Total Assets Up to $64.9B, FDIC Report Finds

Total assets were up by more than $1 billion from a year ago in the third quarter at Federal Deposit Insurance Corp. institutions in Arkansas, according to a forecast of banking conditions.

Assets were up to $64.9 billion from $63.6 billion in the second quarter, and $62.2 billion a year ago.

Since 2012, total assets have grown from $61.2 billion, all while the number institutions continues to dwindle. A year ago, there were 126 FDIC institutions in Arkansas. Now, that number is 111. 

As of now, 82 of those institutions have assets of more than $100 million. That’s down from 85 in the second quarter, 87 in the first quarter, and 93 a year ago.

The breakdown on institutions and assets is as follows:

• 29 institutions, or 26.1 percent, with less than $100 million
• 41 institutions, or 36.9 percent, between $100 million and $250 million
• 34 institutions, or 30.6 percent, between $250 million and $1 billion
• 6 institutions, or 5.4 percent, with $1 billion to $10 billion in assets
• one institution, or 0.9 percent, with more than $10 billion in assets

As far as asset quality goes, past-due and nonaccrual loans were down to 2.23 percent from 2.33 percent in the second quarter and 2.40 percent a year ago. Noncurrent loans were down to 1.19 percent from 1.33 percent in the second quarter and 1.26 percent a year ago.

The allowance for loan and lease losses was down to 1.66 percent for total loans, compared to 1.76 percent in the second quarter and 1.82 percent a year ago. ALLL was up to 1.24 percent for noncurrent loans, compared to 1.17 in the second quarter. But it was down from 1.35 percent a year ago. Net loan losses were down to 0.09 percent from 0.13 percent in the second quarter and 0.12 percent a year ago.

Total deposits are also on the rise, up to $52.4 billion in the third quarter from $52.1 billion in the second quarter and $50.8 billion a year ago. 

The Memphis area, which includes institutions in Tennessee, Mississippi and Arkansas, was the largest deposit market, both in terms of institutions (57) and deposits ($23.7 billion). In deposits, it was followed by the Little Rock-North Little Rock-Conway market ($14.7 billion), and in institutions by the Fayetteville-Springdale-Rogers market (39). The Fort Smith market had 21 institutions and $4.1 billion in deposits, while the Jonesboro market had 20 institutions and $2.4 billion in deposits.

As of Sept. 30, FDIC institutions in Arkansas had a net income of $609 million, compared to $571 million in 2013, and $500 million in 2012.

The FDIC state profile also gave an update on building permits and nonfarm jobs. To view the entire report, click here (PDF).