Simmons First Trust Co. said Friday that it has agreed to purchase Talbot Capital Management Inc. of Pine Bluff for an undisclosed price.
Simmons First Trust is part of publicly traded Simmons First National Corp. of Pine Bluff. The definitive asset purchase agreement will also reunite George Talbot Jr. with Simmons, where he worked for 15 years before forming Talbot Capital in 1989.
“We are pleased to welcome George Talbot back to the Simmons First Trust Company family and we look forward to the opportunity to serve the clients of Talbot Capital Management and provide them the same level of personal service that they have come to expect,” said Simmons First Trust President Joe W. Clement III.
“I am excited about the opportunity to rejoin the Simmons First Trust Company during this time of growth and expansion of the Simmons First franchise,” Talbot said. “I believe that this is an incredible opportunity not only for me, but also for the clients of Talbot Capital Management. The Simmons First core value of personal customer service is one of the same values that I modeled my business after in 1989.”
Since 1989, Talbot Capital has grown to manage more than $45 million in assets for individuals, endowment funds, foundations and profit-sharing plans.
Talbot, who graduated from Vanderbilt University worked for a regional brokerage firm in Little Rock for seven years before returning home to Pine Bluff to join the trust department of Simmons Bank. He worked there for 15 years before to forming Talbot Capital Management.
Simmons First Trust Company N.A. manages more than $2 billion in assets. Simmons First National Corp. is a financial holding company with total assets of $4.8 billion, conducting financial operations throughout Arkansas, Kansas and Missouri.
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