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Frequently Asked Questions

Now that Spirit of Texas Bank is becoming a part of Simmons Bank, you’re sure to have questions. This Q&A begins to answer them, but more information will be headed your way the closer we get to conversion weekend, which is scheduled for April 8-11. We are committed to keeping you updated with information throughout this process.

Watch your mail. In early March, we will mail you a welcome guide that provides all the information you need for the transition of your account(s) and services. If you do not receive a copy of the guide, contact Spirt of Texas Bank Customer Service at 1-877-302-1836. Please make sure your contact information is up-to-date at your Spirit of Texas Bank branch so you do not miss this important information.

Q: Who is Simmons Bank?

A: The Simmons Bank story began in 1903 when we first opened for business in Pine Bluff, Arkansas. Since then we’ve been dedicated to working alongside local individuals and businesses in the communities we call home. Simmons Bank is the main subsidiary bank of Simmons First National Corporation (NASDAQ: SFNC), one of the largest publicly traded financial holding companies based in the region with nearly $25 billion in assets (as of December 31, 2021). Today, Simmons Bank has approximately 2,800 associates ready to serve you in locations throughout Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Although we’ve grown over the decades, our commitment to our customers and communities has not changed. We are a full-service financial partner offering banking products, credit cards, lending, treasury management, and more for both our personal and business customers. Customers also have access to investments,{125} trust{169} and insurance{169},{38} services.

Q: Why are Spirit of Texas Bank and Simmons Bank merging?

A: This merger is an excellent opportunity to combine two well-respected financial institutions with a history of providing exceptional service to our customers and a strong commitment to the communities we serve. Together we offer increased regional size and strength, a more sophisticated product mix, and more opportunities for our customers, associates and communities. As a reminder, please continue to contact Spirit of Texas Bank with any questions until conversion weekend. 

Q: How does the merger affect me?

A: Spirit of Texas Bank will continue its operations as usual until it is merged into Simmons Bank. The merger is expected to occur on Friday, April 8, 2022, with the system conversion taking place over the weekend. Before conversion weekend, customers will receive welcome packets and other communications with details on what to expect regarding the bank conversion. You should receive this in early March. After conversion weekend, any product or service changes will be in effect, and those will have been communicated beforehand. For now, there are no changes to bank accounts, deposits, loans and/or other services. You should continue your banking business as usual, using the same Spirit of Texas Bank products and services.

Q: Will my products and services stay the same?

A: It is business as usual until conversion weekend. Any changes to your products and services will be communicated prior to the merger. Our goal is to make any changes as seamless as possible for our customers.

Q: I have a Heritage Checking account. Will my interest rate change?

A: We are happy to share that there has been a positive adjustment to the information you received in the welcome book regarding Heritage Checking accounts. Simmons Bank has been able to match the 0.20% interest rate and APY on this product through July 31, 2022. All other new account features for this product will remain as outlined on page 14 of the welcome book.

Q: Can I still use my Spirit of Texas Bank checks and debit card?

A: For now yes, please continue to use your Spirit of Texas Bank checks and debit card. We will send you a new Simmons Bank debit card by March 30 to use after our banks have merged.

Q: Will the maturity date or interest rate of my CD be affected?

A: No. The maturity date, interest rate, and annual percentage yield (APY) of your CD or IRA will remain the same. If your CD interest disbursement method is by check, your method of interest disbursement will change. Instead of receiving a check, we will offer three other methods to receive your CD interest disbursement: credit to a Simmons Bank account, automatic transfer to another financial institution or credit to the CD. Your interest disbursement method after conversion will default to credit to your CD. If you prefer one of the other methods, you will have an opportunity to request the change either prior to or after conversion.

Q: Does this change the terms and conditions of my loan?

A: No. The terms and conditions of your loan will remain the same.

Q: What do I do if I have a loan in process?

A: This does not change any loans in process. Please reach out to the associate you have been working with directly if you have any questions.

  • {125} Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Simmons Bank is not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using the marketing name Simmons Investment Services, and may also be employees of Simmons Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Simmons Bank. Securities and insurance offered through LPL or its affiliates are:

  • {124} Securities and Insurance offered through LPL and its affiliates are: Not Insured By FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value

  • {38} Insurance services are offered by Simmons First Insurance Services, Inc. and Simmons First Insurance Services of TN, LLC, licensed insurance agencies.

  • {169} Investment and Insurance Products are: Not a Deposit | Not FDIC Insured | Not Insured By Any Federal Government Agency | Not Bank Guaranteed | May Lose Value