(Talk Business & Politics Report) Mountain View-based Stone Bancshares announced Wednesday (Dec. 21) that it has signed a definitive agreement with The Combs family of Missouri.
Terms of the private transaction were not disclosed.
The agreement will allow the Combs family to acquire Stone Bancshares Inc. and its subsidiary bank, Stone Bank, in a cash transaction.
Stone Bank was launched in 2009 when a group of Stone County investors purchased the Bank of Altheimer and relocated its charter to Mountain View, Arkansas.
The bank now operates from six locations in Mountain View, White Hall, Little Rock, Harrison, DeWitt, and Gillett, Arkansas. Stone Bank also has a nationwide presence in government-guaranteed lending through the USDA, SBA and FSA.
As of November 30, 2022, Stone Bank had total assets of $650 million and 116 employees.
The Combs Family also owns First Community Bank of the Ozarks with locations in Branson, Forsyth, and Hollister as well as Table Rock Community Bank locations in Branson West, Crane, and Kimberling City.