First Arkansas Bank & Trust Also Absorbing Bank Branches

by Arkansas Business Staff  on Monday, Jun. 30, 2014 12:00 am  

As you can read in this week's issue, Arkansas Federal Credit Union has bought a couple of excess branch offices that Simmons First National Bank had left over from its acquisition of Metropolitan National Bank last fall.

One is a former Metropolitan branch in Conway and one is in a former Simmons branch in Springdale.

But what about the Metropolitan branch in AFCU’s hometown of Jacksonville, the one exquisitely located in front of the Walmart Supercenter on Highway 67/167? Simmons’ decision to close it surprised some Metropolitan customers since Simmons didn’t have a branch in Jacksonville.

It seems AFCU was beaten to the punch on that one by crosstown rival First Arkansas Bank & Trust.

Larry Wilson, CEO of First Arkansas, confirmed the deal. And he threw in a couple more for good measure: the former Metropolitan branches at the intersection of Highways 321 and 89 in Cabot and at Kiehl and Brockington in Sherwood.

“We have not closed on any of them yet,” Wilson said in an email. “We will be doing so soon and plan to open these facilities, after a few minor modifications, in July and August.”

The Jacksonville branch will replace the small branch First Arkansas currently operates inside the Walmart, and the new Cabot branch will replace a branch inside the Doublebee’s convenience store next door.

“The third location, in Sherwood, fills a gap in our branch footprint between Gravel Ridge and Wildwood,” Wilson said. “We are excited about the convenience that these locations will provide for new and existing customers.”

 

 

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