Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 274

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 274
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,191 26 0.89,437 9,744 (307)(3.2)Marketing6,886 6,612 274 4.120,324 20,066 258 1.3Software and technology10,186 10,485 (299)(2.9)30,707 32,585 (1,878)(5.8)Operating supplies772 487 285 58.51,886 1,808 78 4.3Amortization of intangibles3,097 3,098 (1)—9,722 11,553 (1,831)(15.8)Branch right sizing2,004 163 1,841 *3,161 1,165 1,996 171.3Other 8,202 8,204 (2)—28,792 28,167 625 2.2Total noninterest expense$142,032 $138,589 $3,443 2.5%$425,201 $416,426 $8,775 2.1%

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*Not meaningful

63

INVESTMENTS AND SECURITIES

Our securities portfolio is the second largest component of earning assets and provides a significant source of revenue. Securities within the portfolio are classified as held-to-maturity (“HTM”), AFS or trading. Our philosophy regarding investments is conservative based on investment type and maturity. Investments in the portfolio primarily include U.S. Treasury securities, U.S. Government agencies, MBS and municipal securities. Our general policy is not to invest in derivative type investments or high-risk securities, except for collateralized MBS for which collection of principal and interest is not subordinated to significant superior rights held by others.

As of September 30, 2025, AFS investment securities and assets held in trading accounts were $3.32 billion and $12.7 million, respectively. As of December 31, 2024, AFS and HTM investment securities were $2.53 billion and $3.64 billion, respectively. We continue to look for opportunities to maximize the value of the investment portfolio.

During the third quarter of 2025, the Company and its subsidiaries initiated and completed steps taken to reposition the Company’s consolidated balance sheet and reclassified approximately $3.6 billion in HTM investment securities to AFS investment securities. Subsequently, the Company sold approximately $