Chambers Bank Sets Sights on Rogers
by June 20, 2016 12:00 am 161 views
For more than a year, Danville-chartered Chambers Bank has been searching for a suitable location to construct a new, larger banking center in Benton County.
The search has evidently ended on South 52nd Street in Rogers.
The bank recently bought a commercial 2.38-acre lot directly north of Aloft hotel.
The price? $1.7 million. That’s a whopping $16.40 per SF.
The kicker? Chambers owned the land just a few years ago, foreclosing on the property from Metro Park South LLC in 2010.
Gerald Johnston, through his Horsebarn Holdings LLC, acquired the lot at auction in March 2012. He is the landowner who sold it back to Chambers.
Circle of life.
A new banking center would take the place of Chambers’ 3,818-SF branch at 1100 S.E. Walton Blvd. It is adjacent to Walmart Pickup Grocery, which explains why Wal-Mart Stores Inc. bought the branch in a sale-leaseback deal in January 2015 for $3.7 million.
According to the most recent FDIC data, Chambers’ lone Benton County branch had deposits of $23.3 million, which ranked 20th out of 28 banks doing business in Benton County.