Merchants & Farmers Bank of Dumas intends to expand its Saline County presence with a Benton branch at 300 N. Main St. The plan is to remodel the former gas station property into a 2,400-SF branch.
“We’re going to try and keep that building,” said Ashton Adcock, chairman and CEO of the $180 million-asset lender. “We hope to be in it by the third quarter.”
Benton’s $890 million-deposit market is home to eight banks operating a dozen full-service branches.
“I’m a small-town guy, and I love vibrant downtowns,” Adcock said. “There’s actually not a bank in downtown Benton anymore.”
Searcy’s First Security Bank holds the largest stake in the Benton market with deposits topping $272 million (30.7%), followed by Little Rock’s Bank OZK at $182 million (20.5%).
Merchants & Farmers entered Saline County with a loan production office in Bryant that grew into a full-service in 2016.