CEFCU ENTERS INTO AGREEMENT WITH SIMMONS BANK TO PURCHASE FOUR BRANCHES

Peoria, IL and Pine Bluff, AR – Citizens Equity First Credit Union (“CEFCU”) and Simmons

Bank (“Simmons”) have entered into an agreement pursuant to which CEFCU will purchase four

Simmons Bank branches located in the Metro East area of Southern Illinois, near St. Louis. Select

loan and deposit accounts, along with non-deposit product relationships, are included in the purchase.

Subject to the approval of the purchase by the appropriate state and federal regulatory

agencies, CEFCU expects the transition to occur in the first quarter of 2021. Customers of the four

Simmons’ branches will receive communications from CEFCU and Simmons Bank with additional

information about the change.

“CEFCU has a longstanding history of success and growth through improving the financial

well-being of members and the communities we serve. We’re excited to expand the opportunities for

more individuals to experience the benefits of CEFCU membership,” said CEFCU CEO & President

Mark Spenny. 

“We are pleased about the opportunity this transaction provides our Illinois customers and

associates and believe the partnership with CEFCU will be very beneficial for all stakeholders,”

said George Makris, Jr., President & CEO of Simmons Bank.

These four additional branches bring CEFCU’s total locations to 31 throughout Illinois and

California.

About CEFCU

With assets totaling over $6.9 billion, CEFCU serves nearly 355,000 members through 26 Illinois

Member Centers and 5 California Member Centers, the CEFCU Financial Center, the Money Center

24 ATM Network, CEFCU’s website, cefcu.com, the surcharge-free CO-OP ATM Network, and the CU

Service Center Shared Branch Network.

About Simmons Bank

Simmons Bank is an Arkansas state-chartered bank that began in 1903. Through the decades,

Simmons Bank has developed a full suite of financial products and services designed to meet the

needs of individual consumers and business customers alike. Simmons Bank has grown steadily and

today assists customers from more than 200 branch locations. Simmons Bank is the subsidiary bank

for Simmons First National Corporation (NASDAQ: SFNC), a publicly traded bank holding company

headquartered in Pine Bluff, Arkansas, with total consolidated assets of $21.4 billion as of September

30, 2020. For more information, visit simmonsbank.com.

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