First Community Bank, Bank OZK Expand Footprints

First Community Bank on E Ridge Ave. in Harrison (Google Maps)

Batesville’s First Community Bank is digging deeper into the Harrison market with a second full-service location. The $3 billion-asset lender is developing the new office at 1204 U.S. 65.

The bank purchased the 1.16-acre site for $750,000 in June 2018 from the Dan Richesin estate. The construction contract is out to bid, and the facility could be completed and open by fall.

“We hope so,” said Dale Cole, chairman and CEO of First Community.

First Community entered the $1.1 billion-deposit Harrison market five years ago. Since then, the bank has grown its local deposit base to more than $57 million, a 5.04% share.

The two largest slices of Harrison deposits are held by Anstaff Bank of Green Forest, $343 million (30.24%); and Arvest Bank of Fayetteville, $233 million (20.50%).

The new Harrison project represents full-service branch No. 34 for First Community. Supported by a staff of 543, the bank recorded a profit of $28.5 million during 2024.

Harrison Bank Market

(Source: Federal Deposit Insurance Corp.)

More OZK Branches

Little Rock’s Bank OZK is expanding its footprint in Tennessee’s Nashville metro area and Jacksonville, Florida.

The projects in Murfreesboro and Brentwood will triple the number of full-service branches for the $38.3 billion-asset lender in the Volunteer State. The bank’s only Tennessee office is in the Nashville suburb of Madison.

In Murfreesboro, Bank OZK bought a 3,321-SF former Regions Bank branch at 424 N. Thompson Lane in August for $2.5 million.

No Arkansas lenders number among the 23 banks currently on the ground in the $5.8 billion-deposit market. The biggest stakeholder in Murfreesboro deposits is Nashville’s Pinnacle Bank, $1.8 billion (31.29%).

In Brentwood, Bank OZK will set up shop in a new facility at 152 Wilson Pike Circle. The $5.4 billion-deposit market hosts 22 banks.

That roster includes Pine Bluff’s Simmons Bank, which operates two branches in the market, housing deposits of $53 million (0.98%).

The lender with the most deposits in Brentwood  is Pinnacle Bank, $1 billion (18.61%).

Down in the $89 billion-deposit market of Duval County Florida, Bank OZK operates two full-service locations in Jacksonville and one in Jacksonville Beach. The trio is home to total deposits of $248 million (0.28%).

The largest bank headquartered in Arkansas is developing its new Jacksonville office at 9610 Hutchinson Park Drive, a 3,890-SF former BB&T/Truist branch acquired for $2.3 million in August.

At the top of local deposit market shares is Bank of America in Charlotte, North Carolina, $47.6 billion (54.43%).

Banking columns last year noted new Bank OZK branch projects in Boca Raton and Winter Park. Counting these plus Jacksonville, the Florida census of its full-service branches is moving toward 45.