Edgar Filing: SIMMONS FIRST NATIONAL CORP

Simmons First National Corp. 8-K

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 19, 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		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):

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

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

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

[ ] 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 19, 2006.

SIMMONS FIRST ANNOUNCES RECORD THIRD QUARTER 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, 2006. Net income for the third quarter was $7.4 million, or $0.51 diluted earnings per share, compared to $0.50 per share for the same period in 2005.

For the nine-month period ended September 30, 2006, net income was $20.7 million, an increase of $591,000 from the same period in 2005. Diluted earnings per share for the nine-month period were $1.43, an increase of $0.06, or 4.4% over the same period in 2005.

“Given the current interest rate environment and the competition for deposits, we are relatively pleased with this quarter’s earnings report,” said J. Thomas May, Chairman and Chief Executive Officer. “We, like the rest of the industry, continue to be challenged with margin compression. During this period of an inverted yield curve, we were still 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.”

The Company’s net interest margin decreased 10 basis points to 3.91% from the second quarter of 2006. “We expect to see continuing competitive pressure in deposit repricing in the short term. This repricing leads us to anticipate a flat to slightly compressed margin for the balance of 2006,” stated Mr. May.

The Company’s loan portfolio totaled $1.8 billion at September 30, 2006, an increase of $79 million, or 4.6% over the same period last year. The growth was primarily attributable to increased demand in the real estate loan portfolio. Deposits were $2.1 billion at September 30, 2006, a $101 million, or 4.9% increase from September 30, 2005.

Asset quality remained strong with the allowance for loan losses as a percent of total loans at 1.45% as of September 30, 2006. Non-performing loans equaled 0.61% of total loans, while the allowance for loan losses equaled 239% of non-performing loans. The Company’s annualized net charge-offs to total loans for the third quarter of 2006 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 at September 30, 2006, an increase of $80 million from September 30, 2005. Stockholders’ equity at September 30, 2006 was $255 million, a $13.4 million increase from September 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 84 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, October 19, 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 7329400 and the recording will be available through the end of business October 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

(501) 558-3141

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)	2006			2006			2006			2005			2005
(In thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	77,724		$	89,275		$	89,400		$	75,461		$	83,088
Interest bearing balances due from banks		19,599			26,265			34,200			14,397			48,206
Federal funds sold		49,340			22,570			8,620			11,715			16,825
Cash and cash equivalents		146,663			138,110			132,220			101,573			148,119

Investment securities - held-to-maturity		172,944			164,612			148,733			150,299			151,123
Investment securities - available-for-sale		358,561			363,217			380,617			371,490			388,848
Mortgage loans held for sale		6,591			13,248			6,853			7,857			9,417
Assets held in trading accounts		4,574			4,606			4,646			4,631			4,731

Loans		1,788,517			1,738,628			1,691,020			1,718,107			1,709,372
Allowance for loan losses		(25,879	)		(26,174	)		(26,463	)		(26,923	)		(27,330	)
Net loans		1,762,638			1,712,454			1,664,557			1,691,184			1,682,042

Premises and equipment		66,769			65,686			65,040			63,360			61,354
Foreclosed assets held for sale, net		1,413			1,740			1,666			1,540			2,120
Interest receivable		21,953			18,571			17,066			18,754			18,555
Bank owned life insurance		35,708			33,985			33,570			33,269			32,952
Goodwill		60,605			60,605			60,605			60,605			60,454
Core deposit premiums		4,406			4,613			4,822			5,029			5,207
Other assets		14,117			15,809			18,075			14,177			12,120

