The Bank of Fayetteville is headquartered in Fayetteville and is the 37th largest bank in the state of Arkansas. It is also the 1,963rd largest bank in the nation. It was established in 1987 and as of September of 2013, it had grown to 111 employees at 8 locations. The Bank of Fayetteville has a B health rating.
It took several weeks (4?) and many phone calls (6?) to determine all the ins-and-outs of getting an account opened, getting set up for online banking and estatements, getting PINS for the cards, etc.
My paperwork was misplaced by the bank at one point, and several times my phone calls were not returned within a few biz days. The staff was friendly but the operation seems very inefficient. I just logged in (online) and find nothing on the login screens about the rates having dropped from 3.2% (what it was when I opened the accounts in Feb-April) to 2.75% on 5/13/2010. The login screens need to share this information upfront.
Rate dropped .35% during the 2 1/2 weeks it took me to find out my appication didn't go through because of a supposed SOS typo. Perhaps there was a typo, but shouldn't take almost 3 weeks and 4 calls to learn status of application. With the rate drop, I'll take my business elsewhere.
I opened a checking account this year and had no problems at all. Very friendly staff. I then opened a savings account with no problems. Never had problems with ATM.
BOF has handled my banking for years. Great service. Ease of opening an account has been a great experience over the years.
Rick Woods, Attorney
It took several weeks to set up account which everyone already spoke about. I was not notified when rates dropped by nearly 1%. Then I moved and called in to change my address. Several weeks later I needed to get $300 out of ATM and was denied (This account had roughly $50k at the time of denial). Well I called the bank and was told if I dont send a written notice, I can't get money out of the ATM. I was stranded at DMV and tried to explain but it fell on deaf ears. Instantly I told the CSSR that I need the account closed and she passed me over to another person who basically calls my bluff and says she can't close it without a written letter. She did not even try to understand the issue at hand. Anyhow, the following day, I transfered all the money into my Fidelity online brokerage account proving that I can get my money out and when the bank gets tired of the account being dormant it will close it down.
I'm a finance analyst with one of the biggest 4 banks in the country and know that core deposits are the most important source of lending $ in any bank. Contrary to popular beliefs the bank wants the small peoples money since a) the high volume usually outweighs the rich peoples CD's or high balance b) Core deposits presents low risk compared to high deposits.
I dont mean to lecture but the point is that the bank has idiots running its operations expecially the customer service reps. They probaly think what harm can 50K do but multiply that by thousands and you get the idea. Deposits fund loans, loan fund interest income finito.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 The Bank of Fayetteville had $10.09 million in non-current loans and owned real-estate with $45.01 million in equity and loan loss allowances on hand to cover it. This gives The Bank of Fayetteville a Texas Ratio of 22.42% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for The Bank of Fayetteville decreased slightly from 31.04% as of September 30, 2012 to 22.42% as of September 30, 2013, resulting in a positive change of 27.78%.This indicates that the balance sheet and financial strength for The Bank of Fayetteville has improved slightly in recent periods.
In the past year, The Bank of Fayetteville has decreased its total deposits by -$11.74 million, resulting in -4.02% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth The Bank of Fayetteville has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. The Bank of Fayetteville has $330.54 million in assets with $45.01 million in equity, resulting in a capitalization level of 13.62%, which is excellent.
|FDIC Certificate #||26975|
|Assets and Liabilities|
|Equity Capital||$41.98 million|
|Loan Loss Allowance||$3.03 million|
|Unbacked Noncurrent Loans||$2.50 million|
|Real Estate Owned||$7.59 million|
|Historic Data - September 2012|
|Equity Capital||$42.27 million|
|Loan Loss Allowance||$2.71 million|
|Unbacked Noncurrent Loans||$2.50 million|
|Real Estate Owned||$9.71 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.1%|
|Return on Assets||0.91%|
|Return on Equity||7.29%|
|Interest Income||$10.10 million|
Always verify rates and promotions with the bank or credit union. We are not The Bank of Fayetteville, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||-||-||Smarty Pants Savings|
|0.05%||-||-||Health Savings Accounts|
|0.25%||$100k||-||Bright Money Market|
|0.60%||$500||-||48 Month CD|
|0.60%||$500||-||60 Month CD|
|0.55%||$500||-||36 Month CD|
|0.50%||$500||-||24 Month CD|
|0.35%||$500||-||12 Month Flex CD|
|0.35%||$500||-||18 Month CD|
|0.25%||$500||-||9 Month CD|
|0.20%||$500||-||182 Day CD|
|0.50%||-||-||60 Month IRA|
|0.45%||-||-||36 Month IRA|
|0.40%||-||-||24 Month IRA|
|0.25%||-||-||12 Month IRA|
|0.25%||-||-||18 Month IRA|
|0.15%||-||-||18 Month IRA Variable|
|0.15%||-||-||12 Month Variable Grow IRA|
|The Bank of Fayetteville Locations|
|West Fork Branch||200 Main Street||West Fork, AR 72774|
|Prairie Grove Branch||202 Hindman St||Prairie Grove, AR 72753|
|Farmington Branch||257 West Main||Farmington, AR 72730|
|North Branch||3120 North College Avenue||Fayetteville, AR 72703|
|Wedington Branch||3150 Wedington Drive||Fayetteville, AR 72704|
|Dickson Street Branch||542 West Dickson Street||Fayetteville, AR 72701|
|The Bank Of Fayetteville||One South Block||Fayetteville, AR 72703|
|Crossover Branch||Se Corner - Highway 45 and Crossover Avenue||Fayetteville, AR 72701|