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We see people seizing opportunities, building communities, and achieving their dreams right in their hometowns. That’s why we provide services, resources, and tools that help you accomplish what you want, where you want. The deal, if approved by regulators and shareholders, would make a combined banking institution with $4.7 billion in assets. Brandon Taylor, Legacy Bank & Trust’s chief financial officer, said officials expect a closing by the first quarter 2026. This link takes you to the login portal for your Southern Bank credit card. The portal is provided by our trusted partner, Elan Financial Services, who is the creditor and issuer of our credit cards.
Southern Bancorp acquires Legacy Bank & Trust
Taylor would not disclose the terms of the planned acquisition; however, a March call report on the Federal Deposit Insurance Co.’s website puts Legacy Bank & Trust’s equity capital at $219 million. Southern Bancorp Bank has 56 locations across the south and holds $2.8 billion in assets. Legacy Bank & Trust, with $1.9 billion in assets, has nine locations in Missouri, Oklahoma and Texas. From starting your first checking account to buying your first home, we’re here to help you every step of the way.
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Stephens Inc. served as financial adviser and Stinson LLP served as legal counsel to Ozarks Heritage Financial Group Inc. The acquisition, which is subject to regulatory and shareholder approval, is expected to close in the fourth quarter of 2025. JPMorgan Chase served as financial advisor and Nelson Mullins served https://p1nup.in/ as legal advisor to Southern Bancorp in connection with the transaction. Stephens Inc. served as financial advisor and Stinson, LLP served as legal counsel to Ozarks Heritage Financial Group, Inc. From our mission to our markets, Southern Bancorp is a different kind of bank.
- Whether you are looking for checking, savings or lending, our wide range of services are designed to help you achieve your financial goals.
- Legacy Bank & Trust, with $1.9 billion in assets, has nine locations in Missouri, Oklahoma and Texas.
- Brandon Taylor, Legacy Bank & Trust’s chief financial officer, said officials expect a closing by the first quarter 2026.
- Please note, the privacy and security policies of Banzai differs from ours.
Southern Bancorp Bank pens deal to acquire Legacy Bank & Trust
While we have partnered with Banzai to provide educational content, Southern Bank is not responsible for the content, products, or services on the external site. Please note, the privacy and security policies of Banzai differs from ours. Taylor noted no branch closures are anticipated in the deal as there is no market crossover between the two institutions. Whether you are a large company, small business or sole proprietor, we have an account for you that best meets your needs. Our checking accounts are designed to fit your lifestyle, offering unmatched flexibility, security, and rewards to help you manage your money with ease.
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- We see people seizing opportunities, building communities, and achieving their dreams right in their hometowns.
- Southern Bank is not responsible for and does not guarantee the content of, or products/services provided by, this third-party site.
- While we have partnered with Banzai to provide educational content, Southern Bank is not responsible for the content, products, or services on the external site.
- Our checking accounts are designed to fit your lifestyle, offering unmatched flexibility, security, and rewards to help you manage your money with ease.
Taylor said Legacy and Southern executives first met at a community development financial institution forum in June 2016. Both banks are CDFIs, which are lenders with a mission to provide financing and support to underserved communities. Founded in 1986, Southern Bancorp is one of America’s oldest and largest CDFIs and blends traditional banking products with a slate of financial development services beyond the typical banking mold. JPMorgan Chase served as financial adviser and Nelson Mullins served as legal adviser to Southern Bancorp in connection with the transaction, according to the release.
Focusing on underserved communities, Southern combines traditional banking and lending services with financial development tools and public policy advocacy to help families and communities grow stronger. Whether you are looking for checking, savings or lending, our wide range of services are designed to help you achieve your financial goals. Trust us to provide the support and solutions you need for a brighter financial future. Let’s talk about how our banking resources can help you achieve your goals.