Here are 1-3 brief analogies for Simmons First National (SFNC):

• A regional Bank of America, focused on the South Central US.
• Like a smaller, South Central US version of JPMorgan Chase, offering a full range of banking services.
• A full-service regional bank for the South Central US, similar to a localized Wells Fargo.

• Deposit Accounts: Offers various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
• Commercial Loans: Provides financing solutions for businesses, including commercial real estate, equipment, and lines of credit.
• Consumer Loans: Extends credit to individuals for purposes such as home mortgages, auto purchases, and personal needs.
• Wealth Management & Trust Services: Delivers investment management, financial planning, and fiduciary services to grow and protect clients' assets.
• Treasury Management Services: Offers businesses solutions for efficient cash flow management, payment processing, and fraud prevention.
• Credit Cards: Provides credit card options for both consumer and business use, facilitating purchases and offering revolving credit.

Simmons First National (SFNC), as a bank holding company, serves a diverse customer base rather than a few named major corporate clients. Therefore, it sells primarily to individuals and a broad range of businesses, which can be categorized as follows:

1. Individuals/Consumers: This category includes individual customers who utilize Simmons Bank for personal financial services such as checking accounts, savings accounts, mortgages, home equity loans, auto loans, personal loans, credit cards, and wealth management services.
2. Small to Medium-sized Businesses (SMBs): This segment comprises local and regional businesses within Simmons Bank's operating footprint (Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas). These customers use services like business checking and savings accounts, lines of credit, term loans, commercial real estate loans, equipment financing, and treasury management solutions.
3. Commercial and Corporate Clients: This category encompasses larger businesses, corporations, and institutions that require more extensive and complex banking services. This can include syndicated loans, larger commercial real estate financing, specialized industry lending, and advanced treasury management services.

George A. Makris, Jr., Chairman and Chief Executive Officer

Mr. Makris has served as Chairman and Chief Executive Officer of Simmons First National Corporation since 2014, having joined the company in January 2013. Prior to his tenure at Simmons, he was the President of M. K. Distributors Inc. from 1985 to 2013, having started there in 1980. He also held positions as a Director at Worthen National Bank from 1985 to 1996 and as its Chairman from 1994 to 1996; Worthen National Bank later became part of Bank of America Corp. Mr. Makris is recognized for leading Simmons' growth and geographic expansion, often through strategic acquisitions. He brought a non-traditional, growth-focused approach to banking, drawing lessons from his experience in the wholesale distribution business.

C. Daniel Hobbs, Executive Vice President and Chief Financial Officer

Mr. Hobbs assumed the role of Executive Vice President and Chief Financial Officer for Simmons First National Corporation effective December 4, 2023. Before joining Simmons, he served as an Executive Vice President and Head of Finance for a Southeastern Bank with assets exceeding $150 billion. His previous experience also includes serving as the Director for Financial Planning and Decision Support of Sak, and he held various other finance-related positions covering operations and technology, digital, marketing, procurement, and corporate real estate.

Jay Brogdon, President

Mr. Brogdon has served as President of Simmons First National Corporation and Simmons Bank since January 2023, with oversight of all revenue lines, finance, operations, information technology, and corporate strategy. He is slated to assume the additional role of CEO effective January 1, 2026. Before his appointment as President, Mr. Brogdon joined Simmons in 2021 as Chief Financial Officer. Prior to Simmons, he spent over 13 years at Stephens Inc., where he was a managing director in the investment banking division, and also worked for four years at Deloitte.

Chris Van Steenberg, Executive Vice President and Chief Operating Officer

Mr. Van Steenberg joined Simmons First National Corporation as Chief Operating Officer effective November 12, 2024. He brings more than 25 years of experience in the financial services industry. Previously, he held the position of Executive Vice President and Head of Finance for Regions Financial Corp., and also served as Chief Financial Officer for their Consumer Division. Most recently, he was the Executive Vice President, Chief Digital and Product Officer for a Mid-South bank with over $80 billion in assets.

David W. Garner, Executive Vice President and Chief Accounting Officer

Mr. Garner has held the position of Executive Vice President and Chief Accounting Officer for Simmons First National Corporation since December 2019. In this role, he also serves as the Chief Accounting Officer of Simmons Bank. Prior to his current role, he served as an Executive Vice President and Controller at the company.

