Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 2

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 2
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 2025.

Our net loss for the nine months ended September 30, 2025 was $475.6 million, or $(3.63) diluted earnings per share, compared to net income of $104.4 million, or $0.83 diluted earnings per share, for the nine months ended September 30, 2024. Included in the results were certain items related to our branch right sizing initiative, early retirement program costs, loss on sale of securities, a FDIC special assessment (for the nine months ended September 30, 2024), termination of vendor and software services (for the nine months ended September 30, 2024) and loss on extinguishment of debt (for the nine months ended September 30, 2025). Excluding these certain items and the tax effect, adjusted earnings for the nine months ended September 30, 2025 were $154.1 million, or $1.18 adjusted diluted earnings per share, compared to $128.3 million, or $1.02 adjusted diluted earnings per share, for the nine months ended September 30, 2024. 

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During the year, we increased the loss provision on two specific credit relationships that we have been watching for some time due to unfavorable events that occurred for both during the nine months ended September 30, 2025. Otherwise, we believe the asset quality in our portfolio remains sound and reflects our conservative credit culture, as well as our focus on maintaining disciplined pricing and conservative underwriting standards given the current economic environment. Total nonperforming loans as of September 30, 2025, December 31, 2024, and September 30, 2024 were $153.9 million, $110.8 million, and $101.7 million, respectively. Nonperforming assets as a percent of total assets were 0.66% at September 30, 2025, compared to 0.45% at December 31, 2024 and 0.38% at September 30, 2024.

As of September 30, 2025, stockholders’ equity was $3.35 billion, book value per share was $23.18 and tangible book value per share was $13.45. 

Total loans were $17.19 billion at September 30, 2025, compared to $17.01 billion at December 31, 2024. Our unfunded commitments were $3.95 billion and