DECATUR — Decatur State Bank will have a new owner if the Federal Reserve Board approves.
Mathias Bancshares, owner of First State Bank of Northwest Arkansas, wants to purchase all shares of Decatur State Bank from owner Peterson Holding Company.
The holding company ownsall the stock in Decatur State Bank and Grand Savings Bank. Decatur State Bank is in Decatur with branches in Siloam Springs and Gentry. Grand Savings Bank is in Grove, Okla., and has a branch in Jay, Okla.
The proposal only deals with Decatur State Bank, leaving all shares of Grand Savings Bank to Peterson Holding Company.
The holding companies came to an agreement April 12 and anticipate a closing date in the next three to four months. Terms of the proposal were not released.
Sam Mathias, chairman and president of Mathias Bancshares said in a news release he intends to keep the bank staff intact and customers should not notice many changes in the transition.
News, Pages 1 on 04/25/2012