Simmons First to close 26 branches, expects $40-45M Q3 charges, $37-42M annual PPNR benefit

SIMMONS FIRST NATIONAL CORP

Closing 26 Simmons Bank branches across six states effective Dec 4, 2026; ~100 associates affected, ~70% expected to be retained.
Pre-tax exit costs estimated $20-23M: $17-19M real estate write-downs/lease term fees, $3-3.5M professional fees, $0.2-0.5M severance.
Total Q3 2026 pre-tax charges for broader Initiatives $40-45M, including branch closures; $4-5M of exit costs are cash.
Initiatives expected to improve annual pre-provision net revenue by $37-42M once fully implemented; may reinvest part into growth.
Charges substantially recognized in Q3 2026; management cites structural operating model transformation and technology automation.

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