Chambers Bank to merge DSB

— Officials of Chambers Bancshares, Inc., and Chambers Bank, headquartered in Danville, announced Dec. 5 that Chambers has filed applications with the Arkansas State Bank Department and the Federal Deposit Insurance Corporation to merge Decatur State Bank into Chambers Bank. The merger is anticipated to be completed in the second quarter of 2014, pending all required regulatory approvals.

The merger will complete a series of transactions that began in the fourth quarter of 2012 when Chambers Bank received majority ownership of Peterson Holding Company, which owned 100 percent of the stock of Decatur State Bank and Grand Savings Bank in Oklahoma. Grand Savings Bank was subsequently sold and Decatur State Bank remained a subsidiary of Chambers Bank.

"Our plan has been to merge Decatur State Bank into Chambers Bank in order to create efficiencies throughout the CBI organization," stated John Chambers, chief executive officer of Chambers Bank. "The customers and communities that Decatur State Bank serves fit well with our existing branch franchise. Merging the two banks will allow us to expand products and services offered to Decatur customers and increase their branch footprint with the Chambers Bank locations for added convenience, particularly in Benton and Washington Counties. We look forward to welcoming the Decatur bank employees and their customers to the Chambers Bank family."

Decatur State Bank customers should continue to conduct their banking business at Decatur branch locations as they have in the past until they receive more information from Chambers Bank with details about the merger.

"It is business as usual," continued Chambers. "We want to assure the Decatur employees, customers and the communities that are served by Decatur State Bank that Chambers prides itself on being a vital part of our communities and we look forward to continuing that tradition in the Decatur markets."

Established in 1930, Chambers Bank is a family-owned community bank with over 20 locations in Arkansas and over $750 million in consolidated assets.

General News on 12/11/2013