Arkansas-based Simmons First National Corporation has announced the completion of its purchase of both Southwest Bancorp, Inc. of Stillwater, Oklahoma, and First Texas, BHC of Fort Worth, Texas.
Simmons said Friday that shareholders of the two companies approved the transactions earlier this month. Terms of the purchase were not released.
Southwest Bancorp is the parent company of Bank SNB and First Texas is the parent company of Southwest Bank.
Simmons said in a news release that the acquisitions brings its total assets to more than $14 billion, plus about $10.4 billion in loans and about $11.2 billion in deposits.
The company said both Southwest Bank and Bank SNB will continue operating under their present names.
Simmons Bank was started in 1903 in Pine Bluff and has since expanded to over 150 banks in a four state region prior to this latest acquisition. Ten different banking organizations in Arkansas, Missouri, Tennessee and Kansas now operate under the Simmons umbrella.
