Arvest Bank buys National Banking Corp.

Little Rock-based Arvest Bank is buying National Banking Corp., according to Arkansas Business.

National Banking Corp. is the holding company for National Bank of Arkansas, which listed total assets of $186.1 million as of June 30. The bank posted a loss of $44,000 through the first six months of the current fiscal year after profits of $8,000 during the previous year.

The sale will close in November, pending regulatory approval. The purchase price is unknown, but the NBA has equity capital of $15.5 million.

Arvest Bank is the largest bank in Arkansas with 240 locations and assets exceeding $11 billion. The acquisition of National Bank of Arkansas will add seven locations.

Read more at Arkansas Business.