Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 26

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 26
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 preserve our net interest margin and earning assets, we are open to working with existing customers in order to maximize the collectability of the debt.

We have internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties (“FDMs”) may include interest rate reductions, principal or interest forgiveness and/or term extensions. We primarily use interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal. 

There were eleven loan modifications granted to borrowers experiencing financial difficulty during the nine month period ended September 30, 2025. Such modifications included interest rate reductions and/or term extensions and had a total period-end amortized cost basis of $849,000 at September 30, 2025.

The allowance for credit losses as a percent of total loans was 1.50% as of September 30, 2025. Nonperforming loans equaled 0.90% of total loans. Nonperforming assets were 0.66% of total assets, a 21 basis point increase from December 31, 2024. The allowance for credit losses was 168% of nonperforming loans. Our annualized net charge-offs to average total loans ratio for the first nine months of 2025 was 0.24%. Annualized net credit card charge-offs to average total credit card loans were 3.11% for the first nine months of 2025, compared to 2.93% during the full year 2024, and 120 basis points better than the most recently published industry average charge-off ratio as reported by the Federal Reserve for all banks.

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Table 9 presents information concerning nonperforming assets, including nonaccrual loans at amortized cost and foreclosed assets held for sale. 

Table 9: Nonperforming Assets 

September 30,December 31,September 30,(Dollars in thousands)202520242024Nonaccrual loans (1)$153,516 $110,154 $100,865 Loans past due 90 days or more (principal or interest payments)423 603 830 Total nonperforming loans153,939 110,757 101,695 Other nonperforming assets:Foreclosed assets held for sale and other real estate owned6,386 9,270 1,299 Other nonperforming assets392 1,202 1,311 Total other nonperforming assets6,778 10,472