Integrity First Bank Buys Building, Plans Relocation From Rogers to Bentonville
by October 13, 2014 12:00 am 103 views
Integrity First Bank of Mountain Home is moving its lone Northwest Arkansas branch office from Rogers to Bentonville.
Market president Joe Spivey said the bank closed Oct. 1 on a $1.52 million purchase of a vacant, 2,616-SF bank branch at 3210 S.W. Regency Parkway, just north of Rainbow Curve on Walton Boulevard.
The bank’s current branch is in 1,250 SF of leased space in a building at 207 N. 24th St., just off West Walnut.
That branch will close Dec. 31 and the Bentonville banking center will open Jan. 5, Spivey said.
According to the most recent FDIC data, as of June 30, IFB reported $410.7 million in assets, $255.3 million in loans and $343.5 million in deposits.
IFB has nine branches across north Arkansas.
Simmons First National Bank was the previous tenant of the Regency Parkway property. It was closed in March following Simmons’ $56 million acquisition of Metropolitan National Bank. Simmons consolidated the combined 21 branches in Northwest Arkansas to 10.
Simmons bought the 1.26-acre lot in August 2004 and built the single-story building the following year.
Jessica and Matthew Dearnley of Flake & Kelley Commercial Northwest in Springdale represented Simmons in the transaction.
Pat Morrison of Colliers International in Bentonville represented IFB.