Edgar Filing: SIMMONS FIRST NATIONAL CORP

a5451116.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Exchange Act of 1934

Date of Report (Date of earliest event reported) July 19, 2007

SIMMONS FIRST NATIONAL CORPORATION

(Exact name of registrant as specified in its charter)

Arkansas	0-6253	71-0407808
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

501 Main Street, Pine Bluff, Arkansas	71601
(Address of principal executive offices)	(Zip Code)

(870) 541-1000

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

r Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

r Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

r Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

r Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM: 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The following is the text of a press release issued by the registrant at 8:15 A.M. Central Time on July 19, 2007.

SIMMONS FIRST ANNOUNCES SECOND QUARTER EARNINGS

Pine Bluff, AR – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced second quarter earnings for the period ended June 30, 2007. Net income for the second quarter was $7.0 million, or $0.49 diluted earnings per share, compared to $0.51 per share for the same period in 2006. For the six-month period ended June 30, 2007, net income was $13.7 million, or $0.95 diluted earnings per share, compared to $0.92 per share for the same period in 2006, an increase of $0.03, or 3.3%.

“Considering the competitive challenges and our de novo expansion strategy, we are relatively pleased with our second quarter and year-to-date earnings results,” commented J. Thomas May, Chairman and Chief Executive Officer. “In particular, we were pleased to see an improvement in our net interest margin on a linked quarter basis, good expense control, and a continuation of excellent asset quality at each of our eight community banks.”

The Company’s net interest income for the second quarter of 2007 increased 2.7% to $22.8 million compared to $22.2 million for 2006. Net interest margin was 3.96% for the second quarter of 2007, an increase of eight basis points from the previous quarter.

The Company’s loan portfolio totaled $1.82 billion at June 30, 2007 compared to $1.74 billion at June 30, 2006, an increase of 4.8%. The growth was primarily attributable to an increase of 8.6% in real estate loans along with a 5.9% increase in the credit card portfolio. “Credit card growth has improved significantly due to the tremendous response we have received regarding Simmons First credit card products,” stated Mr. May. “We were recognized in the July issue of Money Magazine as having two of the best credit cards in America. Our Classic card was ranked #3 in the category of ‘no fee cards with the lowest rates,’ while our fixed rate Platinum card was ranked #1 in the category ‘premium cards with the lowest rate’.”

Asset quality remained strong with the allowance for loan losses as a percent of total loans at 1.38% as of June 30, 2007. Non-performing loans equaled 0.58% of total loans, while the allowance for loan losses equaled 237% of non-performing loans. The Company’s annualized net charge-offs to total loans for the second quarter of 2007 was 0.17%. Excluding credit cards, the annualized net charge-offs to total loans for the second quarter was 0.10%.

Total assets for the Company were $2.7 billion and deposits were $2.2 billion at June 30, 2007. Stockholders’ equity increased 6.5% to $263 million at June 30, 2007 compared to $247 million at June 30, 2006. Book value per share increased 7.6% to $18.73 at June 30, 2007 compared to $17.41 at June 30, 2006.

Simmons First plans to open new financial centers in Paragould, North Little Rock – McCain and North Little Rock – Sherwood during 2007. “We are excited about our initial entry into the new markets of North Little Rock in August and Paragould during the fourth quarter,” said May. In addition, in early 2008, a new financial center will be opened in Little Rock – Midtown (near War Memorial Stadium and UAMS) and a new regional headquarters in Rogers for the Northwest Arkansas affiliate.

Simmons First National Corporation is an Arkansas based financial holding company with eight community banks in Pine Bluff, Lake Village, Jonesboro, Rogers, Searcy, Russellville, El Dorado and Hot Springs, Arkansas. The Company’s eight banks conduct financial operations from 86 offices, of which 82 are financial centers, in 48 communities.

CONFERENCE CALL

Management will conduct a conference call to review this information at 3:00 p.m. Central Time on Thursday, July 19, 2007. Interested parties can listen to this call by calling 1-800-854-4175 (United States and Canada only) and asking for the Simmons First National Corporation conference call. A recorded playback of the call will be available the next morning by calling 1-800-642-1687. The passcode for this playback is 5019662 and the recording will be available through the end of business July 31, 2007. In addition, the call will be available live or in recorded version on the Company’s website at www.simmonsfirst.com under the “webcast” icon.

