Arkadelphia’s Elk Horn Bank served the area for decades after its founding in the late nineteenth century, and the origin of its unique name piqued the interest of many through the years. While that name is no longer in use, the “Elk Horn” legacy is evident in the community.

Elk Horn Bank opened March 1, 1884, and was among some of the first banks to be established in Arkansas. It had capital of a whopping $4,000! Businessman S.R. “Rush” McNutt and bookkeeper John N. Stuart organized the bank and initially ran it out of the back portion of McNutt’s mercantile building.

As McNutt and Stuart brought their vision into reality, they realized their new entity needed a name. The men struggled to come up with a good one. But, according to local legend, one of them looked up and saw an elk head mounted on the wall of McNutt’s store and said, “Let’s just call it the Elk Horn Bank!” Tired of agonizing over a name, they both liked the idea and the unique moniker took its place in Arkadelphia history.

McNutt’s store at Main and Seventh served as the bank’s first location. The bank soon outgrew the mercantile building, so Elk Horn soon moved to another Main Street site before purchasing property at Sixth and Main, where it operated under the Elk Horn name for decades.

The bank was officially incorporated in 1903. In 1909 officials added trust powers and changed the legal name to Elk Horn Bank and Trust Company.

Elk Horn Bank’s memorable history includes the lengthy tenure of one of its employees. W.E. Barkman joined the bank as cashier in 1891 when J.N. Stuart left to become head of the Draughon Business College in Arkadelphia. Barkman remained at the bank until 1953, which could possibly be a state record for a banker. He was a descendant of Clark County pioneer Jacob Barkman and lived in the historic Barkman House on Tenth Street. He often attributed his longevity to the fact that he walked to and from the bank (about ten blocks!) four times a day, six days a week.

A noteworthy incident occurred during the Great Depression. At a time when banks were closing across the nation, many people began to withdraw their money before a bank failed. To prevent such a run, Elk Horn’s president famously placed many thousands of dollars in cash in the bank’s window for all to see. This novel approach restored confidence. Elk Horn successfully avoided a run and managed to survive the trying economic times. Additionally, when the Federal Deposit Insurance Corporation (FDIC) was established in 1933, the bank became a member. And, in 1941, Elk Horn became a member of the Federal Reserve System.

In more recent years, Elk Horn continued to innovate. In the fall of 1967 it became the first bank in the area to offer drive-through service. The new drive-through branch was located at Fourteenth and Pine.

Elk Horn Bank played a key role in many public projects through the years by its involvement in financing. Among the many early endeavors were the county courthouse, the old Ouachita River bridge, the city’s first paving district, and various church and school projects.