Arkansas Business: Simmons tops bidders for Metropolitan National Bank | Arkansas Blog

Arkansas Business: Simmons tops bidders for Metropolitan National Bank

by

1 comment
Arkansaas Business reports that Simmons First National Corp. is saying that it submitted the best bid among three at a private auction today to acquire Metropolitan National Bank as part of a bankruptcy proceeding for its holding company.

Details were't released. The deal is subject to approval at a hearing Thursday in federal bankruptcy court.

More details here. A Texas investment group, Ford Financial Group, and the Walton-owned Arvest Bank had also been interested in the acquistion.

By this account, a Simmons purchase and combination with Metropolitan could move the bank to more than 7 percent of the Little Rock market, making it fourth-largest bank in the city behind Bank of America, Regions and Cenntennial.




From the ArkTimes store

Comments

Showing 1-1 of 1

 

Add a comment

Clicky