The bank, based in Little Rock, Arkansas, has filed an application with the Federal Deposit Insurance Corp. to open a second branch in Forsyth County.
Bank OZK has applied to open a sixth Triad location as it seeks to expand its growing presence in the Winston-Salem market.
The bank, based in Little Rock, Arkansas, has filed an application with the Federal Deposit Insurance Corp. to open a branch at 502 E. Mountain St. in Kernersville. Bank OZK bought the half-acre property in June from Phillips Family Enterprises LP for $475,000.
The move comes as Bank OZK makes a push into the Winston-Salem market.
Bank OZK moved up two spots to rank as the ninth largest bank in the Winston-Salem metro area, according to the FDIC’s market share report sing data as of June 30. Bank OZK has $382.8 million in local deposits in the market, which includes Forsyth, Davidson, Davie, Stokes and Yadkin counties. That was good for a 2.62% market share, up from 2.24% in 2023.
Bank OZK ranked No. 18 in the Greensboro/High Point market with $75.5 milion in deposits. It was the Triad's 14th largest bank in 2023, according to TBJ research, with more than $450 million in local deposits.
Of Bank OZK's five Triad branches, four are in the Winston-Salem market, including one at 1230 Creekshire Way off Hanes Mall Boulevard in Winston-Salem. It's other local branches:
As the country’s largest bank continues its push into the Triad and North Carolina, it has applied for its third Guilford County branch at the site of a former fast food restaurant.
JP Morgan Chase filed an application with the U.S. Office of the Comptroller of the Currency for a staffed branch at the northwest corner of Westover Terrace and Green Valley Road in Greensboro. The federal agency received the application Oct. 31 and scheduled the end of the official comment period for Nov. 25.
Chase opened its first Triad branch in September 2023 at 435 Pisgah Church Road in the Village at North Elm plaza in northern Greensboro, and soon after began construction on a branch at 1610 New Garden Road in Greensboro.
It has since begun work on three branches in Forsyth County: 102 Laura Ave. at University Parkway, Stratford Road at Knollwood Street, and most recently in August, at Country Club and Jonestown roads, all in Winston-Salem.
The newest location is at 1501 Westover Terrace, where a 1980 building was a Hardee’s restaurant. Its listed owner in Guilford County property records is Franklin and Church LLC of Lyndhurst, New Jersey, which bought it in 2011 for about $1.5 million.
A Chase spokesperson told the Business Journal the bank plans to open up to seven Triad branches by the end of 2026, with the next being the New Garden road location later this month.
While many other large banks have cut back their branch networks in favor of online services, Chase announced in February plans to open some 500 branches and renovate 1,700 over three years. It says it has the largest branch network in the United States and the only one with branches in all lower 48 continental states. In North Carolina, it lists 39, including 13 in Charlotte, five in Raleigh, four in Cary, two each in Durham and Garner and one in several other cities.
A year into the Triad market, Chase remains among the smallest institutions in terms of market share by deposits. It ranked 22nd by deposit share as of the Federal Deposit Insurance Corp.'s most recent report for the Greensboro-High Point market, reflecting June 30 figures.