This bank location in De Queen, shown above in 2016, was absorbed by Arvest after its $391 million acquisition of Bear State Bank in April 2018. It will soon see a new incarnation as a branch of Farmers Bank & Trust of Magnolia.
Arvest Bank of Fayetteville is selling 16 branches from its four-state footprint, opening the door to other banks in nine Arkansas markets. The pending sales by the $26 billion-asset lender also provide interstate entry points for three Arkansas banks.
Ash Flat’s FNBC Bank, with $610 million in assets, made its first interstate move, buying two south-central Mis-souri branches.
FNBC will move into the $946 million-deposit West Plains market, home to seven competitors including Pine Bluff’s Simmons Bank, and the $320 million-deposit Mountain Grove market, home to six other lenders.
Also headed for the Show Me State is Generations Bank of Rogers. The $663 million-asset lender is buying an Arvest branch in Kimberling City, a $238 million-deposit market west of Branson where a trio of competitors do business.
Farmers & Cross County
Meanwhile in the southeastern corner of Oklahoma, Magnolia’s Farmers Bank & Trust is poised to replace Arvest in Broken Bow and Idabel.
Four other lenders operate offices in the $767 million-deposit McCurtain County market.
In Arkansas, Farmers will step into seven new communities, expanding its footprint to Howard, Little River, Logan, Montgomery, Pike and Sevier counties. The move will extend the $1.9 billion-asset lender’s southwestern Arkansas reach into De Queen, Mount Ida, Ashdown, Glenwood, Nashville and Dierks as well as northward into Paris.
Wynne’s Cross County Bank will buy two Arvest branches, enlarging its stake in Craighead and Mississippi counties in northeast Arkansas.
The $310 million-asset lender will gain access to the $85 million-deposit Monette market to compete with Conway’s Centennial Bank and increase its slice of the $70 million-deposit market in Manila.
If Cross County Bank is able to retain Arvest’s customer base in Manila, it could become the largest holder of deposits there.
The branch sale would pare the local competitors to Southern Bancorp Bank of Arkadelphia and Farmers Bank & Trust of Blytheville.
The Arvest branch sales are expected to close before March 31.
Arvest Branch Buyers
Farmers Bank & Trust, Magnolia |
Deposits* |
504 W. Collin Raye Drive, De Queen |
$48,117 |
221 S. George St., Mount Ida |
$43,943 |
960 S. Constitution Ave., Ashdown |
$41,285 |
205 E. Walnut St., Paris |
$31,611 |
409 S. Park Drive, Broken Bow, Oklahoma |
$29,917 |
702 SE Washington St., Idabel, Okla. |
$29,667 |
214 N. First St., Glenwood |
$29,142 |
420 S. Main St., Nashville |
$25,430 |
103 E. Third St., Dierks |
$17,591 |
Total |
$296,703 |
FNBC Bank, Ash Flat |
Deposits* |
1311 Porter Wagoner Blvd., West Plains, Missouri |
$52,034 |
111 N. Maple Ave., Mountain Grove, Mo. |
$21,195 |
Total |
$73,229 |
Generations Bank, Rogers |
Deposits* |
12661 Missouri State Hwy. 13, Kimberling City, Mo. |
$65,730 |
RCB Bank, Claremore, Oklahoma |
Deposits* |
810 E. Illinois Ave., Vinita, Okla. |
$37,450 |
301 W. Fourth Ave., Caney, Kansas |
$23,146 |
Total |
$60,596 |
Cross County Bank, Wynne |
Deposits* |
301 E. Drew St., Monette |
$25,547 |
709 W. Fleeman St., Manila |
$23,381 |
Total |
$48,928 |
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