Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 285

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 285
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8.46 %8.29 %

See Table 16 below for the reconciliation of uninsured, non-collateralized deposits and the calculation of uninsured, non-collateralized deposit coverage ratio.

Table 16: Reconciliation of Uninsured, Non-Collateralized Deposits and the Calculation of Uninsured, Non-Collateralized Deposit Coverage Ratio (non-GAAP) 

June 30,December 31,(In thousands)20252024Uninsured deposits at Simmons Bank$8,407,847 $8,467,291 Less: Collateralized deposits (excluding portion that is FDIC insured)2,691,215 2,790,339 Less: Intercompany eliminations1,121,932 1,045,734 Total uninsured, non-collateralized deposits$4,594,700 $4,631,218 FHLB borrowing availability$5,133,000 $4,716,000 Unpledged securities3,697,000 4,103,000 Fed funds lines, Fed discount window and Bank Term Funding Program (1)1,894,000 2,081,000 Additional liquidity sources$10,724,000 $10,900,000 Uninsured, non-collateralized deposit coverage ratio2.3x2.4x

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(1)The Bank Term Funding Program closed for new loans on March 11, 2024. At no time did the Company borrow funds under this program.

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Item 3.    Quantitative and Qualitative Disclosures About Market Risk

The Company has leveraged its investment in Simmons Bank and depends upon the dividends paid to it, as the sole shareholder of Simmons Bank, as a principal source of funds for dividends to shareholders, stock repurchases and debt service requirements. At June 30, 2025, undivided profits of Simmons Bank were approximately $576.9 million, $78.2 million of which were available for the payment of dividends to the Company without regulatory approval. In addition to dividends, other sources of liquidity for the Company are the sale of equity securities and the borrowing of funds.

Subsidiary Bank

Generally speaking, Simmons Bank relies upon net inflows of cash from financing activities, supplemented by net inflows of cash from operating activities, to provide cash used in investing activities. Typical of most banking companies, significant financing activities include: deposit gathering; use of