Signature Makes Return To Rogers Mix.
The $640 million-asset lender exited Rogers in 2010 after selling its branch to First Bank, the predecessor of today's Generations Bank of Hampton (Calhoun County).
Signature also sold its Siloam Springs branch to First Bank eight years ago, leaving its Bentonville branch as its lone office in Benton County.
That changed in April when Signature opened a loan production office in Rogers.
The Rogers market, with $1.7 billion in deposits, is home to 20 lenders with 38 locations.
Fayetteville's Arvest Bank holds a dominant share in its eight-branch Rogers network: nearly 42 percent totaling $743 million.
Four other lenders hold at least a 5 percent share of deposits in Rogers: Regions Bank of Birmingham, Alabama, nearly 8.4 percent totaling $148 million; First Western Bank, nearly 8.2 percent totaling more than $144 million; Bank of America in Charlotte, North Carolina, nearly 5.9 percent totaling almost $104 million; and Searcy's First Security Bank, 5.5 percent totaling $98 million.
Diamond Bank of Murfreesboro has targeted a bankless community in Pope County for its next expansion.
The $586 million-asset lender, which operates a 14-branch network in 12 Arkansas cities, intends to open an office at 23 Elm St. in Hector, which has a population of 454.
Seven years have passed since Hector last had a bank branch. Simmons First Bank of Russellville operated an office at the same location sought by Diamond Bank.
Diamond Bank entered the Pope County market more than two years ago with an office in Russellville.
Since then, the bank has built a 2.5 percent share of the county's $1.1 billion deposits.
With a 28 percent share, Conway's Centennial Bank holds the largest block of deposits in Pope County: Nearly $312 million spread across five locations.
Four other lenders have a double-digit stake in deposits in Pope County: Russellville's First State Bank, 16.5 percent totaling $184 million; Arvest Bank, 14.7 percent totaling $164 million; Regions Bank, 13 percent totaling $145 million; and Pine Bluff's Simmons Bank, 12.7 percent totaling $142 million.
Forrest City's Armor Bank is looking to increase its Little Rock presence by setting up shop in a former Metropolitan National Bank branch.
The 2,456-SF Tanglewood branch is on a leased site at 7401 Cantrell Road. The project entered the Simmons Bank fold in 2014 through its winning $53 million bankruptcy auction bid for Metropolitan and its 45-branch network.
Metropolitan National was put in play by the insolvency of its holding company, Rogers Bancshares Inc.
The addition of Armor increases the field of banks operating in the state's largest banking county to 27.
The biggest slice of the $15.5 billion-deposit Pulaski County market is held by Little Rock's Bank OZK, 23.8 percent totaling $3.7 billion.
Rounding out the top five are Bank of America, 21 percent totaling almost $3.3 billion; Arvest Bank, 11 percent totaling $1.7 billion; Regions Bank, nearly 8.2 percent totaling nearly $1.3 billion; and Simmons Bank, almost 7.6 percent totaling more than $1.1 billion.
George Waldon George@ABPG.com
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|Date:||Oct 22, 2018|
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