Lenders
Union Bank of Mena
Union Bank is a community bank serving West Central Arkansas and the River Valley from Mena, Arkansas. Its commercial lending team writes commercial real estate loans for the purchase, refinance, renovation and construction of owner-occupied and investment property.
Construction financing is short term and can convert to a business mortgage once a project is complete and move-in ready, and renovation borrowers may be able to finance against the after-renovation value. Repayment terms are customized case by case, and the bank emphasizes that its lending team lives and works in the same region and makes credit decisions locally.
The bank traces its origins to March 1897, when Mena's first bank was organized. It reopened in 1934, the year FDIC insurance began, as The Union Bank of Mena, purchased First National Bank at Paris in 2005 to expand into the River Valley, and simplified its name to Union Bank in 2023. It employs over 110 team members with an estimated $6.1 million annual payroll, and is regulated by the FDIC with deposits insured up to $250,000.
Loan minimums, recourse terms, rate structures and cash-out policies are not published. Those come from the commercial lending team directly.
Best for
Business owners and property investors in Polk County and the Arkansas River Valley who want a local lender that makes its own credit decisions. Borrowers outside West Central Arkansas, or anyone needing a published rate sheet, should look elsewhere.
What they do
- Commercial real estate purchase loans
- Commercial mortgage refinancing
- Business construction loans
- Renovation financing on after-renovation value
- Owner-occupied and investment property financing
- Business and personal banking
- Online and mobile banking
Details
| Attribute | Value |
|---|---|
| Team size | 51-200 employees |
| Other offices | Hatfield, AR, Wickes, AR, Paris, AR, Ratcliff, AR, Ozark, AR, Clarksville, AR, Waldron, AR, Booneville, AR, Russellville, AR |
| Memberships | FDIC-insured bank |
| Lender type | Bank, Portfolio |
What stands out
- Traces its origins to March 1897, when Mena's first bank was organized in Polk County.
- Purchased First National Bank at Paris in 2005 and expanded into the Arkansas River Valley.
- Employs over 110 team members with an estimated $6.1 million annual payroll.
- Branches in Mena, Hatfield, Wickes, Paris, Ratcliff, Ozark, Clarksville, Waldron, Booneville and Russellville.
- Short-term construction financing can convert to a business mortgage once the project is complete.