Simmons First National prices $325M subordinated notes at 6.25%; to repay 2028 notes

SIMMONS FIRST NATIONAL CORP

Priced $325M 6.25% Fixed-to-Floating Rate Subordinated Notes due 2035 at 100% par.
Net proceeds approximated $321.3M after discounts and expenses; expected close Sept 12, 2025.
Proceeds, plus cash, to repay $330M of 5.00% Fixed-to-Floating Subordinated Notes due 2028.
Underwriters: Keefe, Bruyette & Woods (KBW) and Morgan Stanley; co-managers include Piper Sandler, Raymond James, Stephens.
Fixed rate period through Oct 1, 2030; then floating rate at 3-month SOFR + 302 bps quarterly.

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