Edgar Filing: SIMMONS FIRST NATIONAL CORP

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) January 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 January 19, 2006.

SIMMONS FIRST ANNOUNCES RECORD FOURTH QUARTER EARNINGS

Pine Bluff, AR - Simmons First National Corporation (NASDAQ NM: SFNC) today announced record earnings for the fourth quarter ended December 31, 2005. Net income for the quarter was $6.8 million, an increase of $985,000, or 16.9% over the fourth quarter of 2004. Diluted earnings per share were $0.47 for the fourth quarter of 2005 compared to $0.39 per share for the same period in 2004, an increase of 20.5%.

For the year ended December 31, 2005, net income was $27.0 million, an increase of $2.5 million, or 10.3% over the same period in 2004. Diluted earnings per share for the twelve-month period were $1.84, an increase of $0.19, or 11.5%.

“We are pleased with the Company’s performance both for the fourth quarter and for the year,” said J. Thomas May, Chairman and Chief Executive Officer. “We continue to see positive trends in earnings, loan growth, and asset quality. The increase in earnings over the same quarter last year is the result of continued loan growth, an increase in non-interest income, disciplined expense control, and a reduced provision for loan losses resulting from the improvements in asset quality.”

Net interest income for the fourth quarter of 2005 increased to $22.8 million. The increase is primarily attributable to growth in the loan portfolio partially offset by the continuing rise in the cost of funds and a relatively flat yield curve. Net interest margin, on a fully taxable equivalent basis, was 4.10% in the fourth quarter of 2005 compared to 4.09% in the fourth quarter of 2004, an increase of one basis point. On a year to date basis, net interest margin for 2005 increased five basis points to 4.13%.

The Company’s loan portfolio totaled $1.7 billion at December 31, 2005, an increase of $147 million, or 9.3% 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 December 31, 2005, a $101 million, or 5.1% increase from December 31, 2004.

Asset quality for the fourth quarter continued to strengthen as non-performing assets decreased by $3.9 million from the same period last year, a 28% decrease. Non-performing loans to total loans improved to 0.49% from 0.76% from the same period last year, while the allowance for loan losses improved to 319% of non-performing loans as of December 31, 2005, compared to 221% as of December 31, 2004. At quarter end, the allowance for loan losses equaled 1.57% of total loans. The Company’s annualized net charge-off ratio for the fourth quarter of 2005 was 0.47%. Excluding credit cards, the annualized net charge-off ratio for the fourth quarter was 0.20%.

Total assets for the Company were $2.5 billion at December 31, 2005, an increase of $110 million over the period ended December 31, 2004. Stockholders’ equity at December 31, 2005 was $244 million, a $5.9 million increase from December 31, 2004.

“During 2005, the Company continued to expand by opening four financial centers in the communities of Little Rock, Conway, Van Buren, and Bentonville,” commented Mr. May. “In addition, the Company improved its ability to serve customers through the acquisition of a financial center in Little Rock and the relocation to an expanded facility in Fort Smith. In 2006, the Company expects to open additional financial centers in Little Rock, North Little Rock, El Dorado, Beebe, and Paragould.”

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 81 offices, of which 79 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, January 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 3984114 and the recording will be available through the end of business January 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

Senior 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	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

ASSETS
Cash and non-interest bearing balances due from banks	$	75,461		$	83,088		$	73,169		$	67,615		$	72,032
Interest bearing balances due from banks		14,397			48,206			27,861			22,030			36,249
Federal funds sold		11,715			16,825			43,230			56,580			45,450
Cash and cash equivalents		101,573			148,119			144,260			146,225			153,731

Investment securities - held-to-maturity		150,299			151,123			149,293			147,644			151,264
Investment securities - available-for-sale		371,490			388,848			400,451			411,340			390,794
Mortgage loans held for sale		7,857			9,417			8,361			11,641			9,246
Assets held in trading accounts		4,631			4,731			4,680			4,718			4,916

