Simmons Bank of Pine Bluff has purchased Bank OZK of Little Rock's former headquarters on the city's west side.
Simmons plans to begin moving employees into the building at 17901 Chenal Parkway later this year after replacing signage, renovating the building's interior and getting regulatory approval, the bank said in a news release.
Simmons on Thursday did not disclose the price of the transaction.
The four-story building across from The Promenade at Chenal shopping center has about 90,000 SF of Class A office space. It has a 22,379-SF underground parking area and 4,200 SF on the first floor for a full-service bank branch with four drive-thru lanes.
The building became available after Bank OZK moved into a new 248,000-SF office building at 18000 Cantrell Road last year.
Simmons said it will keep its corporate office in the River Market.
"While Simmons Bank continues to grow and expand the geographic reach of our franchise, the resulting impact is that we have simply outgrown the capacity of our River Market Corporate Office,” bank President and CEO George A. Makris Jr. said in the release.
Simmons made other moves to expand earlier this year. In June, it announced that it's buying two Memphis-area bank companies in separate deals worth a combined $277.9 million.
The deals for Landmark Community Bank of Collierville, Tennessee, and Triumph Bancshares Inc., the parent company of Triumph Bank of Memphis, are expected to close in the fourth quarter.
“The addition of (the west Little Rock building), coupled with our River Market Corporate Office, should allow us to meet our office space needs for the foreseeable future as Simmons continues to grow," Matt Lukas, Simmons' senior vice president of real estate, said in the release.
