It's another community bank deal with Simmons First (SFNC) winning bankruptcy court approval to buy Metropolitan National Bank from Rogers Bancshares for $53.6M in cash.
MNB has assets of $991M - including loans of $484M - and deposits of $862M. Total equity foots to $62M, with a Tier 1 leverage ratio of 6.46%.
Raymond James and Stephens both upgrade Simmons to Buy in lieu of what appears to be an accretive deal.
OBA and Ocean Shore Holding (OSHC) are two tapped by SA author Chris DeMuth (OBAF here, OSHC here) as having takeout potential at a significant premium to their current prices following the end of a 3-year moratorium on their sales.