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Simmons First Nat’l Pays $77M for Citizens National
Simmons First National Corp., headquartered in Pine Bluff, AR, has closed on its acquisition of Citizens National Bancorp. Simmons’ $77-million buy of the Athens, TN-based Citizens National will allow Simmons to expand further east in Tennessee. The Arkansas bank already has 37 Tennessee branches, which came from its 2015 acquisition of First State Bank of Union City.
The Tennessee bank will remain separate, and continue operations as a Simmons First National subsidiary until merged into Simmons Bank. The merger and system conversion is scheduled for Oct. 21. Jack B. Allen, who is president of Citizens, will take on the role of community president of east Tennessee.
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- ◦Sale/Acquisition
