First Arkansas Bank & Trust (FAB&T), has bought a vacant bank branch building at the intersection of Hogan Road and Prince Street in Conway. FAB&T President and CEO Larry T. Wilson said it will be the first foray into Conway for the Jacksonville-based bank.
“This will be our initial entry into the Conway market. We believe that Conway is a great market and has significant growth potential. With the diverse range of demographics found in the city, including the colleges and the business community, we believe strongly that our products, services, and commitment to community service will position us well within the market and generate the need for more locations in the market over time. This location will compliment another FAB&T location in the Greenbrier market and other branches further north on Highway 65,” he said.
Wilson said the facility will immediately be remodeled and he hopes to have a loan production office up and running in the next few months. Plans are underway to file an application for a full-service branch at the Conway location with the Arkansas Bank Department and hope to have approval on it soon after the remodeling process is complete, he said.
FAB&T is a family-owned and managed commercial bank headquartered in Jacksonville, Ark. and has 22 locations in central and north central Arkansas.
It is the 16th largest bank in the state and has total assets of $750 million. In addition, the bank owns a credit card issuing company, Card Assets, located in Atlanta, Georgia. It issues cards for more than 300 community banks nationwide.