Ark Financial Holding, Inc. has entered into a definitive agreement to acquire Cooper Lake Financial Corporation, the holding company of The First National Bank in Cooper. The transaction remains subject to customary closing conditions, including shareholder approval and required regulatory approvals.
Following the completion of the acquisition, Ark plans to inject additional capital into The First National Bank in Cooper to support a multi-year modernization initiative. The investment program will focus on upgrading the bank’s technology infrastructure, expanding digital banking services, and introducing enhanced digital payments capabilities for customers.
Founded more than a century ago, The First National Bank in Cooper is the oldest bank in Delta County, Texas. Under the proposed ownership, the bank will continue operating from its current location in Cooper and maintain its commitment to serving local customers and surrounding communities. Customers are expected to experience no disruption to deposit accounts, loan relationships, branch hours, or daily banking operations, while continuing to work with the same banking team.
Ark Financial Holding said the acquisition aligns with its expertise in digital banking, digital payments, and financial technology, enabling the organization to support the bank’s long-term growth while preserving its community banking heritage.
Sheshunoff & Co. Investment Banking served as financial advisor to Ark Financial Holding in the transaction, while Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel. Cooper Lake Financial Corporation and The First National Bank in Cooper were advised by Robert N. Flowers of Bradley Arant Boult Cummings LLP and Jay Garrett.
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“This new partnership with Ark will provide the bank with the resources to invest in modernizing our technology infrastructure, including digital banking services. Our customers will continue to see the same faces and receive the same care and service as they always have when they walk into the bank.”
Tim Gregory, President and CEO, Cooper Lake Financial Corporation and The First National Bank in Cooper
“The First National Bank in Cooper has served this community for generations, and we are honored to continue that tradition. As we invest in modernizing the bank’s technology infrastructure, we are excited about what this means for the bank’s customers.”
Representative, Ark Financial Holding
