Transactions With Related Parties

12 Months Ended

Dec. 31, 2020

TRANSACTIONS WITH RELATED PARTIES

At December 31, 2020 and 2019, 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 $6.5 million at December 31, 2020 and $20.1 million at December 31, 2019.


(In thousands)	2020		2019
Balance, beginning of year	$	20,138	$	66,391
New extensions of credit	4,022		2,503
Repayments	(17,624)		(48,756)
Balance, end of year	$	6,536	$	20,138

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.