Batesville’s First Community Bank hopes to open its first full-service location in Harrison before year’s end.
The $1.5 billion-asset lender is remodeling a 4,965-SF building at 220 E. Ridge Ave. while operating a loan production office next door.
First Community will increase Harrison’s competitive field of banks to nine. The branch-under-development is a former mortgage office of Harrison’s Community First Bank, which was acquired for $77 million in 2016 by Equity Bank of Andover, Kansas.
Equity holds the largest stake in Harrison’s $810 million-deposit market at 28.39%, $230 million. That position is followed closely by Arvest Bank at 25.84%, $209 million; and Green Forest’s Anstaff Bank at 23.83%, $193 million.
The balance of the Harrison deposit market is divided among Mountain View’s Stone Bank at 6.23%, $50 million; Bank OZK at 4.59%, $37 million; Regions Bank of Birmingham, Alabama at 4.49%, $36 million; Cornerstone Bank of Eureka Springs at 3.88%, $31 million; and Berryville’s First National Bank of North Arkansas at 2.75%, $22 million.
The Boone County move by First Community will boost its statewide footprint to 11 counties to go with two southern Missouri counties. Equity Bank, Andover, Kansas $230,101 28.39% Arvest Bank, Fayetteville $209,419 25.84% Anstaff Bank, Green Forest $193,119 23.83% Stone Bank, Mountain View $50,531 6.23% Bank OZK, Little Rock $37,199 4.59% Regions Bank, Birmingham, Alabama $36,351 4.49% Cornerstone Bank, Eureka Springs $31,471 3.88% First National Bank of North Arkansas, Berryville $22,260 2.75% TOTAL $810,451 *In thousands as of June 30, 2019.
Source: FDIC
