Stone Bank is one of the first banks in Arkansas to implement a solar electric power generation plant, according to a news release.
Property adjacent to Stone Bank's White Hall branch is the future home of a 219 kW solar array that will produce enough solar energy to cover about 79% of the bank's electricity usage at five of its branches at White Hall, Mountain View, Harrison, DeWitt and Gillett.
Upon the recent signing of a contract with Entegrity Energy Partners to build the solar array, Stone Bank is set to secure more than $1.1 million in lifetime savings.
"One of our guiding principles is to 'Do Right' by our shareholders, customers, and associates," said Kirby Williams, executive vice president of Stone Bank. "We feel that this project benefits all of these publics."
Once complete, the project will offset the carbon equivalent of planting 3,969 trees, removing 52 cars from the road, or powering 44 homes for one year, according to the release.
"Stone Bank is proving that it pays to think sustainably," said Elisabeth Bates, business development associate at Entegrity, an energy services, sustainability, and solar development company. "This solar initiative will allow the bank to hedge against inflation while reducing their carbon footprint and cementing their role as community leaders."