or was serving or has agreed to serve at the request of the Company, a witness or otherwise participates in any action, suit or proceeding at a time when Indemnitee is not a party in the action, suit or proceeding, the Company shall indemnify Indemnitee against all expenses (including, without limitation, attorneys' fees) actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection therewith.

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4.<u>Procedure for Indemnification.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.To obtain indemnification, Indemnitee shall promptly submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The Company shall determine whether to grant Indemnitee's indemnification request promptly, and in any event within sixty (60) days following receipt of a request for indemnification pursuant to Section 4(a), and in accordance with applicable law. The right to indemnification as granted by the Agreement shall be enforceable by Indemnitee in any court of competent jurisdiction if the Company denies such request, in whole or in part, or fails to respond within such 60-day period. Any such action shall be conducted as a de novo trial, on the merits. It shall be a defense to any such action (other than an action brought to enforce a claim for the advancement of expenses under Section 3 hereof where the required undertaking, if any, has been received by the Company) that Indemnitee has not met the standard of conduct set forth in Section 1 hereof, but the burden of proving such defense by clear and convincing evidence shall be on the Company. Neither the failure of the Company (including its Board, its independent legal counsel, and its shareholders) to have made a determination prior to the commencement of such action that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Section 1 hereof, nor the fact that there has been an actual determination by the Company (including its Board, its independent legal counsel, or its shareholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has or has not met the applicable standard of conduct or otherwise prejudice Indemnitee. The Company shall also indemnify the Indemnitee from and against the Indemnitee's expenses (including, without limitation, attorneys' fees) incurred in connection with (1) successfully establishing Indemnitee's right to indemnification, in whole or in part, in any such proceeding or otherwise, and (2) successfully establishing Indemnitee's right to advancement of expenses, in whole or in part, in any proceeding or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The Indemnitee shall be presumed to be entitled to indemnification under the Agreement upon submission of a request for indemnification pursuant to this Section 4, and the Company shall have the burden of proof in overcoming that presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for a determination of entitlement to indemnification unless the Company overcomes such presumption by clear and convincing evidence. If a determination that Indemnitee is entitled to indemnification has been made pursuant this Section 4 or otherwise pursuant to the terms of this Agreement, the Company shall be bound by such determination in the absence of (i) misrepresentation of a material fact by Indemnitee or (ii) a specific finding (which has become final) by an appropriate court that all or any part of such indemnification is expressly prohibited by law.

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5.<u>Insurance and Subrogation.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The Company may purchase and maintain insurance on behalf of Indemnitee who is or was a director or officer of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) against any liability asserted against Indemnitee and incurred by Indemnitee or on Indemnitee's behalf in any such capacity or arising out of such status, whether or not the Company would have the power to indemnify Indemnitee against such liability. To the extent that the Company maintains liability insurance for directors and officers of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise on which any such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for such director or officer under such policy or policies. If the Company has such insurance in effect at the time the Company receives from Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such action, suit or proceeding in accordance with the terms of such policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.In the event of any payment by the Company under the Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such subrogation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The Company shall not be liable under the Agreement to make any payment of amounts otherwise indemnifiable hereunder (including, without limitation, ERISA excise taxes or penalties, judgments, fines and amounts paid or to be paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

6.<u>Certain Definitions</u>. For purposes of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.The term "action, suit or proceeding" shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action, suit or proceeding, whether civil, criminal, administrative or investigative, and whether instituted by, in the right of, or on behalf of the Company or any other party or parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The term "by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise)" shall be broadly construed and shall include, without limitation, any actual or alleged act or omission to act by Indemnitee in such capacity.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.The term "expenses" shall be broadly and reasonably construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys' fees and related disbursements, appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party, provided that the rate of compensation and estimated time involved is approved by the Board, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with the investigation, preparation, prosecution, defense, settlement, arbitration or appeal of (or the giving of testimony in) an action, suit or proceeding or establishing or enforcing a right to indemnification or advancement under the Agreement, Section 850 or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.The term "judgments, fines and amounts paid or to be paid in settlement" shall be broadly construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever (including, without limitation, all penalties and amounts required to be forfeited or reimbursed to the Company), as well as any penalties or excise taxes assessed on a person with respect to an employee benefit plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.The term "Company" shall include, without limitation and in addition to the resulting corporation, any constituent corporation (including, without limitation, any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors or officers, so that any person who is or was a director or officer of such constituent corporation (or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise) shall stand in the same position under the provisions of the Agreement with respect to the resulting or surviving corporation as he or she would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.The term "other enterprise" shall include, without limitation, employee benefit plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.The term "fines" shall include, without limitation, any excise taxes assessed on a person with respect to an employee benefit plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h.The term "serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan, limited liability company or other enterprise", as well as variations thereof, shall include (without limitation) in each case service to or actions taken while a director, officer, trustee, employee or agent of any subsidiary or affiliate of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.The term "serving at the request of the Company" shall also include, without limitation, any service as a director, officer, employee or agent of the Company or an affiliate or subsidiary thereof which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j.With respect to matters involving employee benefit plans, a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to in the Agreement.

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7.<u>Limitations on Indemnification</u>. Notwithstanding any other provision herein to the contrary, the Company shall not be obligated pursuant to the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) initiated by Indemnitee, except with respect to an action, suit or proceeding brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement, any other agreement, any insurance policy, the Articles, the By-laws, any law or otherwise, unless such action, suit or proceeding (or part thereof) was authorized or consented to by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Improper Benefits. To indemnify or advance expenses to Indemnitee with respect to an action, suit or proceeding (or part thereof) based upon or attributable to the Indemnitee gaining in fact any remuneration, personal profit or advantage to which Indemnitee was not legally entitled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Section 16 Violations. To indemnify Indemnitee on account of any action, suit or proceeding with respect to which final judgment is rendered against Indemnitee for payment or an accounting of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Reimbursement of the Company. To indemnify Indemnitee for any reimbursement of the Company by Indemnitee of any bonus, other incentive-based or equity-based compensation, or of any profits realized by Indemnitee from the sale of securities of the Company, in each case as may be required pursuant to any applicable federal or other law or regulation (including, without limitation, any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act of 2002), any applicable listing standard of a national securities exchange or system on which the common stock of the Company is then listed or reported or pursuant to any incentive compensation recovery or clawback policy as may be adopted from time to time by the Board or one of its committees, or any expenses incurred by Indemnitee in connection with any action, suit or proceeding to enforce such reimbursement obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Non-compete, Non-solicitation, Non-disclosure, Non-disparagement. To indemnify Indemnitee in connection with any action, suit or proceeding involving the enforcement of non-compete, non-solicitation, non-disclosure and/or non-disparagement agreements, or the non-compete, non-solicitation, non-disclosure and/or non-disparagement provisions of employment, consulting, severance or similar agreements, to which the Indemnitee may be a party with the Company, or any subsidiary of the Company or any other applicable foreign or domestic corporation, partnership, joint venture, trust or other enterprise, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.Payments Prohibited by Law. To indemnify or advance expenses to Indemnitee where such indemnification or advancement of expenses related thereto are prohibited by any applicable law or regulation promulgated by any federal or state legislation or banking regulatory agency.

8.<u>Certain Settlement Provisions</u>. The Company shall have no obligation to indemnify Indemnitee under the Agreement for amounts paid in settlement of any action, suit or proceeding without the Company's prior written consent, which shall not be unreasonably withheld. The Company shall not settle any action, suit or proceeding in any manner that would impose any fine, judgment, penalty, liability, loss, expense, limitation or other obligation on Indemnitee without Indemnitee's prior written consent; provided, however, that, with respect to settlements requiring solely the payment of money either by the Company or by Indemnitee for which the Company is obligated to reimburse Indemnitee promptly and completely, in either case without recourse to Indemnitee, no such consent of Indemnitee shall be required.

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9.<u>Severability</u>. If any provision or provisions of the Agreement shall be held to be invalid, illegal, void, or unenforceable on any ground by any court of competent jurisdiction, then (1) this Agreement shall be deemed automatically modified to the extent necessary to (a) make such provision or provisions valid, legal, and enforceable and (b) as closely as possible maintain and accomplish the original intent of the provision or provisions in question, and (2) the remaining provisions of this Agreement shall not be affected and shall remain in full force and effect.

10.<u>Contribution.</u> In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest extent permitted by law, contribute to the payment of Indemnitee's costs, charges and expenses (including, without limitation, attorneys' fees), judgments, fines and amounts paid or to be paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, in an amount that is just and equitable in light of all the circumstances in order to reflect (1) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving rise to such action, suit or proceeding; and (2) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s); provided, that, without limiting the generality of the foregoing, such contribution shall not be required where such holding by the court is due to any limitation on indemnification set forth in Section 5(c), 7 or 8 hereof. The relative fault of the Company and of Indemnitee shall be determined by reference to, among other things, the parties' relative intent, knowledge, access to information and opportunity to correct or prevent the circumstances resulting in such action, suit or proceeding. The Company agrees that it would not be just and equitable if contribution pursuant to this Section 10 were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations.

11.<u>Form and Delivery of Communications</u>. Any notice, request or other communication required or permitted to be given to the parties under the Agreement shall be in writing and either delivered in person or sent by overnight mail or courier service, or certified or registered mail, return receipt requested, postage prepaid, addressed to Indemnitee at Indemnitee's most recent address on the Company's records, and to the Company as follows:

Simmons First National Corporation

501 Main Street

Pine Bluff, Arkansas 71601

Attention: General Counsel

or to such other address as the Company or Indemnitee may, from time to time, designate in writing by notice hereunder.

12.<u>Subsequent Legislation</u>. If the Act is amended after the Effective Date to expand further the indemnification permitted to directors or officers, then the Company shall indemnify Indemnitee to the fullest extent permitted by the Act, as so amended.

13.<u>Additional Indemnification Rights; Non-exclusivity.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Articles, the By-Laws or by statute.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.The provisions for indemnification and advancement of expenses set forth in the Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Articles, the By-laws, the vote of the Company's shareholders or disinterested directors, insurance policies, other agreements or otherwise; and nothing in this Agreement shall be used to interpret or otherwise affect such other rights. Indemnitee's rights hereunder shall continue after Indemnitee has ceased acting as a director, officer, employee or agent of the Company and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. However, no amendment or alteration after the Effective Date of the Articles or By-laws or any other agreement shall adversely affect the rights provided to Indemnitee under the Agreement.

14.<u>Enforcement.</u> The Company shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of the Agreement are not valid, binding and enforceable. The Company agrees that its execution of the Agreement shall constitute a stipulation by which it shall be irrevocably bound in any court of competent jurisdiction in which a proceeding by Indemnitee for enforcement of Indemnitee's rights hereunder shall have been commenced, continued or appealed, that its obligations set forth in the Agreement are unique and special, and that failure of the Company to comply with the provisions of the Agreement will cause irreparable and irremediable injury to Indemnitee, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy Indemnitee may have at law or in equity with respect to breach of the Agreement, Indemnitee shall be entitled to injunctive or mandatory relief directing specific performance by the Company of its obligations under the Agreement.

15.<u>Interpretation of Agreement.</u> It is understood that the parties hereto intend the Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

16.<u>Modification and Waiver.</u> No supplement, modification or amendment of the Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of the Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. No waiver of any of the provisions of the Agreement shall be effective unless in a writing signed by the party against whom enforcement of the waiver is sought.

17.<u>Successor and Assigns</u>. All of the terms and provisions of the Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform the Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

18.<u>Service of Process and Venue</u>. For purposes of any claims or proceedings to enforce the Agreement, the Company consents to the jurisdiction and venue of any federal or state court of competent jurisdiction in the State of Arkansas, and waives and agrees not to raise any defense that any such court is an inconvenient forum or any similar claim.

19.<u>Governing Law.</u> The Agreement shall be governed exclusively by and construed according to the laws of the State of Arkansas, as applied to contracts between Arkansas residents entered into and to be performed entirely within Arkansas. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any state other than Arkansas govern indemnification by the Company of its directors and officers, then the indemnification provided under the Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any provision of the Agreement to the contrary.

20.<u>Employment Rights; Board Service</u>. Nothing in the Agreement is intended to create in Indemnitee any right to employment or continued employment. Nothing in the Agreement is intended to create in Indemnitee any right to continued service on the Board.

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21.<u>Counterparts.</u> The Agreement shall become legally binding when the last party hereto executes and delivers the Agreement. The Agreement may be executed and delivered in multiple counterparts (including, without limitation, by Docusign/Echosign or a similarly accredited secure signature service or other electronic transmission or signature), each of which when so executed and delivered shall be deemed to be an original, and all of which together shall constitute one and the same instrument. Counterparts may be delivered by facsimile, e-mail (including, without limitation, .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and shall be valid and effective for all purposes.

22.<u>Headings.</u> The section and subsection headings contained in the Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of the Agreement.

*[Signature Page Follows]* 

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IN WITNESS WHEREOF, the parties hereto have executed and delivered the Agreement to be effective as of the Effective Date.

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| | |
|:---|:---|
| SIMMONS FIRST NATIONAL CORPORATION | SIMMONS FIRST NATIONAL CORPORATION |
| By: | /s/ Jena Compton |
| Name: | Jena Compton |
| Title: | EVP, Chief People Officer |
| INDEMNITEE |  |
|  | /s/ Brian Jackson |
|  | Signature |
|  | Brian Jackson |
|  | Printed or Typed Name |

---

*[Signature Page to Indemnification Agreement]*

## Exhibit 10.6

Exhibit 10.6

**SIMMONS FIRST NATIONAL CORPORATION**

**2023 STOCK AND INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**ASSOCIATE**

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| | |
|:---|:---|
| **Grant Details** | **Grant Details** |
| Participant Name: | [ ] |
| Award Type: | Restricted Stock Units |
| Award Date: | [ ] |
| Total Number of Restricted Stock Units Awarded: | [ ] |
| Period of Restriction: | Period of Restriction: |
| Vesting Date | Vest Quantity |
| [ ] | [ ] |
| [ ] | [ ] |
| [ ] | [ ] |
| [ ] | [ ] |

---

2026 RSU Award Agreement – Associate

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**SIMMONS FIRST NATIONAL CORPORATION**

**2023 STOCK AND INCENTIVE PLAN**

**RESTRICTED STOCK UNIT AGREEMENT**

**ASSOCIATE**

This Restricted Stock Unit Agreement (this "<u>Agreement</u>"), dated as of the award date indicated (the "<u>Award Date</u>") on the Grant Details page (as defined below), is made between Simmons First National Corporation, an Arkansas corporation (the "<u>Company</u>), and the individual whose name is indicated on the Grant Details page (the "<u>Participant</u>").

**WHEREAS**, the Simmons First National Corporation 2023 Stock and Incentive Plan (the "Plan") permits the grant of Restricted Stock Units in accordance with the terms and provisions of the Plan; and

**WHEREAS**, in consideration of the services to be rendered by the Participant to the Company and/or its Affiliates, the Company desires to grant Restricted Stock Units (the "<u>RSUs</u>") to the Participant, and the Participant desires to accept such RSUs, on the terms and conditions set forth herein and in the Plan.

**NOW, THEREFORE**, in consideration of the foregoing recitals and the mutual promises set forth below, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**<u>Grant of RSUs</u>**. The Company hereby grants to the Participant the number of RSUs set forth on the Grant Details page, subject to the terms and conditions of this Agreement. Upon the completion of the applicable Period of Restriction provided in the Grant Details page (each a "<u>Vesting Date</u>"), each vested RSU shall entitle the Participant to receive one Share. The RSUs are granted pursuant to the Plan and are subject to the provisions of the Plan, which is hereby incorporated herein and made a part hereof, as well as the provisions of this Agreement. The Participant agrees to be bound by all of the terms and conditions of the Plan and this Agreement. To the extent the terms of the Plan and this Agreement are in conflict, the terms of the Plan shall govern. All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided in this Agreement. All references to specified sections pertain to sections of this Agreement unless otherwise specifically provided.

For purposes of this Agreement, "<u>Grant Details page</u>" shall mean the Grant Details page attached to the front of this Agreement that indicates, among other things, the Award Date, the name of the Participant, and the aggregate number of RSUs awarded, all of which information is hereby incorporated herein by reference and made a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.**<u>No Transfer of RSUs</u>**. Before the RSUs become vested, the Participant shall have no rights to or with respect to the RSUs or the Shares underlying such RSUs except as specifically set forth in this Agreement. Such RSUs shall not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, other than as provided under the Plan. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**<u>Risk of Forfeiture</u>.** Subject to Section 4, should the Participant's employment with the Company and its Affiliates terminate, the Participant shall forfeit any RSUs that are unvested as of the effective time of such termination. For purposes of this Agreement, the effective time of a termination of employment (also referred to as the "date" of a termination of employment) will be the first day following the last day of employment.

2026 RSU Award Agreement – Associate

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**<u>Vesting in the RSUs</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Vesting</u>. Subject to earlier vesting or forfeiture as provided herein, and subject to the Participant remaining in continuous employment with the Company and/or its Affiliates (as applicable) through the applicable Vesting Date, the RSUs subject hereto will vest on the applicable Vesting Date, as provided in the Grant Details page. If necessary to avoid the vesting of a fractional RSU, total RSUs that vest on a Vesting Date shall be rounded down to the nearest whole number of RSUs, except for vesting on the final Vesting Date, which vesting shall be for the remainder of the unvested RSUs. The Company shall issue and deliver electronically the Shares underlying the RSUs on the applicable Vesting Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Violation of Restrictive Covenants</u>. All vesting of the RSUs shall cease immediately upon the Participant's breach, in the Committee's determination, of any confidentiality, non-disclosure, non-competition, or non-solicitation obligation, commitment or agreement with the Company or its Affiliates and all unvested RSUs shall be cancelled immediately and shall not be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Involuntary Termination without Cause, Voluntary Termination, or Termination for Cause</u>. If the Participant is involuntarily terminated without Cause (as defined below), quits, is terminated for Cause, or otherwise experiences a termination of employment prior to the applicable Vesting Date, and under circumstances not described in Subsections (d), (e) and (f) below, all unvested RSUs shall be cancelled immediately and shall not be payable, except to the extent the Committee decides otherwise prior to the date of such termination. To the extent the Committee decides to vest any RSUs that would otherwise be cancelled, the Company shall issue and deliver electronically the Shares underlying the RSUs within sixty (60) days after the date of the Participant's employment termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Retirement</u>. If the Participant Retires (as defined below) prior to the applicable Vesting Date, then all unvested RSUs (if any) shall fully vest on the date of the Participant's termination due to Retirement, and the Company shall issue and deliver electronically the Shares underlying the RSUs within sixty (60) days after the date of the Participant's termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Termination by Reason of Death or Disability</u>. Upon the occurrence of the Participant's death or termination of employment due to disability prior to the applicable Vesting Date, then all unvested RSUs (if any) shall fully vest on the date of the Participant's death or date of termination of employment due to disability, and the Company shall issue and deliver electronically the Shares underlying the RSUs within sixty (60) days after the date of the Participant's death or date of termination of employment due to disability. For the avoidance of doubt, the Committee's determination in good faith regarding whether a disability has occurred shall be conclusive and determinative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Change in Control</u>. If a Change in Control occurs prior to the applicable Vesting Date and the Participant is involuntarily terminated without Cause in connection with (or within the one-year period immediately following) the Change in Control, all unvested RSUs (if any) shall fully vest on the date of the Participant's termination of employment. The Company shall issue and deliver electronically the Shares underlying the RSUs within sixty (60) days after the date of the Participant's termination.

