Bank of the Ozarks (OZRK) of Little Rock, Ark., has agreed to buy Summit Bancorp in Arkadelphia, Ark.

The $4.7 billion-asset Bank of the Ozarks said in a press release Thursday that it will pay about $216 million for Summit. The $1.2 billion-asset Summit has 23 branches and a loan-production office. The transaction is Bank of the Ozark's largest acquisition.

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