Simmons First National Corporation filed a current report on Form 8-K on September 3, 2026, disclosing a decision made September 1, 2026, to close 26 Simmons Bank branches across its six-state footprint, with closures expected to take effect December 4, 2026.

Key Highlights

  • 26 branches to close: Simmons Bank will close 26 locations across its six-state footprint, effective December 4, 2026.
  • Approximately 100 associates affected: The company anticipates retaining approximately 70% of impacted associates through placement in other locations or alternative positions.
  • Pre-tax branch closure costs: Estimated aggregate pre-tax expenses of approximately $20 million to $23 million, with $4 million to $5 million expected to be cash-based.
  • Broader Initiatives cost: Total third-quarter 2026 pre-tax expenses related to all restructuring initiatives are estimated at $40 million to $45 million.
  • Expected PPNR benefit: Once fully implemented, the Initiatives are expected to positively impact annual pre-provision net revenue in an estimated range of approximately $37 million to $42 million, according to the filing.
  • Expense recognition timing: The company expects to recognize substantially all branch closure expenses in the third quarter of 2026.

Simmons Bank Branch Closure Details and Restructuring Cost Breakdown

According to the filing, Simmons First National Corporation (NASDAQ:SFNC) determined on September 1, 2026, to close 26 Simmons Bank branches as part of what the company described as "a broader review of the Company's retail network strategy." The company disclosed that the closures are intended to align the branch network with "evolving customer preferences while maintaining customer access, preserving service levels, and continuing to provide advice, guidance, and financial solutions through nearby branches and other banking channels." Management stated it believes the closures can be completed "with limited disruption to customers, as there is no significant geographic concentration among the affected locations."

The filing itemizes estimated pre-tax expenses connected to the branch closures as follows: severance and other personnel termination costs of approximately $0.2 million to $0.5 million; professional services fees of approximately $3 million to $3.5 million; and real estate write-downs and lease termination fees of approximately $17 million to $19 million. Of the total estimated expenses, between approximately $4 million and $5 million are expected to be cash-based. The company stated it expects to recognize substantially all of these expenses in the third quarter of 2026.

Separately, under Item 7.01, the company disclosed a broader set of restructuring initiatives referenced from its July 16, 2026, earnings conference call. These Initiatives include operating model and organizational redesign, branch network optimization, and other operating efficiency improvements. Aggregate pre-tax expenses for all Initiatives in the third quarter of 2026 are estimated at $40 million to $45 million. The filing states that once fully implemented, the Initiatives are expected to positively impact annual pre-provision net revenue in an estimated range of approximately $37 million to $42 million, though the company noted it "may reinvest a portion of the anticipated benefits into strategic growth initiatives." All estimates and forward-looking statements in the filing are subject to the company's cautionary language regarding risks and uncertainties.

What Was Disclosed

Simmons First National Corporation disclosed a decision to close 26 bank branches effective December 4, 2026, with estimated pre-tax costs of $20 million to $23 million, and outlined broader restructuring initiatives expected to cost $40 million to $45 million in the third quarter of 2026.