Unico stays true to small-town roots
BY CALEB TAYLOR
ctaylor -at- paragoulddailypress.com
Banks are not always the most well-liked institutions in any economy, but that can be even more true in tough economic times.
Unico Bank in Paragould is trying to show that banks can still be a friend of the average guy.
“We’re still committed to serving the community in northeast Arkansas and southeast Missouri,” said Rusty McMillon, vice president and head of public relations for Unico Bank. “All we serve are small towns, but we offer the technology [of bigger banks]. We try to keep the small bank feel [toward customers].” According to its website, in addition to in-person bank transactions, Unico allows customers to do business with their bank via the telephone and the Internet. Unico offers consumer, agricultural, home, and commercial loans. In addition to savings and checking accounts, Unico offers customers savings options such as Independent Retirement Accounts (IRAs), Roth IRAs, and savings bonds.
Unico Bank has 11 locations in the region, including three in Paragould. Leon and Barbara Brinkley of
Paragould purchased the original Unico Bank in Irondale, Mo. The bank had assets of $10 million when
they purchased it. Today, those assets have grown to $228 million, according to McMillon.
McMillon said Unico never took any Troubled Asset Relief (TARP) funds from the federal government
during the latest recession.
“We’ve tried to be careful with money and make good loans,” McMillon said.
Unico is not just about making a profit, however. According to McMillon, many employees of the bank
serve on various civic and school clubs. Also, one customer received help from the bank when she was in
a tough spot.
Myra Twitty of Paragould built a house with her husband last year. However, during construction of the
house in March, which she financed with a loan from Unico, her husband passed away. The husband had
no life insurance and she was left to wonder how she was going to survive.
“Most banks would have foreclosed on me,” Twitty said. “Chip Dortch [vice president/branch manager]
went beyond what I was expecting. They [Unico] were willing to extend the loan for four months, lower
my interest rates, and not require payments [while I tried to sell the house].”
Twitty was able to find a buyer for her house shortly thereafter.
She’s currently in the process of moving into another home with her 20-year-old son which she is
financing with a loan from Unico.