Loans		1,718,107			1,709,372			1,662,337			1,586,483			1,571,376
Allowance for loan losses		(26,923	)		(27,330	)		(27,013	)		(26,422	)		(26,508	)
Net loans		1,691,184			1,682,042			1,635,324			1,560,061			1,544,868

Premises and equipment		63,360			61,354			59,086			57,685			57,211
Foreclosed assets held for sale, net		1,540			2,120			1,482			1,340			1,839
Interest receivable		18,754			18,555			15,705			15,276			14,248
Bank owned life insurance		33,269			32,952			32,673			7,410			3,536
Goodwill		60,605			60,454			60,454			60,454			60,454
Core deposit premiums		5,029			5,207			5,414			5,621			5,829
Other assets		14,177			12,120			13,202			13,095			16,008

TOTAL ASSETS	$	2,523,768		$	2,577,042		$	2,530,385		$	2,442,510		$	2,413,944

LIABILITIES
Non-interest bearing transaction accounts	$	331,113		$	305,506		$	308,543		$	296,347		$	293,137
Interest bearing transaction accounts and savings deposits		749,925			758,906			777,820			773,365			769,296
Time deposits less than $100,000		564,017			568,013			561,937			562,171			539,836
Time deposits greater than $100,000		414,903			415,302			377,991			376,478			356,926
Total deposits		2,059,958			2,047,727			2,026,291			2,008,361			1,959,195
Federal funds purchased and securities
sold under agreements to repurchase		107,223			92,320			122,255			89,991			104,785
Short-term debt		8,031			92,747			36,851			907			2,373
Long-term debt - parent company		4,000			4,000			6,000			6,000			6,000
Long-term FHLB debt - affiliate banks		52,090			52,066			52,854			55,583			57,733
Subordinated debt issued to capital trusts		30,930			30,930			30,930			30,930			30,930
Accrued interest and other liabilities		17,451			16,081			16,512			18,466			14,706
TOTAL LIABILITIES		2,279,683			2,335,871			2,291,693			2,210,238			2,175,722

STOCKHOLDERS' EQUITY
Capital stock		143			143			144			144			146
Surplus		53,723			54,429			55,608			56,315			62,826
Undivided profits		194,579			190,047			184,865			180,075			176,374
Accumulated other comprehensive income (loss)
Unrealized appreciation (depreciation) on AFS securities		(4,360	)		(3,448	)		(1,925	)		(4,262	)		(1,124	)
TOTAL STOCKHOLDERS' EQUITY		244,085			241,171			238,692			232,272			238,222

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,523,768		$	2,577,042		$	2,530,385		$	2,442,510		$	2,413,944

Page 1

Simmons First National Corporation													SFNC
Consolidated Average Quarter-to-Date Balance Sheets
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

ASSETS
Cash and non-interest bearing balances due from banks	$	85,534		$	78,418		$	77,007		$	77,862		$	85,375
Interest bearing balances due from banks		16,426			16,384			15,765			35,027			38,498
Federal funds sold		6,353			29,375			35,157			52,022			60,033
Cash and cash equivalents		108,313			124,177			127,929			164,911			183,906

Investment securities - held-to-maturity		147,779			150,654			149,038			149,986			171,402
Investment securities - available-for-sale		384,346			390,580			412,101			404,127			383,325
Mortgage loans held for sale		8,056			11,395			9,425			8,532			9,682
Assets held in trading accounts		4,688			4,711			4,696			4,234			5,510

Loans		1,714,132			1,689,883			1,626,513			1,575,329			1,570,724
Allowance for loan losses		(27,308	)		(27,512	)		(26,859	)		(27,004	)		(27,823	)
Net loans		1,686,824			1,662,371			1,599,654			1,548,325			1,542,901

