Financial Advisor
Simmons First National Corporation
M&A Advisory
Has Acquired
Transaction Details
- Simmons First National Corporation (Nasdaq: SFNC) (“Simmons”) announced that it has entered into a definitive agreement and plan of merger with The Landrum Company (“Landrum”) to acquire all of the outstanding capital stock of Landrum in an all-stock transaction
- Landrum is headquartered in Columbia, Missouri, and is the parent company of Landmark Bank
- Landrum’s common stockholders will receive, in the aggregate, 17,350,000 shares of Simmons’ common stock, valued at approximately $433.9 million, based on the closing share price of Simmons of $25.01 on July 29, 2019
- Pro forma the transaction, Simmons will have approximately $21.4 billion in assets, making it the 53rd largest U.S. bank
- Completion of the transaction is expected during the fourth quarter of 2019
Sources: Company press release and investor presentation, S&P Global Market Intelligence and publicly available information.
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(1) Based on a SFNC closing price of $25.01 on July 29, 2019.
(2) Based on Landrum’s estimated earnings of $32.7 million for 2019E.
(3) Core deposits calculated as total deposits less jumbo time deposits > $250,000 and brokered deposits.
(4) Since 2013. Excludes loans held for sale.
(5) For the quarter ended 6/30/19.
(6) Excluding restructured loans.
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