Exhibit 99.1

Bear State Financial, Inc. Announces Record Earnings for 2014 and Consolidation of Bank Charters to Form Bear State Bank

FINANCIAL HIGHLIGHTS:

Little Rock, AR – February 26, 2015 – Bear State Financial, Inc. (“Bear State,” NASDAQ: BSF), today reported earnings of $4.8 million and earnings per diluted common share of $0.14 in the fourth quarter of 2014, compared to earnings of $199,000 or $0.01 per diluted common share in the fourth quarter of 2013, a 2,319% increase. Net income for the fourth quarter of 2014 includes an income tax benefit of $1.6 million primarily resulting from the reversal of most of the Company’s remaining valuation allowance against its deferred tax assets.

For the full year of 2014, net income was $24.3 million and earnings per diluted common share of $0.84, compared to net income of $729,000 or $0.03 per diluted common share for the full year of 2013. Net income for the full year of 2014 includes an income tax benefit of $21.9 million primarily resulting from the reversal of the Company’s valuation allowance against its deferred tax assets.

On June 13, 2014, Bear State completed its merger of First National Security Company (“First National”), the parent company for First National Bank headquartered in Hot Springs, Arkansas and Heritage Bank headquartered in Jonesboro, Arkansas. The Company’s results of operations for the twelve months ended December 31, 2014 includes results of operations for First National for the period from June 14, 2014 through December 31, 2014. Bear State’s three banks continue to progress towards more highly efficient and integrated operations. On February 13, 2015 the three banking charters were consolidated into a single charter forming Bear State Bank. The Company’s operational integration project is ongoing and includes the conversion of all bank operations to a single technology platform.  The Company expects the bulk of this integration project to be completed during the second quarter of 2015.

On December 15, 2014 the Company completed an 11% stock dividend by issuing one share of common stock for every nine shares of such stock outstanding as of December 1, 2014. Total shares outstanding at December 31, 2013 were 22,268,320 and at December 31, 2014 were 33,365,845. All share and per share information in this release has been adjusted to give effect to this stock dividend.

Company reported core earnings of $3.4 million in the fourth quarter of 2014, compared to $248,000 in the fourth quarter of 2013, a 1,284% increase. The fourth quarter of 2014 included two significant non-core items. First, the Company incurred merger and rebranding related expenses of approximately $265,000. Second, the Company realized a tax benefit of $1.6 million as a result of the reversal of the majority of the remaining valuation allowance against its deferred tax asset. Collectively, the net effect of all non-core items was an increase in earnings of approximately $1.4 million, or approximately $0.04 of diluted earnings per share.

Book value per common share was $5.11 at December 31, 2014, a 60% increase from $3.20 at December 31, 2013. Tangible book value per common share was $4.12 at December 31, 2014, a 29% increase from $3.20 at December 31, 2013.

Total loan growth for the twelve months ended December 31, 2014 for each of Bear State’s three banks was as follows: First Federal Bank 12%; First National Bank 1%; Heritage Bank 18%; or 9% on a consolidated basis.

FINANCIAL CONDITION

Total assets were $1.51 billion at December 31, 2014, a 176% increase compared to $549 million at December 31, 2013. Total deposits were $1.26 billion at December 31, 2014, a 169% increase compared to $470 million at December 31, 2013. The increase in both assets and deposits was primarily due to the First National merger. Total loans, including those acquired and held for sale, were $1.06 billion at December 31, 2014, an increase of $673 million, or 173%, compared to the same period in 2013.

Common stockholders’ equity was $170 million at December 31, 2014, a 140% increase from $71 million at December 31, 2013. Tangible common stockholders’ equity was $137 million at December 31, 2014, an 93% increase from $71 million at December 31, 2013. Book value per common share was $5.11 at December 31, 2014, a 60% increase from $3.20 at December 31, 2013. Tangible book value per common share was $4.12 at December 31, 2014, a 29% increase from $3.20 at December 31, 2013. The Company’s ratio of common stockholders’ equity to total assets decreased to 11.25% at December 31, 2014, compared to 12.97% at December 31, 2013. The calculation of the Company’s tangible book value per common share, tangible common stockholders’ equity and the reconciliation to GAAP are included in the schedules accompanying this release.

