BusinessSeptember 26, 2022
Southern Bank buys Citizens
Southern Missouri Bancorp Inc., based in Poplar Bluff, Missouri, for the second time in five years, has acquired another bank. Southern Missouri Bancorp, parent of Southern Bank, said last week it has bought Citizens Bancshares, parent of Citizens Bank and Trust Company, for stock and cash...
Southern Missouri Bancorp Inc., based in Poplar Bluff, Missouri, for the second time in five years, has acquired another bank.
Southern Missouri Bancorp, parent of Southern Bank, said last week it has bought Citizens Bancshares, parent of Citizens Bank and Trust Company, for stock and cash.
Southern currently has 40 Missouri locations, including five in Poplar Bluff, two each in Cape Girardeau and Dexter, and single branches in Jackson, Advance and Sikeston.
Southern Missouri Bancorp also has locations in Arkansas, Illinois and Kansas.
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Citizens has 14 Missouri branches, including Kansas City and St. Joseph.
When completed, the newly-merged company will operate a total of 65 locations.
Southern and Citizens, in a statement, say they expect the transaction to close early in 2023.
In 2017, Southern Missouri Bancorp acquired Tennecorp, parent of Capaha Bank.
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