Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 250

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 250
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 of updated economic forecasts. Our allowance for credit losses at March 31, 2025 was considered appropriate given the current economic environment and other related factors. 

The following table sets forth the sum of the amounts of the allowance for credit losses attributable to individual loans within each category, or loan categories in general. The table also reflects the percentage of loans in each category to the total loan portfolio for each of the periods indicated. The allowance for credit losses by loan category is determined by (i) our estimated reserve factors by category including applicable qualitative adjustments and (ii) any specific allowance allocations that are identified on individually evaluated loans. The amounts shown are not necessarily indicative of the actual future losses that may occur within individual categories.

Table 10: Allocation of Allowance for Credit Losses 

 March 31, 2025December 31, 2024(Dollars in thousands)AllowanceAmount% ofloans (1)AllowanceAmount% ofloans (1)Credit cards$6,117 1.1 %$6,007 1.1 %Other consumer6,059 4.7 %5,463 4.3 %Real estate200,079 78.8 %181,962 78.8 %Commercial39,913 15.4 %41,587 15.8 %Total$252,168 100.0 %$235,019 100.0 %Allowance for credit losses to period-end loans1.48 %1.38 %

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(1)Percentage of loans in each category to total loans.

DEPOSITS

Deposits are our primary source of funding for earning assets and are primarily developed through our network of 222 financial centers as of March 31, 2025. We offer a variety of products designed to attract and retain customers with a continuing focus on developing core deposits. Our core deposits consist of all deposits excluding time deposits of $250,000 or more and brokered deposits. As of March 31, 2025, core deposits comprised 79.5% of our total deposits.

We continually monitor the funding requirements along with competitive interest rates in the markets we serve. Because of our community banking philosophy, our executives in the local markets, with oversight by the Chief Deposit Officer, Asset Liability Committee and the Bank’s Treasury Department, establish the interest rates offered on both core and non-core deposits. This approach helps ensure that the interest rates being