Simmons First Expands Into St. Louis Metro With Reliance Acquisition

Simmons First National Corp. announced Tuesday (Nov. 13) a deal to acquire Reliance Bancshares in a cash and stock deal valued at around $214 million. Reliance has assets of $1.5 billion and operates 22 branches in the St. Louis metro. By comparison, Simmons reports $16.3 billion in assets.

The deal continues a trend of growth through acquisition for the Pine Bluff-based bank. More than a year ago, Simmons completed two of the biggest acquisitions in the company’s history, paying just over $1 billion. In September 2017, Simmons completed its previously announced acquisitions of Stillwater, Okla.-based Southwest Bancorp Inc. and parent company Bank SNB, and First Texas BHC Inc., or Southwest Bank of Fort Worth. The out-of-state acquisitions helped to double Simmons’ first quarter earnings to $51.3 million, up from $22.1 million in the previous year.   MORE

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