Another Bank Looks at Northwest Arkansas Market

Yet another bank is looking at the Northwest Arkansas market. BancorpSouth Bank of Tupelo, Miss., operates 10 offices in the Fort Smith area but has its eyes on Benton and Washington counties.

Jim Patridge, the bank’s Fort Smith president, said it’s a natural extension, and that “one location will not do it.” He said the bank will likely build a local office within six months.

BancorpSouth has $10.5 billion in assets and 240 offices in Alabama, Arkansas, Louisiana and Mississippi.

In March of 2002, BancorpSouth merged with Pinnacle Bancshares Inc. of Little Rock, a deal reportedly worth $21.2 million. Investors in Joe Mill’s new Pinnacle Bank bought the Pinnacle name for use in Rogers earlier this year. Pinnacle officially opened to the public on Aug. 30 from a temporary office in Bentonville.

Metropolitan National Bank and Bank of the Ozarks, both of Little Rock, have also said they’re joining the party.