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Arkansas bank adding to local footprint


An acquisitive Arkansas bank has struck deals to buy two lenders headquartered in the Memphis area in a move that will grow its Nashville-area presence by 40 percent.
The leaders of Simmons First National have agreed to pay about $146 million for Landmark Community Bank and nearly $132 million for the parent company of Triumph Bank. Both purchases are expected to close in the fourth quarter and will grow Simmons First’s asset base to more than $25 billion.
Based on mid-year 2020 data from the Federal Deposit Insurance Corp., the pending deals will grow Simmons’ Middle Tennessee deposit base by about $190 million to more than $650 million and move it ahead of regional peers such as ServisFirst Bank and Renasant Bank into 15th place. Landmark runs offices on Music Row, Cool Springs and Franklin, while Triumph’s local branches are located on Music Row and in Brentwood near Maryland Farms. ....

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