Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 258

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 258
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 ended June 30, 2025, our provision for credit losses was $38.7 million as compared to $21.3 million for the same period ended June 30, 2024. The provision expense for the six months ended June 30, 2025 reflected a provision expense of $15.6 million related to two specific credit relationships previously discussed, as well as the impact of updated economic assumptions reflecting increased uncertainty. Provision expense for the same period ended June 30, 2024 reflected loan growth in the quarter, as well as the impact of updated economic assumptions.

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NONINTEREST INCOME

Noninterest income is principally derived from recurring fee income, which includes service charges, wealth management fees and debit and credit card fees. Noninterest income also includes income on the sale of mortgage loans, income from the increase in cash surrender values of bank owned life insurance and gains (losses) from sales of securities.

For the three month period ended June 30, 2025, total noninterest income was $42.4 million, a decrease of approximately $3.8 million or 8.2%, compared to the three month period ended March 31, 2025. The decrease for the three month period ended June 30, 2025 as compared to the preceding sequential quarter is primarily related to a $1.4 million Small Business Investment Company (“SBIC”) valuation adjustment recorded during the period, coupled with lower swap fee income due to a large swap transaction and associated fees recorded in the prior comparative period, all of which are included in “Other income” in the table below. 

Noninterest income for the six months ended June 30, 2025 increased by approximately $2.0 million or 2.3% as compared to the six months ended June 30, 2024. While the individual line items were all relatively flat as compared to the same period in 2024, the increase was primarily due to a $1.5 million increase in wealth management fees related to strong performance and more favorable market conditions during the six months ended June 30, 2025.

Table 5 shows noninterest income for the three month periods ended June 30, 2025 and March 31, 2025 and the six months ended June 30, 2025 and 2024, respectively, as well as changes between periods.

Table 5: Noninterest Income

Three Months EndedSix Months EndedJune 30,March 31,