SIMMONS FIRST NATIONAL CORP - FORM 8-K - EX-99 - EXHIBIT 99.1

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8-K - FORM 8-K - SIMMONS FIRST NATIONAL CORP	f8k_042111.htm

Exhibit 99.1

SIMMONS FIRST ANNOUNCES FIRST QUARTER EARNINGS

PINE BLUFF, Ark., April 21, 2011 (GLOBE NEWSWIRE) -- Simmons First National Corporation (Nasdaq:SFNC) today announced core net income of $5.2 million for the quarter ended March 31, 2011, an increase of $225,000, or 4.5%, compared to the same period in 2010. Diluted core earnings per share for the quarter ended March 31, 2011 were $0.30, compared to $0.29 for 2010.

Core earnings exclude $115,000 in after-tax merger related expenses associated with the Company's 2010 FDIC-assisted acquisitions. Including the merger related expenses, net income for the first quarter of 2011 was $5.1 million, or $0.29 diluted earnings per share.

"While we are somewhat disappointed with the lack of loan demand throughout our markets, it was expected based on the economy. Considering the challenges of the economy and the negative impact of historically low interest rates on margins, we are pleased with our first quarter earnings performance," commented J. Thomas May, Chairman and CEO.

Total assets were $3.3 billion at March 31, 2011, an increase of 5.6% from $3.1 billion at March 31, 2010.

Loans

Total loans, including those covered by FDIC loss share agreements, were $1.8 billion at March 31, 2011, a decrease of 1.2% from the same period in 2010. "In our legacy portfolio, we experienced a decrease of $231 million, or 12.5%, compared to March 31, 2010. As expected, we saw a $96 million decrease in our student loan portfolio as a result of the irrational decision by the administration and congress to eliminate the private sector from providing student loans. Additionally, like the rest of the industry, we continue to experience weak loan demand as a result of a slow economy. We believe loan demand is likely to remain soft throughout the remainder of 2011, but we are committed and positioned to meet the borrowing needs of our consumer and business customers," commented May. Loans covered by FDIC loss share agreements, which provide 80% Government guaranteed protection against credit risk on those covered assets, were $209 million at March 31, 2011.

Deposits

At March 31, 2011, total deposits were $2.6 billion, an increase of $173 million, or 7.1%, compared to the same period in 2010. The March 31, 2011, deposits include $212 million of deposits in Missouri and Kansas. "We continue to emphasize core deposit growth and were able to achieve more than 22% growth, on average, of non-interest bearing deposits. We are very pleased with our ratio of non-time deposits as a percent of total deposits, which is a very favorable 64%," added May.

Net Interest Income

The Company's net interest income for the first quarter of 2011 increased 9.9% to $26.8 million compared to the same period of 2010. Net interest margin increased 16 basis points to 3.87% from the first quarter of 2010. The increase in both net interest income and margin was primarily due to a higher yield on covered loans acquired through acquisitions compared to the yield on loans in the Company's legacy portfolio.

Non-Interest Income

Non-interest income for the first quarter increased $432,000, or 3.5%, to $12.6 million compared to $12.2 million for the first quarter of 2010. Credit card fees increased $266,000, or 7.2%, due to a higher volume of credit and debit card transactions. Other non-interest income increased by $356,000 over the same period last year primarily due to accretion on assets acquired through FDIC-assisted transactions in 2010. In contrast, non-interest income was negatively impacted by a $444,000 decrease in service charges on deposit accounts, primarily due to lower fee income as a result of regulatory changes related to overdraft charges on point-of-sale transactions.

Non-Interest Expense

Non-interest expense for the first quarter of 2011 was $30.0 million, an increase of $3.2 million, compared to the same period in 2010. "This increase includes $2.7 million in normal operating expense at our Missouri and Kansas regions and $190,000 in merger related costs. Normalizing for these expenses, non-interest expense increased by less than 1%, compared to last year. This modest increase is the result of the implementation of our efficiency initiatives. Obviously, we are beginning to see the positive impact from our efficiency initiatives," according to May. "Initiatives related to revenue enhancements, process improvement and branch staffing levels are well into the implementation phase."

