Simmons First National Corporation announced Tuesday that Bank SNB, its subsidiary bank headquartered in Stillwater, Oklahoma, has merged with and into Simmons’ lead subsidiary bank, Simmons Bank, headquartered in Pine Bluff, according to a company news release.
Simmons acquired Bank SNB last year as a result of the merger of Simmons and Bank SNB’s former parent company, Southwest Bancorp, Inc. The successful merger of Bank SNB into Simmons Bank marks the final step in integrating the institutions, the news release said.
“Today serves as another great milestone for our company and our customers,” said George A. Makris, Jr., chairman and CEO of Simmons. “Our expanded team means more locations, more lending power, and most importantly, more opportunities to serve our customers and communities.”
As of March 31, 2018, Simmons had approximately $15.6 billion in assets. With the completion of the merger of Bank SNB, Simmons Bank now has nearly 2,700 associates serving customers at approximately 200 locations across Arkansas, Colorado, Kansas, Missouri, Oklahoma, Tennessee and Texas.
“This is a historical event for our company and our customers,” said Mark Funke, Simmons Bank southwest division president, formerly Bank SNB’s CEO. “Together, we offer new and enhanced products and services, a broad and complimentary geographic footprint, a strong and stable financial condition, and a focused path to continued growth.”
“The transaction puts Simmons in an even stronger position to deliver on our desire to help our customers and communities achieve their financial goals,” said chairman and CEO of Simmons Bank Marty Casteel. “That’s our highest definition of success.”