#1First Simmons Corporation | NASDAQ: SFNC Simmons Banks Contents 4 Q2 Key Highlights 5 Q2 Results Overview 14 Loans 21 Deposits, Liquidity, Investments & Capital 27 Credit Quality 32 Performance Trends 38 Corporate Profile 46 Appendix 2nd Quarter 2021 Investor Presentation Residence Inn#2Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements. Certain statements by Simmons First National Corporation (the "Company", which where appropriate includes the Company's wholly-owned banking subsidiary, Simmons Bank) contained in this presentation may not be based on historical facts and should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology, such as "anticipate," "estimate," "expect," "foresee," "project," "may," "might," "will," "would," "could," "likely" or "intend," future or conditional verb tenses, and variations or negatives of such terms. These forward-looking statements include, without limitation, those relating to the Company's future growth; revenue; expenses (including interest expense and non-interest expenses); assets; asset quality; profitability; earnings; critical accounting policies; accretion; net interest margin; non-interest revenue; market conditions related to and impact of the Company's common stock repurchase program; adequacy of the allowance for loan losses; income tax deductions; credit quality; level of credit losses from lending commitments; net interest revenue; interest rate sensitivity; loan loss experience; liquidity; capital resources; market risk; the expected benefits, milestones, or costs associated with the Company's merger and acquisition strategy and activity; the Company's ability to recruit and retain key employees; the ability of the Company to manage the impact of the COVID-19 pandemic; the impacts of the Company's and its customers participation in the Paycheck Protection Program ("PPP"); increases in the Company's security portfolio; legal and regulatory limitations and compliance and competition; anticipated loan principal reductions; fees associated with the PPP; plans for investments in securities; statements under the caption "Management's Outlook" on slides 8, 9 and 30; the charges, gains, and savings associated with completed and future branch closures and branch sales; expectations and projections regarding the Company's COVID-19 loan modification program; and projected dividends. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation in that actual results could differ materially from those indicated in or implied by such forward-looking statements, due to a variety of factors. These factors include, but are not limited to, changes in the Company's operating or expansion strategy; the availability of and costs associated with obtaining adequate and timely sources of liquidity; the ability to maintain credit quality; the effect of steps the Company takes in response to the COVID-19 pandemic; the severity and duration of the pandemic, including the effectiveness of vaccination efforts and developments with respect to COVID-19 variants; the pace of recovery when the pandemic subsides and the heightened impact it has on many of the risks described herein; the effects of the pandemic on, among other things, the Company's operations, liquidity, and credit quality; general market and economic conditions; unemployment; possible adverse rulings, judgments, settlements and other outcomes of pending or future litigation (including litigation arising from the Company's participation in and administration of programs related to the COVID-19 pandemic (including the PPP)); the ability of the Company to collect amounts due under loan agreements; changes in consumer preferences and loan demand; effectiveness of the Company's interest rate risk management strategies; laws and regulations affecting financial institutions in general or relating to taxes; the effect of pending or future legislation; the ability of the Company to repurchase its common stock on favorable terms; the ability of the Company to successfully implement its acquisition and branch strategy; the ability to satisfy closing conditions and receive regulatory approvals associated with the Company's pending mergers and acquisitions; delays in closing the Company's pending mergers and acquisitions; changes in interest rates, deposit flows, real estate values, and capital markets; inflation; customer acceptance of the Company's products and services; changes or disruptions in technology and IT systems (including cyber threats, attacks and events); changes in accounting principles relating to loan loss recognition (current expected credit losses, or CECL); the benefits associated with the Company's early retirement program and completed and future branch closures and sales; and other risk factors. Other relevant risk factors may be detailed from time to time in the Company's press releases and filings with the U.S. Securities and Exchange Commission, including, without limitation, the Company's Form 10-K for the year ended December 31, 2020. Any forward-looking statement speaks only as of the date of this presentation, and the Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this presentation. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. Non-GAAP Financial Measures. This presentation contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (GAAP). The Company's management uses these non-GAAP financial measures in their analysis of the Company's performance. These measures adjust GAAP performance measures to, among other things, include the tax benefit associated with revenue items that are tax-exempt, as well as exclude from income available to common shareholders, non-interest income, and non-interest expense certain income and expenses related to significant non-core activities, such as merger-related expenses, expenses related to the Company's early retirement program, gain on sale of branches, and net branch right-sizing expenses. In addition, the Company also presents certain figures based on tangible common stockholders' equity, tangible assets, and tangible book value, which exclude goodwill and other intangible assets. The Company further presents certain figures that are exclusive of the impact of PPP loans. The Company's management believes that these non-GAAP financial measure are useful to investors because they, among other things, present the results of the Company's ongoing operations without the effect of mergers or other items not central to the Company's ongoing business, as well as normalize for tax effects. Management, therefore, believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company's core businesses, and management uses these non-GAAP measures to assess the performance of the Company's core businesses as related to prior financial periods. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, can be found in the appendix to this presentation. $ 2#3Important Additional Information and Where to Find It This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed transactions ("Proposed Transactions") with Landmark Community Bank ("Landmark") and Triumph Bancshares, Inc. ("Triumph"). No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. In connection with the Proposed Transactions, the Company has filed with the SEC a registration statement on Form S-4 (the "Registration Statement") that includes proxy statements of each of Landmark and Triumph and a prospectus of the Company (the "Joint Proxy Statement/Prospectus"), and the Company may file with the SEC other relevant documents concerning the Proposed Transactions. The definitive Joint Proxy Statement/Prospectus will be mailed to shareholders of Landmark and Triumph. SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTIONS CAREFULLY AND IN ITS ENTIRETY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BY THE COMPANY, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Free copies of the Joint Proxy Statement/Prospectus, as well as other filings containing information about the Company, may be obtained at the SEC's Internet site (http://www.sec.gov), when they are filed by the Company. You will also be able to obtain these documents, when they are filed, free of charge, from the Company at simmonsbank.com under the heading "Investor Relations." Copies of the Joint Proxy Statement/Prospectus can also be obtained, free of charge, by directing a request to Simmons First National Corporation, 501 Main Street, Pine Bluff, Arkansas 71601, Attention: Ed Bilek, Director of Investor Relations, Email: [email protected] or [email protected], Telephone: (870) 541-1000, to Triumph Bancshares, Inc., 5699 Poplar Avenue, Memphis, TN 38119, Attention: Will Chase, President, Telephone: (901) 333-8800, or to Landmark Community Bank, 1015 West Poplar Avenue, Collierville, TN 38017, Attention: Jake Farrell, Chairman, Telephone: (901) 850-0555. Participants in the Solicitation The Company, Landmark, Triumph and certain of their directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Landmark or Triumph in connection with the Proposed Transactions. Information about the Company's directors and executive officers is available in its proxy statement for its 2021 annual meeting of shareholders, which was filed with the SEC on April 15, 2021. Information regarding all of the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the Joint Proxy Statement/Prospectus regarding the Proposed Transactions and other relevant materials to be filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph. $ 3#428% vs Q VS Q121 Core EPS up 17% Loan production in 1H21 originations; loan yields held steady $1.8B and deposit costs decline further on pace to significantly exceed 2020 volume NPL ratio declines Q221 Key Highlights EPS of $0.69 up 1 Positive performance in a challenging environment; focused on fundamental blocking and tackling Loan paydowns continue to outpace 2 Recapture of credit losses driven by 3 improved credit credit quality quality metrics, improved macroeconomic factors TBVPS (¹) up $1.03 or 4 5 Resumption of active M&A program with pending acquisitions of Landmark and Triumph F Strong organic capital generation and significant capital buffer even after announced M&A transactions 24 6% bps vs Mar-21 vs Mar-21 Disciplined pricing ~7.5% EPS accretive in first full-year(2) Adjusted PTPP earnings (1) +2% vs Q121 Total deposits up $1.3B VS Dec-20 ACL/Loan Ratio at 2.00% +7 bps vs Mar-21 Amended and extended share buyback program ~$150M (1) Non-GAAP measures that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. M remain remaining capacity Enhances scale in key growth markets Tennessee 13th Memphis 9th 35th 6th Nashville 20th 15th (2) Represents the estimated combined impact to EPS for the pending acquisitions of Landmark Community Bank and Triumph Bancshares, Inc. in the first full- year of operations. 4#5Q221 Results Overview $ 5#6M&A: Adding scale in key growth markets Pending acquisitions of Landmark Community Bank and Triumph Bancshares, Inc. will create the 9th largest bank in Tennessee (1) $ in billions $ LANDMARK Triumph IT'S ALL ABOUT THE EXPERIENCE Triumph Pro Forma Assets Bank Loans $23.4 $1.0 $0.9 $25.3 11.4 Deposits 0.8 0.7 12.9 18.3 Branches 0.8 0.8 19.9 Deposit market share () (rank): 198 8 6 212 Tennessee 13th Memphis MSA 34th 35th 9th 35th Nashville MSA 12th 10th 6th 20th 39th 50th 15th In addition to the strategic value, low-risk transactions that are financially compelling (~7.5% accretive to EPS (2) and slightly accretive to TBVPS (2)) Source: S&P Global Market Intelligence; SFNC financial data as of June 30, 2021, Landmark and Triumph data as of March 31, 2021. $ (1) Based on deposit market share data as of June 30, 2020. (2) Estimated EPS accretion in first full year excluding one-time merger related costs; estimated impact on TBVPS. 6#7Q221 Financial Highlights Summary Income Statement % Change vs (2) CORE % Change $ in millions Interest income Q221 Q121 Q220 Q121 Q220 Q221 Q121 $167.0 $169.4 $191.7 (1) % (13) % $ 167.0 (1)% Interest expense 20.4 22.8 28.0 (10) (27) 20.4 (10) Net interest income 146.5 146.7 163.7 (10) 146.5 (1) (2) Noninterest income 47.9 50.3 48.8 (5) (2) 47.5 6 Noninterest expense (1) (2) 115.5 113.8 116.2 1 (1) 114.3 1 Operating income 79.0 83.2 96.3 (5) (18) 79.7 1 Provision for (recapture of) credit losses (13.0) 1.4 21.9 NM NM (13.0) NM Provision for income taxes (2) 17.0 14.4 15.6 18 9 17.2 31 31 (2) Net income $74.9 $67.4 $58.8 11 % 27 % $75.4 18 % (2) Diluted earnings per share $0.69 $0.62 $0.54 11 28 $0.69 17 Key Performance Ratios % Change vs Q221 Q121 Q220 Q121 Q220 CORE (2) Q221 Return on average assets (ROA) 1.29 % 1.20 % 1.08 % 1.30 % Return on average common equity (ROCE) 10.08 9.20 8.21 10.15 Efficiency ratio (2) Book value per share Return on average tangible common equity (ROTCE) Net interest margin (FTE) Tangible book value per share (2) 17.25 15.85 14.55 17.36 56.93 57.43 51.13 56.93 2.89 2.99 3.42 2.78 (2) $28.03 17.16 $27.04 $26.64 16.13 15.79 46 4 % 59 5 % $ NM - not meaningful FTE = Fully Taxable Equivalent (1) During Q221, certain debit and credit card transaction fees were reclassified from noninterest expense to noninterest income under the caption debit and credit card fees. Prior periods have been adjusted to reflect this reclassification. (2) Non-GAAP measures that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 7#8Net Interest Income and Margin Net Interest Income $ in millions; Fully Taxable Equivalent Core NII (FTE) up +1% despite challenging environment Net Interest Income Evolution $ in millions $166.0 $156.5 $158.4 $150.8 0% Continued focus on actively managing deposit costs $151.1 $146.7 $1.2 $2.3 $146.5 ($2.7) ($1.0) +1% $154.3 $147.5 $149.4 $144.2 $145.5 Q220 Q320 Q420 Q121 Q221 ■CORE NII (1) Q121 Net Interest Income A in PPP Contribution A in Accretion Contribution A in Interest Income ex PPP & Accretion A in Interest Expense Q221 Net Interest Margin Fully taxable equivalent Lower NIM due to high levels of excess liquidity 3.42 3.21 3.22 2.99 3.18 2.89 3.02 3.04 2.86 2.78 Loan & Deposits Yield/Rates Fully taxable equivalent (%) 4.84 4.52 4.75 4.73 4.54 4.29 4.74 4.47 4.53 4.54 + 3 bps Holding loan yields stable while driving down deposit costs 0.44 0.39 0.34 0.30 Core Loan Yield (1) (ex PPP) Q221 vs Q121 0.24 Q220 Q320 Net Interest Margin (%) Q420 $ Q121 Q221 Core Net Interest Margin (1) (%) Q220 Q320 Q420 Q121 Q221 Loan Yield Core Loan Yield (1) Cost of Deposits (1) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 8#9Noninterest Income Noninterest Income to Total Revenue $ in millions Q221 Q121 Q220 Q121 % Change vs Q220 Service charges on deposit accounts $10.1 $ 9.7 $ 8.6 3 % 17 % Debit and credit card fees (1) 7.9 7.4 6.6 6 20 Trust income 7.2 6.7 7.3 9 . 24.6% 24.5% Mortgage lending income 4.5 6.4 12.5 (30) (64) Other service charges and fees 2.0 1.9 1.5 7 38 8 000 Bank owned life insurance 2.0 1.5 1.4 34 41 Investment banking income 0.7 0.7 0.6 (6) 15 SBA lending income 0.3 0.2 0.2 20 17 Gain (loss) on sale of securities 5.1 5.5 0.4 (6) NM Other 8.1 10.3 9.8 (21) (17) Q221 Total noninterest income $47.9 $50.3 $48.8 (5) % (2) % (2) Core noninterest income $47.5 $44.9 $46.6 6% 2 % 25.6% 23.4% Q2121 22.2% 21.3% ■ Reported Core (2) Q220 Management's Revenue Outlook Net Interest Income: Trust Revenue: Services Charge: Mortgage Revenue: Debit and Credit Card Fees: Gain on Sale of Securities: Other Income: NIM will continue to be impacted by PPP forgiveness and excess liquidity. Loan origination volume expected to continue growing, but masked by paydowns given stimulus programs which are expected to begin subsiding in second half of the year Anticipate flat revenue for Q3; new associates have been added and continuing to actively recruit new producers Continue to be impacted by stimulus While we expect mortgage volume to continue to decline throughout 2021 given macroeconomic environment, offset by recruitment of new producers Anticipate modest increase for the remainder of 2021 as consumer spending increases Will continue to be opportunistic when market conditions arise Expect other income to more closely track historical trends for the remainder of 2021 $ (1) During Q221, certain debit and credit card transaction fees were reclassified from noninterest expense to noninterest income under the caption debit and credit card fees. Prior periods have been adjusted to reflect this reclassification. (2) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 9#10Noninterest Expense $ in millions Q221 Q121 Q220 Q121 % Change vs Q220 Salaries and employee benefits $60.3 $60.3 $57.6 - % 5 % Occupancy expense, net 9.1 9.3 9.2 (2) (1) Furniture and equipment 4.9 5.4 6.1 (10) (21) Management's Expense Outlook Salaries and Employee Benefits Anticipate some increases throughout the remainder of the year as associates are hired in lending, wealth and mortgage Occupancy Expense Expect to be flat to slightly down for the remainder of 2021 Deposit insurance 1.7 1.3 2.8 29 (41) Other OREO and foreclosure expense 0.9 0.3 0.3 152 215 Merger related costs 0.7 0.2 1.8 194 (63) (1) Other 38.0 36.9 38.2 3 (1) Total noninterest expense $115.5 $113.8 $116.2 1 % (1) % Emphasis on enhancing efficiencies throughout the organization. Will continue to invest in further developing digital capabilities Noninterest Expense Anticipate quarterly run-rate of approximately $112 - $115 million for the remainder of 2021 Core noninterest expense (2) $114.3 $112.9 $112.1 1% 2 % Note: Excludes impact of pending acquisitions Efficiency ratio (2) Employees (headcount) Number of Branches 226 57.43% 56.93% 2,989 2,842 2,797 51.13% Q220 Q121 Q221 Q220 Q121 Q221 Q220 198 198 Q121 Q221 Focused on maintaining strong expense discipline while enhancing revenue capabilities and balancing digital and non-digital delivery channels (1) During Q221, certain debit and credit card transaction fees were reclassified from noninterest expense to noninterest income under the caption debit and credit card fees. Prior periods have been restated to reflect this change. (2) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. $ 10#11Branch Rightsizing Initiative Number of Active Branches 249 242 242 227 204 198 198 Branch