Simmons Bank Converts to Arkansas State-Chartered Bank
31 Marzo 2016 - 10:05PM
Simmons First National Corp. (NASDAQ:SFNC) announced Thursday that
effective upon the opening of business on April 1, its subsidiary
Simmons First National Bank will have converted from a national
banking association to an Arkansas state-chartered bank. The bank’s
name will change to Simmons Bank.
Simmons Bank is a member bank of the Federal Reserve System
through the Federal Reserve Bank of St. Louis.
The conversion isn’t expected to affect the bank’s customers in
any way. Customers will receive the same protection on deposits in
Simmons Bank as they received with deposits in Simmons First
National Bank.
“The charter conversion is a strategic undertaking that we
believe will enhance our operations in the long term,” said Marty
Casteel, chairman and chief executive officer of Simmons Bank.
“We’re strongly committed to operating our organization with a
focus on community banking. We believe it will be advantageous for
our shareholders, customers and associates to work with regulators
who are accustomed to community banks and the challenges they
face.”
About Simmons First National Corporation
Simmons First National Corp. is a financial holding company
headquartered in Pine Bluff, Ark., with total assets of almost $7.6
billion. The company conducts financial operations in Arkansas,
Kansas, Missouri and Tennessee. The company’s wholly owned
subsidiary, Simmons First National Bank, offers comprehensive
financial solutions delivered with a client-centric approach. The
company’s common stock trades on the NASDAQ Global Select Market
under the symbol “SFNC.”
FOR MORE INFORMATION CONTACT:
Rex Nelson
Senior Vice President
Director of Corporate Communications
Simmons Bank
(501) 377-7606
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