First Security Bank (AR) is headquartered in Searcy and is the 5th largest bank in the state of Arkansas. It is also the 203rd largest bank in the nation. It was established in 1932 and as of December of 2019, it had grown to 873 employees at 83 locations. First Security Bank (AR) has an A+ health rating.
Fantastic Bank Loaning Experience
Great bank to work with, very prompt on answering the phone and making sure everything goes smoothly. I would highly recommend their construction loans.
Outstanding Bank Experience
I have had experience with several banks in my home town and area, however First Security Bank (unique to Arkansas) is one of the most pleasant, professional banks I have ever dealt with in my life. I currently have a free checking account with this company and I could not be happier with it. I am very pleased that here are no fees whatsoever associated with my account. I have only done business inside on a couple of occasions and was greeted with friendliness and professionalism each time. Most other times I make deposits or withdrawals at the drive-through window. No place is perfect, however I have never had a negative experience at First Security Bank. I can't speak to other areas of business such as Savings or IRAs, but the checking account experiences I have had I would recommend to anyone. It would be great if this company went national as courteous and professional as each employee has been every time I have done business there.
An okay local bank from the 20th century
I have a checking account with First Security, a regional bank that has many locations spread throughout the state of Arkansas. I've had this account for about a decade; fees associated with it are typical when compared to similar local checking accounts, and the interest rates are fairly minimal. My experience with First Security has been generally good. Their phone customer service line has solid hours and low wait times; one of my issues with my statement was resolved over the line in under three minutes. Their other offerings in terms of accounts and investments tend to be fairly mediocre.
The only unfortunate quality that First Security has is their online account features. Their website is somewhat slow to use, and their Android application feels like a slower version of their website. Other local banks offer more tracking of accounts online than they do, as well. While First Security is a good bank overall don't use them if you highly value the online experience.
First Security Bank-Arkansas Outperforms The Rest
I have used several banks, and still do, however First Security Bank right here in Arkansas seems to really stand out among the others I have experience in using. One stand-out feature offered by First Security Bank is their free checking. Although many banks offer free checking accounts these days, First Security Bank was the first bank I learned about that offered this service. The staff always greets you with a smile and act very friendly. In the event that you must wait in line (which is rare) the staff completes your request in a timely manner. Moreover, First Security Bank gave me my very first home loan. This truly made a dream come true for my wife and I. First Security Bank has a special place in our hearts and I would recommend this bank to anyone.
Awful Bank
MULTIPLE ISSUES WITH THIS BANK! I would never recommend to anyone, EVER! Bank errors on their part repeatedly!!! After two months dealing with random charges I decided to close my account. Any time I had to call customer service the ladies were incredibly rude and unhelpful. My husband’s credit was ran by FSB and when we called and asked why, they said he still owed them from when an account was closed back in ‘13-14. Like $5! They’re the most ridiculous bank ever. We were NEVER contacted and their excuse was bc they needed updated ways of getting ahold of us!? This place is a joke.
Ridiculous
So I had an account with FSB for two months. I have been jumping threw hoops. First you have to apply yo every single service they offer(online checking, the having of a debit card, to use the app, overdraft protection, ect...) It takes up to a week for each of these things. For the overdraft protection it takes 30 days. You have to fill out a form and apply for it. Yet even after the tell you you are approved there is another 30 day period. Then if they decide not to pay the bill or what ever it is that needed paid they still charge you an over draft fee. When I called to ask about this, the person on the phone was rude and acted as if I was horribe for having the audacity to see if the protection they claimed to give would even work. I have in the past forgotten about an automatic draft or had an emergency where my account has overdrawn. I have no issue with paying a fee and any/all things required of me. I am just appreciative of my bank for having the option. I do not recommend this bank to anyone who has any financial issues what so ever. When I was a single mom there where times where I needed this protection to keep my lights on and this bank is not one you can count on. To top that off the app sucks. It is completely useless. Doesnt really give you any idea of how your account has progressed. I like seeing my balance after each transaction. With this you just have to trust your bank on the amounts, or keep spotless records. Which is kinda why i like the apps so I don't have to.
Horrible Bank!
Horrible experience! "Bank error" repeatedly botched auto debit (ach) payment. My tenant had double payments removed from her account THREE times. Funds deposited in wrong account on one occasion. FSB said they couldn't tell what went wrong every time. No accountability and no apology. Incompetent! I will be closing my accounts.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 5633 |
| Year Established | 1932 |
| Employees | 873 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.88% |
| Return on Equity - YTD | 9.44% |
| Annual Interest Income | $226.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $5.83B$5.26B |
| Loans | Q4 2019vs Q4 2018 | $2.53B$2.42B |
| Deposits | Q4 2019vs Q4 2018 | $4.38B$4.03B |
| Equity Capital | Q4 2019vs Q4 2018 | $1.17B$1.01B |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $84.0MM$80.5MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $3.7MM$3.8MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $2.4MM$3.7MM |
