Big Creek Bancshares Inc. has signed an agreement to acquire Tyronza Bancshares Inc.
The transaction, which is pending regulatory approval, will see Big Creek Bancshares (the parent company of Armor Bank) purchase Tyronza Bancshares and First Delta Bank. The transaction is expected to be finalized in the second quarter of 2019.
First Delta Bank will become a subsidiary bank of Big Creek Bancshares. However, the banks will operate independently until the first quarter of 2020, when First Delta Bank branches will transition to Armor Bank branches.\
“Armor Bank has taken great pride in serving eastern Arkansas customers for more than a century and we are delighted to welcome First Delta’s clients and its employees into the Armor family. First Delta has a longstanding tradition of being a true community banking partner in the markets that they serve. The alignment of our core values of client service, along with our offerings of enhanced digital banking capabilities and strong client-focused banking team, will help us continue to serve and give back to the communities we operate in,” Armor Bank President and CEO Chad May said.
As of March 31, 2019, Armor Bank has $90.5 million in assets. Meanwhile, First Delta Bank has $59.6 million in assets as of the same date.