Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 8

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 8
---
 ended June 30, 2024. The increase on a linked quarter basis was primarily due to fixed-rate asset repricing, coupled with decreased deposit costs from lower rates on time deposits and a favorable funding mix shift. The increase when compared to the same period in the prior year was driven by the decrease in deposits costs and aided by the strategic sale of lower-yielding AFS investment securities during the third quarter of 2024, as well as the reduced rate and use of wholesale funding.

Net Interest Income Tables

Tables 1 and 2 reflect an analysis of net interest income on a fully taxable equivalent basis for the three months ended June 30, 2025 and March 31, 2025 and the six months ended June 30, 2025 and 2024, respectively.

Table 1: Analysis of Net Interest Margin

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

 Three Months EndedSix Months EndedJune 30,March 31,June 30,June 30,(In thousands)2025202520252024Interest income$315,023 $307,837 $622,860 $651,794 FTE adjustment6,422 6,414 12,836 12,998 Interest income – FTE321,445 314,251 635,696 664,792 Interest expense143,199 144,415 287,614 345,983 Net interest income – FTE$178,246 $169,836 $348,082 $318,809 Yield on earning assets – FTE5.53 %5.47 %5.50 %5.58 %Cost of interest bearing liabilities3.12 %3.17 %3.15 %3.68 %Net interest spread – FTE2.41 %2.30 %2.35 %1.90 %Net interest margin – FTE3.06 %2.95 %3.01 %2.68 %

Table 2: Changes in Fully Taxable Equivalent Net Interest Margin 

Three Months EndedSix Months Ended(In thousands)June 30, 2025 compared to                       March 31, 2025June 30, 2025 compared to                    June 30, 2024Increase (decrease) due to change in earning assets$919 $(11,527)Increase