10 State Banks Celebrate Centennials During 2003

Construction began on the Panama Canal in 1903. Also that year, Henry Ford released his first Model A car, the Wright brothers became the first to fly, the first message was sent over the Pacific cable and the Boston Red Sox beat the Pittsburgh Pirates in the very first World Series.

It also was a banner year for bank startups in Arkansas. Ten banks opened for business that year and have survived stock market crashes; the Depression; wars; numerous crises, mergers and buyouts; and changing economies. Only 1934 gave birth to more Arkansas banks — 11 — that continue to operate.

Five banks in Northwest Arkansas aren’t celebrating centennials this year (See chart), but they are older than the century mark.

Two of the banks that were started in March 1903 are now among the state’s largest — Simmons First National Bank of Pine Bluff and Bank of the Ozarks, now of Little Rock.

Simmons, the parent company of Simmons First Bank of Northwest Arkansas, celebrated its centennial by giving a $100,000 gift to the city of Pine Bluff on March 23 that will be used to build a state-of-the-art farmers’ market facility in Pine Bluff. The bank had a drawing for a $10,000 grand prize, along with other drawings throughout the state. The bank also held a party for its employees at 10 locations across the state.

Bank of the Ozarks, which was founded in Ozark, is celebrating its 100th year in a quiet manner, mostly within the bank. The bank crossed a major threshold last year by reaching $1 billion in assets.

• Community Bank of Cabot is celebrating all year with monthly drawings for a chance to win a Ford Mustang, a Harley-Davidson motorcycle or airline tickets to the World Series.

• The Bank of Pocahontas is doing pretty much the same thing. It’s holding a monthly drawing for a Harley-Davidson motorcycle. The 10 monthly finalists will be given keys, and one will be the winner.

• First National Bank of Crossett is planning a big celebration for July 3-4. The bank will have a big fireworks display, present a history of the bank and have patriotic music for the community. Plans also are in the works to have some commemorative coins minted.

• The Bank of Brinkley also is carrying on a yearlong celebration. It has held an open house and is giving away $500 a month for 10 months, along with anniversary mementos.

• First State Bank of Conway is listed as a 100-year-old bank, although it’s only been under that name for five years. The centennial comes about because owners Johnny Allison and Robert “Bunny” Adcock Jr. bought the Bank of Holly Grove in 1998 — a small farming bank with $27 million in assets.

• The Bank of McCrory plans to have a big birthday party and reception and perhaps an invitation-only celebration.

• Bodcaw Bank at Stamps held an open house this past weekend, and along with the customary cake, gave away prizes. J. Paul Nipper, the bank’s CEO, said its assets have from from $4 million in 1968 to $70 million.

• Cleburne County Bank at Heber Springs isn’t planning anything special. Dale Miller, CEO, said the bank just takes care of business.