Premises and equipment		62,633			60,497			58,320			57,538			56,128
Foreclosed assets held for sale, net		2,028			1,870			1,420			1,468			1,728
Interest receivable		19,121			17,038			15,301			14,398			14,854
Bank owned life insurance		33,102			32,832			24,823			3,593			3,507
Goodwill		60,554			60,454			60,454			60,454			60,454
Core deposit premiums		5,138			5,326			5,534			5,745			5,947
Other assets		11,718			12,809			12,104			15,554			18,212

TOTAL ASSETS	$	2,534,300		$	2,534,714		$	2,480,799		$	2,438,865		$	2,457,556

LIABILITIES
Non-interest bearing transaction accounts	$	314,491		$	303,387		$	300,909		$	296,921		$	302,117
Interest bearing transaction accounts and savings deposits		748,902			751,877			778,516			771,301			766,178
Time deposits less than $100,000		565,664			569,977			561,884			556,878			545,003
Time deposits greater than $100,000		418,850			386,581			373,366			369,372			357,800
Total deposits		2,047,907			2,011,822			2,014,675			1,994,472			1,971,098
Federal funds purchased and securities
sold under agreements to repurchase		109,065			92,508			108,519			98,499			107,150
Short-term debt		30,435			82,463			13,098			992			10,143
Long-term debt		85,808			88,242			91,045			93,365			113,370
Accrued interest and other liabilities		16,859			18,120			16,271			14,711			15,799
TOTAL LIABILITIES		2,290,074			2,293,155			2,243,608			2,202,039			2,217,560

TOTAL STOCKHOLDERS' EQUITY		244,226			241,559			237,191			236,826			239,996

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,534,300		$	2,534,714		$	2,480,799		$	2,438,865		$	2,457,556

Page 2

Simmons First National Corporation													SFNC
Consolidated Average Year-to-Date Balance Sheets
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

ASSETS
Cash and non-interest bearing balances due from banks	$	79,723		$	77,764		$	77,432		$	77,862		$	77,836
Interest bearing balances due from banks		20,837			22,324			25,343			35,027			36,587
Federal funds sold		30,598			38,768			43,543			52,022			56,423
Cash and cash equivalents		131,158			138,856			146,318			164,911			170,846

Investment securities - held-to-maturity		149,362			149,895			149,509			149,986			176,585
Investment securities - available-for-sale		397,715			402,220			408,136			404,127			361,231
Mortgage loans held for sale		9,356			9,794			8,981			8,532			10,087
Assets held in trading accounts		4,584			4,549			4,466			4,234			4,980

Loans		1,651,950			1,630,995			1,601,062			1,575,329			1,528,447
Allowance for loan losses		(27,172	)		(27,127	)		(26,931	)		(27,004	)		(27,186	)
Net loans		1,624,778			1,603,868			1,574,131			1,548,325			1,501,261

Premises and equipment		59,763			58,796			57,931			57,538			52,464
Foreclosed assets held for sale, net		1,699			1,588			1,444			1,468			1,990
Interest receivable		16,479			15,589			14,852			14,398			13,626
Bank owned life insurance		23,694			20,523			14,266			3,593			2,431
Goodwill		60,479			60,454			60,454			60,454			56,996
Core deposit premiums		5,434			5,533			5,639			5,745			5,840
Other assets		13,033			13,479			13,821			15,554			19,443

TOTAL ASSETS	$	2,497,534		$	2,485,144		$	2,459,948		$	2,438,865		$	2,377,780

LIABILITIES
Non-interest bearing transaction accounts	$	303,974		$	300,430		$	298,926		$	296,921		$	293,060
Interest bearing transaction accounts and savings deposits		762,558			767,160			774,928			771,301			729,842
Time deposits less than $100,000		563,643			562,961			559,395			556,878			543,136
Time deposits greater than $100,000		387,177			376,503			371,380			369,372			349,224
Total deposits		2,017,352			2,007,054			2,004,629			1,994,472			1,915,262
Federal funds purchased and securities
sold under agreements to repurchase		102,041			99,673			103,537			98,499			94,465
Short-term debt		32,076			32,629			7,078			992			11,252
Long-term debt		89,590			90,865			92,199			93,365			110,946
Accrued interest and other liabilities		16,499			16,380			15,495			14,711			16,136
TOTAL LIABILITIES		2,257,558			2,246,601			2,222,938			2,202,039			2,148,061

