Encore Bank has settled on locations for two of its planned branches in the Southeast.
The $1.3 billion-asset lender intends to open a third-floor office in The Pointe at 2502 N. Rocky Point Drive in Tampa, Florida. The 5,634-SF location will be Encore’s first in the Sunshine State.
Tampa’s $35 billion-deposit market is home to 41 banks including two based in Arkansas. Little Rock’s Bank OZK holds total deposits of more than $316 million in Tampa, a 0.89% share of the market, and Conway’s Centennial Bank registers total deposits of more than $284 million, an 0.80% share.
Encore also is working on a full-service branch in Charleston, South Carolina. That office will operate out of about 5,800 SF in the Lumberyard, a redeveloped warehouse project at 1859 Summerville Ave.
No other Arkansas banks operate an office in Charleston’s $10 billion-deposit market, which sports a competitive field of 24 lenders.
Encore opened its four full-service branches outside of Arkansas during 2021 in Dallas, San Antonio and Austin, Texas; and Springfield, Missouri.
In west Little Rock, Encore converted its former headquarters-turned operations center to cash in a nearly $2.7 million sale-leaseback deal. Encore sold the 8,752-SF facility at 12224 Chenal Parkway to Own Core LLC, a local investment group led by Wes Martin.