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Arkansas State Bank Department

The mission of ASBD is to maintain a legal and regulatory structure for Arkansas's financial industry. This structure provides the public with convenient, safe and competitive banking, which fosters economic development within this State. Our mission is accomplished through efficient allocation of available human and other resources existing in our Examination, Information Technology and Administrative Services Divisions.

Termination of Order - Simmons Bank - Pine Bluff Branch

Oct 9th, 2023

THE ARKANSAS BANK COMMISSIONER

 

 

 

IN THE MATTER OF

A BRANCH OF SIMMONS BANK

PINE BLUFF, JEFFERSON COUNTY, ARKANSAS LOCATED IN

LITTLE ROCK, PULASKI COUNTY, ARKANSAS

 

TERMINATION OF ORDER

 

In accordance with A.C.A. § 23-46-212, the Arkansas Bank Commissioner, with the consent of the Governor, declared a State of Emergency in Pulaski County, Arkansas, on April 5, 2023, due to the severe storms and tornadoes which occurred on March 31, 2023. On April 5, 2023, the Arkansas Bank Commissioner declared that Simmons Bank, Pine Bluff, Arkansas, has been significantly impacted and normal business operations could not be conducted at the Simmons Bank's branch located at 10300 N Rodney Parham Road, Little Rock, Arkansas, because it was severely damaged by a tornado on March 31, 2023. Therefore, the Arkansas Bank Commissioner issued an ORDER, pursuant to the authority granted by A.C.A. §23-46-212(d)(l)(B), for Simmons Bank, Pine Bluff, Arkansas, to close its branch at 10300 N Rodney Parham Road, Little Rock, Arkansas, for a reasonable amount of time. The ORDER was effective for one hundred and twenty (120) days or until terminated by the Bank Commissioner, and was extended a further sixty (60) days from the original August 3, 2023 termination by an amended order dated July 26, 2023.

 

On Monday, October 2, 2023, Simmons Bank, Pine Bluff, Arkansas resumed normal business operations at the branch at 10300 N Rodney Parham Road, Little Rock, Arkansas. Therefore, the ORDER issued on April 5, 2023, and the July 26, 2023, Amendment to the ORDER for the closure of the branch are hereby terminated.

 

SIGNED and DATED at Little Rock, Arkansas this 5th day of October 2023.

 

Susannah T. Marshall

Bank Commissioner


  


 

 

 

 

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The Great Seal of Arkansas

The State Bank Department was created by Act 113 of 1913. The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas. These 73 banks hold assets of over $161 billion as of December 31, 2023. The Department also is charged with supervising the bank holding companies of Arkansas state-chartered banks; state-chartered trust companies; regional and county industrial development corporations; industrial loan institutions; and capital development companies. The Department operates to ensure the safety and soundness of, and public confidence in, these institutions and organizations.


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