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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to _____

Commission File Number 000-06253

SIMMONS FIRST NATIONAL CORPORATION

(Exact name of registrant as specified in its charter)


Arkansas			71-0407808
(State or other jurisdiction of			(I.R.S. Employer
incorporation or organization)			Identification No.)

501 Main Street			71601
Pine Bluff			(Zip Code)
Arkansas
(Address of principal executive offices)

(870) 541-1000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

SFNC

The Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging Growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act.). ☐ Yes ☒ No

The number of shares outstanding of the Registrant’s Common Stock as of November 3, 2025, was 144,717,601.

Simmons First National Corporation

Quarterly Report on Form 10-Q

September 30, 2025

Table of Contents


		Page
Part I:	Financial Information
Item 1.	Financial Statements (Unaudited)
	Consolidated Balance Sheets	3
	Consolidated Statements of Income (Loss)	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	9
	Report of Independent Registered Public Accounting Firm	51
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	52
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	80
Item 4.	Controls and Procedures	82

Part II:	Other Information
Item 1.	Legal Proceedings	82
Item 1A.	Risk Factors	82
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	83
Item 3.	Defaults Upon Senior Securities	*
Item 4.	Mine Safety Disclosures	*
Item 5.	Other Information	83
Item 6.	Exhibits	84

Signatures		85

___________________

* No reportable information under this item.

Part I: Financial Information

Item 1. Financial Statements (Unaudited)

Simmons First National Corporation

Consolidated Balance Sheets

September 30, 2025 and December 31, 2024


	September 30,		December 31,
(In thousands, except share data)	2025		2024
	(Unaudited)
ASSETS
Cash and noninterest bearing balances due from banks	$	377,604	$	429,705
Interest bearing balances due from banks and federal funds sold	266,013		257,672
Cash and cash equivalents	643,617		687,377
Interest bearing balances due from banks - time	100		100
Investment securities:
Held-to-maturity, net of allowance for credit losses of $3,214 at December 31, 2024	—		3,636,636
Available-for-sale, (amortized cost of $3,723,974 and $2,852,774 at September 30, 2025 and December 31, 2024, respectively)	3,319,277		2,529,426
Total investments	3,319,277		6,166,062
Mortgage loans held for sale	15,507		11,417
Assets held in trading accounts	12,695		—
Loans	17,188,817		17,005,937
Allowance for credit losses on loans	(258,006)		(235,019)
Net loans	16,930,811		16,770,918
Premises and equipment	568,343		585,431
Foreclosed assets and other real estate owned	6,386		9,270
Interest receivable	104,383		123,243
Bank owned life insurance	539,372		531,805
Goodwill	1,320,799		1,320,799
Other intangible assets	87,520		97,242
Other assets	659,352		572,385
Total assets	$	24,208,162	$	26,876,049

LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest bearing transaction accounts	$	4,377,232	$	4,460,517
Interest bearing transaction accounts and savings deposits	10,932,914		10,982,022
Time deposits	4,527,587		6,443,211
Total deposits	19,837,733		21,885,750
Federal funds purchased and securities sold under agreements to repurchase	22,348		37,109
Other borrowings	18,832		745,372
Subordinated notes and debentures	648,976		366,293
Accrued interest and other liabilities	326,310		312,653
Total liabilities	20,854,199		23,347,177

Stockholders’ equity:
Common stock, Class A, $0.01 par value; 350,000,000 shares authorized at September 30, 2025 and December 31, 2024; 144,703,075 and 125,651,540 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	1,447		1,257
Surplus	2,848,977		2,511,590
Undivided profits	817,022		1,376,935
Accumulated other comprehensive loss	(313,483)		(360,910)
Total stockholders’ equity	3,353,963		3,528,872
Total liabilities and stockholders’ equity	$	24,208,162	$	26,876,049

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Income (Loss)

Three and Nine Months Ended September 30, 2025 and 2024


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share data)	2025		2024		2025		2024
	(Unaudited)				(Unaudited)
INTEREST INCOME
Loans, including fees	$	269,210	$	277,939	$	792,338	$	810,366
Interest bearing balances due from banks and federal funds sold	6,421		2,921		11,655		8,895
Investment securities	37,464		53,220		131,619		166,271
Mortgage loans held for sale	229		209		572		551
Assets held in trading accounts	99		—		99		—
TOTAL INTEREST INCOME	313,423		334,289		936,283		986,083

INTEREST EXPENSE
Deposits	116,610		152,244		373,403		457,210
Federal funds purchased and securities sold under agreements to repurchase	72		138		244		483
Other borrowings	2,957		17,067		21,284		43,741
Subordinated notes and debentures	7,123		7,128		19,445		21,126
TOTAL INTEREST EXPENSE	126,762		176,577		414,376		522,560

NET INTEREST INCOME	186,661		157,712		521,907		463,523
Provision for credit losses	11,966		12,148		50,708		33,453

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	174,695		145,564		471,199		430,070

NONINTEREST INCOME (LOSS)
Service charges on deposit accounts	13,045		12,713		38,268		36,920
Debit and credit card fees	8,478		8,144		25,491		24,552
Wealth management fees	9,965		9,098		29,058		26,683
Mortgage lending income	2,259		1,956		5,959		6,249
Bank owned life insurance income	3,943		3,757		11,925		11,447
Other service charges and fees	1,474		1,509		4,128		4,227
Loss on sale of securities, net	(801,492)		(28,393)		(801,492)		(28,393)
Other income	6,141		8,346		18,985		21,928
TOTAL NONINTEREST INCOME (LOSS)	(756,187)		17,130		(667,678)		103,613

NONINTEREST EXPENSE
Salaries and employee benefits	76,249		69,167		224,935		212,536
Occupancy expense, net	12,106		12,216		36,601		36,338
Furniture and equipment expense	5,275		5,612		16,214		16,376
Other real estate and foreclosure expense	200		87		614		383
Deposit insurance	5,175		5,571		15,483		18,388

Other operating expenses	43,027		44,540		131,354		132,405
TOTAL NONINTEREST EXPENSE	142,032		137,193		425,201		416,426

INCOME (LOSS) BEFORE INCOME TAXES	(723,524)		25,501		(621,680)		117,257
Provision (benefit) for income taxes	(160,732)		761		(146,049)		12,883

NET INCOME (LOSS)	$	(562,792)	$	24,740	$	(475,631)	$	104,374
BASIC EARNINGS PER SHARE	$	(4.01)	$	0.20	$	(3.64)	$	0.83
DILUTED EARNINGS PER SHARE	$	(4.00)	$	0.20	$	(3.63)	$	0.83

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Comprehensive Income (Loss)

Three and Nine Months Ended September 30, 2025 and 2024


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2025		2024		2025		2024
	(Unaudited)				(Unaudited)
NET INCOME (LOSS)	$	(562,792)	$	24,740	$	(475,631)	$	104,374

OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized holding (losses) gains arising during the period on available-for-sale securities	(835,485)		97,187		(840,504)		71,400
Less: Reclassification adjustment for realized losses included in net income	(801,492)		(28,393)		(801,492)		(28,393)
Less: Realized gains on derivative instruments	4,648		37,558		38,047		24,975
Less: Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity (1)	(129,912)		(6,231)		(141,267)		(17,938)
Other comprehensive income (loss), before tax effect	91,271		94,253		64,208		92,756
Less: Tax effect of other comprehensive income (loss)	23,854		24,633		16,781		24,242

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	67,417		69,620		47,427		68,514

COMPREHENSIVE INCOME (LOSS)	$	(495,375)	$	94,360	$	(428,204)	$	172,888

_______________________________________

(1)During the three and nine months ended September 30, 2025, the Company engaged in a balance sheet repositioning, which included the transfer of all held-to-maturity securities to the available-for-sale portfolio, including those previously transferred to the held-to-maturity portfolio. The securities were transferred at fair value and the previous related remaining combined net unrealized losses in accumulated other comprehensive income (loss) were either recognized as part of the securities transfer and subsequent sale of certain securities or will be amortized into income over the remaining life of the security. See Note 2, Investment Securities, for more information on the securities portfolio.

