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First National Bank of North Arkansas has announced it will be transitioning from a national charter to a state charter, pending regulatory approval from the Arkansas State Bank Department, and changing its name to Bank of 1889.
“The decision was not an easy one as the bank has had a national charter for over 100 years but we believe this change will benefit our customers and our service to you,” FNBNA chief executive officer Bill Hudspeth said in a news release. “Our new name Bank of 1889 represents the fact that we have been a locally owned institution since 1889 and we plan to continue to provide the same level of superior customer service and great products that have made us successful for over 130 years. The bank has weathered many national crises occurring within its lifetime, without loss or major inconvenience to its customers.”
Hudspeth went on to add: “Ownership, management, and staff of the bank will not change and customers will not be affected. They will be able to continue using their existing checks, debit cards and other branded forms until they receive the new rebranded items. You will also see new signage go up over the course of the next several weeks.”
The bank has 10 branches in six counties in North Arkansas and the employees own 45 percent of the bank through an employee stock ownership plan.
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