Sales Number of Location Date Sold Branches Deposits in millions Loans in millions Gain on Sale in millions South TX Feb. 2020 5 $140 $261 $5.9 Colorado May 2020 4 $63 $121 $2.2 Illinois Mar. 2021 4 $138 $0.4 $5.3 Branch Closings Location Q419 Q120 Q220 Q320 Q420 Q121 Q221 Date Closed Number of Branches One-time Charge in millions Landrum Branches Feb. 2020 6 $0.4 Completed the closing or sale of 51 branches (20%) since 12/31/19 Various June 2020 11 $1.9 Various Oct. 2020 23 $9.6 Continuous evaluation of branch network to ensure it reflects core footprint and changes in customer behavior while allowing us to efficiently serve their evolving needs During Q221 announced planned closure of 12 additional branches including: 4 in Arkansas, 3 in Missouri, 2 in Texas and 1 each in Kansas, Oklahoma and Tennessee $ 11#12Digital Banking: Deposit origination with automated ID scan AA 9:57 open.simmonsbank.com I Welcome! You need three simple things to open your account with us: COIN CHECKING 1. Driver's License / State ID . 2. Social Security Number • Streamlined and engaging account opening process о Utilizes information from customer drivers' license/state ID to populate application о Integrated with state DMVS to confirm authenticity Does not require a current banking account to fund from Customers can begin using right away No monthly service charge(1) Includes a Visa debit card (2) Bank when you want, where you want 3. Five minutes or less Click CONTINUE to get started. For optimal experience please use: Safari on iPhone Google Chrome on Android BACK CONTINUE Launched in Q221 and available in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas MMONS BANK VISA DEBIT/MASTERCARD Simmon Welcome to Coin Checking™" Follow these five easy steps to get going. Tim 3 Take me out you 1 Pick me up 园 Keep your phone charged with your wireless power bank Activate me O YO 10% your debit card and Simmons Bank. bur gft to you for Sons Bank c High-impact Welcome Kit Get the app ם אם 95 Simmons Bank ever you want, wherever vith Coin Checkina - Note: No minimum balance required at account opening. A minimum of $0.01 required within 45 days of account opening. Accounts not funded within 45 days of opening will be closed. All accounts subject to approval. Restrictions apply. Benefits and features are subject to customer qualification and approval by Simmons Bank. $ (1) Data connection required. Wireless carrier fees may apply. (2) Simmons Bank Debit Card issuance is subject to customer qualification and approval by Simmons Bank. mmonsbank.com/digital Simmons 12#13Digital Banking Growth Digital Banking Users Digital Banking Logins Q220 +24% Q420 Customer Transactions by Channel Digital up +31% $ Q221 Q220 +17% Q420 Q221 Mobile Deposit Dollars +64% Q220 Q420 Q221 Branch Transactions Digital Transactions Q220 Q420 Q221 13#14LOANS $ 14 14#15Loans - Including PPP Loans $ in millions Total Loan Portfolio as of December 31, 2020 Balance as of June 30, 2021 % of % of Unfunded Total Balance Total Classified Nonperforming ACL Loans Loans $ $ % Commitment $ Unfunded Commitment Reserve Consumer Credit Card 189 2% 178 2% 3.1% Consumer - Other 202 2% 182 2% 1 1 0.6% 20 Real Estate - Construction 1,596 12% 1,428 13% 16 2 1.8% 615 Real Estate Commercial 5,747 45% 5,333 47% 202 30 2.9% 173 Real Estate - Single-family 1,881 15% 1,608 14% 26 19 0.4% 216 Commercial 2,574 20% 2,074 18% 64 29 1.4% 1,012 Agriculture 176 1% 193 2% 1 0.2% 94 Other 536 4% 390 3% 0.6% 1 Total Loan Portfolio 12,901 100% 11,386 100% 311 81 2.00% 2,130 1.1% Loan Concentration: C&D CRE 68% 241% 58% 211% Select Loan Categories Retail 1,243 10% 1,149 10% Nursing/Extended Care 445 3% 414 4% Healthcare 588 5% 443 4% Multifamily 764 6% 647 6% 19 Hotel Restaurant NOO Office Energy 969 8% 888 8% 125 496 4% 460 4% 781 6% 709 6% 247 2% 174 2% 39 23222222 21 5 4.4% 81 1.2% 34 10 1 0.6% 61 1.3% 73 15 6.9% 15 1 2.5% 16 3.7% 41 16 12.5% 49 $ 15#16Loans - Excluding PPP Loans as of December 31, 2020 as of June 30, 2021 % of % of $ in millions Balance $ Total Balance Total Classified Loans $ Loans $ $ % Unfunded Unfunded Nonperforming ACL Commitment Commitment $ Reserve Total Loan Portfolio (1) Consumer Credit Card 189 2% 178 2% 3.1% Consumer Other 202 2% 182 2% 1 1 0.6% 20 Real Estate Construction 1,596 13% 1,428 13% 16 2 1.8% 615 Real Estate Commercial 5,747 48% 5,333 49% 202 30 2.9% 173 Real Estate - Single-family 1,881 16% 1,608 15% 26 19 0.4% 216 Commercial 1,669 14% 1,633 15% 64 29 1.8% 1,012 Agriculture 176 1% 193 2% 1 0.2% 94 Other 536 4% 390 4% - 0.6% 1 Total