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Little Rock-based Southern Bancorp has agreed to acquire Ozarks Heritage Financial Group Inc. and its subsidiary, Legacy Bank and Trust, a $1.9 billion asset with headquarters in Springfield, Missouri.
What is legacy banking?
Legacy core banking systems are often decades old, mainframe based platforms that support a banks back end operations across core functions such as account opening, account set up, transaction processing, deposits processing, loan processing and more.
What happens to a bank account after a merger?
Most likely, your account numbers will change in which case youll need to replace any cards you have and cancel any automatic payments. Additionally, you can often anticipate changes to the banks fee structures and interest rates.
Who took over Legacy Bank?
Southern Bancorp, a Community Development Financial Institution (CFDI), has agreed to acquire $1.9 billion Legacy Bank and Trust, expanding Southern Bancorps assets to nearly $5 billion.
What bank is Legacy Credit Card?
We will help you get started on your path to financial freedom with Legacy Visa credit card by First National Bank.
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LNB is a wholly-owned subsidiary of Legacy Bancshares, Inc., a one-bank holding company. As of May 1, 2021, LNBs former sister bank, Bank of Gravette, merged with LNB.
When did Prosperity Bank buy Legacy bank?
In November 2019, Prosperity Bank agreed to acquire the bank and the acquisition was completed in 2020, with all facilities now branded as Prosperity Bank.
Who is Heritage Bank affiliated with?
In case you missed it, Peoples Choice and Heritage Bank merged in March 2023 to create one of Australias largest customer-owned banks People First Bank.
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