Fayetteville-based Signature Bank of Arkansas completed a deal March 9 to buy the 72,000-square-foot Crockett Tower in Harrison. The five-story property is the city’s tallest building. It previously housed multiple banks and offices for NorthArk Community College.
According to county property records, Signature Bank paid $3.68 million for the property. Crockett Properties was the seller.
“Signature Bank of Arkansas was born over a handshake with Community First Bank’s president, King Gladden, in Harrison in 2004,” Signature Bank president and CEO Gary Head said. “Just like our decision to open a bank in Harrison, this purchase is about helping the people who helped us get our start and solidifying our place in a community that means so much to us.”
Signature Bank established a temporary office in Crockett Tower last summer. The company is remodeling about 8,400 square feet for a permanent Harrison banking office and will rename the building Signature Tower.
Karlea Newberry, who manages the bank’s Harrison office, said more than 20 tenants occupy the building, which also has an event space.
“This is a great place to do business, and we still have room for businesses to move in,” she said. “With the purchase of this tower, we hope the public can see our commitment and dedication to this community, and give us the opportunity to show them our style of banking.”
Signature Bank of Arkansas has eight banking offices throughout Arkansas. According to the FDIC, as of Dec. 31, the bank had assets of $851.71 million in assets, up 13.6% from the previous year.
Signature Bank of Arkansas will be the 10th bank doing business in Boone County.