Now that Landmark Bank is becoming a part of Simmons, 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 Feb. 14-18. We are committed to keeping you updated with information throughout this process.
Watch your mail. In mid-January, 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 Customer Service at 1-800-618-5503. Please make sure your contact information is up-to-date at your Landmark 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 approximately $17.8 billion in assets (as of Sept. 30, 2019). Today, Simmons Bank has approximately 2,700 associates ready to serve you in locations throughout Arkansas, Colorado, Illinois, 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, investments, trust and insurance38 services and more for both our personal and business customers.
Q: Why are Landmark 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 opportunities for our customers, associates and communities that wouldn’t be possible separately.
Q: How does the merger affect me?
A: Landmark Bank will continue its operations as usual until it is merged into Simmons Bank. The merger is expected to conclude on Tuesday, Feb. 18, 2020, with the system conversion taking place during Presidents' Day 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 mid-January. 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 Landmark Bank products and services.
Q: Will my products and services stay the same?
A: For the next several months, it is business as usual. Any account changes to your products and services will be communicated in a welcome packet prior to the merger. Our goal is to make any changes as seamless as possible for our customers.
Q: Can I still use my Landmark Bank checks and debit card?
A: For now yes, please continue to use your Landmark Bank checks and debit card. We will notify you closer to the merger date of any changes in regards to your checks and new debit card.
Q: Will my CD or IRA be affected?
A: No. The terms and conditions of your CD or IRA will remain the same.
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.
Q: What if I have investment services38 through Landmark Investments?
A: The Landmark Investments team is available to assist with any investment or service needs during this transition. Please feel free to reach out to them directly at 573-499-7301. For now, it's business as usual. More information will be mailed to you prior to the conversion.
Q: What if I have a trust38 or portfolio management account through Landmark Bank's Wealth Management area?
A: If you are a Wealth Management customer of Landmark Bank, it is business as usual for now. Your statements will continue to show the Landmark Bank logo until the February statement, when you will begin receiving account statements marked with the Simmons Bank Trust Department logo. The Landmark Wealth Management accounting system will transition to Simmons' accounting system Oct. 31, 2020.