“We have grown by leaps and bounds,” said Chuck Morgan, Relyance Bank chairman and CEO. The financial institution is now 200 employees and $1 billion strong.
It started as Pine Bluff National Bank on Cherry Street in 1965.
M o r – gan was fresh out of college when the stock market plummeted in 1987 and again two years later.
As a result, he learned valuable lessons as a young banker at Simmons Bank and was prepared for the ups and downs of the banking world when he took a job at Pine Bluff National Bank.
Now with two decades of experience, Morgan is cautious and thoughtful when moving forward.
Independent reporting for Pine Bluff & Jefferson County since 1879.
Even after the economy recovered after the recession of 2008, Relyance Bank management played it safe with debts and assets, he remembered.
By 2010, he said, “It was time to grow.”
It first changed its name to Relyance Bank to reflect a more modern feel and appeal to other markets, plus most any bank-related or sounding name had already been taken.
Then the bank started implementing its plan to move into the Hot Springs area
“It’s an area that’s experienced a lot of growth,” in part because of a growing number of recreational attractions and permanent and vacation homes, Morgan said.
The bank also moved into Central Arkansas opening branches in Little Rock, Sheridan and Bryant. It also has branches in Fordyce, Redfield, Star City and White Hall.
When asked about expanding its operation into Northwest Arkansas or other areas of the state, Morgan said, “We will, if the opportunity presents itself.”