Jonesboro Bank May Merge with Other Arkansas Financial Institutions

JUNE 10, 2005 - Posted at 4:37 p.m. CDT

JONESBORO, AR - According to a Mid-South business publication, Liberty Bancshares, Inc. is considering the Liberty Bank of Arkansas at Jonesboro with the Liberty Bank of Arkansas at Siloam Springs.

According to the Memphis Business Journal, the company's application for merger to the State Bank Department this week comes ten months after Liberty Bancshares acquired the Siloam Springs bank, formerly known as Arkansas State Bancshares, in a joint deal with Russellville Bancshares Inc., also of Jonesboro.

Liberty Bank of Jonesboro has $752 million in deposits and $907 in assets according to the FDIC.  The bank has seven branch banks in the Jonesboro area.

A spokesman for the Jonesboro bank confirmed the merger application for K8 News.