Simmons First National Corporation Completes Merger of Reliance Bancshares, Inc.
15 Aprile 2019 - 6:05PM
Simmons First National Corporation (“
Simmons”)
(NASDAQ: SFNC) announced that, on Friday, April 12, 2019, it
completed its acquisition of Reliance Bancshares, Inc.
(“
Reliance”), headquartered in the St. Louis,
Missouri, metropolitan area. A definitive agreement to acquire
Reliance was previously announced in November 2018, and Reliance
shareholders approved the transaction earlier this month.
Contemporaneously with the completion of the Reliance
acquisition, Reliance Bank (the subsidiary bank of Reliance) was
merged into Simmons Bank (the subsidiary bank of Simmons), with
Simmons Bank as the surviving institution.
“Today we are excited to welcome our new customers and be able
to offer them the full suite of Simmons’ financial products and
services,” said George A. Makris, Jr., chairman and CEO of Simmons.
“By adding over 20 bank branches to our presence in the St. Louis
metropolitan area, this merger will strengthen our market share and
bring forth additional opportunities for us to better serve this
important region, which crosses into Illinois.”
With the completion of the merger of Reliance, Simmons now has
approximately $17.6 billion in consolidated assets and more than
200 branch locations across Arkansas, Colorado, Illinois, Kansas,
Missouri, Oklahoma, Tennessee and Texas.
“The Reliance team is looking forward to working with Simmons
Bank to build an even stronger franchise and continuing our proud
legacy of delivering an exceptional banking experience,” said
Thomas H. Brouster, Sr., former chairman of Reliance. “We’re
confident that the combination will bring significant opportunities
and benefits to all of our customers, employees and the communities
we serve.” Mr. Brouster will serve in an advisory capacity to
the St. Louis market following the transaction.
“The transaction was a team effort, one that required the
contribution and support of both organizations,” said Marty
Casteel, chairman and CEO of Simmons Bank. “We have always believed
that our unwavering commitment to excellent customer service is
what sets us apart, and we look forward to demonstrating this
commitment to our new and existing customers in our expanded St.
Louis market.”
About Simmons First National CorporationSimmons
is a financial holding company headquartered in Pine Bluff,
Arkansas, with total consolidated assets of approximately $17.6
billion. Simmons, through its subsidiaries, offers comprehensive
financial solutions delivered with a client-centric approach in
Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee
and Texas. The company’s common stock trades on the NASDAQ Global
Select Market under the symbol “SFNC.”
About Simmons BankSimmons Bank is an Arkansas
state-chartered bank that began as a community bank in 1903.
Through the decades, Simmons Bank has developed a full suite of
financial products and services designed to meet the needs of
individual consumers and business customers alike. Simmons Bank has
grown steadily and today operates over 200 branch locations
throughout Arkansas, Colorado, Illinois, Kansas, Missouri,
Oklahoma, Tennessee and Texas. Simmons Bank is the subsidiary bank
for Simmons First National Corporation, a publicly traded bank
holding company headquartered in Pine Bluff, Arkansas. For more
information, visit simmonsbank.com.
Forward-Looking StatementsStatements in this
press release that are not historical facts should be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements of this type speak only as of the date of this press
release. By nature, forward-looking statements involve inherent
risk and uncertainties. Various factors, including, but not limited
to, economic conditions, credit quality, interest rates, loan
demand and changes in the assumptions used in making the
forward-looking statements, could cause actual results to differ
materially from those contemplated by the forward-looking
statements. Forward-looking statements regarding the Reliance Bank
merger are based on currently available information. Actual results
could differ materially from the statements made. Additional
information on factors that might affect Simmons’ future
performance is included in its Form 10-K filing with the U.S.
Securities and Exchange Commission.
FOR MORE INFORMATION, CONTACT:
STEPHEN C.
MASSANELLI |
OR |
CAROLINE P. MAKRIS |
EVP &
Chief Administrative Officer |
|
VP/Manager
Marketing & Communications |
Simmons
Bank |
|
Simmons
Bank |
steve.massanelli@simmonsbank.com |
|
caroline.makris@simmonsbank.com |
|
|
501.377.7615 (direct) |
|
|
501.944.0518 (mobile) |
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