2026 RSU Award Agreement – Associate

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)<u>Definitions</u>. For purposes of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Cause" shall have the meaning assigned such term in the employment, severance or similar agreement, if any, between such Participant and the Company or an Affiliate; <u>provided</u>, <u>however</u>, that if there is no such employment, severance or similar agreement in which such term is defined, "Cause" shall mean any of the following acts by the Participant, as determined by the Committee: gross neglect of duty, prolonged absence from duty without the consent of the Company or its Affiliates, material breach by the Participant of any published Company code of conduct or code of ethics; or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined to be detrimental to the Company or its Affiliates. The determination of the Committee as to the existence of "Cause" shall be conclusive on the Participant and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Retire" or "Retirement" means a voluntary termination of employment on or after the earlier of (i) age 65 or (ii) age 60 and 10 years of service. Years of service shall include service with a predecessor employer acquired by the Company or its Affiliates unless otherwise determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**<u>Issuance and Delivery of Shares; Ownership Rights; Dividend Equivalents</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Issuance and Delivery of Shares</u>. With respect to Shares issuable on the applicable dates set forth in Section 4, the Shares will be issued on such dates in the name of and delivered to the Participant via electronic delivery to the Participant's account with the Company's stock plan administrator and will be freely transferable by the Participant. The Committee may change the above procedure for issuance and delivery of Shares at any time, provided that such procedure complies with Section 409A (as defined in Section 12 below) to the extent applicable. Notwithstanding any other provision of this Agreement, the issuance and delivery of the Shares under this Section 5 shall be subject to the requirements of Section 8, including restrictions on transfer as provided therein to the extent applicable. Notwithstanding anything contained herein to the contrary, if Section 409A applies to the RSUs, to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be payable pursuant to this Agreement during the six (6) month period immediately following the Participant's separation from service shall instead be paid on the first business day after the date that is six (6) months following the Participant's separation from service (or, if earlier, the Participant's date of death).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Ownership Rights</u>. The Participant is not entitled to any voting and ownership rights applicable to the Shares underlying the RSUs prior to the issuance of the Shares. Following the issuance and delivery of the Shares, the Participant shall have all voting and ownership rights as provided to other holders of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Limits on Obligations</u>. No interest shall accrue or otherwise be due in the event the Company delays the payment of the RSUs beyond the applicable payment date for administrative reasons or to comply with applicable law. Any delay shall be in accordance with the requirements of Section 12. However, the Company shall not be liable to the Participant or any successor in interest for damages relating to any delays in issuing and delivering the Shares to the Participant or any successor in interest, or any mistakes or errors in the issuance or delivery of the Shares or in payment or delivery of Shares or cash amounts payable under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Dividend Equivalents</u>. The Participant will receive a cash payment (the "<u>dividend equivalents</u>") equal to the value of the cash dividends that would have been paid by the Company to shareholders of record from the Award Date until issuance of the Shares as provided in Section 5(a) (and, for purposes of this sentence, as if the Participant became a shareholder of record on the Award Date) on the number of Shares that vested on the applicable Vesting Date under Section 4(a) or, if earlier, the applicable accelerated date of vesting under Section 4(c) through 4(f). Such dividend equivalents shall be paid at the same time as the Shares underlying the applicable RSUs as provided in Section 4 and shall be subject to the same requirements and provisions under this Agreement as are applicable to the RSUs and the underlying Shares, except that such dividend equivalents shall always be paid in cash. No other dividend equivalents or actual dividends will be paid in connection with the grant of RSUs under this Agreement other than, for the avoidance of doubt, any actual dividends paid on Shares following the issuance of the Shares as provided in Section 5(a).

2026 RSU Award Agreement – Associate

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**<u>Reorganization of Company and Subsidiaries</u>.** The existence of this Agreement shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the RSUs or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**<u>Withholding of Taxes</u>**. The Participant may owe federal, state, and local taxes in connection with the Award (the "<u>Taxes</u>"). Subject to Section 12, the Company shall withhold at the statutory minimum rates unless the Participant has elected prior to the payment date to have a higher amount (up to the maximum allowed by law) withheld. Unless the Participant elects (within the Company's system of record) prior to the payment date to satisfy the withholding requirement for any such Taxes to be withheld by the Company by check or direct debit (including, for the avoidance of doubt, cash transfer), the withholding of Taxes shall be mandatorily satisfied by withholding from the payment of the RSUs a number of Shares having a Fair Market Value equal to the amount required to be withheld for the Taxes. The Participant's acceptance of the Award constitutes the Participant's acknowledgment that the Company will (unless otherwise properly elected by the Participant pursuant to the terms of this Section 7) withhold on the Participant's behalf a number of Shares sufficient to satisfy the Taxes. The obligations of the Company under this Agreement will be conditional on such payment of the Taxes by the Participant. Notwithstanding anything to the contrary contained in this Section 7, Section 12, or otherwise, the Company (i) makes no representations or undertakings regarding the treatment of Taxes in connection with any aspect of this Award, and (ii) does not commit to structure the terms of the Award to reduce or eliminate the Participant's liability for Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**<u>Certain Restrictions</u>.** By accepting the RSUs, the Participant agrees that if, at the time of delivery of the Shares underlying the RSUs issued hereunder, any sale of such Shares is not covered by an effective registration statement filed under the Securities Act of 1933, as amended (the "<u>Act</u>"), the Participant will acquire such Shares for the Participant's own account and without a view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition the Participant will enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with the Act or any other securities law or with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**<u>Non-Solicitation; Non-Interference</u>.** [For Associates Not in Oklahoma: In exchange for the RSUs provided hereunder, the Participant agrees that he or she will not, upon separation of employment, for whatever reason, directly or indirectly through others, solicit or accept business from Established Customers (as defined below) for one year after separation of employment from the Company and/or its Affiliates (as applicable). For the same period, the Participant agrees that he or she will not interfere with, or attempt to interfere with, the Company's and its Affiliate's relationships with any of their Established Customers. The acceptance of traditional teller line business by the Participant operating in a retail branch is excluded from the non-solicitation and non-interference obligations set forth in this Section 9.][For Associates in Oklahoma: In exchange for the RSUs provided hereunder, the Participant agrees that he or she will not, upon separation of employment, for whatever reason, directly solicit existing Company business (or that of its Affiliates) from Established Customers (as defined below) for one year after separation of employment from the Company and/or its Affiliates (as applicable). For the same period, the Participant agrees that he or she will not interfere with, or attempt to interfere with, the Company's and its Affiliates' relationships with any of their Established Customers.]

For purposes of this Agreement, "Established Customers" shall be defined to mean any customer for whom the Participant provided services, held Confidential Information (as defined below), or had contact as a representative of the Company and/or its Affiliates (as applicable) while employed by the Company and/or its Affiliates (as applicable).

2026 RSU Award Agreement – Associate

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The Participant also agrees not to use or disclose Confidential Information. "Confidential Information" shall include any information as to the Company's or its Affiliates' strategy, business plans, methods or policies, systems, documentation, research or development projects, acquisitions, trade secrets, names and addresses of customers or employees, customer or employee lists, or any other data relating to past, present or prospective customers, or any other information relating to the business operations of Company, its Affiliates or their customers.

The Participant also agrees for one year after separation of employment from the Company and/or its Affiliates (as applicable) not to solicit, directly or indirectly through others, any Company or Affiliate associates for employment or to otherwise terminate employment with Company and/or its Affiliates (as applicable). The Participant agrees these provisions are reasonable and necessary to protect the Company's legitimate business interests.

Notwithstanding anything in this Agreement to the contrary, this Section 9 shall survive and remain in effect following the Participant's separation of employment regardless of the status of the RSUs at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**<u>Clawback</u>**. The RSUs and all Shares delivered and other compensation paid pursuant to the Award (whether before or after the RSUs have been converted to Shares) shall be subject to clawback by the Company as may be required by applicable law, government regulations, or stock exchange listing requirement, clawback provision set forth in the Plan and/or any other clawback procedure of the Company (including, without limitation and for the avoidance of doubt, any Company clawback policy), as amended from time to time, and whether approved before or after the Award Date, and on such basis as the Committee determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**<u>No Guarantee of Continued Employment</u>.** Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to terminate the employment of the Participant at any time and for any reason whatsoever, with or without Cause, subject to the applicable provisions of, if any, the Participant's employment agreement with the Company or any Subsidiary that employs the Participant or agreement provided by the Company or any Subsidiary to the Participant that employs the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**<u>No Guarantee of Tax Consequences</u>.** If the Participant is eligible to Retire on the Award Date or will become eligible to Retire at any time prior to any applicable Vesting Date, the RSUs are subject to Section 409A of the Code and the applicable regulations and guidance issued thereunder ("<u>Section 409A</u>") as of the Award Date, except in certain limited circumstances. To the extent the RSUs are exempt from Section 409A, nothing in this Section 12 shall require the RSUs to meet the requirements of Section 409A. To the extent the RSUs are subject to Section 409A, the Plan and this Agreement are intended to avoid the adverse tax consequences of Section 409A and shall be interpreted and administered accordingly. The provisions of Article XXII of the Plan, including the definitions provided thereunder and the six-month delay, are hereby incorporated by reference into this Agreement. For purposes of the timing of any payments under this Agreement which are subject to Section 409A, all references to "termination of employment," "Retire," "Retirement" or similar terms shall mean "separation from service" under Section 409A. A separation from service shall occur at the time required under Section 409A. Each payment hereunder shall be treated as a separate payment under Section 409A. When, if ever, a payment specifies a payment period with reference to a number of days (e.g., "payment shall be made within thirty (30) days following the date of termination"), the actual date of payment within the specified period shall be within the sole discretion of the Company or, if within the control of the Participant and payable over two calendar years, shall always be paid in the later calendar year. To the extent any provision of the Plan or Agreement is subject to and does not comply with Section 409A, such provision shall be interpreted and/or amended to comply with Section 409A, to the extent allowed under Section 409A. The Company makes no representation or warranty regarding, and shall not be responsible for, any excise tax imposed under Section 409A.

