First Bank Corp. Merges with First State Bank

A New Chapter in Arkansas Banking

Once upon a time in the heart of Arkansas, two banks decided to team up. First Bank Corp., which includes the First National Bank of Fort Smith, is merging with Russellville’s own First State Bank. Now, don’t get it twisted—although they’re calling it a merger, it’s really First Bank Corp. holding the reins. No logos or signs are changing at First State Bank; it’s business as usual.

The Inside Scoop

Sam T. Sicard, the CEO of First Bank Corp., shared some insights. Regulatory approval is awaited, hopefully by March’s end. Sicard and First State Bank CEO Chip Blanchard? They go way back. Blanchard initiated the conversation, eager to bolster First State’s competitive spirit.

“I think very highly of him (Chip),” Sicard mentioned. First State Bank is praised as a well-run, profitable institution under Blanchard’s leadership.

Boosting Capabilities

There’s more capital now, so get ready for larger loan deals and growth opportunities. First State Bank lacked a trust and wealth management division, but that’s changing. They can now offer these services through First Bank Corp.

Blanchard’s Perspective

Blanchard expressed excitement about the merger, saying it’s about maintaining community-focused banking while enhancing growth through technology. He’s thrilled to join First Bank Corp’s Board of Directors.

Leadership and Board Dynamics

With this merger, Blanchard and First National’s Mike Echols are joining First State’s board, making it a powerful lineup.

Financial Strength

Let’s talk numbers. By 2025, First National Bank of Fort Smith flaunted assets of $2.274 billion, nearly quadruple First State’s $613.664 million. Operating income for First National hit $46.92 million, a 16.2% jump from 2024.

• First National Bank

  • 2025 Assets: $2.274 billion
  • 2025 Income: $46.92 million

• First State Bank

  • 2025 Assets: $613.664 million
  • 2025 Income: $7.844 million

Looking Ahead

First Bank Corp. is rooted in history, established in 1872. First State Bank, founded in 1934 in Plainview, moved to Russellville in ’99. This merger is a nod to the future, balancing historic values with modern growth.

With this handshake across Arkansas, both banks are primed to tackle more significant endeavors. They’re strengthening community ties and planning for expansive growth. So buckle up; there’s a new banking era on the horizon.