Asset Quality

During 2010, the Company acquired loans and foreclosed real estate ("OREO") through FDIC-assisted acquisitions. Through the loss share provisions of the purchase and assumption agreements, the FDIC agreed to reimburse the Company for 80% of the losses incurred on the disposition of such loans and OREO. The loans and OREO covered by the FDIC loss share agreements and the related FDIC loss share indemnification asset were presented in the Company's financial reports as "covered" assets (i.e., covered by the FDIC loss share agreements) with a carrying value equal to the discounted net present value of expected future proceeds. At March 31, 2011, loans covered by loss share were carried at $209 million (net of discount), OREO covered by loss share was carried at $13 million (net of discount) and the FDIC loss share indemnification asset was carried at $59 million. As a result of the FDIC loss share indemnification related to these assets and the discounted net present value method of valuing these assets, such assets are excluded from the computations of the following asset quality ratios, except for their inclusion in total assets.

The Company's allowance for loan losses was $27.9 million at March 31, 2011, or 1.72% of total loans and 144% of non-performing loans. Non-performing assets as a percent of total assets were 1.32% as of March 31, 2011, an increase from 1.12% as of December 31, 2010. Non-performing loans as a percent of total loans were 1.19% as of March 31, 2011, an increase of 36 basis points from 0.83% as of December 31, 2010. These ratios include $2.6 million of Government guaranteed student loans that were over 90 days past due at the end of the quarter. Excluding the guaranteed past due student loans, non-performing assets as a percent of total assets were 1.24% and non-performing loans as a percent of total loans were 1.03%. "The increase in non-performings was primarily related to two classified credits, previously reported as TDRs, moving to a nonaccrual status" commented May. "As a result of this reclassification, non-performing assets, including TDRs, as a percent of total assets were 1.65%, compared to 1.71% at Q4 2010."

Excluding credit cards, the Company's annualized net charge-off ratio was 0.07% for the first quarter of 2011. The credit card annualized net charge-off ratio decreased to 2.06%, compared to 2.71% for the first quarter of 2010. The Company's credit card loss ratio is more than 500 basis points below the most recently published credit card charge-off industry average of over 7.5%.

Capital

At March 31, 2011, stockholders' equity was $400 million, book value per share was $23.06 and tangible book value per share was $19.43. The Company's ratio of stockholders' equity to total assets was 12.2% and its ratio of tangible stockholders' equity to tangible assets was 10.5%, as of March 31, 2011.

"Our exceptional level of capital puts us in the 97th percentile of our peer group and allows us to actively pursue the right opportunities that meet our strategic plan regarding mergers and acquisitions," continued May. As of March 31, 2011, the Company's regulatory capital ratios remain significantly higher than regulatory "well capitalized" guidelines:

	“Well Capitalized”			SFNC
Tier 1 Leverage Ratio		5.00	%		11.74	%
Tier 1 Risk-Based Capital Ratio		6.00	%		20.99	%
Total Risk-Based Capital Ratio		10.00	%		22.24	%

Simmons First National Corporation

Simmons First National Corporation is an eight bank financial holding company with 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 89 offices, of which 85 are financial centers, in 47 communities in Arkansas, Missouri and Kansas. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "SFNC".

The Simmons First National Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4819

Conference Call

Management will conduct a conference call to review this information beginning at 3:00 p.m. Central Time on Thursday, April 21, 2011. Interested persons can listen to this call by dialing 1-800-854-4175 (United States and Canada only) and asking for the Simmons First National Corporation conference call. A replay of the call will be available through 5:00 p.m. Central Time on April 28, 2011, by dialing 1-800-642-1687. The passcode for the replay is 58112452. In addition, the call will be available live or in recorded version on the Company's website at www.simmonsfirst.com.

