Legacy National Bank Closes Deal to Buy Gravett Bancshares

by Arkansas Business Staff  on Monday, Jul. 9, 2018 11:00 am   1 min read

Legacy National Bank of Springdale announced Monday that it had closed on its previously announced purchase of Gravett Bancshares Inc. and its subsidiary Bank of Gravett.

The deal, which officially closed on Friday, brings Legacy BancShares' total assets to about $572 million.

The company said the Bank of Gravett and Legacy National Bank will continue to operate separately as sister banks. Rick Pollreis will remain at the Bank of Gravett in the position of executive vice president and city executive in Gravette (Benton County).

"We are pleased to welcome the employees and customers of Bank of Gravett to the Legacy banking family," said Patrick Swope, president and CEO of Legacy National Bank. "With the addition of the Bank of Gravett we are stronger both in terms of size and presence in Benton County. We are happy to add such a strong community bank to our organization."

Legacy National Bank is a full-service community bank with five locations serving Fayetteville, Bentonville, Rogers and Springdale. Bank of Gravett has three locations, in Gravette, Hiwasse and Centerton. It first announced the acquisition of Gravett Bancshares in May.

 

 

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