Arnold Bank to Expand in North Dallas

Century Bank of Texarkana, Texas, a bank which has Truman and Anita Arnold as its majority shareholders, announced plans this week to expand its community banking offices in north Dallas.

The bank said it recently opened its first office there, offering commercial and personal lending and mortgage services. Plans call for two more branches to open in 2004.

Truman Arnold founded Truman Arnold Cos., a petroleum products wholesaler, which Arkansas Business this year named the state's largest private company. Arnold also has a 14.75 percent stake in Russellville Bancshares, which recently called off its $54 million stock swap merger of Home Bancshares Inc. of Conway.

"Dallas has a strong economy and long-term projections are very good," Joe Nichols, Century Bank CEO, said. "We believe the Dallas market provides us with the opportunity to be successful with our convenient banking concept."

The new offices are part of the bank's continued expansion, which began in 1998.

Founded in 1900, Century Bank has 11 locations in Texas and four in Arkansas. It has more than 200 employees, $572 million in assets, $487 million in deposits and $350 million in loans.