“This is an incredible bank with great customer and community support. The most significant thing about this bank is the longevity of the executives. To have 100 years with only six presidents – that’s something you don’t see,” said former bank president John Dews at a celebration commemorating the 100th anniversary of Simmons Bank in El Dorado yesterday.
One hundred years of history could be found in the Simmons Bank lobby yesterday morning, as former employees and executives gathered to reminisce. The four living presidents of the bank, former and current, were in attendance, with some travelling across the state to be there.
“I think it speaks to our dedication in this community to provide the customer service and products and services that the people of Union County need,” said Rob Robinson, current president of Simmons Bank. “I think it’s significant that we’ve been able to survive through all the economic ups and downs and still are a thriving institution.”
The bank was originally founded in 1919 by a small group of Union County business people. With $50,000 in capital stock and $5,000 in paid surplus, the original stockholders charted the bank through the State of Arkansas on Aug. 8, 1919 as the Bank of Commerce, opening their doors on Oct. 1 in a building west of the Union County Courthouse known as the “Old Opera House.”
Four years after opening, the bank surrendered its state charter in favor of a national one, becoming the National Bank of Commerce.
“I went to work for the bank in 1953, and then I went to the service. When I came back from the service, I went back to the bank and stayed there until I retired,” said James Cook, former president of the National Bank of Commerce, now known as Simmons Bank. “There’s been a lot of changes made since I was here.”
It was during this time that former president James Cook took the reins. Under his leadership, the bank expanded further, growing their resources from right above $31 million in 1973 to exceeding $100 million by Dec., 1984.
“We had over 100 employees at one time,” Cook said. “In those days, you came to work in the morning and you stayed until you got through at the end of the day.”
The bank moved to its current location at 100 W. Grove during Cook’s tenure as well, in 1973. In 1985, the building was expanded and renovated to be the one El Dorado residents today know.
After Cook came Dews, who started at the bank as their first chief financial officer. Now retired in Hot Springs, he made the trip to El Dorado yesterday afternoon to take a trip down memory lane.
“It’s always home. El Dorado will always be home,” Dewes said. “It’s neat seeing what’s happening here. It always feels like coming home.”
The National Bank of Commerce opened its last branch under Dewes’ leadership in 1998. The following year, the National Bank of Commerce was acquired by Simmons First, becoming Simmons First Bank of El Dorado, N.A. Scott Fife took over that year, staying until current president Rob Robinson became president.
“It’s a wonderful community bank. It’s still close to home and there’s been a lot of growth. [There were] a lot of good people to work with and it’s just family-oriented,” Fife said of his time as president. “We loved our customers and our customers loved us, and we built a nice franchise here, that’s obviously bolstered into what Simmons is today.”
In 2010, the bank converted from a national bank to a state bank, again changing the name, this time to Simmons First Bank of El Dorado. The bank grew to serve Strong residents in this decade, adding two branches there.
When Simmons First Bank of El Dorado merged with Simmons First National Bank, on Aug. 8, 2014, the bank became Simmons Bank, the name it is currently known by.
The past and present presidents all said the personalized service provided at the bank is what has kept it going so long.
“It was all community. We were very focused on customer service and, primarily, being a part of the community,” Fife said. “I think for any bank to survive you have to have that community-feel, which isn’t as prevalent now as you get into the banking of the 21st century.”
At a celebration at the main branch on Thursday, former and current employees and executives gathered to see old photographs, memorabilia and keepsakes from throughout the bank’s long history. Ashtrays bearing the National Bank of Commerce logo, historic employee directories and photographs spanning decades were available to view.
“The Simmons affiliation that happened just about 20 years ago today speaks to our company’s recognition of Union County and the predecessors of NBC and what they bring to that franchise, and that’s why they came to El Dorado in the first place,” Robinson said. “We’re proud to be a part of that team, and some of these folks that are here today were part of the NBC team, so we still have that connection, which I think is important. We’re a big family and have been from day one.”
Caitlan Butler can be reached at 870-862-6611 or [email protected].
This story has been updated since it was originally published.