UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Exchange Act of 1934
Date of Report (Date of earliest event reported) March 7, 2002
SIMMONS FIRST NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Arkansas 0-6253 71-0407808
(State or other jurisdiction of (Commission (I.R.S. employer
incorporation or organization) file number) identification No.)
501 Main Street, Pine Bluff, Arkansas 71601
(Address of principal executive offices) (Zip Code)
(870) 541-1000
(Registrant's telephone number, including area code)
ITEM: 5 OTHER EVENTS
The following is the text of a press release issued by the registrant at 4:52
P.M. Central Standard Time on March 7, 2002.
FOR RELEASE: Thursday, March 7, 2002
SIMMONS FIRST EXPANDS INTO MONTICELLO
Pine Bluff, Arkansas - - - J. Thomas May, Chairman, President and Chief
Executive Officer of Simmons First National Corporation (SFNC) and Cameron D.
McKeel, President and Chief Executive Officer of HEARTLAND Community Bank,
headquartered in Camden, Arkansas, announce the execution of a definitive
agreement under the terms of which HEARTLAND Community Bank will sell its
Monticello, Arkansas location to Simmons First Bank of South Arkansas, a
subsidiary of SFNC. The acquisition will involve approximately $9 million in
loans and $13 million in total deposits.
Commenting on the proposed sale, Freddie Black, President of Simmons First Bank
of South Arkansas stated, "We are excited about having this opportunity to
further expand the Simmons First philosophy of community banking throughout
Arkansas. Monticello is a dynamic community and complements our existing service
areas in Lake Village, Dumas and Dermott. HEARTLAND's management and associates
have done an outstanding job in developing this market. The same management and
staff will remain as part of the Simmons First team."
McKeel said, "The sale of this location will allow us to concentrate our efforts
on growing the Bank's other operating divisions as well as continuing to provide
the very best products and services to our customers in Camden, Bryant, Fordyce,
Sheridan and the surrounding areas. This transaction only involves the
Monticello branch location, in all other respects HEARTLAND will continue to
operate as usual. We are pleased that this transaction will have a positive
impact toward achieving the strategic goals of both Simmons First and
HEARTLAND."
The transaction is subject to regulatory approval from the Office of Thrift
Supervision, Federal Deposit Insurance Corporation and the Arkansas State Bank
Department. The transaction is expected to close during the third quarter of
2002.
Simmons First National Corporation is a $2.0 billion financial holding company
that has community banks in Pine Bluff, Jonesboro, Lake Village, Rogers,
Russellville, Searcy and El Dorado, Arkansas. The Corporation's seven banks
conduct financial operations from 64 offices in 33 communities throughout
Arkansas.
HEARTLAND Community Bank, which is owned by HCB Bancshares, Inc. conducts
business through its main office in Camden, Arkansas, and its five branch
offices located in Camden, Bryant, Fordyce, Monticello, and Sheridan, Arkansas.
# # #
FOR MORE INFORMATION CONTACT:
J. Thomas May Cameron D. McKeel
Chairman, President and President and
Chief Executive Officer Chief Executive Officer
Simmons First National Corporation HEARTLAND Community Bank
800-272-2212 870-836-6841
870-850-2605 (Facsimile) 870-836-2122 (Facsimile)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SIMMONS FIRST NATIONAL CORPORATION
Date: March 7, 2002 /s/ Barry L. Crow
--------------------- -------------------------------------------
Barry L. Crow, Executive Vice President
and Chief Financial Officer