Southern Bancorp to Acquire $1.9B-Asset Missouri Lender

Darrin Williams, CEO of Southern Bancorp Inc. (Karen E. Segrave)

Southern Bancorp Inc. of Arkadelphia, the holding company for Southern Bancorp Bank, announced an agreement to acquire Ozarks Heritage Financial Group Inc. and its subsidiary Legacy Bank and Trust, a $1.9 billion-asset lender in Springfield, Missouri. 

The deal would grow Southern Bancorp’s total assets to $4.7 billion. It’s expected to close in the fourth quarter of 2025.

Legacy Bank and Trust has nine locations across Missouri, Oklahoma and Texas, with a staff of nearly 200. Like Southern Bancorp, it’s a Community Development Financial Institution, a specialized lender that focuses on providing capital and financial services to underserved communities.

Southern Bancorp currently has 56 locations.

“With the addition of the phenomenal team at Legacy, we look forward to expanding our collective resources – and impact – to even more people and places who can benefit from them,” Southern Bancorp CEO Darrin Williams said.

Legacy Bank and Trust was founded in 1907. Ozarks Heritage Financial Group acquired the lender in 2003.

“Joining a nationally recognized, mission-driven institution like Southern Bancorp represents an exciting new chapter in our journey, one that will expand our reach and deepen our impact,” Chris Harlin, chairman of Ozarks Heritage Financial Group, said in the release.