11 Best Banks in Arkansas for 2024


There are plenty of banks in Arkansas. However, they’re not all created equal. In fact, there are significant differences between them. So, how do you know which bank is right for you? It all depends on your unique situation. Maybe your goal is to build a hefty emergency fund. Or perhaps you like the idea of doing all your banking online or via your mobile device.

11 Best Banks in Arkansas

No matter what your particular needs and preferences may be, you’re sure to find a bank (or a few banks) that checks off all your boxes. Our list of the best banks in Arkansas is sure to steer you in the right direction.

1. U.S. Bank

U.S. Bank offers a wide range of banking services, including various checking and savings account options, credit cards, mortgages, and other financial services.

U.S. Bank is currently welcoming new applicants with a special online offering:

  • Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account, and complete qualifying activities.
  • Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
  • Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

The account includes a free debit card that can be locked or unlocked if ever misplaced or stolen. There are no ATM transaction fees at U.S. Bank ATMs and no surcharge fees at over 40,000 MoneyPass® Network ATMs.

The checking account requires a $25 opening deposit and a $6.95 monthly fee. This fee can be waived for those 24 and under, 65 and over, or military members (must self-disclose).

Additionally, the fee can be waived with monthly deposits of $1,000+, an average balance of $1,500+, or holding an eligible U.S. Bank credit card. Qualifying for any Smart Rewards® tier (Primary, Plus, Premium, or Pinnacle) also waives the fee.

2. SoFi

SoFi stands out in the Arkansas banking scene with its outstanding online banking services. The institution is acclaimed for offering a remarkable 4.60% APY on its online savings account, complemented by a 0.50% APY on checking balances.

With SoFi, you won’t pay any monthly fees or overdraft fees, and you can enjoy access to over 55,000 fee-free ATMs. In addition, SoFi prioritizes the security of its clients’ deposits by extending FDIC insurance up to $2 million, in cooperation with partner banks.

Additional perks, like the opportunity for early paycheck access, the chance to earn up to $300 through direct deposit, underscore its allure. With such attributes, SoFi undeniably ranks high on the list of best banks in Arkansas.

3. Chime®

As an online-only bank, Chime® provides banking services to customers across the United States, including Arkansas.

With lower overhead costs compared to traditional banks, Chime offers a range of benefits, such as no monthly fees, no minimum balance requirements, and no minimum deposit requirements. The only potential fee you may encounter is an out-of-network ATM fee.

However, ATM fees can be easily avoided as Chime boasts an extensive network of over 60,0001 ATMs nationwide. With a Chime checking account, you get a free Visa debit card, and there’s no replacement fee if it’s lost.

Account holders also get access to the SpotMe® feature5, which enables fee-free overdrafts. Additionally, you can choose to round up your debit transactions and transfer the difference into a high-yield savings account, helping you reach or even surpass your savings goals.

Furthermore, Chime provides early direct deposits2 and a user-friendly mobile app compatible with iOS and Android devices.

4. Bank OZK

Based in Little Rock, Bank OZK has more than 340 branches across eight states. This is one of the top regional banks in Arkansas.

It offers a plethora of bank accounts to meet diverse banking needs, such as checking accounts, traditional savings accounts, money market accounts, CDs, and IRAs. Additionally, they offer lending products like personal loans and auto loans, mortgages, and credit cards.

While you can visit a local branch in Arkansas, you may also bank on the go with mobile banking. The Bank OZK mobile banking app will let you monitor your account balances, deposit checks, transfer money, and get alerts in real-time. You can also manage your bank accounts online from your computer.

5. Capital One

For a large, reputable banking solution, Capital One might make sense. While there are no physical branches in Arkansas, Capital One makes it easy to open and manage bank accounts online or via the mobile banking app.

You can opt for the 360 Checking account, which has no monthly maintenance fees. It also comes with a free checkbook, unlimited check writing, and a Mastercard debit card. The Capital One 360 Performance Savings is a high-yield savings account that allows you to earn interest and offers a great interest rate.

Another option is a certificate of deposit, or CD with no minimum deposit and terms between 6 months and 60 months. If you hope to teach your children how to save, you might want to go with MONEY Teen Checking account and Kids account that can serve as a savings builder.

The highly rated Capital One app allows you to deposit checks, set up custom alerts, track expenses, access account statements, use Zelle, and even track your credit score through CreditWise.

6. Regions Bank

Regions Bank is a regional bank that serves individuals and small businesses in the Midwest, Texas, and the Southern United States. It has 82 branches in Arkansas, with 25 of those branches near Little Rock.

When it comes to checking accounts, Regions Bank offers various options to meet varying customer needs. The LifeGreen Checking account, which is the prime checking account, is ideal for everyday banking while the LifeGreen Preferred Checking earns interest and Regions Now Checking is free of overdraft fees.

The bank’s lineup of savings accounts includes the LifeGreen Savings, which doesn’t charge monthly fees or impose a minimum balance requirement and offers an annual bonus.

They also offer the Savings account, which is a basic savings account, and the Minor Savings for anyone under age 18. Regions Bank also offers credit cards, loan products, lines of credit, mortgages, and investment accounts.

7. First Arkansas Bank & Trust

Also known as FAB&T, First Arkansas Bank & Trust is a solid choice if you’re looking for a local bank. There are many local branches and ATMs throughout Arkansas in cities like Jacksonville, Sherwood, Cabot, and Higden.

First Arkansas Bank & Trust’s personal banking options include checking accounts, savings accounts, money market accounts, debit cards, and credit cards.

You can also choose from financing solutions, such as personal loans and home equity lines of credit (HELOCs). In addition, the bank offers business services, including business loans, business transfers, business wire transfers, and check reconciliation.

