SIMMONS FIRST NATIONAL CORP
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
SFNC$23.68-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
Nine Months Ended September 30, 2024 and 2023
| (In thousands) | September 30, 2024 | September 30, 2023 |
|---|---|---|
| (Unaudited) | (Unaudited) | |
| OPERATING ACTIVITIES | ||
| Net income | $104,374 | $151,150 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 34,863 | 35,933 |
| Provision for credit losses | 33,453 | 31,999 |
| Loss on sale of investments | 28,393 | 391 |
| Net amortization of investment securities and assets | 13,104 | 10,647 |
| Net amortization on borrowings | 114 | 114 |
| Stock-based compensation expense | 8,867 | 9,617 |
| Loss (gain) on sale of foreclosed assets and other real estate owned | (911) | (193) |
| Gain on sale of mortgage loans held for sale | (6,705) | (5,711) |
| Loss on sale of loans | 234 | — |
| Deferred income taxes | (3,254) | 4,202 |
| Income from bank owned life insurance | (11,798) | (9,811) |
| Originations of mortgage loans held for sale | (73,582) | (207,822) |
| Proceeds from sale of mortgage loans held for sale | 81,390 | 205,329 |
| Changes in assets and liabilities: | ||
| Interest receivable | (3,270) | (7,469) |
| Other assets | 65,650 | (99,325) |
| Accrued interest and other liabilities | 74,820 | 5,115 |
| Income taxes payable | (2,683) | (3,730) |
| Net cash provided by operating activities | 343,059 | 120,436 |
| INVESTING ACTIVITIES | ||
| Net change in loans | (519,391) | (709,735) |
| Proceeds from sale of loans | 6,099 | 69,760 |
| Net change in due from banks - time | — | 695 |
| Purchases of premises and equipment, net | (34,935) | (26,556) |
| Proceeds from sale of foreclosed assets and other real estate owned | 5,100 | 1,867 |
| Proceeds from sale of available-for-sale securities | 251,517 | — |
| Proceeds from maturities of available-for-sale securities | 205,164 | 494,388 |
| Purchases of available-for-sale securities | — | (2,286) |
| Proceeds from maturities of held-to-maturity securities | 62,460 | 65,786 |
| Purchases of held-to-maturity securities | (1,000) | (62,885) |
| Surrender of bank owned life insurance | 2,201 | — |
| Proceeds from bank owned life insurance death benefits | 1,376 | 3,686 |
| Net cash used in investing activities | (21,409) | (165,280) |
| FINANCING ACTIVITIES | ||
| Net change in deposits | (309,544) | (316,514) |
| Proceeds from issuance of other borrowed funds | 2,650,000 | 3,125,000 |
| Repayments of other borrowed funds | (2,576,488) | (2,636,441) |
| Dividends paid on common stock | (79,055) | (75,926) |
| Net change in federal funds purchased and securities sold under agreements to repurchase | (16,898) | (85,921) |
| Net shares cancelled under stock compensation plans | (1,325) | (2,662) |
| Shares issued under employee stock purchase plan | 970 | 833 |
| Repurchases of common stock | — | (39,999) |
| Net cash (used in) provided by financing activities | (332,340) | (31,630) |
| (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (10,690) | (76,474) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 614,092 | 682,122 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $603,402 | $605,648 |
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