Executive Q&A: Centennial Bank’s Deana Osment

Editor’s note: This article appeared in the most recent magazine edition of Talk Business & Politics.

––––––––––––––––––––

Deana Osment is the Northeast Arkansas division president for Centennial Bank, a subsidiary of Conway-based Home Bancshares. A resident of Jonesboro, Osment has made her mark in the banking community as one of the go-to sources for a status of the regional market.

Centennial Bank has the largest market share in the Jonesboro market, an outgrowth of the financial group’s $280 million acquisition of Liberty Bancshares in 2013. Osment sat down with Talk Business & Politics at the bank’s regional office in Jonesboro and talked banking, of course, along with economic data, education, the AEDC and business advice.

TB&P: Give our readers a lay of the land in Northeast Arkansas. What’s on the horizon and what has you occupied in the banking arena currently?

Osment: Banking in Northeast Arkansas has always been very competitive. We’ve always had lots of really good players in the market and a lot of them have been here a really long time as far as experts. It’s been very competitive for the last several years – as long as I’ve been in it – and I think that’s good overall for consumers and businesses. On the immediate horizon, regulatory changes affect us and those are a concern in making sure we can remain competitive and comply with the rules.

TB&P: What kind of deals are you seeing in the market currently?

Osment: One of the things we’re blessed with here in Northeast Arkansas is we’re so diverse. We get to see a little bit of everything. As of late, we’ve seen a lot bigger development deals that we weren’t seeing after the downturn of ’08 and ’09. Then, we were doing more of the smaller business, smaller retail-type deals, but I really think larger development has been on the forefront the last year to 18 months. It’s exploded in Jonesboro.

Agriculture has always been out there, but we’re a little more cautious because we’re not sure what the future holds there. We’ve still got some great customers, great borrowers, some good people that have been in the ag business a long time and we’re really strong there. Medical and retail are good, too. We’ve got a lot of diversity.

TB&P: Education is strong also, especially with the anchor of Arkansas State University and its activity.

Osment: Thank goodness for ASU. They’re a huge benefit for Jonesboro and without them, I don’t think Jonesboro would be what it is or Northeast Arkansas for that matter. They’re a huge economic impact for this area and community with all of the things they’ve got going on right now.

TB&P: When you look at some economic data in the region, you see a growing sales tax base, a strong housing market for several years, falling unemployment. These are all great positives. What gives you pause for caution?

Osment: When you get so competitive on the banking forefront, bankers might tend to loosen underwriting criteria, might try to be a little more aggressive. We’ve seen things loosen up in the last couple of years. If we’re not careful, we’ll reap the consequences of those looser underwriting standards. I would be a little bit concerned about that. Hopefully, where we’re headed, we’re all doing the best we can on the underwriting and keeping things tight.

TB&P: Dot the i’s and cross the t’s …

Osment: Right.

TB&P: You’ve recently been named to the Arkansas Economic Development Commission. I’m curious, what are your goals and expectations for this appointment?

Osment: First of all, I was extremely honored to be named to that. There are two other individuals from Jonesboro – Al Heringer and Doug Falls – that are on the commission. I think having three of us from Northeast Arkansas is a huge benefit for this area. I’m excited, I’m brand new and I have a lot to learn and pick up from it, but I think us staying involved from a statewide perspective for Northeast Arkansas is a benefit. We’re always trying to put forward what we have to offer, the great things that are in Northeast Arkansas and how we can benefit – not only from our region – but how we can help the state.

TB&P: What’s some of the best business advice you’ve ever given or received?

Osment: I still think Ed Way and Wallace Fowler were excellent mentors to me, and I certainly owe a lot to Davy Carter and Johnny Allison, but my dad told me once that 90% of success is showing up every day and giving it your best. I think over the years that has served me well.