Big Creek Bancshares, Inc., parent company of Forrest City based Armor Bank, and Tyronza Bancshares, Inc., parent company of First Delta Bank headquartered in Marked Tree, have announced an agreement has been signed for Big Creek to purchase Tyronza Bancshares and First Delta Bank pending regulatory approvals and approval by the shareholders of Tyronza Bancshares.
The transaction is expected to close in the second quarter of this year. Upon closing, First Delta will become a subsidiary bank of Big Creek, but will operate as a separate bank until the first quarter of 2020, at which time First Delta branches will become branches of Armor Bank.
Armor Bank President and CEO Chad May said customers should continue to bank as they always have. No changes to customer accounts will be made until next year.
“Armor Bank has taken great pride in serving eastern Arkansas customers for more than a century and we are delighted to welcome First Delta’s clients and its employees into the Armor family. First Delta has a longstanding tradition of being a true community banking partner in the markets that they serve. The alignment of our core values of client service, along with our offerings of enhanced digital banking capabilities and strong client-focused banking team, will help us continue to serve and give back to the communities we operate in,” May said.
Armor Bank is a full-service community bank with $90.5 million dollars in assets as of March 31, 2019. In December of 2016, Big Creek acquired the 98-year-old Forrest City Bank and subsequently rebranded it to Armor Bank. Armor Bank has one full-service location and one drive up location in Forrest City. In February, Armor Bank opened its first full-service location in Little Rock on Cantrell Road.
“For over 67 years, First Delta Bank has endeavored to provide the communities of eastern Poinsett County with sound, proven financial products and exceptional customer service. We are excited to be partnering with Armor Bank, a bank that shares our core values and rich Delta heritage, in that we can offer greater access to the latest banking technology and products without sacrificing the personal service our customers have come to expect,” Chris Lehman, President and CEO of First Delta Bank said.
First Delta Bank, established in 1951, has $59.6 million in assets as of March 31, 2019. The bank has three full-service locations in Marked Tree, Tyronza and Trumann.