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Simmons First National Corporation to acquire Ozark Trust and Investment Corporation

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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."

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