Encore Ready for Show-Me State Time

Encore Ready for Show-Me State Time

In addition to several Texas markets, Little Rock’s Encore Bank is wading into southwest Missouri.

The $834 million-asset lender likes a location in Suite 500 of the new Independence Marketplace project at 3720 S. Weller Ave. for its Springfield office.

Two other Arkansas-headquartered lenders are among a roster of 28 with offices in Springfield. Ranked No. 11 in terms of deposits is Simmons Bank of Pine Bluff, $322 million (3.33%), followed by Arvest Bank, $240 million (2.49%), at No. 12.

All told, Springfield is home to 98 banking offices operated by 28 banks.

A trio of Missouri banks hold the biggest stakes in the $9.6 billion-deposit market: Great Southern Bank of Reed Springs, $2 billion (21.08%); Commerce Bank of Kansas City, $1.1 billion (12.09%); and Central Bank of the Ozarks, $1 billion (10.37%).

Encore recorded a profit of $809,000 during the first quarter, with a staff that has grown to 142. That compares with net income of $331,000 with a staff of 46 last year.