Chambers Bank Plans Branch Move
Posted: November 5, 2009 at 4:32 a.m.
SPRINGDALE — Chambers Bank will leave its Pinnacle Hills location in Rogers by year end and head up the road to Bentonville. The bank recently filed a branch relocation request with the Arkansas State Bank Department and awaits approval.
The 15-day protest period for competing banks to comment ended Tuesday, said John Ashby, state bank department spokesman.
“The commissioner will likely approve this request by the end of the week,” he said.
Chambers Bank plans to open in its new location at 1100 S.E. Walton Blvd. by Jan. 1, said Mike Donnell, chief fi nancial o◊cer for Danville Bancshares, the bank’s holding company.
Donnell said bank customers were given the mandatory 90-day notice.
The bank’s lease at 2522 S. Champions Drive in Pinnacle Hills has expired, according to Donnell. The branch islocated in the Alltel Building, formerly owned by Bill Schwyhart and sold to Great Southern Bank of Springfi eld, Mo., earlier this year.
Chambers will lease the former Parkway Bank branch vacated in February as part of Parkway’s branch consolidation.
Chambers’ new Bentonville branch is 3,800 square feet and set up as a bank with adequate parking and drive-through facilities, Donnell said.
As of June 30, Chambers Bank in Rogers had $19 million in deposits and has the one branch in Benton County. The bank operates five branches in Washington County with $141.33 million in local deposits, according to the Federal Deposit Insurance Corp.
Chambers Bancshares consolidated its Northwest Arkansas and Danville banking charters in November of last year. The combined banks earned a profit of $7.59 million in the first three quarters of this year, compared with $5 million the previous year.
News, Pages 3 on 11/05/2009
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