Update: Bank of the Ozarks to Buy Summit Bancorp for $216M

by George Waldon and Lance Turner  on Thursday, Jan. 30, 2014 4:51 pm  

Bank of the Ozarks Inc. of Little Rock announces a $216 million deal to buy Summit Bancorp Inc. of Arkadelphia, continuing a streak of Arkansas bank mergers that began last year. The deal will also be the second big bank transaction for Summit CEO Ross Whipple, who sold Horizon Bancorp Inc. in 1998 for 3.2 times book value.

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