Little Rock-chartered Central Bank is making arrangements to relocate its lone Northwest Arkansas branch from Rogers to Bentonville.
The Bentonville branch at 3001 S.E. J St. is anticipated to open the first week of October. Tim Boudrey, a co-owner of Landmarc Custom Homes of Springdale, owns the 7,650-square-foot building. He bought the property through his Bethel Blacktop Road LLC in November for $970,000. Printing company Southern Reprographics Inc. (SRI) was the previous owner. SRI has relocated its Bentonville office to a smaller space nearby at 2803 S.E. Mid Cities Drive.
Boudrey said Central Bank has signed a seven-year lease for the building. The bank entered the market last year with its acquisition of Pinnacle Bancshares Inc. of Rogers, parent of Pinnacle Bank, which has maintained a location on West New Hope Road for several years. Central Bank also has two bank offices in Little Rock.
David Bordovsky, NWA market president for Central Bank, said the Bentonville office will have a more efficient design for the bank’s operations. He also said the heavily trafficked Southeast J Street, one of Bentonville’s primary north-south arteries, is appealing.
As of June 30, according to the Federal Deposit Insurance Corp., Central Bank had assets of $186.2 million, up more than 80% from the same date in 2015.
There are 16 lenders who have at least one brick-and-mortar office in Bentonville.