Chambers Shuffle

Chambers Bank filed for a branch relocation with the Arkansas State Bank Department on Oct. 19. The intended move is from its Rogers location at 2522 S. Champions Dr. in the Pinnacle Hills area to an unspecified site in Bentonville. In recent years, banks have flocked to the Pinnacle Hills area due to the proximity of wealthy customers’ residences. Chambers and Arvest were the first two banks in the area.

Bill Donnell, the new president and CEO of Chambers’ northwest operations, did not return a phone call for comment.

It’s possible the move has something to do with the new landlord. The Chambers office was located in what was called the Alltel Building, which sold to Great Southern Bank of Springfield, Mo. for $4.75 million earlier this year. The building was sold to GSB by Bill Schwyhart, through his Financial Holdings LLC. GSB financed the note on the property.

As of June 30, the branch had $19 million in deposits, or about 0.56 percent of the total Benton County market share. The Arvest just up the road at 5201 Village Parkway had $122.8 million in deposits. First Western Bank, also on Champions, had $9.2 million in deposits. Other  banks close by include First National Bank of Rogers, Metropolitan National Bank, Regions and Legacy National Bank.