The public holding company of Simmons First National Bank said shareholders have approved merger deals with two bank holding companies that have combined assets of $3 billion.
Simmons First said in a news release the approvals were made Tuesday for mergers with Community First Bancshares and Liberty Bancshares.
Community First has $1.9 billion in assets and owns First State Bank, which is headquartered in Union City, Tenn., and operates 32 branches in 25 cities in Tennessee. Liberty has $1.1 billion in assets and owns Springfield, Mo.-based Liberty Bank, which has 24 branches in 16 cities in southwest Missouri.
Simmons First, which has $4.8 billion in assets, said it expects both deals to close later this year or early next year.
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The Pine Bluff, Ark.-based bank operates two branches in Wichita.