Edgar Filing: SIMMONS FIRST NATIONAL CORP

a5521176.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) October 18, 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):

o Written communications pursuant to Rule 425 under the Securities Act

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

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

o 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 October 18, 2007.

SIMMONS FIRST ANNOUNCES RECORD EARNINGS

Pine Bluff, AR – Simmons First National Corporation (NASDAQ-GS: SFNC) today announced record earnings for the three and nine-month periods ended September 30, 2007. Net income for the third quarter was $7.5 million, or $0.53 diluted earnings per share, compared to $0.51 per share for the same period in 2006, an increase of $0.02, or 3.9%.

For the nine-month period ended September 30, 2007, net income was $21.2 million. Diluted earnings per share for the nine-month period were $1.48, an increase of $0.05, or 3.5% over the same period in 2006.

“Considering the uncertainty relative to the economy, we are very pleased with our third quarter and year-to-date earnings,” commented J. Thomas May, Chairman and Chief Executive Officer. “In particular, a better than expected loan growth and margin, coupled with excellent asset quality and good expense control, produced better than expected results. Bottom line is that our associates continue to do a great job in serving our customers throughout Arkansas, which in turn is rewarding our shareholders.”

The Company’s net interest income for the third quarter of 2007 increased 5.3% to $23.6 million compared to $22.4 million for 2006. Net interest margin increased ten basis points to 4.01% from the third quarter of 2006 and five basis points from the second quarter of 2007.

The Company’s loan portfolio totaled $1.88 billion at September 30, 2007 compared to $1.79 billion at September 30, 2006, an increase of 4.9%. The growth was primarily attributable to increases in commercial loans, real estate loans and the credit card portfolio. “Credit card growth continued to improve significantly due to the tremendous response we have received regarding Simmons First credit card products,” stated Mr. May. “While the national credit card industry continues to be very competitive, several national publications and websites, including CNN Money, MSNBC and Money Magazine, recently recognized Simmons First as having two of the best credit cards in America for customers with excellent credit.”

Asset quality remained strong with the allowance for loan losses as a percent of total loans at 1.34% as of September 30, 2007. Non-performing loans equaled 0.53% of total loans, while the allowance for loan losses equaled 251% of non-performing loans. The Company’s annualized net charge-offs to total loans for the third quarter of 2007 was 0.20%. Excluding credit cards, the annualized net charge-offs to total loans for the third quarter was 0.13%.

Total assets for the Company were $2.7 billion and deposits were $2.2 billion at September 30, 2007. Stockholders’ equity increased 5.1% to $268 million at September 30, 2007 compared to $255 million at September 30, 2006. Book value per share increased 7.0% to $19.20 at September 30, 2007 compared to $17.94 at September 30, 2006.

Simmons First recently opened two financial centers in North Little Rock. “We are excited about our initial entries into the new market of North Little Rock,” said May. In addition, new financial centers are under construction in Paragould and Little Rock – Midtown (near War Memorial Stadium and UAMS), along with 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 83 are financial centers, in 47 communities.

CONFERENCE CALL

Management will conduct a conference call to review this information at 3:00 p.m. Central Time on Thursday, October 18, 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 18427327 and the recording will be available through the end of business October 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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	85,370		$	71,915		$	71,513		$	83,452		$	77,724
Interest bearing balances due from banks		6,557			45,084			43,614			45,829			19,599
Federal funds sold		25,655			2,600			60,270			21,870			49,340
Cash and cash equivalents		117,582			119,599			175,397			151,151			146,663

Investment securities - held-to-maturity		180,206			178,841			181,901			179,944			172,944
Investment securities - available-for-sale		349,282			346,740			338,222			347,182			358,561
Mortgage loans held for sale		8,244			9,928			8,718			7,091			6,591
Assets held in trading accounts		5,482			4,496			10,464			4,487			4,574

Loans		1,875,235			1,821,430			1,798,234			1,783,495			1,788,517
Allowance for loan losses		(25,107	)		(25,197	)		(25,151	)		(25,385	)		(25,879	)
Net loans		1,850,128			1,796,233			1,773,083			1,758,110			1,762,638

Premises and equipment		73,088			70,873			69,443			67,926			66,769
Foreclosed assets held for sale, net		1,629			1,484			2,321			1,940			1,413
Interest receivable		25,699			21,868			21,312			21,974			21,953
Bank owned life insurance		37,632			36,881			36,498			36,133			35,708
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,583			3,786			3,993			4,199			4,406
Other assets		8,527			9,084			9,739			10,671			14,117

