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Bodcaw, First Community Banks Branching Out

1 min read

A pair of lenders made moves to expand their branch networks into neighboring counties.

Bodcaw Bank of Stamps (Lafayette County) is working to establish a location in Columbia County on a 3-acre site acquired in May for $288,000.

The new office at 2125 N. Jackson St. in Magnolia, near the Southern Arkansas University campus, would be the $77 million-asset lender’s first branch. The addition of Bodcaw Bank would expand the competitive field of banks in Magnolia to five.

Batesville’s First Community Bank is looking to establish its first office in Jackson County. The vacant branch at 2525 McLain St. in Newport was last occupied by Union Planters Bank of Memphis.

The move would expand the $1.3 billion-asset lender’s Arkansas footprint to nine Arkansas counties and the number of banks in Newport to four.

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