Toll Free 800.831.3587

The Exchange

Offering the latest news and leading insight.
Divestiture Statement

Simmons First National Corporation and Delta Trust & Banking Corporation have agreed to sell one Delta Trust & Bank’s branch banking offices located in Eudora, Arkansas, with deposits that totaled approximately $10 million as of June 30, 2013, in order to resolve competitive concerns raised by the U.S. Department of Justice about the companies’ pending merger.

Under the agreement with the Department’s Antitrust Division, the companies will divest the branch in Eudora, Arkansas. The divestitures will include all deposits, branch-origination loans, and fixed assets associated with the Eudora branch.

The proposed merger Delta Trust & Banking Corporation into Simmons First National Corporation is subject to the final approval of the Board of Governors of the Federal Reserve System. The Department of Justice said that it will advise the Federal Reserve Board that it believes that the merger will not have a significantly adverse effect on competition and concurs in authorizing the consummation of the merger, provided that: the parties divest the Eudora branch’s associated deposits, loans and fixed assets; the parties commit to the Federal Reserve Board that they will comply with the agreement with the Department; and the parties’ commitments to the Department are included as a condition in the event the Federal Reserve Board enters an order allowing the merger.

Anyone with inquiries regarding this announcement should contact Marty Casteel (Simmons) at (501) 541-1000 or marty.casteel@simmonsfirst.com or French Hill (Delta) at (501) 907-2286 or bhughes@delta-trust.com.

Simmons First National Corporation – parent company of Simmons First National Bank, Simmons First Bank of Russellville, Simmons First Bank of El Dorado and Simmons First Bank of South Arkansas – is a bank holding company headquartered in Pine Bluff, Arkansas, with approximately $4.4 billion in assets. Simmons operates more than 100 banking and financial services offices in Arkansas, Missouri and Kansas. Additional corporate information and e-banking are available at www.simmonsfirst.com.

Through its principal subsidiary Delta Trust & Bank, Delta Trust & Banking Corporation offers commercial and retail banking services plus brokerage, investment, trust, insurance and mortgage services throughout Central and Northwest Arkansas. With assets of approximately $ 444 million as of March 31, 2014, Delta Trust & Bank has 10 banking and financial services offices in Arkansas. Additional information is available at www.delta-trust.com.

Information concerning the branch to be divested is included below.

Meet With Us

We are ready to discuss your financial needs. Scheduling a time to meet with us is simple, just click here.

©2014 Delta Trust & Bank | Privacy & Security

This blog does not necessarily reflect the opinion of Delta Trust & Bank or any subsidiaries. They are the opinion of the author.

For bank products or bank specific posts:

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category

For any posts or products related to Delta Trust Investments, Inc., Delta Trust Insurance or the trust department:

Not Insured by FDIC or any Federal Government Agency. May Lose Value. Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate.

Any customer who should happen to be dissatisfied with the service provided by Delta Trust Investments, Inc., is invited to write to:

James Alger, President, Delta Trust Investments, Inc. | P.O. Box 17607 | Little Rock, AR 72222 | 501-907-2297 or 1-877-349-9333, or Email James Alger.

Delta Trust Investments Inc. is a member of FINRA* and SIPC*

*By clicking on 3rd party links you will be leaving the Delta Trust Investments Inc website.

Equal Housing Lender Member FDIC

You are leaving delta-trust.com.

Close

You are leaving the Delta Trust Website. Do you wish to continue?

Meet With Us

We are ready to discuss your financial needs. Fill out the form below and someone will be in touch with you.

NOTE: Please do not include sensitive information such as your social security number or account number in your message.

×

Contact Us

We are ready to discuss your financial needs. Fill out the form below and someone will be in touch with you.

NOTE: Please do not include sensitive information such as your social security number or account number in your message.

×