Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 70

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 sold approximately $251.5 million of AFS investment securities as part of a strategic decision to sell low yielding securities to pay off higher rate wholesale fundings consisting of Federal Home Loan Bank (“FHLB”) advances during the third quarter of 2024. The income tax expense/benefit related to security gains/losses was 21.946% and 26.135% of the gross amounts in 2025 and 2024, respectively.The Company has entered into various hedging transactions to mitigate the impact of changing interest rates on the fair value of AFS securities. See Note 22, Derivative Instruments, for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities.

NOTE 3: LOANS AND ALLOWANCE FOR CREDIT LOSSES

At September 30, 2025, the Company’s loan portfolio was $17.19 billion, compared to $17.01 billion at December 31, 2024. The various categories of loans are summarized as follows: September 30,December 31,(In thousands)20252024Consumer:  Credit cards$173,020 $181,675 Other consumer112,335 127,319 Total consumer285,355 308,994 Real Estate:Construction and development2,874,823 2,789,249 Single family residential2,617,849 2,689,946 Other commercial7,875,649 7,912,336 Total real estate13,368,321 13,391,531 Commercial:Commercial2,397,388 2,434,175 Agricultural353,181 261,154 Total commercial2,750,569 2,695,329 Other784,572 610,083 Total loans$17,188,817 $17,005,937 

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The above table presents total loans at amortized cost. The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $4.1 million and $7.2 million at September 30, 2025 and December 31, 2024, respectively, and (ii) deferred origination costs and fees of $8.1 million and $9.6 million at September 30, 2025 and December 31, 2024, respectively.Accrued