Simmons First Completes Delta Trust Acquisition

by Arkansas Business Staff  on Tuesday, Sep. 2, 2014 8:43 am  

Simmons First National Corp. of Pine Bluff said Tuesday that it has completed its acquisition of Delta Trust & Banking Corp. of Little Rock.

Simmons, which announced the $66 million deal in March, officially completed it on Sunday.

Simmons said Delta Trust will temporarily remain a separate bank and continue its banking operations as a subsidiary until the systems conversion into Simmons Bank, which is scheduled for completion on Oct. 27.

More: The Simmons and Delta merger was announced in March, but the two began laying groundwork for the deal three years ago.

The acquisition will expand Simmons Bank’s presence in south, central and northwest Arkansas. It will also allow Simmons to provide services it hasn't previously offered, including insurance and securities brokerage services.

"We are excited about the blending of our 110-year history with the 104-year history of Delta Trust, allowing us to enhance the customer experience throughout the markets we serve," George A. Makris, Simmons' chairman and CEO, said in a news release. "This merger is another positive step for our organization and we are confident that it brings additional long-term benefits to our customers, associates, shareholders and the communities we serve."

Simmons First National Corp. has total assets of $4.8 billion. It conducts financial operations throughout ArkansasKansas and Missouri.

 

 

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