Alston & Bird client Community & Southern Holdings, Inc. (CSB), has signed a definitive agreement and plan of merger with Bank of the Ozarks, Inc., valued at about $799.6 million.
The acquisition, both in total assets and in purchase price, is the largest ever by an Arkansas bank.
Under the agreement, Bank of the Ozarks, Inc., will acquire CSB and its wholly owned bank subsidiary, Community & Southern Bank, in an all-stock transaction pending certain closing conditions and shareholder approvals.
Established in 2010, CSB has more than $4.4 billion in assets and has made 14 acquisitions that have given it 47 branch locations in Georgia and one in Jacksonville, FL. Most recently, CSB acquired certain CertusBank branches on October 9, 2015, another deal that Alston & Bird acted on for CSB.
Advising CSB is an Alston & Bird team led by partner Mark Kanaly, assisted by partners Andy Immerman (Tax), Lesley Solomon (Financial Services & Products) and Blake MacKay; counsel Kerry Wenzel (Employee Benefits & Executive Compensation); senior associates Bo Griffith and Rebecca Valentino and associates Will Hooper and Sarah McElroy (Financial Services & Products).