Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 30

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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 for each particular deposit product and structured to meet the funding requirements. We believe we are paying a competitive rate when compared with pricing in those markets.

We manage our interest expense through deposit pricing. We believe that additional funds can be attracted and deposit growth can be accelerated through deposit pricing if we experience increased loan demand or other liquidity needs. We can also utilize brokered deposits as an additional source of funding to meet liquidity needs. We are continually monitoring and looking for opportunities to fairly reprice our deposits while remaining competitive in this current challenging rate environment.

Our total deposits as of September 30, 2025, were $19.84 billion, compared to $21.89 billion as of December 31, 2024. Noninterest bearing transaction accounts, interest bearing transaction accounts and savings accounts totaled $15.31 billion at September 30, 2025, compared to $15.44 billion at December 31, 2024, a decrease of $132.4 million. Total time deposits decreased $1.92 billion to $4.53 billion at September 30, 2025, from $6.44 billion at December 31, 2024. We had $1.84 billion and $3.30 billion of brokered deposits at September 30, 2025, and December 31, 2024, respectively. The decrease in time deposits and brokered deposits over the comparative period is largely due to the balance sheet repositioning during the third quarter of 2025, including the pay-down of higher rate, non-relationship wholesale and public fund deposits. We are continuing to refine our product offerings to give customers flexibility of choice while maintaining the ability to adjust interest rates timely in the current rate environment.

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Table 12 reflects the classification of the average deposits and the average rate paid on each deposit category which is in excess of 10 percent of average total deposits for the nine months ended September 30, 2025 and the year ended December 31, 2024.

Table 12: Average Deposit Balances and Rates

 September 30, 2025December 31, 2024(In thousands)Average AmountAverage Rate PaidAverage AmountAverage Rate PaidNoninterest bearing transaction accounts$4,367,882 — %$4,576,022 — %Interest bearing transaction and savings deposits11,146,423 2.45 %10,974,529 2.81 %Time deposits5,695,173 3.