Forrest City Bank Updates Leadership Team

Nick Sutton and Thomas Gerrard of First National Eastern Bank of Arkansas (Photos provided)

First National Bank of Eastern Arkansas in Forrest City has promoted Nick Sutton from president to CEO and chairman of the board, replacing Brice Fletcher who had served in that role for the past 19 years.

Fletcher has semi-retired from his roles at the bank and will serve as vice-chairman until he fully retires in three years, a bank spokesperson said.

Thomas Gerrard will take over Sutton’s role as president and chief lending officer of the bank after serving as senior vice president.

As of Jan. 2, First National Bank of Eastern Arkansas had total assets of $608 million and total deposits of $532 million, Fletcher told Arkansas Business. The bank has 13 branches in east Arkansas, including seven in St. Francis County, and two in west Tennessee in Shelby County.

First National Bank of Eastern Arkansas is in its 140th year after being formed in 1886 in Forrest City.

Banking Experience

Sutton was promoted from senior vice president to president and chief lending officer of First National in 2022. He joined the bank in 2013 as manager of the bank’s Marion branch and has worked in Forrest City for the past four years.

Sutton graduated from the University of Arkansas with a degree in financial management in 2000. Prior to joining First National, he worked at Magna Bank of Memphis, Suntrust Bank and First Tennessee Bank.

Gerrard has worked in lending since 2005 and joined First National in 2017. Prior to joining the bank, he worked at Fidelity National Bank of West Memphis and Farm Credit Midsouth.

He works out of the bank’s Marion branch.

Fletcher has been with First National Bank of Eastern Arkansas since 1982.

He also formerly served on the board of directors for the Memphis branch of the St. Louis Federal Reserve.

“Rural communities matter to Fletcher,” a video from the Fed stated. “Now a former director of our Memphis Branch board, he enjoyed bringing the perspective of small-town America and agricultural areas.”