Quarterly Bank Reports Show Arvest-Superior Might
by October 13, 2003 12:00 am 66 views
(Click here to see second quarter bank ROAs.)r
Arvest Bank Group Inc., the Fayetteville banking chain owned by Arvest Holdings Inc. in Bentonville, recorded second quarter income of $21.744 million. That’s 3.2 times larger than the income of its next biggest competitor in the market — Superior Bank in Fort Smith, which had $6.715 million.r
And Arvest is buying Superior. Their combined income for the first half of this year, $58.13 million, is more than double the entire assets of the market’s smallest player in Madison County Bank & Trust Co. (see chart).r
Farmer’s Bank in Greenwood had the market’s best return on its $173.989 million in assets, a 2.95 percent return. First Community Bank of Crawford County in Van Buren more than doubled its assets to $58.348 million. Gary Miller, the new president at First Community, could not be reached for comment regarding the asset leap.