Banking

September 2, 2014

Simmons First completes Delta Trust acquisition

The acquisition gives Simmons First eight additional offices in Little Rock, Ark.

The Arkansas holding company of Simmons First National Bank said Tuesday it has completed its acquisition of Delta Trust & Banking Corp., a deal first announced in March.

The deal will give Simmons First eight additional offices in Little Rock.

Pine Bluff-based Simmons First said in a news release that the $431-million-asset bank will operate as a subsidiary until a systems conversion is completed in late October.

Simmons First, which has $4.8 billion in assets and operates two offices in Wichita, earlier valued the deal at $66 million.

It also is in the process of completing two other acquisitions: Springfield, Mo.-based Liberty Bank, with $1.1 billion in assets and 23 offices; and Union City, Tenn.-based First State Bank, with $1.9 billion in assets and 32 offices.

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