Bear State Financial, Inc. Announces Receipt of Required Regulatory Approvals for Merger with Arvest Bank
BEAR STATE FINANCIAL INC (BSF)
US:NASDAQ Investor Relations:
bearstatefinancial.com
Company Research
Source: Business Wire
LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Bear State Financial, Inc. (“Bear State”) (NASDAQ: BSF), parent company of Bear State Bank, and Arvest Bank (“Arvest”) announced today they have received all required regulatory approvals for the previously-announced merger between the parties. Shareholders of Bear State previously approved the merger at a meeting held on November 15, 2017. Bear State and Arvest anticipate closing the merger on or about April 20, 2018, subject to customary closing conditions. To satisfy the conditions imposed by the Federal Reserve’s order of approval, Bear State has entered into an agreement with First Financial Bank of El Dorado, Arkansas to sell both of the Bear State Bank branches located in Mena, Arkansas. The two Mena branches had deposits totaling approximately $58 million and loans totaling approximately $30 million as of February 28, 2018. The closing of the sale of the Mena branc
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