Signature Plans Bella Vista Site

Fayetteville’s Signature Bank of Arkansas has set its sights on a Bella Vista branch. The office, slated for 406 Town Center, will be the sixth full-service Signature Bank location.

As of press time, the bank was in the process of making a formal application for the branch with the Arkansas State Bank Department.

Signature was the last of the three start-up banks that were announced in 2004 to receive regulatory approval and actually open its doors (May 9, 2005). But the bank has made aggressive branching moves in the super-banked market and already has more offices throughout Northwest Arkansas than Legacy National Bank of Springdale (two banks in Springdale, with two more planned) and Pinnacle Bank in Rogers (one bank). Parkway Bank of Rogers, a 2004 charter relocation from south Arkansas, has one office open and plans on the drawing board for three more by mid-2007.

Out-of-market banks pursuing the $6.03 billion in Northwest Arkansas deposits aren’t keeping pace with Signature either.

Publicly traded Bank of the Ozarks, which opened its first full service office in Bentonville on March 31, 2005, has three offices and plans for nine to 11 more.

Metropolitan National Bank of Little Rock made a media splurge in June 2005 saying it would spend more than $30 million on 12 offices over the next few years. So far it has temporary offices in Fayetteville and Rogers.

Signature, however, is leasing its locations in retail centers and other high-traffic areas instead of buying lots and investing in buildings. The bank had $174.5 million in assets and $130.3 million in deposits as of Dec. 31.