RESULTS OF OPERATIONS

Fourth quarter 2014 core earnings totaled $3.4 million or $0.10 per diluted common share, compared to core earnings of $248,000 or $0.01 per diluted common share in the fourth quarter of 2013. The core return on average assets measured 0.89% and 0.18%; core return on average equity measured 8.16% and 1.37%; and core return on average tangible equity measured 10.19% and 1.37% for these periods, respectively.

GAAP earnings include what the company considers non-core items. The reconciliation of net income and core income, together with related financial measures is included in the schedules accompanying this release. Non-core items totaled $1.4 million or $0.04 per diluted common share in the most recent quarter. Including these net non-core items, fourth quarter 2014 GAAP results were earnings of $4.8 million or $0.14 per diluted common share. GAAP net income was $199,000 or $0.01 per diluted common share in the fourth quarter of 2013. The GAAP net income resulted in a GAAP return on average assets of 1.25% in the most recent quarter, compared to 0.15% in the fourth quarter of 2013.

Net interest income for the fourth quarter 2014 was $13.3 million, compared to $3.9 million for the same period in 2013. Net interest income for the twelve months ended December 31, 2014 was $37.4 million, compared to $15.0 million for the same period in 2013. Interest income for the fourth quarter of 2014 was $14.9 million compared to $4.7 million for the same period in 2013. Interest income for the twelve months ended December 31, 2014 was $42.5 million compared to $18.4 million for the same period in 2013. The increase in interest income for the three and twelve months ended December 31, 2014, compared to the comparable periods in 2013, was primarily related to increases in the average balances of loans receivable and investment securities as a result of the merger with First National, which contributed interest income of approximately $9.7 million and $22.3 million of interest income for the three and twelve month periods ending December 31, 2014 respectively. Interest expense for the fourth quarter of 2014 was $1.6 million compared to $878,000 for the same period in 2013. Interest expense for the twelve months ended December 31, 2014 was $5.1 million compared to $3.4 million for the same period in 2013. The increase in interest expense for the three and twelve months ended December 31, 2014 compared to the same period in 2013 was primarily due to an increase in the average balance of deposit accounts as a result of the First National merger.

Net interest margin measured 3.91% for the fourth quarter 2014, compared to 3.12% for the same period in 2013. Net interest margin for the twelve months ended December 31, 2014 was 3.84%, compared to 3.09% for the same period in 2013. The Company’s net interest margin increased primarily as a result of an increase in yields on loans receivable resulting from loans acquired in the First National merger. The average cost of total interest-bearing liabilities decreased to 0.55% for the fourth quarter 2014, compared to 0.78% for the same period in 2013. Average cost of total interest-bearing liabilities for the twelve months ended December 31, 2014 was 0.60%, compared to 0.77% for the same period 2013.

Noninterest income is generated primarily through deposit account fee income, profit on sale of loans, and earnings on life insurance policies. Total noninterest income of $3.4 million for the three months ended December 31, 2014 increased from $1.4 million for the same period in 2013, a 139% increase. Total noninterest income of $10.0 million for the twelve months ended December 31, 2014 increased from $5.4 million for the same period in 2013, an 85% increase. The increase in the three and twelve month comparison periods was primarily due to an increase in deposit fee income and gain on sale of loans. The increase in gain on sale of loans was due to an increase in the number of mortgage loans sold and the average profit on loans held for sale.