2026 RSU Award Agreement – Associate

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**<u>Banking Regulatory Provision</u>.** The RSUs and this Agreement shall be subject to any condition, limitation or prohibition under any financial institution regulatory policy or rule to which the Company or any Subsidiary thereof is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.**<u>Entire Agreement</u>.** This Agreement, together with the Grant Details page and the Plan, constitutes and contains the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior or contemporaneous oral or written agreements; provided however, that nothing in Section 9 is intended to supersede any other non-competition, non-solicitation, non-interference, confidentiality or similar obligations that the Participant may already have to the Company or its Affiliates. Rather, Section 9 shall be read in conjunction with and considered supplemental to such other obligations and shall at all times only enhance but never limit such other obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.**<u>Severability</u>.** In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.**<u>Governing Law</u>.** This Agreement shall be construed in accordance with the laws of the State of Arkansas to the extent federal law does not supersede and preempt Arkansas law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.**<u>Electronic Delivery and Signatures</u>.** The Participant hereby consents and agrees to electronic delivery of Share(s), Plan documents (including, without limitation and for the avoidance of doubt, this Agreement), proxy materials, annual reports and other related documents and hereby further consents and agrees to participate in the Plan through the current stock plan administrator's on-line system, or any other on-line system or electronic means that the Company may decide, in its sole discretion, to use in the future. If the Company has established or at any time establishes procedures for an electronic signature system for delivery and acceptance of Plan documents (including, without limitation and for the avoidance of doubt, this Agreement), the Participant hereby consents to such procedures and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature. The Participant consents and agrees that any such procedures and delivery may be effected by, among other things, a third party engaged by the Company to provide administrative services related to the Plan, including any program adopted under the Plan. For the avoidance of doubt, the Participant's indication via the current stock plan administrator's on-line system that the Participant has accepted this Award is considered the Participant's electronic signature and the Participant's express consent and agreement to this Agreement, the Grant Details page and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.**<u>Plan and Prospectus</u>.** A copy of the Plan, as well as a prospectus for the Plan, has been provided to the Participant, and the Participant acknowledges receipt thereof.

*[Signature Page Follows.]*

2026 RSU Award Agreement – Associate

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To evidence its grant of the Award, the Company has signed this Agreement as of the Award Date. This Agreement and the Award shall become legally binding, effective as of the Award Date, if the Participant indicates his or her acceptance of this Award on the on-line system of Etrade, the Company's current stock plan administrator, **[For Awards with an Award Date of January 15, 2026: no later than March 31, 2026] [For Awards with an Award Date after January 15, 2026: within sixty (60) days of the Award Date].** If the Participant fails to timely accept the Award, the Award shall be cancelled and forfeited <u>ab initio</u>.

**By accepting this Award, the Participant acknowledges that he or she: (a) has read this Agreement, the Grant Details page and the Plan; (b) has had the opportunity to be represented by legal counsel in connection with his or her acceptance of this Award; (c) understands and agrees to the terms, conditions, and consequences set forth in this Agreement, the Grant Details page and the Plan; and (d) is fully aware of the legal and binding effect of this Agreement, the Grant Details page and the Plan.**

---

| | |
|:---|:---|
| **SIMMONS FIRST NATIONAL CORPORATION** | **SIMMONS FIRST NATIONAL CORPORATION** |
|  | /s/ C. Daniel Hobbs |
| By: | C. Daniel Hobbs, Chief Financial Officer |

---

[SIGNATURE PAGE TO RESTRICTED STOCK UNIT AGREEMENT]

## Exhibit 10.7

Exhibit 10.7

*SIMMONS FIRST NATIONAL CORPORATION*

**2023 STOCK AND INCENTIVE PLAN**

**PERFORMANCE SHARE UNIT AGREEMENT**

**Grant Details**

---

| | |
|:---|:---|
| Participant Name: | [ ] |
| Award Type: | Performance Share Units |
| Award Date: | [ ] |
| Target Number of Performance Share Units Awarded: | [ ] |
| Performance Period: | January 1, 2026 through December 31, 2028 |
| Performance Goals: | • Relative Adjusted Return on Average Tangible Assets ("<u>Relative ROATA</u>")<br>• Relative Total Shareholder Return ("<u>TSR</u>") Modifier |

---

---

| | |
|:---|:---|
| **Performance Goal Tables** | **Performance Goal Tables** |
| <br>**Relative ROATA\* Performance** | <br>**Relative ROATA Performance Payout Percentage** <br>**(as % of Target)** |
| 0-10th Percentile | 0% |
| 20th Percentile | 30% |
| 30th Percentile | 60% |
| 40th Percentile | 90% |
| 50th Percentile | 100% |
| 60th Percentile | 110% |
| 70th Percentile | 140% |
| 80th Percentile | 170% |
| 90th-100th Percentile | 200% |

---

\*With straight-line interpolation between tiers

---

| | |
|:---|:---|
| **Modifier** |  |
| <br>**Relative TSR Performance**  | <br>**Relative TSR Performance Modifier**  |
| Bottom Quartile | 0.75 |
| 2nd & 3rd Quartile | 1.0 |
| Top Quartile | 1.25 |

---

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;1

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**SIMMONS FIRST NATIONAL CORPORATION**

**2023 STOCK AND INCENTIVE PLAN**

**PERFORMANCE SHARE UNIT AGREEMENT**

This Performance Share Unit Agreement (this "<u>Agreement</u>"), dated as of the award date indicated (the "<u>Award Date</u>") on the Grant Details page (as defined below), is made between Simmons First National Corporation, an Arkansas corporation (the "<u>Company</u>"), and the individual whose name is indicated on the Grant Details page (the "<u>Participant</u>").

**WHEREAS**, the Simmons First National Corporation 2023 Stock and Incentive Plan (the "<u>Plan</u>") permits the grant of Performance Share Units in accordance with the terms and provisions of the Plan; and

**WHEREAS**, in consideration of the services to be rendered by the Participant to the Company and/or its Affiliates, the Company desires to grant Performance Share Units (the "<u>PSUs</u>") to the Participant, and the Participant desires to accept such PSUs, on the terms and conditions set forth herein and in the Plan.

**NOW, THEREFORE**, in consideration of the foregoing recitals and the mutual promises set forth below, the parties hereto agree as follows:

1.**<u>Grant of PSUs</u>**. The Company hereby grants to the Participant the target number of PSUs set forth on the Grant Details page (the "<u>Target PSUs</u>"), subject to the terms and conditions of this Agreement. Each PSU represents the right to receive a Share on the date it vests. At the end of the Performance Period set forth on the Grant Details page, and subject to the service requirements set forth in Section 3 and achievement of the Performance Goals set forth on the Grant Details page and in Section 4 (the "<u>Performance Goals</u>"), the Participant can earn and vest in up to 200% of the Target PSUs or as little as no PSUs, depending upon actual performance compared to the Performance Goals. The PSUs are granted pursuant to the Plan and are subject to the provisions of the Plan, which is hereby incorporated herein and made a part hereof, as well as the provisions of this Agreement. The Participant agrees to be bound by all of the terms and conditions of the Plan and this Agreement. To the extent the terms of the Plan and this Agreement are in conflict, the terms of the Plan shall govern. All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided in this Agreement. All references to specified sections pertain to sections of this Agreement unless otherwise specifically provided.

For purposes of this Agreement, "<u>Grant Details page</u>" shall mean the Grant Details page attached to the front of this Agreement that indicates, among other things, the Award Date, the name of the Participant, and the target number of PSUs awarded, all of which information is hereby incorporated herein by reference and made a part of this Agreement.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;2

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2. **<u>No Transfer of PSUs</u>.** Before the PSUs become vested, the Participant shall have no rights to or with respect to the PSUs or the Shares underlying such PSUs except as specifically set forth in this Agreement. Such PSUs shall not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, other than as provided under this Agreement or the Plan. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of the Participant.

3.**<u>Risk of Forfeiture</u>**. The PSUs are not earned and are subject to forfeiture until they vest. Subject to Section 5, the Participant must remain in continuous employment with the Company and/or its Affiliates (as applicable) through the date the Participant's Final Award (as defined below) is certified by the Committee at the first regularly scheduled meeting following the date final financial results are available (the "<u>Certification Date</u>") to earn and vest in the Final Award (if any). In all events, the Certification Date shall occur between January 1 and March 15 of the year immediately following the last day of the Performance Period. Subject to Section 5, in the event the Participant ceases to be employed by the Company and/or its Affiliates (as applicable) for any or no reason before the Participant vests in the PSUs on the Certification Date, such unvested PSUs will not be earned and will be immediately forfeited and cancelled, and the Participant's right to acquire any Shares under this Agreement will immediately terminate. For purposes of this Agreement, the "<u>Period of Restriction</u>" means the first day of the Performance Period through the Certification Date.

4.**<u>Determination of Final Award</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Determination of Final Award</u>. Subject to earlier vesting or forfeiture as provided in this Agreement, and subject to the Participant remaining in continuous employment with the Company and/or its Affiliates (as applicable) through the Certification Date, the Participant shall be issued Shares equal to the Target PSUs multiplied by the Final Payout Percentage (as defined below) (the "<u>Final Award</u>"). If necessary to avoid vesting of a fractional Share, the Final Award shall be rounded up to the nearest whole Share such that no fractional Shares are issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Final Payout Percentage</u>. The final payout percentage shall be calculated by multiplying the Relative ROATA Payout Percentage (as defined below) by the Relative TSR Performance Modifier (as defined below) (the "<u>Final Payout Percentage</u>"). Notwithstanding anything to the contrary in this Agreement, in no event shall the Final Award earned exceed 200% of the Participant's Target PSUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Relative ROATA Performance</u>. For purposes of determining the payout percentage under the Relative ROATA Performance Goal ("<u>Relative ROATA Payout Percentage</u>"), attainment calculations shall be performed according to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Adjusted return on average tangible assets ("ROATA") for the Company shall be calculated in the same manner as used for calculating Adjusted ROATA in the Company's published financial disclosures.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;3

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)At the end of the Performance Period, the weighted average (using the weightings in the following table) of the Company's 2026, 2027, and 2028 Adjusted ROATA shall be calculated ("Total Weighted ROATA").

