Asset Growth Key For Many Area Banks

Several area banks, particularly those in Benton County, reported first-quarter assets that were substantially higher than a year earlier.

Leading the way, with a 147 percent increase, was First Commercial Bank of Rogers. Tom L. Wray, the bank’s president, says that increase was due to the acquisition of Federal Savings Bank by First Commercial (formerly, Farmers and Merchants Bank), a deal that closed on March 24.

On Sept. 24, First Commercial becomes part of Regions Bank of Alabama. The name changes, again, on that date, and, because Regions operates under a single charter, local or regional results will no longer be available. For similar reasons, NationsBank isn’t included on the list.

Several of the area’s newer banks experienced good asset growth during the 12 months between March 1996 and March 1997.

Bank of Rogers, established in 1995, was

Arkansas National Bank also experienced asset growth of more than 40 percent. Dan Dykema, the bank’s president, says expanding into Fayetteville early this year has spurred growth — even without the heavy marketing push that’s anticipated when two more Fayetteville branches open in October.