A new list compiled by Arkansas Business lists 15 area banks in the top 60 in the state and 7 in the top 10 according total deposits. The annual list was published this month and comes from the Federal Deposit Insurance Corporation.Arvest Bank, headquartered in Fayetteville with multiple branches in the Twin Lakes Area, is again ranked number one with nearly $12.4 billion in deposits. That is 12.7% of all deposits in the state, but down from 14% in 2022.
Bank OZK moved from third to second in the state with deposits totaling $9.64 billion which was an almost 38% increase over last year.
First Security Bank is ranked number four despite going from $6.65 billion in 2022 to $6.16 billion this year. Bank of America was fourth, but fell to fifth after losing nearly $1 billion in deposits.
Centennial Bank checks in at number six in Arkansas with $5.22 billion in deposits. Regions Bank is number seven with $4.55 billion, Cadence Bank is number eight with $2.04 billion and First Community Bank is number nine with $1.83 billion in deposits.
Other banks ranked in the top 60 include Farmers & Merchants Bank at number 13, U.S. Bank is number 16, Anstaff Bank is ranked number 23, Stone Bank is number 29, FNBC Bank checks in at number 32, First Service Bank is number 33, Equity Bank ranks number 45 and Bank of 1889 is number 57.
Arkansas Business says the summary of deposits is an accounting taken each June 30 by the federal agency that insures bank deposits. It is not a holistic report card on the health of a bank or of the banking industry. It is, however, the only official report that provides state-specific data for banks that operate in multiple states.
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