PINE BLUFF, Ark. (AP) - Pine Bluff-based Simmons First National Corporation has announced plans to donate Delta Trust & Bank in Eudora to Southern Bancorp Bank.
The donation announced Monday depends upon the closing of Simmons First's purchase of Delta Trust & Banking Corporation - which is the parent company of Delta Trust.
Simmons First already has branches in nearby Lake Village and federal regulations limit bank acquisitions in areas where one bank already has a significant market share. The regulation prevents Simmons Frist from operating the Delta Trust branch in Eudora.
Southern Bancorp's parent corporation is Southern Bancorp Inc. headquartered in Arkadelphia. The company was created in 1986 as a community development financial institution to focus on the economic and development needs of rural areas.Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.