PINE BLUFF, Ark. (News release) – Simmons First National Corporation, parent company of Simmons Bank (SNB), announced its completed acquisitions of both Southwest Bancorp, Inc. ("OKSB"), headquartered in Stillwater, Oklahoma, and First Texas BHC, Inc. (“First Texas”), headquartered in Fort Worth, Texas.
A definitive agreement to acquire OKSB was previously announced in Dec. 2016, and a definitive agreement to acquire First Texas was announced in Jan. 2017. Shareholders of Simmons, OKSB, and First Texas approved the transactions earlier this month.
“Today marks the beginning of an exciting new chapter for Simmons,” said George A. Makris, Jr., Simmons’ chairman and CEO.
“With the closing of these transactions, Simmons has now expanded its reach into three new banking markets – Texas, Oklahoma, and Colorado – and strengthened its franchise in Kansas. We are pleased to welcome all of the Bank SNB and Southwest Bank customers and associates to the Simmons family. We have always believed that our unwavering commitment to excellent customer service is what sets us apart, and I have no doubt that our new partners share that same conviction.”
With the completion of these purchases, Simmons has over $14 billion in assets, approximately $10.4 billion in loans, approximately $11.2 billion in deposits, and locations across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee, and Texas.
Both SNB and Southwest Bank will continue operations as separate bank subsidiaries of Simmons for an interim period until they are merged into Simmons Bank. Simmons plans on maintaining the Southwest Bank and SNB brands in their respective markets.
“These are both long-awaited transactions, and we could not be happier about the opportunities both banks bring with them,” said Marty Casteel, president of Simmons Bank. “Both Bank SNB and Southwest Bank customers can rest assured that we will do everything in our power to ensure a seamless transition. In the meantime, customers should continue their banking practices as usual.”
Simmons is a financial holding company, headquartered in Pine Bluff, Ark., with total assets of more than $14 billion. The company, directly and through its subsidiaries, offers comprehensive financial solutions delivered with a client-centric approach throughout Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee, and Texas.
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