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Simmons First National Corp to Acquire Metropolitan National Bank

Thursday, 12 Sep 2013 04:00pm EDT 

Simmons First National Corp announced the U.S. Bankruptcy Court approved a Stock Purchase Agreement between SFNC and Rogers Bancshares, Inc. (RBI) for the stock of Metropolitan National Bank (MNB). SFNC will purchase all of the issued and outstanding shares of common stock free and clear of all liens, claims and encumbrances, and assumes no liabilities of RBI. Under the terms of the agreement, RBI will receive $53.6 million in cash. The transaction is expected to close during the fourth quarter of 2013 and is subject to customary regulatory approval. 

Company Quote

-0.4 -1.02%
24 Oct 2014