Edgar Filing: SIMMONS FIRST NATIONAL CORP

SIMMONS FIRST NATIONAL CORPORATION 8K

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 20, 2006

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

(Address of principal executive offices)

71601

(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 (17 CFR 230.425)

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 8:25 A.M. Central Time on July 20, 2006.

SIMMONS FIRST ANNOUNCES RECORD SECOND QUARTER EARNINGS

Pine Bluff, AR - Simmons First National Corporation (NASDAQ-GS: SFNC) today announced record second quarter earnings for the period ended June 30, 2006. Net income for the second quarter was $7.3 million, or $0.51 diluted earnings per share, compared to $0.47 per share for the same period in 2005, an increase of 8.5%.

For the six-month period ended June 30, 2006, net income was $13.3 million, an increase of $481,000 from the same period in 2005. Diluted earnings per share for the six-month period were $0.92, an increase of $0.05, or 5.7%.

“Given the current interest rate environment, we are pleased to report record second quarter earnings,” said J. Thomas May, Chairman and Chief Executive Officer. “While we, like the rest of the industry, continued to be challenged with margin compression during this period of rising interest rates, we were able to achieve earnings growth due to the strength of the Company’s asset quality and reduced credit card charge-offs and the related reduction in the provision for loan losses.”

On a quarter over quarter basis, the Company’s net interest margin decreased 14 basis points to 4.01%. However, when compared to the previous quarter, net interest margin decreased by only 4 basis points. “We expect to see continuing competitive pressure in deposit repricing in the short term. This repricing, coupled with the flat yield curve, leads us to anticipate continued margin compression for the balance of 2006,” stated Mr. May.

The Company’s loan portfolio totaled $1.7 billion at June 30, 2006, an increase of $76 million, or 4.6% over the same period last year. The growth was primarily attributable to increased demand in the commercial and real estate loan portfolios. Deposits were $2.1 billion at June 30, 2006, an $84 million, or 4.2% increase from June 30, 2005.

Asset quality remained strong with the allowance for loan losses as a percent of total loans at 1.51% as of June 30, 2006. Non-performing loans equaled 0.62% of total loans, while the allowance for loan losses equaled 243% of non-performing loans. The Company’s annualized net charge-offs to total loans for the second quarter of 2006 was 0.25%. Excluding credit cards, the annualized net charge-offs to total loans for the second quarter was 0.19%.

Total assets for the Company were $2.6 billion at June 30, 2006, an increase of $67 million from June 30, 2005. Stockholders’ equity at June 30, 2006 was $247 million, an $8.5 million increase from June 30, 2005.

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 83 offices, of which 81 are financial centers, in 46 communities.

CONFERENCE CALL

Management will conduct a conference call to review this information at 3:00 p.m. Central Time on Thursday, July 20, 2006. 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 2233449 and the recording will be available through the end of business July 31, 2006. 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:

ROBERT A. FEHLMAN

Executive Vice President and Chief Financial Officer

Simmons First National Corporation

(870) 541-1231

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)	2006			2006			2005			2005			2005
(In thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	89,275		$	89,400		$	75,461		$	83,088		$	73,169
Interest bearing balances due from banks		26,265			34,200			14,397			48,206			27,861
Federal funds sold		22,570			8,620			11,715			16,825			43,230
Cash and cash equivalents		138,110			132,220			101,573			148,119			144,260

Investment securities - held-to-maturity		164,612			148,733			150,299			151,123			149,293
Investment securities - available-for-sale		363,217			380,617			371,490			388,848			400,451
Mortgage loans held for sale		13,248			6,853			7,857			9,417			8,361
Assets held in trading accounts		4,606			4,646			4,631			4,731			4,680

Loans		1,738,628			1,691,020			1,718,107			1,709,372			1,662,337
Allowance for loan losses		(26,174	)		(26,463	)		(26,923	)		(27,330	)		(27,013	)
Net loans		1,712,454			1,664,557			1,691,184			1,682,042			1,635,324

