Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 85

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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2024Beginning balance, April 1, 2024$35,191 $180,414 $5,768 $5,994 $227,367 Provision for credit loss expense15,147 (5,187)1,194 (55)11,099 Charge-offs(7,243)(123)(1,418)(550)(9,334)Recoveries455 72 221 509 1,257 Net (charge-offs) recoveries(6,788)(51)(1,197)(41)(8,077)Ending balance, June 30, 2024$43,550 $175,176 $5,765 $5,898 $230,389 Six Months Ended June 30, 2024Beginning balance, January 1, 2024$36,470 $177,177 $5,868 $5,716 $225,231 Provision for credit loss expense18,019 172 2,492 622 21,305 Charge-offs(11,836)(2,980)(3,064)(1,282)(19,162)Recoveries897 807 469 842 3,015 Net (charge-offs) recoveries(10,939)(2,173)(2,595)(440)(16,147)Ending balance, June 30, 2024$43,550 $175,176 $5,765 $5,898 $230,389 As of June 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 six months ended June 30, 2025 reflected an incremental provision expense of $15.6 million related to two specific credit relationships which migrated to nonperforming during the year, as well as the impact of loan growth and updated economic assumptions during the periods.Reserve for Unfunded Commitments In addition to the allowance for credit losses, the Company has established a reserve for unfunded commitments, classified in other liabilities. This reserve is maintained at a level management believes to be sufficient to absorb losses arising from unfunded loan commitments. The reserve for unfunded commitments was $25.6 million for both periods ended June 30, 2025 and December 31, 2024. The adequacy of the reserve for unf