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Cash Flows

Nine Months Ended September 30, 2025 and 2024


(In thousands)	September 30, 2025		September 30, 2024
	(Unaudited)		(Unaudited)
OPERATING ACTIVITIES
Net income (loss)	$	(475,631)	$	104,374
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	30,952		34,863
Provision for credit losses	50,708		33,453
Loss on sale of investments	801,492		28,393
Net amortization of investment securities and assets	10,297		13,104
Net amortization on borrowings	158		114
Stock-based compensation expense	12,538		8,867
Gain on sale of closed branches	(152)		—
Gain on sale of foreclosed assets and other real estate owned	(506)		(911)
Gain on sale of mortgage loans held for sale	(5,998)		(6,503)
Loss on sale of loans	22		234
Loss on early extinguishment of debt	565		—
Deferred income taxes	(166,587)		(3,254)
Income from bank owned life insurance	(11,949)		(11,798)
Originations of mortgage loans held for sale	(203,824)		(211,421)
Proceeds from sale of mortgage loans held for sale	205,732		219,027
Changes in assets and liabilities:
Interest receivable	18,860		(3,270)
Assets held in trading accounts	(12,695)		—
Other assets	60,904		65,650
Accrued interest and other liabilities	32,343		74,820
Income taxes payable	(13,390)		(2,683)
Net cash provided by operating activities	333,839		343,059

INVESTING ACTIVITIES
Net change in loans	(315,554)		(519,391)
Proceeds from sale of loans	97,863		6,099
Proceeds from sale of closed branches	16,595		—
Purchases of premises and equipment, net	(28,155)		(34,935)
Proceeds from sale of foreclosed assets and other real estate owned	10,316		5,100
Proceeds from sale of available-for-sale securities	2,363,220		251,517
Proceeds from maturities of available-for-sale securities	278,783		205,164
Purchases of available-for-sale securities	(581,732)		—
Proceeds from maturities of held-to-maturity securities	41,009		62,460
Purchases of held-to-maturity securities	—		(1,000)
Purchases of bank owned life insurance	(15,697)		—
Surrender of bank owned life insurance	19,025		2,201
Proceeds from bank owned life insurance death benefits	1,055		1,376
Net cash provided by (used in) investing activities	1,886,728		(21,409)

FINANCING ACTIVITIES
Net change in deposits	(2,048,017)		(309,544)
Proceeds from issuance of other borrowed funds	1,480,000		2,650,000
Proceeds from issuance of subordinated notes	321,234		—
Repayments of other borrowed funds	(2,206,540)		(2,576,488)
Repayments of subordinated debt	(37,000)		—
Dividends paid on common stock	(84,282)		(79,055)
Net change in federal funds purchased and securities sold under agreements to repurchase	(14,761)		(16,898)
Issuance of common stock	327,431		—
Net shares cancelled under stock compensation plans	(3,228)		(1,325)
Shares issued under employee stock purchase plan	836		970
Net cash used in financing activities	(2,264,327)		(332,340)

DECREASE IN CASH AND CASH EQUIVALENTS	(43,760)		(10,690)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	687,377		614,092

CASH AND CASH EQUIVALENTS, END OF PERIOD	$	643,617	$	603,402

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Stockholders’ Equity

Three Months Ended September 30, 2025 and 2024


(In thousands, except share data)	Common Stock		Surplus		Accumulated Other Comprehensive Income (Loss)		Undivided Profits		Total
Three Months Ended September 30, 2025
Balance, June 30, 2025 (Unaudited)	$	1,260	$	2,518,286	$	(380,900)	$	1,410,564	$	3,549,210

Comprehensive income (loss)	—		—		67,417		(562,792)		(495,375)
Stock-based compensation plans, net – 53,827 shares	—		3,447		—		—		3,447
Issuance of common stock - 18,653,000 shares	187		327,244		—		—		327,431
Dividends on common stock – $0.2125 per share	—		—		—		(30,750)		(30,750)

Balance, September 30, 2025 (Unaudited)	$	1,447	$	2,848,977	$	(313,483)	$	817,022	$	3,353,963

Three Months Ended September 30, 2024
Balance, June 30, 2024 (Unaudited)	$	1,255	$	2,506,469	$	(405,481)	$	1,356,626	$	3,458,869

Comprehensive income	—		—		69,620		24,740		94,360
Stock-based compensation plans, net – 67,078 shares	1		1,969		—		—		1,970
Dividends on common stock – $0.21 per share	—		—		—		(26,366)		(26,366)

Balance, September 30, 2024 (Unaudited)	$	1,256	$	2,508,438	$	(335,861)	$	1,355,000	$	3,528,833

See Condensed Notes to Consolidated Financial Statements.

Simmons First National Corporation

Consolidated Statements of Stockholders’ Equity

Nine Months Ended September 30, 2025 and 2024


(In thousands, except share data)	Common Stock		Surplus		Accumulated Other Comprehensive Income (Loss)		Undivided Profits		Total
Nine Months Ended September 30, 2025
Balance, December 31, 2024	$	1,257	$	2,511,590	$	(360,910)	$	1,376,935	$	3,528,872

Comprehensive income (loss)	—		—		47,427		(475,631)		(428,204)
Stock issued for employee stock purchase plan – 46,857 shares	—		836		—		—		836
Stock-based compensation plans, net – 351,678 shares	3		9,307		—		—		9,310
Issuance of common stock - 18,653,000 shares	187		327,244		—		—		327,431
Dividends on common stock – $0.6375 per share	—		—		—		(84,282)		(84,282)

Balance, September 30, 2025 (Unaudited)	$	1,447	$	2,848,977	$	(313,483)	$	817,022	$	3,353,963

Nine Months Ended September 30, 2024
Balance, December 31, 2023	$	1,252	$	2,499,930	$	(404,375)	$	1,329,681	$	3,426,488

Comprehensive income	—		—		68,514		104,374		172,888
Stock issued for employee stock purchase plan – 53,161 shares	—		970		—		—		970
Stock-based compensation plans, net – 317,318 shares	4		7,538		—		—		7,542
Dividends on common stock – $0.63 per share	—		—		—		(79,055)		(79,055)

Balance, September 30, 2024 (Unaudited)	$	1,256	$	2,508,438	$	(335,861)	$	1,355,000	$	3,528,833

See Condensed Notes to Consolidated Financial Statements.

SIMMONS FIRST NATIONAL CORPORATION

CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1: PREPARATION OF INTERIM FINANCIAL STATEMENTS

Description of Business and Organizational Structure

Simmons First National Corporation (“Company”) is a Mid-South financial holding company headquartered in Pine Bluff, Arkansas, and the parent company of Simmons Bank, an Arkansas state-chartered bank that has been in operation since 1903 (“Simmons Bank” or the “Bank”). Simmons First Insurance Services, Inc. and Simmons First Insurance Services of TN, LLC are wholly-owned subsidiaries of Simmons Bank and are insurance agencies that offer various lines of personal and corporate insurance coverage to individual and commercial customers. The Company, through its subsidiaries, offers, among other things, consumer, real estate and commercial loans; checking, savings and time deposits; and specialized products and services (such as credit cards, trust and fiduciary services, investments, agricultural finance lending, equipment lending, insurance and Small Business Administration (“SBA”) lending) from approximately 223 financial centers as of September 30, 2025, located throughout market areas in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

Basis of Presentation

The accompanying unaudited consolidated financial statements have been prepared based upon Securities and Exchange Commission (“SEC”) rules that permit reduced disclosures for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2024, was derived from audited financial statements. In the opinion of management, these financial statements reflect all adjustments that are necessary for a fair presentation of interim results of operations, including normal recurring accruals. Significant intercompany accounts and transactions have been eliminated in consolidation. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 27, 2025.

