Nevada County Picayune and Gurdon Times Newspaper Archive

Brannans lead Bank of Prescott into new millenium and beyond

Editor's Note: This is the fourth in a series of articles on the Bank of Prescott's first century.

On June 22, 1972 Johnny Brannan was elected as the bank's fifth president, and additionally CEO. The total assets of the bank were $13 million. The bank in 1972 purchased two additional adjoining properties to the main bank for future use. Assets of the bank reach $15 million as of the end of the year.

Additional expansions to the main bank building occurred in 1973, with completion in 1974. The year also saw the first bank accounts put on a computer system, with other accounts computerized in 1974.

The bank in 1975 purchased the property at the corner of East 3rd Street South and East Main Street for possible future expansion. The bank's board approved the establishment of an ATM in Emmet, believed to be the first off-site ATM in Arkansas.

The bank's loan system was converted to computer in 1977. Also in 1977, longtime bank employee and director, W.R. Hambright, was elected Chairman Emeritus in recognition of his 50-plus years of service. The bank's assets topped $20 million.

The bank celebrated its 75th anniversary in 1979. The Nevada County Day Service Center was about to come a reality and the bank made a $10,000 contribution to this endeavor. Long time employee and director W.R. Hambright died in late 1979.The bank's assets exceeded $25 million during the year.

The year 1980 saw the initial discussion of the formation of First State Bank Holding Company of Prescott, a one-bank holding company that became the owner of more than 98 percent of the stock of the Bank of Prescott. (The incorporation date of the holding company was January 28, 1981.)

In 1981 the bank's assets rose to over $30 million. Olen Hendrix resigned as Chairman of the board after 28 years of service. Johnny Brannan was elected to succeed him, and today, after 23 years of service, continues in that capacity.

The year 1983 marked the relinquishment by Johnny Brannan of the position of president, and the election of the bank's sixth president, John Brannan, Jr. who remains the president of the bank today. Assets of the bank ended the year at over $36 million.

The total assets of the bank as of the end of the 1986 were more than $42 million.

In 1988 the bank made a $10,000 contribution to the local hospital in hopes that such a contribution would help the hospital remain open for the local citizens.

Through the leadership of John Brannan, Jr., the old Nevada County Industrial Development Corporation was revitalized in 1989. In subsequent years, this lead to the current Prescott-Nevada County Economic Development Office. The bank today continues to strongly support the County's economic development efforts with annual contributions that exceed $5,000, plus the involvement of five of the bank's directors.

The bank in 1992 moved to a total in-house data processing system. Total assets of the bank year ending were $57 million.

In 1994 the bank became a member of the Federal Home Loan Bank of Dallas.

The assets of the bank exceeded $60 million as of year-end 1996.

The bank in 1995 purchased the former Dr. L.J. Harrell building next to the bank. The new property would be used for parking expansion.

The assets of the bank exceeded $65 million as of year-end 1998.

After much anticipation and anxiousness, Y2K went without a hitch on December 31, 1999, and January 1, 2000. The bank made a $10,000 contribution to help fund the new Hamilton Blakely Senior Citizens' Center.

The summer of 2000 saw the bank make a $15,000 contribution to the Prescott School District for the purchase of the scoreboard for the new gymnasium. In the fall of 2000, bank customers had their first opportunity to use TeleBANK-24, the bank's new automated voice response system. December 2000 gave the community and surrounding areas the worst ice storm in memory. While the storm paralyzed the entire southern part of Arkansas, the Bank of Prescott's disaster policy was invoked for the first time and allowed the bank to be open every day providing banking services to all its customers, and even in some cases, delivering money to its business customers.

The start of 2001 introduced the bank's customers to its new debit card. In July 2001 the bank's customers started receiving their new image checks and bank statements. September 2001 saw the dissolution of the bank's first holding company, First State Holding Company of Prescott. Bank customers were introduced to a new mortgage product through the Federal Home Loan Bank of Dallas that provided bank customers a fixed-rate home mortgage. The assets of the bank exceeded $72 million as of year-end 2001.

In June 2002 the bank made a $10,000 contribution to the Friends of the Library in the community effort to make the new Nevada County Library a reality. Also in June 2002 the bank began offering overdraft protection to its customers.

As the Bank of Prescott starts its second 100 years, it does so with the same pride, conviction and commitment to community that Governor McRae and his associates did in August 1904. There have been so many changes in these 100 years, not only in banking, but in all facets of life. But there is a constant in that the Bank of Prescott has, and will continue to be, committed to Nevada County and Prescott. All of its resources, including the hundreds of thousands of dollars of contributions, but most especially its "people" resources who live here with their families, will continue to strive to make our home a better place for all. We've been "Your Friends Since 1904" and want to continue to be so until 2104 and beyond.