Posted 7/1/2013 12:00 am
Updated 5 months ago
The press release issued a couple of week ago said Joe Spivey had joined Integrity First Bank as regional president in northwest Arkansas.
Here’s what it didn’t say:
Integrity First Bank, known as First National Bank & Trust of Mountain Home until last summer, needs a northwest Arkansas regional president because it has already established a loan production office in Rogers and will be ready for full-service banking there by mid-August.
“We see a vibrant economy in northeast Arkansas,” President I. Joe Miles told Whispers.
The new branch at 207 N. 24th St. has three employees.
Spivey was going to need new business cards anyway. Integrity hired him away from Liberty Bank of Arkansas, where he was the northwest Arkansas community bank president, and Liberty is, of course, being acquired by Centennial Bank of Conway.
This is Integrity First’s first venture outside northeast Arkansas. It currently has two offices in Mountain Home, two in Pocahontas and one each in Jonesboro, Gassville, Lakeview (Baxter County) and Flippin.
Integrity First had $408.3 million in assets as of March 31. It earned $5.2 million in 2012 and just over $1 million in the first quarter of this year.
What’s one more bank in northwest Arkansas anyway? At last count, there were 38 financial institutions operating 210 branches in the Fayetteville-Springdale-Rogers metropolitan statistical area — and 27 banks operating 97 branches in Benton County alone.