After leaping from its Delta home ground to northwest Arkansas with a Springdale branch last year, Partners Bank has waded into the central Arkansas market with a loan production office in Conway.
The $328 million-asset lender is operating with a staff of five out of leased quarters at 1055 Steel Ave. in the Village at Hendrix.
Michael Bynum, executive vice president and central Arkansas regional president for Partners, did business out of his Conway home last year in advance of the LPO.
“We’re tickled to be here in Conway,” Bynum said. “We’ve got $75 million of loans on the books, and we’re shooting for $100 million by year’s end.”
The plan is to convert the LPO into a full-service branch by August. Conway is home to 39 full-service locations operated by 15 banks.
After entering Conway’s $2.2-billion deposit market, Partners is looking to expand elsewhere in central Arkansas.
“The next step would be to open a Little Rock office by the first or second quarter next year,” Bynum said. “There’s a lot of discussion about that. We could open in Little Rock sooner. It just depends on the team we put together.”
Based in Helena-West Helena, Partners recorded a profit of more than $1.6 million in 2020 supported by a staff of 68. That’s a nearly 70% increase over net income of $978,000 in 2019.