Federal Deposit Insurance Corp.
Red Ink Follows 2 Banks Into 2024
Little Rock’s Encore Bank posted a $1.6 million loss in the first quarter, while Bank of England recorded a $1.5 million loss. read more >
by George Waldon -
Bank of England Hit With $1.5M Penalty for Deceptive Loan Practices
The FDIC handed down the penalty after a string of violations at Bank of England's former loan production office in West Bloomfield, Michigan. read more >
Pig Butchering (Gwen Moritz Editor’s Note)
A Kansas bank failure reminds me of episodes closer to home. read more >
by Gwen Moritz -
Arkansas Bank Deposit Growth Slows to 1.5%
It's the slowest growth since 2014, bringing total deposits to slightly more than $97 billion as of June 30. read more >
by Gwen Moritz -
First Service to Open a Full-Service Branch in Maumelle
The branch is scheduled to open in 2024. read more >
by George Waldon -
FDIC Recommends Overhauling US Insurance Deposit System
Under the proposal, the FDIC would offer business account coverage a higher levels than ordinary consumer deposits receive, the FDIC said. read more >
by Associated Press -
First Republic Bank Seized, Sold to JPMorgan Chase
San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan. read more >
by Associated Press -
Troubled Silicon Valley Bank Acquired by First Citizens
More than half of Silicon Valley's assets will remain in U.S. receivership. read more >
by Associated Press -
Fed Lent $300B in Emergency Funds to Banks in the Past Week
Nearly half the money — $143 billion — went to holding companies for two major banks that failed over the past week, Silicon Valley Bank and Signature Bank. read more >
by Associated Press -
Bank Deposit Growth Settles Down After COVID
Statewide deposit growth slowed to 5.5% after two consecutive years in which COVID stimulus cash fueled unusually strong deposit growth. read more >
by Gwen Moritz -
So Much Fraud (Gwen Moritz Commentary)
There’s always a lot of fraud. But there really has been more of it lately. read more >
by Gwen Moritz -
Arvest No. 1 Bank by Assets, But List is Shuffling
A near 10% increase in assets helped push Arvest to the top of Arkansas Business’ annual list of the state’s biggest banks, but more changes are in store as the runners-up prepare to close significant acquisitions. read more >
by Lance Turner -
In-state Bank Deposits Grow by 9.6% Over Past Year
Arkansas bank deposits exceeded $90 billion on June 30, an increase of 9.6% in 12 months and almost identical to the national trend line. read more >
by Gwen Moritz -
Walmart Offering Financial Tools, Fintech Plans
Walmart insists it doesn’t want to be a bank, but it’s surely acting like one. read more >
by Mark Friedman -
Stone Bank CEO Appointed to National Committee
Marnie Oldner of Stone Bank of Mountain View joins the Federal Deposit Insurance Corp.’s Advisory Committee on Community Banking. read more >
New Pitch for Bank Charter Takes Flight
Randy Dennis’ firm, DD&F Consulting Group of Little Rock, has been involved in something that’s even more unusual than a bank acquisition in 2020: a brand-new bank charter. read more >
Virus Relief Leaves Arkansas Banks Awash in Deposits
COVID-19 has taken a toll on bank profitability, but the combination of federal relief money and pandemic-induced financial caution created a temporary glut of deposits. read more >
by Gwen Moritz -
Cave City Embezzler Banned from Banking Industry
The Federal Deposit Insurance Corp. in June finished up some housekeeping by permanently banning Carrie C. Porter of Cave City from the banking industry. read more >
Arkansas Bankers Seize a National Moment
George Floyd’s death in May in Minneapolis set off protests against police brutality and racism nationwide, but it had an unforeseen effect on Arkansas banking. read more >
by Marty Cook -
Bank OZK Packs Little Rock With New Deposits
Bank deposits in Arkansas grew by 6.5% in the 12-month period that ended June 30, outpacing the national growth rate of 4.2% and topping $70 billion for the first time, according to data released in September by the Federal Deposit Insurance Corp. read more >
by Gwen Moritz -
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