Community First Bancshares, the parent company of First State Bank, said Tuesday afternoon it will sell to an Arkansas holding company in a $243 million deal that will create a company with $6.8 billion in assets and operations from Kansas to Knoxville. First State runs eight Middle Tennessee branches — although only one (on West End Avenue) is located in the heart of Nashville — that have been among the company's main growth drivers.
The acquisition by Simmons First National Corp. (Ticker: SFNC) is expected to close late this year, but Simmons Chairman and CEO George Makris says his team doesn't expect to be changing signs anytime soon.
Some refining and transportation subsidiaries of Delek US Holdings have added three years to the crude oil supply and offtake agreement they have with J. Aron & Co., the commodities brokerage owned by Goldman Sachs. J. Aron will continue to supply crude to Delek's El Dorado, Ark., refinery and be the first-in-line buyer for refined products. The companies' new deal extends until April of 2017.
Officials with the Environmental Protection Agency and Delek US Holdings have been busy in recent days cleaning up about 5,000 barrels of oil that have spilled from a pipeline into the Little Cornie Bayou in southern Arkansas. Bloomberg reports that about a fifth of the spill still needs to be gathered and that Delek execs don't expect a major financial impact.
Cigna, the parent of local Medicare Advantage specialist HealthSpring, has completed the acquisition of several plans with members in Arkansas, Oklahoma and Texas from Arcadian Health and Humana, which are joining forces and were told by regulators to shed some operations. One thing has changed since the parties announced their deal last summer: The Fort Smith market straddling the Arkansas/Oklahoma market has also changed hands, adding 17 counties to the 18 in the original agreement. In all, about 4,500 people are being added to HealthSpring's rolls.
SEE ALSO: Cigna's HealthSpring set to acquire Texas, Arkansas operations from June