TOTAL ASSETS	$	2,721,687		$	2,660,418		$	2,691,696		$	2,651,413		$	2,656,942

LIABILITIES
Non-interest bearing transaction accounts	$	319,792		$	308,047		$	316,603		$	305,327		$	302,700
Interest bearing transaction accounts and savings deposits		730,533			763,017			753,110			738,763			745,649
Time deposits less than $100,000		680,288			686,456			686,650			681,131			664,105
Time deposits greater than $100,000		442,706			422,580			450,558			450,310			436,022
Total deposits		2,173,319			2,180,100			2,206,921			2,175,531			2,148,476
Federal funds purchased and securities
sold under agreements to repurchase		106,984			97,947			108,661			105,036			85,535
Short-term debt		67,595			11,072			5,009			6,114			61,850
Long-term debt - parent company		-			2,000			2,000			2,000			2,000
Long-term FHLB debt - affiliate banks		48,725			49,669			50,652			50,381			49,243
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		26,533			25,395			25,353			22,405			24,316
TOTAL LIABILITIES		2,454,086			2,397,113			2,429,526			2,392,397			2,402,350

STOCKHOLDERS' EQUITY
Capital stock		139			141			141			142			142
Surplus		41,470			44,773			46,890			48,678			49,068
Undivided profits		225,972			220,981			216,483			212,394			208,200
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		20			(2,590	)		(1,344	)		(2,198	)		(2,818	)
TOTAL STOCKHOLDERS' EQUITY		267,601			263,305			262,170			259,016			254,592

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,721,687		$	2,660,418		$	2,691,696		$	2,651,413		$	2,656,942

Page 1

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	72,325		$	72,066		$	75,172		$	80,670		$	78,708
Interest bearing balances due from banks		9,382			22,636			37,957			24,237			16,851
Federal funds sold		21,083			25,263			51,383			25,554			22,966
Cash and cash equivalents		102,790			119,965			164,512			130,461			118,525

Investment securities - held-to-maturity		179,616			180,486			179,479			174,132			167,182
Investment securities - available-for-sale		348,085			350,567			349,887			355,196			360,584
Mortgage loans held for sale		8,747			9,241			6,362			7,299			8,368
Assets held in trading accounts		4,930			4,567			4,746			4,555			4,598

Loans		1,849,091			1,802,917			1,782,125			1,779,528			1,769,131
Allowance for loan losses		(25,642	)		(25,791	)		(25,824	)		(26,168	)		(26,255	)
Net loans		1,823,449			1,777,126			1,756,301			1,753,360			1,742,876

Premises and equipment		71,943			69,967			68,871			67,438			66,044
Foreclosed assets held for sale, net		1,877			1,934			2,121			1,488			1,525
Interest receivable		24,156			22,086			21,464			22,681			20,922
Bank owned life insurance		37,315			36,691			36,300			35,916			35,226
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,702			3,907			4,111			4,317			4,527
Other assets		9,374			9,063			9,292			10,995			13,215

TOTAL ASSETS	$	2,676,589		$	2,646,205		$	2,664,051		$	2,628,443		$	2,604,197

LIABILITIES
Non-interest bearing transaction accounts	$	305,453		$	309,753		$	306,020		$	305,447		$	302,490
Interest bearing transaction accounts and savings deposits		724,782			739,972			731,214			728,085			722,920
Time deposits less than $100,000		686,750			688,493			687,109			678,399			658,182
Time deposits greater than $100,000		437,217			435,405			451,004			441,505			416,693
Total deposits		2,154,202			2,173,623			2,175,347			2,153,436			2,100,285
Federal funds purchased and securities
sold under agreements to repurchase		113,060			99,808			118,011			102,109			93,670
Short-term debt		38,710			3,088			4,031			8,594			54,119
Long-term debt		80,123			82,177			82,185			82,358			80,826
Accrued interest and other liabilities		23,943			22,465			22,002			23,157			22,804
TOTAL LIABILITIES		2,410,038			2,381,161			2,401,576			2,369,654			2,351,704

TOTAL STOCKHOLDERS' EQUITY		266,551			265,044			262,475			258,789			252,493

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,676,589		$	2,646,205		$	2,664,051		$	2,628,443		$	2,604,197