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or nonrecurring transactions. Since the presentation of these GAAP performance measures and their impact differ between companies, management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Forward Looking Statements

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	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	35,923		$	33,717		$	77,874		$	80,883		$	61,975
Interest bearing balances due from banks		473,247			418,343			247,300			161,443			365,396
Federal funds sold		-			-			750			2,750			-
Cash and cash equivalents		509,170			452,060			325,924			245,076			427,371
Investment securities - held-to-maturity		501,745			465,183			461,548			436,018			432,004
Investment securities - available-for-sale		119,847			148,479			183,942			224,031			156,096
Mortgage loans held for sale		6,618			17,237			25,383			18,298			6,930
Assets held in trading accounts		7,468			7,577			7,412			7,827			7,521
Loans		1,619,374			1,683,464			1,739,554			1,822,028			1,849,960
Allowance for loan losses		(27,905	)		(26,416	)		(25,682	)		(25,881	)		(25,047	)
Net loans		1,591,469			1,657,048			1,713,872			1,796,147			1,824,913
Covered assets:
Loans, net of discount		208,774			231,600			38,160			39,346			-
Other real estate owned, net of discount		12,933			8,717			2,650			3,609			-
FDIC indemnification asset		58,520			60,235			9,600			12,614			-
Premises and equipment		82,948			77,199			77,967			76,349			77,408
Foreclosed assets held for sale, net		23,686			23,204			23,903			20,091			18,744
Interest receivable		15,382			17,363			16,884			16,264			16,421
Bank owned life insurance		49,475			49,072			48,662			48,258			47,667
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		2,239			2,463			1,194			1,381			1,568
Other assets		18,511			38,390			20,451			19,211			20,251
Total assets	$	3,269,390		$	3,316,432		$	3,018,157		$	3,025,125		$	3,097,499

LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	459,628		$	428,750		$	374,494		$	358,171		$	385,495
Interest bearing transaction accounts and savings deposits		1,217,718			1,220,133			1,146,433			1,172,746			1,167,836
Time deposits less than $100,000		537,070			599,537			483,285			496,809			482,181
Time deposits greater than $100,000		387,000			360,349			377,957			365,868			392,757
Total deposits		2,601,416			2,608,769			2,382,169			2,393,594			2,428,269
Federal funds purchased and securities
sold under agreements to repurchase		107,099			109,139			85,561			84,456			131,750
Short-term debt		718			1,033			1,728			3,202			3,263
Long-term debt		127,344			164,324			136,829			138,893			139,183
Accrued interest and other liabilities		33,266			35,796			27,901			25,836			21,780
Total liabilities		2,869,843			2,919,061			2,634,188			2,645,981			2,724,245

Stockholders' equity:
Preferred stock		-			-			-			-			-
Common stock		173			173			172			172			172
Surplus		114,537			114,040			113,376			112,851			112,250
Undivided profits		284,420			282,646			269,369			265,021			260,310
Accumulated other comprehensive income
Unrealized appreciation on AFS securities		417			512			1,052			1,100			522
Total stockholders' equity		399,547			397,371			383,969			379,144			373,254
Total liabilities and stockholders' equity	$	3,269,390		$	3,316,432		$	3,018,157		$	3,025,125		$	3,097,499

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	34,869		$	71,780		$	75,606		$	76,983		$	75,267
Interest bearing balances due from banks		463,858			400,174			159,996			240,847			290,990
Federal funds sold		583			1,208			3,477			1,044			1,015
Cash and cash equivalents		499,310			473,162			239,079			318,874			367,272
Investment securities - held-to-maturity		493,128			462,328			457,368			421,878			453,740
Investment securities - available-for-sale		120,085			180,634			197,419			228,972			186,503
Mortgage loans held for sale		7,445			27,832			19,842			13,560			5,815
Assets held in trading accounts		7,598			7,615			7,438			7,092			6,968
Loans		1,633,298			1,697,937			1,809,902			1,831,766			1,863,850
Allowance for loan losses		(27,073	)		(23,316	)		(26,396	)		(25,584	)		(25,849	)
Net loans		1,606,225			1,674,621			1,783,506			1,806,182			1,838,001
Covered assets:
Loans, net of discount		219,956			256,619			38,956			24,074			-
Other real estate owned, net of discount		9,171			12,978			3,056			2,632			-
FDIC indemnification asset		59,777			32,008			12,601			4,544			-
Premises and equipment		80,516			77,876			76,673			77,330			77,939
Foreclosed assets held for sale, net		23,382			23,658			22,540			18,727			9,238
Interest receivable		15,831			18,325			15,451			16,928			17,005
Bank owned life insurance		49,275			48,868			48,463			47,915			42,023
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		2,363			1,612			1,300			1,484			1,684
Other assets		29,784			20,515			18,800			20,415			18,308
Total assets	$	3,284,451		$	3,379,256		$	3,003,097		$	3,071,212		$	3,085,101

LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing transaction accounts	$	436,272		$	416,343		$	363,599		$	366,340		$	357,483
Interest bearing transaction accounts and savings deposits		1,216,903			1,239,736			1,143,827			1,176,180			1,166,643
Time deposits less than $100,000		570,426			617,288			493,890			500,070			491,603
Time deposits greater than $100,000		370,004			364,481			366,375			385,736			409,137
Total deposits		2,593,605			2,637,848			2,367,691			2,428,326			2,424,866
Federal funds purchased and securities
sold under agreements to repurchase		114,491			111,594			82,708			98,995			114,376
Short-term debt		865			2,094			3,241			3,455			3,751
Long-term debt		139,728			166,774			137,631			138,375			145,387
Accrued interest and other liabilities		34,480			67,113			27,600			22,890			21,386
Total liabilities		2,883,169			2,985,423			2,618,871			2,692,041			2,709,766
Total stockholders' equity		401,282			393,833			384,226			379,171			375,335
Total liabilities and stockholders' equity	$	3,284,451		$	3,379,256		$	3,003,097		$	3,071,212		$	3,085,101

Simmons First National Corporation									SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Mar 31		Dec 31		Sep 30		Jun 30		Mar 31
(Unaudited)	2011		2010		2010		2010		2010
(in thousands, except per share data)
INTEREST INCOME
Loans	$	24,094	$	25,649	$	26,934	$	26,691	$	26,788
Covered loans		4,341		3,127		864		213		-
Federal funds sold		1		3		6		2		4
Investment securities		3,705		4,030		4,182		4,465		4,531
Mortgage loans held for sale, net of unrealized gains (losses)		88		286		210		149		70
Assets held in trading accounts		9		10		7		11		2
Interest bearing balances due from banks		235		234		123		173		191
TOTAL INTEREST INCOME		32,473		33,339		32,326		31,704		31,586
INTEREST EXPENSE
Time deposits		3,134		3,500		3,369		3,522		3,919
Other deposits		1,042		1,156		1,236		1,317		1,518
Federal funds purchased and securities
sold under agreements to repurchase		116		134		126		123		149
Short-term debt		12		13		15		15		15
Long-term debt		1,335		2,260		1,524		1,522		1,573
TOTAL INTEREST EXPENSE		5,639		7,063		6,270		6,499		7,174
NET INTEREST INCOME		26,834		26,276		26,056		25,205		24,412
Provision for loan losses		2,675		3,733		3,407		3,758		3,231
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		24,159		22,543		22,649		21,447		21,181
NON-INTEREST INCOME
Trust income		1,346		1,416		1,343		1,170		1,250
Service charges on deposit accounts		3,857		4,272		4,388		4,739		4,301
Other service charges and fees		806		716		646		671		779
Income on sale of mortgage loans, net of commissions		626		2,033		1,242		932		603
Income on investment banking, net of commissions		600		486		369		776		605
Credit card fees		3,943		4,448		3,972		4,043		3,677
Premiums on sale of student loans		-		-		1,979		545		-
Bank owned life insurance income		403		410		404		566		290
Gain on sale of securities		-		317		-		-		-
Gain on FDIC assisted transactions		-		18,277		-		3,037		-
Other income		1,051		1,286		479		769		695
TOTAL NON-INTEREST INCOME		12,632		33,661		14,822		17,248		12,200
NON-INTEREST EXPENSE
Salaries and employee benefits		17,116		15,692		14,809		15,064		15,166
Occupancy expense, net		2,189		2,176		1,906		1,844		1,882
Furniture and equipment expense		1,589		1,530		1,542		1,526		1,495
Other real estate and foreclosure expense		94		298		304		314		58
Deposit insurance		1,039		914		885		1,059		955
Merger related costs		190		2,034		134		443		-
Other operating expenses		7,758		7,846		7,178		7,026		7,240
TOTAL NON-INTEREST EXPENSE		29,975		30,490		26,758		27,276		26,796
NET INCOME BEFORE INCOME TAXES		6,816		25,714		10,713		11,419		6,585
Provision for income taxes		1,750		9,154		3,093		3,438		1,629
NET INCOME	$	5,066	$	16,560	$	7,620	$	7,981	$	4,956
BASIC EARNINGS PER SHARE	$	0.29	$	0.96	$	0.45	$	0.46	$	0.29
DILUTED EARNINGS PER SHARE	$	0.29	$	0.96	$	0.44	$	0.46	$	0.29

