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Lenders From Batesville, Danville Chart Course for Conway

2 min read

Two new competitors are entering the Conway lending market, where 13 banks already fly their banners.

Batesville’s First Community Bank intends to set up shop downtown at 1089 Front St. in a storefront previously leased to Central Arkansas Baton Twirling Studio.

The Faulkner County move will mark a continued expansion of the $1.5 billion-asset lender in central Arkansas and expand its statewide footprint to 10 counties.

Danville’s Chambers Bank plans to reopen a 4,350-SF former River Town Bank branch at 1950 Oak St. The move will give the $856 million-asset lender two Conway locations in the wake of its $17 million acquisition of River Town.

The $135 million-asset lender operated a branch in west Conway at 490 Hogan Lane when Chambers Bank came calling. The location banked $4.4 million in deposits, a 0.24% share of Faulkner County’s $2.2 billion-deposit market.

Six banks have a 5% or greater stake in the market, led by Conway’s Centennial Bank, with 11 locations supporting $780 million in deposits representing 42.59% of the market.

That dominant position is followed by Searcy’s First Security Bank with five branches, home to $400 million in deposits, 21.87%; Fayetteville’s Arvest Bank with three branches and deposits of $141 million, 7.71%; Regions Bank of Birmingham, Alabama, three branches and deposits of nearly $124 million, 6.76%; Pine Bluff’s Simmons Bank with four branches and deposits of $123 million, 6.72%; and Bank of America with one office and $103 million in deposits, 5.65%.

(Ranked by Deposits)

  Locations Deposits* Market Share
Centennial Bank 11 $780,218 42.59%
First Security Bank 5 $400,721 21.87%
Arvest Bank 3 $141,186 7.71%
Regions Bank 3 $123,888 6.76%
Simmons Bank 4 $123,076 6.72%
Bank of America, National Association 1 $103,585 5.65%
Bank OZK 4 $82,694 4.51%
U.S. Bank National Association 2 $34,104 1.86%
First Service Bank 2 $32,828 1.79%
River Town Bank 1 $4,443 0.24%
The Malvern National Bank 1 $3,357 0.18%
First Arkansas Bank and Trust 1 $1,235 0.07%
FSNB, National Association 2 $540 0.03%
TOTALS 41 $1,835,390 100%

*In thousands.
Source: FDIC

Pope County Presence

The River Town purchase also provided Chambers with a gateway into the $1.1 billion-asset Pope County market.

River Town operated two branches in Russellville and one each in Dover and Atkins. The four locations were home to $50.8 million in deposits, a 4.45% share of the market. Centennial Bank held the biggest share of Pope County deposits at its five locations: $307 million, 26.9%.

Rounding out the top five are Russellville’s First State Bank with three branches and $216 million in deposits at 18.92%; Arvest Bank with five locations and deposits of $172 million at 15.07%; Simmons Bank with three offices and $149 million in deposits at 13.08%; and Regions Bank with four branches and $133 million in deposits at 11.68%.

With the addition of Pope and Faulkner counties through River Town, the statewide footprint of Chambers has grown to a dozen counties.

(Ranked by Deposits)

  Locations Deposits* Market Share
Centennial Bank 5 $307,416 26.90%
First State Bank 3 $216,233 18.92%
Arvest Bank 5 $172,214 15.07%
Simmons Bank 3 $149,486 13.08%
Regions Bank 4 $133,487 11.68%
Bank OZK 3 $58,317 5.10%
River Town Bank 4 $50,881 4.45%
Diamond Bank 2 $40,538 3.55%
First Security Bank 1 $13,722 1.20%
FSNB, National Association 1 $670 0.06%
TOTALS 31 $1,142,964 100%

*In thousands.
Source: FDIC

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