1. Welcome to AppraisersForum.com, the premiere online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Research on Banks

Discussion in 'Arkansas' started by Ron D. in NWA, Nov 9, 2009.

Thread Status:
Not open for further replies.
  1. Ron D. in NWA

    Ron D. in NWA Junior Member

    0
    Nov 19, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Arkansas
    I am looking at changing banks for just general banking needs, checking, savings, etc. Is there anywhere out on the net that I can research to find out the well-being of our local banks in Northwest Arkansas? I have heard that one (or more) has already got some letters due to bad numbers and I would prefer to stay away from the mess I got into while at Arkansas National Bank. :nono:

    Just want a solid institution that keeps it under control,,,,,,,,, suggestions accepted.

    Ron
     
  2. Rice Brewer

    Rice Brewer Member

    0
    Dec 14, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Arkansas
    Ron, go with the big boys on campus - Arvest. Personally, I would stay away from any state chartered institution.
     
  3. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    133
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Actually Arvest is state chartered as i recall. The got into it with the National Regulators and switched to a state charter maybe 10 years ago. The regionals are financially strong and I am not afraid of them. Some of the newest banks are weak and the newspaper does publish their lists every quarter which gives the percentage of non-performing loans. That is an awfully good way of vetting most of them. Anything over 5% gets a note from "momma"...the bank regulators.

    My brother used to have a contrarian way of investing. He bought Alltel once after having to fight with them for months over a phone bill. His comment was "any sunzbeeches that are that crooked have to be making money." That would put ****** and Bank of *** ****** pretty high up on the list :)
    Arvest is famous for their fees...they nickel and dime you on everything. I have to pay extra to get printouts of my checks...My business account was going to cost me considerable so I went to Decatur State Bank, who wanted my business and don't charge the fees.

    I would stay away from the "newbies" - any bank less than 10 years old. I ran backward from ANB a long time ago...When you wander the streets of Jackson, WYO and find an ANB office with a sign that says, "Open by Appointment Only" run for the exits.

    I currently bank at Arvest, Regions, and Decatur State Bank... I rely upon DSB...I would hate to depend upon the other two if I was in a pinch to borrow money however. BTW, I also have a banking account with my insurance company, State Farm and they financed my car mucho cheaper than Chase would have.
     
  4. Ron D. in NWA

    Ron D. in NWA Junior Member

    0
    Nov 19, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Arkansas
    Thank you both,, I have Regions for my business accounts and have no problems with them, but would like to keep my personal and business at 2 different places. My wife has an Arvest, but I had thought about First Security, First Federal or First Western. All are close to me but are still up in the air. I like the "hometown" banks like DSB but I really need to stay a little closer to home. Any info on Simmons First Bank???
     
  5. Mike Kennedy

    Mike Kennedy Elite Member

    38
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  6. Rice Brewer

    Rice Brewer Member

    0
    Dec 14, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Arkansas
    Interesting. I did not know that.
     
  7. EDWARD BERRY

    EDWARD BERRY Senior Member

    0
    Jan 15, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Ron,

    Arvest, United, Regions, Simmons, Signature Are All Ok. I Been Here Since 1949, Longer Than All Of Them.

    You Are Wise--business Account At One. -a Necessity Any More -no Account, No Cashie The Check.

    I Have A Small Saving Account At One, Just So I Can Cash A Check, Buy Money Order, Etc.

    Best To Keep Major Saving Account At Another, In "weird Name" In Case Of Hardship On Paying On Business Loan, Or Large Customer Check Bounce, Etc. Or Stupid A-s Legal Action.

    I Cashed A Ss Check That Was Over 6 Months Old, It Bounced- Bank Took It Out Of My Wife's Acct. So, They Can Access Any Accounts In The Banks For "payments".

    Be Careful To Not Put It On Fin. Statement. (thats Reason To Have It In Weird Name, Otherwise You Are In Big Trouble. Thats What Got Former Governor In Trouble (false Fin Statement).

    All The Above Are Insured For $250,000 Per Individual Acct. And I Think Twice That For Joint Acct. Thus Husband And Wife And Combined =$750,000.

    This Is Not Legal Advice, Just My Thoughts. One Has To Protect Oneself, Its Not Like It Used To Be. A Change Of Management Can Result In Not Renewing A Note, Calling A Note Due, Etc.

    Many Professionals Have Two Revocable Trusts Wit No Assets In Their Individual Trust. Thus If A Legal Case Is Filled, When Their Lawyer Checks Your Assets, There Are None, Usually He Will Not Take The Case. If They Pursue, A Friend Says He Does Not Appear-- If They Get A Judgment And Cannot Collect(which They Cannot With No Assets) The Still Have To Pay The Irs On The Non Collected Judgment As Income.

    Thus, Many Have No E&o Insurance.(so They Tell Me)
    This Sounds Crazy, But It Has Been Widely Circulated As Gospel.

    Again, No Legal Advice, Just S--t House Talk.

    Good Luck.
     
  8. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    133
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    I have done a lot of appraisals for Simmons, mostly farm, but I really like working with them. Very good outfit to appraise for but I don't have an account there.
     
Thread Status:
Not open for further replies.

Share This Page