As a FAB&T customer, you have the option to bank in-person at a nearby branch, online, or through the mobile banking app.

8. Arvest Bank

Headquartered in Bentonville, Arvest Bank is considered the oldest bank in Arkansas. It’s also the largest regional bank in the state, with $12 billion in in-state assets. You can find branches in Conway, Fayetteville, Fort Smith, Hot Springs, Jonesboro, Little Rock, Rogers, Springdale, and many other locations in Arkansas.

The bank offers six checking accounts, complete with varying perks such as free AD&D insurance, ID protection, and free overdraft coverage.

There’s also one savings bank account with a monthly fee you can waive as long as you maintain a daily balance of $100 or an average monthly balance of $500.

Arvest Bank lending products include home and auto loans, as well as personal loans. In addition, you can work with an advisor for retirement planning, investment planning, education planning, insurance planning, and estate planning.

Business services like small business deposits, commercial deposits, equipment financing, and business credit cards are offered as well.

9. CIT Bank

CIT Bank is now a division of First Citizens Bank, a leading family controlled financial institution with a reputation for high interest rates and excellent customer service. It provides an impressive lineup of products, such as the Platinum Savings account that offers 12 times the national interest rate, daily compounding interest, and no account opening or monthly maintenance fees.

We can’t forget the various CDs available, such as Term CDs, No-Penalty CDs, Jumbo CDs, and RampUp CDs. All CDs come with competitive CD rates.

With online and mobile banking, CIT Bank makes it a breeze to pay bills, send and receive money through Zelle, and make secure payments via Apple Pay and Samsung Pay. The bank also offers business banking and commercial services as well.

10. Chase Bank

Chase Bank is a national bank with roots that date back to 1799. It has numerous locations throughout the Natural State, primarily in the Little Rock area. As a Chase customer, you can also enjoy out of state access and use more than 4,700 branches and 16,000 ATMs throughout the country.

The bank’s lineup of products includes checking accounts, saving accounts, CDs, loan products, and wealth management services. If you have any questions or concerns, you can reach out to support in-person at a local branch, online, via phone, or on social media.

11. Bank of America

With Bank of America, you can enjoy the benefits of a large bank and access to in-person banking. The bank has branches or financial centers and ATMs throughout Arkansas in places like Bentonville, Fayetteville, Jacksonville, Little Rock, Pine Bluff, Rogers, and Springdale.

The bank offers checking accounts, savings accounts, CDs, credit cards with cash back and travel rewards. The bank also offers mortgages, home equity lines of credit, auto loans, and small business loans.

If investing is a priority, and you have at least $250,000 in eligible assets, you may want to consider Bank of America’s private bank services for individuals, families, and business owners.

These include portfolio management, specialty asset management, trusts and estates, long-term financial planning, charitable giving, family wealth planning, and art management.

How to Choose the Best Bank in Arkansas

Choosing among the best banks in Arkansas means weighing different aspects meticulously. Here are some factors to consider:

  • Products: Some banks offer a greater selection of products than others. If you’d like to stick to one bank for all of your financial needs, you’d be better off with a larger bank that can provide you with checking accounts, savings accounts, loans, retirement accounts, and more.
  • Fees: The reality is, many banks charge fees, like monthly maintenance fees and overdraft fees. Since fees can interfere with your financial goals, look for a bank that’s known for minimal to no fees. Typically, online banks charge fewer fees than brick and mortar banks because they have lower overhead costs.
  • Online and mobile banking: These days, most banks and credit unions let you open and manage deposit accounts and other accounts online or through a mobile banking app. If online and mobile banking are crucial for you, focus on a bank that offers it.
  • Reputation: Just because you find a bank with a website or in-person branches doesn’t mean it’s reputable. Do your own research and go with a bank that has high ratings and positive reviews from current and former customers.
  • FDIC insurance: While a bank failure is unlikely, it’s certainly a possibility. For this reason, you should choose a bank that’s insured by the Federal Deposit Insurance Corporation.
  • Customer service: Chances are you’ll have a question or concern at some point in time. Find a bank that offers excellent customer service and gives you multiple ways to go about receiving it.

Bottom Line

The Bear State offers a wide array of banks. Before you commit to one, make sure you explore all your bank and account options and weigh the pros and cons of each. Remember, that you don’t have to stay with a bank if you find a better option. Just make sure you manage any accounts you open and avoid unnecessary fees or debt. Good luck with your search for the best bank in Arkansas.

Frequently Asked Questions

How many banks are there in Arkansas?

Arkansas is home to 114 local and national banks. These banks offer banking services to Arkansas residents at 1,158 branches in more than 200 cities.

What are the largest banks in Arkansas?

There are many large banks in the Bear State. Some examples include Arvest Bank, Bank OZK, Regions Bank, U.S. Bank, First Community Bank, Citizens Bank, Bank of America, and Eagle Bank.

Should I choose an online bank?

If you feel comfortable with online banking, a digital bank like SoFi, Chime, Capital One, or CIT Bank might be worth exploring. While you won’t have access to in-person service at local branches, you may be able to lock in low fees and competitive interest rates.

Are Arkansas banks FDIC insured?

Fortunately, all reputable banks that serve Arkansas are insured by the Federal Deposit Insurance Corporation (FDIC). The standard deposit insurance amount is $250,000 per depositor per bank for each account. FDIC insurance can give you the peace of mind of knowing your money will be protected in the event of a bank failure.

Is Arvest a solid banking choice in Arkansas?

There’s a reason Arvest Bank is the oldest and largest regional bank in the state. It’s a suitable option if you’re looking for in-person service, a diverse array of products, and exceptional customer service.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

2. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

Anna Baluch
Meet the author

Anna Baluch is a freelance personal finance writer from Cleveland, OH. She enjoys helping people make smart financial decisions.