Valley View Opens Office in Springdale
by July 3, 2006 12:00 am 71 views
Yet another bank is making moves into the white-hot Northwest Arkansas market. Valley Bank of Moline, Ill., opened a loan production office in Springdale in late April, and has already made the charts.
According to the May mortgage reports, the bank’s local office loaned $2.03 million that month. The bank also has an office in Rogers, effectively covering the lending geography in Northwest Arkansas.
James Oldham, regional vice president for Valley, said the bank specifically looks for attractive areas to open LPOs and it has offices around the country. The bank only hires local folks to run the operations, he said.
According to the FDIC, Valley Bank’s holding company, River Valley Bancorp Inc. of Davenport, Iowa, lists ownership of three banks: Valley Bank of Moline; another Valley Bank chartered in Fort Lauderdale, Fla., and Freedom Bank, chartered in Sterling, Ill. The company had $628 million in assets as of Dec. 31.
Of the bank’s immediate success, Oldham said, “The response has been absolutely overwhelming.”
Because the bank’s 14 local employees are from the area, the business is all relationship driven, he said.