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Southern Missouri Bancorp Inc And Citizens State Bankshares Of Bald Knob Announce Agreement To Merge

Thursday, 7 Nov 2013 09:00am EST 

Southern Missouri Bancorp, Inc and Citizens State Bankshares of Bald Knob, Inc, the parent corporation of Citizens State Bank, announced the signing of a definitive stock purchase agreement whereby Southern will acquire Citizens in an all-cash transaction valued at approximately $5.9 million, subject to certain adjustments for transaction expenses and Citizen's equity at closing. Immediately upon closing, Citizens State Bank will be merged with and into Southern Bank. Citizens operates three branches in White County in north central Arkansas. After the acquisition, the combined company's total assets will approximate $976 million, with total loans of $728 million and total deposits of $763 million. The combined company will operate 25 branches in southern Missouri and northeast and north central Arkansas. 

Company Quote

-0.5 -1.41%
10 Jul 2014