Legacy National Bank Tallies $60 Million in Assets

Legacy National Bank of Springdale, which opened its doors on April 11, already has $60 million in assets as of June 30, officials said.

That beats Fayetteville’s Signature Bank of Arkansas’ reported $52 million as of June 20. Fellow start-up, Pinnacle Bank in Bentonville, which opened on August 30, had $66.1 million as of March 31.

But Signature opened its doors on May 9, so in dollars per days, the Fayetteville firm is winning at the asset game.

LNB couldn’t give an exact figure on its deposits as of June 30, but the Federal Deposit Insurance Corp. has them down at more than $12 million.

The bank will get additional support attracting deposits when it opens its second full-service location at Butterfield Coach Road and U.S. Highway 412 in Springdale sometime in mid-August.