A new lender plans to make its Arkansas debut in the ever-popular $3.2 billion-deposit Rogers market. Academy Bank of Kansas City, Missouri, is working on a branch at 4301 S. J.B. Hunt Drive, Suite 140.
The $2.6 billion-asset lender operates 23 brick-and-mortar locations along with 50 offices in Walmart stores spread across Missouri, Colorado, Kansas and Arizona.
The addition of Academy will expand the competitive field of banks in Rogers to 24, of which six hold at least a 5% share of deposits in the market.
The list includes Arvest Bank of Fayetteville, $1 billion (33.56%); First Western Bank of Booneville, $255 million (7.98%); Generations Bank of Rogers, $221 million (6.93%); Regions Bank of Birmingham, Alabama, $212 million (6.65%); Chambers Bank of Danville, $182 million (5.69%); and Bank of America in Charlotte, North Carolina, $164 million (5.13%).
Academy recorded an $11.1 million profit through the first half of 2024, supported by a staff of 506. Net income totaled $25.2 million last year.
Bryant Branch
Greenbrier’s First Service Bank has set its sights on Bryant as the next market to expand its branch network. The $689 million-asset lender plans to open an office at 3625 Hwy. 5N, Suite 400.
The pending addition of First Service will increase the count of banks on the ground in Bryant to a baker’s dozen.
The biggest shares of the $800 million-deposit market are held by First Security Bank of Searcy, $180 million (22.57%); Arvest Bank, $162 million (20.24%); Regions Bank, $101 million (12.62%); and Simmons Bank of Pine Bluff, $89 million (11.17%).
Supported by a staff of 125, the bank generated a profit of $1 million through the first six months of 2024.
Net income last year totaled more than $3.7 million.
Westward Armor
A new name is joining the herd of bankers doing business along west Little Rock’s Chenal Parkway corridor.
Forrest City’s Armor Bank intends to set up shop at 16107 Chenal Parkway in an office formerly leased by Arvest Bank.
The reflagged branch should be open by spring 2025 after some remodeling work, according to Chad May, CEO of Armor. “We would like to enhance the optics of the place,” May said.
The location will be Armor’s second full-service office in the capital city. The $450 million-asset lender entered the Little Rock market in 2018.
New ownership led by the Mark Waldrip family entered the picture in December 2016 and recast Forrest City Bank as Armor Bank in June 2018.
The franchise was expanded in November 2019 with the nearly $8.5 million purchase of Tyronza Bancshares Inc., parent company of the $61 million-asset First Delta Bank of Marked Tree.
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