Simmons Bank and City of Stillwater in Advanced Negotiations for $1.5 Million Donation to Support Block 34

Rhea-AI Summary

Simmons Bank is in advanced negotiations with the City of Stillwater for a $1.5 million donation aimed at revitalizing Block 34, a vacant city block, into a sustainable public space. The initiative seeks to enhance community engagement and cultural representation in downtown Stillwater. If finalized, this donation aligns with Simmons Bank's commitment to community investment and follows its previous support for female student-athletes at Oklahoma State University. The project will include various features like an event space, landscaping, and public amenities.

Positive

• Simmons Bank's $1.5 million donation supports local community revitalization.
• The Block 34 project aims to enhance social and cultural engagement in Stillwater.
• Simmons Bank's past initiatives showcase a commitment to community involvement.

Negative

• None.

Initiative designed to revitalize vacant city block into an inclusive and sustainable public space

STILLWATER, Okla., Dec. 8, 2022 /PRNewswire/ -- Simmons Bank announced today that it is in advanced negotiations with the City of Stillwater regarding a donation to support Block 34, an initiative designed to revitalize a vacant city block into an inclusive and sustainable public space that reflects the cultural heart and soul of the community. Based on preliminary discussions, the donation is expected to total approximately $1.5 million, subject to the execution of a mutually acceptable definitive agreement.

"Being a strong business partner and investing in the communities where we live and work is ingrained in our DNA at Simmons Bank," said Kevin Fowler, regional community president for Simmons Bank. "As a company that prides itself on being a community bank, we recognize that the Block 34 project provides an opportunity for continued economic development and transformation in downtown Stillwater, while serving as a gathering spot for the community to enjoy social, cultural and educational events."

At the heart of the goals that the Block 34 Task Force has developed for Block 34, is the creation of a strong sense of place, often described as a "living room," that instills a sense of pride for all citizens, fosters sustainability and connects the cultural dots in the downtown area while providing a link between Main Street and Duck Street. Design plans for Block 34 include an event space that includes a large central lawn, an event pavilion, an outdoor amphitheater and a plaza with landscaping, water feature, public art, benches, bermed lawn seating, space for food trucks and other vendors, shade structures and public restrooms.

If finalized, the donation to the City of Stillwater would follow Simmons Bank's "game changing" support for female student-athletes with a multi-university sponsorship of women's athletics announced in December 2021, whereby Simmons Bank serves as the presenting sponsor of women's athletics at Oklahoma State University. Simmons Bank entered the Stillwater market through its acquisition of Bank SNB in 2017.

About Simmons Bank
Simmons Bank is a wholly owned subsidiary of Simmons First National Corporation (NASDAQ: SFNC), a Mid-South based financial holding company that has paid cash dividends for 113 consecutive years. Simmons Bank operates more than 230 branches in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Founded in 1903, Simmons Bank offers comprehensive financial solutions delivered with a client-centric approach. In 2022, Simmons Bank was named to Forbes list of "America's Best Banks" for the second consecutive year and to Forbes list of "World's Best Banks" for the third consecutive year. Additional information about Simmons Bank can be found on our website at simmonsbank.com, by following @Simmons_Bank on Twitter or by visiting our newsroom.

View original content to download multimedia:https://www.prnewswire.com/news-releases/simmons-bank-and-city-of-stillwater-in-advanced-negotiations-for-1-5-million-donation-to-support-block-34--301698376.html

SOURCE Simmons Bank

FAQ

What is the purpose of Simmons Bank's $1.5 million donation to Block 34?

The donation aims to revitalize a vacant city block into an inclusive and sustainable public space in Stillwater.

When was the announcement made regarding Simmons Bank's donation for Block 34?

The announcement was made on December 8, 2022.

How does the Block 34 project benefit the Stillwater community?

The project enhances community engagement, cultural representation, and provides space for social and educational events.

What previous community support has Simmons Bank provided?

Simmons Bank previously supported female student-athletes with a multi-university sponsorship in December 2021.

Who is involved in the negotiations for the donation to Block 34?

Simmons Bank is negotiating with the City of Stillwater for the donation.