Page 2

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
(Unaudited)	2007		2007		2007		2006		2006
(in thousands, except per share data)
INTEREST INCOME
Loans	$	36,604	$	35,051	$	34,095	$	34,543	$	33,924
Federal funds sold		302		331		670		365		325
Investment securities		6,046		5,889		5,721		5,447		5,183
Mortgage loans held for sale, net of unrealized gains (losses)		147		133		104		107		141
Assets held in trading accounts		71		35		18		13		14
Interest bearing balances due from banks		131		297		510		287		229
TOTAL INTEREST INCOME		43,301		41,736		41,118		40,762		39,816
INTEREST EXPENSE
Time deposits		13,307		13,144		13,015		12,755		11,381
Other deposits		3,328		3,324		3,179		3,182		3,023
Federal funds purchased and securities
sold under agreements to repurchase		1,404		1,228		1,425		1,295		1,152
Short-term debt		519		49		70		145		761
Long-term debt		1,173		1,198		1,198		1,102		1,122
TOTAL INTEREST EXPENSE		19,731		18,943		18,887		18,479		17,439
NET INTEREST INCOME		23,570		22,793		22,231		22,283		22,377
Provision for loan losses		850		831		751		663		602
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		22,720		21,962		21,480		21,620		21,775
NON-INTEREST INCOME
Trust income		1,528		1,474		1,637		1,517		1,435
Service charges on deposit accounts		3,759		3,656		3,497		3,850		3,973
Other service charges and fees		698		692		808		715		596
Income on sale of mortgage loans, net of commissions		715		727		679		655		763
Income on investment banking, net of commissions		90		153		150		89		55
Credit card fees		3,115		3,025		2,649		2,830		2,755
Premiums on sale of student loans		419		741		882		263		413
Bank owned life insurance income		367		359		364		425		382
Other income		682		510		788		449		654
TOTAL NON-INTEREST INCOME		11,373		11,337		11,454		10,793		11,026
NON-INTEREST EXPENSE
Salaries and employee benefits		13,778		13,903		13,725		13,173		13,298
Occupancy expense, net		1,671		1,624		1,650		1,712		1,612
Furniture and equipment expense		1,455		1,507		1,466		1,437		1,407
Loss on foreclosed assets		77		36		24		31		32
Deposit insurance		85		68		67		66		64
Other operating expenses		6,157		5,873		6,282		6,088		5,722
TOTAL NON-INTEREST EXPENSE		23,223		23,011		23,214		22,507		22,135
NET INCOME BEFORE INCOME TAXES		10,870		10,288		9,720		9,906		10,666
Provision for income taxes		3,370		3,257		3,083		3,156		3,219
NET INCOME	$	7,500	$	7,031	$	6,637	$	6,750	$	7,447
BASIC EARNINGS PER SHARE	$	0.53	$	0.50	$	0.47	$	0.47	$	0.53
DILUTED EARNINGS PER SHARE	$	0.53	$	0.49	$	0.46	$	0.47	$	0.51

Page 3

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Year-to-Date
For the Quarters Ended	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
(Unaudited)	2007		2007		2007		2006		2006
(in thousands, except per share data)
INTEREST INCOME
Loans	$	105,751	$	69,147	$	34,095	$	130,248	$	95,705
Federal funds sold		1,303		1,001		670		1,057		692
Investment securities		17,656		11,610		5,721		20,438		14,991
Mortgage loans held for sale, net of unrealized gains (losses)		383		236		104		476		369
Assets held in trading accounts		124		53		18		71		58
Interest bearing balances due from banks		938		807		510		1,072		785
TOTAL INTEREST INCOME		126,155		82,854		41,118		153,362		112,600
INTEREST EXPENSE
Time deposits		39,467		26,161		13,015		42,592		29,837
Other deposits		9,832		6,503		3,179		11,658		8,476
Federal funds purchased and securities
sold under agreements to repurchase		4,057		2,653		1,425		4,615		3,320
Short-term debt		637		118		70		1,227		1,082
Long-term debt		3,568		2,395		1,198		4,466		3,364
TOTAL INTEREST EXPENSE		57,561		37,830		18,887		64,558		46,079
NET INTEREST INCOME		68,594		45,024		22,231		88,804		66,521
Provision for loan losses		2,432		1,582		751		3,762		3,099
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		66,162		43,442		21,480		85,042		63,422
NON-INTEREST INCOME
Trust income		4,639		3,111		1,637		5,612		4,095
Service charges on deposit accounts		10,912		7,153		3,497		15,795		11,945
Other service charges and fees		2,198		1,500		808		2,561		1,846
Income on sale of mortgage loans, net of commissions		2,121		1,407		679		2,849		2,194
Income on investment banking, net of commissions		393		303		150		341		252
Credit card fees		8,789		5,674		2,649		10,742		7,912
Premiums on sale of student loans		2,042		1,623		882		2,071		1,808
Bank owned life insurance income		1,090		723		364		1,523		1,098
Other income		1,980		1,298		788		2,453		2,004
TOTAL NON-INTEREST INCOME		34,164		22,792		11,454		43,947		33,154
NON-INTEREST EXPENSE
Salaries and employee benefits		41,406		27,628		13,725		53,442		40,269
Occupancy expense, net		4,945		3,273		1,650		6,385		4,673
Furniture and equipment expense		4,428		2,973		1,466		5,718		4,281
Loss on foreclosed assets		137		59		24		136		105
Deposit insurance		220		135		67		270		204
Other operating expenses		18,312		12,158		6,282		23,117		17,029
TOTAL NON-INTEREST EXPENSE		69,448		46,226		23,214		89,068		66,561
NET INCOME BEFORE INCOME TAXES		30,878		20,008		9,720		39,921		30,015
Provision for income taxes		9,710		6,340		3,083		12,440		9,284
NET INCOME	$	21,168	$	13,668	$	6,637	$	27,481	$	20,731
BASIC EARNINGS PER SHARE	$	1.50	$	0.97	$	0.47	$	1.93	$	1.46
DILUTED EARNINGS PER SHARE	$	1.48	$	0.95	$	0.46	$	1.90	$	1.43