The preparation of financial statements, in accordance with accounting principles generally accepted in the United States (“US GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income items and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements and actual results may differ from these estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of acquired loans, valuation of goodwill and subsequent impairment analysis, stock-based compensation plans and income taxes. Management obtains third party valuations to assist in valuing certain aspects of these material estimates, as appropriate, including independent appraisals for significant properties in connection with the determination of the allowance for credit losses and the fair value of acquired loans. Assumptions used in the goodwill impairment analysis involve internally projected forecasts, coupled with market and third-party data. These material estimates could change as a result of the uncertainty in current macroeconomic conditions and other factors that are beyond the Company’s control and could cause actual results to differ materially from those projected.

During the second quarter of 2024, the Company identified an error in its previously issued unaudited consolidated statements of cash flows. The cash flows associated with other borrowings were presented on a net basis, rather than on a gross basis. The Company corrected this error in the accompanying unaudited consolidated statements of cash flows for the nine months ended September 30, 2024. The correction had no impact to the total net cash used in financing activities in the period. During the year ended December 31, 2024, the Company also identified errors in its previously issued unaudited consolidated statements of cash flows related to the exclusion of gains and losses related to the pair off settlements of mortgage loans held for sale and the presentation of year-to-date originations of/proceeds from mortgage loans held for sale. The Company corrected these errors in the accompanying unaudited consolidated statements of cash flows for the nine months ended September 30, 2024. The corrections had no impact to the net cash provided by operating activities line item in the period. The Company evaluated the materiality of these errors utilizing Accounting Standards Codification (“ASC”) Topic 250 and SEC Staff Accounting Bulletin 99-M, both quantitatively and qualitatively, and concluded that these errors, individually and in combination, are immaterial to the impacted prior period.

Recently Adopted Accounting Standards

Stock Compensation - In March 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-01, Compensation-Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards (“ASU 2024-01”), in response to feedback received by the FASB requesting guidance on how entities should determine the appropriate guidance to apply when accounting for the issuance of profits interest units and similar types of awards. ASU 2024-01 added an example with four fact patterns to ASC 718-10 to assist preparers of financial statements in determining whether profits interest and similar awards should be accounted for within the scope of the guidance. ASU 2024-01 only addresses the scope determination and does not amend the recognition, classification or measurement guidance. ASU 2024-01 was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted for interim or annual financial statements that have not yet been issued or made available for issuance. Entities may choose to adopt 2024-01 on a prospective or retrospective basis. The adoption of ASU 2024-01 did not have a material impact on the Company’s operations, financial position or disclosures.

Income Taxes - In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), primarily focused on income tax disclosures regarding effective tax rates and cash income taxes paid. ASU 2023-09 requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted. The adoption of ASU 2023-09 did not have a material impact on the Company’s operations, financial position or disclosures.

Segment Reporting - In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which expanded reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments in this update introduced a new requirement to disclose significant segment expenses regularly provided to the chief operating decision maker, extend certain annual disclosures to interim periods, clarify that single reportable segment entities must apply Topic 280 in its entirety, permit more than one measure of segment profit or loss to be reported under certain conditions and require disclosure of the title and position of the chief operating decision maker. ASU 2023-07 was effective for public business entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The adoption of ASU 2023-07 did not have a material impact on the Company’s operations, financial position or disclosures. See Note 18, Operating Segments, for additional information.

Reference Rate Reform – In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”), which provided relief for companies preparing for discontinuation of interest rates such as the London Interbank Offered Rate (“LIBOR”). LIBOR is a benchmark interest rate referenced in a variety of agreements that are used by numerous entities. On March 5, 2021, the U.K. Financial Conduct Authority (“FCA”) announced that the majority of LIBOR rates will no longer be published after December 31, 2021. Effective January 1, 2022, the ICE Benchmark Administration Limited, the administrator of the LIBOR, ceased the publication of one-week and two-month USD LIBOR and as of June 30, 2023, ceased the publications of the remaining tenors of USD LIBOR (one, three, six and 12-month).

Other interest rates used globally could also be discontinued for similar reasons. ASU 2020-04 provided optional expedients and exceptions to contracts, hedging relationships and other transactions affected by reference rate reform. The main provisions for contract modifications include optional relief by allowing the modification as a continuation of the existing contract without additional analysis and other optional expedients regarding embedded features. Optional expedients for hedge accounting permitted changes to critical terms of hedging relationships and to the designated benchmark interest rate in a fair value hedge and also provided relief for assessing hedge effectiveness for cash flow hedges. Companies were able to apply ASU 2020-04 immediately; however, the guidance was only available for a limited time (generally through December 31, 2022). The Company formed a LIBOR Transition Team in 2020, has created standard LIBOR replacement language for new and modified loan notes, and is monitoring the remaining loans with LIBOR rates monthly to ensure progress in updating these loans with acceptable LIBOR replacement language or converting them to other interest rates.

During 2021, the Company did not offer LIBOR-indexed rates on loans which it originated, although it did participate in some shared credit agreements originated by other banks subject to the Company’s determination that the LIBOR replacement language in the loan documents met the Company’s standards. Pursuant to the Joint Regulatory Statement on LIBOR transition issued in October 2021, the Company’s policy, as of January 1, 2022, is not to enter into any new LIBOR-based credit agreements and not extend, renew, or modify prior LIBOR credit agreements without requiring conversion of the agreements to other interest rates. The adoption of ASU 2020-04 did not have a material impact on the Company’s financial position or results of operations.

In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope (“ASU 2021-01”), which clarified that certain optional expedients and exceptions in ASC 848 for contract modifications and hedge accounting apply to derivatives that are affected by the changes in the interest rates used for margining, discounting, or contract price alignment for derivative instruments that are being implemented as part of the market-wide transition to new reference rates (commonly referred to as the “discounting transition”). ASU 2021-01 also amended the expedients and exceptions in ASC 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. ASU 2021-01 was effective upon issuance and generally can be applied through December 31, 2022. ASU 2021-01 did not have a material impact on the Company’s financial position or results of operations.

In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (“ASU 2022-06”). ASU 2022-06 deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities are no longer permitted to apply the relief in Topic 848.

Recently Issued Accounting Standards

Disaggregation of Income Statement Expenses - In November 2024, the FASB issued ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), that requires footnote disclosure about specific expenses by requiring companies to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization and (v) depreciation, depletion and amortization recognized as part of oil- and gas-producing activities. The tabular disclosure would also include certain other expenses, when applicable. ASU 2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact ASU 2024-03 will have on its results of operations, financial position or disclosures.

There have been no other significant changes to the Company’s accounting policies disclosed in Note 1, Summary of Significant Accounting Policies, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Presently, the Company is not aware of any other changes to the Accounting Standards Codification that will have a material impact on its present or future financial position or results of operations.