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands)
Tier 1 capital
Stockholders' equity	$	399,547		$	397,371		$	383,969		$	379,144		$	373,254
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of deferred tax		(49,447	)		(49,953	)		(48,986	)		(49,476	)		(50,503	)
Unrealized gain on AFS securities		(417	)		(512	)		(1,052	)		(1,100	)		(522	)

Total Tier 1 capital		379,683			376,906			363,931			358,568			352,229

Tier 2 capital
Qualifying unrealized gain on AFS equity securities		14			7			4			1			8
Qualifying allowance for loan losses		22,700			23,553			23,729			23,737			23,574

Total Tier 2 capital		22,714			23,560			23,733			23,738			23,582

Total risk-based capital	$	402,397		$	400,466		$	387,664		$	382,306		$	375,811

Risk weighted assets	$	1,809,241		$	1,879,832		$	1,894,845		$	1,895,258		$	1,882,902

Adjusted average assets for leverage ratio	$	3,234,262		$	3,327,825		$	2,952,227		$	3,020,704		$	3,033,367

Ratios at end of quarter
Equity to assets		12.22	%		11.98	%		12.72	%		12.53	%		12.05	%
Tangible common equity to tangible assets		10.50	%		10.28	%		10.90	%		10.70	%		10.25	%
Tier 1 leverage ratio		11.74	%		11.33	%		12.33	%		11.87	%		11.61	%
Tier 1 risk-based capital ratio		20.99	%		20.05	%		19.21	%		18.92	%		18.71	%
Total risk-based capital ratio		22.24	%		21.30	%		20.46	%		20.17	%		19.96	%

Simmons First National Corporation									SFNC
Consolidated Loans and Investments
For the Quarters Ended	Mar 31		Dec 31		Sep 30		Jun 30		Mar 31
(Unaudited)	2011		2010		2010		2010		2010
(in thousands)
Loan Portfolio - End of Period (1)
Consumer
Credit cards	$	176,544	$	190,329	$	181,774	$	180,591	$	177,959
Student loans		57,181		61,305		64,989		133,012		153,291
Other consumer		110,954		118,581		123,062		127,343		131,735
Total consumer		344,679		370,215		369,825		440,946		462,985
Real Estate
Construction		142,261		153,772		150,137		153,869		173,080
Single-family residential		358,152		364,442		375,150		386,570		389,257
Other commercial		546,659		548,360		566,370		574,859		592,728
Total real estate		1,047,072		1,066,574		1,091,657		1,115,298		1,155,065
Commercial
Commercial		144,298		150,501		146,258		151,817		155,970
Agricultural		72,205		86,171		121,716		104,247		65,964
Financial institutions		-		-		-		-		4,093
Total commercial		216,503		236,672		267,974		256,064		226,027
Other		11,120		10,004		10,098		9,720		5,883
Total Loans	$	1,619,374	$	1,683,465	$	1,739,554	$	1,822,028	$	1,849,960

(1) Excludes loans covered by FDIC loss share agreements.

Investment Securities - End of Period
Held-to-Maturity
U.S. Treasury	$	4,000	$	4,000	$	4,000	$	4,000	$	-
U.S. Government agencies		289,844		249,844		250,927		224,928		221,885
Mortgage-backed securities		75		78		81		84		88
State and political subdivisions		206,896		210,331		205,610		206,076		209,101
Other securities		930		930		930		930		930
Total held-to-maturity		501,745		465,183		461,548		436,018		432,004
Available-for-Sale
U.S. Treasury		-		-		-		300		4,008
U.S. Government agencies		97,830		125,469		166,624		206,497		135,038
Mortgage-backed securities		2,657		2,789		2,993		3,008		2,996
FHLB stock		9,604		11,508		7,549		7,490		7,484
Other securities		9,756		8,713		6,776		6,736		6,570
Total available-for-sale		119,847		148,479		183,942		224,031		156,096
Total investment securities	$	621,592	$	613,662	$	645,490	$	660,049	$	588,100
Fair value - HTM investment securities	$	505,150	$	466,907	$	469,101	$	440,603	$	435,810

Investment Securities - QTD Average
Taxable securities	$	405,257	$	435,839	$	448,978	$	443,946	$	432,736
Tax exempt securities		207,956		207,123		205,809		206,904		207,507
Total investment securities - QTD average	$	613,213	$	642,962	$	654,787	$	650,850	$	640,243

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	26,416		$	25,682		$	25,881		$	25,047		$	25,016
Loans charged off
Credit cards		1,156			1,218			1,329			1,339			1,435
Other consumer		289			560			559			852			500
Real estate		343			1,361			3,548			2,254			2,401
Commercial		95			567			164			288			227
Total loans charged off		1,883			3,706			5,600			4,733			4,563

Recoveries of loans previously charged off
Credit cards		237			225			308			273			229
Other consumer		154			128			150			313			293
Real estate		247			275			1,512			1,169			701
Commercial		59			79			24			54			140
Total recoveries		697			707			1,994			1,809			1,363
Net loans charged off		1,186			2,999			3,606			2,924			3,200
Provision for loan losses		2,675			3,733			3,407			3,758			3,231
Balance, end of quarter	$	27,905		$	26,416		$	25,682		$	25,881		$	25,047

Non-performing assets (1)
Non-performing loans
Nonaccrual loans
Real estate	$	12,872		$	8,345		$	7,588		$	10,930		$	8,442
Commercial		1,173			1,314			1,160			1,091			1,673
Consumer		1,546			1,527			1,251			1,403			1,604
Total nonaccrual loans		15,591			11,186			9,999			13,424			11,719
Loans past due 90 days or more
Government guaranteed student loans		2,627			1,736			2,154			3,230			2,464
Other loans		1,117			969			891			644			1,132
Total loans past due 90 days or more		3,744			2,705			3,045			3,874			3,596
Total non-performing loans		19,335			13,891			13,044			17,298			15,315
Other non-performing assets
Foreclosed assets held for sale		23,686			23,204			23,903			20,091			18,744
Other non-performing assets		246			109			104			128			15
Total other non-performing assets		23,932			23,313			24,007			20,219			18,759
Total non-performing assets	$	43,267		$	37,204		$	37,051		$	37,517		$	34,074
Performing TDRs	$	10,653		$	19,426		$	14,607		$	16,101		$	15,776

Ratios (1)
Allowance for loan losses to total loans		1.72	%		1.57	%		1.48	%		1.42	%		1.35	%
Allowance for loan losses to non-performing loans		144.32	%		190.17	%		196.89	%		149.62	%		163.55	%
Non-performing loans to total loans		1.19	%		0.83	%		0.75	%		0.95	%		0.83	%
Non-performing assets (including TDRs) to total assets		1.65	%		1.71	%		1.71	%		1.77	%		1.61	%
Non-performing assets to total assets		1.32	%		1.12	%		1.23	%		1.24	%		1.10	%
Non-performing assets to total assets
(excluding Gov't guaranteed student loans)		1.24	%		1.07	%		1.16	%		1.13	%		1.02	%
Annualized net charge offs to total loans		0.29	%		0.70	%		0.79	%		0.64	%		0.70	%
Annualized net credit card charge offs to
total credit card loans		2.06	%		2.14	%		2.24	%		2.41	%		2.71	%
Annualized net charge offs to total loans
(excluding credit cards)		0.07	%		0.52	%		0.63	%		0.45	%		0.48	%
Past due loans >30 days (excluding nonaccrual)		1.41	%		0.95	%		0.74	%		0.56	%		1.02	%

(1) Excludes assets covered by FDIC loss share agreements, except for their inclusion in total assets.

