Encore Bank Set to Make Northwest Move


Encore Bank Set to Make Northwest Move
Encore Bank will soon get a bird's-eye view of the Rogers market from its eighth-floor offices in the Hunt Tower. (Sage Partners)

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

INSTITUTION BRANCHES DEPOSITS* PCT.
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%
 TOTAL 37 $1,890,452 100%
*In thousands
Source: FDIC (June 30, 2019)