Premises and equipment		65,686			65,040			63,360			61,354			59,086
Foreclosed assets held for sale, net		1,740			1,666			1,540			2,120			1,482
Interest receivable		18,571			17,066			18,754			18,555			15,705
Bank owned life insurance		33,985			33,570			33,269			32,952			32,673
Goodwill		60,605			60,605			60,605			60,454			60,454
Core deposit premiums		4,613			4,822			5,029			5,207			5,414
Other assets		15,809			18,075			14,177			12,120			13,202

TOTAL ASSETS	$	2,597,256		$	2,538,470		$	2,523,768		$	2,577,042		$	2,530,385

LIABILITIES
Non-interest bearing transaction accounts	$	330,946		$	328,477		$	331,113		$	305,506		$	308,543
Interest bearing transaction accounts and savings deposits		761,346			757,368			749,925			758,906			777,820
Time deposits less than $100,000		623,609			618,790			614,742			606,025			563,189
Time deposits greater than $100,000		394,489			389,021			364,178			377,290			376,739
Total deposits		2,110,390			2,093,656			2,059,958			2,047,727			2,026,291
Federal funds purchased and securities
sold under agreements to repurchase		89,684			91,817			107,223			92,320			122,255
Short-term debt		45,054			2,245			8,031			92,747			36,851
Long-term debt - parent company		4,000			4,000			4,000			4,000			6,000
Long-term FHLB debt - affiliate banks		48,143			48,163			52,090			52,066			52,854
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		21,876			22,448			17,451			16,081			16,512
TOTAL LIABILITIES		2,350,077			2,293,259			2,279,683			2,335,871			2,291,693

STOCKHOLDERS' EQUITY
Capital stock		142			143			143			143			144
Surplus		49,607			51,380			53,723			54,429			55,608
Undivided profits		203,165			198,287			194,579			190,047			184,865
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(5,735	)		(4,599	)		(4,360	)		(3,448	)		(1,925	)
TOTAL STOCKHOLDERS' EQUITY		247,179			245,211			244,085			241,171			238,692

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,597,256		$	2,538,470		$	2,523,768		$	2,577,042		$	2,530,385

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)	2006			2006			2005			2005			2005
(In thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	77,064		$	77,676		$	85,534		$	78,418		$	77,007
Interest bearing balances due from banks		21,929			27,968			16,426			16,384			15,765
Federal funds sold		16,138			16,235			6,353			29,375			35,157
Cash and cash equivalents		115,131			121,879			108,313			124,177			127,929

Investment securities - held-to-maturity		157,252			147,697			147,779			150,654			149,038
Investment securities - available-for-sale		373,434			378,026			384,346			390,580			412,101
Mortgage loans held for sale		8,426			6,570			8,056			11,395			9,425
Assets held in trading accounts		4,575			4,632			4,688			4,711			4,696

Loans		1,716,396			1,696,855			1,714,132			1,689,883			1,626,513
Allowance for loan losses		(26,997	)		(27,589	)		(27,308	)		(27,512	)		(26,859	)
Net loans		1,689,399			1,669,266			1,686,824			1,662,371			1,599,654

Premises and equipment		65,485			64,560			62,633			60,497			58,320
Foreclosed assets held for sale, net		1,664			1,738			2,028			1,870			1,420
Interest receivable		18,092			18,030			19,121			17,038			15,301
Bank owned life insurance		33,778			33,408			33,102			32,832			24,823
Goodwill		60,605			60,605			60,554			60,454			60,454
Core deposit premiums		4,733			4,942			5,138			5,326			5,534
Other assets		12,688			12,046			11,718			12,809			12,104

TOTAL ASSETS	$	2,545,262		$	2,523,399		$	2,534,300		$	2,534,714		$	2,480,799

LIABILITIES
Non-interest bearing transaction accounts	$	311,102		$	316,118		$	314,491		$	303,387		$	300,909
Interest bearing transaction accounts and savings deposits		751,262			747,046			748,902			751,877			778,516
Time deposits less than $100,000		624,395			618,730			612,344			584,009			561,898
Time deposits greater than $100,000		394,492			378,426			372,170			372,549			373,352
Total deposits		2,081,251			2,060,320			2,047,907			2,011,822			2,014,675
Federal funds purchased and securities
sold under agreements to repurchase		96,041			109,299			109,065			92,508			108,519
Short-term debt		15,804			5,744			30,435			82,463			13,098
Long-term debt		82,957			83,961			85,808			88,242			91,045
Accrued interest and other liabilities		20,486			18,011			16,859			18,120			16,271
TOTAL LIABILITIES		2,296,539			2,277,335			2,290,074			2,293,155			2,243,608