Simmons First National Corporation													SFNC
Consolidated - Net Interest Income Analysis
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010

ASSETS

Earning Assets
Interest bearing balances due from banks		0.21	%		0.23	%		0.31	%		0.29	%		0.27	%
Federal funds sold		0.70	%		0.99	%		0.68	%		0.77	%		1.60	%
Investment securities		3.27	%		3.24	%		3.29	%		3.52	%		3.66	%
Mortgage loans held for sale		4.79	%		4.08	%		4.20	%		4.41	%		4.88	%
Assets held in trading accounts		0.48	%		0.52	%		0.37	%		0.62	%		0.12	%
Loans, including covered loans (1)		6.23	%		5.84	%		5.97	%		5.82	%		5.83	%
Total interest earning assets		4.64	%		4.52	%		4.94	%		4.77	%		4.74	%


LIABILITIES

Interest bearing liabilities
Interest bearing transaction and
savings accounts		0.35	%		0.37	%		0.43	%		0.45	%		0.53	%
Time deposits		1.35	%		1.41	%		1.55	%		1.59	%		1.76	%
Total interest bearing deposits		0.79	%		0.83	%		0.91	%		0.94	%		1.07	%
Federal funds purchased and securities
sold under agreement to repurchase		0.41	%		0.48	%		0.60	%		0.50	%		0.53	%
Short-term debt		5.63	%		2.46	%		1.84	%		1.74	%		1.62	%
Long-term debt		3.87	%		5.38	%		4.39	%		4.41	%		4.39	%
Total interest bearing liabilities		0.95	%		1.12	%		1.12	%		1.13	%		1.25	%

NET INTEREST MARGIN/SPREAD

Net interest spread		3.69	%		3.40	%		3.82	%		3.64	%		3.49	%
Net interest margin - quarter-to-date		3.87	%		3.60	%		4.02	%		3.83	%		3.71	%
Net interest margin - year-to-date		3.87	%		3.78	%		3.85	%		3.77	%		3.71	%

(1) Covered loans are loans covered by FDIC loss share agreements.

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.29		$	0.96		$	0.44		$	0.46		$	0.29
Core earnings (excludes nonrecurring items) (non-GAAP)		5,181			6,856			7,701			6,528			4,956
Diluted core earnings per share (non-GAAP)		0.30			0.40			0.44			0.38			0.29
Cash dividends declared per common share		0.19			0.19			0.19			0.19			0.19
Cash dividends declared - amount		3,292			3,282			3,273			3,270			3,266
Return on average stockholders' equity		5.12	%		16.68	%		7.87	%		8.44	%		5.36	%
Return on tangible equity		6.24	%		19.97	%		9.52	%		10.24	%		6.58	%
Return on average assets		0.63	%		1.94	%		1.01	%		1.04	%		0.65	%
Net interest margin (FTE)		3.87	%		3.60	%		4.02	%		3.83	%		3.71	%
FTE adjustment - investments		1,239			1,216			1,243			1,245			1,250
FTE adjustment - loans		13			14			14			14			16
Amortization of intangibles		224			211			187			187			201
Amortization of intangibles, net of taxes		136			128			114			114			127
Average shares outstanding		17,296,684			17,255,366			17,220,572			17,199,705			17,139,732
Average earning assets		2,945,951			3,034,347			2,694,398			2,769,233			2,808,881
Average interest bearing liabilities		2,412,417			2,501,967			2,227,672			2,302,811			2,330,897

YEAR-TO-DATE
Diluted earnings per share	$	0.29		$	2.15		$	1.19		$	0.75		$	0.29
Core earnings (excludes nonrecurring items) (non-GAAP)		5,181			26,041			19,185			11,484			4,956
Diluted core earnings per share (non-GAAP)		0.30			1.51			1.11			0.67			0.29
Cash dividends declared per common share		0.19			0.76			0.57			0.38			0.19
Return on average stockholders' equity		5.12	%		9.69	%		7.24	%		6.92	%		5.36	%
Return on tangible equity		6.24	%		11.71	%		8.80	%		8.43	%		6.58	%
Return on average assets		0.63	%		1.18	%		0.90	%		0.85	%		0.65	%
Net interest margin (FTE)		3.87	%		3.78	%		3.85	%		3.77	%		3.71	%
FTE adjustment - investments		1,239			4,954			3,738			2,495			1,250
FTE adjustment - loans		13			58			44			30			16
Amortization of intangibles		224			786			575			388			201
Amortization of intangibles, net of taxes		136			483			355			241			127
Average shares outstanding		17,296,684			17,204,200			17,186,957			17,169,872			17,139,732
Average diluted shares outstanding		17,329,740			17,264,900			17,248,878			17,237,990			17,212,980
Average earning assets		2,945,951			2,826,718			2,757,509			2,789,058			2,808,881
Average interest bearing liabilities		2,412,417			2,340,838			2,287,127			2,316,854			2,330,897

