Arkansas-based Simmons First National has agreed to purchase all of the outstanding capital stock of The Landrum Company, the parent of Missouri-based Landmark Bank.

The transaction is valued at around $434m.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Landmark has $3.3bn in assets and 39 branches in Missouri, Oklahoma, and Texas.

Landrum president and CEO Kevin Gibbens said: “Through this transaction, we will be able to take advantage of Simmons’ size and scale to provide our customers with additional products and services, as well as greater lending capabilities.”

For a temporary period, Landmark Bank will serve as a separate bank subsidiary of Simmons.

Ultimately, Landmark Bank will be consolidated with Simmons Bank.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is pending shareholder and regulatory approvals and anticipated to close in the final quarter of 2019.

Simmons chairman and CEO George Makris Jr. said: “Landmark Bank is a strong banking franchise with deep history and much success in the communities it serves, and I am thrilled that the Landmark Bank team has chosen to become our newest partner.

“By combining our companies, we will substantially enhance our ability to provide quality financial products and services to our customers throughout Missouri, Oklahoma, and Texas.”

As of 30 June 2019, Simmons managed around $17.9bn in assets.

In addition to Arkansas, the firm has operations in Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee, and Texas.

It made several acquisitions in the recent years including First Texas BHC, Southwest Bancorp, and Citizens National Bank.