A once-dormant bank building in northeast Arkansas is seeing renewed life as a financial headquarters. RiverBank is relocating its main office to downtown Pocahontas in the former home of Pocahontas Federal Savings & Loan.
“We would like to be open early in the fourth quarter,” said Joyce Radcliff, chief operating officer of the $99 million-asset lender.
The 15,000-SF building at 203 W. Broadway will replace RiverBank’s HQ on the south side of town. The 2,160-SF office at 1700 Old County Road, opened in June 2007, will remain in operation as a branch.
Supported by a staff of 16 and a branch in Corning, RiverBank reported net income of $549,000 for the first six months of 2020. That compares with $726,000 during the first half of 2019.
The former thrift is founded on the charter of Corning Savings & Loan, renamed RiverBank in October 2013 and converted to a bank in January 2015.
Looking back at Pocahontas Federal, the S&L morphed into First Community Bank under the Pocahontas Bancorp umbrella and relocated its headquarters to Jonesboro in 2001. First Community/Pocahontas Bancorp sold for $76 million in February 2007 to IberiaBank Corp. of Lafayette, Louisiana.
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