TOTAL ASSETS	$	2,656,942		$	2,597,256		$	2,538,470		$	2,523,768		$	2,577,042

LIABILITIES
Non-interest bearing transaction accounts	$	302,700		$	330,946		$	328,477		$	331,113		$	305,506
Interest bearing transaction accounts and savings deposits		745,649			761,346			757,368			749,925			758,906
Time deposits less than $100,000		664,105			623,609			618,790			614,742			606,025
Time deposits greater than $100,000		436,022			394,489			389,021			364,178			377,290
Total deposits		2,148,476			2,110,390			2,093,656			2,059,958			2,047,727
Federal funds purchased and securities
sold under agreements to repurchase		85,535			89,684			91,817			107,223			92,320
Short-term debt		61,850			45,054			2,245			8,031			92,747
Long-term debt - parent company		2,000			4,000			4,000			4,000			4,000
Long-term FHLB debt - affiliate banks		49,243			48,143			48,163			52,090			52,066
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		24,316			21,876			22,448			17,451			16,081
TOTAL LIABILITIES		2,402,350			2,350,077			2,293,259			2,279,683			2,335,871

STOCKHOLDERS' EQUITY
Capital stock		142			142			143			143			143
Surplus		49,068			49,607			51,380			53,723			54,429
Undivided profits		208,200			203,165			198,287			194,579			190,047
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(2,818	)		(5,735	)		(4,599	)		(4,360	)		(3,448	)
TOTAL STOCKHOLDERS' EQUITY		254,592			247,179			245,211			244,085			241,171

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,656,942		$	2,597,256		$	2,538,470		$	2,523,768		$	2,577,042

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)	2006			2006			2006			2005			2005
(In thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	78,708		$	77,064		$	77,676		$	85,534		$	78,418
Interest bearing balances due from banks		16,851			21,929			27,968			16,426			16,384
Federal funds sold		22,966			16,138			16,235			6,353			29,375
Cash and cash equivalents		118,525			115,131			121,879			108,313			124,177

Investment securities - held-to-maturity		167,182			157,252			147,697			147,779			150,654
Investment securities - available-for-sale		360,584			373,434			378,026			384,346			390,580
Mortgage loans held for sale		8,368			8,426			6,570			8,056			11,395
Assets held in trading accounts		4,598			4,575			4,632			4,688			4,711

Loans		1,769,131			1,716,396			1,696,855			1,714,132			1,689,883
Allowance for loan losses		(26,255	)		(26,997	)		(27,589	)		(27,308	)		(27,512	)
Net loans		1,742,876			1,689,399			1,669,266			1,686,824			1,662,371

Premises and equipment		66,044			65,485			64,560			62,633			60,497
Foreclosed assets held for sale, net		1,525			1,664			1,738			2,028			1,870
Interest receivable		20,922			18,092			18,030			19,121			17,038
Bank owned life insurance		35,226			33,778			33,408			33,102			32,832
Goodwill		60,605			60,605			60,605			60,554			60,454
Core deposit premiums		4,527			4,733			4,942			5,138			5,326
Other assets		13,215			12,688			12,046			11,718			12,809

TOTAL ASSETS	$	2,604,197		$	2,545,262		$	2,523,399		$	2,534,300		$	2,534,714

LIABILITIES
Non-interest bearing transaction accounts	$	302,490		$	311,102		$	316,118		$	314,491		$	303,387
Interest bearing transaction accounts and savings deposits		722,920			751,262			747,046			748,902			751,877
Time deposits less than $100,000		658,182			624,395			618,730			612,344			584,009
Time deposits greater than $100,000		416,693			394,492			378,426			372,170			372,549
Total deposits		2,100,285			2,081,251			2,060,320			2,047,907			2,011,822
Federal funds purchased and securities
sold under agreements to repurchase		93,670			96,041			109,299			109,065			92,508
Short-term debt		54,119			15,804			5,744			30,435			82,463
Long-term debt		80,826			82,957			83,961			85,808			88,242
Accrued interest and other liabilities		22,804			20,486			18,011			16,859			18,120
TOTAL LIABILITIES		2,351,704			2,296,539			2,277,335			2,290,074			2,293,155

TOTAL STOCKHOLDERS' EQUITY		252,493			248,723			246,064			244,226			241,559

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,604,197		$	2,545,262		$	2,523,399		$	2,534,300		$	2,534,714

