Simmons Bank had a trifecta of news late last week as the Pine Bluff-based financial institution announced plans for an expanded presence in Memphis and west Little Rock and two major promotions.
Simmons said Friday (Oct. 1) it is negotiating with the city of Memphis to be title sponsor of Liberty Bowl Memorial Stadium.
Located in the heart of midtown Memphis, the stadium includes 40 skyboxes, seven executive suites and a 175-person stadium club. Home to the University of Memphis football team, the stadium and fairgrounds has seen numerous renovations and expansions and now has a capacity of 58,325.
“With the continued reinvestment surrounding the Liberty Bowl and many other areas across the city, Simmons Bank is proud to partner with the city of Memphis to ensure the future of this historic stadium which represents a critical element of this important renaissance project,” said George A. Makris, Jr., chairman and CEO of Simmons. “As Simmons Bank Memorial Stadium, the name will continue to uphold the honor and tradition the stadium serves as a tribute to our veterans.”
Earlier this year, Simmons announced the acquisitions of Tennessee-based Landmark Community Bank and Triumph Bancshares, Inc., the parent company of Triumph Bank. Once completed, Simmons Bank will be the 8th largest bank in Tennessee and 7th largest bank in Memphis based on market share data recently released by the FDIC.
Simmons Bank also announced last week that it will acquire the former headquarters of Bank OZK in west Little Rock’s Chenal Valley. The property is located at 17901 Chenal Parkway. Simmons said it intends to move associates into the building later this year. The building has approximately 90,000 square feet of Class A office space and 22,379 square feet of underground parking. Included on the first floor is a 4,200 square foot, full-service bank branch with four drive-thru lanes.
Finally, Simmons Bank reported two promotions this week.
Jason Culpepper will take the helm as the new director of participations and syndications in the Institutional Banking Department. In this new role, Culpepper will develop, build and advise the participation and syndication portion of Simmons’ corporate loan strategy.
Reggie Rose will succeed Culpepper as regional community president and will guide business development, strategy and community affairs in the North Central Arkansas market which includes Cabot, Clinton, Conway, Marshall, Mountain View and Searcy. These promotions were effective on October 1.