Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 209

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 209
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 difficulty, segregated by class of loans and type of loan modification, for the three and nine month periods ended September 30, 2024.Percent ofInterest RateTotal Class(Dollars in thousands)Reductionof LoansThree Months Ended September 30, 2024Real estate:Single family residential$142 0.01 %Total real estate$142 Nine Months Ended September 30, 2024Real estate:Single family residential$795 0.03 %Total real estate$795 

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The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty. There was one CRE loan, related to a downtown St. Louis hotel that was originated pre-pandemic, to a borrower experiencing financial difficulty with a period-end amortized cost basis of $26.7 million that was modified during the previous twelve months and which subsequently defaulted during the nine months ended September 30, 2025. This CRE loan was placed on nonaccrual status during the period. There was one commercial loan to a borrower experiencing financial difficulty with a period-end amortized cost basis of $23,000 that was modified and subsequently defaulted during the twelve month period ended September 30, 2024. In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received more than 90 days after its due date.At September 30, 2025 and December 31, 2024, the Company had $3.4 million and $4.0 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At September 30, 2025 and December 31, 2024, the Company had $4.2 million and $1.3 million, respectively, of Other Real Estate Owned (“OREO”) secured by residential real estate properties.Credit Quality Indicators – As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) nonperforming loans (see details above) and (v) the general economic conditions of the Company’s local markets.The Company utilizes a risk rating matrix to assign a risk rate to each of its commercial and real estate loans. Risk ratings are updated on an ongoing basis and are subject