A Jackson County bank is moving to increase its presence in the neighboring $815 million-deposit Independence County market.
Merchants & Planters Bank of Newport is seeking regulatory approval to open its third office in Batesville.
The $242 million-asset lender opened its first full-service branch in the market in January 1998.
The Independence County market is home to a half-dozen lenders, including two headquartered in Batesville: First Community Bank and Citizens Bank.
Merchants & Planters, which remained profitable through the 2008 financial meltdown, recorded annual net income of between $1.5 million and $1.6 million during 2010-15.
In addition to Batesville and its two Newport locations, the bank operates six other offices in as many communities: Swifton and Tuckerman (Jackson County); McCrory (Woodruff County), Newark (Independence County) and Des Arc (Prairie County).