Bank of the Ozarks Acquires The First National Bank of Shelby


Updated on Fri Jan 25, 2013

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!