2024Q1false0000090498--12-31P1Yhttp://simmonsbank.com/20240331#PropertyPlantandEquipmentandRightofUseAssetafterAccumulatedDepreciationandAmortizationhttp://simmonsbank.com/20240331#PropertyPlantandEquipmentandRightofUseAssetafterAccumulatedDepreciationandAmortizationhttp://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2023#FederalHomeLoanBankCertificatesAndObligationsFHLBMemberhttp://fasb.org/us-gaap/2023#FederalHomeLoanBankCertificatesAndObligationsFHLBMemberhttp://fasb.org/us-gaap/2023#FederalHomeLoanBankCertificatesAndObligationsFHLBMemberhttp://fasb.org/us-gaap/2023#FederalHomeLoanBankCertificatesAndObligationsFHLBMemberhttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#OtherAssets00000904982024-01-012024-03-3100000904982024-05-02xbrli:shares00000904982024-03-31iso4217:USD00000904982023-12-31iso4217:USDxbrli:shares00000904982023-01-012023-03-310000090498us-gaap:DepositAccountMember2024-01-012024-03-310000090498us-gaap:DepositAccountMember2023-01-012023-03-310000090498us-gaap:CreditAndDebitCardMember2024-01-012024-03-310000090498us-gaap:CreditAndDebitCardMember2023-01-012023-03-310000090498us-gaap:FiduciaryAndTrustMember2024-01-012024-03-310000090498us-gaap:FiduciaryAndTrustMember2023-01-012023-03-310000090498sfnc:MortgageLoansMember2024-01-012024-03-310000090498sfnc:MortgageLoansMember2023-01-012023-03-310000090498us-gaap:FinancialServiceOtherMember2024-01-012024-03-310000090498us-gaap:FinancialServiceOtherMember2023-01-012023-03-3100000904982022-12-3100000904982023-03-310000090498us-gaap:CommonStockMember2023-12-310000090498us-gaap:AdditionalPaidInCapitalMember2023-12-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000090498us-gaap:RetainedEarningsMember2023-12-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000090498us-gaap:RetainedEarningsMember2024-01-012024-03-310000090498us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000090498us-gaap:CommonStockMember2024-01-012024-03-310000090498us-gaap:CommonStockMember2024-03-310000090498us-gaap:AdditionalPaidInCapitalMember2024-03-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000090498us-gaap:RetainedEarningsMember2024-03-310000090498us-gaap:CommonStockMember2022-12-310000090498us-gaap:AdditionalPaidInCapitalMember2022-12-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000090498us-gaap:RetainedEarningsMember2022-12-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000090498us-gaap:RetainedEarningsMember2023-01-012023-03-310000090498us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000090498us-gaap:CommonStockMember2023-01-012023-03-310000090498us-gaap:CommonStockMember2023-03-310000090498us-gaap:AdditionalPaidInCapitalMember2023-03-310000090498us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000090498us-gaap:RetainedEarningsMember2023-03-31sfnc:center0000090498sfnc:SpiritOfTexasBancsharesIncMember2022-04-082022-04-080000090498sfnc:SpiritOfTexasBancsharesIncMember2021-11-19sfnc:branch0000090498sfnc:SpiritOfTexasBancsharesIncMember2021-11-202021-11-200000090498sfnc:FairValueAdjustmentsMembersfnc:SpiritOfTexasBancsharesIncMember2021-11-200000090498sfnc:SpiritOfTexasBancsharesIncMember2021-11-200000090498sfnc:SpiritOfTexasBancsharesIncMembersfnc:CoreDepositPremiumMember2021-11-190000090498sfnc:FairValueAdjustmentsMembersfnc:SpiritOfTexasBancsharesIncMembersfnc:CoreDepositPremiumMember2021-11-200000090498sfnc:SpiritOfTexasBancsharesIncMembersfnc:CoreDepositPremiumMember2021-11-2000000904982022-04-012022-06-3000000904982021-07-012021-09-300000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498sfnc:OtherSecuritiesMember2024-03-310000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000090498sfnc:OtherSecuritiesMember2023-12-310000090498us-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000090498us-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000090498us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000090498us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000090498us-gaap:USTreasurySecuritiesMember2024-03-310000090498us-gaap:USTreasurySecuritiesMember2023-12-31xbrli:pure0000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2024-01-012024-03-310000090498sfnc:OtherSecuritiesMember2024-01-012024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000090498sfnc:OtherSecuritiesMember2022-12-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-03-310000090498sfnc:OtherSecuritiesMember2023-01-012023-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310000090498sfnc:OtherSecuritiesMember2023-03-310000090498us-gaap:BondsMember2023-01-012023-03-31sfnc:bond0000090498sfnc:NotGuaranteedorPreRefundedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondAaaAAARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:OtherCreditEnhancementorInsuranceMembersfnc:BondAaaAAARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMembersfnc:BondAaaAAARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondAaaAAARatingMember2024-03-310000090498sfnc:OtherSecuritiesMembersfnc:BondAaaAAARatingMember2024-03-310000090498sfnc:NotGuaranteedorPreRefundedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondAaAARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondAaAARatingMembersfnc:OtherCreditEnhancementorInsuranceMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMembersfnc:BondAaAARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondAaAARatingMember2024-03-310000090498sfnc:OtherSecuritiesMembersfnc:BondAaAARatingMember2024-03-310000090498sfnc:NotGuaranteedorPreRefundedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondARatingMembersfnc:OtherCreditEnhancementorInsuranceMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMembersfnc:BondARatingMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondARatingMember2024-03-310000090498sfnc:OtherSecuritiesMembersfnc:BondARatingMember2024-03-310000090498sfnc:NotGuaranteedorPreRefundedMembersfnc:BondBaaBBBRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498sfnc:BondBaaBBBRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:OtherCreditEnhancementorInsuranceMember2024-03-310000090498sfnc:BondBaaBBBRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMember2024-03-310000090498sfnc:BondBaaBBBRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498sfnc:BondBaaBBBRatingMembersfnc:OtherSecuritiesMember2024-03-310000090498sfnc:NotGuaranteedorPreRefundedMemberus-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondNotRatedMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondNotRatedMembersfnc:OtherCreditEnhancementorInsuranceMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMembersfnc:BondNotRatedMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:BondNotRatedMember2024-03-310000090498sfnc:OtherSecuritiesMembersfnc:BondNotRatedMember2024-03-310000090498sfnc:NotGuaranteedorPreRefundedMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:OtherCreditEnhancementorInsuranceMember2024-03-310000090498us-gaap:USStatesAndPoliticalSubdivisionsMembersfnc:PreRefundedMember2024-03-310000090498sfnc:SecuritiesHeldToMaturityMember2024-01-012024-03-310000090498sfnc:SecuritiesHeldToMaturityMember2023-01-012023-03-310000090498sfnc:SecuritiesAvailableForSaleMember2024-01-012024-03-310000090498sfnc:SecuritiesAvailableForSaleMember2023-01-012023-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:UnallocatedFinancingReceivablesMember2024-03-310000090498us-gaap:UnallocatedFinancingReceivablesMember2023-12-3100000904982023-01-012023-12-310000090498srt:MinimumMember2024-01-012024-03-310000090498srt:MaximumMember2024-01-012024-03-310000090498sfnc:PaycheckProtectionProgramLoansMember2024-03-310000090498sfnc:PaycheckProtectionProgramLoansMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersrt:SingleFamilyMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2024-03-310000090498us-gaap:UnallocatedFinancingReceivablesMemberus-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2024-03-310000090498sfnc:FinancingReceivables30To89DaysPastDueMember2024-03-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000090498us-gaap:FinancialAssetPastDueMember2024-03-310000090498us-gaap:FinancialAssetNotPastDueMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:ConstructionLoansMemberus-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersrt:SingleFamilyMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:CommercialPortfolioSegmentMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2023-12-310000090498us-gaap:UnallocatedFinancingReceivablesMemberus-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2023-12-310000090498sfnc:FinancingReceivables30To89DaysPastDueMember2023-12-310000090498us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000090498us-gaap:FinancialAssetPastDueMember2023-12-310000090498us-gaap:FinancialAssetNotPastDueMember2023-12-31sfnc:loan0000090498us-gaap:ResidentialRealEstateMember2024-03-310000090498us-gaap:ResidentialRealEstateMember2023-12-310000090498us-gaap:RealEstateAcquiredInSatisfactionOfDebtMemberus-gaap:ResidentialRealEstateMember2024-03-310000090498us-gaap:RealEstateAcquiredInSatisfactionOfDebtMemberus-gaap:ResidentialRealEstateMember2023-12-310000090498sfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-03-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-01-012024-03-310000090498sfnc:OtherConsumerLoansMembersfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-03-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:PassMember2024-03-310000090498us-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498us-gaap:ConstructionLoansMemberus-gaap:SubstandardMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:CriticizedMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:CriticizedMember2024-01-012024-03-310000090498sfnc:FinancialAsset30to89DaysPastDueMembersfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-01-012024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:PassMembersfnc:OtherCommercialLoansMember2024-03-310000090498us-gaap:SpecialMentionMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2024-03-310000090498us-gaap:SubstandardMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:CriticizedMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:CriticizedMember2024-01-012024-03-310000090498sfnc:CommercialLoansMemberus-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:SpecialMentionMembersfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:DoubtfulMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2024-01-012024-03-310000090498us-gaap:PassMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:SpecialMentionMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:SubstandardMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:DoubtfulMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2024-03-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2024-01-012024-03-310000090498sfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2024-03-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-03-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2024-01-012024-03-310000090498sfnc:CriticizedAndPastDueMember2024-03-310000090498sfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-12-310000090498us-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-01-012023-12-310000090498sfnc:OtherConsumerLoansMembersfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-12-310000090498sfnc:OtherConsumerLoansMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:PassMember2023-12-310000090498us-gaap:SpecialMentionMemberus-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498us-gaap:ConstructionLoansMemberus-gaap:SubstandardMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:CriticizedMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:CriticizedMember2023-01-012023-12-310000090498sfnc:FinancialAsset30to89DaysPastDueMembersfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-01-012023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:PassMembersfnc:OtherCommercialLoansMember2023-12-310000090498us-gaap:SpecialMentionMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2023-12-310000090498us-gaap:SubstandardMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMemberus-gaap:DoubtfulMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:CriticizedMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:CriticizedMember2023-01-012023-12-310000090498sfnc:CommercialLoansMemberus-gaap:PassMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:SpecialMentionMembersfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:DoubtfulMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2023-01-012023-12-310000090498us-gaap:PassMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:SpecialMentionMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:SubstandardMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:DoubtfulMembersfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2023-12-310000090498sfnc:AgriculturalLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:CriticizedMember2023-01-012023-12-310000090498sfnc:FinancialAsset30to89DaysPastDueMemberus-gaap:UnallocatedFinancingReceivablesMember2023-12-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-12-310000090498us-gaap:UnallocatedFinancingReceivablesMembersfnc:FinancingReceivablesEqualToGreaterThan30DaysPastDueMember2023-01-012023-12-310000090498sfnc:CriticizedAndPastDueMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:RealEstateMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMemberus-gaap:RealEstateMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMembersrt:SingleFamilyMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:RealEstateMember2024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMembersfnc:OtherCommercialLoansMember2024-03-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateMember2024-03-310000090498sfnc:CommercialLoansMembersfnc:OtherBusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498us-gaap:RealEstateMember2024-03-310000090498sfnc:OtherBusinessAssetsMember2024-03-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMemberus-gaap:RealEstateMember2023-12-310000090498us-gaap:ConstructionLoansMembersfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersrt:SingleFamilyMemberus-gaap:RealEstateMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMembersrt:SingleFamilyMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherCommercialLoansMemberus-gaap:RealEstateMember2023-12-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:OtherBusinessAssetsMembersfnc:OtherCommercialLoansMember2023-12-310000090498sfnc:CommercialLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateMember2023-12-310000090498sfnc:CommercialLoansMembersfnc:OtherBusinessAssetsMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498us-gaap:RealEstateMember2023-12-310000090498sfnc:OtherBusinessAssetsMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMember2023-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2024-01-012024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-01-012024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2024-01-012024-03-310000090498sfnc:LoansExcludingAcquiredLoansMember2024-01-012024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2024-03-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2024-03-310000090498sfnc:LoansExcludingAcquiredLoansMember2024-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2022-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2022-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2022-12-310000090498sfnc:LoansExcludingAcquiredLoansMember2022-12-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-03-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2023-01-012023-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-01-012023-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2023-01-012023-03-310000090498sfnc:LoansExcludingAcquiredLoansMember2023-01-012023-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:CommercialPortfolioSegmentMember2023-03-310000090498sfnc:LoansExcludingAcquiredLoansMembersfnc:RealEstatePortfolioSegmentMember2023-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:CreditCardReceivablesMember2023-03-310000090498sfnc:LoansExcludingAcquiredLoansMemberus-gaap:ConsumerPortfolioSegmentMembersfnc:OtherLoansMember2023-03-310000090498sfnc:LoansExcludingAcquiredLoansMember2023-03-310000090498us-gaap:UnfundedLoanCommitmentMember2024-03-310000090498us-gaap:UnfundedLoanCommitmentMember2023-12-310000090498us-gaap:UnfundedLoanCommitmentMember2024-01-012024-03-310000090498us-gaap:UnfundedLoanCommitmentMember2023-01-012023-03-310000090498sfnc:SpiritOfTexasBancsharesIncMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-03-310000090498sfnc:RealEstatePortfolioSegmentMembersfnc:SpiritOfTexasBancsharesIncMember2024-01-012024-03-310000090498sfnc:SpiritOfTexasBancsharesIncMemberus-gaap:CreditCardReceivablesMember2024-01-012024-03-310000090498sfnc:SpiritOfTexasBancsharesIncMembersfnc:OtherConsumerLoansMember2024-01-012024-03-310000090498sfnc:SpiritOfTexasBancsharesIncMember2024-01-012024-03-310000090498us-gaap:LandMember2024-03-310000090498us-gaap:LandMember2023-12-310000090498us-gaap:BuildingAndBuildingImprovementsMember2024-03-310000090498us-gaap:BuildingAndBuildingImprovementsMember2023-12-310000090498us-gaap:FurnitureAndFixturesMember2024-03-310000090498us-gaap:FurnitureAndFixturesMember2023-12-310000090498sfnc:SoftwareMember2024-03-310000090498sfnc:SoftwareMember2023-12-310000090498us-gaap:ConstructionInProgressMember2024-03-310000090498us-gaap:ConstructionInProgressMember2023-12-310000090498sfnc:CoreDepositPremiumMembersrt:MinimumMember2024-03-310000090498srt:MaximumMembersfnc:CoreDepositPremiumMember2024-03-310000090498srt:MinimumMember2024-03-310000090498srt:MaximumMember2024-03-310000090498sfnc:CoreDepositPremiumMember2023-12-310000090498sfnc:CoreDepositPremiumMember2022-12-310000090498sfnc:CoreDepositPremiumMember2024-01-012024-03-310000090498sfnc:CoreDepositPremiumMember2023-01-012023-12-310000090498sfnc:CoreDepositPremiumMember2024-03-310000090498sfnc:BooksOfBusinessIntangibleMember2023-12-310000090498sfnc:BooksOfBusinessIntangibleMember2022-12-310000090498sfnc:BooksOfBusinessIntangibleMember2024-01-012024-03-310000090498sfnc:BooksOfBusinessIntangibleMember2023-01-012023-12-310000090498sfnc:BooksOfBusinessIntangibleMember2024-03-31sfnc:transaction0000090498sfnc:MetropolitanMember2024-03-310000090498us-gaap:EarliestTaxYearMemberus-gaap:DomesticCountryMember2024-01-012024-03-310000090498us-gaap:StateAndLocalJurisdictionMemberus-gaap:EarliestTaxYearMember2024-01-012024-03-310000090498us-gaap:MaturityOvernightMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:MaturityUpTo30DaysMember2024-03-310000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:Maturity30To90DaysMember2024-03-310000090498us-gaap:MaturityOver90DaysMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:MaturityOvernightMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:MaturityUpTo30DaysMember2023-12-310000090498us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:Maturity30To90DaysMember2023-12-310000090498us-gaap:MaturityOver90DaysMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498srt:MinimumMemberus-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000090498srt:MaximumMemberus-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000090498us-gaap:FederalHomeLoanBankAdvancesMember2024-03-310000090498us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310000090498sfnc:OtherLongTermDebtMember2024-03-310000090498sfnc:OtherLongTermDebtMember2023-12-310000090498sfnc:FederalHomeLoanBankAdvanceandOtherLongTermDebtMember2024-03-310000090498sfnc:FederalHomeLoanBankAdvanceandOtherLongTermDebtMember2023-12-310000090498us-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue04012028Member2024-03-310000090498sfnc:LondonInterbankOfferedRateLIBOR1Memberus-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue04012028Member2024-01-012024-03-310000090498us-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue04012028Member2023-12-310000090498us-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue07312030Member2024-03-310000090498us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue07312030Member2024-01-012024-03-310000090498us-gaap:SubordinatedDebtMembersfnc:SubordinatedNotesPayableDue07312030Member2023-12-310000090498sfnc:SubordinatedDebtandUnsecuredDebtMember2024-03-310000090498sfnc:SubordinatedDebtandUnsecuredDebtMember2023-12-310000090498us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMember2024-01-012024-03-310000090498us-gaap:SubordinatedDebtMember2018-03-310000090498us-gaap:SubordinatedDebtMembersfnc:LondonInterbankOfferedRateLIBOR1Member2023-04-012024-03-310000090498us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMember2023-04-012024-03-310000090498us-gaap:SubordinatedDebtMembersfnc:SpiritOfTexasBancsharesIncMembersfnc:SubordinatedNotesPayableDue07312030Member2022-04-300000090498us-gaap:SubordinatedDebtMembersfnc:SpiritOfTexasBancsharesIncMembersfnc:SubordinatedNotesPayableDue07312030Member2024-03-310000090498us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:SubordinatedDebtMembersfnc:SpiritOfTexasBancsharesIncMembersfnc:SubordinatedNotesPayableDue07312030Member2024-01-012024-03-3100000904982009-02-2700000904982022-04-270000090498us-gaap:CommonClassAMember2022-04-260000090498us-gaap:CommonClassAMember2022-04-270000090498sfnc:RelianceBancsharesInc.Memberus-gaap:SeriesDPreferredStockMember2019-10-290000090498us-gaap:CommonClassAMembersfnc:A2022ShareRepurchaseProgramMember2022-01-310000090498sfnc:A2024ShareRepurchaseProgramMemberus-gaap:CommonClassAMember2024-01-310000090498us-gaap:RestrictedStockMember2023-12-310000090498sfnc:StockUnitsMember2023-12-310000090498us-gaap:RestrictedStockMember2024-01-012024-03-310000090498sfnc:StockUnitsMember2024-01-012024-03-310000090498us-gaap:RestrictedStockMember2024-03-310000090498sfnc:StockUnitsMember2024-03-310000090498sfnc:Range01Member2024-01-012024-03-310000090498sfnc:Range01Member2024-03-310000090498sfnc:Range02Member2024-01-012024-03-310000090498sfnc:Range02Member2024-03-310000090498sfnc:Range03Member2024-01-012024-03-310000090498sfnc:Range03Member2024-03-310000090498sfnc:Range04Member2024-01-012024-03-310000090498sfnc:Range04Member2024-03-310000090498sfnc:Range05Member2024-01-012024-03-310000090498sfnc:Range05Member2024-03-310000090498us-gaap:RestrictedStockUnitsRSUMember2023-12-310000090498us-gaap:RestrictedStockUnitsRSUMember2024-01-012024-03-310000090498us-gaap:RestrictedStockUnitsRSUMember2024-03-310000090498us-gaap:EmployeeStockOptionMember2024-01-012024-03-310000090498us-gaap:EmployeeStockOptionMember2023-01-012023-03-310000090498sfnc:TransfersofLoanstoForeclosedAssetsHeldforSaleMember2024-01-012024-03-310000090498sfnc:TransfersofLoanstoForeclosedAssetsHeldforSaleMember2023-01-012023-03-310000090498sfnc:CreditCardCommitmentsToExtendCreditMember2024-03-310000090498sfnc:OtherLoanCommitmentsToExtendCreditMember2024-03-310000090498sfnc:CreditCardCommitmentsToExtendCreditMember2023-12-310000090498sfnc:OtherLoanCommitmentsToExtendCreditMember2023-12-310000090498sfnc:FixedRateMortgageLoansMember2024-03-310000090498sfnc:FixedRateMortgageLoansMember2023-12-310000090498us-gaap:StandbyLettersOfCreditMember2024-03-310000090498us-gaap:StandbyLettersOfCreditMember2023-12-310000090498us-gaap:StandbyLettersOfCreditMembersrt:MinimumMember2023-01-012023-12-310000090498us-gaap:StandbyLettersOfCreditMembersrt:MinimumMember2024-01-012024-03-310000090498srt:MaximumMemberus-gaap:StandbyLettersOfCreditMember2023-01-012023-12-310000090498srt:MaximumMemberus-gaap:StandbyLettersOfCreditMember2024-01-012024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMemberus-gaap:FairValueInputsLevel3Member2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:USTreasurySecuritiesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel3Member2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMembersfnc:OtherSecuritiesMemberus-gaap:FairValueInputsLevel3Member2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000090498us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000090498us-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000090498us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2024-03-310000090498us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000090498us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2023-12-310000090498us-gaap:CollateralPledgedMember2024-03-310000090498us-gaap:CollateralPledgedMember2023-12-310000090498us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:LegacyLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel1Membersfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel2Membersfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:LegacyLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:NonInterestBearingTransactionAccountsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel1Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel2Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel3Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000090498sfnc:TimeDepositsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2024-03-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2024-03-310000090498us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2024-03-310000090498us-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2024-03-310000090498us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:LegacyLoansMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel1Membersfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel2Membersfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:LegacyLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:LegacyLoansMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:NonInterestBearingTransactionAccountsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel1Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel2Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel3Membersfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:NonInterestBearingTransactionAccountsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:InterestBearingTransactionAccountsAndSavingsDepositsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000090498sfnc:TimeDepositsMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000090498us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2023-12-310000090498us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2023-12-310000090498us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2023-12-310000090498us-gaap:EstimateOfFairValueFairValueDisclosureMembersfnc:TimeDepositsMember2023-12-310000090498us-gaap:FairValueHedgingMember2024-03-310000090498us-gaap:FairValueHedgingMember2024-01-012024-03-310000090498us-gaap:FairValueHedgingMember2023-12-310000090498us-gaap:InterestRateSwapMember2024-03-310000090498us-gaap:InterestRateSwapMember2023-12-310000090498sfnc:RiskParticipationAgreementsMember2024-03-310000090498us-gaap:EnergyRelatedDerivativeMember2024-03-31