TOTAL STOCKHOLDERS' EQUITY		248,723			246,064			244,226			241,559			237,191

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,545,262		$	2,523,399		$	2,534,300		$	2,534,714		$	2,480,799

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)	2006		2006		2005		2005		2005
(In thousands, except per share data)
INTEREST INCOME
Loans	$	31,694	$	30,087	$	30,425	$	29,225	$	27,175
Federal funds sold		192		175		63		262		273
Investment securities		4,978		4,830		4,751		4,693		4,659
Mortgage loans held for sale, net of unrealized gains (losses)		128		100		131		168		134
Assets held in trading accounts		19		25		24		25		25
Interest bearing balances due from banks		259		297		162		119		103
TOTAL INTEREST INCOME		37,270		35,514		35,556		34,492		32,369
INTEREST EXPENSE
Time deposits		9,732		8,724		8,051		7,031		6,071
Other deposits		2,909		2,544		2,268		2,015		1,859
Federal funds purchased and securities
sold under agreements to repurchase		1,064		1,104		1,016		815		728
Short-term debt		225		96		311		646		130
Long-term debt		1,148		1,094		1,095		1,113		1,104
TOTAL INTEREST EXPENSE		15,078		13,562		12,741		11,620		9,892
NET INTEREST INCOME		22,192		21,952		22,815		22,872		22,477
Provision for loan losses		789		1,708		1,630		1,736		1,939
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		21,403		20,244		21,185		21,136		20,538
NON-INTEREST INCOME
Trust income		1,293		1,367		1,425		1,430		1,349
Service charges on deposit accounts		4,209		3,763		4,097		4,154		4,153
Other service charges and fees		592		658		507		472		454
Income on sale of mortgage loans, net of commissions		755		676		698		827		712
Income on investment banking, net of commissions		90		107		51		146		161
Credit card fees		2,699		2,458		2,709		2,619		2,584
Premiums on sale of student loans		659		736		251		295		642
Bank owned life insurance income		388		289		304		312		218
Other income		831		558		636		485		724
Gain (loss) on sale of securities, net of taxes		-		-		-		-		(168	)
TOTAL NON-INTEREST INCOME		11,516		10,612		10,678		10,740		10,829
NON-INTEREST EXPENSE
Salaries and employee benefits		13,466		13,505		13,039		12,703		12,697
Occupancy expense, net		1,541		1,520		1,527		1,483		1,394
Furniture and equipment expense		1,456		1,418		1,482		1,421		1,406
Loss on foreclosed assets		40		33		31		57		55
Deposit insurance		71		69		65		72		69
Other operating expenses		5,727		5,580		5,835		5,490		5,343
TOTAL NON-INTEREST EXPENSE		22,301		22,125		21,979		21,226		20,964
NET INCOME BEFORE INCOME TAXES		10,618		8,731		9,884		10,650		10,403
Provision for income taxes		3,322		2,743		3,059		3,316		3,460
NET INCOME	$	7,296	$	5,988	$	6,825	$	7,334	$	6,943
BASIC EARNINGS PER SHARE	$	0.51	$	0.42	$	0.48	$	0.51	$	0.48
DILUTED EARNINGS PER SHARE	$	0.51	$	0.41	$	0.47	$	0.50	$	0.47

