Bank of the Ozarks to Acquire Summit Bank

Bank of the Ozarks to Acquire Summit Bank

Deal reported to be worth $216 million.
LITTLE ROCK, AR - Little Rock-based Bank of the Ozarks announced Thursday that it has entered into a definitive agreement and plan of merger with Summit Bancorp, Inc. and its wholly-owned bank subsidiary Summit Bank.

Bank of the Ozarks will acquire the Arkadelphia-based bank for $216 million.

Summit Bank operates 23 banking offices and one loan production office in nine Arkansas counties. At December 31, 2013, Summit Bank had approximately $1.2 billion of total assets, $778 million of loans and $994 million of deposits.

Click here to keep reading this story from our contact partner Talk Business.

Page: [[$index + 1]]
comments powered by Disqus