Arkansas poultry lender to buy deposit-rich bank
First Financial Banc in El Dorado, Ark., has agreed to buy First National Corp. of Wynne in Arkansas.
The $1 billion-asset First Financial will gain seven branches, $175.1 million in loans and $290.6 million in deposits when it buys the $339.7 million-asset First Financial.
The deal was disclosed by Hovde Group, which advised First Financial. Hovde did not disclose the price First Financial will pay.
The deposits will be important for First Financial, which has a loan-to-deposit ratio of 111%.
First Financial is among the nation’s biggest poultry lenders. The bank, which makes mortgages and lends to pharmacists and veterinarians, also has a nationwide farm and ranch lending division.