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Southern Bancorp to Acquire Premier Bank

On Monday, January 31st, Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, announced it has entered into a merger agreement to acquire FCB Financial Services, Inc. and its wholly owned subsidiary, Premier Bank of Arkansas, a $200 million asset bank with three branches operating in Marion, West Memphis, and Jonesboro, Arkansas. The deal is expected to close in the second quarter of 2022. It will increase the number of Southern Bancorp locations across Arkansas and Mississippi to 54.

Premier Bank, a subsidiary of FCB Financial Services Inc., was founded in 1998 by a group of about 170 local investors with an initial investment of $3.8 million.

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