LITTLE ROCK, Ark. -- Worthen Banking Corp. said it has decided not to proceed with the acquisition of Stephens Diversified Leasing Inc.
The acquisition agreement had been approved by Worthen's stockholders but expired on March 31 without being extended.
The banking company said it might reconsider and go forward with the acquisition after the Federal Reserve Board completes its investigation of the ownership and control of Worthen. Like the Stephens leasing unit, Worthen has ties to the Stephens Inc. regional investment banking group.