Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 178

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 178
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State and Political SubdivisionsOtherSecuritiesTotalThree Months Ended March 31, 2025Held-to-maturityBeginning balance, January 1, 2025$196 $3,018 $3,214 Provision for credit loss expense— — — Net (decrease) increase in allowance on previously impaired securities(25)25 — Ending balance, March 31, 2025$171 $3,043 $3,214 Activity in the allowance for credit losses by investment security type for the three months ended March 31, 2024 on the Company’s HTM securities portfolio was as follows:(In thousands)State and Political SubdivisionsOtherSecuritiesTotalThree Months Ended March 31, 2024Held-to-maturityBeginning balance, January 1, 2024$2,006 $1,208 $3,214 Provision for credit loss expense— — — Net increase (decrease) in allowance on previously impaired securities246 (246)— Ending balance, March 31, 2024$2,252 $962 $3,214 Based upon the Company’s analysis of the underlying risk characteristics of its HTM and AFS portfolios, including credit ratings and other qualitative factors, as previously discussed, there was no provision for credit losses related to the Company’s securities portfolios recorded for the three month periods ended March 31, 2025 or 2024.The following table summarizes bond ratings for the Company’s HTM portfolio, based upon amortized cost, issued by state and political subdivisions and other securities as of March 31, 2025:State and Political Subdivisions(In thousands)Not Guaranteed or Pre-RefundedOther Credit Enhancement or InsurancePre-RefundedTotalOther SecuritiesAaa/AAA$182,720 $300,211 $— $482,931 $— Aa/AA627,418 527,544 — 1,154,962 — A38,657 160,694 — 199,351 103,536 Baa/BBB— 4,388 — 4,388 153,443 Not Rated15,444 — — 15,444 — Total$864,239 $992,837 $— $1,857,076 $256,979 Historical loss rates associated with securities having similar