Arkansas bank to exit Alabama market with sale of two branches

An Arkansas-based bank is exiting the Alabama market with the sale of its two branches in the state. Bank OZK (NASDAQ: OZK), headquartered in Little Rock, has entered into a purchase and assumption agreement with Louisville, Alabama-based 22nd State Bank (22SB), a wholly owned subsidiary of FEB Bancshares Inc., in which 22SB will acquire Bank OZK’s Geneva, Alabama branch. Pascagoula, Mississippi-based Merchants & Marine Bancorp has also entered into a definitive agreement with Bank OZK to acquire…