A Simmons Bank branch in Englewood, Colorado.
Simmons Bank’s exodus from Colorado will conclude with a $9 million transaction.
The Pine Bluff bank is selling three full-service branches in the Denver suburbs. First Western Trust Bank of Denver is buying deposits of $118 million, and the deal is expected to close in the third quarter.
The sale will reduce the Simmons footprint to seven states: Arkansas, Missouri, Tennessee, Texas, Oklahoma, Kansas and Illinois.
The Colorado branches were acquired as part of the $564.4 million cash-stock swap acquisition of Southwest Bancorp Inc. of Stillwater, Oklahoma. The purchase of the $2.6 billion-asset bank holding company closed in October 2017.
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