GENERAL

Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Simmons First National Corporation’s financial results is included in its Form 10-K filing with the Securities and Exchange Commission.

####

FOR MORE INFORMATION CONTACT:

DAVID W. GARNER

Senior Vice President and Investor Relations Officer

Simmons First National Corporation

(870) 541-1000

Simmons First National Corporation													SFNC
Consolidated End of Period Balance Sheets
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	71,915		$	71,513		$	83,452		$	77,724		$	89,275
Interest bearing balances due from banks		45,084			43,614			45,829			19,599			26,265
Federal funds sold		2,600			60,270			21,870			49,340			22,570
Cash and cash equivalents		119,599			175,397			151,151			146,663			138,110

Investment securities - held-to-maturity		178,841			181,901			179,944			172,944			164,612
Investment securities - available-for-sale		346,740			338,222			347,182			358,561			363,217
Mortgage loans held for sale		9,928			8,718			7,091			6,591			13,248
Assets held in trading accounts		4,496			10,464			4,487			4,574			4,606

Loans		1,821,430			1,798,234			1,783,495			1,788,517			1,738,628
Allowance for loan losses		(25,197	)		(25,151	)		(25,385	)		(25,879	)		(26,174	)
Net loans		1,796,233			1,773,083			1,758,110			1,762,638			1,712,454

Premises and equipment		70,873			69,443			67,926			66,769			65,686
Foreclosed assets held for sale, net		1,484			2,321			1,940			1,413			1,740
Interest receivable		21,868			21,312			21,974			21,953			18,571
Bank owned life insurance		36,881			36,498			36,133			35,708			33,985
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,786			3,993			4,199			4,406			4,613
Other assets		9,084			9,739			10,671			14,117			15,809

TOTAL ASSETS	$	2,660,418		$	2,691,696		$	2,651,413		$	2,656,942		$	2,597,256

LIABILITIES
Non-interest bearing transaction accounts	$	308,047		$	316,603		$	305,327		$	302,700		$	330,946
Interest bearing transaction accounts and savings deposits		763,017			753,110			738,763			745,649			761,346
Time deposits less than $100,000		686,456			686,650			681,131			664,105			623,609
Time deposits greater than $100,000		422,580			450,558			450,310			436,022			394,489
Total deposits		2,180,100			2,206,921			2,175,531			2,148,476			2,110,390
Federal funds purchased and securities
sold under agreements to repurchase		97,947			108,661			105,036			85,535			89,684
Short-term debt		11,072			5,009			6,114			61,850			45,054
Long-term debt - parent company		2,000			2,000			2,000			2,000			4,000
Long-term FHLB debt - affiliate banks		49,669			50,652			50,381			49,243			48,143
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		25,395			25,353			22,405			24,316			21,876
TOTAL LIABILITIES		2,397,113			2,429,526			2,392,397			2,402,350			2,350,077

STOCKHOLDERS' EQUITY
Capital stock		141			141			142			142			142
Surplus		44,773			46,890			48,678			49,068			49,607
Undivided profits		220,981			216,483			212,394			208,200			203,165
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(2,590	)		(1,344	)		(2,198	)		(2,818	)		(5,735	)
TOTAL STOCKHOLDERS' EQUITY		263,305			262,170			259,016			254,592			247,179

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,660,418		$	2,691,696		$	2,651,413		$	2,656,942		$	2,597,256


Page 1

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	72,066		$	75,172		$	80,670		$	78,708		$	77,064
Interest bearing balances due from banks		22,636			37,957			24,237			16,851			21,929
Federal funds sold		25,263			51,383			25,554			22,966			16,138
Cash and cash equivalents		119,965			164,512			130,461			118,525			115,131

Investment securities - held-to-maturity		180,486			179,479			174,132			167,182			157,252
Investment securities - available-for-sale		350,567			349,887			355,196			360,584			373,434
Mortgage loans held for sale		9,241			6,362			7,299			8,368			8,426
Assets held in trading accounts		4,567			4,746			4,555			4,598			4,575

