Modern banking began in Batesville in 1889 when the Bank of Batesville was chartered and opened on Main Street across from the courthouse. J. S. Hanford served as the bank’s first president. The Bank of Batesville began with $25,000 in capital and the following were the bank’s officers: J. S. Hanford, President; D. C. Ewing, Vice-President; H. H. Hinkle, Cashier and John Q. Wolf, Assistant Cashier. Because of his extensive banking career in Batesville, John Q. Wolf became known in Batesville as the “Father of Banking”. In 1891 the bank moved into a new three story bank building that was constructed at the corner of Main and Central. This building was a Batesville landmark until 1974, when it was removed and the Batesville Insurance and Abstract Company building was constructed.

The claim that the Bank of Batesville was the beginning of modern banking in the town has been challenged, and advertisements of banking services have been found in Batesville newspapers of an earlier day. In 1881, Simon Adler opened a banking and brokerage business under the title of “Simon Adler, Banker.” Mr. Adler conducted this business until 1891, when he and others organized The Peoples' Savings Bank with $50,000 in capital. Mr. Adler became the first President of the bank and remained in this position until his death in 1904. In 1905 the bank became The First National Bank of Batesville which was Independence County’s first National Bank.

The Independence County Bank and Trust Company, Batesville’s third bank, opened in 1904 with T. B. Padgett as president. This bank closed by voluntary liquidation in 1907. In 1906 the Theodore Maxfield Bank and Trust Company was formed. Later that year the bank received a national charter and became the Maxfield National Bank. In 1908 the Maxfield National Bank became the National Bank of Batesville with I. N. Barnett listed as president.

The Citizens Bank and Trust Company was charted in 1910 with W. J. Erwin, President; Paxton Thomas, Cashier, and C. F. Rosenthal, W. F. Ball, I. N. Barnett, John Q. Wolf, R. C. Dorr, R. A. Dowdy and Charles F. Cole, Directors. H. M. Kennerly, one of the original Citizen Bank and Trust Company stockholders and a bank official in Batesville until his retirement in 1962, became known as the €Dean of Batesville Bankers.” Still another bank was formed in 1911, the Union Bank and Trust Company.

In July of 1912 the National Bank of Batesville consolidated with the First National Bank under the First National name. The First National Bank occupied the former Bank of Batesville building at the corner of Main Street and Central Avenue. From 1912 until 1927 three banks, the Union Bank and Trust Company, the First National Bank and the Citizens Bank and Trust Company provided banking services in Batesville. In 1927 the Union Bank and Trust Company was purchased by A.B. Banks, a banker from Fordyce, Arkansas who formed the North Arkansas Bank in Batesville.

Batesville still had three banks, the First National Bank, the Citizens Bank and Trust Company and the North Arkansas Bank. The next significant development in banking occurred in 1930, during the depression, when the First National Bank and the North Arkansas Bank consolidated. Less than five months later, on November 17, 1930 the North Arkansas Bank failed to open its doors. The Batesville Guard reported the bank in Batesville and fifty-one others in the A. B. Banks chain closed at the same time. Collapse of the bank created a great financial hardship on the community since almost $900,000 was on deposit. At the same time, the Citizens Bank and Trust Company issued a financial statement showing resources of $920,137 and deposits of $820,068. The board of Citizens Bank and Trust Company, at the suggestion of one of their members, Charles Barnett, opened their doors on this date from 8:00 a.m. until 5:00 p.m. to show the public they were sound. The statement issued by the board of directors stated “This bank is home owned, home managed, and has no connection directly or indirectly with any other bank, chain or group of banks.”

The Citizens Bank and Trust Company, which had served the people as the town’s only bank since the collapse of the North Arkansas Bank in 1930, received a national charter in 1944 and was renamed the First National Bank. A new bank , The Citizens Bank, was chartered in 1953 and opened on the north side of Main and Third Street. In 1965 The Citizens Bank constructed a building at the corner of Third and College Avenue. In 1957 the First National Bank modernized its quarters in the building at Third and Main Streets and in 1968 moved into an entirely new building on Broad Street between College Avenue and Boswell. Three new banks came to Batesville in the 90’s, The Arkansas Bank in 1996 which was purchased by Regions Bank in 1999 and Merchants and Planters Bank opened a branch in Batesville in 1997.

During the 1980’s and 90’s bank acquisitions and mergers were happening with increasing frequency and Batesville was no exception. In 1984 First National Bank was purchased by Worthen Bank, which was purchased by Boatmans Bank in 1994 which was purchased by Nations Bank in 1996, who in turn was purchased by Bank of America in 1997.

Dale Cole came to Batesville with Worthen Banking Corporation as Chairman, President and CEO of First National Bank in 1988. After the Boatmans acquisition of Worthen, Mr. Cole left the bank and was approached by a group of local investors about starting a new community bank in Batesville. In August of 1997, First Community Bank opened its doors with $3.5 million in capital and fourteen employees. Although First Community Bank is not descended by charter from the old Citizens Bank and Trust Company of Batesville which later became First National Bank, the original fourteen employees of First Community Bank were all from First National Bank, where some of them had worked together for almost 40 years in the banking business serving the financial needs of the area. First Community Bank like its predecessor, Citizens Bank and Trust Company, is Home Owned, Home Managed and has no connection directly or indirectly with any other bank, chain or group of banks.

Invaluable assistance was provided by The Independence County Historical Society, Wilson Powell, Clyde McGinnis Jim Barnett and G. G. Rutherford in researching this data.

During the 1980’s and 1990’s many small community banks were purchased by large banking systems that were in turn purchased by even larger banking systems. As this trend continued, many communities lost their local banks. Too often communities found they no longer received the same level of services from the larger banks after they were purchased. In response to this developing trend, eight local independent community banks were started in Arkansas in the mid to late 90’s. First Community Bank in Batesville was one of these eight. Dale Cole, current Chairman and CEO of First Community Bank, came to Batesville with Worthen Banking Corp. as Chairman, President and CEO of First National Bank in 1988. Boatmans Bank purchased Worthen Bank and was in turn purchased by Nations Bank, and at this time Mr. Cole left the bank and was approached by a group of local investors about starting a community bank in Batesville.

The vision of 153 local investors came together on August 4, 1997 when First Community Bank opened for business with 14 employees and $3.5 million in capital. The original 14 employees all came from the old First National Bank that at this time was Nations Bank. The First National Bank descended from the Citizens Bank and Trust Company that was charted in 1910. After several mergers and acquisitions in 1944, it changed its name to the First National Bank of Batesville. First National Bank served the community of Batesville until it was purchased by Worthen in 1984.

When the bank opened its doors, furniture had not yet arrived and for the first few weeks, employees served their customers from folding tables and chairs. By December of 1997, the faith of the investors and employees was rewarded when the bank reached assets of $29.2 million and was still growing fast. The bank continued to grow during 1998 and purchased land in Southside for a new office to better serve customers in the Southside area. Construction on the 2000 square foot Southside office began in 1998 and a grand opening was held on June 18, 1999.

During this same time, the bank purchased land in Searcy for a future site and in March of 1999, opened a Loan Processing Office while waiting for branch approval. After receiving approval, First Community Bank opened its first full service Searcy banking office located at 2307 W. Beebe-Capps Expressway on June 29, 1999, in the Charlestowne Shopping Center with five employees. Between Batesville and Searcy offices, First Community Bank had now grown to more than $80 million in assests. And by December of 1999, First Community Bank had grown to over $100 million in assets and ended the year 2000 with almost $150 million in assets.

Because of the rapid continued growth, a decision was made to build a larger facility in Searcy. Groundbreaking took place in May 2001 for the new two-story 14,000 square foot state of the art facility located at 2401 West Beebe-Capps Expressway, and the facility celebrated its grand opening on May 2, 2002.

Also, in May 2002, First Community Bank opened a banking office at 2801 East Race to better serve our customers in east Searcy. During this same time First Community Bank was expanding in Batesville. Groundbreaking took place on May 14, 2002 for a new 43,000 square foot main bank building located on the corner of St. Louis and Harrison streets.

Because of continued growth in Batesville, First Community Bank made plans for another branch located at 3 Eagle Mountain Boulevard. Groundbreaking took place in Spring of 2002 for a new 2000 square foot facility, which opened on October 8, 2002.

Groundbreaking for our new 43,000 square foot main bank building, "The Cornerstone of Our Community" located at the corner of St. Louis and Harrison took place on May 14, 2002 and we opened our new main bank on September 2, 2003. From our original 14 employees and $3.5 million in capital, we have grown to over $280 million in assets and over 85 employees in just six short years. This is attributed to our customers and our community support. We are excited to be in your new bank building “The Cornerstone of Our Community” and truly believe we are building a bridge to the future for our customers, our community, our shareholders and our employees.

On July 19, 2004 First Community Bank opened a branch in Cave City to better serve our customers in Sharp County. Construction soon began on the new 2100 square foot building located at 102 S. Main Street. The Grand Opening was held on July 25, 2005.

Because of the continued growth in White County, First Community Bank opened a branch located at 157 Hwy 67 in Bald Knob on January 6, 2006. Work is presently being done on their 2500 square foot, state of the art facility that will be opening soon.

First Community Bank now has three banks in Searcy with the latest addition of their Hwy 16 Branch. It is located at the corner of Hwy 16 and N. Maple Street.