FNB Builds Buffalo, FSB Banks Tontitown
by March 24, 2008 12:00 am 80 views
The First National Bank in Green Forest has expansion plans.
On Feb. 28 the bank received approval from the Office of the Comptroller of the Currency to relocate its branch in Jasper.
FNB has leased space in the town for about a year, but now it’s time for a more permanent location, said Stephen Stafford, president and CEO.
The bank is building a 3,500-SF office in the town, adjacent to the Buffalo River, Stafford said.
The building’s design includes a deck so patrons can enjoy the view. The office should be open by the fall, Stafford said.
There are only three bank offices in Newton county competing for about $56.8 million in deposits: the FNB office, which had about $7 million in deposits as of June 30, and two Bank of the Ozarks offices.
Stafford is also a board member of Legacy National Bank of Springdale. The banks participate on large loans.
First Security Bank of Searcy also received approval to open a new branch in Tontitown on Feb. 28 by its state regulator, the Arkansas State Bank Department.
Jim Taylor, Northwest Arkansas division president for FSB, said plans call for the office to be open in late 2008 or early 2009. He didn’t know a size, but said the prototype will resemble the bank’s office in Lowell.
FSB has 16 offices in Benton and Washington counties and controls about 6.3 percent of the market’s $8.46 billion in deposits.