Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 261

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 261
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 million during the six month period ended June 30, 2025 when compared to the same period in the prior year. The decrease as compared to the preceding sequential quarter is primarily due to higher payroll taxes typically incurred during the first quarter, which was partially offset by early retirement program costs of $1.6 million recorded during the period. The increase as compared to the same period in the prior year is primarily due to employee merit increases over the comparative periods.

Deposit insurance expense for the three and six months ended June 30, 2025 as compared to the three months ended March 31, 2025 and six months ended June 30, 2024 decreased by $474,000 and $2.5 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 six months ended June 30, 2025 is significantly attributable to the additional FDIC special assessments totaling $1.8 million during the six months ended June 30, 2024, which were levied to support the Deposit Insurance Fund following the failure of certain banks in 2023.

Table 6 below shows noninterest expense 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 6: Noninterest Expense 

Three Months EndedSix Months EndedJune 30,March 31,ChangeJune 30,June 30,Change(Dollars in thousands)20252025$%20252024$%Salaries and employee benefits$73,862 $74,824 $(962)(1.3)%$148,686 $143,369 $5,317 3.7%Occupancy expense, net11,844 12,651 (807)(6.4)24,495 24,122 373 1.5Furniture and equipment expense5,474 5,465 9 0.210,939 10,764 175 1.6Other real estate and foreclosure expense216 198 18 9.1414 296 118 39.9Deposit insurance4,917 5,391 (474)(8.8)10,308 12,817 (2,509)(19.6)Other operating expenses:Professional services6,192