United Bank to Establish Investment Company

United Bank in Springdale is close to finalizing an agreement to establish UB Financial LLC, a diversified investment company that will operate under the United Holding Co. umbrella.

That will give the bank a complete cadre of investment products such as stocks, bonds, mutual funds, annuities and even life insurance to compete with the investment arms of Arvest Bank Group Inc., Bank of America, Regions Bank and others.

Apparently the bank has already identified a brokerage affiliate that will support the services, but details about that affiliation are not yet available. The deal, however, is expected to be consummated within 30 to 60 days.

The likelihood is that the investment division of UHC will at least initially be housed at the bank’s location on S. Thompson Street.