---

| | |
|:---|:---|
| Year | Weight |
| 2026 | 20% |
| 2027 | 30% |
| 2028 | 50% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)At the end of the Performance Period, the weighted average (using the weightings in the immediately preceding table) of the 2026, 2027, and 2028 Adjusted ROATA of each bank that has been included in the KBW Regional Banking Index (KRXTR) for the full Performance Period excluding Company ("Index Banks") shall be calculated (each such average, a "Three Year Average ROATA") such that each Index Bank has a Three Year Average ROATA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)Each Index Bank's Three Year Average ROATA and the Company Total Weighted ROATA shall be organized and assessed from lowest to highest, and the resulting percentile rank of Company's Total Weighted ROATA shall be analyzed against the "Relative ROATA Performance" section of the Performance Goal Tables set forth on the Grant Details page (the "Performance Goal Tables") to determine the Relative ROATA Payout Percentage. With respect to the Relative ROATA performance in the Performance Goal Tables, for attainment in between the percentiles listed, the Relative ROATA Payout Percentage is a sliding scale based on a straight-line interpolation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)Relative TSR Performance Modifier. For purposes of determining the applicable Relative TSR Performance Modifier (the "Relative TSR Performance Modifier"), calculations shall be performed according to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)The TSR calculation shall be based on an average of the first twenty (20) and final twenty (20) trading days in the Performance Period for the computation of both the Company's TSR and the TSR for each of the Index Banks. The daily TSR computations shall be determined for the Company according to its (or its designee's) standard TSR methodology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)At the end of the Performance Period, the TSR of each Index Bank and the Company shall be organized from lowest to highest and divided into quartiles. The Company's quartile shall then be analyzed against the "Relative TSR Performance" section of the Performance Goal Tables to determine the Relative TSR Performance Modifier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)With respect to any Performance Goal that uses the KBW Regional Banking Index (KRXTR), if such index is not readily available (or if the relevant information concerning it is not readily available), the Committee shall select a substitute index, which shall be, to the extent practicable, reasonably comparable to the KBW Regional Banking Index (KRXTR).

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;4

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Discretion to Reduce or Increase Award</u>. Notwithstanding anything to the contrary in this Section 4, the Committee reserves the right to adjust the amount payable under this Agreement prior to the time it has been earned, in accordance with any standard or on any other basis as the Committee may determine, including individual performance or the Committee's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Extraordinary Events</u>. Notwithstanding anything to the contrary in this Section 4, in determining the achievement of the Performance Goals, and for other appropriate purposes under this Agreement or the Plan, the Committee will have the discretion to take into consideration any or all of the following: (a) the effects of business combinations; (b) the effects of discontinued operations; (c) changes in accounting principles; (d) extraordinary items; (e) restructuring charges; (f) changes in tax law; (g) changes in capital structure and (h) any other items as determined by the Committee. Items (a) through (g) will be as defined and as disclosed in the Company's financial disclosures.

5.**<u>Vesting in the PSUs</u>**. Except as noted below in this Section 5 and subject in all events to the provisions in Sections 3, 4 and 6, the Participant shall vest in the PSUs on the Certification Date if the Participant remains continuously employed through the end of the Period of Restriction and the performance and other requirements in this Agreement are met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Violation of Restrictive Covenants</u>. All vesting of the PSUs shall cease immediately upon the Participant's breach, in the Committee's determination, of any confidentiality, non-disclosure, non-competition, or non-solicitation obligation, commitment or agreement with the Company or its Affiliates prior to the end of the Period of Restriction, and the PSUs shall be cancelled immediately and shall not be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Involuntary Termination without Cause, Voluntary Termination, or Termination for Cause</u>. If the Participant is involuntarily terminated without Cause (as defined below), quits, is terminated for Cause, or otherwise experiences a termination of employment prior to the end of the Period of Restriction, and under circumstances not described in Subsections 5(c), 5(d) and 5(e) below, the PSUs shall be cancelled immediately and shall not be payable, except to the extent the Committee decides otherwise prior to the date of such termination. To the extent the Committee decides to vest any PSUs that would otherwise be cancelled, the Committee shall determine the Final Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. In such event, the Final Award (if any) shall be payable to the Participant at the time the PSUs would have been payable had the Participant been employed on the Certification Date in accordance with Section 6. Payment of the Final Award (if any) will not be accelerated.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;5

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Retirement</u>. If the Participant Retires (as defined below) prior to the end of the Period of Restriction, the Participant shall vest in the PSUs for the Performance Period as if the Participant had remained employed during the entire Period of Restriction. Whether such Retirement occurs at or before the end of the Performance Period or after the end of the Performance Period but prior to the Certification Date, the Committee shall determine the Final Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. The Final Award (if any) shall be payable to the Participant at the time the PSUs would have been payable had the Participant been employed on the Certification Date in accordance with Section 6. Payment of the Final Award (if any) will not be accelerated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Termination by Reason of Death or Disability</u>. Upon the occurrence of the Participant's death or termination of employment due to disability prior to the end of the Period of Restriction, the Participant shall vest in the PSUs for the Performance Period as if the Participant had remained employed during the entire Period of Restriction. Whether such termination occurs at or before the end of the Performance Period or after the end of the Performance Period but prior to the Certification Date, the Committee shall determine the Final Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. In either event, the Final Award (if any) shall be payable to the Participant or the Participant's personal representative, if applicable, or in the case of death, to the Participant's Beneficiary (or as otherwise provided in Article XVII of the Plan in the event there is no Beneficiary) at the time the PSUs would have been payable had the Participant been employed on the Certification Date in accordance with Section 6. Payment of the Final Award (if any) will not be accelerated. For the avoidance of doubt, the Committee's determination in good faith regarding whether a disability has occurred shall be conclusive and determinative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Change in Control</u>. If there is a Change in Control before the end of the Period of Restriction and the Participant is employed at the time of the Change in Control, the PSUs shall be subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)If the Change in Control occurs at any time during the nine (9) month period beginning on the first day of the Performance Period, the PSUs will not be earned and will be immediately forfeited and cancelled, except to the extent the Committee decides otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)If the Change in Control occurs at any time after the nine (9) month period beginning on the first day of the Performance Period has concluded, the Participant shall vest in the PSUs for the Performance Period as if the Participant had remained employed during the entire Period of Restriction, and such vesting shall occur as of the Change in Control Date. The Committee shall determine the Final Award based upon an assumed achievement of the Performance Goals at their "Target" levels. The Final Award shall be paid within thirty (30) days after the Change in Control Date.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;6

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Definitions</u>. For purposes of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Cause" shall have the meaning assigned such term in the employment, severance or similar agreement, if any, between such Participant and the Company or an Affiliate; <u>provided</u>, <u>however</u>, that if there is no such employment, severance or similar agreement in which such term is defined, "Cause" shall mean any of the following acts by the Participant, as determined by the Committee: gross neglect of duty, prolonged absence from duty without the consent of the Company or its Affiliates; material breach by the Participant of any published Company code of conduct or code of ethics; or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined to be detrimental to the Company or its Affiliates. The determination of the Committee as to the existence of "Cause" shall be conclusive on the Participant and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Change in Control Date" shall mean the date that a Change in Control is consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Retire" or "Retirement" means a voluntary termination of employment on or after the earlier of (i) age 65 or (ii) age 60 and 10 years of service. Years of service shall include service with a predecessor employer acquired by the Company or its Affiliates unless otherwise determined by the Committee.

**6.<u>Payment of Final Award; Ownership Rights</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Payment of Final Award</u>. As soon as reasonably practicable after the completion of the Performance Period, the Committee shall determine the level of attainment of each Performance Goal, which determines the Final Award as provided in Section 4. Payment of the Final Award (if any) shall be made in Shares, except for any dividend equivalent payments under Section 7, which shall be paid in cash. Such Shares and cash shall be paid to the Participant or the Participant's personal representative, if applicable, or in the case of death, to the Participant's Beneficiary (or as otherwise provided in Article XVII of the Plan in the event there is no Beneficiary) after the Certification Date, but in all events except in the case of a delay allowed under Section 13, between January 1 and March 15 of the year following the end of the Performance Period (the "<u>Payment Period</u>"), except as otherwise provided in Section 5(e)(ii). Notwithstanding any other provision of this Agreement, the issuance and delivery of the Shares under this Section 6 shall be subject to the requirements of Section 10, including restrictions on transfer as provided therein to the extent applicable.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;7

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Issuance and Delivery of Shares</u>. Any Shares paid to the Participant in accordance with Section 6(a) will be issued in the name of and delivered to the Participant via electronic delivery to the Participant's account with the Company's stock plan administrator and will be freely transferable by the Participant. The Board may change the above procedure for issuance and delivery of Shares at any time, provided that such procedure complies with Section 409A (as defined in Section 13 below), to the extent applicable. Notwithstanding any other provision of this Agreement, the issuance and delivery of the Shares under this Section 6(b) shall be subject to the requirements of Section 10, including restrictions on transfer as provided therein to the extent applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Ownership Rights</u>. The Participant is not entitled to any voting and ownership rights applicable to the Shares underlying the PSUs prior to the issuance of the Shares. Following the issuance and delivery of the Shares, the Participant shall have all voting and ownership rights as provided to other holders of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Limits on Obligations</u>. No interest shall accrue or otherwise be due in the event the Company delays the payment of the PSUs beyond the applicable payment date for administrative reasons. Any delay shall be in accordance with the requirements of Section 13. However, the Company shall not be liable to the Participant or any successor in interest for damages relating to any delays in issuing and delivering the Shares to the Participant or any successor in interest, or any mistakes or errors in the issuance or delivery of the Shares or in payment or delivery of Shares or cash amounts payable under this Agreement.

7.**<u>Dividend Equivalents</u>.** During the Payment Period, the Participant will receive a cash payment equal to the value of the cash dividends that would have been paid by the Company to shareholders of record during the Performance Period (and, for purposes of this sentence, as if the Participant became a shareholder of record on the first day of the Performance Period) on the number of Shares issued to the Participant with respect to the Final Award. No other dividends will be paid in connection with the grant of PSUs under this Agreement.

8.**<u>Reorganization of Company and Subsidiaries</u>**. The existence of this Agreement shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the PSUs or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;8

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9.**<u>Withholding of Taxes</u>**. The Participant may owe federal, state, and local taxes in connection with the Award (the "<u>Taxes</u>"). Subject to Section 13, the Company shall withhold at the statutory minimum rates unless the Participant has elected prior to the payment date to have a higher amount (up to the maximum allowed by law) withheld. Unless the Participant elects (within the Company's system of record) prior to the payment date to satisfy the withholding requirement for any such Taxes to be withheld by the Company by check or direct debit (including, for the avoidance of doubt, cash transfer), the withholding of Taxes shall be mandatorily satisfied by withholding from the payment of the Final Award a number of Shares having a Fair Market Value equal to the amount required to be withheld for the Taxes. The Participant's acceptance of the Award constitutes the Participant's acknowledgment that the Company will (unless otherwise properly elected by the Participant pursuant to the terms of this Section 9) withhold on the Participant's behalf a number of Shares sufficient to satisfy the Taxes. The obligations of the Company under this Agreement will be conditional on such payment of the Taxes by the Participant. Notwithstanding anything to the contrary contained in this Section 9, Section 13, or otherwise, the Company (i) makes no representations or undertakings regarding the treatment of Taxes in connection with any aspect of this Award, and (ii) does not commit to structure the terms of the Award to reduce or eliminate the Participant's liability for Taxes.