Loans		1,802,917			1,782,125			1,779,528			1,769,131			1,716,396
Allowance for loan losses		(25,791	)		(25,824	)		(26,168	)		(26,255	)		(26,997	)
Net loans		1,777,126			1,756,301			1,753,360			1,742,876			1,689,399

Premises and equipment		69,967			68,871			67,438			66,044			65,485
Foreclosed assets held for sale, net		1,934			2,121			1,488			1,525			1,664
Interest receivable		22,086			21,464			22,681			20,922			18,092
Bank owned life insurance		36,691			36,300			35,916			35,226			33,778
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,907			4,111			4,317			4,527			4,733
Other assets		9,063			9,292			10,995			13,215			12,688

TOTAL ASSETS	$	2,646,205		$	2,664,051		$	2,628,443		$	2,604,197		$	2,545,262

LIABILITIES
Non-interest bearing transaction accounts	$	309,753		$	306,020		$	305,447		$	302,490		$	311,102
Interest bearing transaction accounts and savings deposits		739,972			731,214			728,085			722,920			751,262
Time deposits less than $100,000		688,493			687,109			678,399			658,182			624,395
Time deposits greater than $100,000		435,405			451,004			441,505			416,693			394,492
Total deposits		2,173,623			2,175,347			2,153,436			2,100,285			2,081,251
Federal funds purchased and securities
sold under agreements to repurchase		99,808			118,011			102,109			93,670			96,041
Short-term debt		3,088			4,031			8,594			54,119			15,804
Long-term debt		82,177			82,185			82,358			80,826			82,957
Accrued interest and other liabilities		22,465			22,002			23,157			22,804			20,486
TOTAL LIABILITIES		2,381,161			2,401,576			2,369,654			2,351,704			2,296,539

TOTAL STOCKHOLDERS' EQUITY		265,044			262,475			258,789			252,493			248,723

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,646,205		$	2,664,051		$	2,628,443		$	2,604,197		$	2,545,262

Page 2

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2007		2007		2006		2006		2006
(in thousands, except per share data)
INTEREST INCOME
Loans	$	35,051	$	34,095	$	34,543	$	33,924	$	31,694
Federal funds sold		395		701		365		325		192
Investment securities		5,889		5,721		5,447		5,183		4,978
Mortgage loans held for sale, net of unrealized gains (losses)		133		104		107		141		128
Assets held in trading accounts		35		18		13		14		19
Interest bearing balances due from banks		297		510		287		229		259
TOTAL INTEREST INCOME		41,800		41,149		40,762		39,816		37,270
INTEREST EXPENSE
Time deposits		13,144		13,015		12,755		11,381		9,732
Other deposits		3,324		3,179		3,182		3,023		2,909
Federal funds purchased and securities
sold under agreements to repurchase		1,292		1,456		1,295		1,152		1,064
Short-term debt		49		70		145		761		225
Long-term debt		1,198		1,198		1,102		1,122		1,148
TOTAL INTEREST EXPENSE		19,007		18,918		18,479		17,439		15,078
NET INTEREST INCOME		22,793		22,231		22,283		22,377		22,192
Provision for loan losses		831		751		663		602		789
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		21,962		21,480		21,620		21,775		21,403
NON-INTEREST INCOME
Trust income		1,474		1,637		1,517		1,435		1,293
Service charges on deposit accounts		3,656		3,497		3,850		3,973		4,209
Other service charges and fees		692		808		715		596		592
Income on sale of mortgage loans, net of commissions		727		679		655		763		755
Income on investment banking, net of commissions		153		150		89		55		90
Credit card fees		3,025		2,649		2,830		2,755		2,699
Premiums on sale of student loans		741		882		263		413		659
Bank owned life insurance income		359		364		425		382		415
Other income		510		788		449		654		804
TOTAL NON-INTEREST INCOME		11,337		11,454		10,793		11,026		11,516
NON-INTEREST EXPENSE
Salaries and employee benefits		13,903		13,725		13,173		13,298		13,466
Occupancy expense, net		1,624		1,650		1,712		1,612		1,541
Furniture and equipment expense		1,507		1,466		1,437		1,407		1,456
Loss on foreclosed assets		36		24		31		32		40
Deposit insurance		68		67		66		64		71
Other operating expenses		5,873		6,282		6,088		5,722		5,727
TOTAL NON-INTEREST EXPENSE		23,011		23,214		22,507		22,135		22,301
NET INCOME BEFORE INCOME TAXES		10,288		9,720		9,906		10,666		10,618
Provision for income taxes		3,257		3,083		3,156		3,219		3,322
NET INCOME	$	7,031	$	6,637	$	6,750	$	7,447	$	7,296
BASIC EARNINGS PER SHARE	$	0.50	$	0.47	$	0.47	$	0.53	$	0.51
DILUTED EARNINGS PER SHARE	$	0.49	$	0.46	$	0.47	$	0.51	$	0.51

