#13 - Jon & Max Harrell (Generations Bank)

NWA Founders

What does it take to sustain a family-owned bank for over 100 years—and still be positioned for explosive growth?
In this episode of NWA Founders, we sit down with Jon and Max Harrell, the fifth and sixth generation leaders of Generations Bank, to hear the story of how a small-town bank in South Arkansas transformed into a billion-dollar institution rooted in the heart of Northwest Arkansas.

From the early days in Calhoun County to their strategic relocation to Rogers, Arkansas, the Harrells share how vision, family legacy, strategic acquisitions, and an unwavering commitment to relationships have fueled their remarkable growth. Whether you’re leading a family business, navigating generational succession, or growing a startup, this conversation offers timeless lessons on leadership, scaling, and staying true to your values.

Summary

Starting in 1907 in tiny Harrell, Arkansas, Generations Bank’s story is one of endurance and vision. Jon Harrell shares the origins of the bank, how it survived the Great Depression, and how it quietly served small communities for decades before setting its sights on broader opportunities in Northwest Arkansas.

Leading a family-owned business into its sixth generation is rare. Jon and Max discuss how clear communication, strategic growth decisions, and honoring the company’s values have allowed them to not just survive but thrive. From expanding into Rogers, Fayetteville, and Bentonville to acquisitions across Missouri, the Harrells explain how they’ve modernized the bank while keeping its relational DNA intact.

As Generations Bank crosses the billion-dollar asset mark, Jon and Max reflect on the new challenges ahead—cybersecurity threats, non-bank disruptors, and the need to balance tech innovation with personal service. They share their vision for the new Rogers headquarters and how they plan to continue building a culture that attracts top talent and prioritizes long-term community relationships.

Highlights

00:10 – The Origins of Generations Bank in Harrell, Arkansas

10:00 – Choosing to Join the Family Business: Jon and Max’s Journeys

20:00 – Surviving the Great Depression and Growing in Rural Arkansas

30:00 – Transition to Northwest Arkansas: Buying the Rogers and Siloam Springs Branches

40:00 – Rebranding to Generations Bank and Moving the Charter to Rogers

50:00 – Strategic Acquisitions and Expanding into Bentonville and Missouri

1:00:00 – Preparing for $1 Billion in Assets and Regulatory Shifts

1:10:00 – Challenges Ahead: Cybersecurity, Talent Recruitment, and Market Disruption

1:20:00 – Vision for Rogers and Northwest Arkansas Over the Next Decade

Takeaways

1. Legacy is Built Through Intentional Leadership - Passing a business through six generations requires clear communication, adaptability, and deep respect for the original mission.
2. Relationships Will Always Win - Even in an increasingly digital world, Generations Bank proves that personalized service and community engagement are irreplaceable assets.
3. Vision and Instinct Drive Sustainable Growth - From moving the bank’s charter to seizing opportunities in new markets, Jon and Max show how trusting your gut—backed by thoughtful planning—creates lasting impact.

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NWA Founders is a voice for Founders, Owners, and Builders driving growth in Northwest Arkansas, and is hosted by Cameron Clark and Nick Beyer.