Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 201

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 201
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  20298,563  Thereafter39,983  Total$93,714 

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NOTE 7: TIME DEPOSITS

 Time deposits included approximately $1.53 billion and $1.55 billion of certificates of deposit over $250,000 at March 31, 2025 and December 31, 2024, respectively. Brokered time deposits were $2.91 billion and $3.30 billion at March 31, 2025 and December 31, 2024, respectively.

NOTE 8: INCOME TAXES

 The provision for income taxes is comprised of the following components for the periods indicated below: Three Months EndedMarch 31,(In thousands)20252024Income taxes currently payable$6,899 $5,755 Deferred income taxes(1,087)379 Provision for income taxes$5,812 $6,134 The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: March 31,December 31,(In thousands)20252024Deferred tax assets:  Loans acquired$1,884 $2,141 Allowance for credit losses59,152 55,196 Valuation of foreclosed assets374 374 Tax NOLs from acquisition10,210 9,945 Deferred compensation payable3,978 3,989 Accrued equity and other compensation5,493 9,323 Acquired securities7,504 7,504 Right-of-use lease liability15,577 16,416 Unrealized loss on AFS securities125,565 128,873 Allowance for unfunded commitments6,069 6,069 Other7,154 7,163 Gross deferred tax assets242,960 246,993 Deferred tax liabilities:Goodwill and other intangible amortization(37,575)(38,139)Accumulated depreciation(24,529)(24,489)Right-of-use lease asset(15,058)(15,920)Unrealized gain on swaps(20,624)(25,174)Other(12,842)(13,268)Gross deferred tax liabilities(110,628)(116,990)Net deferred tax asset$132,332 $130,003 

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A reconciliation of