TOTAL STOCKHOLDERS' EQUITY		239,976			238,543			237,010			236,826			229,719

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,497,534		$	2,485,144		$	2,459,948		$	2,438,865		$	2,377,780

Page 3

Simmons First National Corporation										SFNC
Consolidated Statements of Income - Quarter-to-Date
For the Quarters Ended	Dec 31		Sep 30		Jun 30			Mar 31		Dec 31
(In thousands, except per share data)	2005		2005		2005			2005		2004

INTEREST INCOME
Loans	$	30,425	$	29,225	$	27,175		$	25,413	$	25,363
Federal funds sold		63		262		273			327		303
Investment securities		4,751		4,693		4,659			4,574		4,496
Mortgage loans held for sale, net of unrealized gains (losses)		131		168		134			119		130
Assets held in trading accounts		24		25		25			25		35
Interest bearing balances due from banks		162		119		103			196		172
TOTAL INTEREST INCOME		35,556		34,492		32,369			30,654		30,499
INTEREST EXPENSE
Time deposits		8,051		7,031		6,071			5,278		4,752
Other deposits		2,268		2,015		1,859			1,635		1,469
Federal funds purchased and securities
sold under agreements to repurchase		1,016		815		728			545		471
Short-term debt		311		646		130			14		41
Long-term debt		1,095		1,113		1,104			1,089		1,512
TOTAL INTEREST EXPENSE		12,741		11,620		9,892			8,561		8,245
NET INTEREST INCOME		22,815		22,872		22,477			22,093		22,254
Provision for loan losses		1,630		1,736		1,939			2,221		1,932
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		21,185		21,136		20,538			19,872		20,322
NON-INTEREST INCOME
Trust income		1,425		1,430		1,349			1,385		1,400
Service charges on deposit accounts		4,097		4,154		4,153			3,414		3,642
Other service charges and fees		507		472		454			584		488
Income on sale of mortgage loans, net of commissions		698		827		712			682		781
Income on investment banking, net of commissions		51		146		161			58		131
Credit card fees		2,709		2,619		2,584			2,340		2,630
Premiums on sale of student loans		251		295		642			634		247
Bank owned life insurance income		304		312		218			20		23
Other income		636		485		724			954		612
Gain (loss) on sale of securities, net		-		-		(168	)		-		-
TOTAL NON-INTEREST INCOME		10,678		10,740		10,829			10,071		9,954
NON-INTEREST EXPENSE
Salaries and employee benefits		13,039		12,703		12,697			12,831		12,357
Occupancy expense, net		1,527		1,483		1,394			1,436		1,374
Furniture and equipment expense		1,482		1,421		1,406			1,449		1,444
Loss on foreclosed assets		31		57		55			48		116
Deposit insurance		65		72		69			73		68
Write off of deferred debt issuance cost		-		-		-			-		771
Other operating expenses		5,835		5,490		5,343			5,578		5,506
TOTAL NON-INTEREST EXPENSE		21,979		21,226		20,964			21,415		21,636
NET INCOME BEFORE INCOME TAXES		9,884		10,650		10,403			8,528		8,640
Provision for income taxes		3,059		3,316		3,460			2,668		2,800
NET INCOME	$	6,825	$	7,334	$	6,943		$	5,860	$	5,840
BASIC EARNINGS PER SHARE	$	0.48	$	0.51	$	0.48		$	0.41	$	0.40
DILUTED EARNINGS PER SHARE	$	0.47	$	0.50	$	0.47		$	0.40	$	0.39

Page 4

Simmons First National Corporation												SFNC
Consolidated Statements of Income - Year-to-Date
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31		Dec 31
(In thousands, except per share data)	2005			2005			2005			2005		2004

