Relyance Expands, Takes Possession of Heartland Branches

Relyance Expands, Takes Possession of Heartland Branches

Three former Heartland Bank locations have expanded the footprint of Pine Bluff’s Relyance Bank to Dallas and Grant counties. Relyance acquired two of the branches in tandem deals in March with Simmons Bank of Pine Bluff, which took over debt-laden Heartland on Aug. 28. The deals encompassed:

  • A 6,449-SF branch at 4937 Hwy. 5 in Bryant, more than $1.3 million.
  • A 3,720-SF branch at 610 W. Fourth St. in Fordyce, $625,000.

The sale of a 5,116-SF branch at 108 S. Main St. in Sheridan hasn’t closed yet, and for now, Relyance is leasing the office from Simmons.

The branches expand the Relyance network to 18 full-service locations in seven contiguous counties. The $760 million-asset lender had one Saline County branch in Hot Springs Village prior to the addition of the Bryant office.

Heartland Bank’s charter was canceled at the close of business on March 9, and all of its deposits were assumed by Relyance.

Relyance Bank, Pine Bluff
Total Assets: $803,986 | Net Income: $1,546 | Staff: 181
18 full-service locations: Five in Pine Bluff, three each in Little Rock and Hot Springs and one each in Bryant, Hot Springs Village, Sheridan, Fordyce, Star City, Redfield and White Hall

  Total Assets Net Income
2017 $759,792 $5,967
2016 $653,395 $5,521
2015 $563,771 $4,946
2014 $511,621 $5,010
2013 $465,897 $5,205
2012 $403,704 $4,623
2011 $386,241 $5,230

As of March 31. All dollars in thousands.

Citizens Bank Also Branching Out
Citizens Bank of Batesville is opening a new full-service branch at 1698 Higdon Ferry Road in Hot Springs. The office will be the third in the Spa City for the $804 million-asset lender.

Of the 13 banks operating in Hot Springs, Citizens holds the 11th-largest market share of deposits: 2.04 percent ($33.7 million). At last count, there are 43 banking offices in Hot Springs.