Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 138

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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64,128 4,227 (99)(2.3)Loss on sale of securities, net(801,492)— (801,492)*(801,492)(28,393)(773,099)*Other income6,141 4,837 1,304 27.018,985 21,928 (2,943)(13.4)Total noninterest income (loss)$(756,187)$42,354 $(798,541)*$(667,678)$103,613 $(771,291)*

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*Not meaningful

Recurring fee income (total service charges, wealth management fees, debit and credit card fees) was $33.0 million and $31.9 million for the three month periods ended September 30, 2025 and June 30, 2025, respectively, and was $96.9 million and $92.4 million for the nine month periods ended September 30, 2025 and 2024, respectively. The increase over both comparative periods is primarily related to the increases in wealth management fees due to fee growth and market performance and in service charges on deposit accounts due to growth in consumer accounts and performance related to commercial treasury management. 

61

NONINTEREST EXPENSE

Noninterest expense consists of salaries and employee benefits, occupancy, equipment, foreclosure losses and other expenses necessary for our operations. Management remains committed to controlling the level of noninterest expense through the continued use of expense control measures. We utilize an extensive profit planning and reporting system involving all subsidiaries. Based on a needs assessment of the business plan for the upcoming year, monthly and annual profit plans are developed, including manpower and capital expenditure budgets. These profit plans are subject to extensive initial reviews and monitored by management monthly. Variances from the plan are reviewed monthly and, when required, management takes corrective action intended to ensure financial goals are met. We also regularly monitor staffing levels at each subsidiary to ensure productivity and overhead are in line with existing workload requirements.

Noninterest expense was $142.0 million for the three month period ended September 30, 2025, as compared to noninterest expense of $138.6 million for the three month period ended June 30, 2025, representing an increase of $3.4 million, or 2.5%, as compared to the preceding quarter. Adjusted noninterest expense, which excludes branch right sizing and early retirement program costs, for the three months ended September 30, 2025 was