Southern Bancorp Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, has announced the successful closure of its deal to acquire Ozarks Heritage Financial Group Inc., and its wholly owned subsidiary, Legacy Bank & Trust, a $1.9 billion asset CDFI headquartered in Springfield, Missouri.
The deal will create a nearly $5 billion asset CDFI with an expanded footprint and enhanced capacity to serve customers and communities.
“We are thrilled to welcome Legacy Bank & Trust’s outstanding team to Southern Bancorp,” said Darrin Williams, CEO of Southern Bancorp. “For 40 years, our work has centered around a mission to ensure everyone has access to the capital and resources needed to build generational wealth and achieve economic opportunity. By combining our unique purpose and people alongside the tools and talent at Legacy, our capacity for impact will be greater than ever, and we look forward to putting that impactful growth to work for more families, businesses and communities across the region.”…