Page 3

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Year-to-Date
For the Quarters Ended	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
(Unaudited)	2007		2007		2006		2006		2006
(in thousands, except per share data)
INTEREST INCOME
Loans	$	69,147	$	34,095	$	130,248	$	95,705	$	61,781
Federal funds sold		1,096		701		1,057		692		367
Investment securities		11,610		5,721		20,438		14,991		9,808
Mortgage loans held for sale, net of unrealized gains (losses)		236		104		476		369		228
Assets held in trading accounts		53		18		71		58		44
Interest bearing balances due from banks		807		510		1,072		785		556
TOTAL INTEREST INCOME		82,949		41,149		153,362		112,600		72,784
INTEREST EXPENSE
Time deposits		26,161		13,015		42,592		29,837		18,456
Other deposits		6,503		3,179		11,658		8,476		5,453
Federal funds purchased and securities
sold under agreements to repurchase		2,748		1,456		4,615		3,320		2,168
Short-term debt		118		70		1,227		1,082		321
Long-term debt		2,395		1,198		4,466		3,364		2,242
TOTAL INTEREST EXPENSE		37,925		18,918		64,558		46,079		28,640
NET INTEREST INCOME		45,024		22,231		88,804		66,521		44,144
Provision for loan losses		1,582		751		3,762		3,099		2,497
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		43,442		21,480		85,042		63,422		41,647
NON-INTEREST INCOME
Trust income		3,111		1,637		5,612		4,095		2,660
Service charges on deposit accounts		7,153		3,497		15,795		11,945		7,972
Other service charges and fees		1,500		808		2,561		1,846		1,250
Income on sale of mortgage loans, net of commissions		1,407		679		2,849		2,194		1,431
Income on investment banking, net of commissions		303		150		341		252		197
Credit card fees		5,674		2,649		10,742		7,912		5,157
Premiums on sale of student loans		1,623		882		2,071		1,808		1,395
Bank owned life insurance income		723		364		1,523		1,098		716
Other income		1,298		788		2,453		2,004		1,350
TOTAL NON-INTEREST INCOME		22,792		11,454		43,947		33,154		22,128
NON-INTEREST EXPENSE
Salaries and employee benefits		27,628		13,725		53,442		40,269		26,971
Occupancy expense, net		3,273		1,650		6,385		4,673		3,061
Furniture and equipment expense		2,973		1,466		5,718		4,281		2,874
Loss on foreclosed assets		59		24		136		105		73
Deposit insurance		135		67		270		204		140
Other operating expenses		12,158		6,282		23,117		17,029		11,307
TOTAL NON-INTEREST EXPENSE		46,226		23,214		89,068		66,561		44,426
NET INCOME BEFORE INCOME TAXES		20,008		9,720		39,921		30,015		19,349
Provision for income taxes		6,340		3,083		12,440		9,284		6,065
NET INCOME	$	13,668	$	6,637	$	27,481	$	20,731	$	13,284
BASIC EARNINGS PER SHARE	$	0.97	$	0.47	$	1.93	$	1.46	$	0.93
DILUTED EARNINGS PER SHARE	$	0.95	$	0.46	$	1.90	$	1.43	$	0.92

