Simmons First National Corp. Files 10-Q for Q1 2024

Ticker: SFNC · Form: 10-Q · Filed: 2024-05-07T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, Simmons First National Corp., Q1 2024, Financial Report, Banking

TL;DR

<b>Simmons First National Corp. has submitted its Q1 2024 10-Q filing, detailing financial performance and operational updates.</b>

AI Summary

SIMMONS FIRST NATIONAL CORP (SFNC) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Simmons First National Corp. filed its 10-Q report for the period ending March 31, 2024. The filing covers financial activities and business operations for the first quarter of 2024. Key financial data and disclosures are provided for the reporting period. The company is classified under National Commercial Banks (SIC 6021). The report includes details on various financial instruments and accounts.

Why It Matters

For investors and stakeholders tracking SIMMONS FIRST NATIONAL CORP, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Simmons First National Corp., crucial for assessing its current health and future prospects. Understanding the details within this filing allows stakeholders to evaluate the company's performance against previous periods and industry benchmarks.

Risk Assessment

Risk Level: low — SIMMONS FIRST NATIONAL CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Monitor Simmons First National Corp.'s upcoming earnings calls and subsequent filings for trends in deposit growth, loan performance, and net interest margin.

Key Numbers

Key Players & Entities

FAQ

When did SIMMONS FIRST NATIONAL CORP file this 10-Q?

SIMMONS FIRST NATIONAL CORP filed this Quarterly Report (10-Q) with the SEC on May 7, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by SIMMONS FIRST NATIONAL CORP (SFNC).

Where can I read the original 10-Q filing from SIMMONS FIRST NATIONAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by SIMMONS FIRST NATIONAL CORP.

What are the key takeaways from SIMMONS FIRST NATIONAL CORP's 10-Q?

SIMMONS FIRST NATIONAL CORP filed this 10-Q on May 7, 2024. Key takeaways: Simmons First National Corp. filed its 10-Q report for the period ending March 31, 2024.. The filing covers financial activities and business operations for the first quarter of 2024.. Key financial data and disclosures are provided for the reporting period..

Is SIMMONS FIRST NATIONAL CORP a risky investment based on this filing?

Based on this 10-Q, SIMMONS FIRST NATIONAL CORP presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

What should investors do after reading SIMMONS FIRST NATIONAL CORP's 10-Q?

Monitor Simmons First National Corp.'s upcoming earnings calls and subsequent filings for trends in deposit growth, loan performance, and net interest margin. The overall sentiment from this filing is neutral.

Key Dates

Glossary

10-Q
A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)
SIC
Standard Industrial Classification code used to classify businesses by industry. (Helps categorize Simmons First National Corp. within the National Commercial Banks sector.)

Filing Stats: 4,434 words · 18 min read · ~15 pages · Grade level 18.5 · Accepted 2024-05-07 15:39:38

Key Financial Figures

Filing Documents

Financial Statements (Unaudited)

Financial Statements (Unaudited) Consolidated Balance Sheets 3 Consolidated Statements of Income 4 Consolidated Statements of Comprehensive Income (Loss) 5 Consolidated Statements of Cash Flows 6 Consolidated Statements of Stockholders' Equity 7 Condensed Notes to Consolidated Financial Statements 8 Report of Independent Registered Public Accounting Firm 47 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 48 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 71 Item 4.

Controls and Procedures

Controls and Procedures 73 Part II: Other Information Item 1.

Legal Proceedings

Legal Proceedings 73 Item 1A.

Risk Factors

Risk Factors 73 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73

Defaults Upon Senior Securities *

Item 3. Defaults Upon Senior Securities *

Mine Safety Disclosures *

Item 4. Mine Safety Disclosures * Item 5. Other Information 74 Item 6. Exhibits 74

Signatures

Signatures 76 ___________________ * No reportable information under this item.

: Financial Information

Part I: Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Simmons First National Corporation Consolidated Balance Sheets March 31, 2024 and December 31, 2023 March 31, December 31, (In thousands, except share data) 2024 2023 (Unaudited) ASSETS Cash and noninterest bearing balances due from banks $ 380,324 $ 345,258 Interest bearing balances due from banks and federal funds sold 222,979 268,834 Cash and cash equivalents 603,303 614,092 Interest bearing balances due from banks - time 100 100 Investment securities: Held-to-maturity, net of allowance for credit losses of $ 3,214 at March 31, 2024 and December 31, 2023 3,707,258 3,726,288 Available-for-sale, (amortized cost of $ 3,394,971 and $ 3,509,709 at March 31, 2024 and December 31, 2023, respectively) 3,027,558 3,152,153 Total investments 6,734,816 6,878,441 Mortgage loans held for sale 11,899 9,373 Loans 17,001,760 16,845,670 Allowance for credit losses on loans ( 227,367 ) ( 225,231 ) Net loans 16,774,393 16,620,439 Premises and equipment 576,466 570,678 Foreclosed assets and other real estate owned 3,511 4,073 Interest receivable 122,781 122,430 Bank owned life insurance 503,348 500,559 Goodwill 1,320,799 1,320,799 Other intangible assets 108,795 112,645 Other assets 611,964 592,045 Total assets $ 27,372,175 $ 27,345,674 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest bearing transaction accounts $ 4,697,539 $ 4,800,880 Interest bearing transaction accounts and savings deposits 11,071,762 10,997,425 Time deposits 6,583,703 6,446,673 Total deposits 22,353,004 22,244,978 Federal funds purchased and securities sold under agreements to repurchase 58,760 67,969 Other borrowings 871,874 972,366 Subordinated notes and debentures 366,179 366,141 Accrued interest and other liabilities 283,232 267,732 Total liabilities 23,933,049 23,919,186 Stockholders' equity: Common stock, Class A, $ 0.01 par value; 350,000,000 shares authorized at March 31, 2024 and December 31, 2023; 125,419,6

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