Ark.-based Simmons First to buy Liberty Bank
PINE BLUFF, Ark. (AP) - Pine Bluff-based Simmons First National Corporation has announced that it is buying Springfield, Missouri-based Liberty Bancshares in an all-stock transaction valued at more than $206 million.
The deal is expected to close in the fourth quarter and is subject to approval by shareholders.
Through the end of March, Liberty had assets of $1.1 billion, loans of $811 million and deposits of $885 million.
Simmons First Chairman and CEO George A. Makris says Liberty's expertise in small business lending will enhance commercial offerings.
Liberty Chairman and CEO Gary Metzger called the merger a "win, win, win situation."Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.