Page 4

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands)
Tier 1 capital
Stockholders' equity	$	267,601		$	263,305		$	262,170		$	259,016		$	254,592
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(63,924	)		(64,144	)		(64,367	)		(64,334	)		(64,557	)
Unrealized loss (gain) on AFS securities		(20	)		2,590			1,344			2,198			2,818

Total Tier 1 capital		233,657			231,751			229,147			226,880			222,853

Tier 2 capital
Qualifying unrealized gain on AFS securities		158			187			129			167			177
Qualifying allowance for loan losses		24,188			23,565			23,237			22,953			23,103

Total Tier 2 capital		24,346			23,752			23,366			23,120			23,280

Total risk-based capital	$	258,003		$	255,503		$	252,513		$	250,000		$	246,133

Risk weighted assets	$	1,932,608		$	1,882,040		$	1,855,511		$	1,831,063		$	1,843,960

Adjusted average assets for leverage ratio	$	2,615,527		$	2,584,670		$	2,603,178		$	2,568,407		$	2,547,237

Ratios at end of quarter
Equity to assets		9.83	%		9.90	%		9.74	%		9.77	%		9.58	%
Tangible equity to tangible assets		7.66	%		7.56	%		7.47	%		7.42	%		7.21	%
Leverage ratio		8.93	%		8.97	%		8.80	%		8.83	%		8.75	%
Tier 1 capital		12.09	%		12.31	%		12.35	%		12.39	%		12.09	%
Total risk-based capital		13.35	%		13.58	%		13.61	%		13.65	%		13.35	%

Page 5

Simmons First National Corporation													SFNC
Consolidated Loans and Investments
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	149,185		$	140,327		$	133,511		$	143,359		$	133,607
Student loans		78,377			68,477			84,358			84,831			86,875
Other consumer		140,771			139,908			141,212			142,596			146,039
Real Estate
Construction		259,705			265,705			276,582			277,411			267,604
Single-family residential		377,155			372,029			366,222			364,453			364,657
Other commercial		538,924			540,042			536,421			512,404			494,512
Unearned income		(2	)		(3	)		(3	)		(3	)		(4	)
Commercial
Commercial		201,903			183,349			182,548			178,028			175,576
Agricultural		111,984			96,213			61,617			62,293			103,301
Financial institutions		5,905			5,351			5,080			4,766			576
Other		11,328			10,032			10,686			13,357			15,774

Total Loans	$	1,875,235		$	1,821,430		$	1,798,234		$	1,783,495		$	1,788,517

Investment Securities - End of Period
Held-to-Maturity
U.S. Treasury	$	1,500		$	1,500		$	-		$	-		$	1,001
U.S. Government agencies		43,000			44,000			54,998			54,998			53,000
Mortgage-backed securities		136			140			151			155			161
State and political subdivisions		133,196			130,846			124,415			122,472			116,481
Other securities		2,374			2,355			2,337			2,319			2,301
Total held-to-maturity		180,206			178,841			181,901			179,944			172,944
Available-for-Sale
U.S. Treasury		7,517			8,975			11,434			6,940			6,749
U.S. Government agencies		325,414			322,687			310,611			322,411			331,709
Mortgage-backed securities		2,769			2,793			2,948			2,956			3,095
State and political subdivisions		985			984			1,132			1,370			1,373
FHLB stock		7,554			5,206			5,090			5,504			7,674
Other securities		5,043			6,095			7,007			8,001			7,961
Total available-for-sale		349,282			346,740			338,222			347,182			358,561

