Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 276

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 276
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 the amortized cost and estimated fair value of securities at September 30, 2025, by contractual maturity and the weighted average yields (for tax-exempt obligations on a fully taxable equivalent basis, assuming a 26.135% tax rate) of such securities and is presented due to the reclassification and sale of certain securities during the quarter. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties.

 September 30, 2025  OverOver       1 year5 years  Total 1 yearthroughthroughOverNo fixedAmortizedParFair(In thousands)or less5 years10 years10 yearsmaturityCostValueValueAvailable-for-SaleU.S. Government agencies$50$28,118$2,859$18,025$—$49,052$48,354 $48,355 Mortgage-backed securities————2,446,7112,446,7112,422,050 2,249,593 State and political subdivisions4,83512,74622,6031,005,507—1,045,6911,074,697 845,371 Other securities6,00463,761112,547—208182,520182,515 175,958 Total$10,889$104,625$138,009$1,023,532 $2,446,919 $3,723,974 $3,727,616 $3,319,277 Percentage of total0.3 %2.8 %3.7 %27.5 %65.7 %100.0 %Weighted average yield1.6 %5.1 %3.7 %2.8 %3.1 %3.1 %

During the third quarter of 2021, we began utilizing interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of $1.00 billion of fixed rate callable municipal securities held in the AFS portfolio. These swap agreements consist of a two year forward start date and involve the payment of fixed interest rates with a weighted average rate of 1.21% in exchange for variable interest rates based on federal funds rates, which became effective during late third quarter of 2023. Securities within these swap agreements have maturity dates varying between