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)	2006		2006		2006		2005		2005
(In thousands, except per share data)
INTEREST INCOME
Loans	$	33,924	$	31,694	$	30,087	$	30,425	$	29,225
Federal funds sold		325		192		175		63		262
Investment securities		5,183		4,978		4,830		4,751		4,693
Mortgage loans held for sale, net of unrealized gains (losses)		141		128		100		131		168
Assets held in trading accounts		14		19		25		24		25
Interest bearing balances due from banks		229		259		297		162		119
TOTAL INTEREST INCOME		39,816		37,270		35,514		35,556		34,492
INTEREST EXPENSE
Time deposits		11,381		9,732		8,724		8,051		7,031
Other deposits		3,023		2,909		2,544		2,268		2,015
Federal funds purchased and securities
sold under agreements to repurchase		1,152		1,064		1,104		1,016		815
Short-term debt		761		225		96		311		646
Long-term debt		1,122		1,148		1,094		1,095		1,113
TOTAL INTEREST EXPENSE		17,439		15,078		13,562		12,741		11,620
NET INTEREST INCOME		22,377		22,192		21,952		22,815		22,872
Provision for loan losses		602		789		1,708		1,630		1,736
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		21,775		21,403		20,244		21,185		21,136
NON-INTEREST INCOME
Trust income		1,435		1,293		1,367		1,425		1,430
Service charges on deposit accounts		3,973		4,209		3,763		4,097		4,154
Other service charges and fees		596		592		658		507		472
Income on sale of mortgage loans, net of commissions		763		755		676		698		827
Income on investment banking, net of commissions		55		90		107		51		146
Credit card fees		2,755		2,699		2,458		2,709		2,619
Premiums on sale of student loans		413		659		736		251		295
Bank owned life insurance income		382		415		301		317		279
Other income		654		804		546		623		518
Gain (loss) on sale of securities, net of taxes		-		-		-		-		-
TOTAL NON-INTEREST INCOME		11,026		11,516		10,612		10,678		10,740
NON-INTEREST EXPENSE
Salaries and employee benefits		13,298		13,466		13,505		13,039		12,703
Occupancy expense, net		1,612		1,541		1,520		1,527		1,483
Furniture and equipment expense		1,407		1,456		1,418		1,482		1,421
Loss on foreclosed assets		32		40		33		31		57
Deposit insurance		64		71		69		65		72
Other operating expenses		5,725		5,727		5,580		5,835		5,490
TOTAL NON-INTEREST EXPENSE		22,138		22,301		22,125		21,979		21,226
NET INCOME BEFORE INCOME TAXES		10,663		10,618		8,731		9,884		10,650
Provision for income taxes		3,219		3,322		2,743		3,059		3,316
NET INCOME	$	7,444	$	7,296	$	5,988	$	6,825	$	7,334
BASIC EARNINGS PER SHARE	$	0.53	$	0.51	$	0.42	$	0.48	$	0.51
DILUTED EARNINGS PER SHARE	$	0.51	$	0.51	$	0.41	$	0.47	$	0.50