Page 4

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands)
Tier 1 capital
Stockholders' equity	$	263,305		$	262,170		$	259,016		$	254,592		$	247,179
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(64,144	)		(64,367	)		(64,334	)		(64,557	)		(64,781	)
Unrealized loss (gain) on AFS securities		2,590			1,344			2,198			2,818			5,735

Total Tier 1 capital		231,751			229,147			226,880			222,853			218,133

Tier 2 capital
Qualifying unrealized gain on AFS securities		187			129			167			177			173
Qualifying allowance for loan losses		23,565			23,237			22,953			23,103			22,359

Total Tier 2 capital		23,752			23,366			23,120			23,280			22,532

Total risk-based capital	$	255,503		$	252,513		$	250,000		$	246,133		$	240,665

Risk weighted assets	$	1,882,040		$	1,855,511		$	1,831,063		$	1,843,960		$	1,783,411

Adjusted average assets for leverage ratio	$	2,584,670		$	2,603,178		$	2,568,407		$	2,547,237		$	2,488,304

Ratios at end of quarter
Equity to assets		9.90	%		9.74	%		9.77	%		9.58	%		9.52	%
Tangible equity to tangible assets		7.56	%		7.47	%		7.42	%		7.21	%		6.96	%
Leverage ratio		8.97	%		8.80	%		8.83	%		8.75	%		8.77	%
Tier 1 capital		12.31	%		12.35	%		12.39	%		12.09	%		12.23	%
Total risk-based capital		13.58	%		13.61	%		13.65	%		13.35	%		13.49	%

Page 5

Simmons First National Corporation													SFNC
Consolidated Loans and Investments
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	140,327		$	133,511		$	143,359		$	133,607		$	132,464
Student loans		68,477			84,358			84,831			86,875			77,085
Other consumer		139,908			141,212			142,596			146,039			140,631
Real Estate
Construction		265,705			276,582			277,411			267,604			248,834
Single-family residential		372,029			366,222			364,453			364,657			348,782
Other commercial		540,042			536,421			512,404			494,512			487,288
Unearned income		(3	)		(3	)		(3	)		(4	)		(5	)
Commercial
Commercial		183,349			182,548			178,028			175,576			188,480
Agricultural		96,213			61,617			62,293			103,301			86,244
Financial institutions		5,351			5,080			4,766			576			16,152
Other		10,032			10,686			13,357			15,774			12,673

Total Loans	$	1,821,430		$	1,798,234		$	1,783,495		$	1,788,517		$	1,738,628

Investment Securities - End of Period
Held-to-Maturity
U.S. Treasury	$	1,500		$	-		$	-		$	1,001		$	1,002
U.S. Government agencies		44,000			54,998			54,998			53,000			42,000
Mortgage-backed securities		140			151			155			161			167
State and political subdivisions		130,846			124,415			122,472			116,481			116,770
Other securities		2,355			2,337			2,319			2,301			4,673
Total held-to-maturity		178,841			181,901			179,944			172,944			164,612
Available-for-Sale
U.S. Treasury		8,975			11,434			6,940			6,749			7,398
U.S. Government agencies		322,687			310,611			322,411			331,709			335,618
Mortgage-backed securities		2,793			2,948			2,956			3,095			3,074
State and political subdivisions		984			1,132			1,370			1,373			1,373
FHLB stock		5,206			5,090			5,504			7,674			7,693
Other securities		6,095			7,007			8,001			7,961			8,061
Total available-for-sale		346,740			338,222			347,182			358,561			363,217

Total investment securities	$	525,581		$	520,123		$	527,126		$	531,505		$	527,829

Fair Value - HTM investment securities	$	175,870		$	181,792		$	179,816		$	172,951		$	161,655

Investment Securities - QTD Average
Taxable securities	$	401,723		$	406,342		$	410,153		$	410,382		$	411,388
Tax exempt securities		129,330			123,024			119,175			117,384			119,298

Total investment securities - QTD average	$	531,053		$	529,366		$	529,328		$	527,766		$	530,686

Page 6

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	25,151		$	25,385		$	25,879		$	26,174		$	26,463

