Arvest Intends Offer for Metropolitan National Bank

AP

LITTLE ROCK, Ark. (AP) – A second bank says it will make an offer for Little Rock-based Metropolitan National Bank when it goes on the auction block next Monday.

Arvest Bank said in a legal notice published Thursday in the Arkansas Democrat-Gazette that it intends to bid on Metropolitan, which has about $1 billion in assets.

Arvest did not say how much it will bid for the bank. Arkansas Business reported Thursday that Simmons First National Bank Corp. had offered $16.9 million to acquire Metropolitan.

Rogers Bancshares Inc. owns Metropolitan and is offering to sell Metropolitan through an auction Monday that would be the first of its kind in Arkansas banking history. U.S. Bankruptcy Judge James Mixon has scheduled a hearing for Sept. 12 to consider approving the winning bid.

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