Augusta’s RiverWind Bank is wading deeper into the White County market with a third office in a new city in 2022.
The $128 million-asset lender has a deal in the works to buy a 2,558-SF branch at 901 N. ASU Blvd. in Beebe from Simmons Bank of Pine Bluff. The Simmons branch holds $6.1 million in deposits, 2.65% of the $232 million-deposit market.
The balance of the Beebe market is divided among Searcy’s First Security Bank with $160.8 million (69.29%) in three locations and Conway’s Centennial Bank with $65.1 million (28.06%) in two offices.
RiverWind entered the neighboring White County market in 2012 with a branch in Searcy and followed that up with a second three years later.
Founded as Bank of Augusta in 1935, the bank was rebranded as RiverWind in 2015.
The bank expanded into Searcy by moving into branches formerly occupied by other lenders: Liberty Bank of Arkansas at 1701 W. Beebe Capps Expressway and Centennial Bank at 411 Hartsfield Drive.
RiverWind acquired the former Liberty branch for $1.1 million in 2019.
RiverWind Bank, Augusta
Total Assets: $128.7 million
Net Income: $552,000
Staff: 25
Three Full-Service Locations: Searcy, 2; and Augusta
(As of Sept. 30)
|
|
Total Assets |
Net Income |
Dividends |
Efficiency Ratio |
2020 |
$130,907 |
$481 |
$80 |
75.20% |
2019 |
$104,894 |
$723 |
$80 |
73.28% |
2018 |
$103,920 |
$750 |
$20 |
74.30% |
2017 |
$100,255 |
$522 |
$128 |
70.85% |
2016 |
$92,831 |
$626 |
$120 |
74.50% |
2015 |
$90,717 |
$642 |
$136 |
70.68% |
2014 |
$79,029 |
$838 |
$160 |
68.04% |
2013 |
$78,633 |
$600 |
$120 |
75.97% |
2012 |
$73,660 |
$517 |
$200 |
74.72% |
2011 |
$62,368 |
$665 |
$300 |
64.10% |
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