Loans charged off
Credit cards		625			735			600			661			600
Other consumer		304			425			395			352			223
Real estate		453			295			793			74			741
Commercial		111			219			209			717			182
Total loans charged off		1,493			1,674			1,997			1,804			1,746

Recoveries of loans previously charged off
Credit cards		272			261			242			291			271
Other consumer		152			105			173			147			156
Real estate		241			162			403			87			213
Commercial		43			161			22			382			28
Total recoveries		708			689			840			907			668
Net loans charged off		785			985			1,157			897			1,078
Provision for loan losses		831			751			663			602			789
Balance, end of quarter	$	25,197		$	25,151		$	25,385		$	25,879		$	26,174

Non-performing assets
Non-performing loans
Non-accrual loans
Real estate	$	7,237		$	5,561		$	6,916		$	7,674		$	6,266
Commercial		632			685			720			1,054			2,160
Consumer		1,652			1,492			1,322			1,089			1,130
Total nonaccrual loans		9,521			7,738			8,958			9,817			9,556
Loans past due 90 days or more		1,133			879			1,097			1,029			1,210
Total non-performing loans		10,654			8,617			10,055			10,846			10,766

Other non-performing assets
Foreclosed assets held for sale		1,484			2,321			1,940			1,413			1,740
Other non-performing assets		30			40			52			16			-
Total other non-performing assets		1,514			2,361			1,992			1,429			1,740

Total non-performing assets	$	12,168		$	10,978		$	12,047		$	12,275		$	12,506

Ratios
Allowance for loan losses to total loans		1.38	%		1.40	%		1.42	%		1.45	%		1.51	%
Allowance for loan losses to
non-performing loans		236.50	%		291.88	%		252.46	%		238.60	%		243.12	%
Allowance for loan losses to
non-performing assets		207.08	%		229.10	%		210.72	%		210.83	%		209.29	%
Non-performing assets ratio *		0.67	%		0.61	%		0.67	%		0.69	%		0.72	%
Non-performing loans to total loans		0.58	%		0.48	%		0.56	%		0.61	%		0.62	%
Non-performing assets to total assets		0.46	%		0.41	%		0.45	%		0.46	%		0.48	%
Annualized net charge offs to total loans		0.17	%		0.22	%		0.26	%		0.20	%		0.25	%
Annualized net charge offs to total loans
(excluding credit cards)		0.10	%		0.13	%		0.19	%		0.13	%		0.19	%

* Non-performing assets ratio = ( non-performing loans + foreclosed assets) / ( total loans + foreclosed assets)

Page 7

Simmons First National Corporation													SFNC
Consolidated - Net Interest Income Analysis
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006

ASSETS

Earning Assets
Interest bearing balances due from banks		5.26	%		5.45	%		4.70	%		5.39	%		4.74	%
Federal funds sold		6.27	%		5.53	%		5.67	%		5.61	%		4.77	%
Investment securities		5.04	%		4.95	%		4.62	%		4.43	%		4.31	%
Mortgage loans held for sale		5.77	%		6.63	%		5.82	%		6.69	%		6.09	%
Assets held in trading accounts		3.07	%		1.54	%		1.13	%		1.21	%		1.67	%
Loans		7.80	%		7.76	%		7.70	%		7.61	%		7.41	%
Total interest earning assets		7.14	%		7.06	%		6.96	%		6.86	%		6.65	%


LIABILITIES

Interest bearing liabilities
Interest bearing transaction and
savings accounts		1.80	%		1.76	%		1.73	%		1.66	%		1.55	%
Time deposits		4.69	%		4.64	%		4.52	%		4.20	%		3.83	%
Total interest bearing deposits		3.54	%		3.51	%		3.42	%		3.18	%		2.86	%
Federal funds purchased and securities
sold under agreement to repurchase		5.19	%		5.00	%		5.03	%		4.88	%		4.44	%
Short-term debt		6.36	%		7.04	%		6.69	%		5.58	%		5.71	%
Long-term debt		5.85	%		5.91	%		5.31	%		5.51	%		5.55	%
Total interest bearing liabilities		3.72	%		3.70	%		3.59	%		3.41	%		3.08	%

