Simmons Bank hires Bear State exec as Springfield president

Simmons First National Corp. (Nasdaq: SFNC) hired a Bear State Financial Inc. (Nasdaq: BSF) executive from Arkansas as president of its Springfield market.

Doug Parker, who is relocating to Springfield from northwest Arkansas, starts in the role today, according to a news release. He previously worked as senior vice president and corporate banking officer for Bear State in Rogers, Arkansas, according to his LinkedIn page.

“His extensive knowledge in all areas of banking combined with his proven leadership ability will bring significant value to our customers in Springfield,” said Gary Metzger, Simmons’ Missouri/Kansas regional chairman, in the release.

A nearly 20-year banking veteran, Parker has past experience at Bank of the Ozarks and Regions Bank.

Pine Bluff, Arkansas-based Simmons Bank ranked sixth on Springfield Business Journal’s 2016 list of the area’s largest banks and savings banks with local deposits of $369.3 million. The company also reported $661.6 million in assets, $493.5 million in loans and $9.9 million in net operating income in the Springfield metropolitan statistical area as of June 30, 2016, according to SBJ list research.

The acquisition-heavy Simmons Bank, known locally for purchasing Liberty Bancshares Inc. and Ozark Trust and Investment Corp., posted 2016 net income of $96.8 million, a 30.6 percent increase from 2015.

SFNC shares were trading at $59.30 as of 8:58 a.m., compared with a 52-week range of $41.50 to $67.