Missouri-based Sterling Bank, a $1.37 billion-asset lender based in Poplar Bluff, has started construction of its second banking office in Northwest Arkansas.
Sterling is building a full-service branch at the southeast corner of the intersection of South 52nd and Magnolia streets in Rogers. The 2.38-acre lot sits north of Aloft Hotel.
Commerce Construction of Springdale is using a building permit valued at $3.13 million to build the 16,649-square-foot building. Others working on the project are Dille Pollard Architecture, Crafton Tull, Case Engineering and Emma Lambeth Designs.
Sterling Bank is a wholly-owned subsidiary of Sterling Bancshares Inc. The company entered the Arkansas market in 2020 by opening a loan production office at 1607 N. College Ave. in Fayetteville. The office is in leased space and opened June 1. On Oct. 15, 2020, the office started taking deposits and became a full-service branch.
Sterling’s new construction on Steele Boulevard in Fayetteville is nearing completion and should be done in the first quarter of 2022. The bank also owns land on Walton Boulevard in Bentonville for future development.
Johnathon Welch is the bank’s Northwest Arkansas market president and Charles Johnson manages operations. The community board includes Eric Arthur, Johnathon Welch, Dan Cheek, Alan Cole, Dan Ellis, Cory Scott, and Holland Weaver.
Sterling Bank has two locations in St. Louis, eight locations throughout southeast Missouri, one in Kansas City, Mo., and a location in the Chicago suburb of St. Charles, Ill.