Bank OZK to Offer Peachtree Branch in Atlanta

Bank OZK to Offer Peachtree Branch in Atlanta

The only Arkansas bank on the ground in Atlanta’s massive $115 billion-deposit market is developing its second full-service branch there.

Bank OZK of Little Rock will be setting up shop at 3215 Peachtree Road NE, the one-time home of Chima Brazilian Steakhouse.

The $26 billion-asset lender also conducts business from three loan production offices in Atlanta, where 37 other lenders operate.

Two banks based in Charlotte, North Carolina, account for the largest deposit holdings in the Atlanta market: Truist Bank, $41.7 billion (36.14%), and Bank of America, $28.5 billion (24.66%). Coming in at No. 3 is Wells Fargo Bank of Sioux Falls, South Dakota, with deposits of $17.6 billion (15.27%).

While Bank OZK reports a minuscule $4.2 million in Atlanta deposits, it holds the 10th-biggest total in Georgia at $5.7 billion. The bank’s network of 68 full-service locations in Georgia is second only to Arkansas, where the count will stand at 74 come Jan. 1.

Tied to that census is the sale of Bank OZK’s Magnolia office.

Peoples Bank of Magnolia is paying about $7.1 million for the purchase of assets and the assumption of liabilities in connection with that 305 N. Jackson St. branch.