Simmons First Says Acquisition Of Metropolitan Complete

Simmons First National Corp. said it has completed its acquisition of Little Rock-based Metropolitan National Bank.

In September, Pine Bluff-based Simmons First announced it won a bidding auction for $53.6 million for Metropolitan, which was owned by Rogers Bancshares, Inc.

The completion of the transaction now triggers a period in which Simmons First and Metropolitan will begin combining assets. Between now and March 21, 2014 all current branches of both Simmons First and Metropolitan will remain open, the bank said.

Customers will begin being notified of any changes resulting from potential branch consolidations scheduled for March 21, 2014.

“We are excited about expanding our 110-year history to communities and customers in both central and northwest Arkansas,” said George A. Makris, Jr., CEO-Elect of Simmons First National Corp. “This merger is a very positive step for our organization and we are confident that it brings long-term benefits to our customers, associates, shareholders and the communities we serve.”

Simmons First National Corp. (NASDAQ: SFNC) shares closed trading today at $34.19. The company’s stock has traded between $23.11 and $34.91 during the past year.