Lunsford Bridges Out as Metropolitan National Bank CEO
by January 24, 2014 2:51 pm 343 views
The Northwest Arkansas Business Journal has learned that Lunsford Bridges, president and CEO of Metropolitan National Bank for the last 29 years, no longer has an office at the bank’s downtown tower headquarters in Little Rock, and that he is with Simmons First National Bank only under a “consultancy agreement” for the remainder of the year.
Simmons First National Corp. Chairman and CEO George Makris confirmed to the Business Journal that Bridges has agreed to the advisory role.
“In his 50-year career [Bridges] has built quite a few relationships in the banking world, and we thought it was awfully important, at least for a year or so, that he be involved as we make this transition,” Makris said. “We’re awfully excited he has agreed to stay in a consulting role.”
A source also told the Business Journal that Lunsford’s 12th-floor office is now occupied by David Bartlett, president and chief banking officer with Simmons. The high-level shift in management comes as Simmons consolidates its recent $56-million acquisition of MNB.
When a call was made to the MNB switchboard Friday, a person who answered the call said that Bridges hadn’t been in his office in “a few weeks” and that she did not know where Bridges’ office was.
The consolidation of Simmons and MNB will take effect for consumers on March 22. In Northwest Arkansas 11 of the 21 total branches will be closed and folded into 10 existing Simmons and Metropolitan locations. Statewide, 27 branches are set to close.
Simmons Bank officials had said the consolidation would entail a reduction in employees.