A deal between an Arkansas community bank and a local brokerage has been called off because of "cultural differences."
Bank of the Ozarks Inc. in Little Rock said last week that it canceled plans to buy John R. Taylor Financial Group of Fort Smith. The merger was announced in September, but a price was never disclosed.
George Gleason, chairman and chief executive officer of $612 million- asset Bank of the Ozarks, said the two companies could not overcome basic differences.
Bank of the Ozarks operates two banks with 20 branches in Arkansas. Taylor Financial is a licensed broker-dealer with more than 3,800 customers and $270 million of assets under management.