Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 279

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 279
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 related to the increase in agricultural loans of $92.0 million, or 35.2%, primarily due to seasonality of the portfolio, which normally peaks in the third quarter.

Other loans mainly consist of mortgage warehouse lending and municipal loans. Mortgage volume experienced an increase in demand during the first nine months of 2025 as compared to December 31, 2024, leading to an increase of $174.5 million in other loans.

Our commercial loan pipeline consisting of all commercial loan opportunities was $1.61 billion at September 30, 2025 compared to $1.26 billion at December 31, 2024. Commercial loans approved and ready to close at the end of the quarter totaled $489.9 million.

Our commercial loan pipeline consisting of all commercial loan opportunities was $2.21 billion at October 31, 2025, while commercial loans approved and ready to close at the end of October 2025 totaled $785.7 million with a weighted average rate (not including fees) of 7.00%. 

66

ASSET QUALITY

Nonperforming loans are comprised of (a) nonaccrual loans, (b) loans that are contractually past due 90 days and (c) other loans for which terms have been restructured to provide a reduction or deferral of interest or principal, because of deterioration in the financial position of the borrower. Simmons Bank recognizes income principally on the accrual basis of accounting. When loans are classified as nonaccrual, generally, the accrued interest is charged off and no further interest is accrued. Loans, excluding credit card loans, are placed on a nonaccrual basis either: (1) when there are serious doubts regarding the collectability of principal or interest, or (2) when payment of interest or principal is 90 days or more past due and either (i) not fully secured or (ii) not in the process of collection. If a loan is determined by management to be uncollectible, the portion of the loan determined to be uncollectible is then charged to the allowance for credit losses.

When credit card loans reach 90 days past due and there are attachable assets, the accounts are considered for litigation. Credit card loans are generally charged off when payment of interest or principal exceeds 150 days past due. The credit card recovery group pursues account holders until it is determined, on a case-by-case basis, to be uncollectible.

Total nonperforming assets increased $