Washington, D.C.  20549

 

For the quarterly period ended March 31, 2024

For the transition period from _____ to _____

 Commission File Number 000-06253

(Exact name of registrant as specified in its charter)

(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:

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.

 

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 May 2, 2024, was 125,483,442.

___________________

*    No reportable information under this item.

Three Months Ended March 31, 2024 and 2023

 

 

(Unaudited)

 

 

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 233 financial centers as of March 31, 2024, located throughout market areas in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

 

 

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, 2023, 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, 2023, which was filed with the SEC on February 27, 2024.

 

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.

Investment-Income Taxes - In March 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-02, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (“ASU 2023-02”), that introduced the option to apply the proportional amortization method to account for investments made primarily for the purpose of receiving income tax credits and other income tax benefits when certain requirements are met. The proportional amortization method results in the cost of the investment being amortized in proportion to the income tax credits and other income tax benefits received, with the amortization of the investment and the income tax credits being presented net in the income statement as a component of income tax expense (benefit). ASU 2023-02 was effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 31, 2023, with early adoption permitted. The Company elected to early adopt ASU 2023-02 and apply the proportional amortization method for all income tax credits during the first quarter of 2023 by utilizing the modified retrospective method. The adoption of ASU 2023-02 did not have a material impact on the Company’s results of operations, financial position or disclosures.

Credit Losses on Financial Instruments - In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”), which eliminated the accounting guidance on troubled debt restructurings (“TDRs”) for creditors in Accounting Standards Codification (“ASC”) Topic 310-40 and amended the guidance on “vintage disclosures” to require disclosure of current-period gross write-offs by year of origination. The ASU also updated the requirements related to accounting for credit losses under ASC 326 and added enhanced disclosures for creditors with respect to loan refinancings and restructurings made to borrowers experiencing financial difficulty. ASU 2022-02 was effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2022-02 effective January 1, 2023 on a prospective basis. The adoption of ASU 2022-02 did not have a material impact on the Company’s results of operations or financial position. See Note 4, Loans and Allowance for Credit Losses, for additional information.

Fair Value Hedging - In March 2022, the FASB issued ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layer Method (“ASU 2022-01”), which clarified the guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. This ASU amended the guidance in ASU 2017-12 that, among other things, established the “last-of-layer” method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renamed that method the “portfolio layer” method and expanded the scope of the guidance to allow entities to apply the portfolio layer method to portfolios of all financial assets, including both prepayable and nonprepayable financial assets. The scope expansion is consistent with the FASB’s efforts to simplify hedge accounting and allowed entities to apply the same method to similar hedging strategies. ASU 2022-01 was effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The adoption of 2022-01 did not have a material impact on the Company’s results of operations, financial position or disclosures.

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 has not had 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 could 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 will no longer be permitted to apply the relief in Topic 848.

Stock Compensation - In March 2024, the FASB issued 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 adds 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 is 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 is not expected to 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 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted. The Company will complete an evaluation of the impact this standard will have on its results of 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 expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments in this update introduce 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 is 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 is not expected to have a material impact on the Company’s 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, 2023. 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.

On April 8, 2022, the Company completed its merger with Spirit of Texas Bancshares, Inc. (“Spirit”) pursuant to the terms of the Agreement and Plan of Merger dated as of November 18, 2021 (“Spirit Agreement”), at which time Spirit merged with and into the Company, with the Company continuing as the surviving corporation. The Company issued 18,275,074 shares of its common stock valued at approximately $464.9 million as of April 8, 2022, plus $1,393,508.90 in cash, in exchange for all outstanding shares of Spirit capital stock (and common stock equivalents) to effect the merger.

Prior to the acquisition, Spirit, headquartered in Conroe, Texas, conducted banking business through its subsidiary bank, Spirit of Texas Bank SSB, from 35 branches located primarily in the Texas Triangle - consisting of Dallas-Fort Worth, Houston, San Antonio and Austin metropolitan areas - with additional locations in the Bryan-College Station, Corpus Christi and Tyler metropolitan areas, along with offices in North Central and South Texas. Including the effects of the acquisition method accounting adjustments, the Company acquired approximately $3.11 billion in assets, including approximately $2.29 billion in loans (inclusive of loan discounts), and approximately $2.72 billion in deposits.

