Simmons First Shareholders Approve Tennessee, Missouri Bank Acquisitions

Simmons First National Corp. said its shareholders have approved mergers with two out-of-state banks announced earlier this year – moves that broadly expanded the Pine Bluff-based bank’s footprint in Tennessee and Missouri.

Earlier this summer, Simmons First acquired Union City, Tenn.-based Community First Bancshares in a $243.4 million all-stock deal and Liberty Bancshares, Inc., headquartered in Springfield, Missouri, in an all-stock transaction valued at $206.9 million.

Simmons First also acquired Delta Trust & Bank and Talbot Capital Management earlier this year.

In separate special shareholders’ meetings held on Tuesday (Nov. 18), Community First and Liberty approved the Simmons transactions. The consummation of the mergers is subject to approval of certain bank regulatory agencies and other customary closing conditions.

Simmons said the two transactions are expected to close late in the fourth quarter of 2014 or early in the first quarter of 2015.

“We are excited about the prospects for our combined institution and overwhelming shareholder support as shown through the shareholder votes,” said Simmons First Chairman and CEO George A. Makris, Jr. “These mergers are positive steps for our organization and we are confident that the completion of these transactions will bring enhanced services and long-term benefits to our customers, associates, shareholders and the communities we serve.”