Arvest Dominates Area Bank Earnings
by February 19, 2001 12:00 am 69 views
Five of the seven Northwest Arkansas banks that had the highest profits through 2000’s third quarter are owned by Arvest Bank Group Inc., according to Bauer Financial Reports Inc.
The latest Bauer Report, which analyzes the financial condition of the nation’s banks, thrifts and credit unions, was published in late January and includes 19 banks and thrifts in Benton and Washington counties.
The report rates the institutions on a five-point scale based on their financial statements through Sept. 30. The 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 required capital.
The “call reports” are filed quarterly with bank regulators. Bauer’s ratings are published as the regulatory information becomes available.
The Bank of Bentonville, flagship member of the Walton Family-owned Arvest Group, led Northwest Arkansas banks for the second-straight quarter in net income with $5.4 million. That’s a 50 percent gain on the bank’s $3.6 million second quarter profit.
Non-Arvest banks in the top seven (see chart) include Arkansas National Bank with a $3.4 million profit and First National Bank of Springdale with $2.2 million.