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Wed May 28, 2014
Arkansas-Based Simmons First To Buy Liberty Bank
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."
It's the latest in a string of accusitions by Simmons First, which has been growing over the last year.