Company: SFNC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023690
Chunk: 8

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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2 reflect an analysis of net interest income on a fully taxable equivalent basis for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively.

Table 1: Analysis of Net Interest Margin

(FTE = Fully Taxable Equivalent using an effective tax rate of 26.135%)

 Three Months EndedMarch 31,December 31, March 31,(In thousands)202520242024Interest income$307,837 $325,982 $322,649 FTE adjustment6,414 6,424 6,422 Interest income – FTE314,251 332,406 329,071 Interest expense144,415 161,040 170,743 Net interest income – FTE$169,836 $171,366 $158,328 Yield on earning assets – FTE5.47 %5.57 %5.53 %Cost of interest bearing liabilities3.17 %3.42 %3.64 %Net interest spread – FTE2.30 %2.15 %1.89 %Net interest margin – FTE2.95 %2.87 %2.66 %

Table 2: Changes in Fully Taxable Equivalent Net Interest Margin 

Three Months Ended(In thousands)March 31, 2025 compared to                       December 31, 2024March 31, 2025 compared to                    March 31, 2024Decrease due to change in earning assets$(5,663)$(5,427)Decrease due to change in earning asset yields(12,492)(9,393)Increase due to change in interest bearing liabilities3,760 4,907 Increase due to change in interest rates paid on interest bearing liabilities12,865 21,421 Increase (decrease) in net interest income$(1,530)$11,508 

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Table 3 shows, for each major category of earning assets and interest bearing liabilities, the average (computed on a daily basis) amount outstanding, the interest earned or expensed on such amount and the average rate earned or expensed for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively. The table also shows the average rate earned on all earning assets, the average rate expensed on all interest