Edgar Filing: SIMMONS FIRST NATIONAL CORP

Simmons First National Corporation 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) April 19, 2007

SIMMONS FIRST NATIONAL CORPORATION

(Exact name of registrant as specified in its charter)

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

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

(870) 541-1000

(Registrant's telephone number, including area code)

Not Applicable

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

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

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 8:15 A.M. Central Time on April 19, 2007.

SIMMONS FIRST ANNOUNCES RECORD FIRST QUARTER EARNINGS

Pine Bluff, AR - Simmons First National Corporation (NASDAQ-GS: SFNC) today announced record first quarter earnings for the period ended March 31, 2007. Net income for the quarter was $6.6 million, an increase of $649,000 over the first quarter of 2006. Diluted earnings per share were $0.46 for the first quarter of 2007 compared to $0.41 per share for the same period in 2006, an increase of $0.05 share, or 12.2%.

The Company’s net interest margin for the first quarter of 2007 increased 2 basis points to 3.88% from the previous quarter. When compared to the same period last year, the Company’s net interest margin decreased 17 basis points. “Despite a reduction in our margin on a quarter over quarter basis, we did record an increase in net interest income which was due to good growth in our loan portfolio and an improved yield in the securities portfolio,” said J. Thomas May, Chairman and Chief Executive Officer. “However, the biggest impact on our record first quarter earnings was our continued improvement in asset quality and the related reduction in the provision for loan losses.”

The Company’s loan portfolio totaled $1.8 billion at March 31, 2007, an increase of $107 million, or 6.3% over the same period last year. The growth was primarily attributable to increased demand in the real estate loan portfolio. Deposits were $2.2 billion at March 31, 2007, a $113 million, or 5.4% increase from March 31, 2006.

Asset quality remained strong with the allowance for loan losses as a percent of total loans at 1.40% as of March 31, 2007. Non-performing loans equaled 0.48% of total loans, while the allowance for loan losses equaled 292% of non-performing loans. The Company’s annualized net charge-offs to total loans for the first quarter of 2007 was 0.22%. Excluding credit cards, the annualized net charge-offs to total loans for the first quarter was 0.13%.

Total assets for the Company were $2.7 billion at March 31, 2007, an increase of $153 million from March 31, 2006. Stockholders’ equity at March 31, 2007 was $262 million, a $17.0 million increase from March 31, 2006.

Simmons First opened a new financial center in Beebe on January 2, 2007, the Company’s first entry into that market. The Company also plans to open financial centers in Paragould, North Little Rock - McCain, North Little Rock - Sherwood, and Little Rock - Midtown during 2007, as well as a regional headquarters facility in Rogers.

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

CONFERENCE CALL

Management will conduct a conference call to review this information at 3:00 p.m. Central Time on Thursday, April 19, 2007. Interested parties can listen to this call by calling 1-800-854-4175 (United States and Canada only) and asking for the Simmons First National Corporation conference call. A recorded playback of the call will be available the next morning by calling 1-800-642-1687. The passcode for this playback is 3422042 and the recording will be available through the end of business April 30, 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	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2007			2006			2006			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	71,513		$	83,452		$	77,724		$	89,275		$	89,400
Interest bearing balances due from banks		43,614			45,829			19,599			26,265			34,200
Federal funds sold		60,270			21,870			49,340			22,570			8,620
Cash and cash equivalents		175,397			151,151			146,663			138,110			132,220

Investment securities - held-to-maturity		181,901			179,944			172,944			164,612			148,733
Investment securities - available-for-sale		338,222			347,182			358,561			363,217			380,617
Mortgage loans held for sale		8,718			7,091			6,591			13,248			6,853
Assets held in trading accounts		10,464			4,487			4,574			4,606			4,646

Loans		1,798,234			1,783,495			1,788,517			1,738,628			1,691,020
Allowance for loan losses		(25,151	)		(25,385	)		(25,879	)		(26,174	)		(26,463	)
Net loans		1,773,083			1,758,110			1,762,638			1,712,454			1,664,557

Premises and equipment		69,443			67,926			66,769			65,686			65,040
Foreclosed assets held for sale, net		2,321			1,940			1,413			1,740			1,666
Interest receivable		21,312			21,974			21,953			18,571			17,066
Bank owned life insurance		36,498			36,133			35,708			33,985			33,570
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		3,993			4,199			4,406			4,613			4,822
Other assets		9,739			10,671			14,117			15,809			18,075

