Simmons First wins auction to buy Metropolitan National Bank
PINE BLUFF (KATV) - Simmons First National Corporationannounced Monday that it won the auction for Metropolitan NationalBank.
The sale still needs to be approved by the U. S.Bankruptcy Court, which is scheduled to hear the case on Thursday.
Metropolitan is a national bank with $991 million in assets with itsmain office in Little Rock and branches in 14 other communities in the State of Arkansas. Simmons officials plan to combine their operations with those of Simmons First.
A more detailed look at how the banks will move forward will be released Thursday after the bankruptcy court's ruling is released.
Simmons First National Corporation is a $3.6 billionArkansas based financial holding company with eight community banks in Pine Bluff, Lake Village, Jonesboro,Rogers, Searcy, Russellville, El Dorado and Hot Springs.