2 West Arkansas Banks Merge to Create $3.67B Lender

(First National Bank of Fort Smith)

First Bank Corp. of Fort Smith and First State Bank Corp. of Russellville announced that the companies have merged, creating a lender with more $3.67 billion in assets.

First Bank Corp. is the holding company for First National Bank of Fort Smith, which ranks No. 10 on Arkansas Business‘ most recent list of the state’s largest banks with $2.47 billion in assets. The holding company also owns four smaller community lenders. First State Bank ranks No. 32 on the list with $595.5 million in assets.

Financial terms of the transaction were not disclosed.

Chip Blanchard, who succeeded his father as CEO of First State Bank in 2023, will join the combined company’s board of directors.

Under the First Bank Corp. umbrella, First State Bank will continue operating as a community-focused bank, the lenders said in a news release. The banks said they expand the deal to brings additional resources to support growth, innovation, and long-term stability.

First Bank Corp. has 28 branches in Arkansas and Oklahoma. First State Bank operates five locations.

“First State Bank has built an outstanding reputation by putting customers and communities first,” Sam Sicard, CEO of First Bank Corp., said in the release. “This partnership allows us to grow our holding company alongside a strong community bank that shares our values. We are excited to support First State Bank’s continued success while preserving the local focus and personal service their customers know and trust.”