Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 93

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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,141 Deposit insurance5,391 — 5,391 7,135 — 7,135 Other operating expenses (1)44,919 1,330 46,249 41,025 1,667 42,692 Total noninterest expense137,973 6,607 144,580 133,350 6,529 139,879 Income before provision for credit losses and income taxes61,258 3,739 64,997 52,770 2,441 55,211 Provision for credit losses26,797 — 26,797 10,206 — 10,206 Income tax expense5,802 10 5,812 6,105 29 6,134 Net income$28,659 $3,729 $32,388 $36,459 $2,412 $38,871 (In thousands)Community and Commercial BankingOtherConsolidatedAssets as of:March 31, 2025$26,785,600 $7,391 $26,792,991 March 31, 2024$27,365,379 $6,796 $27,372,175  _________________________(1)    Other operating expenses primarily include professional services, marketing, software and technology, amortization of intangibles and other general operating expenses.

NOTE 19: CERTAIN TRANSACTIONS

 From time to time, the Company and its subsidiaries have made loans, other extensions of credit, and vendor contracts to directors, officers, their associates and members of their immediate families. Additionally, some directors, officers and their associates and members of their immediate families have placed deposits with the Company’s subsidiary bank, Simmons Bank. Such loans and other extensions of credit, deposits and vendor contracts (which were not material) were made in the ordinary course of business, on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with unrelated persons or through a competitive bid process. Further, in management’s opinion, these extensions of credit did not involve more than normal risk of collectability or present other unfavorable features.

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NOTE 20: COMMITMENTS AND CREDIT RISK

 The Company grants agribusiness, commercial and residential loans to customers primarily throughout Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas, along with credit card loans to customers throughout the United States. Commit