Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 239

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 239
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 5: Noninterest Income

Three Months EndedMarch 31,December 31,March 31,Change from Quarter - SequentialChange from Quarter - Year-over-Year(Dollars in thousands)202520242024Service charges on deposit accounts$12,635 $12,978 $11,955 $(343)(2.6)%$680 5.7%Debit and credit card fees8,446 8,323 8,246 123 1.5200 2.4Wealth management fees9,629 9,658 8,398 (29)(0.3)1,231 14.7Mortgage lending income2,013 1,828 2,320 185 10.1(307)(13.2)Bank owned life insurance income4,092 3,780 3,814 312 8.3278 7.3Other service charges and fees1,333 1,426 1,279 (93)(6.5)54 4.2Other income8,007 5,565 7,172 2,442 43.9835 11.6Total noninterest income$46,155 $43,558 $43,184 $2,597 6.0%$2,971 6.9%

Recurring fee income (total service charges, wealth management fees, debit and credit card fees) was $32.0 million, $32.4 million and $29.9 million for the three month periods ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

NONINTEREST EXPENSE

Noninterest expense consists of salaries and employee benefits, occupancy, equipment, foreclosure losses and other expenses necessary for our operations. Management remains committed to controlling the level of noninterest expense through the continued use of expense control measures. We utilize an extensive profit planning and reporting system involving all subsidiaries. Based on a needs assessment of the business plan for the upcoming year, monthly and annual profit plans are developed, including manpower and capital expenditure budgets. These profit plans are subject to extensive initial reviews and monitored by management monthly. Variances from the plan are reviewed monthly and, when required, management takes corrective action intended to ensure financial goals are met. We also regularly monitor staffing levels at each subsidiary to ensure productivity and overhead are in line with existing workload requirements.

Noninterest expense was