The Board of Directors of Helena Bancshares, Inc. today September 4, 2018, plans to convert their subsidiary bank, Helena National Bank, from a federal charter through the Office of Comptroller of the Currency (“OCC”) to a state charter with the Arkansas State Banking Department (“ASBD”) pending regulatory approval. The application was filed August 31st, and they anticipate approval in late October. Subsequent to the charter conversion the Bank will rebrand to HNB Bank for an interim period. The Bank is required to remove the word “National” from its name when it is no longer an OCC Bank.
There will not be any changes to customers accounts and customers do not need to do anything as a result of this conversion. If customers have questions they should contact their local branch office.
Commenting on the decision to convert to a state charter, Chairman of the Board Joe Tom Cunningham stated, “This will be beneficial for the bank financially and we will be joining many other Arkansas Banks who have made this same decision because of the community bank support and reputation of the Arkansas State Banking Department. We look forward to a good working relationship with them in the future.”
Helena National Bank is a 78 year old full service community bank with five branches, located in Helena, West Helena, Marvell, Wynne and Crittenden (trade named Crittenden National Bank). As of June 30, 2018, the Helena National Bank had $182.8 million in assets.