Simmons First, a bank with a Kansas City presence, has acquired the business of Liberty Bancshares Inc of Springfield. Liberty Bancshares has 23 branches throughout southern Missouri, and has strong expertise in small business lending. Through the end of March, Liberty had assets of $1.1 billion, loans of $811 million and deposits of $885 million. This acquisition will add $1.9 billion to the $5 billion currently at Simmons First. The transaction was all stock, valued at $206 million.