TOTAL ASSETS	$	2,691,696		$	2,651,413		$	2,656,942		$	2,597,256		$	2,538,470

LIABILITIES
Non-interest bearing transaction accounts	$	316,603		$	305,327		$	302,700		$	330,946		$	328,477
Interest bearing transaction accounts and savings deposits		753,110			738,763			745,649			761,346			757,368
Time deposits less than $100,000		686,650			681,131			664,105			623,609			618,790
Time deposits greater than $100,000		450,558			450,310			436,022			394,489			389,021
Total deposits		2,206,921			2,175,531			2,148,476			2,110,390			2,093,656
Federal funds purchased and securities
sold under agreements to repurchase		108,661			105,036			85,535			89,684			91,817
Short-term debt		5,009			6,114			61,850			45,054			2,245
Long-term debt - parent company		2,000			2,000			2,000			4,000			4,000
Long-term FHLB debt - affiliate banks		50,652			50,381			49,243			48,143			48,163
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		25,353			22,405			24,316			21,876			22,448
TOTAL LIABILITIES		2,429,526			2,392,397			2,402,350			2,350,077			2,293,259

STOCKHOLDERS' EQUITY
Capital stock		141			142			142			142			143
Surplus		46,890			48,678			49,068			49,607			51,380
Undivided profits		216,483			212,394			208,200			203,165			198,287
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(1,344	)		(2,198	)		(2,818	)		(5,735	)		(4,599	)
TOTAL STOCKHOLDERS' EQUITY		262,170			259,016			254,592			247,179			245,211

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,691,696		$	2,651,413		$	2,656,942		$	2,597,256		$	2,538,470

Page 1

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)	2007			2006			2006			2006			2006
(in thousands)
ASSETS
Cash and non-interest bearing balances due from banks	$	75,172		$	80,670		$	78,708		$	77,064		$	77,676
Interest bearing balances due from banks		37,957			24,237			16,851			21,929			27,968
Federal funds sold		51,383			25,554			22,966			16,138			16,235
Cash and cash equivalents		164,512			130,461			118,525			115,131			121,879

Investment securities - held-to-maturity		179,479			174,132			167,182			157,252			147,697
Investment securities - available-for-sale		349,887			355,196			360,584			373,434			378,026
Mortgage loans held for sale		6,362			7,299			8,368			8,426			6,570
Assets held in trading accounts		4,746			4,555			4,598			4,575			4,632

Loans		1,782,125			1,779,528			1,769,131			1,716,396			1,696,855
Allowance for loan losses		(25,824	)		(26,168	)		(26,255	)		(26,997	)		(27,589	)
Net loans		1,756,301			1,753,360			1,742,876			1,689,399			1,669,266

Premises and equipment		68,871			67,438			66,044			65,485			64,560
Foreclosed assets held for sale, net		2,121			1,488			1,525			1,664			1,738
Interest receivable		21,464			22,681			20,922			18,092			18,030
Bank owned life insurance		36,300			35,916			35,226			33,778			33,408
Goodwill		60,605			60,605			60,605			60,605			60,605
Core deposit premiums		4,111			4,317			4,527			4,733			4,942
Other assets		9,292			10,995			13,215			12,688			12,046

TOTAL ASSETS	$	2,664,051		$	2,628,443		$	2,604,197		$	2,545,262		$	2,523,399

LIABILITIES
Non-interest bearing transaction accounts	$	306,020		$	305,447		$	302,490		$	311,102		$	316,118
Interest bearing transaction accounts and savings deposits		731,214			728,085			722,920			751,262			747,046
Time deposits less than $100,000		687,109			678,399			658,182			624,395			618,730
Time deposits greater than $100,000		451,004			441,505			416,693			394,492			378,426
Total deposits		2,175,347			2,153,436			2,100,285			2,081,251			2,060,320
Federal funds purchased and securities
sold under agreements to repurchase		118,011			102,109			93,670			96,041			109,299
Short-term debt		4,031			8,594			54,119			15,804			5,744
Long-term debt		82,185			82,358			80,826			82,957			83,961
Accrued interest and other liabilities		22,002			23,157			22,804			20,486			18,011
TOTAL LIABILITIES		2,401,576			2,369,654			2,351,704			2,296,539			2,277,335

TOTAL STOCKHOLDERS' EQUITY		262,475			258,789			252,493			248,723			246,064

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,664,051		$	2,628,443		$	2,604,197		$	2,545,262		$	2,523,399

