Did you know a proposed merger of Pinnacle Bank of Rogers and Central Bank of Little Rock is in the works?
Neither Central’s president and CEO, Wade Ruckle, nor Pinnacle’s president, David Bordovsky, could be reached for comment.
Here’s what we know:
Central Bank had $115.3 million in assets and $17.65 million in equity capital as of June 30. Founded on the dormant 1912 charter of Bank of Blevins, the venture was moved to Little Rock and renamed in 2007. It has two offices in Little Rock.
Pinnacle Bank was founded on the dormant charter of Bank of Pocahontas in 2004 when it was moved to northwest Arkansas and renamed. The lender had $89.5 million in assets and $10.4 million in equity capital at midyear. Its only office is at 4201 W. New Hope Road in Rogers.
Both banks are profitable. Central cleared $887,000 in 2015 and reported net income of $454,000 for the first half of 2016. Pinnacle earned $240,000 last year and $54,000 through June 30 this year.