ARKADELPHIA—Southern Bancorp recently completed the acquisition of Timberland Bank of El Dorado, a $140 million community bank in south central Arkansas.
Southern Bancorp named Scott Fife, a banker with over 20 years of experience, President of the El Dorado market.
This acquisition not only preserves access to financial services for thousands of south Arkansas residents, but also anchors Southern Bancorp’s rural development model in this region of Arkansas, said Phil Baldwin, President and Chief Executive Officer of Southern Bancorp.
“We are excited to welcome the staff and customers of Timberland Bank to the Southern Bancorp family and are equally pleased to be a part of the El Dorado community,” Baldwin said. “As a community development financial institution, Southern provides not only financial services but also a commitment to people and places we serve. We look forward to partnering with El Dorado residents in the continued development of their community.”
Southern Bancorp is a $740 million rural development bank holding company with banking operations in Arkansas and Mississippi working to transform rural economies by stimulating investments in people, jobs, businesses, and property.