by Gwen Moritz
Posted 11/5/2012 12:00 am
Arvest Bank of Fayetteville controlled 12 percent of statewide bank deposits as of June 30, stretching out its lead over No. 2 Regions Bank.
Regions, based in Birmingham, Ala., added deposits — almost $40 million more, to $4.28 billion. But because that growth was less than 1 percent, its share of the statewide market fell slightly to 8 percent.
The remaining 80 percent of the state’s bank deposits are divided among 142 banks doing business in the state. But almost exactly half of Arkansas bank deposits are parked in the top 10 banks.
First Security Bank of Searcy took the No. 3 spot away from Bank of America by growing its deposits by 6.4 percent to $3.25 billion. That’s an increase in deposits of $208.7 million.
Bank of America of Charlotte, N.C., dropped to No. 4 after its in-state deposits declined by 6.5 percent to $3.13 billion.
Liberty Bank of Arkansas, based in Jonesboro, remained at No. 5 but improved its deposits by 6.8 percent, an additional $136.8 million that brought its total to $2.14 billion and improved its statewide market share to 4 percent.
Centennial Bank moved up one spot to No. 6, despite increasing its deposits by only 1.4 percent and actually losing a bit of market share. The Conway bank saw its out-of-state deposits improve by $360 million.
Centennial’s move up in the rankings came at the expense of BancorpSouth Bank of Tupelo, Miss., which dropped to No. 7 after its Arkansas deposits slumped by $121 millionto just under $1.74 billion