First Bank Corp completes buyout of First State Bank

Fort Smith-based First Bank Corp has announced completion of its acquisition of Russellville-based First State Bank. The planned transaction was first announced in January, and results in a bank company with more than $3.5 billion in assets.

Financial terms of the transaction between the two privately-held companies were not disclosed.

“First State Bank has built an outstanding reputation in the communities it serves through dedicated bankers and a commitment to service excellence,” First Bank Corp noted in a statement. “We are excited to grow alongside a community bank that shares our values and vision. Together, we remain committed to supporting First State Bank and its team as they continue their legacy of serving families, businesses, and communities.”

First National Bank of Fort Smith, with $2.274 billion in assets at the end of 2025, is almost more than four times the size of First State Bank with $613.664 million in assets at the end of 2025.

First National ended 2025 with $46.92 million in net operating income, according to the Federal Deposit Insurance Corp. (FDIC), up 16.2% compared with $36.086 million in 2024. The bank ended 2025 with total deposits of $1.968 billion, up from $1.884 billion at the end of 2024.

First State Bank had 2025 net operating income of $7.844 million, up 27.3% compared with $6.161 million in 2024, according to the FDIC. The bank ended 2025 with $539.8 million in deposits, up from $527.328 million at the end of 2024.

First Bank Corp is a holding company comprised of First National Bank of Fort Smith, First National Bank of NWA, National Bank of Sallisaw, Citizens Bank and Trust, and Central National Bank of Poteau. The company has 41 banking locations and 49 interactive teller machines (ITMs) in the Fort Smith metro, Northwest Arkansas, and Eastern Oklahoma. The bank was founded in 1872.

First State Bank was founded in 1934 in Plainview and moved its headquarters to Russellville in 1999.