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Scott County Bank buy.

Scott County Bank Buy

Have you heard about a bank buy brewing in west Arkansas?

First National Security Co. of De Queen is trying to acquire Rodgers Family Bancshares, the holding company for the Bank of Waldron.

If the deal goes forward, it could make First National Security the 11th largest bank holding company in the state in terms of assets.

Want some numbers?

The Bank of Waldron, chartered by the state in 1901, had total 1990 assets of $67.3 million and deposits of $58.7 million.

The Rodgers family, led by Mena businessman Dale Rodgers, gained controlling interest of the bank in 1978.

First National Security controls four banks with combined 1990 assets and deposits of $179.1 million and $156.6 million, respectively.

The holding company's banks include First National Bank at De Queen (total assets of $79.5 million), the Bank of Ashdown (total assets of $41.2 million), First National Bank of Howard County at Dierks (total assets of $30.2 million) and Citizens National Bank at Nashville (total assets of $28.2 million).

The regulators still have to approve the deal. We should be able to track down additional details soon.
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Title Annotation:First National Security Co. tries to acquire Rodgers Family Bancshares
Publication:Arkansas Business
Date:Jul 22, 1991
Words:197
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