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)	2006		2006		2005			2005			2005
(In thousands, except per share data)
INTEREST INCOME
Loans	$	61,781	$	30,087	$	112,238		$	81,813		$	52,588
Federal funds sold		367		175		925			863			600
Investment securities		9,808		4,830		18,677			13,926			9,233
Mortgage loans held for sale, net of unrealized gains (losses)		228		100		552			421			253
Assets held in trading accounts		44		25		99			74			50
Interest bearing balances due from banks		556		297		580			418			299
TOTAL INTEREST INCOME		72,784		35,514		133,071			97,515			63,023
INTEREST EXPENSE
Time deposits		18,456		8,724		26,431			18,381			11,349
Other deposits		5,453		2,544		7,777			5,508			3,494
Federal funds purchased and securities
sold under agreements to repurchase		2,168		1,104		3,104			2,088			1,273
Short-term debt		321		96		1,101			790			143
Long-term debt		2,242		1,094		4,401			3,306			2,192
TOTAL INTEREST EXPENSE		28,640		13,562		42,814			30,073			18,451
NET INTEREST INCOME		44,144		21,952		90,257			67,442			44,572
Provision for loan losses		2,497		1,708		7,526			5,895			4,159
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		41,647		20,244		82,731			61,547			40,413
NON-INTEREST INCOME
Trust income		2,660		1,367		5,589			4,164			2,734
Service charges on deposit accounts		7,972		3,763		15,818			11,721			7,567
Other service charges and fees		1,250		658		2,017			1,511			1,039
Income on sale of mortgage loans, net of commissions		1,431		676		2,919			2,221			1,395
Income on investment banking, net of commissions		197		107		416			364			219
Credit card fees		5,157		2,458		10,252			7,543			4,924
Premiums on sale of student loans		1,395		736		1,822			1,572			1,276
Bank owned life insurance income		677		289		854			551			238
Other income		1,389		558		2,799			2,163			1,677
Gain (loss) on sale of securities, net of taxes		-		-		(168	)		(168	)		(168	)
TOTAL NON-INTEREST INCOME		22,128		10,612		42,318			31,642			20,901
NON-INTEREST EXPENSE
Salaries and employee benefits		26,971		13,505		51,270			38,231			25,529
Occupancy expense, net		3,061		1,520		5,840			4,314			2,831
Furniture and equipment expense		2,874		1,418		5,758			4,277			2,855
Loss on foreclosed assets		73		33		191			160			103
Deposit insurance		140		69		279			214			142
Other operating expenses		11,307		5,580		22,246			16,412			10,923
TOTAL NON-INTEREST EXPENSE		44,426		22,125		85,584			63,608			42,383
NET INCOME BEFORE INCOME TAXES		19,349		8,731		39,465			29,581			18,931
Provision for income taxes		6,065		2,743		12,503			9,444			6,128
NET INCOME	$	13,284	$	5,988	$	26,962		$	20,137		$	12,803
BASIC EARNINGS PER SHARE	$	0.93	$	0.42	$	1.88		$	1.40		$	0.89
DILUTED EARNINGS PER SHARE	$	0.92	$	0.41	$	1.84		$	1.37		$	0.87

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)	2006			2006			2005			2005			2005
(In thousands)
Tier 1 capital
Stockholders' equity	$	247,179		$	245,211		$	244,085		$	241,171		$	238,692
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(64,781	)		(65,084	)		(65,047	)		(65,271	)		(65,452	)
Unrealized loss (gain) on AFS securities		5,735			4,599			4,360			3,448			1,925
Other		-			-			-			-			-

Total Tier 1 capital		218,133			214,726			213,398			209,348			205,165

Tier 2 capital
Qualifying unrealized gain on AFS securities		173			317			338			357			415
Qualifying allowance for loan losses		22,359			21,468			21,815			21,952			21,157

Total Tier 2 capital		22,532			21,785			22,153			22,309			21,572

Total risk-based capital	$	240,665		$	236,511		$	235,551		$	231,657		$	226,737

Risk weighted assets	$	1,783,411		$	1,716,446		$	1,740,005		$	1,750,783		$	1,686,669

Adjusted average assets for leverage ratio	$	2,488,304		$	2,465,348		$	2,475,659		$	2,473,854		$	2,420,348

Ratios at end of quarter
Leverage ratio		8.77	%		8.71	%		8.62	%		8.46	%		8.48	%
Tier 1 capital		12.23	%		12.51	%		12.26	%		11.96	%		12.16	%
Total risk-based capital		13.49	%		13.78	%		13.54	%		13.23	%		13.44	%

