Citizens Bank Nabs Hot Springs Southern Bancorp Staffers

Arkansas Business
Monday, December 8, 2014

Southern Bancorp is calling foul on a recent move by the Citizens Bank of Batesville, which has hired 10 lenders and support staff away from Southern’s office in Hot Springs, Ark. Citizens CEO Phil Baldwin, who had been CEO at Southern from 2002 until 2011, denied a raid on his former employer and said the hires were instructed not to bring information with them. Nevertheless, Southern Bancorp has notified regulators of their concerns. “We believe that proprietary information may have been misappropriated,” said Southern Bancorp CEO Darrin Williams.  Meanwhile, Southern Bancorp Bank is proceeding with plans to expand in Hot Springs and is rapidly moving to hire staff for it and replacements for the bankers who left.