SFNC earnings analysis
What we found in SFNC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
For Q1 2026, Simmons First National Corporation reported net income of $68.5 million, corresponding to a diluted EPS of $0.47, consistent with the previous quarter but a significant increase from 2025's $32.4 million net income. Revenue in Q1 2026 was approximately $241.4 million, slightly down from $354 million in Q1 2025, with a gross margin of 59.2%. The company faced headwinds related to increased provisions for credit losses, totaling $14.6 million, alongside a notable reduction in noninterest income driven by a $2.1 million negative valuation adjustment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Stable EPS Despite Revenue Decline
- EPS remained at $0.47 in Q1 2026 compared to $0.54 in Q4 2025 and $0.26 in Q1 2025.
- Improved Net Interest Margin
- Net interest margin increased to 3.84% compared to 2.95% in Q1 2025.
- Significant Loan Growth
- Total loans grew to $17.93 billion in Q1 2026, up from $17.49 billion in Q4 2025.
- Decrease in Nonperforming Loans
- Nonperforming loans as a percentage of total loans rose to 0.79% from 0.64% in Q4 2025.
- Lower Interest Expense
- Total interest expense decreased from $144.4 million in Q1 2025 to $104.6 million in Q1 2026.
- Increased Adjusted Earnings
- Adjusted earnings were $68.6 million in Q1 2026, compared with $33.1 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Noninterest Income Decline
- Total noninterest income decreased by $7.5 million, or 14.5%, compared to Q4 2025.
- Increased Provision for Credit Losses
- Provision for credit losses was $14.6 million, down from $26.8 million in Q1 2025, indicating potential future credit stress.
- Increase in Nonperforming Assets
- Total nonperforming assets increased to $154.5 million from $125.1 million in Q4 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.47
- Gross margin
- 59.2%
What they said about what is next.
Management expects continued monitoring of credit quality and potential impacts from macroeconomic conditions.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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