Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 97

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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 were measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024.   Fair Value Measurements Using(In thousands)Fair ValueQuoted Prices inActive Markets forIdentical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservable Inputs(Level 3)March 31, 2025    Available-for-sale securities    U.S. Treasury$699 $699 $— $— U.S. Government agencies52,318 — 52,318 — Mortgage-backed securities1,380,913 — 1,380,913 — State and political subdivisions832,898 — 832,898 — Other securities225,021 — 225,021 — Mortgage loans held for sale8,351 — — 8,351 Derivative asset109,290 — 109,290 — Derivative liability(24,599)— (24,599)— December 31, 2024Available-for-sale securitiesU.S. Treasury$996 $996 $— $— U.S. Government agencies54,547 — 54,547 — Mortgage-backed securities1,392,759 — 1,392,759 — States and political subdivisions858,182 — 858,182 — Other securities222,942 — 222,942 — Mortgage loans held for sale11,417 — — 11,417 Derivative asset127,474 — 127,474 — Derivative liability(24,032)— (24,032)— Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Assets and liabilities measured at fair value on a nonrecurring basis include the following:Individually assessed loans (collateral-dependent) – When the Company has a specific expectation to initiate, or has initiated, foreclosure proceedings, and when the repayment of a loan is expected to be substantially dependent on the liquidation of underlying collateral, the relationship is deemed collateral-dependent. Fair value of the loan is determined by establishing an allowance for credit loss for any exposure based on the valuation of the underlying collateral. The valuation of the collateral is determined by either