The Biggest Deals of 2012: Mergers, Acquisitions in Arkansas Make for a Busy Year

by Jan Cottingham  on Monday, Jan. 21, 2013 12:00 am  

Banking also saw a number of conventional transactions as Arkansas-headquartered enterprises bet on growth. Among these were:

• Bank of the Ozarks' $27.3 million purchase of Genala Banc Inc. in Geneva, Ala.;

• Chambers Bancshares' estimated $21.5 million acquisition of Peterson Holding Co. of Decatur, which included unprofitable Decatur State Bank and a profitable thrift in Grove, Okla.; and

• Arvest's purchase — estimated at $16.3 million — of Union Bank in Kansas City, Mo., and 29 Bank of America branches in Arkansas, Oklahoma, Kansas and Missouri. The price tag on the Bank of America branches has not been disclosed.

Acquisitions of failing banks with assistance of the Federal Deposit Insurance Corp. are not included in the list of the biggest deals, but three of those went down in 2012. Simmons First National Bank of Pine Bluff acquired Truman Bank of St. Louis in September and Excel Bank of Sedalia, Mo., in October. In November, Centennial Bank of Conway acquired Heritage Bank of Florida, based in the northern Tampa suburb of Lutz.

Gwen Moritz contributed to this report.

(Correction, Jan. 21, 2013: The Dec. 31 purchase of Westquip Inc. of Oklahoma City by Hugg & Hall Equipment Co. of Little Rock, a deal valued at $12.1 million, was omitted from the list of the biggest deals of 2012. It has been added to the list and the story has been edited to reflect the additional deal.)

 

 

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