Total investment securities	$	529,488		$	525,581		$	520,123		$	527,126		$	531,505

Fair Value - HTM investment securities	$	179,685		$	175,870		$	181,792		$	179,816		$	172,951

Investment Securities - QTD Average
Taxable securities	$	394,878		$	401,723		$	406,342		$	410,153		$	410,382
Tax exempt securities		132,823			129,330			123,024			119,175			117,384

Total investment securities - QTD average	$	527,701		$	531,053		$	529,366		$	529,328		$	527,766

Page 6

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	25,197		$	25,151		$	25,385		$	25,879		$	26,174

Loans charged off
Credit cards		633			625			735			600			661
Other consumer		397			304			425			395			352
Real estate		499			453			295			793			74
Commercial		174			111			219			209			717
Total loans charged off		1,703			1,493			1,674			1,997			1,804

Recoveries of loans previously charged off
Credit cards		260			272			261			242			291
Other consumer		122			152			105			173			147
Real estate		207			241			162			403			87
Commercial		174			43			161			22			382
Total recoveries		763			708			689			840			907
Net loans charged off		940			785			985			1,157			897
Provision for loan losses		850			831			751			663			602
Balance, end of quarter	$	25,107		$	25,197		$	25,151		$	25,385		$	25,879

Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	6,949		$	7,237		$	5,561		$	6,916		$	7,674
Commercial		576			632			685			720			1,054
Consumer		1,540			1,652			1,492			1,322			1,089
Total nonaccrual loans		9,065			9,521			7,738			8,958			9,817
Loans past due 90 days or more		946			1,133			879			1,097			1,029
Total non-performing loans		10,011			10,654			8,617			10,055			10,846

Other non-performing assets
Foreclosed assets held for sale		1,629			1,484			2,321			1,940			1,413
Other non-performing assets		38			30			40			52			16
Total other non-performing assets		1,667			1,514			2,361			1,992			1,429

Total non-performing assets	$	11,678		$	12,168		$	10,978		$	12,047		$	12,275

Ratios
Allowance for loan losses to total loans		1.34	%		1.38	%		1.40	%		1.42	%		1.45	%
Allowance for loan losses to
non-performing loans		250.79	%		236.50	%		291.88	%		252.46	%		238.60	%
Allowance for loan losses to
non-performing assets		214.99	%		207.08	%		229.10	%		210.72	%		210.83	%
Non-performing assets ratio *		0.62	%		0.67	%		0.61	%		0.67	%		0.69	%
Non-performing loans to total loans		0.53	%		0.58	%		0.48	%		0.56	%		0.61	%
Non-performing assets to total assets		0.43	%		0.46	%		0.41	%		0.45	%		0.46	%
Annualized net charge offs to total loans		0.20	%		0.17	%		0.22	%		0.26	%		0.20	%
Annualized net charge offs to total loans
(excluding credit cards)		0.13	%		0.10	%		0.13	%		0.19	%		0.13	%

* 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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006

ASSETS

Earning Assets
Interest bearing balances due from banks		5.54	%		5.26	%		5.45	%		4.70	%		5.39	%
Federal funds sold		5.68	%		5.26	%		5.29	%		5.67	%		5.61	%
Investment securities		5.15	%		5.04	%		4.95	%		4.62	%		4.43	%
Mortgage loans held for sale		6.67	%		5.77	%		6.63	%		5.82	%		6.69	%
Assets held in trading accounts		5.71	%		3.07	%		1.54	%		1.13	%		1.21	%
Loans		7.87	%		7.80	%		7.76	%		7.70	%		7.61	%
Total interest earning assets		7.24	%		7.13	%		7.05	%		6.96	%		6.86	%


LIABILITIES

Interest bearing liabilities
Interest bearing transaction and
savings accounts		1.82	%		1.80	%		1.76	%		1.73	%		1.66	%
Time deposits		4.70	%		4.69	%		4.64	%		4.52	%		4.20	%
Total interest bearing deposits		3.57	%		3.54	%		3.51	%		3.42	%		3.18	%
Federal funds purchased and securities
sold under agreement to repurchase		4.93	%		4.93	%		4.90	%		5.03	%		4.88	%
Short-term debt		5.32	%		6.36	%		7.04	%		6.69	%		5.58	%
Long-term debt		5.81	%		5.85	%		5.91	%		5.31	%		5.51	%
Total interest bearing liabilities		3.76	%		3.71	%		3.69	%		3.59	%		3.41	%

NET INTEREST MARGIN/SPREAD

Net interest spread		3.48	%		3.42	%		3.36	%		3.37	%		3.45	%
Net interest margin - quarter-to-date		4.01	%		3.96	%		3.88	%		3.86	%		3.91	%
Net interest margin - year-to-date		3.95	%		3.92	%		3.88	%		3.96	%		3.99	%

Page 8

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2007			2007			2007			2006			2006
(in thousands, except per share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.53		$	0.49		$	0.46		$	0.47		$	0.51
Operating earnings (excludes nonrecurring items)		7,500			7,031			6,637			6,750			7,447
Cash dividends declared per common share		0.18			0.18			0.18			0.18			0.17
Cash dividends declared - amount		2,509			2,533			2,548			2,555			2,413
Return on average stockholders' equity		11.16	%		10.64	%		10.25	%		10.35	%		11.70	%
Return on tangible equity		14.96	%		14.32	%		13.88	%		14.08	%		16.04	%
Return on average assets		1.11	%		1.07	%		1.01	%		1.02	%		1.13	%
Net interest margin (FTE)		4.01	%		3.96	%		3.88	%		3.86	%		3.91	%
FTE Adjustment - investments		802			785			741			720			707
FTE Adjustment - loans		69			72			85			85			89
Amortization of intangibles		203			207			207			207			207
Amortization of intangibles, net of taxes		128			130			130			130			130
Average shares outstanding		13,976,706			14,099,105			14,177,615			14,198,399			14,195,844
Average diluted shares outstanding		14,176,641			14,313,493			14,395,153			14,446,730			14,451,237
Shares repurchased		134,253			90,900			69,678			14,200			24,000
Average price of repurchased shares		25.43			27.38			28.62			31.15			27.93
Average earning assets		2,420,934			2,395,677			2,411,939			2,370,501			2,349,680
Average interest bearing liabilities		2,080,642			2,048,943			2,073,554			2,041,050			2,026,410

YEAR-TO-DATE
Diluted earnings per share	$	1.48		$	0.95		$	0.46		$	1.90		$	1.43
Operating earnings (excludes nonrecurring items)		21,168			13,668			6,637			27,481			20,731
Cash dividends declared per common share		0.54			0.36			0.18			0.68			0.50
Return on average stockholders' equity		10.69	%		10.45	%		10.25	%		10.93	%		11.13	%
Return on tangible equity		14.40	%		14.10	%		13.88	%		15.03	%		15.37	%
Return on average assets		1.06	%		1.04	%		1.01	%		1.07	%		1.08	%
Net interest margin (FTE)		3.95	%		3.92	%		3.88	%		3.96	%		3.99	%
FTE Adjustment - investments		2,328			1,526			741			2,840			2,120
FTE Adjustment - loans		226			157			85			345			260
Amortization of intangibles		617			414			207			830			623
Amortization of intangibles, net of taxes		388			260			130			522			392
Average shares outstanding		14,083,739			14,138,143			14,177,615			14,226,481			14,236,047
Average diluted shares outstanding		14,283,674			14,352,531			14,395,153			14,474,812			14,491,440
Average earning assets		2,409,516			2,403,809			2,411,939			2,324,078			2,308,604
Average interest bearing liabilities		2,067,711			2,061,248			2,073,554			1,993,903			1,978,189

END OF PERIOD
Book value per share	$	19.20		$	18.73		$	18.54		$	18.24		$	17.94
Tangible book value per share		14.60			14.15			13.97			13.68			13.36
Shares outstanding		13,934,509			14,059,631			14,139,631			14,196,855			14,188,008
Full-time equivalent employees		1,131			1,112			1,110			1,134			1,121
Total number of ATMs		89			87			88			88			88
Total number of financial centers		83			82			82			81			81
Parent company only - investment in subsidiaries		285,340			280,455			279,370			275,872			272,909
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: October 18, 2007		Robert A. Fehlman, Executive Vice President
		and Chief Financial Officer