Ark Financial Holding, Inc. to Acquire Cooper Lake Financial Corp.

The transaction is expected to close after receiving approval from Cooper Lake shareholders and the necessary regulatory authorities, along with meeting other standard closing requirements.

After the acquisition is completed, Ark Financial Holding, Inc. plans to invest additional capital into The First National Bank in Cooper. The investment will support a multi-year modernization plan focused on upgrading technology systems, enhancing digital banking services, and introducing modern digital payment solutions for customers.

The First National Bank in Cooper, the oldest bank in Delta County, will continue operating from its current location in Cooper and remain focused on serving local customers and surrounding communities.

Customers will continue working with the same banking team and can use the bank as they do today. Deposit accounts, loans, branch hours and daily banking services will remain unchanged and continue without interruption.

Tim Gregory, President and CEO of Cooper Lake and The First National Bank in Cooper, said, "This new partnership with Ark will provide the bank with the resources to invest in modernizing our technology infrastructure, including digital banking services. Our customers will continue to see the same faces and receive the same care and service as they always have when they walk into the bank."

Read More:Akkio Appoints Christian Juhl to Board of Directors

"The First National Bank in Cooper has served this community for generations and we are honored to continue that tradition," said a representative of Ark Financial Holding, Inc. "As we invest in modernizing the banks technology infrastructure, we are excited about what this means for the banks customers."

About Ark Financial Holding, Inc.

Ark Financial Holding, Inc. is a Delaware-based company focused on digital banking, digital payments, and financial technology. In the transaction, Sheshunoff & Co. Investment Banking acted as Ark’s financial advisor, while Cleary Gottlieb Steen & Hamilton LLP served as legal counsel.

About Cooper Lake Financial Corporation

Cooper Lake Financial Corporation is a Texas-based bank holding company and the parent company of The First National Bank in Cooper. In the transaction, Robert N. Flowers of Bradley Arant Boult Cummings LLP and Jay Garrett served as legal advisors to Cooper Lake Financial Corporation and The First National Bank in Cooper.

Read More:Alianza and ai.io partner to expand access to Elite Talent Identification