Southern Bancorp Acquires Ozarks Financial Group

The $1.9 billion asset acquisition expands Southern Bancorp's footprint and impact across the region.

Published on Jan. 30, 2026

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Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, has announced the successful closure of its deal to acquire Ozarks Heritage Financial Group, Inc., and its wholly owned subsidiary, Legacy Bank & Trust. This strategic acquisition will create a nearly $5 billion asset CDFI with an expanded footprint and enhanced capacity to serve customers and communities across Arkansas, Missouri, Mississippi, Oklahoma, and Texas.

Why it matters

The joining of these two mission-focused institutions will allow Southern Bancorp to expand its reach and deepen its impact in providing access to capital and resources to build generational wealth and economic opportunity for underserved communities throughout the region.

The details

Southern Bancorp will now operate a bank network spanning five states, along with a growing mortgage division serving customers throughout the Southern United States. The acquisition represents Southern Bancorp's commitment to creating economic opportunity for everyone by combining its unique purpose and people with the tools and talent at Legacy Bank & Trust.

  • The deal closed on January 30, 2026.

The players

Southern Bancorp, Inc.

A Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank.

Ozarks Heritage Financial Group, Inc.

The $1.9 billion asset CDFI that owns Legacy Bank & Trust, which was acquired by Southern Bancorp.

Darrin Williams

CEO of Southern Bancorp, Inc.

John Everett

President and CEO of Legacy Bank & Trust.

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What they’re saying

“We are thrilled to welcome Legacy Bank & Trust's outstanding team to Southern Bancorp. For forty years, our work has centered around a mission to ensure everyone has access to the capital and resources needed to build generational wealth and achieve economic opportunity. By combining our unique purpose and people alongside the tools and talent at Legacy, our capacity for impact will be greater than ever, and we look forward to putting that impactful growth to work for more families, businesses, and communities across the region.”

— Darrin Williams, CEO of Southern Bancorp, Inc.

“It's an honor to join the unique history and mission of Southern Bancorp. A momentous growth milestone like this is only possible because of our incredible team at Legacy, who for years have delivered exceptional service to our communities. We are excited to begin preparations for introducing our customers to an even wider range of financial tools and resources in the coming months, alongside service that continues to be driven by compassion and professionalism.”

— John Everett, President and CEO of Legacy Bank & Trust

What’s next

In the coming months, Legacy Bank & Trust customers will be introduced to the expanded range of financial tools and resources available through the combined Southern Bancorp network.

The takeaway

The acquisition of Ozarks Heritage Financial Group by Southern Bancorp represents a strategic move to expand the reach and deepen the impact of mission-driven community banking, providing greater access to capital and resources to build economic opportunity in underserved communities across the region.