COOPER, Texas — May 29, 2026
Executive Summary
Ark Financial Holding, Inc. has entered into a definitive agreement to acquire Cooper Lake Financial Corporation, the holding company of The First National Bank in Cooper. The proposed transaction will support a planned multi-year investment program focused on technology infrastructure modernization, digital banking expansion, and digital payments capabilities. According to the companies, The First National Bank in Cooper will remain in its current location, continue serving Cooper and Delta County, and maintain existing customer relationships, banking services, branch operations, and community commitments.
Announcement Overview
Cooper Lake Financial Corporation and Ark Financial Holding, Inc. have signed a definitive acquisition agreement under which Ark will acquire Cooper Lake, parent company of The First National Bank in Cooper. Following closing, Ark intends to contribute additional capital to support investments in banking technology, digital services, and modern payment capabilities. The companies stated that customers will continue working with the same banking team while maintaining existing deposit accounts, loan relationships, and banking services without disruption. The transaction remains subject to customary closing conditions, including shareholder and regulatory approvals.
Key Announcement Details
- Announcement Type: Acquisition Agreement
- Acquiring Company: Ark Financial Holding, Inc.
- Target Company: Cooper Lake Financial Corporation
- Bank Involved: The First National Bank in Cooper
- Announcement Date: May 29, 2026
- Transaction Status: Definitive agreement signed
- Closing Conditions: Cooper Lake shareholder approval and required regulatory approvals
- Post-Closing Capital Plan: Additional capital contribution by Ark
- Investment Program: Multi-year technology modernization initiative
- Technology Focus: Technology infrastructure upgrades
- Digital Banking Focus: Expansion of digital banking services
- Payments Focus: Addition of modern digital payments capabilities
- Community Commitment: The First National Bank in Cooper will remain in its current location
- Service Area Commitment: Continued service to Cooper, Delta County, and surrounding communities
- Customer Experience: Customers will continue working with the same banking team
- Banking Relationships: Existing deposit accounts and loan relationships will continue
- Operational Continuity: Branch hours and day-to-day operations will continue without disruption
- Strategic Objective: Modernize banking capabilities while preserving community banking relationships
- Financial Advisor to Ark: Sheshunoff & Co. Investment Banking
- Legal Counsel to Ark: Cleary Gottlieb Steen & Hamilton LLP
- Legal Advisors to Cooper Lake: Robert N. Flowers of Bradley Arant Boult Cummings LLP and Jay Garrett
- Oldest Bank in Delta County: The First National Bank in Cooper
- Source: Ark Financial Holding, Inc.
Definitive Acquisition Agreement
Cooper Lake Financial Corporation and Ark Financial Holding, Inc. announced that they have entered into a definitive agreement for Ark to acquire Cooper Lake.
Under the proposed transaction:
- Ark Financial Holding, Inc. will acquire Cooper Lake Financial Corporation
- Cooper Lake is the holding company of The First National Bank in Cooper
- The transaction remains subject to customary closing conditions
- Approval from Cooper Lake shareholders is required
- Required regulatory approvals must also be obtained before closing
The announcement represents a significant corporate transaction involving one of the longest-serving banking institutions in Delta County, Texas.
The companies stated that the agreement establishes a framework for future investment in banking technology and customer-facing digital capabilities while preserving the institution’s existing community presence and customer relationships.
Additional Capital Investment Following Closing
According to the announcement, Ark Financial Holding, Inc. intends to contribute additional capital to The First National Bank in Cooper following completion of the proposed transaction.
The planned capital contribution will support a multi-year investment program focused on several operational initiatives.
Planned investment areas include:
- Technology infrastructure upgrades
- Expansion of digital banking services
- Modern digital payment capabilities
- Long-term technology modernization initiatives
- Enhanced banking service capabilities
The companies stated that these investments are intended to strengthen the bank’s operational capabilities while supporting future banking service enhancements for customers.
The planned investment program forms a central component of Ark’s strategy following the proposed acquisition and reflects the company’s focus on digital banking services, financial technology, and modern payment infrastructure.
Technology Infrastructure Modernization
A key component of the planned investment strategy involves modernization of the bank’s technology infrastructure.
According to the announcement, the proposed investments are expected to support:
- Banking technology modernization
- Improved digital banking functionality
- Expanded customer digital access
- Modern payment capabilities
- Technology infrastructure enhancements
The companies indicated that these investments will be pursued through a structured, multi-year approach following completion of the transaction.
