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Today we are living in a world of technology and First Arkansas Bank and Trust use this tech effectively. This bank blends tech with its services to provide different types of financial solutions for the people in the community.

Now you can get pure, simple financial products like checking, savings, loans, credit cards, and many more to achieve the ultimate financial goal.

The best part is, they have different products for different types of situations. That’s how it’s easy to manage the money based on the customer’s purpose.

On top of that, online and mobile banking added an extra feature to their service. But how did they do it? Keep reading, you’ll discover more secrets about it.

Picture: First Arkansas Bank and Trust
Picture: First Arkansas Bank and Trust

What is First Arkansas Bank and Trust?

Community banks are not a new concept for the people of the United States of America. Among thousands of community banks, First Arkansas Bank and Trust are one.

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They are known for a variety of services that are easily accessible and controllable from mobile or online. It was established in 1949 and its headquarter is in Jacksonville.

In the state of Arkansas, this bank is treated as the 18th largest bank and 1046th largest bank in the nation. Their service and other financial activity dramatically change based on the demand of the consumer.

Now, they are focusing on making all the services and products more flexible and accessible. With an A+ health rating, this bank ensures the best banking experience and financial solutions to fit your financial needs.

Beyond that, branches in different locations make them more reachable for everyone.

Picture: Know about online financial services
Picture: Know about online financial services

What are Their Organization Strengths and Weaknesses?

Not every community bank is full of opportunities. They may have some disadvantages as well but general consumers hardly know about these.

A consumer must look for the financial and organizational parameters of a community before choosing any product or service. It’s essential to know to make the money and service more secure.

We’ve mentioned some key information about First Arkansas Bank and Trust.

Websitehttp://www.fabandt.bank
IndustriesBanking
Company Size201-500 employees
HeadquartersJacksonville, Arkansas
TypePrivately Held
Founded1949
FDIC InsuredYes
FDIC Certificate# 16849
Capital$117.08 MM
Return on Assets –YTD2.48%
Return on Equity – YTD17.61%
Annual Interest Income$26.2MM

Assets and Liabilities:

ParticularsQ3 2021Q3 2020
Assets$944.2 MM$831.6MM
Loans$560.0MM$534.1MM
Deposits$757.0MM$616.8MM
Equity Capital$118.9MM$141.3MM
Loans Loss Allowance$11.6MM$12.0MM
Unbacked Noncurrent Loans$7.3MM$16.9MM
Real Estate Owned$260.00K$0

What Types of Product First Arkansas Bank and Trust Offering?

This bank is offering a range of financial solutions through different services and products. All of them are available to meet your certain financial needs.

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That’s why it is also focusing on increasing its product line and offering more options. This bank wants to go the extra mile to serve the community.

After knowing all the products, you can easily choose which product or service is right for you and which one is not. Here is the list of all the products and services.

Personal Banking:

  • Checking
  • Savings
  • Plinqit: Savings Made Simple
  • Consumer Credit Card
  • ClickSWITCH
  • FABT Jr.
  • Personal Loans

Business Banking:

  • Checking
  • Savings
  • Business Credit Card
  • Business Loan

Loans:

  • Home Equity Line of Credit (HELOC)
  • Personal
  • Business
  • Mortgage & Real Estate

Wealth:

  • Wealth Management

Convenience Services:

  • Online Banking
  • Mobile Banking
  • Bill Pay
  • Zelle
  • QuB
  • SecureLOCK Equip
  • Debit Card
  • MasterCard SecureCODE
  • Business Services
  • Safe Deposit Boxes

What Are The Rates of Their Product?

Without offering the best rate and return, a product cannot draw people’s attention. Consumers always want the best return for their investment that helps them to get financial security as well as happiness.

The rate is always responsible to make a product the best or worst. It makes a bond between products and consumers. That’s why the rate is so important for general consumers.

This bank also gives a rough and tough competition to other community banks by offering fair rates for different but popular financial products. We’ve discussed more details below about it.

ProductCurrent Terms and RatesMinimum Balance for APY
Prime Savings 0.50% APY$0.01
Certificates of Deposit12 Months: 1.91% APY 24 Months: 2.02% APY 36 Months: 2.07% APY$10000 for all tiers
Money Market Accounts10K tier: 0.95% APY$2,500
Checking Accountsup to 2.05% APY$0.01

After reviewing the rate, it’s easy to imagine why their product is good not only for financial service but also for a better return.

Their checking, savings, money market, and CD accounts give fair rates for the consumers. But comparisons can make you clear why this rate is best in this race.

Notable RatesAPYVs. Others
Savings0.05%1.25%
1 Year CD0.25%0.85%
2 Year CD0.40%0.80%
5 Year CDNa1.30%
30 Year MortgageNa2.72%
15 Year MortgageNa2.36%
HELOCNa2.79%
Picture: National Average vs. First Arkansas
Picture: National Average vs. First Arkansas

How Good is Their Mobile Banking Feature? Is it Secure?

To make the account accessible, more control, and ensure flexibility, First Arkansas Bank and Trust introduced Mobile Banking along with the application for both Android and iOS platforms.

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It’s not possible to reach the branch all the time. That’s why a mobile banking app makes things easier. Through this app, a consumer can easily control the account by transferring money, receiving, paying bills, downloading statements, monitoring the transaction, and many more.

The question is how secure this app is. This app is so simple to use but its security is best considering other mobile applications of different community banks.

To keep your personal and financial information secure, this bank has safeguards in place. You can review their security statement as well.

Picture: Mobile App
Picture: Mobile App

Conclusion:

Sometimes banking goes beyond everything when a bank can offer all types of services and facilities that a community wants.

First Arkansas Bank and Trust, knew why they are important for the community. They wanted to be more than just a bank and finally, they are successes. Yes, a consumer won’t get frustrated after getting services from here.

It has almost every type of solution to make your financial dream come true. It’s their responsibility to keep people relaxed financially.

Now, this bank has become the “Best in the state” financial organization. It doesn’t matter, you are trying to receive services as individually or organizationally. They are always ready to serve you.

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