Bank of Salem, located in Fulton County Arkansas, is proud to serve the area since 1908. The Bank of Salem was organized and incorporated in November 1908. The first bank was on the north side of the Court Square in the embossed tin front building where Aid True Value was located for years. In 1919 it moved to a new native stone structure on the NE corner of the square where Hughes, Welch, and Milligan is presently located. In 1965 the bank moved to its third and present location, a new brick veneer building just off the square on Church Street.
The facility was expanded to double its original size in 1976. In 1982, the Bank of Salem opened its first branch facility at Viola, 10 miles west of Salem, to better serve the western part of Fulton County. In January 2004 the bank opened the Mammoth Spring Bank, a branch of the Bank of Salem. Bank of Salem also has an insurance company, SABCO Insurance, which has offices located inside the main bank lobby and on Pickren Street in Salem.
The bank was established with $25,000 in capital, which was later changed to $20,000 in capital and $5,000 in surplus. In 1950 capital was increased to $50,000 and in 2007 has increased to over $11 million and asset size has increased to over $120 million.
The Bank of Salem offers Checking, Savings, CDs, IRAs, Personal Loans, Agriculture Loans, Residential Loans, Construction Loans, Home Improvement Loan, Commercial Loans.
Main Office Bank of Salem
207 West Church Street
PO Box 338
Salem, AR 72576
(870) 895-2591
Viola Branch of the Bank of Salem
Hwy. 62/412 East
PO Box 313
Viola, AR 72583
(870) 458-2272
Mammoth Spring Branch of the Bank of Salem
465 West Main
PO Box 67
Mammoth Spring, AR 72554
(870) 625-3339
