Simmons Bank has agreed to contribute a total of $15 million in community development investments in St. Louis as part of its $213 million purchase of Reliance Bank.
In a three-year agreement with the St. Louis Equal Housing and Community Reinvestment Alliance (SLEHCRA), Simmons pledged to open a retail branch in a low-income minority neighborhood, set goals for small-business loans, invest $500,000 in the Gateway Neighborhood Mortgage loan fund, and contribute $60,000 a year to charities in St.…
