Company: SFNC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008639
Chunk: 98

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 98
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5 million increase related to bank owned life insurance due to a higher earnings credit rate as compared to the prior period, a $2.6 million increase related to wealth management fees due to market conditions and a $1.4 million increase in debit and credit card fees related to increased customer activity.

Table 5 shows noninterest income for the years ended December 31, 2024, 2023 and 2022, respectively, as well as changes in 2024 from 2023 and in 2023 from 2022.

Table 5: Noninterest Income 

 Years Ended December 31,2024Change from2023Change from(Dollars in thousands)20242023202220232022Service charges on deposit accounts$49,898 $50,530 $46,527 $(632)(1.3)%$4,003 8.6 %Debit and credit card fees32,875 31,472 31,203 1,403 4.5 269 0.9 Wealth management fees32,806 30,203 31,895 2,603 8.6 (1,692)(5.3)Mortgage lending income8,077 7,733 10,522 344 4.5 (2,789)(26.5)Bank owned life insurance income15,227 11,717 11,146 3,510 30.0 571 5.1 Other service charges and fees9,188 9,122 7,616 66 0.7 1,506 19.8 Gain (loss) on sale of securities, net(28,393)(20,609)(278)(7,784)37.8 (20,331)*Gain on insurance settlement— — 4,074 — — (4,074)*Other income27,493 35,398 27,361 (7,905)(22.3)8,037 29.4 Total noninterest income$147,171 $155,566 $170,066 $(8,395)(5.4)%$(14,500)(8.5)%

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*Not meaningful

44

Recurring fee income (total service charges, wealth management fees, debit and credit card fees) for 2024 was $124.8 million, an increase of