Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 193

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 193
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 1, 2024$2,006 $1,208 $3,214 Provision for credit loss expense— — — Net (decrease) increase in allowance on previously impaired securities(1,815)1,815 — Ending balance, June 30, 2024$191 $3,023 $3,214 Based upon the Company’s analysis of the underlying risk characteristics of its HTM and AFS portfolios, including credit ratings and other qualitative factors, as previously discussed, there was no provision for credit losses related to the Company’s securities portfolios recorded for the three and six month periods ended June 30, 2025 or 2024.

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The following table summarizes bond ratings for the Company’s HTM portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of June 30, 2025:State and Political Subdivisions(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther SecuritiesAaa/AAA$182,733 $293,544 $— $476,277 $— Aa/AA626,037 534,785 — 1,160,822 — A38,175 160,776 — 198,951 103,765 Baa/BBB— 4,391 — 4,391 153,623 Not Rated15,375 — — 15,375 — Total$862,320 $993,496 $— $1,855,816 $257,388 Historical loss rates associated with securities having similar grades as those in the Company’s portfolio have generally not been significant. Pre-refunded securities, if any, have been defeased by the issuer and are fully secured by cash and/or U.S. Treasury securities held in escrow for payment to holders when the underlying call dates of the securities are reached. Securities with other credit enhancement or insurance continue to make timely principal and interest payments under the contractual terms of the securities. Accordingly, no allowance for credit losses has been recorded for these securities as there is no current expectation of credit losses related to these securities.Income earned on securities for the three and six months ended June 30, 2025 and 2024, is as follows:Three Months EndedJune 30,Six Months EndedJune 30,(In thousands)202520242025