Our roots as a hometown bank were planted in the Delta more than sixty years ago when, on January 23, 1951, Leachville State Bank was chartered by a group of 12 area businessmen.
In 1987, state senator and majority stockholder, chairman and president J. Lee Bearden sold the bank to Nelson Henry and Larry Grisham. Henry, who served as president and CEO, was sadly lost in an airplane accident in 1993, at which time Steve May assumed his position.
The following year, Leachville State Bank purchased the Caraway location of First Bank
of Arkansas and the name changed to Buffalo Island Bank. A full-service branch was opened in Monette in 1996, and in 1998, the bank once again changed its name—this time to Heritage Bank.
With a temporary branch located on Nettleton Avenue in Jonesboro, Heritage welcomed the opportunity to establish business in the Jonesboro market until our new main branch on Brown’s Lane was completed.
Along with the new name and office, Heritage also grew its services by allowing selected individuals to purchase stock in the Heritage Capital Corporation, the parent company of Heritage Bank.
This private placement stock offering raised approximately $7.3 million in new capital to fund our expansion. As a result, Heritage Capital Corporation increased its base to roughly 180 stockholders, with 45.45% of outstanding stock being owned by bank employees.
Growth and development within the company continued over the next 15 years as the Caraway Road Branch was leased in November 1998, and 13 months later the staff occupying the temporary offices on Nettleton Avenue relocated to the main building on Brown’s Lane.
In 2001, the branch in Downtown Jonesboro opened, in 2002 a Manila location was added and in 2007, another branch in Jonesboro opened on Southwest Drive.
In December 2009, Heritage Capital Corporation merged with First National Security Company of Hot Springs through a stock/cash purchase, in 2011 a branch housing our mortgage department opened on Nettleton Avenue and in 2013, our newest branch opened in the Hilltop area on East Johnson Avenue.
Since our beginning in 1951, Heritage Bank has been committed to providing top-notch banking products, customer service and convenience. Whatever your banking needs may be—from checking and savings accounts, CDs and debit/credit cards to IRAs and consumer and business loans—we’re here to take care of you.
Our founders were large supporters of the agricultural industry that was, and still is, an important sector we’re proud to serve. We’re also invested in our small businesses in Northeast Arkansas and enjoy helping entrepreneurs put down solid financial roots as we did so many years ago.
Although the name has changed several times, the culture of growth and customer service has remained the same within the Heritage Bank family. We believe business is built on personal relationships, and as members of the Northeast Arkansas community for more than half a century, we’re proud to continue serving our neighbors and friends.