Update: Simmons First, Arvest Submit Bids for Metropolitan National Bank

Simmons First National Corp. of Pine Bluff and Arvest Bank of Fayetteville are submitting bids to acquire Metropolitan National Bank of Little Rock, according to legal notices and documents filed this week. Simmons First has submitted a bid of at least $16.9 million to acquire Metropolitan National Bank of Little Rock, the minimum required to overbid the "stalking horse" bidder, Ford Financial Fund II of Dallas, the according to a document filed Wednesday with the U.S. Securties & Exchange Commission.

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