The modernization initiative aligns with Ark’s expertise in:
- Digital banking services
- Digital payments
- Financial technology solutions
The investment program is intended to provide the bank with additional resources to continue evolving its technology capabilities while maintaining service continuity for customers.
Digital Banking Services Expansion
The announcement identified digital banking services as a major focus area for future investment.
Following closing of the transaction, Ark plans to support initiatives designed to expand digital banking capabilities available to customers of The First National Bank in Cooper.
Areas highlighted in the announcement include:
- Digital banking service enhancements
- Technology-driven customer services
- Expanded banking access capabilities
- Modern digital financial tools
- Digital payments functionality
The companies stated that these investments are intended to complement existing banking operations while supporting future service improvements.
The planned initiatives reflect Ark’s background and expertise in digital banking and financial technology.
Modern Digital Payments Capabilities
The proposed investment strategy also includes the addition of modern digital payments capabilities.
According to the announcement, future investments are expected to support the bank’s ability to offer enhanced digital payment solutions for customers.
Key objectives identified include:
- Modern payment capabilities
- Digital transaction enhancements
- Technology-enabled banking services
- Expanded customer payment options
The companies noted that these initiatives form part of the broader technology modernization program planned following completion of the transaction.
The First National Bank in Cooper to Remain in Its Community
The announcement emphasized that The First National Bank in Cooper will continue operating from its current location.
The companies stated that the bank will:
- Remain in Cooper, Texas
- Continue serving Delta County
- Support surrounding communities
- Maintain its community banking presence
- Continue local customer relationships
According to the announcement, the proposed acquisition is designed to support continued growth while preserving the institution’s longstanding community focus.
The companies reiterated their commitment to maintaining local banking operations and community engagement following completion of the transaction.
Customers Will Continue to See the Same Team
The companies stated that customers will continue to interact with the same banking professionals following completion of the proposed transaction.
According to the announcement:
- Customers will see the same team
- Customers will work with the same bankers
- Customers can continue banking in their preferred manner
- Existing relationships will remain intact
The announcement highlighted continuity as an important aspect of the transition process.
The companies indicated that preserving customer relationships remains a key priority throughout the proposed transaction.
Banking Services and Operations to Continue Without Disruption
The announcement stated that customers should not expect changes to core banking relationships and services as a result of the transaction.
The companies specifically noted that the following will continue without disruption:
- Deposit accounts
- Loan relationships
- Branch hours
- Day-to-day banking operations
- Customer service activities
The continued operation of these services reflects the companies’ stated objective of maintaining stability for customers while pursuing future technology and infrastructure investments.
Leadership Statements
Tim Gregory, President and CEO of Cooper Lake and The First National Bank in Cooper, commented on the benefits expected from the proposed partnership.
“This new partnership with Ark will provide the bank with the resources to invest in modernizing our technology infrastructure, including digital banking services. Our customers will continue to see the same faces and receive the same care and service as they always have when they walk into the bank.”
Tim Gregory stated that the partnership will provide resources to support technology modernization while preserving the customer experience and community-focused service model that customers currently receive.
A representative of Ark Financial Holding, Inc. also commented on the transaction and the bank’s longstanding role within its community.
“The First National Bank in Cooper has served this community for generations, and we are honored to continue that tradition. As we invest in modernizing the bank’s technology infrastructure, we are excited about what this means for the bank’s customers.”
According to Ark, the planned investments are intended to strengthen the bank’s technology capabilities while supporting its ongoing commitment to local customers and communities.
About Ark Financial Holding, Inc.
Ark Financial Holding, Inc. is a Delaware corporation with expertise in:
- Digital banking services
- Digital payments
- Financial technology
The company stated that Sheshunoff & Co. Investment Banking served as financial advisor to Ark in the transaction.
Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to Ark Financial Holding, Inc.
About Cooper Lake Financial Corporation
Cooper Lake Financial Corporation is a Texas corporation and bank holding company.
The company owns The First National Bank in Cooper.
According to the announcement:
- Robert N. Flowers of Bradley Arant Boult Cummings LLP
- Jay Garrett
served as legal advisors to Cooper Lake Financial Corporation and The First National Bank in Cooper in connection with the transaction.
About The First National Bank in Cooper
The First National Bank in Cooper is a national bank located in Cooper, Texas.
For more than a century, the bank has participated in the growth and development of:
- Cooper
- Delta County
- Local residents
- Regional communities
The institution is recognized as the oldest bank in Delta County and has maintained a longstanding presence within the local community.
Media Contact
For additional information, visit arkfinancial.com.
Source Attribution
Source: Company announcement
