Simmons Announces Completion of First South Bank Merger

by Arkansas Business Staff  on Tuesday, Sep. 5, 2017 10:28 am   1 min read

Simmons First National Corp. of Pine Bluff announced Tuesday that it has completed the merger of First South Bank of Jackson, Tennessee, with its subsidiary, Simmons Bank.

Simmons First acquired Hardeman County Investment Co. Inc. of Jackson, Tennessee, and its wholly owned bank subsidiary, First South Bank, in May in a transaction that was valued at $72.2 million. Simmons first announced the deal in November.

"Together with First South Bank, we offer increased regional size and strength, a more sophisticated product mix, and opportunities for our customers, associates and communities that wouldn’t be possible separately," Simmons First CEO and Chairman George Makris Jr. said in a news release. 

Simmons has about $9.1 billion in assets, $6.2 billion in loans, $7.1 billion in deposits, 2,000 employees and more than 150 branches in Arkansas, Kansas, Missouri and Tennessee.

"This conversion was the culmination of countless hours spent by an outstanding group of associates dedicated to not only making this transition possible but also making it a success," Marty Casteel, chairman and CEO of Simmons Bank, said in the release. "It was a team effort that requires the support of our entire organization, and we look forward to serving our expanded presence in western Tennessee."

 

 

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