First National Bank expanding with acquisition of Citizens Bank in Tennessee
PARAGOULD, Ark. (KAIT) - First National Bank announced Wednesday it will expand into the Nashville, Tennessee market after signing an agreement to acquire Citizens Bank.
Citizens Bank is based in Hartsville, according to a news release, with locations in Gallatin and Hendersonville, Tenn.
When the acquisition is complete, First National Bank will operate 23 locations in Arkansas and Tennessee.
“This is a landmark day for our bank,” said Will Brewer, FNB’s vice chairman. “For the first time, First National Bank expands outside the borders of Arkansas, and Tennessee is the right place for us.”
Before the deal is finalized, FNB must gain regulatory approval and close on the acquisition, valued at $288 million.
“We can’t wait to welcome the staff and customers of Citizens Bank to the First National Bank family,” said Donald Guinn, president and CEO of FNB.
First National Bank was established in 1889 and is based in Paragould.
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