Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 64

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 certain of those previously classified as HTM). The sale of investment securities resulted in a realized, after-tax loss of $625.6 million (based on actual tax rate of 21.946%).During the quarters ended June 30, 2022 and September 30, 2021, the Company transferred, at fair value, $1.99 billion and $500.8 million, respectively, of securities from the AFS portfolio to the HTM portfolio. No gains or losses on these securities were recognized at the time of transfer. During the balance sheet repositioning that occurred during the third quarter of 2025, these securities were transferred out of the HTM portfolio to the AFS portfolio at fair value. The previous related remaining combined net unrealized losses in accumulated other comprehensive income (loss), which losses were $99.4 million, were either recognized as part of the securities transfer and subsequent sale of certain securities or will be amortized into income over the remaining life of the security.As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of September 30, 2025. The amortized cost, fair value and allowance for credit losses of investment securities that were classified as HTM as of December 31, 2024 are as follows: (In thousands)Amortized CostAllowance for Credit LossesNet Carrying AmountGross UnrealizedGainsGross Unrealized(Losses)Estimated FairValueDecember 31, 2024U.S. Government agencies$455,869 $— $455,869 $— $(95,961)$359,908 Mortgage-backed securities 1,070,032 — 1,070,032 212 (133,746)936,498 State and political subdivisions1,857,373 (196)1,857,177 20 (436,061)1,421,136 Other securities256,576 (3,018)253,558 — (21,149)232,409 Total HTM$3,639,850 $(3,214)$3,636,636 $232 $(686,917)$2,949,951 Mortgage-backed securities (“MBS”) are commercial MBS, secured by commercial properties, and residential MBS, generally secured by single-family residential properties. All mortgage-backed securities included in the table above were issued