Simmons First National Corporation, parent company of Simmons Bank, announced Monday the completion of the acquisition of Hardeman County Investment Company, Inc., headquartered in Jackson, Tennessee, including its wholly-owned bank subsidiary, First South Bank. A definitive agreement to acquire the company was previously announced in November 2016, and Hardeman’s shareholders approved the transaction earlier this month.
“First South Bank is a natural addition to our growing footprint,” said George A. Makris Jr., Simmons’ Chairman and CEO. “First South and Simmons have similar cultures and operating styles, and together, we have a strong presence in western Tennessee. We look forward to continuing to serve our customers in this region with our combined product and service offerings.”
First South Bank was founded in 1903 as an independent, privately-owned bank and operates 10 branches in Western Tennessee.
With the completion of these acquisitions, Simmons has approximately $9.1 billion in assets, $6.0 billion in loans, $7.2 billion in deposits, 2,000 associates and more than 150 branch locations across Arkansas, Kansas, Missouri and Tennessee.
FSB will continue operations as a separate bank subsidiary of Simmons until it is merged into Simmons Bank. That conversion is slated for completion September 5, 2017.
“Over the past several months, both banks have been preparing for the conversion, and we are looking forward to completing this exciting integration,” said Marty Casteel, Chairman and CEO of Simmons Bank. “First South customers should continue their banking as usual and will receive the same great service from the associates they have come to know and trust. We are working closely together to ensure the transition is as seamless as possible for customers.”