Each year, Arkansas business brings you the list of the biggest banks in the state ranked by assets, and for 2009, the number one bank held its top spot.
Arvest Bank of Bentonville remained far and away the biggest, with more than $11 billion in assets.
The bank, which has branches in Arkansas, Oklahoma, Missouri and Kansas, is also ranked 92 among the top 100 banks in the nation.
This comes as Arvest purchased Solutions Bank of Overland Park, Kansas last year, which had more than $500 million in assets.
Rounding out the top 5 banks are:
- First Security Bank of Searcy with $3 million in assets at no. 2.
- Bank of the Ozarks of Little Rock with $2.7 million assets at no. 3.
- Centennial Bank of Conway with $2.6 million assets at no. 4.
- Liberty Bank of Arkansas of Jonesboro with $2.5 million at no. 5.
You should note that the Arvest purchase of the bank in Kansas last year was an FDIC-assisted purchase of a failed bank.
More deals like that, where the government helps banks buy other banks that are found to be insolvent have been taking place recently.
Centennial Bank has snapped up two banks in recent weeks in FDIC-assisted deals; Old Southern Bank of Orlando and Key West Bank, both in Florida. Those deals instantly added millions in assets and deposits.
Bank of the Ozarks has picked up an out-of-state bank in a similar deal.
As for Centennial Bank, executives tell Arkansas Business this week that they're gearing up for more bank takeovers.