NOTE 2: INVESTMENT SECURITIES

Held-to-maturity (“HTM”) securities, which include any security for which the Company has both the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant effective yield method over the security’s estimated life. Prepayments are anticipated for mortgage-backed and SBA securities. Premiums on callable securities are amortized to their earliest call date.

Available-for-sale (“AFS”) securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on specifically identified amortized cost of the individual security, are included in other income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders’ equity, further discussed below. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant effective yield method over the estimated life of the security. Prepayments are anticipated for mortgage-backed and SBA securities. Premiums on callable securities are amortized to their earliest call date.

Assets held in trading accounts, comprised of U.S. Treasury securities, are purchased with the intent of selling in the near term. Trading securities are carried at fair value with gains and losses included in other income.

During the third quarter of 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 a realized, after-tax loss of $625.6 million (based on actual tax rate of 21.946%).

During the quarters ended June 30, 2022 and September 30, 2021, the Company transferred, at fair value, $1.99 billion and $500.8 million, respectively, of securities from the AFS portfolio to the HTM portfolio. No gains or losses on these securities were recognized at the time of transfer. During the balance sheet repositioning that occurred during the third quarter of 2025, these securities were transferred out of the HTM portfolio to the AFS portfolio at fair value. The previous related remaining combined net unrealized losses in accumulated other comprehensive income (loss), which losses were $99.4 million, were either recognized as part of the securities transfer and subsequent sale of certain securities or will be amortized into income over the remaining life of the security.

As a result of the balance sheet repositioning, the Company did not hold any investment securities classified as HTM as of September 30, 2025. The amortized cost, fair value and allowance for credit losses of investment securities that were classified as HTM as of December 31, 2024 are as follows:


(In thousands)	Amortized Cost		Allowance for Credit Losses		Net Carrying Amount		Gross Unrealized Gains		Gross Unrealized (Losses)		Estimated Fair Value









December 31, 2024
U.S. Government agencies	$	455,869	$	—	$	455,869	$	—	$	(95,961)	$	359,908
Mortgage-backed securities	1,070,032		—		1,070,032		212		(133,746)		936,498
State and political subdivisions	1,857,373		(196)		1,857,177		20		(436,061)		1,421,136
Other securities	256,576		(3,018)		253,558		—		(21,149)		232,409
Total HTM	$	3,639,850	$	(3,214)	$	3,636,636	$	232	$	(686,917)	$	2,949,951

Mortgage-backed securities (“MBS”) are commercial MBS, secured by commercial properties, and residential MBS, generally secured by single-family residential properties. All mortgage-backed securities included in the table above were issued by U.S. government agencies or corporations. As of December 31, 2024, HTM MBS consisted of $136.0 million and $934.1 million of commercial MBS and residential MBS, respectively.

The amortized cost, fair value and allowance for credit losses of investment securities that are classified as AFS are as follows:


(In thousands)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized (Losses)		Estimated Fair Value
Available-for-sale

September 30, 2025

U.S. Government agencies	$	49,052	$	—	$	2	$	(699)	$	48,355
Mortgage-backed securities	2,446,711		—		5,032		(202,150)		2,249,593
State and political subdivisions	1,045,691		—		47		(200,367)		845,371
Other securities	182,520		—		170		(6,732)		175,958
Total AFS	$	3,723,974	$	—	$	5,251	$	(409,948)	$	3,319,277

December 31, 2024
U.S. Treasury	$	999	$	—	$	—	$	(3)	$	996
U.S. Government agencies	55,589		—		5		(1,047)		54,547
Mortgage-backed securities	1,545,539		—		4		(152,784)		1,392,759
State and political subdivisions	1,015,619		—		132		(157,569)		858,182
Other securities	235,028		—		166		(12,252)		222,942
Total AFS	$	2,852,774	$	—	$	307	$	(323,655)	$	2,529,426

As of September 30, 2025, AFS MBS consisted of $608.7 million and $1.64 billion of commercial MBS and residential MBS, respectively. As of December 31, 2024, AFS MBS consisted of $517.2 million and $875.5 million of commercial MBS and residential MBS, respectively.

Accrued interest receivable on AFS securities at September 30, 2025 was $23.3 million, and is included in interest receivable on the consolidated balance sheet. The Company has made the election to exclude all accrued interest receivable from securities from the estimate of credit losses.

The following table summarizes the Company’s AFS investments in an unrealized loss position for which an allowance for credit loss has not been recorded as of September 30, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


	Less Than 12 Months				12 Months or More				Total
(In thousands)	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
Available-for-sale
September 30, 2025

U.S. Government agencies	$	2,301	$	(23)	$	44,694	$	(676)	$	46,995	$	(699)
Mortgage-backed securities	3,255		(18)		1,718,920		(202,132)		1,722,175		(202,150)
State and political subdivisions	5,755		(1,028)		811,631		(199,339)		817,386		(200,367)
Other securities	—		—		105,160		(6,732)		105,160		(6,732)
Total AFS	$	11,311	$	(1,069)	$	2,680,405	$	(408,879)	$	2,691,716	$	(409,948)

December 31, 2024
U.S. Treasury	$	—	$	—	$	996	$	(3)	$	996	$	(3)
U.S. Government agencies	717		(7)		51,186		(1,040)		51,903		(1,047)
Mortgage-backed securities	7,480		(189)		1,384,532		(152,595)		1,392,012		(152,784)
State and political subdivisions	16,843		(195)		829,754		(157,374)		846,597		(157,569)
Other securities	12,912		(20)		162,803		(12,232)		175,715		(12,252)
Total AFS	$	37,952	$	(411)	$	2,429,271	$	(323,244)	$	2,467,223	$	(323,655)

As of September 30, 2025, the Company’s investment portfolio included $3.32 billion of AFS securities, of which $2.69 billion, or 81.1%, were in an unrealized loss position that were not deemed to have credit losses. A portion of the unrealized losses were related to the Company’s MBS, which are issued and guaranteed by U.S. government-sponsored entities and agencies, and the Company’s state and political subdivision securities, specifically investments in insured fixed rate municipal bonds for which the issuers continue to make timely principal and interest payments under the contractual terms of the securities.

Furthermore, the decline in fair value for each of the above AFS securities is attributable to the rates for those investments yielding less than current market rates. Management does not believe any of the securities are impaired due to reasons of credit quality. Management believes the declines in fair value for the securities are temporary. Management does not have the immediate intent to sell the securities, and management believes the accounting standard of “more likely than not” has not been met regarding whether the Company would be required to sell any of the AFS securities before recovery of amortized cost.

Allowance for Credit Losses

All MBS held by the Company are issued by U.S. government-sponsored entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, highly rated by major rating agencies and have a long history of no credit losses. Accordingly, no allowance for credit losses has been recorded for these securities.

Regarding securities issued by state and political subdivisions and other HTM securities, the adequacy of the reserve for credit loss is determined quarterly based on methodology similar to the methodology for determining the allowance for credit losses on loans. The methodology considers, but is not limited to: (i) issuer bond ratings, (ii) issuer geography, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) probability-weighted multiple scenario forecasts, and (v) the issuers’ size.

The following table details activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2025 on the Company’s HTM securities portfolio.


