Simmons First Announces Expansion Into Kansas

PINE BLUFF, Ark., Oct. 15, 2010 (GLOBE NEWSWIRE) -- Simmons First National
Corporation (Nasdaq:SFNC) announced today that its wholly-owned bank subsidiary,
Simmons First National Bank, has entered into a purchase and assumption
agreement with loss share arrangements with the Federal Deposit Insurance
Corporation (the "FDIC") to purchase substantially all of the assets and to
assume substantially all of the deposits and other liabilities of Security
Savings Bank, FSB in Olathe, Kansas. Simmons First, as a result of this
agreement, expands its footprint outside the Arkansas borders for the second
time. Security Savings Bank was closed today by the Office of Thrift
Supervision, which appointed the FDIC as receiver.

The former Security Savings Bank locations will open at their normal banking
hours on October 16, 2010, as Simmons First National Bank financial centers and
all former Security Savings Bank customers will be able to conduct banking
business as usual. Depositors of Security Savings Bank will automatically become
depositors of Simmons First National Bank, and deposits will continue to be
insured by the FDIC. Depositors may access their accounts as usual through
automated teller machine transactions, checks, online banking and debit card
transactions. Checks drawn on Security Savings Bank will continue to be
processed, and loan customers should continue to make their customary payments.
Customers may continue banking as usual and feel confident that their deposits
are secure, now backed by one of the country's strongest and safest financial
institutions.

"This acquisition is the second of several that we anticipate making over the
next two to three years, which is the reason we raised $70.5 million in
additional capital in November, 2009," said J. Thomas May, Chairman and CEO.
"Earlier in the year we announced the purchase of Southwest Community Bank in
Springfield, Missouri which was a good first step for expanding beyond the
borders of Arkansas. The acquisition of Security Savings Bank in Olathe, Kansas
is a natural extension of our footprint. Security Savings has nine locations
with four in the Kansas City Metropolitan area, three in Salina, Kansas, and two
in Wichita, Kansas. Simmons First has built its franchise around a community
banking philosophy, thus this acquisition is a natural extension of that
strategy. In addition, we believe the Kansas market represents a good
opportunity to expand our current niche of agriculture lending. With this
acquisition, Simmons First will be serving its customers from 85 financial
centers in 46 communities in three states, including Springfield, Missouri;
Salina, Kansas; Wichita, Kansas; Overland Park, Kansas; Leawood, Kansas and
Olathe, Kansas."

During the transition period, Security Savings Bank customer accounts will be
converted to Simmons First National Bank accounts with customers ultimately
enjoying the benefits of Simmons First's extensive selection of products and
services. Simmons First Trust Company was named the Largest Trust Company in
Arkansas with assets in excess of $2 billion. Simmons First has been nationally
proclaimed as having one of the best credit cards in America by Money Magazine,
the Wall Street Journal and Kiplinger and was recently recognized as having the
best low rate credit card by cardrating.com. We are also a major provider of
cash management services.

"We welcome our new customers and associates in Kansas to the Simmons First
family," said May. "Our 107 year old franchise has been built around a community
banking philosophy. Our associates are committed to treating the customer the
way we want to be treated when we are the customer. This is the same commitment
that we will deliver to the former customers of Security Savings Bank."

Through the loss share provisions of the purchase and assumption agreement, the
FDIC will reimburse Simmons First National Bank for 80% of the losses it incurs
on the disposition of loans and foreclosed real estate on all covered assets.
The assets were purchased from the FDIC at a discount of $46.5 million, or
approximately 10.9% of total assets. All deposits were acquired with no deposit
premium. The final valuation and purchase price of acquired assets and
liabilities will be determined upon completion of appropriate valuation
processes.

Highlights of the Transaction

The acquisition is currently expected to provide Simmons First:

-- Expansion into Kansas
-- Assets of approximately $428 million
-- Loans of approximately $310 million (before loan discounts and FDIC
receivables)
-- Investment securities of approximately $82 million
-- Deposits of approximately $360 million, with $40 million being brokered
deposits which will be paid out, thereby utilizing a portion of the
excess liquidity of Simmons First
-- Loss share protection from the FDIC on approximately $330 million in
covered assets

The impact on Simmons First is currently expected to:

-- Be slightly accretive to both net income and diluted earnings per share
-- Be slightly accretive to book value per share and tangible book value
per share
-- Leverage and deploy a portion of Simmons First's recent underwritten
public common equity offering in which the Company sold common stock for
net proceeds of approximately $70.5 million

Upon completion of the acquisition, Simmons First will continue to remain
substantially above the threshold for "well capitalized" under regulatory
standards. No additional capital is required to support this transaction.
Simmons First has a long history of consistent earnings, strong capital and
excellent asset quality.

Simmons First National Corporation is a $3.5 billion 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 89 offices, of which
85 are financial centers, in 46 communities, including its newly acquired Kansas
locations. The Company's common stock trades on the NASDAQ Global Select Market
under the symbol "SFNC".

The Simmons First National Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4819

Forward Looking Statements

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. Forward-looking statements
regarding the Security Savings Bank, FSB transaction are based on currently
available information provided to us by the FDIC. Actual results could differ
materially after experience with this acquisition. 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.

CONTACT: Simmons First National Corporation
David W. Garner, Senior Vice President
and Investor Relations Officer
(870) 541-1000