Parkway Bank Closes Branches

Rogers-chartered Parkway Bank has closed two of its three offices in Northwest Arkansas.

A sign posted on the door of the office at 2000 W. Walnut St. in Rogers said the office had been closed and directed customers to the bank’s main office at 3350 Pinnacle Hills Parkway. A representative of the bank said the office at 1100 SE Walton Blvd. in Bentonville was also closed.

She said the offices were closed the weekend of Feb. 14.

Brad Collier, Parkway’s president, said the bank has no intentions of closing its remaining Northwest Arkansas operation. The buildings, one which Parkway built and the other it purchased from the Bank of Arkansas NA, will be sold or leased, he said.

The bank, which relocated its charter from Portland, Ark., to Rogers in 2004, lost $1.59 million in 2008 after losing $490,000 at the end of 2007. It maintained offices in Portland, Crossett and Monticello. Parkway employs about 14 people now, Collier said.

As of June 30, 2008, the Walnut Street office in Rogers had deposits of $3.85 million and the Walton Boulevard office had $2.62 million. The main office at Pinnacle Hills Parkway had deposits of $30.4 million and as of Sept. 30, the bank had total assets of $139.6 million.