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
“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
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.
# # #