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Pocahontas Bancorp, Inc. Agrees to Acquire Marked Tree Bancshares, Inc. in a Merger Valued At Approximately $2.8 Million.

Publication: Business Wire
Publication Date: 27-NOV-02 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

JONESBORO & MARKED TREE, Ark.--(BUSINESS WIRE)--Nov. 27, 2002

Pocahontas Bancorp, Inc. (Nasdaq NMS:PFSL) ("Pocahontas Bancorp"), the holding company for First Community Bank, and Marked Tree Bancshares, Inc. ("Marked Tree Bancshares"), the holding company for Marked Tree Bank, announced today that they have signed a definitive merger agreement pursuant to which Pocahontas Bancorp will acquire Marked Tree Bancshares in a stock transaction valued at approximately $2.8 million. The merger transaction is subject to the approval of the stockholders of Marked Tree Bancshares and receipt of required regulatory approvals. Subject to those contingencies, it is expected that the transaction would be consummated during the first quarter of 2003. The Board of Directors of each company has unanimously approved the transaction. Due diligence has been completed.

Dwayne Powell, President and Chief Executive Officer of Pocahontas Bancorp, stated, "We are very...



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