Arkansas-based bank to acquire Oklahoma’s Southwest Bancorp

The Associated Press - December 15, 2016 9:34 am

PINE BLUFF, Ark. (AP) – Arkansas-based Simmons First National Corp. has announced plans to buy an Oklahoma bank in a deal valued at more than $564 million.

Simmons, which is based in Pine Bluff, announced Wednesday that it would purchase Southwest Bancorp, Inc. of Stillwater, Oklahoma. Southwest Bancorp is the parent company of Bank SNB, which has 31 branches in four states.

Simmons says the deal is expected to close during the third quarter of 2017. Simmons’ chairman and CEO, George Makris Jr., says the acquisition allows Simmons to enter new markets in Oklahoma, Texas and Colorado.

Southwest Bancorp has nearly $1.9 billion in loans and $1.95 billion in deposits.

 

Latest Stories

Oklahoma COVID-19 Update for 16 April 2021

SITUATION UPDATE: COVID-19   As of this advisory, there are 444,863 (273 new today) cases of...

Former Tribal Employee to serve five years probation; embezzlement and theft

  Also Ordered to Pay Restitution of $194,573   OKLAHOMA CITY – Yesterday, CAYLE LEIGH KLINEKOLE,...

Capitol Update from Rep. Luttrell

  This week we ramped up our floor hearings of Senate bills and passed quite a...