Springdale Bank Gets Good Marks
by November 13, 2000 12:00 am 74 views
Bauer Financial Reports Inc. — which routinely analyzes the financial condition of the nation’s banks, thrifts and credit unions — published in late October its latest ratings list for Arkansas.
A total of 19 banks and thrifts in Benton and Washington counties are included in the report, which rates the institutions on a 1-to-5 scale on the basis of their financial statements through June 30. The statements, or “call reports,” must be filed quarterly with bank regulators.
Of the local institutions that received Bauer’s highest, five-star rating, First National Bank of Springdale reported the highest year-to-date income, with $1.6 million.
“We use the [Bauer] report to measure ourselves against the competition in the area, and we feel like we had a good first half of the year,” said Jerry Reinert, First National president and chief operating officer.
“It’s the best way to look at our competition in this area as opposed to countrywide statistics.”
The rating system gives higher marks to banks that hold more capital than is required by federal regulators. Three stars equals the minimum requirements and five means the institution has at least twice the capital that’s required.
None of the Northwest Arkansas banks fell below the three-star mark.
The Bank of Bentonville, a member of the Walton family-owned Arvest Bank Group Inc., got 3 1/2 stars despite having the most income through June of any bank locally with $3.6 million. Arvest McIlroy Bank of Fayetteville, which got four stars, was next in income, with $3.5 million and Arvest Bank of Rogers had $3.1 million and got 3.5.t
The Bank of Bentonville had the largest tangible assets locally, with $616.5 million. It was followed in that category by Bank of Rogers with $564.7 million.
According to the Bauer report, five-star Simmons First National Bank of Pine Bluff recorded the largest income statewide, at $5.3 million. Three-star First Security Bank in Searcy, in which Fayetteville developer Jim Lindsey is a significant stockholder, was next in statewide income, with $4.281 million.