Arvest has largest deposit market share in the state

Fayetteville-based Arvest Bank retained the largest market share of deposits in Arkansas with $8.452 billion as of June 30, according to the Federal Deposit Insurance Corp. annual report released Tuesday.

Arvest grew deposits 10.13% from the June 2016 and expanded its market share to 13.17% of the state’s $64.197 billion total. A year ago Arvest commanded 12.63% of the market. Outside Arkansas, Arvest had deposits of $6.532 billion, flat to a year ago. Arvest has 116 branches, one less than last year.

The Arvest number does not include its recent acquisition of Bear State Bank which ranked No. 9 on its own in the report. Bear State had deposits of $1.29 billion or 2.01% of the market share. Bear State grew deposits by 5.2% from a year ago. Adding the Bear State deposits to Arvest, the bank would have a 15.18% of the market share.

Bank of the Ozarks is the largest bank in the state in terms of assets but it has far more deposits outside the Natural State than within. Bank of the Ozarks had 9.37% of the marketshare this year, with in state deposits totaling $6.015 billion, up 11% from a year ago. Like Arvest, Bank of the Ozarks grew its share from 8.91% a year ago. Outside the state the bank’s deposits totaled $10.225 billion up 134% from June 2016. The bank has 82 branches around the state compared to 81 a year ago.

Bank of America commands 6.72% of the state’s consumer deposits with just 20 branches around the state. The bank’s deposits totaled $4.315 billion as of June 30, up 2.98% from the prior year. Bank of America has three fewer branches and conceded a little of its 6.9% market share a year ago.

Centennial Bank, like Bank of the Ozarks, has worked to diversify outside of Arkansas in recent years but has grown its in state deposits. The bank has 6.72% of the deposits in the state valued at $4.192 billion, compared to $3.819 billion a year ago. Conway-based Centennial leaped over Regions Banks this year and also grew its out-of-state deposits to $3.66 billion, up 26% from a year ago. Centennial operates 80 branches across the state, one less than a year ago.

Pine Bluff-based Simmons Bank grew its market share to 6.46% this year, up from 6.08% in 2016. Deposits rose to $4.144 billion, up 15% year-over-year. Simmons operates 83 branches around the state, down from 85 last year. The bank also has $2.66 billion in deposits outside the state, up 9.46% from the year-ago period. Simmons also leaped one place ahead in market share over Regions Bank.

Regions Bank lost some its share last year, but ended with 6.11% of the deposits which totaled $3.922 billion as of June 30. The bank closed 8 branches over the year and now has 87 locations around the state. First Security Bank of Searcy tied with Regions with 6.11% of the market share. First Security had $3.922 billion in deposits as of June 30, up 8.46% over the past year. First Security added one branch over the past year to give it 78 locations.

NORTHWEST METRO
49.16%: Arvest Bank, deposits of $5.299 million, up 17.8% (Arvest acquired Bear State Bank for $391 million in August and this report does not reflect the combined deposits of these two banks in the markets where they operate.)
7.42%: First Security, deposits of $800 million, up 10.8%
5.03%: Bank of America, deposits of $541 million, up 34%
3.44%: Legacy National, deposits of $370 million, up 19.35%
3.22%: Signature Bank of Arkansas, deposits of $346 million, up 14.56%
3.13%: Bank of the Ozarks, deposits of $336 million, up 48%
2.87%: Farmers & Merchants, deposits of $309 million, down 3.4%
2.24%: Simmons First, deposits of $241 million, up 4.3%
2.22%: Centennial Bank, deposits of $239 million, up 17%
1.86%: Iberiabank, deposits of $200 million, down 9.5%

FORT SMITH METRO
20.85%: First National Bank of Fort Smith, deposits of $966 million, up 2.11%
19.04%: Arvest Bank, deposits of $882 million, up 0.71%
11.32%: BancorpSouth Bank, deposits of $524 million, up 2.14%
7.43%: Citizens Bank & Trust, deposits of $344 million, up 2%
6.73%: Armstrong Bank, deposits of $312 million, up 2.9%
4.63%: The Community State Bank, $214 million, up 7%
4.4%: Regions Bank, deposits of $203 million, down 10%
4.1%: Central National Bank of Poteau, deposits of $193 million, up 3.2%
3.73%: Firstar Bank, deposits of $172 million, up 3.6%
3.43%: Farmers Bank, deposits of $159 million, flat to year ago.

LITTLE ROCK METRO
22.12%: Bank of the Ozarks, deposits of $4.407 billion, up 12%
17.77%: Bank of America, deposits of $3.54 billion, down 2%
10.67%: Centennial Bank, deposits of $2.126%, up 10.38%
9%: Regions Bank, deposits of $1.793 billion, down 4.37%
7.75%: First Security, deposits of $1.543 billion, up 2%
6.95%: Arvest Bank, deposits of $1.384 billion, down 1.8%*
5.8%: Simmons First, deposits of $1.154 billion, up 38%
2.95%: U.S. National Bank, deposits of $588 million, up 4.62%
2.72%: Iberiabank, deposits of $544 million, up 3.6%
2.21%: First Arkansas Bank & Trust, despots of $439 million, up 4.77%

JONESBORO METRO
25.94%: Centennial Bank, deposits of $771 million, up 15.76%
9.16%: Simmons First, deposits of $272 million, up 1.49%
8.01%: Iberiabank, deposits of $238 million, up 8.6%
6.83%: Regions Bank, deposits of $202 million, down 2.88%
6.25%: First Community Bank, deposits of $185 million, up 56%
5.51%: First Security Bank, deposits of $163 million, up 29%
5.46%: Bear State Bank, deposits of $162 million, down 4.5% “
5.16%: Focus Bank, deposits of $153 million, up 2.68%
4.95%: First National Bank, deposits of $147 million, up 37%
3.83%: Bank of America, deposits of $143 million, up 68%