United, They Conquer
by January 7, 2002 12:00 am 58 views
United Bank in Springdale flexed a little muscle with its recent $1.85 million acquisition of the Simmons First Bank of Northwest Arkansas branch at 670 E. Joyce Boulevard in Fayetteville. The deal, set to close Feb. 4, marks United’s first foray outside its hometown and signals the start of a more aggressive company climate.
The sale only includes the physical property, where Simmons will vacate Feb. 1.
Jeff Lynch, United’s president, is apparently developing a more sales-oriented culture at the bank and directing more attention toward commercial business. United, with $84 million in assets through 2001, will open its Joyce Boulevard branch on March 21.
United is also eyeing Rogers and west Sunset Avenue in Springdale for prime branch locations.
The Fayetteville branch, a 3,000-SF full-service facility on about 1.5 acres, will give United a total of three locations. Three new hires have already been made for the new spot, which will feature a full-time commercial loan officer, teller staff and maybe even a mortgage originator.