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Jonesboro Bancshares, Jonesboro State Bank complete share exchange deal

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Jonesboro Bancshares, Jonesboro State Bank complete share exchange deal

Jonesboro Bancshares Inc. on Jan. 18 agreed to a statutory stock exchange with Jonesboro State Bank in which the former has completed its process to become the Jonesboro, La.-based bank's parent.

The Louisiana Office of Financial Institutions on Sept. 25, 2018, gave its regulatory approval for the transaction. Jonesboro Bancshares also applied for regulatory approval with the Federal Reserve Bank of Dallas.