Generations Bank is planning to build a new branch location on Van Asche Drive in north Fayetteville, just to the west of the new UARK Federal Credit Union.
The land purchase hasn’t been officially closed — an entity controlled by Little Rock developer Leonard Boen is the owner — but that is eminent.
The 4,600-SF, single-story branch will replace the bank’s current Fayetteville office in leased space at the corner of Zion Road and Vantage Drive. It opened as an LPO in January 2014.
The architect is Bates Architects, and construction should begin in August. An animation of the building can be seen here. Joe Ruddell, the bank’s Fayetteville market president, said the building should open in the first quarter of 2017.
“We’ve seen some good growth in our deposits and our loans, so this is definitely a positive sign for us,” Ruddell said.
Generations Bank, with assets of $385.7 million as of March 16 according to the Federal Deposit Insurance Corp., is a wholly owned subsidiary of Camden-based Harrell Bancshares Inc. It has 10 locations across the state, including one office each in Rogers, Fayetteville, Siloam Springs and Van Buren.