White River Bancshares to purchase Brinkley Bank
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Updated: April 17, 2007
Signature Bank was founded in 2005 using the leftover charter of First Bank of South Arkansas at Camden and a state record of 45 million dollars in initial capital. It had nearly 330 million dollars in assets as of September 30, but had not previously branched outside northwest Arkansas, where it has six offices in Benton and Washington counties.
The 103-year-old Bank of Brinkley, which has two branches in Brinkley, had nearly 140 million dollars in assets as of September 30.
Albert Rusher, who serves as chairman, and Gus Rusher, who is president, are expected to remain involved in the combined banking operation. The deal is expected to close within three to four months.
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