Loan Portfolio 11,996 100% 10,945 100% 311 81 2.08% 2,130 1.1% Loan Concentration: C&D CRE 68% 241% 58% 211% Select Loan Categories Retail 1,211 Nursing/Extended Care 427 Healthcare 470 Multifamily 762 Hotel Restaurant NOO Office Energy $ 948 385 781 230 (1) All PPP loans were categorized as commercial. សំ ៖ ៖ ៖ ៖ ៖ ៖ ៖ 10% 1,133 10% 21 409 4% 4% 386 4% 10 647 6% 19 870 8% 125 389 4% 709 160 6% die de de 1% 39 23222222 5 4.4% 81 - 1.2% 34 1 0.7% 61 1.3% 73 15 6.9% 15 1 2.6% 16 3.7% 41 16 13.6% 49 16#17Evolution of Loan Portfolio Loan Portfolio Waterfall $ in billions Full-Year 2020 $0.9 $3.0 ($0.4) First Half 2021 $14.4 $1.8 Originations /Advances PPP, net Branch/ Loan Sales $12.9 ($0.4) ($5.0) Includes loans sold in connection with the sale of branches in South Texas and Colorado Paydowns/ payoffs & other Originations /Advances PPP, net ($2.9) Paydowns/ payoffs & other $11.4 Total loans at 12/31/19 CRE Concentration 12/31/19 293% 6/30/21 211% $174M Energy Portfolio $467M Total loans at 12/31/20 Includes strategic decision to exit or reduce exposure in certain portfolios: non- core CRE, energy & indirect lending Total loans at 6/30/21 Loan production totals $1.8 billion during 1H21, ahead of full-year 2020 pace but growth masked by continued high levels of paydowns/payoffs and PPP $ 17#18Commercial Loan Pipeline Trend by Category (1) $ in millions 4.70% $1,152 $291 $220 4.10% 4.37% $1,291 $1,180 4.12% 3.81% $285 3.77% $467 $674 $177 $408 $381 $374 $72 $70 $250 $90 $112 $484 $641 $219 $192 $247 $487 $340 Q120 Q220 Q320 Q420 Q121 Q221 Opportunity Proposal Ready to Close Rate Ready to Close Commercial loan pipeline strengthens for 3rd consecutive quarter (1) Quarterly amounts adjusted for branches sold in South Texas and Colorado during 2020. $ 18#19Mortgage Loan Volume - Closed and Pipeline $ in millions $800 Mortgage Loan Volume - Closed by year: 2019 = $0.8B ■Mortgage Closed Loan Volume Mortgage Pipeline Volume 2020 = $1.3B $700 $600 $500 $400 $300 $86 $92 $51 $145 $239 $307 $214 $166 $120 $200 $77 $100 $126 $224 $243 $181 $183 $319 $408 $399 $326 $274 $0 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 $ Mortgage originations during Q221 reflect shift in market 58% purchase vs 42% refinance 19#20PPP Loans # of Original 6/30/21 3/31/21 Balance Balance Balance $ Change SBA U.S. Small Business Administration $ in millions Loans Originated Net Fees Remaining PPP Phase I $ 976 $ 141 $ 570 $ (429) 8,208 $ 1.6 Paycheck Protection Program ASBA loan that helps businesses keep their workforce employed during the Coronis (VID PPP Phase II 319 300 228 72 5,219 15.6 14 Total $ 1,295 $ 441 $ 798 $ (357) 13,427 $ 17.2 PPP Summary ☐ PPP Loans are assigned a risk weighting of zero percent. ☐ Average loan amount $110,000. ☐ Smallest loan amount $140. ☐ Loan yield of 5.08% for the second quarter of 2021 (includes amortization of SBA ☐ fee income net of expenses). Forgiveness process in place. $ PPP Round 2 System and process in place for Round 2 of PPP. Funding started in January 2021. PPP ended on May 31, 2021. PPP Phase II loan originations are running at approximately 33% of PPP Phase I loan originations (based on original loan balance) 20 20#21DEPOSITS, LIQUIDITY, INVESTMENTS AND CAPITAL $ 21 21#22Deposits Composition $ in billions $20.0 1.09% 1.07% $17.5 $15.0 $12.0 $13.5 $12.5 $10.0 $7.5 $5.0 $2.5 $1.3 billion increase $16.1 $17.0 $16.6 $16.2 0.94% $15.6 0.80% $18.2 $18.3 1.10% 1.00% 0.90% 0.80% 0.70% 0.60% 0.50% 0.44% 0.34% 0.40% 0.39% 0.30% 0.24% 0.30% 0.20% $0.0 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Noninterest Bearing Interest Bearing Transactions Time Deposits Cost of Deposits Interest Bearing Deposit Repricing " Interest Rates - In March 2020, the Fed reduced the Fed Funds target rate by 150 basis points Interest Bearing Transaction Deposits - Rates were lowered during the latter part of the first quarter of 2020 Time Deposits - Rates were lowered during the latter part of the first quarter of 2020. Based on maturities, we expect there will be a continued lag in the impact to interest expense Effectively managing deposit costs, down 20 bps since Q220 $ 22#23Liquidity and Securities Portfolio Cash and Cash Equivalents $ in millions Strategically deployed excess cash primarily into short-term securities and BOLI $997 $655 $530 $1,737 $2,545 $2,522 Securities Portfolio Summary $ in millions Par Projected Duration As of 6/30/21 AFS HTM Value Yield in Years $3,905 Fixed Rate Down $3,472 MBS $2,600 1.29% 4.0 98% 2% $1.6B Municipal 2,284 2.92% 7.7 66% 34% Treasury/Agency 540 1.82% 6.3 86% 14% Other 612 2.49% 5.1 99% 1% $2,339 Variable Rate Total 1,267 0.33% 1.0 100% $7,303 1.78% 4.9 87% 13% Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121 Q221 $ ☐ ☐ Purchased $2.5 billion of investment securities in the quarter, including strategically redeploying a portion of excess cash into variable rate securities ($1.1 billion) Securities portfolio duration shortened to 4.9 years at 6/30/21 compared to 6.5 years at 3/31/21 Redeployed a portion of excess cash into an additional investment in BOLI ($160 million) during the quarter Still maintain approximately $2.3 billion in Cash and Cash Equivalents as of 6/30/21. 