10.**<u>Certain Restrictions</u>**. By accepting the PSUs, the Participant agrees that if, at the time of delivery of the Shares underlying the PSUs issued hereunder, any sale of such Shares is not covered by an effective registration statement filed under the Securities Act of 1933, as amended (the "<u>Act</u>"), the Participant will acquire such Shares for the Participant's own account and without a view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition the Participant will enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with the Act or any other securities law or with this Agreement.

11.**<u>Clawback</u>.** The PSUs and all Shares delivered and other compensation paid pursuant to the Award (whether before or after the PSUs have been converted to Shares) shall be subject to clawback by the Company as may be required by applicable law, government regulations, or stock exchange listing requirement, clawback provision set forth in the Plan and/or any other clawback procedure of the Company (including, without limitation and for the avoidance of doubt, any Company clawback policy), as amended from time to time, and whether approved before or after the Award Date and on such basis as the Committee determines.

12.**<u>No Guarantee of Continued Employment</u>.** Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to terminate the employment of the Participant at any time and for any reason whatsoever, with or without Cause, subject to the applicable provisions of, if any, the Participant's employment agreement with the Company or any Subsidiary that employs the Participant or agreement provided by the Company or any Subsidiary to the Participant that employs the Participant.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;9

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13.**<u>No Guarantee of Tax Consequences</u>.** If the Participant is eligible to Retire on the Award Date or will become eligible to Retire at any time prior to the end of the Period of Restriction, the PSUs are subject to Section 409A of the Code and the applicable regulations and guidance issued thereunder ("<u>Section 409A</u>") as of the Award Date, except in certain limited circumstances. To the extent the PSUs are exempt from Section 409A, nothing in this Section 13 shall require the PSUs to meet the requirements of Section 409A. To the extent the PSUs are subject to Section 409A, the Plan and this Agreement are intended to avoid the adverse tax consequences of Section 409A and shall be interpreted and administered accordingly. The provisions of Article XXII of the Plan, including the definitions provided thereunder and the six-month delay, are hereby incorporated by reference into this Agreement. For purposes of the timing of any payments under this Agreement which are subject to Section 409A, all references to "termination of employment," "Retire," "Retirement" or similar terms shall mean "separation from service" under Section 409A. A separation from service shall occur at the time required under Section 409A. Each payment hereunder shall be treated as a separate payment under Section 409A. When, if ever, a payment specifies a payment period with reference to a number of days (e.g., "payment shall be made within thirty (30) days following the date of termination"), the actual date of payment within the specified period shall be within the sole discretion of the Company or, if within the control of the Participant and payable over two calendar years, shall always be paid in the later calendar year. To the extent any provision of the Plan or Agreement is subject to and does not comply with Section 409A, such provision shall be interpreted and/or amended to comply with Section 409A, to the extent allowed under Section 409A. The Company makes no representation or warranty regarding, and shall not be responsible for, any excise tax imposed under Section 409A.

14.**<u>Banking Regulatory Provision</u>.** The PSUs and this Agreement shall be subject to any condition, limitation or prohibition under any financial institution regulatory policy or rule to which the Company or any Subsidiary thereof is subject.

15.**<u>Entire Agreement</u>**. This Agreement, together with the Grant Details page and the Plan, constitutes and contains the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior or contemporaneous oral or written agreements.

16.**<u>Severability</u>.** In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

17.**<u>Governing Law</u>**. This Agreement shall be construed in accordance with the laws of the State of Arkansas to the extent federal law does not supersede and preempt Arkansas law.

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;10

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18.**<u>Electronic Delivery and Signatures</u>.** The Participant hereby consents and agrees to electronic delivery of Share(s), Plan documents (including, without limitation and for the avoidance of doubt, this Agreement), proxy materials, annual reports and other related documents and hereby further consents and agrees to participate in the Plan through the current stock plan administrator's on-line system, or any other on-line system or electronic means that the Company may decide, in its sole discretion, to use in the future. If the Company has established or at any time establishes procedures for an electronic signature system for delivery and acceptance of Plan documents (including, without limitation and for the avoidance of doubt, this Agreement), the Participant hereby consents to such procedures and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature. The Participant consents and agrees that any such procedures and delivery may be effected by, among other things, a third party engaged by the Company to provide administrative services related to the Plan, including any program adopted under the Plan. For the avoidance of doubt, the Participant's indication via the current stock plan administrator's on-line system that the Participant has accepted this Award is considered the Participant's electronic signature and the Participant's express consent and agreement to this Agreement, the Grant Details page and the Plan.

19.**<u>Plan and Prospectus</u>.** A copy of the Plan, as well as a prospectus for the Plan, has been provided to the Participant, and the Participant acknowledges receipt thereof.

*[Signature Page Follows.]*

2026 PSU Award Agreement&nbsp;&nbsp;&nbsp;&nbsp;11

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*To evidence its grant of the Award, the Company has signed this Agreement as of the Award Date. This Agreement and the Award shall become legally binding, effective as of the Award Date, if the Participant indicates his or her acceptance of this Award on the on-line system of Etrade, the Company's current stock plan administrator****,* [For Awards with an Award Date of January 15, 2025: no later than March 31, 2026] [For Awards with an Award Date after January 15, 2026: within sixty (60) days of the Award Date]*.*** *If the Participant fails to timely accept the Award, the Award shall be cancelled and forfeited <u>ab initio</u>.*

***By accepting this Award, the Participant acknowledges that he or she: (a) has read this Agreement, the Grant Details page and the Plan; (b) has had the opportunity to be represented by legal counsel in connection with his or her acceptance of this Award; (c) understands and agrees to the terms, conditions, and consequences set forth in this Agreement, the Grant Details page and the Plan; and (d) is fully aware of the legal and binding effect of this Agreement, the Grant Details page and the Plan.***

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| | |
|:---|:---|
| **SIMMONS FIRST NATIONAL CORPORATION** | **SIMMONS FIRST NATIONAL CORPORATION** |
|  | /s/ C. Daniel Hobbs |
| By: | C. Daniel Hobbs, Chief Financial Officer |

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[SIGNATURE PAGE TO EXECUTIVE PERFORMANCE SHARE UNIT AGREEMENT]

## Exhibit 10.8

Exhibit 10.8

**SIMMONS FIRST NATIONAL CORPORATION**

**2023 STOCK AND INCENTIVE PLAN**

**PERFORMANCE CASH AWARD AGREEMENT**

**Grant Details**

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| | |
|:---|:---|
| Participant Name: | [ ] |
| Award Type: | Performance Cash Award |
| Award Date: | [ ] |
| Target Award: | [ ] |
| Maximum Award: | [ ] |
| Performance Period: | January 1, 2026 through December 31, 2026 |
| Performance Goals: | Individual Performance (15% Weighting)<br>Financial Metrics (85% Aggregate Weighting – *see below for additional information regarding Financial Metrics*) |

---

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| | | |
|:---|:---|:---|
| Financial Metrics | Financial Metrics | Financial Metrics |
|  | Adjusted Pre-Provision Net Revenue Less Net Charge-Offs (42.5% Weighting) | Adjusted Efficiency Ratio (42.5% Weighting) |
| Under Attainment Range |  |  |
| Landing Zone |  |  |
| Over Attainment Range |  |  |

---

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**SIMMONS FIRST NATIONAL CORPORATION**

**2023 STOCK AND INCENTIVE PLAN**

**PERFORMANCE CASH AWARD AGREEMENT**

This Performance Cash Award Agreement (this "<u>Agreement</u>"), dated as of the award date indicated (the "<u>Award Date</u>") on the Grant Details page (as defined below), is made between Simmons First National Corporation, an Arkansas corporation (the "<u>Company</u>"), and the individual whose name is indicated on the Grant Details page (the "<u>Participant</u>").

**WHEREAS**, the Simmons First National Corporation 2023 Stock and Incentive Plan (the "<u>Plan</u>") permits the grant of a Performance Cash Award in accordance with the terms and provisions of the Plan; and

**WHEREAS**, in consideration of the services to be rendered by the Participant to the Company and/or its Affiliates, the Company desires to grant a Performance Cash Award (the "<u>Cash Award</u>") to the Participant, and the Participant desires to accept such Cash Award, on the terms and conditions set forth herein and in the Plan.

**NOW, THEREFORE**, in consideration of the foregoing recitals and the mutual promises set forth below, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.**<u>Grant of Cash Award</u>**. The Company hereby grants to the Participant the target Cash Award set forth on the Grant Details page (the "<u>Target Award</u>"), subject to the terms and conditions of this Agreement. At the end of the Performance Period set forth on the Grant Details page, and subject to the achievement of the Performance Goals set forth on the Grant Details page and in Section 4 (the "<u>Performance Goals</u>"), the Participant can earn up to the maximum Cash Award set forth on the Grant Details page (the "<u>Maximum Award</u>"), depending upon actual performance compared to the Performance Goals. The Cash Award is granted pursuant to the Plan and is subject to the provisions of the Plan, which is hereby incorporated herein and made a part hereof, as well as the provisions of this Agreement. The Participant agrees to be bound by all of the terms and conditions of the Plan and this Agreement. To the extent the terms of the Plan and this Agreement are in conflict, the terms of the Plan shall govern. All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided in this Agreement. All references to specified sections pertain to sections of this Agreement unless otherwise specifically provided.