END OF PERIOD
Book value per share	$	23.06		$	23.01		$	22.28		$	22.03		$	21.72
Tangible book value per share		19.43			19.36			18.70			18.43			18.10
Shares outstanding		17,327,601			17,271,594			17,230,920			17,209,973			17,186,263
Full-time equivalent employees		1,082			1,075			1,029			1,045			1,057
Total number of ATM's		103			103			93			93			93
Total number of financial centers		85			85			76			76			84
Parent company only - investment in subsidiaries		372,773			370,402			322,730			319,814			305,182
Parent company only - intangible assets		133			133			133			133			133

Simmons First National Corporation													SFNC
Consolidated - Reconciliation of Core Earnings (non-GAAP)
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2011			2010			2010			2010			2010
(in thousands, except per share data)
QUARTER-TO-DATE
Net Income	$	5,066		$	16,560		$	7,620		$	7,981		$	4,956
Nonrecurring items
Gain on FDIC assisted transactions		-			(18,277	)		-			(3,037	)		-
Merger related costs		190			2,034			134			443			-
Gains from sale of securities (1)		-			(318	)		-			-			-
FHLB prepayment penalties (2)		-			594			-			-			-
Branch right sizing		-			-			-			372			-
Tax effect (3)		(75	)		6,263			(53	)		769			-
Net nonrecurring items		115			(9,704	)		81			(1,453	)		-
Core earnings (non-GAAP)	$	5,181		$	6,856		$	7,701		$	6,528		$	4,956

Diluted earnings per share	$	0.29		$	0.96		$	0.44		$	0.46		$	0.29
Nonrecurring items
Gain on FDIC assisted transactions		-			(1.05	)		-			(0.18	)		-
Merger related costs		0.01			0.12			-			0.03			-
Gains from sale of securities (1)		-			(0.02	)		-			-			-
FHLB prepayment penalties (2)		-			0.03			-			-			-
Branch right sizing		-			-			-			0.02			-
Tax effect (3)		-			0.36			-			0.05			-
Net nonrecurring items		0.01			(0.56	)		-			(0.08	)		-
Diluted core earnings per share (non-GAAP)	$	0.30		$	0.40		$	0.44		$	0.38		$	0.29

YEAR-TO-DATE
Net Income	$	5,066		$	37,117		$	20,557		$	12,937		$	4,956
Nonrecurring items
Gain on FDIC assisted transactions		-			(21,314	)		(3,037	)		(3,037	)		-
Merger related costs		190			2,611			577			443			-
Gains from sale of securities (1)		-			(318	)		-			-			-
FHLB prepayment penalties (2)		-			594			-			-			-
Branch right sizing		-			372			372			372			-
Tax effect (3)		(75	)		6,979			716			769			-
Net nonrecurring items		115			(11,076	)		(1,372	)		(1,453	)		-
Core earnings (non-GAAP)	$	5,181		$	26,041		$	19,185		$	11,484		$	4,956

Diluted earnings per share	$	0.29		$	2.15		$	1.19		$	0.75		$	0.29
Nonrecurring items
Gain on FDIC assisted transactions		-			(1.23	)		(0.18	)		(0.18	)		-
Merger related costs		0.01			0.15			0.03			0.03			-
Gains from sale of securities (1)		-			(0.02	)		-			-			-
FHLB prepayment penalties (2)		-			0.03			-			-			-
Branch right sizing		-			0.02			0.02			0.02			-
Tax effect (3)		-			0.41			0.05			0.05			-
Net nonrecurring items		0.01			(0.64	)		(0.08	)		(0.08	)		-
Diluted core earnings per share (non-GAAP)	$	0.30		$	1.51		$	1.11		$	0.67		$	0.29

(1) Gains from sale of securities marked for sale at time of FDIC assisted transaction.
(2) Penalties for prepayment of FHLB advances marked for sale at time of FDIC assisted transaction.
(3) Effective tax rate of 39.225%; 2010 adjusted for additional fair value deduction related to donation of closed branch.

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SIMMONS FIRST NATIONAL CORP Reports