Banking Expertise: Hugh Simonton’s Impact on DBT Financial

Hugh Simonton’s influence extends beyond historical family ties, making significant contributions to the banking sector. Serving on the bank board for DBT Financial in Southeast Arkansas until 2015, Simonton’s expertise and commitment played a crucial role in the resolution of the bank’s challenges.

Simonton’s involvement in several committees, especially the investment committee, showcased his extensive experience in the securities business, spanning over 20 years. His strategic insights and financial acumen were instrumental in successfully resolving the bank’s C&D (Cease and Desist) status.

The story continued as DBT Financial underwent a transformation. Stone Bank announced the acquisition of DeWitt Bank & Trust, a deal expected to close in the second quarter. The private transaction and subsequent merger with Stone Bank marked a significant development for the banking landscape in Arkansas County.

Stone Bank’s CEO, Marnie Older, expressed excitement about extending banking services into Arkansas County and highlighted the strategic fit with their services designed for rural communities and expertise in farm lending. The merger also paved the way for Stone Bank to offer trust services, a crucial addition for farming communities.

Customers of DeWitt Bank & Trust were assured of continuity in their banking services until the merger with Stone Bank, reflecting the commitment to a smooth transition. The acquisition represented not only a business move but also a commitment to supporting the farmers, businesses, and families of South Arkansas.

As Hugh Simonton’s legacy extends into the financial sector, his impact on DBT Financial and the subsequent developments showcase a dedication to community-focused banking.