ANB Financial Purchases Two United Bank Morgage Offices

Northwest Arkansas Business Journal, July, 2006 by Sparkman, Worth

Bentonville-chartered ANB Financial N.A. purchased two mortgage processing offices from Springdale thrift United Bank in late June.

What's the catch for the two Northwest Arkansas banks?

The loan operations are in Little Rock and Conway.

The deal closed on June 16, just seven business days after officials from both banks began talks. Financial terms of the transaction were not disclosed, but Dan Dykema, chairman and CEO of ANB, said the two offices in central Arkansas process about $15 million a month in residential and wholesale residential loans nationwide.

ANB closes about $50 million a month in loans, Dykema said, so the operation could add 20 percent or so to the 12-year-old bank's mortgage business.

Jim Bell heads up the two offices and is a...