Page 2

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)	2007		2006		2006		2006		2006
(in thousands, except per share data)
INTEREST INCOME
Loans	$	34,095	$	34,543	$	33,924	$	31,694	$	30,087
Federal funds sold		701		365		325		192		175
Investment securities		5,721		5,447		5,183		4,978		4,830
Mortgage loans held for sale, net of unrealized gains (losses)		104		107		141		128		100
Assets held in trading accounts		18		13		14		19		25
Interest bearing balances due from banks		510		287		229		259		297
TOTAL INTEREST INCOME		41,149		40,762		39,816		37,270		35,514
INTEREST EXPENSE
Time deposits		13,015		12,755		11,381		9,732		8,724
Other deposits		3,179		3,182		3,023		2,909		2,544
Federal funds purchased and securities
sold under agreements to repurchase		1,456		1,295		1,152		1,064		1,104
Short-term debt		70		145		761		225		96
Long-term debt		1,198		1,102		1,122		1,148		1,094
TOTAL INTEREST EXPENSE		18,918		18,479		17,439		15,078		13,562
NET INTEREST INCOME		22,231		22,283		22,377		22,192		21,952
Provision for loan losses		751		663		602		789		1,708
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		21,480		21,620		21,775		21,403		20,244
NON-INTEREST INCOME
Trust income		1,637		1,517		1,435		1,293		1,367
Service charges on deposit accounts		3,497		3,850		3,973		4,209		3,763
Other service charges and fees		808		715		596		592		658
Income on sale of mortgage loans, net of commissions		679		655		763		755		676
Income on investment banking, net of commissions		150		89		55		90		107
Credit card fees		2,649		2,830		2,755		2,699		2,458
Premiums on sale of student loans		882		263		413		659		736
Bank owned life insurance income		364		425		382		415		301
Other income		788		449		654		804		546
TOTAL NON-INTEREST INCOME		11,454		10,793		11,026		11,516		10,612
NON-INTEREST EXPENSE
Salaries and employee benefits		13,725		13,173		13,298		13,466		13,505
Occupancy expense, net		1,650		1,712		1,612		1,541		1,520
Furniture and equipment expense		1,466		1,437		1,407		1,456		1,418
Loss on foreclosed assets		24		31		32		40		33
Deposit insurance		67		66		64		71		69
Other operating expenses		6,282		6,088		5,722		5,727		5,580
TOTAL NON-INTEREST EXPENSE		23,214		22,507		22,135		22,301		22,125
NET INCOME BEFORE INCOME TAXES		9,720		9,906		10,666		10,618		8,731
Provision for income taxes		3,083		3,156		3,219		3,322		2,743
NET INCOME	$	6,637	$	6,750	$	7,447	$	7,296	$	5,988
BASIC EARNINGS PER SHARE	$	0.47	$	0.47	$	0.53	$	0.51	$	0.42
DILUTED EARNINGS PER SHARE	$	0.46	$	0.47	$	0.51	$	0.51	$	0.41

Page 3

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2007			2006			2006			2006			2006
(in thousands)
Tier 1 capital
Stockholders' equity	$	262,170		$	259,016		$	254,592		$	247,179		$	245,211
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(64,367	)		(64,334	)		(64,557	)		(64,781	)		(65,084	)
Unrealized loss (gain) on AFS securities		1,344			2,198			2,818			5,735			4,599

Total Tier 1 capital		229,147			226,880			222,853			218,133			214,726

Tier 2 capital
Qualifying unrealized gain on AFS securities		129			167			177			173			317
Qualifying allowance for loan losses		23,237			22,953			23,103			22,359			21,468

Total Tier 2 capital		23,366			23,120			23,280			22,532			21,785

Total risk-based capital	$	252,513		$	250,000		$	246,133		$	240,665		$	236,511

Risk weighted assets	$	1,855,511		$	1,831,063		$	1,843,960		$	1,783,411		$	1,716,446

Adjusted average assets for leverage ratio	$	2,603,178		$	2,568,407		$	2,547,237		$	2,488,304		$	2,465,348

Ratios at end of quarter
Leverage ratio		8.80	%		8.83	%		8.75	%		8.77	%		8.71	%
Tier 1 capital		12.35	%		12.39	%		12.09	%		12.23	%		12.51	%
Total risk-based capital		13.61	%		13.65	%		13.35	%		13.49	%		13.78	%

Page 4

Simmons First National Corporation													SFNC
Consolidated Loans and Investments
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2007			2006			2006			2006			2006
(in thousands)
Loan Portfolio - End of Period
Consumer
Credit cards	$	133,511		$	143,359		$	133,607		$	132,464		$	129,833
Student loans		84,358			84,831			86,875			77,085			91,090
Other consumer		141,212			142,596			146,039			140,631			140,958
Real Estate
Construction		276,582			277,411			267,604			248,834			242,145
Single-family residential		366,222			364,453			364,657			348,782			341,795
Other commercial		536,421			512,404			494,512			487,288			473,559
Unearned income		(3	)		(3	)		(4	)		(5	)		(5	)
Commercial
Commercial		182,548			178,028			175,576			188,480			181,174
Agricultural		61,617			62,293			103,301			86,244			59,944
Financial institutions		5,080			4,766			576			16,152			16,158
Other		10,686			13,357			15,774			12,673			14,369

Total Loans	$	1,798,234		$	1,783,495		$	1,788,517		$	1,738,628		$	1,691,020

Investment Securities - End of Period

Held-to-Maturity
U.S. Treasury	$	—		$	—		$	1,001		$	1,002		$	1,003
U.S. Government agencies		54,998			54,998			53,000			42,000			32,000
Mortgage-backed securities		151			155			161			167			180
State and political subdivisions		124,415			122,472			116,481			116,770			113,512
Other securities		2,337			2,319			2,301			4,673			2,038
Total held-to-maturity		181,901			179,944			172,944			164,612			148,733
Available-for-Sale
U.S. Treasury		11,434			6,940			6,749			7,398			10,201
U.S. Government agencies		310,611			322,411			331,709			335,618			350,688
Mortgage-backed securities		2,948			2,956			3,095			3,074			3,264
State and political subdivisions		1,132			1,370			1,373			1,373			2,139
FHLB stock		5,090			5,504			7,674			7,693			6,150
Other securities		7,007			8,001			7,961			8,061			8,175
Total available-for-sale		338,222			347,182			358,561			363,217			380,617

Total investment securities	$	520,123		$	527,126		$	531,505		$	527,829		$	529,350

Fair Value - HTM investment securities	$	181,792		$	179,816		$	172,951		$	161,655		$	147,589

Investment Securities - QTD Average

Taxable securities	$	406,342		$	410,153		$	410,382		$	411,388		$	409,238
Tax exempt securities		123,024			119,175			117,384			119,298			116,485

Total investment securities - QTD average	$	529,366		$	529,328		$	527,766		$	530,686		$	525,723

Page 5

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)	2007			2006			2006			2006			2006
(in thousands)
Allowance for Loan Losses
Balance, beginning of quarter	$	25,385		$	25,879		$	26,174		$	26,463		$	26,923

Loans charged off
Credit cards		735			600			661			600			593
Other consumer		425			395			352			223			272
Real estate		295			793			74			741			260
Commercial		219			209			717			182			209
Total loans charged off		1,674			1,997			1,804			1,746			1,334

Recoveries of loans previously charged off
Credit cards		261			242			291			271			236
Other consumer		105			173			147			156			153
Real estate		162			403			87			213			198
Commercial		161			22			382			28			104
Total recoveries		689			840			907			668			691
Net loans charged off		985			1,157			897			1,078			643
Reclass to reserve for unfunded commitments		-			-			-			-			(1,525	)
Provision for loan losses		751			663			602			789			1,708
Balance, end of quarter	$	25,151		$	25,385		$	25,879		$	26,174		$	26,463

Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	5,561		$	6,916		$	7,674		$	6,266		$	4,497
Commercial		685			720			1,054			2,160			1,328
Consumer		1,492			1,322			1,089			1,130			1,005
Total nonaccrual loans		7,738			8,958			9,817			9,556			6,830
Loans past due 90 days or more		879			1,097			1,029			1,210			1,974
Total non-performing loans		8,617			10,055			10,846			10,766			8,804

Other non-performing assets
Foreclosed assets held for sale		2,321			1,940			1,413			1,740			1,666
Other non-performing assets		40			52			16			-			11
Total other non-performing assets		2,361			1,992			1,429			1,740			1,677

