Transactions With Related Parties

12 Months Ended

Dec. 31, 2022

TRANSACTIONS WITH RELATED PARTIES

At December 31, 2022 and 2021, Simmons Bank had extensions of credit to executive officers and directors and to companies in which Simmons Bank’s executive officers or directors were principal owners in the amount of $3.7 million at December 31, 2022 and $6.2 million at December 31, 2021.


(In thousands)	2022		2021
Balance, beginning of year	$	6,216	$	6,536
New extensions of credit	180		1,487
Repayments	(2,724)		(1,807)
Balance, end of year	$	3,672	$	6,216

In management’s opinion, such loans and other extensions of credit, deposits and vendor contracts (which were not material) were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with unrelated persons or through a competitive bid process. Further, in management’s opinion, these extensions of credit did not involve more than the normal risk of collectability or present other unfavorable features.