From its Little Rock headquarters to Jonesboro and now Rogers, Encore Bank is in the process of establishing a northwest Arkansas office on the eighth floor of the Hunt Tower at 5100 W. J.B. Hunt Drive.
The $247 million-asset lender is joining a competitive field of 21 banks in the $1.9 billion-deposit Rogers market.
Arvest Bank of Fayetteville operates seven full-service branches in Rogers and holds a dominating 40.04% share of deposits ($757 million).
Three banks hold a 5% or greater share of deposits in the market: Booneville’s First Western Bank with three full-service branches, 8.13% ($153 million); Bank of America in Charlotte, North Carolina, with one office, 6.74% ($127 million); and Regions Bank of Birmingham, Alabama, with two offices, 5.85% ($110 million).
Four lenders register shares of deposits in Rogers greater than 3%: Danville’s Chambers Bank with one branch, 4.78% ($90 million); Searcy’s First Security with three offices, 4.71% ($89 million); Fort Smith’s First National Bank with two offices, 4.53% ($85 million); and Generations Bank of Rogers with one office, 4.27% ($80 million).
Rogers Bank Market
Ranked by Deposit
|Arvest Bank, Fayetteville||7||$756,982||40.04%|
|First Western Bank, Booneville||3||$153,764||8.13%|
|Bank of America, Charlotte, NC||1||$127,413||6.74%|
|Regions Bank, Birmingham, Ala.||2||$110,563||5.85%|
|Chambers Bank, Danville||1||$90,276||4.78%|
|First Security Bank, Searcy||3||$89,025||4.71%|
|The First National Bank of Fort Smith||2||$85,628||4.53%|
|Generations Bank, Rogers||1||$80,669||4.27%|
|Bank OZK, Little Rock||3||$62,196||3.29%|
|Simmons Bank, Pine Bluff||2||$61,475||3.25%|
|Grand Savings Bank, Grove, Okla.||2||$45,997||2.43%|
|United Bank, Springdale||1||$43,333||2.29%|
|Legacy National Bank, Green Forest||1||$35,619||1.88%|
|Iberiabank, Lafayette, La.||1||$33,240||1.76%|
|First National Bank, Fort Smith||1||$28,024||1.48%|
|The Citizens Bank, Batesville||1||$25,371||1.34%|
|Great Southern Bank, Springfield, Mo.||1||$19,833||1.05%|
|Centennial Bank, Conway||1||$13,368||0.71%|
|BancorpSouth Bank, Tupelo, Miss.||1||$11,644||0.62%|
|Signature Bank of Arkansas, Fayetteville||1||$9,670||0.51%|
|Intrust Bank, Wichita, Kan.||1||$6,362||0.34%|