Bear State, First National Complete Bank Merger
by June 13, 2014 12:49 pm 622 views
Arkansas bank holding company Bear State Financial Inc. of Harrison said Friday it has completed its acquisition of First National Security Co. of Hot Springs.
Bear State, formerly known as First Federal Bancshares of Arkansas Inc., is the holding company of First Federal Bank of Harrison. First National Security is the holding company of First National Bank of Hot Springs and Heritage Bank of Jonesboro.
The banks will continue to operate under those respective names, according to a news release
The merger boosts Bear State’s total assets by more than 163 percent to $1.5 billion, with 42 bank locations in Arkansas and two in southeast Oklahoma.
Bear State stock was trading at $8.38 per share at 12:30 p.m. Friday.