Arkansas’ Past Dues Fourth Highest in Region

In the third quarter of 2009, Arkansas banks collectively had 2.37 percent of their loans past due 90 days or more or in nonaccrual status, ranking as No. 4 of the seven states in the U.S. Federal Reserve Bank’s Eighth District. The district includes all of Arkansas and parts of six other states.

Arkansas’ past due collective was up 0.68 points from the third quarter a year earlier. Many banks measure success and performance by the amount of their loans that are noncurrent, which means they’re past due more than 90 days or no longer accruing interest.

For the third quarter, Searcy-based First Security Bank had total noncurrent loans of 0.94 percent; Fayetteville-based Arvest Bank had a 2.90 percent ratio; Joneboro-based Liberty Bank of Arkansas had a 2.25 percent ratio; and Bank of the Ozarks of Little Rock had a 1.00 percent ratio of noncurrent loans.

The collective noncurrent ratio for the district was 3.06 percent, and the U.S. average was 5.05 percent.