Generations Bank, an approximately $500 million asset lender, has an application pending with the Arkansas State Bank Department to move its charter from the tiny south Arkansas town of Hampton to Rogers.
Generations Bank has nine locations in Arkansas including one full-service branch in Rogers, Fayetteville, Siloam Springs and Van Buren. The company will break ground this spring on a new banking center, near the entrance to the Bentonville Community Center.
“The decision to move the charter is about the bank moving forward while never forgetting how we have arrived to where we are today,” the company said in a statement.
The Harrell family started the bank in 1907, and as one of the oldest family-owned banks in Arkansas, it remains a wholly owned subsidiary of Harrell Bancshares Inc.
Jon Harrell, the fifth generation of Harrell family bankers, is chairman of Harrell Bancshares. Harrell and a majority of the bank’s management team are all based in the bank’s Rogers banking center at 3710 Southern Hills Blvd.
Pending approval from the state bank department, Generations Bank will be the only bank in Arkansas chartered in Rogers.