This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Southern Missouri Bancorp And Ozarks Legacy Community Financial Announce Agreement To Merge

Poplar Bluff, MO, June 21, 2013 (GLOBE NEWSWIRE) -- Southern Missouri Bancorp, Inc. (NASDAQ: SMBC, "Southern Missouri"), the parent corporation of Southern Bank, and Ozarks Legacy Community Financial, Inc. ("Ozarks Legacy"), the parent corporation of Bank of Thayer, today announced the signing of a definitive merger agreement whereby Southern Missouri will acquire Ozarks Legacy in an all-cash transaction valued at approximately $6.2 million, subject to certain adjustments for transaction expenses and Ozarks Legacy equity at closing.  Southern Bank will also assume approximately $3.7 million in debt outstanding, plus accrued interest.  Additionally, Southern Bank has entered into a definitive merger agreement with the Bank of Thayer whereby Bank of Thayer will be merged into Southern Bank in an all-cash transaction valued at approximately $262,000 for the minority shareholders of Bank of Thayer. 

The Bank of Thayer operates four branches in Oregon and Howell counties in south central Missouri.  In West Plains, Missouri, the Bank of Thayer conducts business under the name Howell County Bank.  After the acquisition, the combined company's total assets will approximate $877 million, with total loans of $656 million and total deposits of $701 million.  The combined company will operate 22 branches in southern Missouri and northeast and north central Arkansas.

"We are very pleased with the opportunity to expand our network into Thayer, West Plains, and Alton, Missouri," stated Greg Steffens, President and CEO of Southern Missouri.  "We have a business model that has proven successful in meeting the financial needs of borrowers and depositors in communities similar to these, and we look forward to welcoming Bank of Thayer employees and customers to our Southern Bank family."

Roger Lonon, President and CEO of Bank of Thayer, will remain with the combined entity in the role of Community Bank President for the region.  "Southern Bank is a strong community bank that is community focused, customer service driven, offers the latest in technology and takes pride in providing personalized service to the individual markets they serve.  This merger will allow us to expand our product and service lines, offer convenient locations to our customers throughout southern Missouri and northern Arkansas and increase our lending limits, providing excellent future benefits for our customers," said Lonon.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.69 -0.59%
FB $119.49 1.43%
GOOG $711.11 1.40%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs