Arlo Bank targets $500M asset goal

Last edited 1:49 p.m., June 18, 2025 [Editor's note: Deposit figures have been corrected.]

Arlo Bank President and CEO Mark Bybee says the company, which formed last year, is targeting expansive growth as it builds its foundation.

Bybee discussed the bank's goals during Springfield Business Journal's 12 People You Need to Know live interview series with Executive Editor Christine Temple. The event yesterday was held at The Backlot, Alamo Drafthouse Springfield's restaurant and bar.

Arlo Bank, which has over $155 million in assets, $108 million in loans and around $93 million in core deposits, with overall deposits at about $118 million, has an asset goal of $500 million, said Bybee.

"I would say we're talking four-ish years, probably, somewhere in that range," Bybee said of the timeline to meet that goal. "It's kind of crazy how quickly you get to be known in the community just by doing deals. We've done four or five deals just getting started."

Arlo Bank is first focusing on commercial loans, Bybee said, with the potential to add residential down the road. The company is targeting an August completion date of construction for its south-side branch at the former Los Cabos Mexican Grill & Cantina at 4109 S. National Ave., just south of James River Freeway, said Bybee, who said a grand opening would likely be in December.

Asked about how Arlo Bank is achieving rapid growth, Bybee said it comes down to relationships.

"It's honestly just our customers, our contacts," he said. "The game plan is to hire good people, take care of them ... and take care of customers."

At the end of the event yesterday, SBJ announced incoming Springfield City Manager David Cameron would be the July 15 guest for the 12 People You Need to Know series.