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First State Bank of De Queen Expanding Into Glenwood

1 min read

In Pike County, De Queen’s First State Bank is increasing its presence with a second branch. The $240 million-asset lender is developing a location in Glenwood, which will expand its full-service office count to six.

The bank opened its first branch in the market in May 2007 in Murfreesboro. The location has grown to $27.7 million in deposits, a repository for 11.2 percent of the county’s $207 million deposit total.

Diamond Bank of Murfreesboro holds the biggest share of Pike County deposits at 58.1 percent, totaling $143.7 million.

Rounding out the field of bankers in the market are the Bank of Delight, 18.6 percent totaling $45.9 million; and Arvest Bank, 12.1 percent totaling $30 million.

First State generated 2018 net income of $2.6 million as of Sept. 30. In 2017, the bank’s profit totaled $2.7 million.

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