Generations Bank announces leadership change in Benton County

Rogers-chartered Generations Bank announced Tuesday (Nov. 2) a new market president in Siloam Springs.

Tim McCord plans to retire on Jan. 4, 2022. He’ll be succeeded by executive vice president Steve Wilmott.

According to a news release, McCord started his banking career almost 40 years ago. He’s worked for Generations Bank for 16 years.

“We thank Tim for the excellent service and leadership that he has contributed to our bank over the last sixteen years,” Generations Bank President Joe Ruddell said in a statement. “Tim has been a leader in the Siloam Springs community for many years now, and we are excited to support him in all of his future endeavors.”

McCord serves on various boards including Siloam Springs Public Facilities and Siloam Springs Regional Hospital.

According to the release, McCord and Wilmott have worked together for most of their careers.

“I am blessed to have been able to work with and learn from Tim for the past 34 years,” Wilmott said in a statement. “He has not only been my boss but my friend. He has the utmost integrity and through his leadership and hard work, has grown this to be a very successful branch in Siloam.”

Generations Bank also announced new market presidents recently in Fayetteville and Rogers.

Generations Bank relocated its charter from south Arkansas to Rogers in the spring of 2019.

The company now has 10 brick-and-mortar locations in Arkansas, including five in Northwest Arkansas and the Fort Smith metro —Bentonville, Fayetteville, Rogers, Siloam Springs and Van Buren.

As of June 30, Generations Bank had assets of $663 million, according to the FDIC. That’s an increase of nearly 10% from the previous year.