Chambers Takes Spa City Count to Baker's Dozen

Chambers Takes Spa City Count to Baker's Dozen
As of June 30, 2019.
Source: FDIC

The pending entry of Danville’s Chambers Bank in Hot Springs will increase the tally of bank competitors in the $1.7 billion-deposit market to a baker’s dozen.

The $845 million-asset lender intends to open a new branch at 3505 Central Ave. The spa city office won’t be the first Garland County location for Chambers. The bank operates two branches in Hot Springs Village.

Earlier this year, Chambers Bank expanded its statewide footprint to 10 counties with the $17 million acquisition of Dardanelle’s River Town Bank. The purchase added Pope and Faulkner counties to the Chambers branch map.

The current roster of banks in Hot Springs reflects a reshuffling of the market’s dozen lenders from a decade ago.

Bank of America simply exited the scene by 2013 while three others left through acquisition: Arkadelphia’s Summit Bank merged with Little Rock’s Bank OZK, Hot Springs Bank & Trust combined with Pine Bluff’s Relyance Bank, and First National Bank of Hot Springs became part of Little Rock’s Bear State Bank, which in turn was folded into Fayetteville’s Arvest Bank.

Hot Springs Banks
Ranked by Deposits

  Offices Deposits* Share
Arvest Bank, Fayetteville 6 $311,028 18.35%
Bank OZK, Little Rock 6 $310,887 18.34%
Regions Bank, Birmingham, Ala. 6 $306,110 18.06%
Simmons Bank, Pine Bluff 3 $176,086 10.39%
Southern Bancorp Bank, Arkadelphia 3 $146,376 8.63%
U.S. Bank, Cincinnati 4 $109,338 6.45%
Diamond Bank, Murfreesboro 2 $84,854 5.01%
Relyance Bank, Pine Bluff 3 $77,126 4.55%
First Security Bank, Searcy 3 $63,253 3.73%
Malvern National Bank 3 $52,632 3.10%
Citizens Bank, Batesville 3 $39,542 2.33%
BancorpSouth Bank, Tupelo, Miss. 1 $18,067 1.07%
TOTAL 43 $1,695,299

*In thousands as of June 30, 2019.
Source: FDIC