Rogers, AR (October 1, 2021) – Generations Bank announced today that it has entered into an agreement with Arvest Bank to acquire one branch office located at 12661 MO-13, Kimberling City, Missouri, pending regulatory approval. The transaction is anticipated to close in the first quarter of 2022.
Generations Bank assets as of the end of August 2021 were $670 million. The acquisition will increase Generations Bank assets to $740 million and bring its number of banking locations to eleven.
"The addition of this location allows our bank to expand its presence into Missouri and aligns with our bank's strategic initiative and community banking focus. We welcome these new customers and team members into the Generations Bank community," said Jon Harrell, CEO and Chairman of the Board of Directors. "Moving into the Kimberling City community complements our current footprint and will strengthen our ability to serve our communities and customers by providing financial solutions that can make a lasting impact. We are committed to providing the personal, customized financial solutions for which Generations Bank is known to the residents of Kimberling City and the surrounding communities."
Customers of both banks should continue to conduct banking as usual at their respective branches until the transaction closes and Generations Bank integrates the Kimberling City branch into its banking systems. Customers of the Arvest branch can expect to receive notifications from Generations Bank in advance of the closing with information regarding the conversion of their accounts.
About Generations Bank: Established in 1907, Generations Bank is a full-service community bank that provides various banking products to serve the needs of individuals and businesses alike. The bank's name pays homage to the rich history present through the generations of customers they have served and in the generational leadership from the Harrell family. Generations Bank currently has 10 locations serving the communities of Bentonville, Camden, Fayetteville, Hampton, Junction City, Rogers, Siloam Springs, and Van Buren.