Little Rock-based Southern Bancorp has agreed to acquire Ozarks Heritage Financial Group Inc. and its subsidiary, Legacy Bank and Trust, a $1.9 billion asset with headquarters in Springfield, Missouri.
“We are excited to welcome the Legacy team, its customers, and its communities to Southern Bancorp,” said Darrin Williams, CEO of Southern Bancorp, Inc. “For nearly four decades, our purpose and principles have centered around ensuring everyone in our communities has access to the capital, tools, and services needed to build wealth and achieve financial opportunity. With the addition of the phenomenal team at Legacy, we look forward to expanding our collective resources – and impact – to even more people and places who can benefit from them.”
Legacy Bank and Trust now operates in 10 locations across Missouri, Oklahoma and Texas, with a staff of nearly 200.
“Today marks an exciting milestone for Legacy and stands as a testament to the exceptional work of our community-focused team,” said John Everett, president and CEO of Legacy. “Their unwavering commitment to serving our customers with compassion and professionalism has brought us to this moment. With the expanded resources and shared mission of Southern Bancorp, I’m confident we’ll achieve even greater impact in the communities we serve.”
The acquisition remains subject to regulatory and shareholder approval. Barring complications, it is expected to close in the fourth quarter of 2025. JPMorgan Chase served as Southern Bancorp’s financial advisor, and Nelson Mullins served as legal advisor. Stephens Inc. served as financial advisor, and Stinson, LLP served as legal counsel to Ozarks Heritage Financial Group, Inc. Terms of the transaction are not being disclosed.
Photo Credit: Legacy Bank and Trust on Facebook
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