Springdale-based Legacy National Bank has plans to merge with its subsidiary, Bank of Gravette, effective Saturday.
Since acquiring the bank years ago, Legacy has operated Bank of Gravette as a separate entity.
"We believe it is now time to merge the two banks together in order to deliver the highest quality of service possible at both banks," Legacy President and Chief Executive Officer Patrick Swope said in an email Wednesday. "Our customers may feel some changes at first, but we are confident they will result in a better banking experience."
The Bank of Gravett, known as the oldest bank in Benton County, was founded in 1898 and had a different name from the town it served. The bank kept its quirky misspelling for decades until Legacy bought it and added an "e" to fix the name in 2019.
There are plans to rebrand its Hiwasse and Centerton locations into Legacy branches. Swope said the Gravette location will continue as "Bank of Gravette, a division of Legacy National Bank" to honor the community's long history.