INTEREST INCOME
Loans	$	112,238		$	81,813		$	52,588		$	25,413	$	96,853
Federal funds sold		925			863			600			327		748
Investment securities		18,677			13,926			9,233			4,574		17,447
Mortgage loans held for sale, net of unrealized gains (losses)		552			421			253			119		575
Assets held in trading accounts		99			74			50			25		41
Interest bearing balances due from banks		580			418			299			196		400
TOTAL INTEREST INCOME		133,071			97,515			63,023			30,654		116,064
INTEREST EXPENSE
Time deposits		26,431			18,381			11,349			5,278		18,198
Other deposits		7,777			5,508			3,494			1,635		4,965
Federal funds purchased and securities
sold under agreements to repurchase		3,104			2,088			1,273			545		1,227
Short-term debt		1,101			790			143			14		175
Long-term debt		4,401			3,306			2,192			1,089		5,863
TOTAL INTEREST EXPENSE		42,814			30,073			18,451			8,561		30,428
NET INTEREST INCOME		90,257			67,442			44,572			22,093		85,636
Provision for loan losses		7,526			5,895			4,159			2,221		8,027
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		82,731			61,547			40,413			19,872		77,609
NON-INTEREST INCOME
Trust income		5,589			4,164			2,734			1,385		5,421
Service charges on deposit accounts		15,818			11,721			7,567			3,414		14,564
Other service charges and fees		2,017			1,511			1,039			584		2,016
Income on sale of mortgage loans, net of commissions		2,919			2,221			1,395			682		3,391
Income on investment banking, net of commissions		416			364			219			58		645
Credit card fees		10,252			7,543			4,924			2,340		10,001
Premiums on sale of student loans		1,822			1,572			1,276			634		2,114
Bank owned life insurance income		854			551			238			20		73
Other income		2,799			2,163			1,677			954		2,480
Gain (loss) on sale of securities, net		(168	)		(168	)		(168	)		-		-
TOTAL NON-INTEREST INCOME		42,318			31,642			20,901			10,071		40,705
NON-INTEREST EXPENSE
Salaries and employee benefits		51,270			38,231			25,529			12,831		48,533
Occupancy expense, net		5,840			4,314			2,831			1,436		5,500
Furniture and equipment expense		5,758			4,277			2,855			1,449		5,646
Loss on foreclosed assets		191			160			103			48		346
Deposit insurance		279			214			142			73		284
Write off of deferred debt issuance cost		-			-			-			-		771
Other operating expenses		22,246			16,412			10,923			5,578		21,305
TOTAL NON-INTEREST EXPENSE		85,584			63,608			42,383			21,415		82,385
NET INCOME BEFORE INCOME TAXES		39,465			29,581			18,931			8,528		35,929
Provision for income taxes		12,503			9,444			6,128			2,668		11,483
NET INCOME	$	26,962		$	20,137		$	12,803		$	5,860	$	24,446
BASIC EARNINGS PER SHARE	$	1.88		$	1.40		$	0.89		$	0.41	$	1.68
DILUTED EARNINGS PER SHARE	$	1.84		$	1.37		$	0.87		$	0.40	$	1.65

Page 5

Simmons First National Corporation													SFNC
Consolidated Risk-Based Capital
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

Tier 1 capital
Stockholders' equity	$	244,085		$	241,171		$	238,692		$	232,272		$	238,222
Trust preferred securities, net allowable		30,000			30,000			30,000			30,000			30,000
Disallowed intangible assets, net of def. tax		(65,047	)		(65,271	)		(65,452	)		(65,718	)		(66,283	)
Unrealized loss (gain) on AFS securities		4,360			3,448			1,925			4,262			1,124
Other		-			-			-			-			(738	)

Total Tier 1 capital		213,398			209,348			205,165			200,816			202,325

Tier 2 capital
Qualifying unrealized gain on AFS securities		338			357			415			206			392
Qualifying allowance for loan losses		21,815			21,952			21,157			20,107			19,961

