Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 270

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 270
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) from sales of securities.

For the three month period ended September 30, 2025, we generated a noninterest loss of $756.2 million, a decrease of approximately $798.5 million, compared to noninterest income for the three month period ended June 30, 2025. The decrease for the three month period ended September 30, 2025 as compared to the preceding sequential quarter is primarily related to a pre-tax loss on the sale of securities of $801.5 million. During the period, we sold approximately $3.2 billion in amortized cost basis of low yielding investment securities, as part of a balance sheet repositioning to deleverage the balance sheet through the pay-down of higher rate, non-relationship wholesale and public fund deposits, as well as higher rate other borrowings primarily consisting of FHLB advances. During the three month period ended September 30, 2025, we also recognized a $570,000 loss on early extinguishment of debt. Adjusting for these certain items, adjusted noninterest income for the three month period ended September 30, 2025 increased $3.5 million, or 8.3%, from the prior sequential quarter. The increase in adjusted noninterest income on a sequential quarter basis was primarily due to a $1.4 million Small Business Investment Company (“SBIC”) negative valuation adjustment recorded during the prior sequential quarter, which is included in “Other income” in the table below. 

Noninterest income (loss) for the nine months ended September 30, 2025 decreased by approximately $771.3 million as compared to the nine months ended September 30, 2024. The decrease, as compared to the same period in 2024, was primarily due to losses on sale of securities of $801.5 million discussed above and $28.4 million, recognized during each respective period. Adjusting for these certain items, adjusted noninterest income for the nine month period ended September 30, 2025 increased $2.4 million, or 1.8%, from the prior comparative period.

Table 5 shows noninterest income for the three month periods ended September 30, 2025 and June 30, 2025 and the nine months ended September 30, 2025 and 2024, respectively, as well as changes between periods.

Table 5: Noninterest Income (Loss)

Three Months EndedNine Months EndedSeptember 30,June 30,