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One Bank of Hot Springs.

Another Day, Another Dollar, Another Name

The financial community buzz is that OneBank of Hot Springs will soon be sold to the Bank of Malvern.

OneBank has already changed letterhead several times in the last few years -- Grand National, First American, OneBank, and now?

Current OneBank-HS president Don Underwood says, "We can't talk about anything, but nothing's been done yet." And the Federal Reserve Bank in St. Louis has not seen any paperwork yet.

Still, employees and insiders are talking. We hear Paul Offutt, now president of the Bank of Malvern and a former president of the Hot Springs institution, is slated to be the new bank's leader.

OneBank-HS is wrapping up a great year according to Underwood and will close out with about $60 million in assets, a 25 percent jump over last year. The Bank of Malvern has about $84 million in assets.

Bryan Hunt couldn't be reached for comment.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:Arkansas Business
Date:Jan 7, 1991
Words:152
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