Total Tier 2 capital		22,153			22,309			21,572			20,313			20,353

Total risk-based capital	$	235,551		$	231,657		$	226,737		$	221,129		$	222,678

Risk weighted assets	$	1,740,005		$	1,750,783		$	1,686,669		$	1,602,295		$	1,590,373

Assets for leverage ratio	$	2,475,659		$	2,473,854		$	2,420,348		$	2,379,954		$	2,391,149

Ratios at end of quarter
Leverage ratio		8.62	%		8.46	%		8.48	%		8.44	%		8.46	%
Tier 1 capital		12.26	%		11.96	%		12.16	%		12.53	%		12.72	%
Total risk-based capital		13.54	%		13.23	%		13.44	%		13.80	%		14.00	%

Page 6

Simmons First National Corporation													SFNC
Consolidated Loans and Investments
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

Loan Portfolio - End of Period
Consumer
Credit cards	$	143,058		$	138,077		$	141,398		$	141,793		$	155,326
Student loans		89,818			89,759			75,565			87,745			83,283
Other consumer		138,051			136,626			131,210			127,245			128,552
Real Estate
Construction		238,898			227,063			207,136			186,526			169,001
Single-family residential		340,847			338,466			336,413			323,874			318,498
Other commercial		479,684			462,978			489,880			480,653			481,728
Unearned income		(8	)		(8	)		(9	)		(10	)		(10	)
Commercial
Commercial		184,920			177,682			161,474			165,946			158,613
Agricultural		68,761			105,107			83,071			53,927			62,340
Financial institutions		20,499			21,219			21,979			999			1,079
Other		13,579			12,403			14,220			17,785			12,966

Total Loans	$	1,718,107		$	1,709,372		$	1,662,337		$	1,586,483		$	1,571,376

Investment Securities - End of Period

Held-to-Maturity
U.S. Treasury	$	1,004		$	2,007		$	2,012		$	3,016		$	4,020
U.S. Government agencies		28,000			25,999			25,999			23,500			21,500
Mortgage-backed securities		187			197			212			279			307
State and political subdivisions		117,148			120,424			118,586			118,376			122,457
Other securities		3,960			2,496			2,484			2,473			2,980
Total held-to-maturity		150,299			151,123			149,293			147,644			151,264
Available-for-Sale
U.S. Treasury		10,887			17,363			20,092			23,006			24,096
U.S. Government agencies		340,990			346,309			355,534			364,227			341,086
Mortgage-backed securities		3,309			3,442			3,786			3,744			3,877
State and political subdivisions		3,053			3,169			3,589			4,194			4,746
FHLB stock		6,044			11,320			10,137			7,705			8,206
Other securities		7,207			7,245			7,313			8,464			8,783
Total available-for-sale		371,490			388,848			400,451			411,340			390,794

Total investment securities	$	521,789		$	539,971		$	549,744		$	558,984		$	542,058

Fair Value - HTM investment securities	$	149,173		$	151,192		$	150,169		$	147,287		$	152,432

Investment Securities - QTD Average

Taxable securities	$	412,483		$	419,204		$	439,010		$	429,674		$	428,184
Tax exempt securities		119,642			122,030			122,129			124,439			126,543

Total investment securities - QTD average	$	532,125		$	541,234		$	561,139		$	554,113		$	554,727

Page 7

Simmons First National Corporation													SFNC
Consolidated Allowance and Asset Quality
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands)	2005			2005			2005			2005			2004

Allowance for Loan Losses
Balance, beginning of quarter	$	27,330		$	27,013		$	26,422		$	26,508		$	27,602

Loans charged off
Credit cards		1,455			1,157			1,158			1,180			1,006
Other consumer		299			341			356			244			567
Real estate		262			444			222			120			418
Commercial		532			1,217			520			1,420			1,884
Total loans charged off		2,548			3,159			2,256			2,964			3,875

