Financial Advisor
Simmons Bank
M&A Advisory
Has Sold Four Branches To
First Western Trust Bank
Transaction Details
- On February 10, 2020, Simmons Bank (“Simmons”), a subsidiary of Simmons First National Corporation (NASDAQ: SFNC), entered into a branch purchase and assumption agreement with First Western Trust Bank (“First Western”), a wholly owned subsidiary of First Western Financial, Inc. (NASDAQ: MYFW)
- Pursuant to the agreement, First Western will acquire all of Simmons’ Colorado locations, including three Simmons branches and one loan production office (“LPO”) located in Denver (the “Branches”)
- As of December 31, 2019, the Branches had total loans of $105 million and total deposits of $58 million
- Expected closing: 3Q 2020
About the company
Simmons First National Corporation
Simmons First National Corporation is a financial holding company headquartered in Pine Bluff, Arkansas, with total consolidated assets of approximately $21.3 billion as of December 31, 2019 conducting financial operations throughout Arkansas, Colorado, Illinois, Kansas, Missouri, Oklahoma, Tennessee and Texas. The company, through its subsidiaries, offers comprehensive financial solutions delivered with a client-centric approach.
First Western Financial, Inc.
First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming and California. First Western and its subsidiaries provide a fully integrated suite of wealth management services on a private trust bank platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and investment management products and services. First Western’s common stock is traded on the NASDAQ Global Select Market under the symbol “MYFW.”
Sources: Company press releases and S&P Global Market Intelligence.
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