(In thousands)	State and Political Subdivisions		Other Securities		Total
Three Months Ended September 30, 2025
Held-to-maturity
Beginning balance, July 1, 2025	$	202	$	3,012	$	3,214
Provision for credit loss expense	(202)		(3,012)		(3,214)

Ending balance, September 30, 2025	$	—	$	—	$	—

Nine Months Ended September 30, 2025
Held-to-maturity
Beginning balance, January 1, 2025	$	196	$	3,018	$	3,214
Provision for credit loss expense	(202)		(3,012)		(3,214)
Net increase (decrease) in allowance on previously impaired securities	6		(6)		—
Ending balance, September 30, 2025	$	—	$	—	$	—

Activity in the allowance for credit losses by investment security type for the three and nine months ended September 30, 2024 on the Company’s HTM securities portfolio was as follows:


(In thousands)	State and Political Subdivisions		Other Securities		Total
Three Months Ended September 30, 2024
Held-to-maturity
Beginning balance, July 1, 2024	$	191	$	3,023	$	3,214
Provision for credit loss expense	—		—		—
Net increase (decrease) in allowance on previously impaired securities	36		(36)		—
Ending balance, September 30, 2024	$	227	$	2,987	$	3,214







Nine Months Ended September 30, 2024
Held-to-maturity
Beginning balance, January 1, 2024	$	2,006	$	1,208	$	3,214
Provision for credit loss expense	—		—		—
Net (decrease) increase in allowance on previously impaired securities	(1,779)		1,779		—
Ending balance, September 30, 2024	$	227	$	2,987	$	3,214

Historical loss rates associated with securities having similar grades as those in the Company’s portfolio have generally not been significant. Pre-refunded securities, if any, have been defeased by the issuer and are fully secured by cash and/or U.S. Treasury securities held in escrow for payment to holders when the underlying call dates of the securities are reached. Securities with other credit enhancement or insurance continue to make timely principal and interest payments under the contractual terms of the securities. Accordingly, no allowance for credit losses has been recorded for these securities as there is no current expectation of credit losses related to these securities.

Based upon the Company’s analysis of the underlying risk characteristics of its AFS portfolio, including credit ratings and other qualitative factors, as previously discussed, there was no provision for credit losses related to the Company’s AFS portfolio recorded for the three and nine month periods ended September 30, 2025 or 2024. During the three and nine month periods ended September 30, 2025, the Company recaptured $3.2 million of the allowance for credit loss related to HTM securities due to the balance sheet repositioning.

Income earned on securities for the three and nine months ended September 30, 2025 and 2024, is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2025		2024		2025		2024
Taxable:
Held-to-maturity	$	2,370	$	10,533	$	22,993	$	32,378
Available-for-sale	26,813		26,940		69,007		86,576

Non-taxable:
Held-to-maturity	1,945		10,101		22,048		30,298
Available-for-sale	6,336		5,646		17,571		17,019
Total	$	37,464	$	53,220	$	131,619	$	166,271

The amortized cost and estimated fair value by maturity of AFS securities as of September 30, 2025 are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities.


	Available-for-Sale
(In thousands)		Amortized Cost		Fair Value
One year or less		$	10,889	$	10,792
After one through five years		104,625		104,255
After five through ten years		138,009		130,883
After ten years		1,023,532		823,546
Securities not due on a single maturity date		2,446,711		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)	2025		2024
Consumer:
Credit cards	$	173,020	$	181,675
Other consumer	112,335		127,319
Total consumer	285,355		308,994
Real Estate:
Construction and development	2,874,823		2,789,249
Single family residential	2,617,849		2,689,946
Other commercial	7,875,649		7,912,336
Total real estate	13,368,321		13,391,531
Commercial:
Commercial	2,397,388		2,434,175
Agricultural	353,181		261,154
Total commercial	2,750,569		2,695,329
Other	784,572		610,083
Total loans	$	17,188,817	$	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 $4.1 million and $7.2 million at September 30, 2025 and December 31, 2024, respectively, and (ii) deferred origination costs and fees of $8.1 million and $9.6 million at September 30, 2025 and December 31, 2024, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $81.1 million and $78.8 million at September 30, 2025 and December 31, 2024, respectively, and is included in interest receivable on the consolidated balance sheets.

Loan Origination/Risk Management – The Company seeks to manage its credit risk by diversifying its loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral; obtaining and monitoring collateral; and providing an adequate allowance for credit losses by regularly reviewing loans through the internal loan review process. The loan portfolio is diversified by borrower, purpose and industry. The Company seeks to use diversification within the loan portfolio to reduce its credit risk, thereby minimizing the adverse impact on the portfolio if weaknesses develop in either the economy or a particular segment of borrowers. Collateral requirements are based on credit assessments of borrowers and may be used to recover the debt in case of default.

Consumer – The consumer loan portfolio consists of credit card loans and other consumer loans. Credit card loans are diversified by geographic region to reduce credit risk and minimize any adverse impact on the portfolio. Although they are regularly reviewed to facilitate the identification and monitoring of creditworthiness, credit card loans are unsecured loans, making them more susceptible to economic downturns that result in increased unemployment. Other consumer loans include direct installment loans and account overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures.

Real estate – The real estate loan portfolio consists of construction and development loans (“C&D”), single family residential loans and commercial loans. C&D and commercial real estate (“CRE”) loans can be particularly sensitive to valuation of real estate. CRE cycles are inevitable. The long planning and production process for new properties and rapid shifts in business conditions and employment create an inherent tension between supply and demand for commercial properties. While general economic trends often move individual markets in the same direction over time, the timing and magnitude of changes are determined by other forces unique to each market. CRE cycles tend to be local in nature and longer than other credit cycles. Factors influencing the CRE market are traditionally different from those affecting residential real estate markets; thereby making predictions for one market based on the other difficult. Additionally, submarkets within CRE – such as office, industrial, apartment, retail and hotel – also experience different cycles, providing an opportunity to lower the overall risk through diversification across types of CRE loans. Management realizes that local demand and supply conditions will also mean that different geographic areas will experience cycles of different amplitude and duration. The Company monitors these loans closely.

Commercial – The commercial loan portfolio includes commercial and agricultural loans, representing loans to commercial customers and farmers for use in normal business or farming operations to finance working capital needs, equipment purchases or other expansion projects. Paycheck Protection Program (“PPP”) loans are also included in the commercial loan portfolio. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrowers, particularly cash flow from customers’ business or farming operations. The Company continues its efforts to keep loan terms short, reducing the negative impact of upward movement in interest rates. Term loans are generally set up with one or three year balloons, and the Company has instituted a pricing mechanism for commercial loans. It is general practice to require personal guaranties on commercial loans for closely-held or limited liability entities.

Paycheck Protection Program Loans – The Company originated loans pursuant to multiple PPP appropriations of the Coronavirus Aid, Relief and Economic Security Act which provided 100% federally guaranteed loans for small businesses to cover up to 24 weeks of payroll costs and assistance with mortgage interest, rent and utilities. Notably, these small business loans may be forgiven by the SBA if borrowers maintain their payrolls and satisfy certain other conditions. PPP loans have a zero percent risk-weight for regulatory capital ratios. As of September 30, 2025 and December 31, 2024, the total outstanding balance of PPP loans was $370,000 and $1.6 million, respectively.

Other – The other loan portfolio includes mortgage warehouse loans, representing warehouse lines of credit to mortgage originators for the disbursement of newly originated 1-4 family residential loans. Also included in the other loan portfolio are loans to public sector customers, including state and local governments.

Nonaccrual and Past Due Loans – Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The amortized cost basis of nonaccrual loans segregated by class of loans are as follows:


	September 30,		December 31,
(In thousands)	2025		2024
Consumer:
Credit cards	$	593	$	565
Other consumer	266		678
Total consumer	859		1,243
Real estate:
Construction and development	9,326		10,681
Single family residential	30,671		33,972
Other commercial	80,970		28,524
Total real estate	120,967		73,177
Commercial:
Commercial	29,564		35,161
Agricultural	1,562		570
Total commercial	31,126		35,731
Other	564		3
Total	$	153,516	$	110,154

As of September 30, 2025 and December 31, 2024, nonaccrual loans for which there was no related allowance for credit losses had an amortized cost of $6.8 million and $1.7 million, respectively. These loans are individually assessed and do not hold an allowance due to being adequately collateralized under the collateral-dependent valuation method.