Recoveries of loans previously charged off
Credit cards		192			245			216			179			206
Other consumer		131			214			159			132			167
Real estate		46			128			47			30			75
Commercial		142			1,153			486			316			401
Total recoveries		511			1,740			908			657			849
Net loans charged off		2,037			1,419			1,348			2,307			3,026
Allowance for loan losses on acquisitions		-			-			-			-			-
Provision for loan losses		1,630			1,736			1,939			2,221			1,932
Balance, end of quarter	$	26,923		$	27,330		$	27,013		$	26,422		$	26,508

Non-performing assets
Non-performing loans
Nonaccrual loans
Real estate	$	5,598		$	6,069		$	6,947		$	7,360		$	6,309
Commercial		602			1,026			795			1,582			3,429
Consumer		1,096			1,193			1,167			1,292			1,180
Total nonaccrual loans		7,296			8,288			8,909			10,234			10,918
Loans past due 90 days or more		1,131			1,181			1,199			1,615			1,085
Total non-performing loans		8,427			9,469			10,108			11,849			12,003

Other non-performing assets
Foreclosed assets held for sale		1,540			2,120			1,482			1,340			1,839
Other non-performing assets		16			78			51			64			83
Total other non-performing assets		1,556			2,198			1,533			1,404			1,922

Total non-performing assets	$	9,983		$	11,667		$	11,641		$	13,253		$	13,925

Ratios
Allowance for loan losses to total loans		1.57	%		1.60	%		1.63	%		1.67	%		1.69	%
Allowance for loan losses to
non-performing loans		319.48	%		288.63	%		267.24	%		222.99	%		220.84	%
Allowance for loan losses to
non-performing assets		269.69	%		234.25	%		232.05	%		199.37	%		190.36	%
Non-performing assets ratio *		0.58	%		0.68	%		0.70	%		0.83	%		0.89	%
Non-performing loans to total loans		0.49	%		0.55	%		0.61	%		0.75	%		0.76	%
Non-performing assets to total assets		0.40	%		0.45	%		0.46	%		0.54	%		0.58	%
Net charge offs to total loans		0.47	%		0.33	%		0.33	%		0.58	%		0.74	%
Net charge offs to total loans
(excluding credit cards)		0.20	%		0.13	%		0.11	%		0.36	%		0.60	%

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

Page 8

Simmons First National Corporation													SFNC
Consolidated - Selected Financial Data
For the Quarters Ended	Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
(In thousands, except share data)	2005			2005			2005			2005			2004

QUARTER-TO-DATE
Diluted earnings per share	$	0.47		$	0.50		$	0.47		$	0.40		$	0.39
Operating earnings (excludes nonrecurring items)		6,825			7,334			6,943			5,860			6,310
Diluted operating earnings per share		0.47			0.50			0.47			0.40			0.42
Cash dividends declared per common share		0.16			0.15			0.15			0.15			0.15
Cash dividends declared - amount		2,293			2,152			2,154			2,158			2,193
Return on average stockholders' equity		11.09	%		12.05	%		11.74	%		10.04	%		9.68	%
Return on average assets		1.07	%		1.15	%		1.12	%		0.97	%		0.95	%
Net interest margin (FTE)		4.10	%		4.10	%		4.15	%		4.17	%		4.09	%
FTE Adjustment - investments		701			714			720			756			689
FTE Adjustment - loans		88			89			83			83			86
Amortization of intangibles		208			207			207			207			208
Amortization of intangibles, net of taxes		131			130			130			131			132
Average shares outstanding		14,329,026			14,357,059			14,365,441			14,450,533			14,608,104
Shares repurchased		29,458			44,835			35,660			261,500			-
Average price of repurchased shares		27.81			27.39			24.17			25.95			-
Average earning assets		2,281,780			2,292,982			2,252,695			2,229,257			2,239,174
Average interest bearing liabilities		1,958,724			1,971,648			1,926,428			1,890,407			1,899,644

