Southern Bancorp Announces Agreement to Acquire Legacy Bank and Trust
Published on June 4, 2025
Southern Bancorp, a Community Development Financial Institution (CFDI), has agreed to acquire $1.9 billion Legacy Bank and Trust, expanding Southern Bancorp's assets to nearly $5 billion. The deal combines two mission-driven CDFIs serving underserved communities across the South, Missouri, Oklahoma, and Texas.
"We look forward to expanding our collective resources – and impact – to even more people and places who can benefit from them," said Southern Bancorp CEO Darrin Williams. The transaction, subject to regulatory approval, is expected to close in Q4 2025.