Management at the company that merged this summer with Landmark Bank said Thursday that some Landmark employees will lose their jobs.
Simmons First National Corp. announced in July that it would merge with the Landrum Co., the company that owns Landmark Bank.
Simmons First National chief administrative officer Stephen Massanelli said the company laid off workers with redundant jobs. A former Landmark worker told ABC 17 News that the layoffs will start Oct. 31.
“After thoughtful consideration about how to best continue to serve Landmark customers, we made the difficult decision to reduce overlapping or replicated positions,” Massanelli wrote in an email.
Arkansas-based Simmons acquired all remaining shares of the Columbia based Landrum Company in July.
“There are primarily duplicated back-end, non-customer-facing positions, so customers will continue to work one-on-one with bankers they’ve come to know and trust,” Massanelli said.
Massanelli said the merged companies “are committed to ensuring the outstanding service our customers have come to expect does not change.”
Landmark Bank has 39 branches across Missouri in addition to locations in Oklahoma and Texas.
“As with any merger, we evaluated the most effective way to run the combined bank,” Massanelli said.
Check back or watch ABC 17 News at 6 for more on this developing story.