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)	2006		2006		2006		2005			2005
(In thousands, except per share data)
INTEREST INCOME
Loans	$	95,705	$	61,781	$	30,087	$	112,238		$	81,813
Federal funds sold		692		367		175		925			863
Investment securities		14,991		9,808		4,830		18,677			13,926
Mortgage loans held for sale, net of unrealized gains (losses)		369		228		100		552			421
Assets held in trading accounts		58		44		25		99			74
Interest bearing balances due from banks		785		556		297		580			418
TOTAL INTEREST INCOME		112,600		72,784		35,514		133,071			97,515
INTEREST EXPENSE
Time deposits		29,837		18,456		8,724		26,431			18,381
Other deposits		8,476		5,453		2,544		7,777			5,508
Federal funds purchased and securities
sold under agreements to repurchase		3,320		2,168		1,104		3,104			2,088
Short-term debt		1,082		321		96		1,101			790
Long-term debt		3,364		2,242		1,094		4,401			3,306
TOTAL INTEREST EXPENSE		46,079		28,640		13,562		42,814			30,073
NET INTEREST INCOME		66,521		44,144		21,952		90,257			67,442
Provision for loan losses		3,099		2,497		1,708		7,526			5,895
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		63,422		41,647		20,244		82,731			61,547
NON-INTEREST INCOME
Trust income		4,095		2,660		1,367		5,589			4,164
Service charges on deposit accounts		11,945		7,972		3,763		15,818			11,721
Other service charges and fees		1,846		1,250		658		2,017			1,511
Income on sale of mortgage loans, net of commissions		2,194		1,431		676		2,919			2,221
Income on investment banking, net of commissions		252		197		107		416			364
Credit card fees		7,912		5,157		2,458		10,252			7,543
Premiums on sale of student loans		1,808		1,395		736		1,822			1,572
Bank owned life insurance income		1,059		716		301		953			636
Other income		2,043		1,350		546		2,700			2,078
Gain (loss) on sale of securities, net of taxes		-		-		-		(168	)		(168	)
TOTAL NON-INTEREST INCOME		33,154		22,128		10,612		42,318			31,642
NON-INTEREST EXPENSE
Salaries and employee benefits		40,269		26,971		13,505		51,270			38,231
Occupancy expense, net		4,673		3,061		1,520		5,840			4,314
Furniture and equipment expense		4,281		2,874		1,418		5,758			4,277
Loss on foreclosed assets		105		73		33		191			160
Deposit insurance		204		140		69		279			214
Other operating expenses		17,032		11,307		5,580		22,246			16,412
TOTAL NON-INTEREST EXPENSE		66,564		44,426		22,125		85,584			63,608
NET INCOME BEFORE INCOME TAXES		30,012		19,349		8,731		39,465			29,581
Provision for income taxes		9,284		6,065		2,743		12,503			9,444
NET INCOME	$	20,728	$	13,284	$	5,988	$	26,962		$	20,137
BASIC EARNINGS PER SHARE	$	1.46	$	0.93	$	0.42	$	1.88		$	1.40
DILUTED EARNINGS PER SHARE	$	1.43	$	0.92	$	0.41	$	1.84		$	1.37

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)	2006			2006			2006			2005			2005
(In thousands)
Tier 1 capital
Stockholders' equity	$	254,592		$	247,179		$	245,211		$	244,085		$	241,171
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(64,557	)		(64,781	)		(65,084	)		(65,047	)		(65,271	)
Unrealized loss (gain) on AFS securities		2,818			5,735			4,599			4,360			3,448
Other		-			-			-			-			-

Total Tier 1 capital		222,853			218,133			214,726			213,398			209,348

Tier 2 capital
Qualifying unrealized gain on AFS securities		177			173			317			338			357
Qualifying allowance for loan losses		23,103			22,359			21,468			21,815			21,952

Total Tier 2 capital		23,280			22,532			21,785			22,153			22,309

Total risk-based capital	$	246,133		$	240,665		$	236,511		$	235,551		$	231,657

Risk weighted assets	$	1,843,931		$	1,783,411		$	1,716,446		$	1,740,005		$	1,750,783

Adjusted average assets for leverage ratio	$	2,547,134		$	2,488,304		$	2,465,348		$	2,475,659		$	2,473,854

Ratios at end of quarter
Leverage ratio		8.75	%		8.77	%		8.71	%		8.62	%		8.46	%
Tier 1 capital		12.09	%		12.23	%		12.51	%		12.26	%		11.96	%
Total risk-based capital		13.35	%		13.49	%		13.78	%		13.54	%		13.23	%

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)	2006			2006			2006			2005			2005
(In thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	133,607		$	132,464		$	129,833		$	143,058		$	138,077
Student loans		86,875			77,085			91,090			89,818			89,759
Other consumer		146,039			140,631			140,958			138,051			136,626
Real Estate
Construction		267,604			248,834			242,145			238,898			227,063
Single-family residential		364,657			348,782			341,795			340,847			338,466
Other commercial		494,512			487,288			473,559			479,684			462,978
Unearned income		(4	)		(5	)		(5	)		(8	)		(8	)
Commercial
Commercial		175,576			188,480			181,174			184,920			177,682
Agricultural		103,301			86,244			59,944			68,761			105,107
Financial institutions		576			16,152			16,158			20,499			21,219
Other		15,774			12,673			14,369			13,579			12,403

