Farmers Bank & Trust (AR) Offers Kasasa Cash In 7 States

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Availability: Market area is Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, and Texas.

Farmers Bank & Trust (FB&T) recently added a Kasasa Cash account to its product line, replacing its True Rewards Checking account. The Kasasa Cash earns 2.01% APY on qualifying balances up to $25k, with qualifying balances over $25k earning 0.40% APY. Non-qualifying balances earn 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.01*%-$25kFarmers Bank & TrustKasasa Cash
Accounts mentioned in this post. Rates as of December 7, 2016.

Kasasa Cash Qualification Requirements

  • At least 10 VISA® Debit Card purchases.
  • At least one Direct Deposit or one ACH auto debit/credit.
  • Be enrolled in and receive eStatements.

The Kasasa Cash has no minimum balance requirement or monthly service fee, but does require a $100 minimum opening deposit. Unlimited nationwide ATM fees will be reimbursed. Three Kasasa Cash accounts are allowed per household. Following six consecutive months of non-qualification, the Kasasa Cash account will convert to a Farmers Checking account (non-reward).

Kasasa Saver

Like the Kasasa Cash account, the Kasasa Saver has no minimum balance requirement or service fee, but does require a $25 minimum opening deposit. Qualifying balances up to $100k earn 0.50% APY; qualifying balances over $100k AND non-qualifying balances both earn 0.05% APY. There is a limit of six fee-free withdrawals per month, with a $4 fee per each additional withdrawal.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.50*%-$100kFarmers Bank & TrustKasasa Saver
Accounts mentioned in this post. Rates as of December 7, 2016.

Availability

Headquartered in Magnolia, Arkansas, Farmers Band & Trust’s market area is primarily Arkansas. Although the online application states, "Thank you for choosing FB&T. We welcome all residents of the United States to apply," according to CSR, “In order to open an account with Farmer's Bank and Trust you would need to live in states that are contiguous to Arkansas.”

In case your U.S. geography skills aren’t what they used to be, the contiguous states are Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, and Texas.

Opening a Kasasa Cash checking account can be done online, or at any of the 19 Arkansas branches located in Blevins, Camden (4), Haskell, Hope (3), Lewisville, Magnolia (4), Malvern (2), Taylor, and Texarkana (2). The Bank also has three Texas branches – New Boston and Texarkana (2).

Bank Overview

Farmers Bank & Trust (FDIC Certificate # 1291) has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 15.05% (above average) based on March 31, 2016 data. In the past year, FB&T has increased its total deposits by $17.88 million, an above average annual growth rate of 1.62%. Please refer to our financial overview of Farmers Bank & Trust for more details.

Farmers Bank & Trust is an independent community bank that was established in 1906 with approximately $75k in assets. In the past nine years, FB&T has expanded its operation, purchasing Southern State Bank (central Arkansas), opening a branch and mortgage department in Texarkana (TX), and acquired 1st Bank (six branches along the I-30 corridor). Farmers Bank & Trust is currently the 7th largest bank in Arkansas, with assets in excess of $1.2 billion.

How the Kasasa Cash Compares

When compared to the 25 High Yield Reward Checking Accounts (RCA) tracked by DepositAccounts.com, which are available to Arkansas residents and have maximum qualifying balances of at least $25k, Farmers Bank & Trust’s Kasasa Cash APY currently ranks third.

The above rates are accurate as of 8/23/2016.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account rates table or our Rates Map page.

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3.00% 36-Month Triple Option CD at Southern State Bank in Arkansas - Local Only
Southern State Bank is offering a special CD called Triple Option CD. The details and rate are listed on the bank's home page as of 9/07/09. These include:
  • Earn 3.00% APY, 36 month, Bonus of 0.25% if open a True Rewards Checking account
  • Select a one-time interest rate increase
  • Minimum balance to open is $2,000. A 50% additional deposit on the original balance is allowed
  • A no-penalty 50% withdrawal on the original balance is allowed
  • CD terms & caveats: penalty for early withdrawal; variable rate CD; interest rate may change prior to maturity; personal accounts...

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5.01% Reward Checking Account at Farmers Bank & Trust in Arkansas - Local Only
Farmers Bank & Trust is offering a reward checking account called True Rewards Checking with the following rates and features if certain monthly requirements are met:
  • 5.01% APY on balances up to $25,000
  • 1.01% APY on portion of balance over $25,000
  • 0.25% on all balances if requirements are not met
  • Refunds ATM fees nationwide
The monthly requirements include:
  • 10 check card purchases (excludes ATM transaction)
  • 1 direct deposit or ACH auto debit
  • Access on-line banking
  • Receive e-statements
Additional features of the account regardless of the monthly requirements include:
  • $100 minimum initial deposit
  • No minimum balance requirement
  • No monthly service charge
  • Free online bill pay
  • Overdraft...



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