Bringing you live news and features since 2006 

Document signing

Simmons First National Corporation to acquire Ozark Trust and Investment Corporation


Simmons First National Corporation (Nasdaq:SFNC) has entered into a definitive agreement and plan of merger with Ozark Trust and Investment Corporation (OTIC), headquartered in Springfield, Missouri. 

According to the terms of the Agreement, Simmons First National Corporation (Simmons) will acquire all of the outstanding common stock of OTIC in a cash and stock transaction valued at approximately USD20.7 million (based on the Company's 27 April, 2015 closing price), subject to potential adjustments. The transaction is expected to be immediately accretive to the Company's diluted core earnings per common share.

Founded in 1998, TCO provides a wide range of financial services for its clients including investment management, trust services, IRA rollovers or transfers, successor trustee services, personal representatives (executor of wills) and custodial services. As Simmons' first acquisition of a fee-only financial firm, TCO provides a new wealth management capability that can be leveraged across the Company's entire geographic footprint. 

"Wealth management is an important growth business for us, and we are excited about this strategic opportunity," says George A Makris, Jr, Chairman and Chief Executive Officer of Simmons. "This acquisition increases our total assets under management by more than USD1 billion, enhances our existing wealth management product offering, provides us with a talented and creative team of wealth management professionals who have built and grown a successful business and expands our presence in the important Southwest Missouri market. In addition, we view this transaction as a mutually beneficial one, as the talented team at TCO now has the entire portfolio of Simmons' products and services to provide to its more than 1,300 clients."

"We are proud to welcome the associates of TCO to the Simmons Family," says Marty D Casteel, Chairman, President and Chief Executive Officer of Simmons First National Bank ("Simmons Bank"). "TCO is one of the region's strongest and soundest trust and investment management firms. The skilled TCO staff has more than 200 combined years of experience in trust and investment planning, administration and portfolio management. Together, we expect to continue the exceptional growth and quality customer service for which TCO is known and further establish Simmons as a premier community banking organisation."

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by