Home Financial Record Bank OZK purchases 121 financial branch in Mandarin | Jax Daily Record | Jacksonville Daily Record

Bank OZK purchases 121 financial branch in Mandarin | Jax Daily Record | Jacksonville Daily Record

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Little Rock Arkansas-based OZK Bank bought a Mandarin-language office building from 121 Financial Credit Union for $ 2 million in a sale that closed on October 12.

121 Financial, based in Jacksonville, continues to occupy the building located at 12250 San Jose Blvd.

“121 is constantly monitoring market conditions and branch locations to ensure we are well positioned for our members. Based on these terms, we have chosen to sell and lease Mandarin’s location while continuing to monitor our options, ”said Paul Blackstone, COO of 121 Financial, in a statement emailed on 21 January. October.

“If / when we change our plans, as usual, our members will be the first to know.”

OZK Bank said via email that the current tenant at 12250 San Jose Blvd., which is 121 Financial, will stay until mid-2022.

OZK Bank purchased this building occupied by 121 Financial at 12250 San Jose Blvd. (Google)

The 2,668 square foot office was built in 2001 on 1.47 acres.

121 purchased the property in May 2012 from Regions Bank for $ 835,000.

“We acquired the property at 12250 San Jose Blvd. and consider additional potential future sites as part of our long-term planning, ”Bank OZK said in an October 21 email from spokesperson Susan Blair.

Bank OZK, formerly Bank of the Ozarks, now has a Northeast Florida branch at 10970 San Jose Blvd., 2 miles north of the new location. Both are south of Interstate 295.

She has a loan production office in Jacksonville Beach.

As of June 30, the branch held $ 155 million in deposits for a 0.16% market share, according to the Federal Deposit Insurance Corp.

OZK Bank said in the email that it has 45 offices in Florida, including the Jacksonville loan office and bank branch.

OZK Bank has announced plans to convert its credit bureau to a full-service bank branch in the first quarter of 2022.

“Jacksonville’s strong economy, diverse industrial base, and robust job growth make it a very attractive city for us to expand our presence over the next several years,” he said.

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