The Bank of Fayetteville Names New Chairman

The Bank of Fayetteville N.A. named David McClinton as chairman of the board of directors on July 18. McClinton replaced the bank’s founder and former president and CEO, John Lewis, who retired in April.

McClinton was part of the group that founded the organization in 1987 and has since been a member of the board of directors. He is also a founding board member and past president of Northwest Arkansas Radiation Therapy Institute, past board member of Arkansas Blue Cross Blue Shield and past chairman of the Fayetteville Chamber of Commerce. He also served as president of McClinton-Anchor.

“Really, the bank is in great shape,” McClinton said. “I don’t see where my job is going to be very hard with [President and CEO Mary Beth Brooks] and the rest of the team.”

BOF operates nine offices in Washington County and had $366 million in assets as of March 31, up 31 percent from $280 million a year earlier.

Deposits for the institution have climbed from $230 million as of March 31, 2004, to $252 million for the same period this year, a 9.6 percent increase.

The bank’s return on average assets was 0.65 percent as of Dec. 31, down from 0.81 percent a year earlier. Return on equity fell to 9.32 percent for the year-end, down from 11.6 percent for year-end 2003.