Assets Jump at McIlroy Bank

A $30 million increase in assets during the first half of 1997 has McIlroy Bank & Trust officials hoping for repeat performance during the second half. The Fayetteville bank finished June with $368 million in assets, up from $338 million since January.

“We’re really outpacing what we’ve done the last few years, and the last few years have been very good,” says Jim Glenn, president of McIlroy Bank.

Checking figures for the last couple of years, Glenn found that the bank’s on-balance-sheet assets increased about $30 million in 1995 and another $30 million in 1996 – performances equal to what the bank has done for just the first half of this year.

Return on equity is up, too, from 16.3 percent at mid-year in 1996 to 16.7 percent this year.

That puts McIlroy at the forefront among Arvest banks, of which the Fayetteville bank is the third-largest.

Glenn says the increase has been across-the-board in commercial as well as other areas of business. “We’ve done quite a bit of commercial busness, but we’ve done a lot of consumer and retail business, too.” Glenn says he believes customers are voting with their dollars, and that means more business for his institution.