Pine Bluff-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.
“Today marks the beginning of an exciting new chapter for Simmons,” said George A. Makris, Jr., Simmons’ chairman and CEO. “With the closing of these transactions, Simmons has now expanded its reach into three new banking markets – Texas, Oklahoma, and Colorado – and strengthened its franchise in Kansas. We are pleased to welcome all of the Bank SNB and Southwest Bank customers and associates to the Simmons family. We have always believed that our unwavering commitment to excellent customer service is what sets us apart, and I have no doubt that our new partners share that same conviction.”
Marty Casteel, president of Simmons Bank, said, “These are both long-awaited transactions, and we could not be happier about the opportunities both banks bring with them. Both Bank SNB and Southwest Bank customers can rest assured that we will do everything in our power to ensure a seamless transition. In the meantime, customers should continue their banking practices as usual.”