Simmons Bank

Simmons First National Corporation
Company typePublic
Nasdaq: SFNC
S&P 600 Component
IndustryFinancial services
FoundedMarch 23, 1903; 121 years ago (1903-03-23)
Headquarters501 Main Street
Pine Bluff, Arkansas
United States
Area served
Arkansas
Kansas
Missouri
Oklahoma
Tennessee
Texas
Key people
Increase $255 million (2020)
Total assetsIncrease $24.7 billion (2021)
Total equityIncrease $3.0 billion (2020)
Number of employees
2,923 (2020)
Websitesimmonsbank.com
Footnotes / references
[1][2]

Simmons Bank is a bank with operations in Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. It is the primary subsidiary of Simmons First National Corporation, a bank holding company.

History

The bank was founded by physician Dr. John Franklin Simmons in Pine Bluff, Arkansas in 1903. In 1933, during the Great Depression, it was one of the first Arkansas banks to reopen after the federally imposed “bank holiday”. In 1967, the bank was the first in Arkansas to offer a credit card. On March 23, 1984, a customer (Mary Stone) withdrew $285 from an automated teller machine in Sydney, Australia in the first intercontinental transaction made ever via an ATM.

In September 2012, in a transaction organized by the FDIC, the company acquired Truman Bank, which suffered from bank failure.[3][4]

Simmons Bank in Sweetwater, Tennessee

In October 2012, the company acquired Excel Bank. In November 2013, the company acquired Metropolitan National Bank.[5] The purchase included the Simmons Tower. In August 2014, the company acquired Delta Trust & Bank. In February 2015, the company acquired Liberty Bancshares and Community First Bancshares.[6] In November 2015, the company acquired Ozark Trust and Investment Corp.[7] In September 2016, the company acquired Citizens National Bank. In May 2017, the company acquired First South Bank.[8] In October 2017, the company acquired Southwest Bancorp, Inc. and First Texas BHC, Inc.[9] In April 2019, the company acquired Reliance Bancshares, Inc.[10]

In July 2019, the company acquired Landmark Bank, Inc., a subsidiary of Landrum, the parent company, headquartered in Columbia, Missouri, for an estimated $434 million. The merger was finalized and marketing changes took place on February 18, 2020. [11] In November 2021, the company purchased Spirit of Texas Bancshares, with the acquisition completed and locations converted in April 2022.[12]

References

  1. ^ "Simmons First National Corporation 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "FDIC: Simmons Bank (FDIC # 3890)". Federal Deposit Insurance Corporation.
  3. ^ "Failed Bank Information for Truman Bank, St. Louis, MO". Federal Deposit Insurance Corporation.
  4. ^ Edwards, Greg (September 14, 2012). "Truman Bank seized, sold to Simmons First National Bank". American City Business Journals.
  5. ^ "Simmons First Completes Acquisition of Metropolitan National Bank" (Press release). Globe Newswire. November 25, 2013.
  6. ^ "Simmons First National Corporation Completes Acquisitions of Liberty Bancshares and Community First Bancshares" (Press release). Globe Newswire. February 27, 2015.
  7. ^ "Simmons completes Ozark acquisition". American City Business Journals. November 2, 2015.
  8. ^ "Simmons First National Corporation Completes Acquisition of Hardeman County Investment Company, Inc" (Press release). Globe Newswire. May 15, 2017.
  9. ^ "Simmons First National Corporation Completes Acquisitions of Southwest Bancorp, Inc. and First Texas BHC, Inc" (Press release). Globe Newswire. October 19, 2017.
  10. ^ "Simmons First National Corporation Completes Merger of Reliance Bancshares, Inc" (Press release). Globe Newswire. April 15, 2019.
  11. ^ "Landmark Bank to complete merger with Simmons, change its name Tuesday" (Press release). Columbia Missourian. February 14, 2020.
  12. ^ "Arkansas-based Simmons First National Corp. Completes Acquisition and Conversion of Spirit of Texas Bancshares". Bankers Digest. April 14, 2022.