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Forbes Names Four Arkansas Banks to “Best Bank in Each State” List

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Four Arkansas banks have been named to Forbes’ annual “America’s Best Bank in Each State List” for 2019.

Bank OZK, First Security Bank, Simmons First National and Arvest Bank have been named to the annual list. These Arkansas banks competed with the roughly 5,400 financial institutions in the U.S. for a spot on the list.

Along with market research firm Statista, Forbes evaluated the banks by using surveys of more than 25,000 customers across the United States. These surveys were designed to provide an overview of customers’ opinions about their banking relationships.

Banks were evaluated based on “overall recommendations and satisfaction.” There were also five sub-dimensions, which included trust, terms and conditions, branch services, digital services and financial advice.

Bank OZK, based in Little Rock, was named to the 2019. Also in 2019, Forbes named Bank OZK to the Global 2000 list, putting the bank at #1990 overall and at #1713 and #1156 in profit and assets, respectively. The bank was also named the 2019 World’s Best Banks list and to the America’s Best Banks list at the #15 spot.

First Security Bank also made the cut for the Forbes list. According to Forbes, First Security has “the most complete and diverse product offering of any Arkansas-based financial services holding company.”

The third bank named to the Forbes list was Simmons First National, based in Pine Bluff. Simmons also was named to Forbes’ list of America’s best banks for 2019, coming in at #49. Founded 1903, the bank has 195 branches in seven state with 2,640 employees.

 “We are honored by this vote of confidence from Forbes and our customers,” Marty Casteel, chairman and CEO of Simmons Bank, said in a statement. “Simmons has served our communities as a trusted financial advisor for more than 100 years, and we’re proud of awards that build on that legacy.”

Arvest Bank is the youngest Arkansas institution that made the list, having been founded in 1961. Earlier in the year, Arvest Bank was named to Forbes’ “World’s Best Bank” list.

Arvest Bank, according to Forbes, has the resources of a “large super-regional bank” but provides the “local commitment and decision-making of a local community bank.”

READ MORE: Technology is Reinventing Banking in Arkansas

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