FNBC Bancorp acquires RiverWind Bancshares

Central ArkansasFinanceNews BriefsNortheast Arkansas

by George Jared ([email protected]) ago 0 views 

FNBC Bancorp, the bank holding company for FNBC Bank, has entered into an agreement and plan of merger to acquire RiverWind Bancshares.

RiverWind will be merged with and into FNBC, followed by the merger of RiverWind’s wholly owned subsidiary, RiverWind Bank, a $170 million asset community bank headquartered in Augusta with and into FNBC Bank, with FNBC Bank continuing as the surviving bank.

The proposed transaction, which is subject to regulatory approval, is expected to close before the end of the year. Once complete, FNBC’s asset size will be about $1 billion and will expand its presence into central Arkansas for the first time.

In addition to its Augusta headquarters, RiverWind has two branches in Searcy and one branch in Beebe.

Founded in 1912, FNBC Bank has a presence in north-central and northeast Arkansas and south-central Missouri.

“This is an exciting opportunity for both organizations,” said Chad Hudson, FNBC CEO & President. “We are proud to welcome the customers, employees and communities of RiverWind Bank to FNBC. Both organizations share a strong commitment to customer service, local leadership and community involvement, making this a natural fit for FNBC.”

Customers of RiverWind will continue to receive the same service and will gain access to FNBC’s products, services and digital banking capabilities. Additional details regarding customer accounts, system integrations and transition timelines will be communicated in the coming months. Until the transaction is finalized, customers should continue banking as they normally would.

“Community banking is built on relationships,” said Marty Sellars, FNBC Executive Vice Chairman. “We are committed to making this transition as smooth as possible for customers and employees while preserving the local relationships that are so important to these communities.”

“In meeting with the leadership of FNBC, it is evident that we share many of the same values and beliefs about how to care for our customers and communities,” said Casey Cullipher, RiverWind Bank CEO & President. “Their culture is strong and they take a people-first approach in all they do. I am confident that this acquisition will create valuable opportunities for RiverWind’s employees, customers and the communities we serve.”