• The continued rise and expansion of Fintech challenger banks and neobanks. These digital-first institutions leverage technology to offer lower fees, higher interest rates on deposits, and superior digital user experiences. They directly compete for Simmons First National's core deposit base and lending customers, particularly among younger, digitally-native generations, by providing more convenient and often cheaper alternatives for basic banking services.
• The increasing foray of Big Tech companies (e.g., Apple, Google, Amazon) into core financial services. These companies possess massive customer bases, immense data, and strong brand loyalty. Their expansion into offerings like high-yield savings accounts, payment solutions, and potentially lending, often integrated seamlessly into their existing ecosystems, poses a significant competitive threat by drawing deposits and transaction volumes away from traditional regional banks.

Simmons First National Corporation (SFNC) primarily offers a range of banking and financial services, including consumer, real estate, and commercial loans, alongside checking, savings, and time deposit accounts. The company's operations are concentrated in the U.S. states of Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas.

Addressable Market Sizes for Main Products/Services:

• Commercial Banking:
  • United States: The commercial banking market is estimated at USD 732.5 billion in 2025.
  • Arkansas: The commercial banking industry market size is USD 13.0 billion in 2025.
  • Missouri: The commercial banking industry market size is USD 29.4 billion in 2025.
  • Oklahoma: The commercial banking industry market size is USD 13.4 billion in 2025.
  • Tennessee: The commercial banking industry market size is USD 23.0 billion in 2025.
  • Texas: The commercial banking industry market size is USD 108.7 billion in 2025.
  • Kansas: Market size unable to be specifically identified in the search results.
• Consumer Banking (including deposits and various consumer loans, excluding mortgages):
  • United States: The retail banking market (which encompasses consumer banking services and deposits) stands at USD 0.87 trillion in 2025. State-specific market sizes for the full scope of consumer banking were not available in the search results.
• Real Estate/Home Loans (Mortgages):
  • United States: The home loan market is USD 2.29 trillion in 2025. The purchase-mortgage market in the U.S. is valued at USD 1,145.4 billion. State-specific market sizes for real estate/home loans were not available in the search results.

Simmons First National (SFNC) is expected to drive future revenue growth over the next two to three years through several key strategies:

1. Net Interest Margin (NIM) Expansion: The company anticipates continued improvement in its net interest margin, primarily fueled by the repricing of approximately $3 billion in fixed-rate loans over the next 24 months, which were originated in a lower interest rate environment. This is complemented by a strategic shift towards variable-rate loan origination and ongoing efforts to optimize its deposit mix by prioritizing core, low-cost customer deposits to reduce funding costs.
2. Disciplined Loan Growth: Simmons First National expects to achieve moderate loan growth by leveraging its current pipeline and ongoing lending activities. The company emphasizes maintaining a disciplined approach within a competitive lending environment to ensure sustainable and profitable expansion.
3. Expansion into High-Growth Markets and Digital Banking: A strategic focus for Simmons First National is to expand its geographical footprint, particularly in economically robust regions. Concurrently, the company plans to invest in enhancing its digital banking platforms and offering innovative online and mobile services to attract tech-savvy customers and boost operational efficiency.
4. Strategic Acquisitions and Capitalizing on Industry Consolidation: The company aims to drive future business expansion by actively pursuing strategic acquisitions and capitalizing on industry dislocation in key markets. These initiatives are intended to improve Simmons First National's competitive standing and diversify its revenue streams.

Share Repurchases

• In January 2024, Simmons First National authorized a new stock repurchase program allowing for the repurchase of up to $175 million of Class A common stock, though no shares were repurchased under this program in 2024.
• A stock repurchase program was also authorized on January 27, 2022, enabling the company to repurchase up to $175 million of its Class A common stock.
• Over the last three to five years, significant repurchases included approximately $77.95 million in Q4 2021, $50.05 million in Q2 2022, and $19.97 million in Q3 2023.

Share Issuance

• In the third quarter of 2025, Simmons First National issued 18,653,000 common shares, raising $327.4 million to strengthen its capital and funding position.
• The company filed a shelf registration in 2024 to provide flexibility for future capital raising activities.

Outbound Investments

• In October 2021, Simmons First National completed the acquisitions of Landmark Community Bank and Triumph Bancshares, Inc., which included its wholly-owned bank subsidiary, Triumph Bank.