Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 88

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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820 $208,267 $5,981 $6,938 $258,006 Activity in the allowance for credit losses for the three and nine months ended September 30, 2024 was as follows:(In thousands)CommercialRealEstateCreditCardOtherConsumerand OtherTotalAllowance for credit losses:Three Months Ended September 30, 2024Beginning balance, July 1, 2024$43,550 $175,176 $5,765 $5,898 $230,389 Provision for credit loss expense8,088 1,598 1,755 707 12,148 Charge-offs(8,235)(159)(1,744)(524)(10,662)Recoveries439 403 231 275 1,348 Net (charge-offs) recoveries(7,796)244 (1,513)(249)(9,314)Ending balance, September 30, 2024$43,842 $177,018 $6,007 $6,356 $233,223 Nine Months Ended September 30, 2024Beginning balance, January 1, 2024$36,470 $177,177 $5,868 $5,716 $225,231 Provision for credit loss expense26,107 1,770 4,247 1,329 33,453 Charge-offs(20,071)(3,139)(4,808)(1,806)(29,824)Recoveries1,336 1,210 700 1,117 4,363 Net (charge-offs) recoveries(18,735)(1,929)(4,108)(689)(25,461)Ending balance, September 30, 2024$43,842 $177,018 $6,007 $6,356 $233,223 As of September 30, 2025, the Company’s allowance for credit losses was considered sufficient based upon expected losses that were supported by scenario-weighted economic forecasts. The provision expense for the three and nine months ended September 30, 2025 reflected the impact of loan growth and updated economic assumptions during the periods, while the nine month period ended September 30, 2025 also included an incremental provision expense of $15.6 million related to two specific credit relationships which migrated to nonperforming during the year