SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT



           Pursuant to Section 13 or 15(d) of the Exchange Act of 1934


         Date of Report (Date of earliest event reported) June 30, 1998




                       SIMMONS FIRST NATIONAL CORPORATION
             (Exact name of registrant as specified in its charter)




      Arkansas                         0-6253                    71-0407808
(State or other jurisdiction of     (Commission             (I.R.S. employer
 incorporation or organization)      file number)           identification No.)




 501 Main Street, Pine Bluff, Arkansas                               71601
(Address of principal executive offices)                           (Zip Code)





                                 (870) 541-1000
              (Registrant's telephone number, including area code)






ITEM 5.  OTHER EVENTS.

         The following is the text of a press release  issued by the  registrant
at 3:05 P.M. Central Standard Time on June 30, 1998:



FOR RELEASE:   June 30, 1998


          Simmons First Announces Sale of Mortgage-Servicing Portfolio

         Pine Bluff,  AR -- Simmons First National Bank announced today the sale
of its residential  mortgage-servicing  portfolio to First  Commercial  Mortgage
Company, an affiliate of First Commercial Corporation. The portfolio consists of
approximately $1.2 billion in residential mortgage loans.

         According  to J. Thomas May,  chairman and chief  executive  officer of
Simmons First National Bank, "The mortgage  servicing  business has historically
been a  contributor  to  the  profits  of our  company,  but  in  recent  years,
competitive pressures in the national mortgage marketing business,  coupled with
the regulatory environment for banking, have caused many banks to choose to exit
the mortgage  servicing  business.  Our decision to sell our mortgage  servicing
does not mean that we are getting out of the  mortgage  banking  business.  This
sale transaction  effects only the servicing of residential  mortgages for other
investors.  Simmons First National  Corporation  will continue to offer mortgage
and home equity loans throughout our network of affiliate banks."

         "The  portfolio  sale will not have a  material  effect on the  current
earnings of Simmons First, but will allow us to re-deploy  resources into higher
growth   business   activities  that  we  believe  will  enhance  our  long-term
profitability."

         Simmons  First  National  Bank is the flagship bank of the $1.3 billion
Simmons First National Corporation, headquartered in Pine Bluff. The corporation
conducts banking  operations from 40 offices in 21 communities  through banks in
Pine Bluff, Dumas,  Jonesboro,  Lake Village,  Rogers,  Russellville and Searcy,
Arkansas.






FOR MORE INFORMATION CONTACT:
Lawrence Files
Vice President - Marketing Group
870-541-1438
1-800-272-2213
FAX 870-541-1045




                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                        SIMMONS FIRST NATIONAL CORPORATION


Date:   June 30, 1998            By:  /s/ J. Thomas May
     -----------------              ---------------------------------------
                                    J. Thomas May, Chairman, President &
                                      Chief Executive Officer