Goodwill of $174.1 million was recorded as a result of the transaction. The merger strengthened the Company’s position in the Texas market and brought forth additional opportunities in the Company’s current footprint, which gave rise to the goodwill recorded. The goodwill will not be deductible for tax purposes.

A summary, at fair value, of the assets acquired and liabilities assumed in the Spirit acquisition, as of the acquisition date, is as follows:

During 2023, the Company finalized its analysis of the loans acquired along with other acquired assets and assumed liabilities related to the Spirit acquisition.

The Company’s operating results include the operating results of the acquired assets and assumed liabilities of Spirit subsequent to the acquisition date.

The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the acquisition above.

 

Cash and due from banks – The carrying amount of these assets is a reasonable estimate of fair value based on the short-term nature of these assets.

 

Investment securities – Investment securities were acquired with an adjustment to fair value based upon quoted market prices if material. Otherwise, the carrying amount of these assets was deemed to be a reasonable estimate of fair value.

 

Loans acquired – Fair values for loans were based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan and whether or not the loan was amortizing, and current discount rates. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns. The discount rate does not include a factor for credit losses as that has been included in the estimated cash flows. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. See Note 4, Loans and Allowance for Credit Losses, in the accompanying Notes to Consolidated Financial Statements for additional information related to purchased financial assets with credit deterioration.

Premises and equipment – Bank premises and equipment were acquired with an adjustment to fair value, which represents the difference between the Company’s current analysis of property and equipment values completed in connection with the acquisition and book value acquired.

 

Bank owned life insurance – Bank owned life insurance is carried at its current cash surrender value, which is the most reasonable estimate of fair value. 

Goodwill – The consideration paid as a result of the acquisition exceeded the fair value of the assets acquired, resulting in an intangible asset, goodwill. Goodwill established prior to the acquisitions, if applicable, was written off.

 

Core deposit intangible – This intangible asset represents the value of the relationships that the acquired banks had with their deposit customers. The fair value of this intangible asset was estimated based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition rates, cost of the deposit base and the net maintenance cost attributable to customer deposits. Any core deposit intangible established prior to the acquisitions, if applicable, was written off.

 

Other assets – The fair value adjustment results from certain assets whose value was estimated to be more or less than book value, such as certain prepaid assets, receivables and other miscellaneous assets. Otherwise, the carrying amount of these assets was deemed to be a reasonable estimate of fair value.

 

Deposits – The fair values used for the demand and savings deposits that comprise the transaction accounts acquired, by definition equal the amount payable on demand at the acquisition date. The Company performed a fair value analysis of the estimated weighted average interest rate of the certificates of deposits compared to the current market rates and recorded a fair value adjustment for the difference when material.

 

Other borrowings – The fair value of other borrowings is estimated based on borrowing rates currently available to the Company for borrowings with similar terms and maturities.

 

Subordinated debentures – The fair value of subordinated debentures is estimated based on borrowing rates currently available to the Company for borrowings with similar terms and maturities.

 

Accrued interest and other liabilities – The fair value adjustment results from certain liabilities whose value was estimated to be more or less than book value, such as certain accounts payable and other miscellaneous liabilities. The adjustment also establishes a liability for unfunded commitments equal to the fair value of that liability at the date of acquisition. The carrying amount of accrued interest and the remainder of other liabilities was deemed to be a reasonable estimate of fair value.

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.

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. As of March 31, 2024, the related remaining combined net unrealized losses of $121.9 million in accumulated other comprehensive income (loss) will be amortized over the remaining life of the securities. No gains or losses on these securities were recognized at the time of transfer.

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

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 March 31, 2024, HTM MBS consists of $140.6 million and $1.00 billion of commercial MBS and residential MBS, respectively. As of December 31, 2023, HTM MBS consists of $141.6 million and $1.02 billion 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: