Southern Bancorp of Arkadelphia announced Tuesday that it will acquire holding company First Delta Bankshares Inc. of Blytheville during the third quarter, a move that Southern Bancorp President and CEO Phillip N. Baldwin says could benefit Pine Bluff-based Southern Good Faith Fund.

First Delta owns First National Bank of Blytheville and the Bank of Trumann

Baldwin and Jerry T. Sims, chairman and CEO of First National Bank of Blytheville, said in a joint statement that First National will retain its charter but will be under the umbrella of Southern Bancorp, a development bank holding company and the largest rural development bank in the U.S.