Total noninterest expense increased $6.3 million or 124% during the fourth quarter of 2014 compared to the fourth quarter of 2013. Total noninterest expense increased $22.4 million or 114% during the twelve months ended December 31, 2014 compared to the same period in 2013. The variances in total noninterest expense were primarily related to First National. Noninterest expense attributable to First National for the three and twelve months ended December 31, 2014 amounted to $6.5 million and $13.7 million, respectively. In addition, noninterest expenses also increased due to the election to retire certain pension liabilities, an increase in loss provision on REO, and expenses related to the First National merger. The Company’s core efficiency ratio improved to 66.54% in the fourth quarter of 2014 compared to 95.31% in the fourth quarter of 2013.

Nonperforming assets declined 27% to $14.9 million at December 31, 2014, compared to $20.6 million at December 31, 2013. Nonperforming assets were 0.98% of total assets at December 31, 2014, compared to 3.75% at December 31, 2013. The allowance for loan losses represented 1.29% of total loans at December 31, 2014, compared 3.31% at December 31, 2013. The allowance for loan losses plus discount on acquired loans to total loans was 2.42% at December 31, 2014. The ratio of the allowance for loan losses to nonperforming loans was 139.82% at December 31, 2014, compared to 106.48% at December 31, 2013. Annualized net charge-offs as a percentage of average loans for the quarter ended December 31, 2014 were 0.22% compared to 0.36% for the quarter ended December 31, 2013. Provision for loan losses increased from $0 for the fourth quarter of 2013 to $758,000 for the fourth quarter of 2014. The provision was $600,000 for the third quarter of 2014. The increase in provision is attributable to loan growth at Bear State’s three banks and a migration of the First National renewed loans from the purchased loan portfolio to the originated loan portfolio.

About Bear State Financial, Inc.

Bear State Financial is the parent company for Bear State Bank. Bear State Financial, Inc. stock is traded on the NASDAQ Global Market under the symbol BSF.  For more information on Bear State Financial, please visit www.bearstatefinancial.com. Its principal subsidiary, Bear State Bank (the “Bank”), is a community oriented financial institution providing a broad line of financial products to individuals and business customers.  The Bank operates 46 branch offices throughout Arkansas and Southeast Oklahoma.

Non-GAAP Financial Measures

This release contains certain non-GAAP financial measures in addition to results presented in accordance with Generally Accepted Accounting Principles (“GAAP”). These non-GAAP measures provide supplemental perspectives on operating results, performance trends, and financial condition. They are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders. The Company utilizes the non-GAAP measure of core earnings which management believes is useful in evaluating operating trends, including components for core revenue and expense. These measures exclude amounts which the Company views as unrelated to its normalized operations. The Company also adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community. A reconciliation of non-GAAP financial measures to GAAP measures is included in the accompanying financial tables.

Forward-Looking Statements

This press release contains statements about future events that constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding the Company’s operational integration project. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward- looking terminology, such as “may,” “will,” “believe,” “expect,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in Bear State ’s filings with the SEC, general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of the Bank’s pricing, products and services, and with respect to the loans extended by the Bank and real estate owned, market prices of the property securing loans and the costs of collection and sales. Bear State wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Bear State does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

BEAR STATE FINANCIAL, INC.

SELECTED CONSOLIDATED FINANCIAL DATA - UNAUDITED

(In thousands, except share data)

BEAR STATE FINANCIAL, INC.

SELECTED CONSOLIDATED FINANCIAL DATA - UNAUDITED

(In thousands, except share data)

(1) Efficiency ratio is a non-GAAP ratio that is calculated by dividing core noninterest expense by the sum of net interest income and noninterest income. Other companies may define and calculate this data differently.

BEAR STATE FINANCIAL, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - UNAUDITED

DECEMBER 31, 2014 AND 2013

(In thousands, except share data)

BEAR STATE FINANCIAL, INC.

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

YEARS ENDED DECEMBER 31, 2014 AND 2013

(In thousands, except earnings per share and share data)

BEAR STATE FINANCIAL, INC.

AVERAGE CONSOLIDATED BALANCE SHEETS and NET INTEREST ANALYSIS - UNAUDITED

(In thousands)

14