Chambers Bank Files to Merge Decatur State Bank

Officials from Chambers Bank and its holding company, Chambers Bancshares Inc., announced Dec. 6 plans to merge Decatur State Bank into Chambers Bank.

Chambers, headquartered in Danville with more than 20 locations in Arkansas and more than $750 million in consolidated assets, has filed the necessary applications with the Arkansas State Bank Department and the Federal Deposit Insurance Corp. The merger, according to a news release, is anticipated to be completed in the second quarter of 2014, pending regulatory approval.

The merger will complete a series of transactions that began in the fourth quarter of 2012 when Chambers Bank bought the majority interest of Peterson Holding Co., which owned all of the stock of Decatur State Bank and Grand Savings Bank of Oklahoma.

GSB was sold to a group of investors in Benton County earlier this year, and DSB has remained a subsidiary of Chambers Bank.

We look forward to welcoming the Decatur bank employees and their customers to the Chambers Bank family.”  

Decatur State Bank customers should continue to conduct their banking business at Decatur branch locations as they have in the past until they receive more information from Chambers Bank with details about the merger, according to the news release. 

The bank has three offices in Benton County in Decatur, Gentry and Siloam Springs, with assets of $123.4 million as of Sept. 30.

“It is business as usual,” Chambers said. “We want to assure the Decatur employees, customers and the communities that are served by Decatur State Bank that Chambers prides itself on being a vital part of our communities and we look forward to continuing that tradition in the Decatur markets.”