For purposes of this Agreement, "<u>Grant Details page</u>" shall mean the Grant Details page attached to the front of this Agreement that indicates, among other things, the Award Date, the name of the Participant, and the Target Award, all of which information is hereby incorporated herein by reference and made a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>No Transfer of Cash Award</u>**. Before the Cash Award becomes vested, the Participant shall have no rights to or with respect to the Cash Award except as specifically set forth in this Agreement. Such Cash Award shall not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, other than as provided under this Agreement or the Plan. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of the Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.**<u>Risk of Forfeiture</u>**. The Cash Award is not earned and is subject to forfeiture until it vests. Subject to Section 5, the Participant must remain in continuous employment with the Company and/or its Affiliates (as applicable) through the end of the Performance Period (the "<u>Determination Date</u>") to earn and vest in any Final Cash Award. In the event the Participant ceases to be employed by the Company and/or its Affiliates (as applicable) for any or no reason before the Participant vests in the Cash Award on the Determination Date, the Cash Award will be immediately forfeited and cancelled and the Participant's rights under this Agreement will not be earned and will immediately terminate. For purposes of this Agreement, the "<u>Period of Restriction</u>" means the first day of the Performance Period through the Determination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.**<u>Determination of Final Cash Award</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Determination of Final Cash Award</u>. Subject to earlier vesting or forfeiture as provided in this Agreement, and subject to the Participant remaining in continuous employment with the Company and/or its Affiliates (as applicable) through the Determination Date, the Participant shall be entitled to receive a cash payment in the amount of the Target Award multiplied by the Final Attainment (as defined below) (the "<u>Final Cash Award</u>"). The Final Cash Award shall be computed following the Determination Date, with the timing of such Final Cash Award subject to the provisions of Section 6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)For purposes of the computation of the "<u>Final Attainment</u>":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)The performance achieved with respect to each Performance Goal shall be determined by the Committee. Achievement above the Maximum level will be deemed achievement at the Maximum level. Achievement below the Under Attainment Range will result in no achievement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "Adjusted Pre-Provision Net Revenue Less Net Charge-Offs" (which is also referred to in this Agreement as "<u>PPNR</u>") shall be the adjusted pre-provision net revenue that the Company attained for the Performance Period less net charge-offs, both as reflected in the Company's public financial disclosures (subject, for the avoidance of doubt, to adjustment pursuant to Section 4). PPNR attainment within the "Under Attainment Range," Landing Zone," and "Over Attainment Range," all as indicated in the table below, shall be calculated using a sliding scale based on a straight line interpolation between the two indicated amounts for the particular range and shall be expressed as a percentage.

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| | | |
|:---|:---|:---|
| **Attainment** | **Level** | **Payout (expressed as a percentage)** |
|  | Under Attainment Range | 1% - 89.99% |
|  | Landing Zone | 90% - 110% |
|  | Over Attainment Range | 110.1% - 200% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "Adjusted Efficiency Ratio" (which is also referred to in this Agreement as "<u>ER</u>") shall be the adjusted efficiency ratio that the Company attained for the Performance Period, as reflected in the Company's public financial disclosures (subject, for the avoidance of doubt, to adjustment pursuant to Section 4). ER attainment within the "Under Attainment Range," "Landing Zone," and "Over Attainment Range," all as indicated in the table below, shall be calculated using a sliding scale based on a straight line interpolation between the two indicated amounts for the particular range and shall be expressed as a percentage.

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| | | |
|:---|:---|:---|
| **Attainment (from highest to lowest)** | **Level** | **Payout (from lowest to highest, expressed as a percentage of Target)** |
|  | Under Attainment Range | 1% - 89.99% |
|  | Landing Zone | 90% - 110% |
|  | Over Attainment Range | 110.1% - 200% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)"Individual Performance" shall be expressed as a percentage (from 0% to 200%) and shall be based on the consideration of performance other than the Financial Metrics outlined herein. Such considerations include, but are not limited to, the individual Participant's performance against the "Simmons Core Five" strategy pillars of soundness (including risk management and asset quality), efficiency, growth, experience and culture, achievement of strategic goals, execution of enterprise objectives, leadership effectiveness, and such other factors as may be relevant to the assessment of the Participant's individual performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)The attainment of each of PPNR and ER (expressed as a percentage) shall be multiplied by the weighting for that Performance Goal indicated in the Performance Goals section of the Grant Details page. Both such products shall then be added together (the resulting amount shall be deemed the "<u>Final Financial Metrics Attainment</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)The Final Financial Metrics Attainment shall then be added to the product of the attainment of each Participant's Individual Performance multiplied by the weighting for Individual Performance indicated in the Performance Goals section of the Grant Details page, with the resulting amount (subject to such further adjustment as provided in the other provisions of this Agreement) deemed the Final Attainment for each Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Extraordinary Events</u>. Notwithstanding anything to the contrary in this Section 4, in determining the achievement of the Performance Goals, and for other appropriate purposes under this Agreement or the Plan, the Committee will have the discretion to take into consideration any or all of the following: (a) the effects of business combinations; (b) the effects of discontinued operations; (c) changes in accounting principles; (d) extraordinary items; (e) restructuring charges; (f) changes in tax law; (g) changes in capital structure; and (h) any other items as determined by the Committee. Items (a) through (g) will be as defined and as disclosed in the Company's public financial disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Maximum Award</u>. Notwithstanding anything herein to the contrary, in no event shall the Final Cash Award exceed the Maximum Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.**<u>Vesting in the Cash Award</u>**. Except as noted below in this Section 5 and subject in all events to the provisions in Sections 3, 4 and 6, the Participant shall vest in the Final Cash Award (if any) on the Determination Date if the Participant remains continuously employed through the end of the Period of Restriction and the performance and other requirements in this Agreement are met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Violation of Restrictive Covenants</u>. All vesting of the Cash Award shall cease immediately upon the Participant's breach, in the Committee's determination, of any confidentiality, non-disclosure, non-competition, or non-solicitation obligation, commitment or agreement with the Company or its Affiliates prior to the end of the Period of Restriction, and the Cash Award shall not be earned and shall be cancelled immediately and shall not be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Involuntary Termination without Cause, Voluntary Termination, or Termination for Cause</u>. If the Participant is involuntarily terminated without Cause (as defined below), quits, is terminated for Cause, or otherwise experiences a termination of employment prior to the end of the Period of Restriction, and under circumstances not described in Subsections 5(c), 5(d) and 5(e) below, the Cash Award shall not be earned and shall be cancelled immediately and shall not be payable, except to the extent the Committee decides otherwise prior to the date of such termination. To the extent the Committee decides to vest any portion of the Cash Award that would otherwise be cancelled, the Committee shall determine the Final Cash Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. The Final Cash Award (if any) shall be payable to the Participant during the Payment Period in accordance with Section 6. Payment of the Final Cash Award (if any) will not be accelerated.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)<u>Retirement</u>. If the Participant Retires (as defined below) at or prior to the end of the Period of Restriction, the Participant shall vest in the Cash Award for the Performance Period as if the Participant had remained employed during the entire Period of Restriction, subject to proration as provided in this Subsection 5(c). The Committee shall determine the Final Cash Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4; <u>provided</u>, <u>however</u>, that, except to the extent the Committee decides otherwise prior to the date of such Retirement, such Final Cash Award shall be prorated and the remaining portion shall be cancelled immediately and shall not be payable. The prorated portion of the Final Cash Award shall be determined by multiplying (i) the Final Cash Award had the Participant remained in service with the Company for the entire Performance Period, by (ii) a fraction, the numerator of which is the number of days the Participant was employed during the Performance Period prior to Retirement, and the denominator of which is the total number of days in the Performance Period. Notwithstanding the foregoing, if the Participant Retires after the end of the Performance Period but prior to payment, the Committee shall determine the Final Cash Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4, but such Final Cash Award will not be subject to proration. In either event, the Final Cash Award (if any) shall be payable to the Participant during the Payment Period in accordance with Section 6. Payment of the Final Cash Award (if any) will not be accelerated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)<u>Termination by Reason of Death or Disability</u>. Upon the occurrence of the Participant's death or termination of employment due to disability at or prior to the end of the Period of Restriction, the Participant shall vest in the Cash Award for the Performance Period as if the Participant had remained employed during the entire Period of Restriction. The Committee shall determine the Final Cash Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. For the avoidance of doubt, if the Participant dies or becomes disabled after the Performance Period but prior to payment, the Committee shall determine the Final Cash Award based upon the achievement of the Performance Goals during the Performance Period in accordance with Section 4. In either event, the Final Cash Award (if any) shall be payable to the Participant or the Participant's personal representative, if applicable, or in the case of death, to the Participant's Beneficiary (or as otherwise provided in Article XVII of the Plan in the event there is no Beneficiary) during the Payment Period in accordance with Section 6. Payment of the Final Cash Award (if any) will not be accelerated. For the avoidance of doubt, the Committee's determination in good faith regarding whether a disability has occurred shall be conclusive and determinative.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)<u>Change in Control</u>. If there is a Change in Control at or prior to the end of the Period of Restriction and the Participant is employed at the time of the Change in Control, the Participant shall vest in the Target Award for the Performance Period and such vesting shall occur as of the Change in Control Date; <u>provided</u>, <u>however</u>, such Final Cash Award shall be prorated and the remaining portion shall be cancelled immediately and shall not be payable. The prorated portion of the Final Cash Award shall be determined by multiplying (i) the Final Cash Award had the Participant remained in service with the Company for the entire Performance Period based upon an assumed achievement of the Performance Goals at their "Target" levels (or, in the case of the "Individual Performance" Performance Goal, performance at 100%), by (ii) a fraction, the numerator of which is the number of days in the Performance Period elapsed as of the Change in Control Date, and the denominator of which is the total number of days in the Performance Period. In addition, if a Change in Control occurs after the Performance Period but prior to payment and the Participant is employed at the time of the Change in Control, the Committee shall determine the Final Cash Award based upon an assumed achievement of the Performance Goals at their "Target" levels (or, in the case of the "Individual Performance" Performance Goal, performance at 100%) and such Final Cash Award (if any) will not be subject to proration. In either event, the Final Cash Award (if any) shall be paid within thirty (30) days after the Change in Control Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)<u>Definitions</u>. For purposes of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Cause" shall have the meaning assigned such term in the employment, severance or similar agreement, if any, between such Participant and the Company or an Affiliate; <u>provided</u>, <u>however</u>, that if there is no such employment, severance or similar agreement in which such term is defined, "Cause" shall mean any of the following acts by the Participant, as determined by the Committee: gross neglect of duty, prolonged absence from duty without the consent of the Company or its Affiliates; material breach by the Participant of any published Company code of conduct or code of ethics; or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined to be detrimental to the Company or its Affiliates. The determination of the Committee as to the existence of "Cause" shall be conclusive on the Participant and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Change in Control Date" shall mean the date that a Change in Control is consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Retire" or "Retirement" means a voluntary termination of employment on or after the earlier of (i) age 65 or (ii) age 60 and 10 years of service. Years of service shall include service with a predecessor employer acquired by the Company or its Affiliates unless otherwise determined by the Committee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.**<u>Payment of Final Cash Award</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Payment of Final Cash Award</u>. As soon as reasonably practicable after the completion of the Performance Period (and in no event later than March 15 of the year immediately following the last day of the Performance Period), the Committee shall determine the level of attainment of each Performance Goal, which determines the Final Cash Award as provided in Section 4. Payment of the Final Cash Award (if any) shall be made in cash. Such cash amount shall be paid to the Participant or the Participant's personal representative, if applicable, or in the case of death, to the Participant's Beneficiary (or as otherwise provided in Article XVII of the Plan in the event there is no Beneficiary) after the Determination Date, but in all events except in the case of a delay allowed under Section 12, between January 1 and March 15 of the year following the end of the Performance Period (the "<u>Payment Period</u>"), except as otherwise provided in Section 5(e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Limits on Obligations</u>. No interest shall accrue or otherwise be due in the event the Company delays the payment of the Final Cash Award beyond the applicable payment date for administrative reasons or to comply with applicable law. Any delay shall be in accordance with the requirements of Section 12. However, the Company shall not be liable to the Participant or any successor in interest for damages relating to any delays in paying the cash to the Participant or any successor in interest, or any mistakes or errors in the delivery or payment of cash amounts payable under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.**<u>Reorganization of Company and Subsidiaries</u>**. The existence of this Agreement shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Cash Award or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether o similar character or otherwise.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.**<u>Withholding of Taxes</u>**. The Participant may owe federal, state, and local taxes in connection with the Award (the "<u>Taxes</u>"). Subject to Section 12, the Company shall withhold at the statutory minimum rates unless the Participant has elected prior to the payment date to have a higher amount (up to the maximum allowed by law) withheld. The withholding of Taxes shall be mandatorily satisfied by withholding from the payment of the Final Cash Award an amount equal to the amount required to be withheld for the Taxes. The Participant's acceptance of the Award constitutes the Participant's acknowledgment that the Company will (unless otherwise properly elected by the Participant pursuant to the terms of this Section 8) withhold on the Participant's behalf an amount from the Final Cash Award sufficient to satisfy the Taxes. The obligations of the Company under this Agreement will be conditional on such payment of the Taxes by the Participant. Notwithstanding anything to the contrary contained in this Section 8, Section 12, or otherwise, the Company (i) makes no representations or undertakings regarding the treatment of Taxes in connection with any aspect of this Award, and (ii) does not commit to structure the terms of the Award to reduce or eliminate the Participant's liability for Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.**<u>Reservation of Rights; Agreement and Cash Award are Revocable</u>**. Notwithstanding anything herein to the contrary, **<u>this Agreement and the Cash Award may be revoked or cancelled at any time prior to the end of the Performance Period in the Company's sole discretion.</u>** For the avoidance of doubt, the Company, in its sole discretion, may revoke or cancel this Agreement and the Cash Award at any time prior to the end of the Performance Period (except in anticipation of a Change in Control), and the Participant has no right or claim for payment hereunder until the end of the Performance Period unless otherwise specified by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.**<u>Clawback</u>**. The Cash Award and the compensation paid pursuant to the Award shall be subject to clawback by the Company as may be required by applicable law, government regulations, or stock exchange listing requirement, clawback provision set forth in the Plan and/or any other clawback procedure of the Company (including, without limitation and for the avoidance of doubt, any Company clawback policy), as amended from time to time, and whether approved before or after the Award Date, and on such basis as the Committee determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.**<u>No Guarantee of Continued Employment</u>**. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to terminate the employment of the Participant at any time and for any reason whatsoever, with or without Cause, subject to the applicable provisions of, if any, the Participant's employment agreement with the Company or any Subsidiary that employs the Participant or agreement provided by the Company or any Subsidiary to the Participant that employs the Participant.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.**<u>No Guarantee of Tax Consequences</u>**. The intent of the parties is that the Cash Award under this Agreement comply with Section 409A of the Code, and the applicable regulations and guidance issued thereunder ("<u>Section 409A</u>"), to the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement and the Plan shall be interpreted and administered to be in compliance therewith. To the extent the Cash Award is exempt from Section 409A, nothing in this Section 12 shall require the Cash Award to meet the requirements of Section 409A. To the extent the Cash Award is subject to Section 409A, the Plan and this Agreement are intended to avoid the adverse tax consequences of Section 409A and shall be interpreted and administered accordingly. The provisions of Article XXII of the Plan, including the definitions provided thereunder and the six-month delay, are hereby incorporated by reference into this Agreement. For purposes of the timing of any payments under this Agreement which are subject to Section 409A, all references to "termination of employment," "Retire," "Retirement" or similar terms shall mean "separation from service" under Section 409A. A separation from service shall occur at the time required under Section 409A. Each payment hereunder shall be treated as a separate payment under Section 409A. When, if ever, a payment specifies a payment period with reference to a number of days (e.g., "payment shall be made within thirty (30) days following the date of termination"), the actual date of payment within the specified period shall be within the sole discretion of the Company or, if within the control of the Participant and payable over two calendar years, shall always be paid in the later calendar year. To the extent any provision of the Plan or Agreement is subject to and does not comply with Section 409A, such provision shall be interpreted and/or amended to comply with Section 409A, to the extent allowed under Section 409A. The Company makes no representation or warranty regarding, and shall not be responsible for, any excise tax imposed under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.**<u>Banking Regulatory Provision</u>**. The Cash Award and this Agreement shall be subject to any condition, limitation or prohibition under any financial institution regulatory policy or rule to which the Company or any Subsidiary thereof is subject.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.**<u>Entire Agreement</u>**. This Agreement, together with the Grant Details page and the Plan, constitutes and contains the entire agreement between the parties with respect to the subject matter hereof and supersedes any prior or contemporaneous oral or written agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.**<u>Severability</u>**. In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.**<u>Governing Law</u>**. This Agreement shall be construed in accordance with the laws of the State of Arkansas to the extent federal law does not supersede and preempt Arkansas law.

