Deposit Data Show Bank of Arkansas Up

Bank of Arkansas N.A. recorded the biggest increase in deposits last year with a 47.1 percent jump from $113.622 million during 2001 to $167.111 million for 2002. Jeff Dunn, president and CEO of Bank of Arkansas, said in December that the bank was trying to build its deposits through an aggressive CD-rate strategy.

But equally as interesting is the 25.6 percent drop in deposits at Decatur State Bank (see chart, p. 10), the largest drop in the market. Its $112.511 million in 2001 deposits fell to $83.725 million.

Vernon Austin, president and CEO of Decatur State, said his bank simply let many of its out-of-area deposits run out.

“We are trying to do more with our local customers instead of taking CDs off the national market,” Austin said. “The local money was more feasible for us to use so we could pay more to our local customers.”

The chart intentionally omits deposits for publicly traded national firms such as Regions Financial Corp. of Birmingham, Ala., ($28.493 billion in June 2002) and Bank of America in Charolette, N.C., ($399.654 billion).

Deposit Data

Banks listed by 2002 year-end deposits with dollar values in millions:ttttRanktBanktCityt2002 Depositst2001 Depositst% Change

1tArvest Bank*tFayettevillet$4,150.451t$4,040.671t2.7%

2tSuperior BanktFort Smitht$1,224.832t$1,219.946t0.4%

3tFirst Security Bank**tSearcyt$675.960t$655.508t3.1%

4tFirst Federal Bank of ArkansastHarrisont$569.147t556.068t2.4%

5tFirst National Bank of Fort SmithtFort Smitht$521.223t$544.205t-4.2%

6tFirst National Bank of SpringdaletSpringdalet$302.185t$308.690t-2.1%

7tArkansas National BanktBentonvillet$288.317t$306.605t-6.0%

8tCommunity First BanktHarrisont$206.182t$179.698t14.7%

9tBank of Fayetteville N.A.tFayettevillet$205.473t$188.494t9.0%

10tFirst National Bank in Green ForesttGreen Forestt$198.850t$180.772t10.0%

11tCitizens Bank & Trust Co.tVan Burent$198.376t$190.487t4.1%

12tSimmons First Bank of Northwest ArkansastRogerst$172.049t$185.995t-7.5%

13tBank of Arkansas N.A.tFayettevillet$167.111t$113.622t47.1%

14tFirst Western Bank & Trust Co.?tRogerst$165.086t$149.307t10.6%

15tCommunity BanktFayettevillet$163.464t$168.387t-2.9%

16tBank of GravetttGravettet$156.297t$145.100t7.7%

17tFirst State Bank??tFayettevillet$155.719t$141.857t9.8%

18tDelta Bank & Trust Corp.#tBella Vistat$139.731t$110.758t26.2%

19tFarmers BanktGreenwoodt$130.546t$114.036t14.5%

20tArkansas State BanktSiloam Springst$115.582t$104.531t10.6%

21tFirst National Bank BerryvilletBerryvillet$105.739t$102.847t2.8%

22tUnited BanktSpringdalet$87.472t$63.584t37.6%

23tBank of RogerstRogerst$85.499t$82.104t4.1%

24tDecatur State BanktDecaturt$83.725t$112.511t-25.6%

25tBank of Eureka SpringstEureka Springst$69.507t$63.232t9.9%

26tFirst State BanktHuntsvillet$63.371t$59.795t6.0%

27tBenefit BanktFort Smitht$56.183t$51.464t9.2%

28tFirst Community BanktVan Burent$35.989t$24.078t49.5%

29tMadison Bank & Trust Co.tKingstont$25.894t$33.797t-23.4%

*Includes bankwide totals although Arvest Bank Group Inc.’s 14 banks weren’t completely consolidated into one Fayetteville charter until 2002. **Headquartered in Searcy and includes statewide totals. ?Headquartered in Booneville and includes bankwide totals.?Branch of First State Bank in Lonoke and includes bankwide totals. #Headquartered in Parkdale and includes bankwide totals.