An age analysis of the amortized cost basis of past due loans, including nonaccrual loans, segregated by class of loans is as follows:


(In thousands)	Gross 30-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans		90 Days Past Due & Accruing
September 30, 2025
Consumer:
Credit cards	$	1,360	$	613	$	1,973	$	171,047	$	173,020	$	423
Other consumer	1,142		135		1,277		111,058		112,335		—
Total consumer	2,502		748		3,250		282,105		285,355		423
Real estate:
Construction and development	283		9,285		9,568		2,865,255		2,874,823		—
Single family residential	18,401		12,250		30,651		2,587,198		2,617,849		—
Other commercial	12,985		67,942		80,927		7,794,722		7,875,649		—
Total real estate	31,669		89,477		121,146		13,247,175		13,368,321		—
Commercial:
Commercial	4,953		25,251		30,204		2,367,184		2,397,388		—
Agricultural	638		892		1,530		351,651		353,181		—
Total commercial	5,591		26,143		31,734		2,718,835		2,750,569		—
Other	—		3		3		784,569		784,572		—
Total	$	39,762	$	116,371	$	156,133	$	17,032,684	$	17,188,817	$	423

December 31, 2024
Consumer:
Credit cards	$	1,824	$	635	$	2,459	$	179,216	$	181,675	$	529
Other consumer	1,752		381		2,133		125,186		127,319		—
Total consumer	3,576		1,016		4,592		304,402		308,994		529
Real estate:
Construction and development	332		10,530		10,862		2,778,387		2,789,249		—
Single family residential	34,651		16,013		50,664		2,639,282		2,689,946		—
Other commercial	5,433		26,973		32,406		7,879,930		7,912,336		—
Total real estate	40,416		53,516		93,932		13,297,599		13,391,531		—
Commercial:
Commercial	3,535		27,059		30,594		2,403,581		2,434,175		74
Agricultural	393		104		497		260,657		261,154		—
Total commercial	3,928		27,163		31,091		2,664,238		2,695,329		74
Other	276		3		279		609,804		610,083		—
Total	$	48,196	$	81,698	$	129,894	$	16,876,043	$	17,005,937	$	603

Loan Modifications to Borrowers Experiencing Financial Difficulty

The Company has internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties may include interest rate reductions, principal or interest forgiveness and/or term extensions. The Company primarily uses interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal.

The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three and nine month periods ended September 30, 2025.


			Percent of				Percent of
	Interest Rate		Total Class				Total Class
(Dollars in thousands)	Reduction		of Loans		Term Extension		of Loans
Three Months Ended September 30, 2025
Consumer:
Other consumer	$	—	—	%	$	21	0.02	%
Total consumer	—				21
Real estate:
Single family residential	309		0.01	%	—		—	%
Total real estate	309				—
Total	$	309			$	21

Nine Months Ended September 30, 2025
Consumer:
Other consumer	$	—	—	%	$	21	0.02	%
Total consumer	—				21
Real estate:
Single family residential	827		0.03	%	—		—	%
Total real estate	827				—
Total	$	827			$	21

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three and nine month periods ended September 30, 2025. Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during those periods.


			Percent of
	Interest Rate		Total Class
(Dollars in thousands)	Reduction		of Loans
Three Months Ended September 30, 2024
Real estate:
Single family residential	$	142	0.01	%
Total real estate	$	142

Nine Months Ended September 30, 2024
Real estate:
Single family residential	$	795	0.03	%
Total real estate	$	795

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty. There was one CRE loan, related to a downtown St. Louis hotel that was originated pre-pandemic, to a borrower experiencing financial difficulty with a period-end amortized cost basis of $26.7 million that was modified during the previous twelve months and which subsequently defaulted during the nine months ended September 30, 2025. This CRE loan was placed on nonaccrual status during the period. There was one commercial loan to a borrower experiencing financial difficulty with a period-end amortized cost basis of $23,000 that was modified and subsequently defaulted during the twelve month period ended September 30, 2024. In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received more than 90 days after its due date.

At September 30, 2025 and December 31, 2024, the Company had $3.4 million and $4.0 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At September 30, 2025 and December 31, 2024, the Company had $4.2 million and $1.3 million, respectively, of Other Real Estate Owned (“OREO”) secured by residential real estate properties.

Credit Quality Indicators – As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) nonperforming loans (see details above) and (v) the general economic conditions of the Company’s local markets.

The Company utilizes a risk rating matrix to assign a risk rate to each of its commercial and real estate loans. Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes including lending management monitoring, executive management and board committee oversight, and independent credit review. A description of the general characteristics of the risk ratings is as follows:

•Pass (Excellent) – This category includes loans which are virtually free of credit risk. Borrowers in this category represent the highest credit quality and greatest financial strength.

•Pass (Good) - Loans under this category possess a nominal risk of default. This category includes borrowers with strong financial strength and superior financial ratios and trends. These loans are generally fully secured by cash or equivalents (other than those rated “excellent”).

•Pass (Acceptable – Average) - Loans in this category are considered to possess a normal level of risk. Borrowers in this category have satisfactory financial strength and adequate cash flow coverage to service debt requirements. If secured, the perfected collateral should be of acceptable quality and within established borrowing parameters.

•Pass (Monitor) - Loans in the Watch (Monitor) category exhibit an overall acceptable level of risk, but that risk may be increased by certain conditions, which represent “red flags”. These “red flags” require a higher level of supervision or monitoring than the normal “Pass” rated credit. The borrower may be experiencing these conditions for the first time, or it may be recovering from weakness, which at one time justified a higher rating. These conditions may include: weaknesses in financial trends; marginal cash flow; one-time negative operating results; non-compliance with policy or borrowing agreements; poor diversity in operations; lack of adequate monitoring information or lender supervision; questionable management ability/stability.

•Special Mention - A loan in this category has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention loans are not adversely classified (although they are “criticized”) and do not expose an institution to sufficient risk to warrant adverse classification. Borrowers may be experiencing adverse operating trends or an ill-proportioned balance sheet. Non-financial characteristics of a Special Mention rating may include management problems, pending litigation, a non-existent or ineffective loan agreement or other material structural weakness, and/or other significant deviation from prudent lending practices.

•Substandard - A Substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the loan.

•Doubtful - A loan classified Doubtful has all the weaknesses inherent in a substandard loan except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. The possibility of loss is extremely high, but because of specific pending events that may strengthen the asset, its classification as loss is deferred. Pending factors include: proposed merger or acquisition; liquidation procedures; capital injection; perfection of liens on additional collateral; and refinancing plans. Loans classified as Doubtful are placed on nonaccrual status.

•Loss - Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loans has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless loan, even though partial recovery may be affected in the future. Borrowers in the Loss category are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Loans should be classified as Loss and charged-off in the period in which they become uncollectible.

The Company monitors credit quality in the consumer portfolio by delinquency status. The delinquency status of loans is updated daily. A description of the delinquency credit quality indicators is as follows:

•Current - Loans in this category are either current in payments or are under 30 days past due. These loans are considered to have a normal level of risk.

•30-89 Days Past Due - Loans in this category are between 30 and 89 days past due and are subject to the Company’s loss mitigation process. These loans are considered to have a moderate level of risk.