Total Loans	$	1,788,517		$	1,738,628		$	1,691,020		$	1,718,107		$	1,709,372

Investment Securities - End of Period

Held-to-Maturity
U.S. Treasury	$	1,001		$	1,002		$	1,003		$	1,004		$	2,007
U.S. Government agencies		53,000			42,000			32,000			28,000			25,999
Mortgage-backed securities		161			167			180			187			197
State and political subdivisions		116,481			116,770			113,512			117,148			120,424
Other securities		2,301			4,673			2,038			3,960			2,496
Total held-to-maturity		172,944			164,612			148,733			150,299			151,123
Available-for-Sale
U.S. Treasury		6,749			7,398			10,201			10,887			17,363
U.S. Government agencies		331,709			335,618			350,688			340,990			346,309
Mortgage-backed securities		3,095			3,074			3,264			3,309			3,442
State and political subdivisions		1,373			1,373			2,139			3,053			3,169
FHLB stock		7,674			7,693			6,150			6,044			11,320
Other securities		7,961			8,061			8,175			7,207			7,245
Total available-for-sale		358,561			363,217			380,617			371,490			388,848

Total investment securities	$	531,505		$	527,829		$	529,350		$	521,789		$	539,971

Fair Value - HTM investment securities	$	172,951		$	161,655		$	147,589		$	149,173		$	151,192

Investment Securities - QTD Average

Taxable securities	$	410,382		$	411,388		$	409,238		$	412,483		$	419,204
Tax exempt securities		117,384			119,298			116,485			119,642			122,030

Total investment securities - QTD average	$	527,766		$	530,686		$	525,723		$	532,125		$	541,234

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)	2006			2006			2006			2005			2005
(In thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	26,174		$	26,463		$	26,923		$	27,330		$	27,013

Loans charged off
Credit cards		661			600			593			1,455			1,157
Other consumer		352			223			272			299			341
Real estate		74			741			260			262			444
Commercial		717			182			209			532			1,217
Total loans charged off		1,804			1,746			1,334			2,548			3,159

Recoveries of loans previously charged off
Credit cards		291			271			236			192			245
Other consumer		147			156			153			131			214
Real estate		87			213			198			46			128
Commercial		382			28			104			142			1,153
Total recoveries		907			668			691			511			1,740
Net loans charged off		897			1,078			643			2,037			1,419
Reclass to reserve for unfunded commitments		-			-			(1,525	)		-			-
Provision for loan losses		602			789			1,708			1,630			1,736
Balance, end of quarter	$	25,879		$	26,174		$	26,463		$	26,923		$	27,330

Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	7,674		$	6,266		$	4,497		$	5,598		$	6,069
Commercial		1,054			2,160			1,328			602			1,026
Consumer		1,089			1,130			1,005			1,096			1,193
Total nonaccrual loans		9,817			9,556			6,830			7,296			8,288
Loans past due 90 days or more		1,029			1,210			1,974			1,131			1,181
Total non-performing loans		10,846			10,766			8,804			8,427			9,469

Other non-performing assets
Foreclosed assets held for sale		1,413			1,740			1,666			1,540			2,120
Other non-performing assets		16			-			11			16			78
Total other non-performing assets		1,429			1,740			1,677			1,556			2,198

