PINE BLUFF, Ark. -- Pine Bluff-based Simmons First National Corporation has announced an agreement in which Little Rock-based Delta Trust & Banking Corporation will be merged into the company.
Simmons said Monday that Simmons will purchase all the outstanding common stock of Delta Trust in a transaction worth an estimated $66 million dollars.
The agreement is pending approval by Delta Trust shareholders and federal regulatory agencies. The sale is expected to be completed during the third quarter of the year and the merger is expected to be complete during the fourth quarter.
Delta Trust has banking operations in Little Rock, northwest Arkansas and southern Arkansas with another facility under construction in Conway.
Simmons First has operations across Arkansas and in Missouri and Kansas.
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