Simmons First Announces Closings of Financial Centers
05 Marzo 2010 - 2:15PM
Simmons First National Corporation (Nasdaq:SFNC) today announced
that it will be closing nine financial centers in nine cities
throughout Arkansas in June as part of a "Branch Right Sizing"
initiative. After the closing of these nine financial centers
Simmons First will conduct business from 79 offices of which 75 are
financial centers in 40 communities. Chairman and Chief
Executive Officer, J. Thomas May stated, "Our purpose is to make
sure our financial centers are located in the most convenient
locations to best serve our customers, and to accomplish this goal
in an efficient, profitable manner."
"Over the last three years, Simmons First has closed,
consolidated and opened new financial centers to continually manage
our product delivery system and best meet the needs of our
customers. The affected financial centers have experienced a
decline in transaction activity over the past several
years. This decline in activity, without realistic
expectations for reversing the decline, has led us to the decision
to close these locations," explained May.
Affected Financial Centers:
Simmons First National Bank
316 West Park Street, Altus, AR
202 Main Street, Grady, AR
105 South Main Street, Gould, AR
501 Main Street, Leslie, AR
1479 Hwy 62 and 412, Cherokee Village, AR
Simmons First Bank of El Dorado, N. A.
Downtown: 208 North West Avenue, El Dorado, AR
501 Olin Street, Huttig, AR
Simmons First Bank of Jonesboro
1921 Woodsprings Road, Jonesboro, AR
Simmons First Bank of Russellville
23 Elm Street, Hector, AR
Simmons First is notifying all customers with accounts currently
maintained at the affected locations of the upcoming
closings. These customers will be served by other Simmons
First financial centers convenient to them.
Simmons First will find a position within the company for every
associate in the financial centers being closed. "Our
philosophy has and continues to be that, when we close a location,
we will find a job for every associate. That is our culture
and it enables us to best serve our customers," commented May.
Simmons First National Corporation is a $3.1 billion Arkansas
based financial holding company with eight community banks in Pine
Bluff, Lake Village, Jonesboro, Rogers, Searcy, Russellville, El
Dorado, and Hot Springs, Arkansas. The Company's eight banks
currently conduct financial operations from 88 offices, of which 84
are financial centers, in 47 communities.
The Simmons First National Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4819
CONTACT: Simmons First National Corporation
David W. Garner, Senior Vice President and
Investor Relations Officer
(870) 541-1000
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