Another Missouri Bank to Join Arvest

Arvest Bank Group also has a purchase in the works. The Bentonville-based company has signed a contract to acquire the Bank of Noel, an $11.1 million asset bank in Missouri.

Regulatory approval is pending but, once the deal is closed, Bank of Noel is expected to fall under the supervision of Arvest’s Bank of Bentonville, which already operates loan production offices in Anderson, Mo., and in Shell Knob, Mo.

First Gravette, an autonomous branch of Bank of Bentonville, will work closely with the addition. Malcolm Winters, president of First Gravette, will oversee the McDonald County operations in Missouri.

Bank construction still strong

Area banks continue to help the construction industry with various projects of their own.

Ross Mallioux, executive vice president for First Federal Bancshares of Arkansas, says construction began in late August on an addition to the institution’s Crossover Road office in Fayetteville. The extra space will be used as a loan processing center and should be completed within 90 days, Mallioux says.

First Federal, based in Harrison, has area branches in Fayetteville, Farmington, Tontitown, Rogers and Bentonville.

First Security Bank of Fayetteville began construction of a new 14,000-SF building at 1169 E. Joyce Blvd.

First Security, a part of First Security Bank of Searcy, is new to Northwest Arkansas. Jim Taylor is the bank’s vice president.

The new bank is expected to be completed during the second quarter of 1999. James H. Cone Co. of Little Rock is the general contractor.

Simmons First Bank of Northwest Arkansas broke ground on its new

Fayetteville branch, a 3,100-SF building on Joyce Boulevard. Joe Ruddell, vice president and commercial lending officer, will have offices in the building.

Simmons First already has area offices in Rogers, Springdale and Bella Vista.