Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 139

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 139
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 $139.7 million, an increase of $2.9 million as compared to the three months ended June 30, 2025.

Noninterest expense for the nine months ended September 30, 2025 increased by approximately $8.8 million or 2.1% as compared to the nine months ended September 30, 2024. Adjusted noninterest expense, which excludes branch right sizing, early retirement program costs, FDIC special assessment (for the nine months ended September 30, 2024) and termination of vendor and software services (for the nine months ended September 30, 2024), increased $7.7 million, or 1.9%, as compared to the nine months ended September 30, 2024. 

Salaries and employee benefits expense increased $2.4 million during the three month period ended September 30, 2025 as compared to the preceding sequential quarter and increased $12.4 million during the nine month period ended September 30, 2025 when compared to the same period in the prior year. The increase as compared to the preceding sequential quarter is primarily due to salary and employee benefits accrual adjustments given the Company’s financial performance through the third quarter of 2025. The increase as compared to the same period in the prior year is primarily due to employee merit increases over the comparative periods, coupled with the previously mentioned performance accrual adjustments.

Deposit insurance expense for the three and nine months ended September 30, 2025 as compared to the three months ended June 30, 2025 and nine months ended September 30, 2024 increased by $258,000 and decreased by $2.9 million, respectively. While the variance in deposit insurance expense on a sequential quarter basis is relatively flat, the decrease on a year over year basis for the nine months ended September 30, 2025 is significantly attributable to the additional FDIC special assessments totaling $1.8 million during the nine months ended September 30, 2024, which were levied to support the Deposit Insurance Fund following the failure of certain banks in 2023.

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Table 6 below shows noninterest expense for the three month periods ended September 30, 2025 and June 30, 2025 and the nine months ended September 30, 2025 and 2024, respectively, as well as changes between periods.

Table 6: Noninterest Expense 

Three Months EndedNine Months EndedSeptember 30,