23#24Regulatory Capital Ratios 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% TIER 1 LEVERAGE RATIO(1) 9.2% 8.8% 16.0% 9.3% Excluding PPP Loans (2) 9.6% 14.0% 9.1% 9.0% 4.0% 2017 2018 2019 2020 Q221 16.0% 14.0% 12.0% TIER 1 RISK-BASED CAPITAL RATIO(1) 10.0% 10.9% 10.2% 9.8% 8.0% 6.0% 12.0% CET1 CAPITAL RATIO(1) 14.2% 13.4% 10.0% 10.9% 10.2% 9.8% 8.0% WELL CAPITALIZED 6.0% 5.0% 4.0% 2017 2018 2019 2020 Q221 TOTAL RISK-BASED CAPITAL RATIO (1) 20.0% 18.0% 14.2% 16.0% 13.4% 17.5% 16.8% 14.0% 13.7% 13.4% 12.0% WELL CAPITALIZED 10.0% 11.4% 8.0% 8.0% 6.0% 4.0% 2017 2018 2019 2020 Q221 4.0% 2017 2018 2019 2020 Q221 $ (1) As of December 31, except where otherwise stated. (2) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. WELL CAPITALIZED 6.5% WELL CAPITALIZED 10.0% 24 24#25Stock Repurchase Program $ in millions SHARE REPURCHASES BY QUARTER F $90.0 $93.3 $80.0 $70.0 $60.0 $50.0 $40.0 Suspended Plan $30.0 $20.0 $20.0 $10.0 $10.1 $3.1 $0.0 $0.0 $0.0 $0.0 Q419 Q120 Q220 Q320 Q420 Q121 Q221 ■ ◉ ☐ Summary of stock repurchases since reinitiating program in Q4 2019: - $127 million - - 6.5 million shares or about 5.7% of outstanding (based on shares outstanding at 12/31/19) Average price $19.53 Did not repurchase shares in Q221 primarily due to M&A transactions Authorization increased to $276.5 million; timeline extended to 10/31/22 ■ ~$150.0 million remaining capacity under amended plan Board increased authorization and extended timeline for stock repurchase program in July 2021 25#26Book Value & Tangible Book Value $3,250 $3,000 BOOK VALUE ($ IN MILLIONS)(1) $2,750 $2,500 $2,250 $2,246 $2,000 $2,085 $1,750 $1,500 $1,250 $1,000 $750 $500 2017 2018 $2,000 $2,988 $3,039 $2,976 $1,750 $1,500 TANGIBLE BOOK VALUE ($ IN MILLIONS)(1)(2) $1,250 $1,309 $1,136 $1,000 $750 $500 2019 2020 Q221 2017 2018 BOOK VALUE PER COMMON SHARE (1) $1,860 $1,805 $1,789 2019 2020 Q221 TANGIBLE BOOK VALUE PER COMMON SHARE (1)(2) $30.00 $20.00 $28.00 $28.03 $26.00 $27.53 $18.00 $26.30 $24.00 $24.33 $22.00 $16.00 $22.65 $17.16 $16.56 $15.89 $20.00 $18.00 $14.00 $14.18 $16.00 $14.00 $12.00 $12.34 $12.00 $10.00 $10.00 2017 2018 2019 2020 Q221 2017 2018 2019 2020 Q221 $5 (1) As of December 31, except where otherwise stated. (2) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 26#27Q221 Credit Quality $ 27#28Completed a deep dive of certain pandemic impacted sectors... Retail MSA Concentration (1) Office MSA Concentration (1) Hotel MSA Concentration (1) 2% Dallas-Ft Worth ■ St Louis 3% 32% 36% Oklahoma City 3% NW Arkansas 4% ■Little Rock 4% 2% 4% 4% 16% Retail Tenancy Mix(2) by square feet ■Memphis ■Nashville Other | 10% 16% ■Dallas-Ft Worth ■ St Louis 27% 37% Oklahoma City 35% ■NW Arkansas Little Rock Memphis ■ Nashville 2% 8% 4% 3% 19% Other 10% Office Tenancy Mix(2) by square feet ■Chain Retail 2% 13% ■ Vacant 11% 2% Privately Owned 2% 28% 4% 33% Retail 3% 5% ■Gym 4% 5% ■ Independent Restaurant Professional Services 6% ■ Healthcare 21% 6% 14% Chain Restaurant 14% ■ Other | ■ Vacant Occupancy (2) ■ Professional Services | 80% ■Manufacturing / 70% Warehouse Healthcare 60% | 50% ■ Construction/ Engineering ■Government 40% | 30% Privately Owned 20% 27% Retail Chain Retail ■ Other 10% 0% Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 • Reviewed all loans over $2 million Sample size represents 70% of the Permanent NOO Retail Portfolio F (1) MSA concentration of entire portfolio. Reviewed all loans over $3 million Sample size represents 75% of the Permanent NOO Office Portfolio (2) Information based on sample size used in deep dive review of portfolio. • • 07-unr 19% Dallas-Ft Worth ■ St Louis Nashville ■ Chatanooga ■Little Rock ■Memphis ■ Other Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Individually reviewed hotels that were stabilized prior to COVID and > $5 million Sample size represents 59% of Hotel Portfolio 28#29. that confirmed the improving health of each of our