Total non-performing assets	$	12,275		$	12,506		$	10,481		$	9,983		$	11,667

Ratios
Allowance for loan losses to total loans		1.45	%		1.51	%		1.56	%		1.57	%		1.60	%
Allowance for loan losses to
non-performing loans		238.60	%		243.12	%		300.58	%		319.48	%		288.63	%
Allowance for loan losses to
non-performing assets		210.83	%		209.29	%		252.49	%		269.69	%		234.25	%
Non-performing assets ratio *		0.69	%		0.72	%		0.62	%		0.58	%		0.68	%
Non-performing loans to total loans		0.61	%		0.62	%		0.52	%		0.49	%		0.55	%
Non-performing assets to total assets		0.46	%		0.48	%		0.41	%		0.40	%		0.45	%
Annualized net charge offs to total loans		0.20	%		0.25	%		0.15	%		0.47	%		0.33	%
Annualized net charge offs to total loans
(excluding credit cards)		0.13	%		0.19	%		0.07	%		0.20	%		0.13	%

* 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	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
(Unaudited)	2006			2006			2006			2005			2005
(In thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.51		$	0.51		$	0.41		$	0.47		$	0.50
Operating earnings (excludes nonrecurring items)		7,444			7,296			5,988			6,825			7,334
Diluted operating earnings per share		0.51			0.51			0.41			0.47			0.50
Cash dividends declared per common share		0.17			0.17			0.16			0.16			0.15
Cash dividends declared - amount		2,413			2,418			2,280			2,293			2,152
Return on average stockholders' equity		11.70	%		11.77	%		9.87	%		11.09	%		12.05	%
Return on average assets		1.13	%		1.15	%		0.96	%		1.07	%		1.15	%
Net interest margin (FTE)		3.91	%		4.01	%		4.05	%		4.10	%		4.10	%
FTE Adjustment - investments		707			718			695			701			714
FTE Adjustment - loans		89			86			85			88			89
Amortization of intangibles		207			209			207			208			207
Amortization of intangibles, net of taxes		130			132			130			131			130
Average shares outstanding		14,195,844			14,247,973			14,265,085			14,329,026			14,357,059
Shares repurchased		24,000			75,400			89,500			29,458			44,835
Average price of repurchased shares		27.93			26.74			28.12			27.81			27.39
Average earning assets		2,349,680			2,298,150			2,277,983			2,281,780			2,292,982
Average interest bearing liabilities		2,026,410			1,964,951			1,943,206			1,958,724			1,971,648

YEAR-TO-DATE
Diluted earnings per share	$	1.43		$	0.92		$	0.41		$	1.84		$	1.37
Operating earnings (excludes nonrecurring items)		20,728			13,284			5,988			26,962			20,137
Diluted operating earnings per share		1.43			0.92			0.41			1.84			1.37
Cash dividends declared per common share		0.50			0.33			0.16			0.61			0.45
Return on average stockholders' equity		11.13	%		10.83	%		9.87	%		11.24	%		11.29	%
Return on average assets		1.08	%		1.06	%		0.96	%		1.08	%		1.08	%
Net interest margin (FTE)		3.99	%		4.03	%		4.05	%		4.13	%		4.14	%
FTE Adjustment - investments		2,120			1,413			695			2,891			2,190
FTE Adjustment - loans		260			171			85			343			255
Amortization of intangibles		623			416			207			829			621
Amortization of intangibles, net of taxes		392			262			130			522			391
Average shares outstanding		14,236,047			14,256,482			14,265,085			14,375,005			14,385,842
Diluted shares outstanding		255,393			259,130			274,270			311,922			297,548
Average earning assets		2,308,604			2,288,068			2,277,983			2,264,402			2,258,545
Average interest bearing liabilities		1,978,189			1,954,077			1,943,206			1,937,085			1,929,791

END OF PERIOD
Book value	$	17.94		$	17.41		$	17.19		$	17.04		$	16.82
Shares outstanding		14,188,008			14,199,100			14,264,144			14,326,923			14,337,803
Full-time equivalent employees		1,121			1,140			1,111			1,110			1,099
Total number of ATM's		88			88			87			86			83
Total number of financial centers		81			81			80			79			77
Parent company only - investment in subsidiaries		272,909			267,177			267,732			265,714			263,991
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: October 19, 2006		/s/ Robert A. Fehlman
		Robert A. Fehlman, Executive Vice President and Chief Financial Officer