Park National Corporation has entered into a definitive agreement to acquire First Citizens Bancshares, Inc., based in Dyersburg, Tennessee, in an all-stock transaction valued at approximately $317 million. The deal is expected to close in the first quarter of 2026, with integration anticipated in the third quarter of the same year. Following the completion of the transaction, First Citizens National Bank will merge into The Park National Bank, creating a combined company with approximately $12.7 billion in assets, $9.5 billion in loans, and $10.4 billion in deposits on a pro forma basis. The acquisition will expand Park National's presence into Tennessee and strengthen its footprint in the southeastern United States. First Citizens Bancshares operates 24 branches throughout Tennessee, with strong market positions in major cities such as Memphis, Nashville, Chattanooga, and Cleveland. Jeff Agee, CEO and Chairman of First Citizens Bancshares, will become President of Park National Bank's newly formed Tennessee Region, and one member of First Citizens' board will join Park National's Board of Directors.