Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 140

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 140
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 allowance for credit losses was 161% of nonperforming loans. Our annualized net charge-offs to average total loans ratio for the first six months of 2025 was 0.24%. Annualized net credit card charge-offs to average total credit card loans were 2.85% for the first six months of 2025, compared to 2.93% during the full year 2024, and 182 basis points better than the most recently published industry average charge-off ratio as reported by the Federal Reserve for all banks.

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Table 8 presents information concerning nonperforming assets, including nonaccrual loans at amortized cost and foreclosed assets held for sale. 

Table 8: Nonperforming Assets 

June 30,December 31,June 30,(Dollars in thousands)202520242024Nonaccrual loans (1)$156,453 $110,154 $102,891 Loans past due 90 days or more (principal or interest payments)709 603 558 Total nonperforming loans157,162 110,757 103,449 Other nonperforming assets:Foreclosed assets held for sale and other real estate owned8,794 9,270 2,209 Other nonperforming assets759 1,202 1,167 Total other nonperforming assets9,553 10,472 3,376 Total nonperforming assets$166,715 $121,229 $106,825 Allowance for credit losses to nonperforming loans161 %212 %223 %Nonperforming loans to total loans0.92 %0.65 %0.60 %Nonperforming assets to total assets0.62 %0.45 %0.39 %

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(1)Includes nonaccrual FDMs of approximately $27.9 million and $597,000 at June 30, 2025 and December 31, 2024, respectively.

The interest income on nonaccrual loans is not considered material for the three and six month periods ended June 30, 2025 and 2024. 

ALLOWANCE FOR CREDIT LOSSES

The allowance for credit losses is a reserve established through a provision for credit losses charged to expense which represents management’s best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations