Representation of Simmons First National Corporation in Successful Bid to Acquire Metropolitan National Bank
Patrick A. Burrow represented Simmons First National Corporation in its successful bid to acquire Metropolitan National Bank of Little Rock through a bankruptcy court supervised auction in a transaction valued at $53.6 million. Metropolitan National Bank of Little Rock had 45 offices in Arkansas. Simmons First National Corp. combined Metropolitan with its flagship bank, Simmons First National Bank, growing Simmons First National Bank by nearly 50%. It is believed this is the first time an outside bidder prevailed over a stalking horse bidder in a bankruptcy court auction for a bank.