Bank of the Ozarks Acquires The First National Bank of Shelby

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By , Staff Writer
Posted on Fri Jan 25, 2013, Last Updated on Fri Jan 25, 2013

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Bank of the Ozarks, based in Little Rock, Ark., has agreed to acquire The First National Bank of Shelby, based in Shelby, N.C., for roughly $67.8 million.

“Customers of First National Bank can expect local decision making and the same quality of friendly hometown banking they have long enjoyed, in addition to benefiting from a broader range of financial services,” said George Gleason, chairman and CEO of Bank of the Ozarks, in a prepared release.

First National Bank’s 14 branches, $857 million in total assets and $652 million in deposits will merge with Bank of the Ozarks upon the closing of the transaction, which is expected for the second or third quarter of 2013.

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  • John Smith

    There is a reason for the purchase by Ozark.
    The bank is failing! Bad management for years!
    They will place their insurance on your property on a heartbeat also.
    Stay away!