Company: SFNC
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050112
Chunk: 203

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 203
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 ten years138,009 130,883 After ten years1,023,532 823,546 Securities not due on a single maturity date2,446,711 2,249,593 Other securities (no maturity)208 208 Total$3,723,974 $3,319,277  The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $2.05 billion at September 30, 2025 and $2.36 billion at December 31, 2024. There were no gross realized gains and $801.5 million gross realized losses from the sale of securities during the three and nine months ended September 30, 2025 related to the balance sheet repositioning during the period. There were no gross realized gains and $28.4 million gross realized losses from the sale of securities during the three and nine months ended September 30, 2024, as the Company sold approximately $251.5 million of AFS investment securities as part of a strategic decision to sell low yielding securities to pay off higher rate wholesale fundings consisting of Federal Home Loan Bank (“FHLB”) advances during the third quarter of 2024. The income tax expense/benefit related to security gains/losses was 21.946% and 26.135% of the gross amounts in 2025 and 2024, respectively.The Company has entered into various hedging transactions to mitigate the impact of changing interest rates on the fair value of AFS securities. See Note 22, Derivative Instruments, for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities.

NOTE 3: LOANS AND ALLOWANCE FOR CREDIT LOSSES

At September 30, 2025, the Company’s loan portfolio was $17.19 billion, compared to $17.01 billion at December 31, 2024. The various categories of loans are summarized as follows: September 30,December 31,(In thousands)20252024Consumer:  Credit cards$173,020 $181,675 Other consumer112,335 127,319 Total consumer285,355 308,994 Real Estate:Construction and development2,874,823 2,789,249 Single family residential2,617,849 2,689,946