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)	2006			2006			2005			2005			2005
(In thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	132,464		$	129,833		$	143,058		$	138,077		$	141,398
Student loans		77,085			91,090			89,818			89,759			75,565
Other consumer		140,631			140,958			138,051			136,626			131,210
Real Estate
Construction		248,834			242,145			238,898			227,063			207,136
Single-family residential		348,782			341,795			340,847			338,466			336,413
Other commercial		487,288			473,559			479,684			462,978			489,880
Unearned income		(5	)		(5	)		(8	)		(8	)		(9	)
Commercial
Commercial		188,480			181,174			184,920			177,682			161,474
Agricultural		86,244			59,944			68,761			105,107			83,071
Financial institutions		16,152			16,158			20,499			21,219			21,979
Other		12,673			14,369			13,579			12,403			14,220

Total Loans	$	1,738,628		$	1,691,020		$	1,718,107		$	1,709,372		$	1,662,337

Investment Securities - End of Period

Held-to-Maturity
U.S. Treasury	$	1,002		$	1,003		$	1,004		$	2,007		$	2,012
U.S. Government agencies		42,000			32,000			28,000			25,999			25,999
Mortgage-backed securities		167			180			187			197			212
State and political subdivisions		116,770			113,512			117,148			120,424			118,586
Other securities		4,673			2,038			3,960			2,496			2,484
Total held-to-maturity		164,612			148,733			150,299			151,123			149,293
Available-for-Sale
U.S. Treasury		7,398			10,201			10,887			17,363			20,092
U.S. Government agencies		335,618			350,688			340,990			346,309			355,534
Mortgage-backed securities		3,074			3,264			3,309			3,442			3,786
State and political subdivisions		1,373			2,139			3,053			3,169			3,589
FHLB stock		7,693			6,150			6,044			11,320			10,137
Other securities		8,061			8,175			7,207			7,245			7,313
Total available-for-sale		363,217			380,617			371,490			388,848			400,451

Total investment securities	$	527,829		$	529,350		$	521,789		$	539,971		$	549,744

Fair Value - HTM investment securities	$	161,655		$	147,589		$	149,173		$	151,192		$	150,169

Investment Securities - QTD Average

Taxable securities	$	411,388		$	409,238		$	412,483		$	419,204		$	439,010
Tax exempt securities		119,298			116,485			119,642			122,030			122,129

Total investment securities - QTD average	$	530,686		$	525,723		$	532,125		$	541,234		$	561,139

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)	2006			2006			2005			2005			2005
(In thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	26,463		$	26,923		$	27,330		$	27,013		$	26,422

Loans charged off
Credit cards		600			593			1,455			1,157			1,158
Other consumer		223			272			299			341			356
Real estate		741			260			262			444			222
Commercial		182			209			532			1,217			520
Total loans charged off		1,746			1,334			2,548			3,159			2,256

Recoveries of loans previously charged off
Credit cards		271			236			192			245			216
Other consumer		156			153			131			214			159
Real estate		213			198			46			128			47
Commercial		28			104			142			1,153			486
Total recoveries		668			691			511			1,740			908
Net loans charged off		1,078			643			2,037			1,419			1,348
Reclass to reserve for unfunded commitments		-			(1,525	)		-			-			-
Provision for loan losses		789			1,708			1,630			1,736			1,939
Balance, end of quarter	$	26,174		$	26,463		$	26,923		$	27,330		$	27,013

Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	6,266		$	4,497		$	5,598		$	6,069		$	6,947
Commercial		2,160			1,328			602			1,026			795
Consumer		1,130			1,005			1,096			1,193			1,167
Total nonaccrual loans		9,556			6,830			7,296			8,288			8,909
Loans past due 90 days or more		1,210			1,974			1,131			1,181			1,199
Total non-performing loans		10,766			8,804			8,427			9,469			10,108

Other non-performing assets
Foreclosed assets held for sale		1,740			1,666			1,540			2,120			1,482
Other non-performing assets		-			11			16			78			51
Total other non-performing assets		1,740			1,677			1,556			2,198			1,533

Total non-performing assets	$	12,506		$	10,481		$	9,983		$	11,667		$	11,641

Ratios
Allowance for loan losses to total loans		1.51	%		1.56	%		1.57	%		1.60	%		1.63	%
Allowance for loan losses to
non-performing loans		243.12	%		300.58	%		319.48	%		288.63	%		267.24	%
Allowance for loan losses to
non-performing assets		209.29	%		252.49	%		269.69	%		234.25	%		232.05	%
Non-performing assets ratio *		0.72	%		0.62	%		0.58	%		0.68	%		0.70	%
Non-performing loans to total loans		0.62	%		0.52	%		0.49	%		0.55	%		0.61	%
Non-performing assets to total assets		0.48	%		0.41	%		0.40	%		0.45	%		0.46	%
Annualized net charge offs to total loans		0.25	%		0.15	%		0.47	%		0.33	%		0.33	%
Annualized net charge offs to total loans
(excluding credit cards)		0.19	%		0.07	%		0.20	%		0.13	%		0.11	%

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

Page 7

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Jun 30			Mar 31			Dec 31			Sep 30			Jun 30
(Unaudited)	2006			2006			2005			2005			2005
(In thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.51		$	0.41		$	0.47		$	0.50		$	0.47
Operating earnings (excludes nonrecurring items)		7,296			5,988			6,825			7,334			6,943
Diluted operating earnings per share		0.51			0.41			0.47			0.50			0.47
Cash dividends declared per common share		0.17			0.16			0.16			0.15			0.15
Cash dividends declared - amount		2,418			2,280			2,293			2,152			2,154
Return on average stockholders' equity		11.77	%		9.87	%		11.09	%		12.05	%		11.74	%
Return on average assets		1.15	%		0.96	%		1.07	%		1.15	%		1.12	%
Net interest margin (FTE)		4.01	%		4.05	%		4.10	%		4.10	%		4.15	%
FTE Adjustment - investments		718			695			701			714			720
FTE Adjustment - loans		86			85			88			89			83
Amortization of intangibles		209			207			208			207			207
Amortization of intangibles, net of taxes		132			130			131			130			130
Average shares outstanding		14,247,973			14,265,085			14,329,026			14,357,059			14,365,441
Shares repurchased		75,400			89,500			29,458			44,835			35,660
Average price of repurchased shares		26.74			28.12			27.81			27.39			24.17
Average earning assets		2,298,150			2,277,983			2,281,780			2,292,982			2,252,695
Average interest bearing liabilities		1,964,951			1,943,206			1,958,724			1,971,648			1,926,428

YEAR-TO-DATE
Diluted earnings per share	$	0.92		$	0.41		$	1.84		$	1.37		$	0.87
Operating earnings (excludes nonrecurring items)		13,284			5,988			26,962			20,137			12,803
Diluted operating earnings per share		0.92			0.41			1.84			1.37			0.87
Cash dividends declared per common share		0.33			0.16			0.61			0.45			0.30
Return on average stockholders' equity		10.83	%		9.87	%		11.24	%		11.29	%		10.89	%
Return on average assets		1.06	%		0.96	%		1.08	%		1.08	%		1.05	%
Net interest margin (FTE)		4.03	%		4.05	%		4.13	%		4.14	%		4.16	%
FTE Adjustment - investments		1,413			695			2,891			2,190			1,476
FTE Adjustment - loans		171			85			343			255			166
Amortization of intangibles		416			207			829			621			414
Amortization of intangibles, net of taxes		262			130			522			391			261
Average shares outstanding		14,256,482			14,265,085			14,375,005			14,385,842			14,407,752
Diluted shares outstanding		259,130			274,270			311,922			297,548			304,431
Average earning assets		2,288,068			2,277,983			2,264,402			2,258,545			2,241,040
Average interest bearing liabilities		1,954,077			1,943,206			1,937,085			1,929,791			1,908,517

END OF PERIOD
Book value	$	17.41		$	17.19		$	17.04		$	16.82		$	16.63
Shares outstanding		14,199,100			14,264,144			14,326,923			14,337,803			14,353,963
Full-time equivalent employees		1,140			1,111			1,110			1,099			1,094
Total number of ATM's		88			87			86			83			81
Total number of financial centers		81			80			79			77			76
Parent company only - investment in subsidiaries		267,177			267,732			265,714			263,991			262,020
Parent company only - intangible assets		133			133			133			133			133

Page 8

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
Date: July 20, 2006	/s/ Robert A. Fehlman Robert A. Fehlman, Executive Vice President
	and Chief Financial Officer