Sale of Bald Knob Bank Completed

by Gwen Moritz  on Wednesday, Feb. 26, 2014 11:18 am  

Southern Missouri Bancorp Inc. of Poplar Bluff has announced that it completed its acquisition of Citizens State Bankshares of Bald Knob Inc. on Friday.

The $5.9 million deal was first announced in November. Citizens State Bankshares is the holding company of Citizens State Bank, which had three branches in Bald Knob and Bradford.

Southern Missouri is the publicly traded parent of Southern Bank, which entered Arkansas by acquiring Southern Bank of Commerce in Paragould in 2009 and the remains of First Southern Bank of Batesville in an FDIC-assisted deal in 2010.

Including the $70 million in assets of Citizens State Bank, Southern Bank's assets are about $1 billion. But that is expected to climb by another $275 million with the announcement Wednesday of yet another acquisition: a $22.9 million deal to buy Peoples Service Co., which owns controlling interest in Peoples Bank of the Ozarks, a 10-branch bank operating in southwest Missouri.



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