Fayetteville leader David Russell to retire from First Security Bank

David Russell, president of First Security Bank Fayetteville since 2008, has announced his retirement effective March 14, 2024. A reception is planned in Fayetteville to honor his service with the Searcy-based statewide bank.

Russell, 69, began his career with First Security in 2002 as a lender and retail bank manager when there were six branches in Northwest Arkansas. The market has grown to 17 branches. He began his banking career in Texas and spent his early years working for a gas utility.

“When I got out of graduate school, I got a job as a financial analyst with a public utility in Houston. It wasn’t long before I discovered that sitting behind a desk and crunching numbers was not for me. I have to be around people. And so I moved to a bank there in Houston into a loan officer training program and that’s how I broke back into banking because of my experience,” Russell tells the Northwest Arkansas Business Journal.

Hired by First Security Bank Market President Jim Taylor, Russell played a key role in obtaining the only bank branch on the University of Arkansas campus and in the construction of two new branches in Fayetteville. He says the Rutledge family, owners of First Security Bank, made the transition from big banking to family, community banking a joy.

“After working for two large banks in Houston and Arkansas, First Security was a breath of fresh air,” Russell said. “I have spent half of my career here, which is a testament to how great a place it is to work.”

“David has been an excellent team leader who cares deeply for his customers and community,” said Adam Rutledge, Northwest Arkansas president of First Security Bank. “He has been an integral part of First Security’s growth in Northwest Arkansas over the last 20 years. We will all miss his jovial personality and words of encouragement.”

Russell has been active in the Northwest Arkansas community through volunteer service. During his tenure at First Security Bank, he served on the Fayetteville Public Education Foundation board, Fayetteville Chamber of Commerce board and Leadership Chair for Class 20, the local board and national committees for the American Diabetes Association, Fayetteville Public Library Foundation board, and Washington Regional Hospital Foundation board, for which he is incoming chair.

He doesn’t plan to lay off some of his volunteer work in retirement, but he does have plans to travel. Children and grandchildren in Northwest Arkansas will certainly keep him around, but he’ll be spending time traveling globally from a launching pad in New York City, where his daughter lives.

“I’ve always wanted to experience New York City. I’ve spent a lot of time there. I used to work for Chase [Bank] when I was in Houston, and so I spent a fair amount of time in New York and just love the vibrancy of the city and all the things to do. The side benefit is it’s a great place to bounce from to go to Europe. Airfare is so cheap out of JFK and Newark to get to Europe, and I want to spend a fair amount of time in Europe,” he said.

The public is invited to a retirement reception in his honor to be held Thursday, March 14, from 5-6:30 p.m. at the Joyce banking center located at 1219 E. Joyce Blvd. in Fayetteville.