Company: SFNC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037719
Chunk: 67

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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2025, the Company and its subsidiaries initiated and completed steps taken to reposition the Company’s consolidated balance sheet and reclassified approximately $3.6 billion in HTM investment securities to AFS investment securities. Subsequently, the Company sold approximately $3.2 billion in amortized cost basis of AFS securities (including certain of those previously classified as HTM). The sale of investment securities resulted in an estimated, realized after-tax loss of approximately $604.0 million (based on an estimated tax rate of 24.3%), which will be recorded during the third quarter of 2025. See Note 23, Subsequent Events, for additional information.

NOTE 3: LOANS AND ALLOWANCE FOR CREDIT LOSSES

At June 30, 2025, the Company’s loan portfolio was $17.11 billion, compared to $17.01 billion at December 31, 2024. The various categories of loans are summarized as follows: June 30,December 31,(In thousands)20252024Consumer:  Credit cards$176,166 $181,675 Other consumer123,831 127,319 Total consumer299,997 308,994 Real Estate:Construction and development2,784,578 2,789,249 Single family residential2,625,717 2,689,946 Other commercial7,961,412 7,912,336 Total real estate13,371,707 13,391,531 Commercial:Commercial2,440,507 2,434,175 Agricultural333,078 261,154 Total commercial2,773,585 2,695,329 Other665,807 610,083 Total loans$17,111,096 $17,005,937 The above table presents total loans at amortized cost. The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $4.8 million and $7.2 million at June 30, 2025 and December 31, 2024, respectively, and (ii) deferred origination costs and fees of $8.7 million and $9.6 million at June 30, 2025 and December 31, 2024, respectively.Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled