On December 19, 1904, the state of Arkansas granted a charter which founded Pike County Bank in Murfreesboro. The capital stock totaled a whopping $25,000, which back in the day was quite a lot of money. That would come to around $692,172 in today’s dollars.
The bank built their first building on the lot west of the current Pike County Archives Building in Murfreesboro. By 1912, the bank built a brick building on its new site located at the northeast corner of the courthouse square. As Pike County Bank began to grow in the early 1950s, it expanded by adding a new branch office located in Mineral Springs (October 1951). In July 1979, the bank built another building in a new location where it exists today in Murfreesboro, east of the Murfreesboro Post Office at 319 East Main Street.
The Bainum Family, the late Irvin C. Bainum & Evea Bainum, purchased Pike County Bank on March 21, 1986. In August 1996, Pike County Bank changed its name to Diamond State Bank (Murfreesboro, AR) and at the same time Bank of Glenwood became Arkansas Diamond Bank (Glenwood, AR). In March 2007, two of Southwest Arkansas's strongest community banks merged to become what is known today as Diamond Bank.