portfolios Retail Risk Rating Composition 2% Office Risk Rating Composition Hotel Risk Rating Composition 5% 93% Pass Pass Watch Special Mention Evolution of COVID-19 Loan Modifications 3% 14% 83% Pass ■ Pass Watch 24% Special Mention 15% 27% 34% Hotel Portfolio COVID-19 Loan Modification Status ($ in thousands) $ in millions 6/30/20 3/31/21 6/30/21 $800,000 $600,000 Balance of loans modified $3,495 $208 $134 $400,000 # of loans classified as modified 4,755 79 36 $200,000 $0 NO COVID Modification In COVID Modification $ ■June 2020 ■December 2020 Pass Pass Watch Special Mention Substandard Returned to Normal Payment ■June 2021 29#30Credit Quality $ in millions ASSET QUALTY TRENDS Nonperforming Loans / Loans ACL/ALLL (1) / Loans (%) and ACL/ALLL ($) 3.33% 3.50% $250 $225 3.00% 2.50% $200 2.50% 1.85% 2.00% 2.00% 2.50% $175 2.00% 1.68% $150 1.50% 1.14% 1.44% $125 1.05% 1.50% 0.96% $100 1.00% 0.81% 0.63% 0.66% 1.00% 0.67% 0.65% 0.71% $75 0.48% 0.46% 0.39% $50 0.50% 0.50% $25 $27 $29 $31 $36 $42 $57 $68 $238 $227 0.00% $0 0.00% 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q2 2013 2014 2015 2016 2017 2018 2019 2020 Q221 Nonperforming Assets / Assets Quarterly Trend 3/31/21 06/30/21 Change NPL / Loans 0.95% 0.71% (24) bps 3.78% 4.00% Nonperforming Loans $115.5 $80.9 ($34.6) 3.50% 3.00% NPA / Assets 0.55% 0.42% (13) bps 2.71% 2.50% Nonperforming Assets $127.9 $97.2 ($30.7) 2.00% 1.54% 1.45% Past Due 30+ Days / Loans 0.19% 0.16% (3) bps 1.50% 0.83% 1.00% 0.64% 0.55% 0.64% Net Charge-offs (2) / Loans (YTD) 0.10% 0.01% (9) bps 0.42% 0.50% 0.00% Credit Card Portfolio Net Charge-off Ratio (2) (YTD) 1.39% 1.58% +19 bps 2013 2014 2015 2016 2017 2018 2019 2020 Q221 ACL / Loans 1.93% 2.00% +7 bps Source: S&P Global Market Intelligence 2013-2020 (which metrics are as of December 31 of the relevant year) (1) ALLL for 2013 - 2019 and ACL 2020-2021 Q2. $ (2) YTD annualized net charge-offs. 30#31Allowance for Credit Losses (ACL) $ in millions Allowance for Credit Losses on Loans and Loan Coverage ALLL or ACL Loan Discount Total Loan Coverage ACL (ALLL)/ Loans ACL (ALLL)/ Loans excluding PPP (1) $ ALLL as of 12/31/19 CECL Day 1 Adoption Impact 2020 Provision Expense $ 68.2 $ 87.3 $ 155.5 0.47% 0.47% 151.4 (87.3) 64.1 82.5 82.5 2020 Net charge-offs (64.1) (64.1) ACL as of 12/31/20 Q1-21 Provision Q1-21 Net charge-offs $ 238.0 $ 0 $ 238.0 1.85% 1.98% 0.0 0.0 (2.9) (2.9) ACL as of 3/31/21 $ 235.1 $ 0 $ 235.1 1.93% 2.06% Q2-21 Recapture of Provision (10.0) (10.0) Q2-21 Net recoveries 2.1 2.1 ACL as of 6/30/21 $227.2 $ 0 $227.2 2.00% 2.08% Reserve for Unfunded Commitments as of 6/30/20 as of 9/30/20 as of 12/31/20 As of 3/31/21 As of 6/30/21 ACL Methodology as of 6/30/21: Quantitative allocation: 0.98% Moody's June 2021 scenarios with management's weighting: S1 (24%) / Baseline (66%) / S2 (10%) ☐ Unfunded Commitments $2,616 $2,344 $2,051 $2,039 $2,130 Qualitative allocation: 1.02% ☐ Reserve $24.4 $24.4 $22.4 $22.4 $22.4 $139MM in individually assessed loans with related reserves of $22MM Reserve/Unfunded Balance 0.9% 1.0% 1.1% 1.1% 1.1% Total ACL / Loans: 2.00% Management's Provision Expense Outlook Provision levels will reflect subsequent changes in Moody's Economic Scenario Forecast (noted above), and organic and acquired loan growth. CECL = Current Expected Credit Losses methodology for estimating ACL ACL = Allowance for Credit Losses on Loans $ (1) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 31#32PERFORMANCE TRENDS $ 32#33Net Interest Income $ in millions 2020 2021 2021 SCHEDULED ACCRETION Q2 Q3 Q4 Q1 Q2 Loan Yield(1) 4.84% 4.54% 4.74% 4.75% 4.73% Q1 (Actual) $6.6 Core Loan Yield (1)(2) Security Yield(1) 4.52% 4.29% 4.47% 2.50% 2.60% 2.48% 4.53% 4.54% 2.36% 1.97% Q2 (Actual) $5.6 Cost of Interest Bearing Deposits 0.59% 0.54% 0.47% 0.41% 0.32% Cost of Deposits 0.44% 0.39% 0.34% 0.30% 0.24% Q3 (Estimated) $2.2 Cost of Borrowed Funds 1.84% 1.85% 1.88% 1.91% 1.97% Net Interest Margin (1) 3.42% Core Net Interest Margin (1)(2) 3.18% 3.21% 3.22% 2.99% 2.89% 3.02% 3.04% 2.86% 2.78% Q4 (Estimated) $2.0 FY21 (Estimated) $16.4 Fed Funds Target Rate 0.25% 0.25% 0.25% 0.25% 0.25% $120 $114 $100 $80 $60 $77 HISTORICAL LOAN DISCOUNT BALANCE & ACCRETION INCOME $89 887 $87 $40 $40 $38 $20 $56 $46 $36 $28 $24 $49 $41 $35 440 $42 $28 $- $12 2013 2014 2015 2016 2017 2018 2019 2020 1H21 ■Loan Discount Balance Accretion Income F (1) Fully tax equivalent using an effective tax rate of 26.135%. (2) Non-GAAP measure that management believes aids in the discussion of results. See Appendix for Non-GAAP reconciliation. 33