Pine Bluff-based Simmons First National Corp. on Tuesday announced it has completed its acquisition of Delta Trust & Banking Corp., a $66 million merger deal announced in March.
Delta Trust & Bank shareholders approved the merger at a special shareholders meeting Friday, and the transaction was made final Sunday, Simmons said. Delta Trust will remain a separate bank with a separate branch network and continue operating as a subsidiary of Simmons until its systems are converted into Simmons’, which is set for completion Oct. 27, the bank said.
Delta Trust, which has $430 million in assets, is based in Parkdale in Ashley County but has most of its assets and deposits in central Arkansas.
"We are excited about the blending of our 110 year history with the 104 year history of Delta Trust, allowing us to enhance the customer experience throughout the markets we serve," Simmons Chairman and CEO George A. Makris Jr. said in a statement.
Read Wednesday's Arkansas Democrat-Gazette for more on this story.