NET INTEREST MARGIN/SPREAD

Net interest spread		3.42	%		3.36	%		3.37	%		3.45	%		3.57	%
Net interest margin - quarter-to-date		3.96	%		3.88	%		3.86	%		3.91	%		4.01	%
Net interest margin - year-to-date		3.92	%		3.88	%		3.96	%		3.99	%		4.03	%

Page 8

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2007			2007			2006			2006			2006
(in thousands, except per share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.49		$	0.46		$	0.47		$	0.51		$	0.51
Operating earnings (excludes nonrecurring items)		7,031			6,637			6,750			7,447			7,296
Cash dividends declared per common share		0.18			0.18			0.18			0.17			0.17
Cash dividends declared - amount		2,533			2,548			2,555			2,413			2,418
Return on average stockholders' equity		10.64	%		10.25	%		10.35	%		11.70	%		11.77	%
Return on tangible equity		14.32	%		13.88	%		14.08	%		16.04	%		16.24	%
Return on average assets		1.07	%		1.01	%		1.02	%		1.13	%		1.15	%
Net interest margin (FTE)		3.96	%		3.88	%		3.86	%		3.91	%		4.01	%
FTE Adjustment - investments		785			741			720			707			718
FTE Adjustment - loans		72			85			85			89			86
Amortization of intangibles		207			207			207			207			209
Amortization of intangibles, net of taxes		130			130			130			130			132
Average shares outstanding		14,099,105			14,177,615			14,198,399			14,195,844			14,247,973
Average diluted shares outstanding		14,313,493			14,395,153			14,446,730			14,451,237			14,507,103
Shares repurchased		90,900			69,678			14,200			24,000			75,400
Average price of repurchased shares		27.38			28.62			31.15			27.93			26.74
Average earning assets		2,395,677			2,411,939			2,370,501			2,349,680			2,298,150
Average interest bearing liabilities		2,048,943			2,073,554			2,041,050			2,026,410			1,964,951

YEAR-TO-DATE
Diluted earnings per share	$	0.95		$	0.46		$	1.90		$	1.43		$	0.92
Operating earnings (excludes nonrecurring items)		13,668			6,637			27,481			20,731			13,284
Cash dividends declared per common share		0.36			0.18			0.68			0.50			0.33
Return on average stockholders' equity		10.45	%		10.25	%		10.93	%		11.13	%		10.83	%
Return on tangible equity		14.10	%		13.88	%		15.03	%		15.37	%		15.01	%
Return on average assets		1.04	%		1.01	%		1.07	%		1.08	%		1.06	%
Net interest margin (FTE)		3.92	%		3.88	%		3.96	%		3.99	%		4.03	%
FTE Adjustment - investments		1,526			741			2,840			2,120			1,413
FTE Adjustment - loans		157			85			345			260			171
Amortization of intangibles		414			207			830			623			416
Amortization of intangibles, net of taxes		260			130			522			392			262
Average shares outstanding		14,138,143			14,177,615			14,226,481			14,236,047			14,256,482
Average diluted shares outstanding		14,352,531			14,395,153			14,474,812			14,491,440			14,515,612
Average earning assets		2,403,809			2,411,939			2,324,078			2,308,604			2,288,068
Average interest bearing liabilities		2,061,248			2,073,554			1,993,903			1,978,189			1,954,077

END OF PERIOD
Book value per share	$	18.73		$	18.54		$	18.24		$	17.94		$	17.41
Tangible book value per share		14.15			13.97			13.68			13.36			12.81
Shares outstanding		14,059,631			14,139,631			14,196,855			14,188,008			14,199,100
Full-time equivalent employees		1,112			1,110			1,134			1,121			1,140
Total number of ATM's		87			88			88			88			88
Total number of financial centers		82			82			81			81			81
Parent company only - investment in subsidiaries		280,455			279,370			275,872			272,909			267,177
Parent company only - intangible assets		133			133			133			133			133

Page 9

SIGNATURE

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, hereunto duly authorized.

		SIMMONS FIRST NATIONAL CORPORATION

		/s/ Robert A. Fehlman
Date: July 19, 2007		Robert A. Fehlman, Executive Vice President
		and Chief Financial Officer