Arkadelphia, Ark. – Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, today announced it has entered into a merger agreement to acquire DeWitt First Bankshares Corporation and its wholly owned subsidiary, Arkansas County Bank, a $185 million asset bank with two branches in Arkansas County (DeWitt and Stuttgart) and one in Sevier County (Lockesburg).
“We are excited to introduce Arkansas County Bank’s team members, customers, and communities to Southern Bancorp’s unique blend of mission-driven products and services aimed at providing everyone in the community with the tools to build wealth,” said Southern Bancorp CEO Darrin Williams. “As one of America’s oldest and largest CDFIs, we are driven by our mission to increase economic opportunity and build individual net worth through traditional banking products and services combined with financial development offerings such as financial education, cre