On October 14, 2016, Batesville, Arkansas-based First Community Bancshares, Inc. (“FCB”) announced that it had entered into a stock purchase agreement (“Agreement”) with Lepanto, Arkansas-based Little River Bancshares, Inc. (“LRBI”), the parent company of Little River Bank (“LRB”), in which FCB will acquire LRBI. Terms of the Agreement were not disclosed. Mercer Capital served as a financial advisor to LRBI.
Harry “Tri” Watkins, Chairman of LRBI, said, “We have worked with Mercer Capital and Jeff Davis the past two years to evaluate the best course of action for LRBI and LRB in order to realize value for shareholders in what is a challenging operating environment for small banks. Our Board and I appreciate their thoughtful insight about shareholder value creation, the banking industry, the market for banks and FCB.” The transaction is expected to be consummated by year-end.
For additional information, please contact:
Jeff K. Davis, CFA
Managing Director – Financial Institutions Group
Andrew K. Gibbs, CFA, CPA/ABV
Senior Vice President – Depository Institutions