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Bank OZK Sets Sights on Jonesboro

2 min read

Little Rock’s Bank OZK is adding Jonesboro to its Arkansas roster of 74 full-service locations.

The move will expand the bank’s in-state footprint to 24 counties in 39 communities.

The $32.8 billion-asset lender is working on a full-service branch at 2303 Red Wolf Blvd. expected to open in the first quarter. The 2,500-SF location formerly housed The Refinery, a women’s clothing store.

Bank OZK hired Matt Lawless as market president for the new office. Lawless comes from Wynne’s Cross Bank, where he was Jonesboro community bank president for nearly two years and also served as interim chief financial officer for two months.

Jonesboro’s $4 billion-deposit market hosts a competitive field of 22 banks.

Jonesboro Banking Market

Bank

Offices

Deposits*

Share

Centennial Bank, Conway

6

$755,256

18.62%

Bank of America, Charlotte, North Carolina

1

$591,182

14.58%

First Community Bank, Batesville

3

$371,832

9.17%

First National Bank, Paragould

3

$371,068

9.15%

Simmons Bank, Pine Bluff

5

$364,699

8.99%

First Horizon Bank, Memphis

2

$299,256

7.38%

Regions Bank, Birmingham, Alabama

2

$232,628

5.74%

Arvest Bank, Fayetteville

2

$160,629

3.96%

Cadence Bank, Tupelo, Mississippi

2

$152,849

3.77%

First Security Bank, Searcy

3

$149,511

3.69%

Encore Bank, Little Rock

1

$134,476

3.32%

Focus Bank, Charleston, Missouri

3

$131,725

3.25%

Southern Bank, Poplar Bluff, Missouri

2

$103,398

2.55%

Farmers & Merchants Bank, Stuttgart

2

$77,914

1.92%

Armor Bank, Forrest City

1

$40,039

0.99%

Unico Bank, Mineral Point, Missouri

2

$31,649

0.78%

FNBC Bank, Ash Flat

1

$27,058

0.67%

Signature Bank of Arkansas, Fayetteville

1

$24,336

0.60%

Evolve Bank & Trust, West Memphis

1

$16,036

0.40%

Cross Bank, Wynne

1

$11,549

0.28%

Southern Bancorp Bank, Arkadelphia

1

$7,973

0.20%

First National Bank Texas, Killeen

1

$985

0.02%

*In thousands. All numbers as of June 30. Source: Federal Deposit Insurance Corp.

Sunshine State

Elsewhere, Bank OZK intends to open its first full-service office in Florida’s $34.2 billion-deposit market in Orlando. The bank wants to set up shop near the southeast corner of West Princeton Street at Don Mealey Way.

Bank OZK bought the 0.78-acre location for $900,000 in July. The bank has operated a loan production office in Orlando since 2018. The only other Arkansas-based lender in Orlando is Conway’s Centennial Bank, which operates a branch with deposits of $5.5 million. Centennial opened the location in October 2019, according to the Federal Deposit Insurance Corp.

Fayetteville Facility

Batesville’s First Community Bank invested nearly $1.7 million to buy its first Fayetteville location at 3150 W. Wedington Drive.

The $2.6 billion-asset lender will remodel the former Bank of Fayetteville branch, a project that will include removing its cupola, painting the roof and redoing the drive-through.

The revamped 3,747-SF office is expected to open in the first quarter. The addition of Washington County will expand First Community’s Arkansas network of branches to 14 counties.

The bank entered northwest Arkansas in October 2022 with a Rogers branch.

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