PINE BLUFF Pine Bluff-based Simmons First National Corp. announced Monday that it will be acquiring Delta Trust & Banking Corp., which is headquartered in Little Rock.
A Simmons First news release states that the company will acquire all of the outstanding common stock of Delta Trust in a transaction valued at approximately $66 million.
The transaction is expected to occur in the third quarter and is subject to certain closing conditions, including Delta Trust shareholder and customary regulatory approvals.
Delta Trust will merge with Simmons First after the transaction.
In the fourth quarter, Simmons First anticipates merging Delta Trust & Bank into Simmons First National Bank, according to the release.
Read Tuesday's Arkansas Democrat-Gazette for more on this story.