JONESBORO, AR (KAIT) - First National Bank announced this week it has agreed to purchase Little Rock-based Onebanc.
The addition expands the Paragould-based bank's footprint into Central Arkansas and increases the number of bank locations to 20.
"It's a great fit for our organization and we look forward to welcoming the Onebanc team into our family," said Donald Guinn, First National Bank CEO.
Onebanc was founded in 1957 and currently operates six locations in the Little Rock and North Little Rock markets, according to a news release. First National Bank was founded in 1889.
"Both banks are proud of their long tenure in Arkansas, First National Bank spanning 129 years and Onebanc 61 years," said Jerry Pavlas, Onebanc president and CEO. "Our wonderful team at Onebanc will continue to serve our customers with the same great service they've known, now as part of the First National Bank family."
Further details about the acquisition will be released in the coming weeks. The transition should be completed by the fall of 2018.