Missouri Minute: Schmitt to replace Hawley as attorney general; Simmons First acquires Reliance Bank

Here are today’s top headlines from across Missouri:

Treasurer Schmitt to replace Hawley as state attorney general

Missouri Treasurer Eric Schmitt will become the state’s new attorney general, Gov. Mike Parson announced Tuesday. Schmitt will succeed Attorney General Josh Hawley, who was elected to the U.S. Senate and has announced he will resign, effective Jan. 3. Read more

Simmons First acquires Reliance Bank, increases St. Louis footprint

Simmons First National Corp. has agreed to acquire Des Peres-based Reliance Bancshares, the parent company of Reliance Bank. Simmons, which is based in Pine Bluff, Arkansas and operates Simmons Bank, is acquiring Reliance for $62.7 million in cash and 4 million shares of common stock, currently worth about $42 million. Read more

SLU plans cost cuts amid declines in enrollment, medical revenue

St. Louis University has instituted a hiring freeze and is considering cost-cutting measures as it faces the possibility of budget shortfalls for fiscal years 2020 and beyond. The budget woes come as the Catholic university faces declining enrollment and lower revenue from its medical practices. Read more

Missouri agriculture groups welcome USMCA trade deal

The new trade deal agreed to by negotiators from the United States, Mexico and Canada still needs final approval from all three countries’ governments, but agricultural groups in Missouri are supportive of the pact. Industry associations in the state say the agriculture sector would benefit from fewer tariffs on commodities and fewer limits on the dairy trade under the U.S.-Mexico-Canada Agreement, or USMCA. Read more

Energizer announces change to board leadership

Energizer Holdings, the St. Louis-based battery manufacturer, has selected a new board chairman. Patrick Moore, previously Energizer’s vice chairman, will become chairman, effective immediately. He takes over for Patrick Mulcahy, who has been chairman since Energizer’s split with its personal care division. Read more

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