Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 241

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 241
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4 and three months ended March 31, 2024 decreased by $159,000 and $1.7 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 three months ended March 31, 2025 is significantly attributable to the additional FDIC special assessments totaling $1.5 million during the three months ended March 31, 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 March 31, 2025, December 31, 2024 and March 31, 2024, respectively, as well as changes between periods.

Table 6: Noninterest Expense 

Three Months EndedMarch 31,December 31,March 31,Change from Quarter - SequentialChange from Quarter - Year-over-Year(Dollars in thousands)202520242024Salaries and employee benefits$74,824 $71,588 $72,653 $3,236 4.5%$2,171 3.0%Occupancy expense, net12,651 11,876 12,258 775 6.5393 3.2Furniture and equipment expense5,465 5,671 5,141 (206)(3.6)324 6.3Other real estate and foreclosure expense198 317 179 (119)(37.5)19 10.6Deposit insurance5,391 5,550 7,135 (159)(2.9)(1,744)(24.4)Other operating expenses:Professional services4,867 6,229 4,067 (1,362)(21.9)800 19.7Postage2,280 2,228 2,037 52 2.3243 11.9Telephone1,479 1,528 1,720 (49)(3.2)(241)(14.0)Debit and credit card3,029 3,142 3,328 (113)(3.6)(299)(9.0)Marketing6,826 7,303 6,648 (477)(6.5)178 2.7Software and technology10,036 10,354 10,743 (318)(3.1