*[Signature Page Follows.]*

------

***To evidence its grant of the Award, the Company has signed this Agreement as of the Award Date. The Participant shall be deemed to have accepted and agreed to this Agreement on the Award Date unless written notice is provided of the rejection of this Agreement to the Company's HR administrator, Jason Faulkner – jason.faulkner@simmonsbank.com, no later than five (5) business days following the Award Date. If timely rejected, then this Agreement shall be cancelled <u>ab initio</u>.***

---

| | |
|:---|:---|
| **SIMMONS FIRST NATIONAL CORPORATION** | **SIMMONS FIRST NATIONAL CORPORATION** |
|  | /s/ C. Daniel Hobbs |
| By: | C. Daniel Hobbs |
| Title: | Chief Financial Officer |

---

## Exhibit 15.1

Exhibit 15.1

**Awareness of Independent Registered** 

**Public Accounting Firm**

We acknowledge the incorporation by reference in the Registration Statement on Form S-3ASR (Registration No. 333-279502) and the Registration Statements on Form S-8 (Registration Nos. 333-134240, 333-134241, 333-134276, 333-134301, 333-134356, 333-138629, 333-186253, 333-186254, 333-197708, 333-206160, 333-234166, 333-239309, 333-271417 and 333-281746) of Simmons First National Corporation (the "Company") of our report dated May 6, 2026, included with the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. Pursuant to Rule 436(c) under the S*ecurities Act of 1933* (the "Act"), this report should not be considered part of the registration statement prepared or certified by us within the meaning of Sections 7 and 11 of the Act.

---

| |
|:---|
| **Forvis Mazars, LLP** |
| /s/ Forvis Mazars, LLP |

---

Little Rock, Arkansas

May 6, 2026

## Exhibit 31.1

Exhibit 31.1

CERTIFICATION

I, James M. Brogdon, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Simmons First National Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 6, 2026

---

| |
|:---|
| /s/ James M. Brogdon |
| James M. Brogdon |
| President and Chief Executive Officer |
| (Principal Executive Officer) |

---

## Exhibit 31.2

Exhibit 31.2

CERTIFICATION

I, C. Daniel Hobbs, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Simmons First National Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 6, 2026

---

| |
|:---|
| /s/ C. Daniel Hobbs |
| C. Daniel Hobbs |
| Executive Vice President and Chief Financial Officer |
| (Principal Financial Officer) |

---

## Exhibit 31.3

Exhibit 31.3

CERTIFICATION

I, David W. Garner, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of Simmons First National Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 6, 2026

---

| |
|:---|
| /s/ David W. Garner |
| David W. Garner |
| Executive Vice President and Chief Accounting Officer |
| (Principal Accounting Officer) |

---

## Exhibit 32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Simmons First National Corporation (the "Company"), on Form 10-Q for the period ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, James M. Brogdon, President and Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 6, 2026

---

| |
|:---|
| /s/ James M. Brogdon |
| James M. Brogdon |
| President and Chief Executive Officer |
| (Principal Executive Officer) |

---

## Exhibit 32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Simmons First National Corporation (the "Company"), on Form 10-Q for the period ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, C. Daniel Hobbs, Executive Vice President and Chief Financial Officer of the Company, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 6, 2026

---

| |
|:---|
| /s/ C. Daniel Hobbs |
| C. Daniel Hobbs |
| Executive Vice President and Chief Financial Officer |
| (Principal Financial Officer) |

---

## Exhibit 32.3

Exhibit 32.3

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Simmons First National Corporation (the "Company"), on Form 10-Q for the period ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, David W. Garner, Executive Vice President and Chief Accounting Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 6, 2026

---

| |
|:---|
| /s/ David W. Garner |
| David W. Garner |
| Executive Vice President and Chief Accounting Officer |
| (Principal Accounting Officer) |

---

<br>