First Security Bancorp Marks Milestone for New Building

by Arkansas Business staff  on Friday, Apr. 2, 2004 10:42 am  

Financial services holding company First Security Bancorp on Thursday celebrated the topping-out milestone of construction on its new First Security Center, a 14-story, $25 million multiuse building in Little Rock's River Market District.

The 180,000-SF building, which will include a 120-room Marriott Courtyard Hotel, offices for First Security Bancorp and Crews & Associates, and condominiums, is scheduled to be completed in October.

First Security formed an alliance with Moses Tucker Investments LLC of Little Rock and McKibbon Brothers Inc. of Gainesville, Ga., to build the structure, announced in October 2002.

In honor of the building reaching its highest point in construction, workers used a crane to hoist a steel beam and evergreen tree, along with American and Arkansas flags, to the top of the structure.

Also Thursday, Reynie Rutledge, chairman and CEO of First Security Bancorp, said the company plans to add five banking centers, other than the one that will operate in the new First Security Center, throughout Little Rock during the next 12 months.

"This is just another step toward establishing a statewide banking network for First Security and yet another example of our continued commitment of investing in Arkansas," Rutledge said.

Privately held First Security Bancorp of Searcy has $185 million in total capital and $1.8 billion in assets. It employs more than 850 and has more than 45 locations offering financial services including investment-banking services; public finance; real-estate development; and revitalization, leasing, mortgage and insurance services.



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