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Simmons Bank to invest $15M in STL

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Simmons Bank pledged $15 million in St. Louis investments after the purchase of Des Peres-based Reliance Bank.

Arkansas-based Simmons plans to open a retail branch in a low-income minority neighborhood, spend $500,000 investing in the Gateway Neighborhood Mortgage loan fund, set small-business loan goals and put aside $60,000 a year for charities.

The three-year agreement was reached with the St. Louis Equal Housing and Community Reinvestment Alliance.

Read more from the St. Louis Business Journal.

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