Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 65

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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,581 2,434,175 74 Agricultural393 104 497 260,657 261,154 — Total commercial3,928 27,163 31,091 2,664,238 2,695,329 74 Other276 3 279 609,804 610,083 — Total$48,196 $81,698 $129,894 $16,876,043 $17,005,937 $603  

18

Loan Modifications to Borrowers Experiencing Financial DifficultyThe Company has internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties may include interest rate reductions, principal or interest forgiveness and/or term extensions. The Company primarily uses interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal. The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three month period ended March 31, 2025.Percent ofInterest RateTotal Class(Dollars in thousands)Reductionof LoansThree Months Ended March 31, 2025Real estate:Single family residential$451 0.02 %Total real estate$451 The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2025. Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during those periods.There were no loan modifications granted to borrowers experiencing financial difficulty during the three month period ended March 31, 2024.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 $26.9 million that was modified during the previous twelve months and which subsequently defaulted during the three months ended March 31, 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 during the previous twelve months and which subsequently defaulted during the three months ended March 31, 2024. In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received