Simmons First National Corp. in Pine Bluff, Ark., is planning to add another community bank to its roster.

The $1.5 billion-asset company, which owns eight banks in Arkansas, said Monday that it would buy NBC Bank Corp. in El Dorado, Ark., for about $25 million in stock. The deal, expected to close in the third quarter, would extend Simmons' reach into south central Arkansas.

"This partnership allows us to fill a geographical void that we currently have in our efforts to establish community banks throughout Arkansas," said John F. Dews, Simmons' chairman, president, and chief executive officer.

NBC, with $147 million of assets, is the parent of National Bank of Commerce. The bank would retain its name, employees, and board of directors.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.