Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 229

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 229
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 secured by real estate loans$2,728 $727,945 Other long-term debt16,104 17,427 Total other borrowings18,832 745,372 Subordinated Notes and DebenturesSubordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three-month SOFR rate, reset quarterly)330,000 330,000 Subordinated notes payable, due 10/1/2035, fixed-to-floating rate (fixed rate of 6.25% through 9/30/2030, floating rate of 3.02% above the three-month SOFR rate, reset quarterly)325,000 — Subordinated notes payable, net of premium adjustments, due 7/31/2030, fixed-to-floating rate (fixed rate of 6.00% through 7/30/2025, floating rate of 5.92% above the three-month SOFR rate, reset quarterly)— 37,057 Unamortized debt issuance costs(3,750)(764)Valuation adjustments on hedged subordinated notes payable(2,274)— Total subordinated notes and debentures648,976 366,293 Total other borrowings and subordinated debt$667,808 $1,111,665 In March 2018, the Company issued $330.0 million in aggregate principal amount, of 5.00% Fixed-to-Floating Rate Subordinated Notes (“2018 Notes”) at a public offering price equal to 100% of the aggregate principal amount of the 2018 Notes. The Company incurred $3.6 million in debt issuance costs related to the offering during March 2018. The 2018 Notes were to mature on April 1, 2028 and initially bore interest at a fixed rate of 5.00% per annum, payable semi-annually in arrears. From and including April 1, 2023 to, but excluding, the maturity date or the date of earlier redemption, the interest rate would reset quarterly to an annual interest rate equal to the “then-current three month LIBOR rate” plus 215 basis points, payable quarterly in arrears. The Company transitioned from the “then-current three month LIBOR rate” to the “three-month Secured Overnight Financing Rate