Some Landmark Bank positions to be eliminated after merger

3 weeks 6 days 7 hours ago Thursday, October 17 2019 Oct 17, 2019 Thursday, October 17, 2019 5:01:00 PM CDT October 17, 2019 in News
By: Ian Russell, KOMU 8 News
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COLUMBIA - Simmons Bank, the Arkansas-based bank which bought Landmark Bank over the summer, confirmed some positions will be eliminated.

In an e-mail to KOMU 8 News on Thursday, a spokeswoman for Simmons said the following:

"As with any merger, we evaluated the most effective way to run the combined bank. After thoughtful consideration about how to best continue to serve Landmark customers, we made the difficult decision to reduce overlapping or replicated positions. These are primarily duplicated back-end, non-customer-facing positions, so customers will continue to work one-on-one with bankers they’ve come to know and trust."

No numbers or timeline for the reductions and changes have been confirmed.

Simmons bank will acquire The Landrum Company, which owns Landmark Bank, at the end of 2019. The official merger of Landmark Bank will take place the first half of 2020. After the Landrum Company closes, Landmark Bank will continue some operations as a separate bank for a short interim period until it has officially merged with Simmons Bank. 

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