Total non-performing assets	$	10,978		$	12,047		$	12,275		$	12,506		$	10,481

Ratios
Allowance for loan losses to total loans		1.40	%		1.42	%		1.45	%		1.51	%		1.56	%
Allowance for loan losses to
non-performing loans		291.88	%		252.46	%		238.60	%		243.12	%		300.58	%
Allowance for loan losses to
non-performing assets		229.10	%		210.72	%		210.83	%		209.29	%		252.49	%
Non-performing assets ratio *		0.61	%		0.67	%		0.69	%		0.72	%		0.62	%
Non-performing loans to total loans		0.48	%		0.56	%		0.61	%		0.62	%		0.52	%
Non-performing assets to total assets		0.41	%		0.45	%		0.46	%		0.48	%		0.41	%
Annualized net charge offs to total loans		0.22	%		0.26	%		0.20	%		0.25	%		0.15	%
Annualized net charge offs to total loans
(excluding credit cards)		0.13	%		0.19	%		0.13	%		0.19	%		0.07	%

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

Page 6

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
(Unaudited)	2007			2006			2006			2006			2006
(in thousands, except share data)
QUARTER-TO-DATE
Diluted earnings per share	$	0.46		$	0.47		$	0.51		$	0.51		$	0.41
Operating earnings (excludes nonrecurring items)		6,637			6,750			7,447			7,296			5,988
Diluted operating earnings per share		0.46			0.47			0.51			0.51			0.41
Cash dividends declared per common share		0.18			0.18			0.17			0.17			0.16
Cash dividends declared - amount		2,548			2,555			2,413			2,418			2,280
Return on average stockholders' equity		10.25	%		10.35	%		11.70	%		11.77	%		9.87	%
Return on tangible equity		13.88	%		14.08	%		16.04	%		16.24	%		13.74	%
Return on average assets		1.01	%		1.02	%		1.13	%		1.15	%		0.96	%
Net interest margin (FTE)		3.88	%		3.86	%		3.91	%		4.01	%		4.05	%
FTE Adjustment - investments		741			720			707			718			695
FTE Adjustment - loans		85			85			89			86			85
Amortization of intangibles		207			207			207			209			207
Amortization of intangibles, net of taxes		130			130			130			132			130
Average shares outstanding		14,177,615			14,198,399			14,195,844			14,247,973			14,265,085
Shares repurchased		69,678			14,200			24,000			75,400			89,500
Average price of repurchased shares		28.62			31.15			27.93			26.74			28.12
Average earning assets		2,411,939			2,370,501			2,349,680			2,298,150			2,277,983
Average interest bearing liabilities		2,073,554			2,041,050			2,026,410			1,964,951			1,943,206

YEAR-TO-DATE
Diluted earnings per share	$	0.46		$	1.90		$	1.43		$	0.92		$	0.41
Operating earnings (excludes nonrecurring items)		6,637			27,481			20,731			13,284			5,988
Diluted operating earnings per share		0.46			1.90			1.43			0.92			0.41
Cash dividends declared per common share		0.18			0.68			0.50			0.33			0.16
Return on average stockholders' equity		10.25	%		10.93	%		11.13	%		10.83	%		9.87	%
Return on tangible equity		13.88	%		15.03	%		15.37	%		15.01	%		13.74	%
Return on average assets		1.01	%		1.07	%		1.08	%		1.06	%		0.96	%
Net interest margin (FTE)		3.88	%		3.96	%		3.99	%		4.03	%		4.05	%
FTE Adjustment - investments		741			2,840			2,120			1,413			695
FTE Adjustment - loans		85			345			260			171			85
Amortization of intangibles		207			830			623			416			207
Amortization of intangibles, net of taxes		130			522			392			262			130
Average shares outstanding		14,177,615			14,226,481			14,236,047			14,256,482			14,265,085
Diluted shares outstanding		217,538			248,331			255,393			259,130			274,270
Average earning assets		2,411,939			2,324,078			2,308,604			2,288,068			2,277,983
Average interest bearing liabilities		2,073,554			1,993,903			1,978,189			1,954,077			1,943,206

END OF PERIOD
Book value	$	18.54		$	18.24		$	17.94		$	17.41		$	17.19
Shares outstanding		14,139,631			14,196,855			14,188,008			14,199,100			14,264,144
Full-time equivalent employees		1,110			1,134			1,121			1,140			1,111
Total number of ATM's		88			88			88			88			87
Total number of financial centers		82			81			81			81			80
Parent company only - investment in subsidiaries		279,370			275,872			272,909			267,177			267,732
Parent company only - intangible assets		133			133			133			133			133

Page 7

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