Lender reaches deal for Bank of McCrory

First National Corp., which owns First National Bank of Wynne, has agreed to acquire Bank of McCrory, the two banks said Monday.

Terms of the deal, which is expected to close this fall, were not disclosed.

First National Bank of Wynne, in Cross County, was established in 1915. The bank has about $280 million in assets. It has six locations serving Wynne, Harrisburg, Cherry Valley and Forrest City.

Bank of McCrory, in Woodruff County, was founded in 1903. It has about $75 million in assets.

The banks have agricultural lending in common, said Sean Williams, chief executive officer of First National Corp.

The deal is a good one for the two banks and also for the city of McCrory, said Vance Thompson, CEO of Bank of McCrory.