First Security Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1932 |
| Founder | Reynie Rutledge (owner since 1977) |
| Headquarters | Searcy , United States |
Area served | Arkansas, Florida |
Key people | Reynie Rutledge (owner) |
| Products | Personal and commercial loans, mortgage financing, checking and savings accounts, certificates of deposit, debit cards, trust administration, safe deposit services, wire transfers, internet and mobile banking, credit cards |
Number of employees | 900+ (2014) |
First Security Bank is a privately owned financial institution based in Searcy, Arkansas. With a network of 78 branches throughout the state, it functions under the umbrella of First Security Bancorp, which ranks as the fifth largest bank holding company in Arkansas. The bank is also the proprietor of the prominent First Security Center located in Downtown Little Rock, within the historic River Market District.
Company history
Established in 1932 under the name Security Bank, it adopted the First Security Bank title in 1966. Its initial premises were at the intersection of Arch Street and Spring Street before relocating in 1971 to 314 N. Spring Street in Searcy.
In 1977, Reynie Rutledge purchased the bank and subsequently founded First Security Bancorp in 1981. The holding company grew over time by acquiring other institutions and launching financial services, eventually becoming Arkansas’ sixth largest bank holding entity.
The year 2004 marked First Security’s entry into Little Rock with a new branch on Cantrell Road and the completion of the First Security Center—a multi-use complex comprising a banking branch, a six-story Marriott Courtyard Hotel, office facilities, and upscale condominiums.
By 2014, First Security was responsible for managing assets exceeding $4 billion and employed over 900 staff members across 72 branches statewide.
Historical highlights
- 1977 - Acquisition of First Security Bank by Reynie Rutledge
- 1979 - Establishment of First Security Mortgage
- 1981 - Formation of bank holding company, First of Searcy, Inc
- 1989 - Purchase of Peoples Bank & Trust located in Mountain Home
- 1991 - Holding company renamed First Security Bancorp; acquisition of Citizens Bank of Beebe
- 1995 - Acquisition of Farmers Bank & Trust Company in Clarksville
- 1997 - Purchase of First Community Bank based in Conway
- 1999 - Introduction of First Security Bank of Northwest Arkansas
- 2000 - Achieved status as financial services holding company; acquisition of Crews & Associates
- 2001 - Collaboration with The Vanadis Group; creation of First Security Leasing
- 2003 - Acquisition of First National Bank located in Springdale
- 2004 - Acquisition of Beardsley Public Finance; inauguration of First Security Center in Little Rock
- 2005 - Launch of First Security Wealth Management and Student Loan Division
- 2009 - Acquisition of Union Bank situated in Benton
Services and locations
First Security provides an extensive array of financial solutions including personal and commercial loans, mortgage financing, checking and savings accounts, certificates of deposit, debit cards, trust administration, safe deposit services, wire transfers, as well as internet and mobile banking platforms. Additionally, it issues locally branded Visa and MasterCard credit cards.
The bank’s branch network spans numerous Arkansas cities such as Beebe, Bentonville, Bryant, Cabot, Conway, Fayetteville, Fort Smith, Hot Springs, Jonesboro, Little Rock, Rogers, Springdale among others. Beyond Arkansas borders, it operates one branch located in Santa Rosa Beach, Florida.