Simmons First National Corporation plans to close 26 bank branches by December 2026
Simmons First National Corporation announced in a September 3 filing that it will close 26 bank branches across its six-state footprint by December 4, 2026. The closures include six locations in Arkansas, specifically in Pine Bluff, Fort Smith, North Little Rock, Hot Springs, and Jonesboro. Simmons Bank expects the move to affect 100 employees, with the company aiming to retain at least 70% of those impacted through placement in other branch locations or alternative positions. The bank stated that the closures are part of a broader retail network strategy to align with customer preferences while maintaining service levels. The company expects to incur between $20 million and $23 million in pre-tax expenses related to the closures, which include real estate write-downs and professional services fees. Once fully implemented, the initiatives are expected to positively impact annual revenue by $37 million to $42 million. Customers at closing branches will be transferred to the nearest location as the bank increases its digital services.
Sources
-
123-year-old bank quietly closes 26 locations
thestreet.com
-
Simmons First to close 26 branches, including six in Arkansas
Talk Business & Politics
-
Simmons Bank to close 26 branches, including several in the Mid-South
FOX13 Memphis