Simmons First Ntl Q2 2026 net income $66.7M
Simmons First National Corporation reported second quarter 2026 net income of $66.7 million, or $0.46 per share, with adjusted EPS of $0.50. Total revenue increased to $248.6 million, driven by net interest income of $200.6 million. Committed loan production reached $1.8 billion, the highest in nearly four years. Management projects low to mid-single digit loan growth for the year and maintains a conservative credit outlook with net charge-offs expected to remain below 25 basis points. The company repurchased 0.7 million shares during the quarter.
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Simmons First National Corporation reported second quarter 2026 net income of $66.7 million and diluted earnings per share of $0.46. On an adjusted basis, diluted EPS for the quarter was $0.50. Total revenue for the quarter was $248.6 million, up from $241.4 million in the first quarter of 2026 and $214.2 million in the second quarter of 2025.
Jay Brogdon, Simmons' President and CEO, highlighted that the company delivered continued expansion in returns, reflecting revenue growth coupled with disciplined expense control. He noted that committed loan production reached $1.8 billion, its highest quarterly level in almost four years. Management stated they are comfortable at the top end of their net interest income growth guidance of 9-11% for the year and expect to beat their noninterest expense guidance of 2-3% growth.
Key Financial Highlights
The following table summarizes key financial metrics for the second quarter of 2026 compared to the prior quarter and year-ago period:
| Metric: | 2Q26 | 1Q26 | 2Q25 |
|---|---|---|---|
| Net Income ($ millions): | $66.7 | $68.5 | $54.8 |
| Adjusted Net Income ($ millions): | $72.2 | $68.6 | $56.1 |
| Diluted EPS: | $0.46 | $0.47 | $0.43 |
| Adjusted Diluted EPS: | $0.50 | $0.47 | $0.44 |
| Total Revenue ($ millions): | $248.6 | $241.4 | $214.2 |
| PPNR ($ millions): | $100.8 | $100.7 | $75.6 |
| Net Interest Margin (FTE): | 3.84% | 3.84% | 3.06% |
| Efficiency Ratio: | 58.72% | 57.56% | 62.82% |
| Adjusted Efficiency Ratio: | 54.26% | 56.16% | 60.52% |
| Return on Average Assets: | 1.09% | 1.13% | 0.82% |
| Adjusted ROAA: | 1.17% | 1.13% | 0.84% |
| Return on Average Common Equity: | 7.69% | 8.01% | 6.20% |
| Adjusted ROTCE: | 14.37% | 13.91% | 10.97% |
| Cash Dividend Declared (per share): | $0.2150 | $0.2150 | $0.2125 |
Balance Sheet and Asset Quality
Total loans at the end of the second quarter of 2026 were $18.1 billion, up $129.5 million from the first quarter of 2026. The commercial loan pipeline totaled $1.4 billion. Noninterest bearing deposits increased $60.8 million to $4.4 billion. Provision for credit losses on loans totaled $17.4 million, exceeding net charge-offs by $8.3 million. Net charge-offs were 20 basis points, and management maintains a conservative outlook for net charge-offs to remain below 25 basis points for the year.
The following table highlights key balance sheet and asset quality metrics:
| Metric: | 2Q26 | 1Q26 | 2Q25 |
|---|---|---|---|
| Total Loans ($ millions): | $18,062 | $17,933 | $17,111 |
| Total Deposits ($ millions): | $19,728 | $20,203 | $21,825 |
| Total Assets ($ millions): | $24,777 | $24,693 | $26,694 |
| Total Shareholders' Equity ($ millions): | $3,482 | $3,438 | $3,549 |
| Unfunded Loan Commitments ($ millions): | $4,384 | $4,068 | $3,947 |
| Allowance for Credit Losses to Total Loans: | 1.32% | 1.28% | 1.48% |
| Net Charge-Off Ratio (annualized): | 0.20% | 0.21% | 0.25% |
| Nonperforming Loans ($ millions): | $166.0 | $141.9 | $157.2 |
| Nonperforming Assets to Total Assets: | 0.72% | 0.63% | 0.62% |
| Book Value per Share: | $24.11 | $23.70 | $28.17 |
| Tangible Book Value per Share: | $14.42 | $14.03 | $16.97 |
Capital Position and Outlook
Total stockholders' equity at the end of the second quarter of 2026 was $3.5 billion. The company repurchased approximately 0.7 million shares of its Class A common stock at an average price of $21.52 under its 2026 stock repurchase program. Remaining authorization under the 2026 Program as of June 30, 2026, was approximately $161 million. Management indicated a focus on prioritizing organic growth investments while remaining opportunistic with share repurchases.
How will Simmons First National balance the anticipated organic growth investments with the remaining $161 million share repurchase authorization for the remainder of 2026?
Given the significant rise in nonperforming assets to 0.72%, what specific factors drove this increase and will it lead to a revision of the conservative credit loss guidance?
With net interest margin holding steady at 3.84%, does management anticipate pressure on margins in the second half of the year given the current interest rate environment?
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