Independence County, Arkansas

INDEPENDENCE COUNTY , ARKANSAS in assets. Our work goes right back into serving our area. That’s the heart of being a community banker − making sure you’re serving the local needs. Independence County has economic drivers that other areas don’t, so it provides a nice insulation.” The county’s trust in its banks combined with a solid economy was especially valuable during the pandemic. Mitchell reports that COVID was a challenge because there were no guidelines, so it was important to rely on the power of leadership and community. Both financial institutions got “heavily involved” with the Paycheck Protection Program (PPP), established in 2020 by the U.S. federal government to help businesses pay employees during lockdown. Citizens Bank and First Community Bank covered about 95 percent of customers by working around the clock. “We were one of the first banks to use it,” says Mitchell. “We quickly formed a team and got engaged. This is the role of a community bank − making sure you’re helping out your local area and saving those jobs. That was what helped Batesville.” Griffin completely agrees, noting how these banks always step up every time. “The result is our current unemployment rate is 4.5 percent, which is considered full employment. The state is 4.4 percent, but the national rate is 6.0 percent. This shows the resiliency of Arkansas, and our county, to keep people employed, working, and productive. The vibrancy of this community and economy is absolutely astounding.” A positive side effect is that in 2020, the county collected more sales tax than ever before, even pre-pandemic. In 2021, the sales tax is up 11 percent. Dale Cole, CEO of First Community Bank, describes Independence County as an ideal place to raise a family. He shares, “I have lived in this community for 33 years, and it has great school systems; the Batesville School District and the Southside School District. We’re also Adam Mitchell, CEO of Citizens Bank