Arkansas bank deposits grew by 5.6 percent in the year that ended June 30, beating the national growth rate of 4.6 percent.
Total deposits in the state grew to almost $64.2 billion even as the number of separate bank charters and branch locations continued to decline.
While Bank of the Ozarks of Little Rock last year overtook Arvest Bank of Fayetteville as the state’s largest bank charter by assets, Arvest has maintained its position as the state’s deposit market leader. Both Arvest and Bank of the Ozarks grew in-state deposits by more than 10 percent in the 12 months that ended June 30, but Arvest’s $8.45 billion represents more than 13 percent of the statewide total, while Bank of the Ozarks’ $6 billion remained in second place with statewide market share of 9.4 percent.
Arvest also has the most branches in the state – 116 as of June 30, one fewer than last year. Bank of the Ozarks had 82, down by five in a year. The total number of branches operating in the state dropped by nine, to 1,345, continuing a steady decline after peaking at 1,513 just before the financial crisis of 2008.
A total of 122 different banks were operating at least one office in Arkansas as of June 30, down from 127 a year earlier. Of those, 98 were Arkansas charters, down by six in a year as the industry continues to consolidate.
The Federal Deposit Insurance Corp. released its annual summary of deposits Tuesday. It is an accounting taken at midyear by the government agency that insures bank deposits. It is not a holistic report card on the health of a bank or of the banking industry, but it is the only official report that provides Arkansas-specific trend data for banks that operate in multiple states.
Top 20 Banks Ranked by Arkansas Deposits
| Annual Deposits | Market Share | |||||||
| Institution | HQ State | Ark. Branches | 2017 |
2016 |
% Change | 2017* |
% Change (2016-17) | |
| 1 | Arvest Bank | AR | 116 | $8,452,517 | $7,674,575 | 10.14% | 13.17% | 4.28% |
| 2 | Bank of the Ozarks | AR | 82 | $6,015,662 | $5,417,588 | 11.04% | 9.37% | 5.16% |
| 3 | Bank of America | NC | 20 | $4,315,196 | $4,193,480 | 2.90% | 6.72% | -2.61% |
| 4 | Centennial Bank | AR | 80 | $4,192,770 | $3,819,469 | 9.77% | 6.53% | 3.98% |
| 5 | Simmons Bank | AR | 83 | $4,144,488 | $3,697,837 | 12.08% | 6.46% | 6.25% |
| 6 | Regions Bank | AL | 87 | $3,922,589 | $4,127,862 | -4.97% | 6.11% | -10.01% |
| 7 | First Security Bank | AR | 78 | $3,922,570 | $3,616,454 | 8.46% | 6.11% | 2.69% |
| 8 | BancorpSouth Bank | MS | 43 | $1,651,704 | $1,637,464 | 0.87% | 2.57% | -4.46% |
| 9 | Bear State Bank | AR | 30 | $1,290,524 | $1,226,888 | 5.19% | 2.01% | -0.50% |
| 10 | IberiaBank | LA | 23 | $1,171,539 | $1,162,085 | 0.81% | 1.82% | -4.71% |
| 11 | U.S. Bank | OH | 40 | $1,021,344 | $949,167 | 7.60% | 1.59% | 1.92% |
| 12 | First National Bank of Fort Smith | AR | 18 | $1,009,094 | $976,082 | 3.38% | 1.57% | -2.48% |
| 13 | First National Bank (Paragould) | AR | 14 | $983,597 | $863,680 | 13.88% | 1.53% | 7.75% |
| 14 | First Community Bank (Batesville) | AR | 15 | $888,590 | $789,037 | 12.62% | 1.38% | 6.15% |
| 15 | Farmers Bank & Trust (Magnolia) | AR | 19 | $878,036 | $936,693 | -6.26% | 1.37% | -11.04% |
| 16 | Southern Bancorp Bank | AR | 26 | $821,678 | $763,909 | 7.56% | 1.28% | 1.59% |
| 17 | Farmers & Merchants Bank (Stuttgart) | AR | 19 | $777,299 | $811,880 | -4.26% | 1.21% | -9.70% |
| 18 | Citizens Bank (Batesville) | AR | 18 | $646,348 | $569,168 | 13.56% | 1.01% | 7.45% |
| 19 | Chambers Bank | AR | 18 | $606,740 | $552,788 | 9.76% | 0.95% | 4.40% |
| 20 | Wells Fargo Bank | SD | 2 | $605,362 | $615,417 | -1.63% | 0.94% | -6.93% |
* For June 2017
Source: Federal Deposit Insurance Corp. summaries of deposit for June 30, 2017, and June 30, 2016.
Sign up for Daily E-news
