First Security Doubles Presence in Fort Smith

After entering the Fort Smith market in 2018, First Security is adding a second branch. The $7.5 billion-asset lender bought the location at 7613 Rogers Ave. for $1 million in September.

The east Fort Smith site, 5 miles from First Security’s downtown location, is the future home of full-service branch No. 78. Fort Smith’s $3.1-billion deposit market has attracted a competitive field of 14 banks.

The four largest shares are held by First National Bank of Fort Smith, $1 billion (33.19%); Arvest Bank, $706 million (22.71%); BancorpSouth Bank of Tupelo, Mississippi, $463 million (14.9%); and Regions Bank, $207 million (6.67%).

First Security reported first-quarter net income of $29.4 million compared with $26.2 million 12 months ago.