YEAR-TO-DATE
Diluted earnings per share	$	1.84		$	1.37		$	0.87		$	0.40		$	1.65
Operating earnings (excludes nonrecurring items)		26,962			20,137			12,803			5,860			24,916
Diluted operating earnings per share		1.84			1.37			0.87			0.40			1.68
Cash dividends declared per common share		0.61			0.45			0.30			0.15			0.57
Return on average stockholders' equity		11.24	%		11.29	%		10.89	%		10.04	%		10.64	%
Return on average assets		1.08	%		1.08	%		1.05	%		0.97	%		1.03	%
Net interest margin (FTE)		4.13	%		4.14	%		4.16	%		4.17	%		4.08	%
FTE Adjustment - investments		2,891			2,190			1,476			756			2,812
FTE Adjustment - loans		343			255			166			83			361
Amortization of intangibles		829			621			414			207			792
Amortization of intangibles, net of taxes		522			391			261			131			503
Average shares outstanding		14,375,005			14,385,842			14,407,752			14,450,533			14,515,364
Diluted shares outstanding		311,922			297,548			304,431			327,079			333,196
Average earning assets		2,264,402			2,258,545			2,241,040			2,229,257			2,174,340
Average interest bearing liabilities		1,937,085			1,929,791			1,908,517			1,890,407			1,838,865

END OF PERIOD
Book value	$	17.04		$	16.82		$	16.63		$	16.15		$	16.29
Shares outstanding		14,326,923			14,337,803			14,353,963			14,381,434			14,621,707
Full-time equivalent employees		1,110			1,099			1,094			1,083			1,086
Total number of ATM's		86			83			81			80			79
Total number of financial centers		79			77			76			75			78
Parent company only - investment in subsidiaries		265,714			263,991			262,020			259,425			257,851
Parent company only - intangible assets		133			133			133			133			133

Page 9

Simmons First National Corporation									SFNC
Consolidated - Reconciliation of Operating Earnings
For the Quarters Ended	Dec 31		Sep 30		Jun 30		Mar 31		Dec 31
(In thousands, except share data)	2005		2005		2005		2005		2004

QUARTER-TO-DATE
Net Income	$	6,825	$	7,334	$	6,943	$	5,860	$	5,840
Nonrecurring items
Write off of deferred debt issuance cost		-		-		-		-		771
Tax effect (39%)		-		-		-		-		(301	)
Net nonrecurring items		-		-		-		-		470
Operating income	$	6,825	$	7,334	$	6,943	$	5,860	$	6,310


Diluted earnings per share	$	0.47	$	0.50	$	0.47	$	0.40	$	0.39
Nonrecurring items
Write off of deferred debt issuance cost		-		-		-		-		0.05
Tax effect (39%)		-		-		-		-		(0.02	)
Net nonrecurring items		-		-		-		-		0.03
Diluted operating earnings per share	$	0.47	$	0.50	$	0.47	$	0.40	$	0.42



YEAR-TO-DATE
Net Income	$	26,962	$	20,137	$	12,803	$	5,860	$	24,446
Nonrecurring items
Write off of deferred debt issuance cost		-		-		-		-		771
Tax effect (39%)		-		-		-		-		(301	)
Net nonrecurring items		-		-		-		-		470
Operating income	$	26,962	$	20,137	$	12,803	$	5,860	$	24,916


Diluted earnings per share	$	1.84	$	1.37	$	0.87	$	0.40	$	1.65
Nonrecurring items
Write off of deferred debt issuance cost		-		-		-		-		0.05
Tax effect (39%)		-		-		-		-		(0.02	)
Net nonrecurring items		-		-		-		-		0.03
Diluted operating earnings per share	$	1.84	$	1.37	$	0.87	$	0.40	$	1.68

Page 10

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: January 19, 2006	By:	/s/ Robert A. Fehlman
		Robert A. Fehlman, Senior Vice President
		and Chief Financial Officer