•90+ Days Past Due - Loans in this category are 90 days or more past due and are placed on nonaccrual status. These loans have been subject to the Company’s loss mitigation process and foreclosure and/or charge-off proceedings have commenced.

The Company uses a dual risk rating scale that utilizes quantitative models and qualitative factors (“score cards”) to assist in determining the appropriate risk rating for its commercial loans. This dual risk rating methodology incorporates a “probability of default” analysis which utilizes quantified metrics such as loan terms and financial performance, as well as a “loss given default” analysis which utilizes collateral values and economics of the market, among other attributes. Model outputs are reviewed and analyzed to ensure the projected risk levels are commensurate with underwriting and credit leader expectations. The risk rating scale includes Probability of Default levels of 1 – 16 and Loss Given Default levels of A – I. The scale allows for more granular recognition of risk and diversification of grading among traditional Pass grades.

The following is a reconciliation between the expanded risk rating scale and the Company’s traditional risk rating segments utilized within the commercial loan classes presented in the credit quality indicator tables.

•Pass - Includes loans with an expanded risk rating of 1 through 11. Loans with a risk rating of 10 and 11 equate to loans included on management’s “watch list” and is intended to be utilized on a temporary basis for pass grade borrowers where a significant risk-modifying action is anticipated in the near term.

•Special Mention - Includes loans with an expanded risk rating of 12.

•Substandard - Includes loans with an expanded risk rating of 13 and 14.

•Doubtful and loss - Includes loans with an expanded risk rating of 15 and 16.

The following table presents a summary of loans by credit quality indicator, as of September 30, 2025, segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025 (YTD)		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	171,047	$	—	$	171,047
30-89 days past due	—		—		—		—		—		—		1,360		—		1,360
90+ days past due	—		—		—		—		—		—		613		—		613
Total consumer - credit cards	—		—		—		—		—		—		173,020		—		173,020
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		5,024		—		5,024
Consumer - other
Delinquency:
Current	49,396		18,565		9,695		8,621		2,443		1,101		21,237		—		111,058
30-89 days past due	229		362		152		344		28		—		27		—		1,142
90+ days past due	30		59		20		18		8		—		—		—		135
Total consumer - other	49,655		18,986		9,867		8,983		2,479		1,101		21,264		—		112,335
Current-period consumer - other gross charge-offs	53		713		285		637		63		36		104		—		1,891
Real estate - C&D
Risk rating:
Pass	83,248		72,848		82,239		34,795		19,253		18,498		2,540,087				2,850,968
Special mention	—		—		—		46		—		—		12,115				12,161
Substandard	—		300		52		19		21		42		11,260				11,694
Doubtful and loss	—		—		—		—		—		—		—				—
Total real estate - C&D	83,248		73,148		82,291		34,860		19,274		18,540		2,563,462		—		2,874,823
Current-period real estate - C&D gross charge-offs	—		34		—		—		2		—		14		—		50
Real estate - SF residential
Delinquency:
Current	193,423		218,445		283,430		501,913		266,946		591,325		531,716		—		2,587,198
30-89 days past due	520		3,263		2,372		4,342		822		4,464		2,618		—		18,401
90+ days past due	334		3,125		1,559		2,739		208		2,338		1,947		—		12,250
Total real estate - SF residential	194,277		224,833		287,361		508,994		267,976		598,127		536,281		—		2,617,849
Current-period real estate - SF residential gross charge-offs	—		271		282		122		47		35		232		—		989


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025 (YTD)		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Real estate - other commercial
Risk rating:
Pass	$	804,441	$	692,222	$	502,547	$	1,168,191	$	840,703	$	672,954	$	2,671,842	$	—	$	7,352,900
Special mention	—		5,803		4,023		24,970		2,023		13,225		136,234		—		186,278
Substandard	3,841		34,855		6,645		16,948		16,323		34,970		222,843		—		336,425
Doubtful and loss	—		—		—		46		—		—		—		—		46
Total real estate - other commercial	808,282		732,880		513,215		1,210,155		859,049		721,149		3,030,919		—		7,875,649
Current-period real estate - other commercial gross charge-offs	192		353		26		274		24		157		5,160		—		6,186
Commercial
Risk rating:
Pass	267,528		205,563		184,867		169,479		72,287		32,288		1,377,766		—		2,309,778
Special mention	—		331		962		757		77		717		32,919		—		35,763
Substandard	3,440		14,625		4,541		5,148		1,668		4,402		18,007		—		51,831
Doubtful and loss	—		—		13		3		—		—		—		—		16
Total commercial	270,968		220,519		190,383		175,387		74,032		37,407		1,428,692		—		2,397,388
Current-period commercial - gross charge-offs	60		52		1,530		3,489		929		2,899		11,586		—		20,545
Commercial - agriculture
Risk rating:
Pass	42,969		19,569		15,416		10,742		3,596		2,070		256,622		—		350,984
Special mention	497		17		—		69		—		—		52		—		635
Substandard	—		110		9		32		—		120		1,291		—		1,562
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	43,466		19,696		15,425		10,843		3,596		2,190		257,965		—		353,181
Current-period commercial - agriculture gross charge-offs	—		6		11		—		—		13		4		—		34
Other
Delinquency:
Current	27,308		64,486		27,017		128,936		26,090		26,592		484,140		—		784,569
30-89 days past due	—		—		—		—		—		—		—		—		—
90+ days past due	—		—		—		—		—		3		—		—		3
Total other	27,308		64,486		27,017		128,936		26,090		26,595		484,140		—		784,572
Current-period other - gross charge-offs	—		—		—		—		—		—		193		—		193
Total	$	1,477,204	$	1,354,548	$	1,125,559	$	2,078,158	$	1,252,496	$	1,405,109	$	8,495,743	$	—	$	17,188,817

The following table presents a summary of loans by credit quality indicator, as of December 31, 2024, segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2024		2023		2022		2021		2020		2019 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	179,216	$	—	$	179,216
30-89 days past due	—		—		—		—		—		—		1,824		—		1,824
90+ days past due	—		—		—		—		—		—		635		—		635
Total consumer - credit cards	—		—		—		—		—		—		181,675		—		181,675
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		6,437		—		6,437
Consumer - other
Delinquency:
Current	63,986		17,227		17,877		4,713		1,304		893		19,186		—		125,186
30-89 days past due	515		176		701		59		14		2		285		—		1,752
90+ days past due	85		56		183		20		—		35		2		—		381
Total consumer - other	64,586		17,459		18,761		4,792		1,318		930		19,473		—		127,319
Current-period consumer - other gross charge-offs	192		680		553		98		13		10		292		—		1,838
Real estate - C&D
Risk rating:
Pass	50,288		113,056		71,908		28,921		18,187		20,653		2,468,334		—		2,771,347
Special mention	—		—		50		—		—		376		2,862		—		3,288
Substandard	59		409		66		532		—		88		13,460		—		14,614
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - C&D	50,347		113,465		72,024		29,453		18,187		21,117		2,484,656		—		2,789,249
Current-period real estate - C&D gross charge-offs	162		—		—		—		—		—		521		—		683
Real estate - SF residential
Delinquency:
Current	225,040		324,605		559,278		314,700		187,752		543,590		484,317		—		2,639,282
30-89 days past due	1,205		4,201		9,578		3,316		1,525		12,389		2,437		—		34,651
90+ days past due	1,016		606		4,578		630		1,299		3,951		3,933		—		16,013
Total real estate - SF residential	227,261		329,412		573,434		318,646		190,576		559,930		490,687		—		2,689,946
Current-period real estate - SF residential gross charge-offs	3		190		231		—		37		134		247		—		842
Real estate - other commercial
Risk rating:
Pass	603,206		490,128		1,519,950		1,021,169		419,769		646,399		2,800,863		—		7,501,484
Special mention	9,479		16,272		12,401		9,494		1,472		12,754		111,466		—		173,338
Substandard	12,093		17,099		11,399		3,063		12,073		31,126		150,661		—		237,514
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - other commercial	624,778		523,499		1,543,750		1,033,726		433,314		690,279		3,062,990		—		7,912,336
Current-period real estate - other commercial gross charge-offs	—		5,202		38		15		—		1		168		—		5,424


