Money In the Bank
by January 26, 1998 12:00 am 54 views
Have you heard the Bank of Elkins has a new owner?
We understand that Danville-based Chambers Bancshares Inc. has struck a deal to buy the $53 million-asset bank.
No word on the purchase price, yet.
The actual mechanics of the deal will entail Chambers Bancshares buying Community Investments Inc., the holding company for the Bank of Elkins. Community Investments is controlled by the Bunch family.
Bank of Elkins has an estimated 3.4 percent share of bank deposits in the Washington County market. Chambers Bancshares, with more than $300 million in total assets, is among the largest privately-owned bank holding companies based in Arkansas.
The Chambers family of banks includes Danville State Bank, Bank of Amity, Bank of Atkins, Arkansas Valley Bank in Dardanelle and Scott County Bank in Waldron.