Simmons First National Corporation reported its financial results for the first quarter of 2025, revealing a net income of $32.4 million, or $0.26 per diluted share, a decrease from $38.9 million, or $0.31 per diluted share, in the same period last year. The company's total interest income for the quarter was $307.8 million, down from $322.6 million year-over-year, primarily due to a decline in interest income from loans and investment securities. Interest expense also decreased to $144.4 million from $170.7 million, contributing to a net interest income of $163.4 million, which reflects a slight increase from $151.9 million in the previous quarter.
Total assets as of March 31, 2025, were $26.8 billion, a decrease from $26.9 billion at the end of 2024. The company’s loan portfolio increased to $17.09 billion, up from $17.01 billion, driven by growth in commercial real estate and mortgage warehouse loans. However, total deposits fell to $21.68 billion from $21.89 billion, with a notable decrease in time deposits. The company reported a loan-to-deposit ratio of 79%, indicating a stable liquidity position.
In terms of operational metrics, Simmons First National Corporation's nonperforming loans increased to $152.4 million, representing 0.89% of total loans, compared to 0.65% at the end of 2024. The allowance for credit losses was $252.2 million, or 1.48% of total loans, reflecting a provision for credit losses of $26.8 million during the quarter, which was significantly higher than the $10.2 million provision in the same quarter last year. This increase was attributed to two specific credit relationships that migrated to nonperforming status.
Strategically, the company continues to focus on maintaining a conservative credit culture and disciplined underwriting standards amid economic uncertainties. The management emphasized its commitment to controlling noninterest expenses, which rose to $144.6 million from $139.9 million year-over-year, largely due to increased salaries and employee benefits. Looking ahead, Simmons First National Corporation remains optimistic about its capital and liquidity positions, with all regulatory capital ratios exceeding the "well-capitalized" guidelines, and plans to continue evaluating opportunities for growth and efficiency in its operations.
About SIMMONS FIRST NATIONAL CORP
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