First NaturalState Bank of McGehee is adding a third full-service branch and entering the Dumas market. The move by the $58.2 million-asset lender will expand the competitive field to four banks.
The biggest player in the $150.5 million-deposit Dumas market is the hometown Merchants & Farmers Bank, which holds a dominating 70.9 percent of deposits totaling $106.7 million.
The balance is split between Simmons Bank, 26.1 percent totaling $39.2 million; and Bank of Star City, 3 percent totaling $4.6 million.
First NaturalState, backed by a staff of 18, generated a $358,000 profit last year compared with $186,000 in 2017.
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