Did you know Little Rock will have a new bank in an old bank building?
Relyance Bank of Pine Bluff recently bought a Little Rock branch building from Simmons First National Bank.
The price for the 1,209-SF building at 11000 Financial Centre Parkway? $1.2 million.
The branch is expected to open in the fall. But that’s not all for Relyance, which was known as Pine Bluff National Bank until a year ago and then absorbed sister institution Hot Springs Bank & Trust in December.
Relyance is negotiating a lease for a building on Cantrell for another branch, said President and CEO Chuck Morgan.
“The need for growth” is what brought Relyance to Little Rock, Morgan said. And “we’ve got quite a few customers in Little Rock as it stands right now.”
If the two Little Rock branches are successful, more will follow, Morgan said. So stay tuned.
Relyance currently has 12 branches, mostly in Pine Bluff and Hot Springs.
It reported total assets of $461.6 million as of March 31, up 17.2 percent from the same period a year ago.
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