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2024		2023		2022		2021		2020		2019 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Commercial
Risk rating:
Pass	$	245,945	$	253,518	$	257,227	$	118,910	$	28,620	$	44,606	$	1,411,467	$	200	$	2,360,493
Special mention	112		583		523		313		6		1,025		7,498		—		10,060
Substandard	10,743		2,035		8,317		2,876		2,954		5,923		30,771		—		63,619
Doubtful and loss	—		—		3		—		—		—		—		—		3
Total commercial	256,800		256,136		266,070		122,099		31,580		51,554		1,449,736		200		2,434,175
Current-period commercial - gross charge-offs	536		1,087		5,311		3,500		913		1,994		13,289		—		26,630
Commercial - agriculture
Risk rating:
Pass	30,103		23,222		20,673		8,220		2,825		1,209		169,849		—		256,101
Special mention	—		—		111		—		—		—		2,299		—		2,410
Substandard	1,222		14		29		—		123		14		1,241		—		2,643
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	31,325		23,236		20,813		8,220		2,948		1,223		173,389		—		261,154
Current-period commercial - agriculture gross charge-offs	—		222		—		8		6		—		1		—		237
Other
Delinquency:
Current	71,671		35,574		136,416		26,930		1,287		30,085		307,841		—		609,804
30-89 days past due	—		276		—		—		—		—		—		—		276
90+ days past due	—		—		—		—		—		3		—		—		3
Total other	71,671		35,850		136,416		26,930		1,287		30,088		307,841		—		610,083
Current-period other - gross charge-offs	—		—		—		—		—		—		473		—		473
Total	$	1,326,768	$	1,299,057	$	2,631,268	$	1,543,866	$	679,210	$	1,355,121	$	8,170,447	$	200	$	17,005,937

Allowance for Credit Losses

Allowance for Credit Losses – The allowance for credit losses is a reserve established through a provision for credit losses charged to expense, which represents management’s best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations. The allowance, in the judgment of management, is necessary to reserve for expected loan losses and risks inherent in the loan portfolio. The Company’s allowance for credit loss methodology includes reserve factors calculated to estimate current expected credit losses to amortized cost balances over the remaining contractual life of the portfolio, adjusted for prepayments, in accordance with ASC Topic 326-20, Financial Instruments - Credit Losses. Accordingly, the methodology is comprised of two components: individual assessments on loans with unique risk characteristics and collective assessments for loans that share similar risk characteristics. Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated for collective assessment. The Company uses statistically-based models that leverage assumptions about current and future economic conditions throughout the contractual life of the loan. Expected credit losses are estimated by either lifetime loss rates or expected loss cash flows based on three key parameters: probability-of-default (“PD”), exposure-at-default (“EAD”), and loss-given-default (“LGD”). Future economic conditions are incorporated to the extent that they are reasonable and supportable. Beyond the reasonable and supportable periods, the economic variables revert to a historical equilibrium at a pace dependent on the state of the economy reflected within the economic scenarios. To determine the best estimate of credit losses as of September 30, 2025, the Company utilized a probability-weighted, multiple-scenario approach consisting of Baseline, Upside (S1), and Downside (S3) scenarios published by Moody’s Analytics in September 2025 that was updated to reflect the U.S. economic outlook. The Company also includes qualitative adjustments to the allowance based on factors and considerations that have not otherwise been fully accounted for. These factors may include but are not limited to portfolio trends and considerations, other economic considerations, policy actions, concentration risk, or imprecision risk.

Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated into homogeneous segments for assessment. Reserve factors are based on estimated probability of default and loss given default for each segment. The estimates are determined based on economic forecasts over the reasonable and supportable forecast period based on projected performance of economic variables that have a statistical relationship with the historical loss experience of the segments.

Loans that have unique risk characteristics are evaluated on an individual basis. These evaluations are typically performed on loans with a deteriorated internal risk rating. For a collateral-dependent loan, the Company’s evaluation process includes a valuation by appraisal or other collateral analysis adjusted for selling costs, when appropriate. This valuation is compared to the remaining outstanding principal balance of the loan. If a loss is determined to be probable, the loss is included in the allowance for credit losses as a specific allocation.

Loans for which the repayment is expected to be provided substantially through the operation or sale of collateral and where the borrower is experiencing financial difficulty had an amortized cost of $108.4 million and $102.6 million as of September 30, 2025 and December 31, 2024, respectively, as further detailed in the table below. The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.


(In thousands)	Real Estate Collateral		Other Collateral		Total
September 30, 2025
Construction and development	$	402	$	—	$	402
Single family residential	—		—		—
Other commercial real estate	92,542		—		92,542
Commercial			15,472		15,472
Total	$	92,944	$	15,472	$	108,416

December 31, 2024
Construction and development	$	1,251	$	—	$	1,251
Single family residential	—		—		—
Other commercial real estate	69,429		—		69,429
Commercial	—		31,900		31,900
Total	$	70,680	$	31,900	$	102,580

The following table details activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2025. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Allowance for credit losses:
Three Months Ended September 30, 2025
Beginning balance, July 1, 2025	$	37,198	$	203,985	$	6,087	$	6,267	$	253,537
Provision for credit loss expense	7,196		5,517		1,499		968		15,180
Charge-offs	(8,079)		(1,350)		(1,862)		(600)		(11,891)
Recoveries	505		115		257		303		1,180
Net (charge-offs) recoveries	(7,574)		(1,235)		(1,605)		(297)		(10,711)
Ending balance, September 30, 2025	$	36,820	$	208,267	$	5,981	$	6,938	$	258,006


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Nine Months Ended September 30, 2025
Beginning balance, January 1, 2025	$	41,587	$	181,962	$	6,007	$	5,463	$	235,019
Provision for credit loss expense	13,841		33,229		4,196		2,656		53,922
Charge-offs	(20,579)		(7,225)		(5,024)		(2,084)		(34,912)
Recoveries	1,971		301		802		903		3,977
Net (charge-offs) recoveries	(18,608)		(6,924)		(4,222)		(1,181)		(30,935)
Ending balance, September 30, 2025	$	36,820	$	208,267	$	5,981	$	6,938	$	258,006

Activity in the allowance for credit losses for the three and nine months ended September 30, 2024 was as follows:


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Allowance for credit losses:
Three Months Ended September 30, 2024
Beginning balance, July 1, 2024	$	43,550	$	175,176	$	5,765	$	5,898	$	230,389
Provision for credit loss expense	8,088		1,598		1,755		707		12,148
Charge-offs	(8,235)		(159)		(1,744)		(524)		(10,662)
Recoveries	439		403		231		275		1,348
Net (charge-offs) recoveries	(7,796)		244		(1,513)		(249)		(9,314)
Ending balance, September 30, 2024	$	43,842	$	177,018	$	6,007	$	6,356	$	233,223

Nine Months Ended September 30, 2024
Beginning balance, January 1, 2024	$	36,470	$	177,177	$	5,868	$	5,716

SIMMONS FIRST NATIONAL CORP 10-Q