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First Financial Expands Its Capital

1 min read

El Dorado’s First Financial Banc Corp. recently launched a $25 million capital raise.

The figure represents an 18.5% boost to First Financial’s current equity capital of $134.6 million.

The holding company’s $1 billion-asset First Financial Bank joined the billion-asset club of lenders during the third quarter of last year.

First Financial recorded net income of $25 million last year and started 2019 off with a $5.6 million profit during the first quarter.

Supported by a staff of 308, First Financial operates six full-service offices in Union County along with solo locations in Little Rock and Mena and in Senatobia and Carthage, Mississippi.

In Arkansas, the bank operates mortgage lending offices in Conway, Jonesboro, Fayetteville, Fort Smith and Heber Springs.

Adding to the headcount are poultry loan offices in Morrilton and in Enterprise and Fort Payne, Alabama; Gainesville, Georgia; Laurel, Delaware; Monroe, North Carolina; and Nacogdoches, Texas.

Rounding out First Financial’s niche lending network are locations devoted to farms and ranches in Louisville, Kentucky; and Wilmington, North Carolina; veterinarians in Gardnerville, Nevada, and The Woodlands, Texas; and pharmacies in Corona, California.

Founded as First Federal Savings & Loan Association in 1934, the former thrift converted its charter to a commercial bank 20 years ago.

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