Relyance Bank, based at Pine Bluff, announced the construction of a new headquarters on U.S. 270, just west of Interstate 530.
The 37,000 square foot facility will house management and consolidate various departments. The new facility will provide increased functionality, efficiency and accommodate future growth for Relyance Bank, according to the July 30 news release.
“Pine Bluff National Bank (now known as Relyance Bank), opened its doors in 1965, with its main office located at 912 Cherry Street,” said Chuck Morgan, chairman and chief executive officer of Relyance Bank.
“From this original location, we have increased the size of our facility with multiple building projects over the past 30 years. Our bank has grown to a point in which we are now approaching $1 billion in assets, we now employ 200 associates, plus we have grown in the number of services that we provide. All this is to say, that we have outgrown our present facility,” Morgan said.
The bank recently retained an independent site evaluation team to explore all options for expansion. A thorough site evaluation and selection process was conducted that independently evaluated five different locations for visibility, ease of access, site development opportunities, site development costs, traffic count, marketability and adjacent site development. The conclusions of the evaluation led to the choice of this site, according to the news release.
Independent reporting for Pine Bluff & Jefferson County since 1879.
“Although we will be moving from our present downtown location, we remain fully committed to this community in which we have deep roots,” Morgan said. “We will continue to strongly serve our community. We will continue to support growth initiatives, such as Go Forward Pine Bluff, as well as continue our substantial support for charitable organizations and economic development.
“Relyance Bank now serves markets covering southeast and central Arkansas but remains grounded in Jefferson County. This project reaffirms Relyance Bank’s commitment to Pine Bluff, White Hall and Jefferson County,” according to the release.
The new site is expected to take about a year to finish.
“Construction has not yet begun. We have started architectural and engineering plans. The project should be complete in 22 months,” Morgan said.
Details: www.relybank.com.