Since its humble beginnings in 1906, Smackover State Bank has evolved into a pillar of financial strength and community support in Smackover, Arkansas, and beyond. With a rich history spanning over a century, the bank has consistently provided its customers with a wide range of financial services, fostering economic growth and creating lasting relationships within the community.
For over 115 years, Smackover State Bank has maintained an unwavering commitment to stability and soundness. As of December 2023, the bank boasts a total asset base of $395 million, a testament to its prudent financial management and ability to withstand economic fluctuations. This financial strength has earned Smackover State Bank the highest possible credit ratings from multiple reputable rating agencies, including Moody's Investors Service and Fitch Ratings.
Smackover State Bank offers a comprehensive suite of banking products and services to meet the needs of individuals, businesses, and organizations. These include:
Beyond its financial services, Smackover State Bank is deeply committed to giving back to the community it serves. The bank actively supports local schools, non-profit organizations, and community events. Its employees volunteer countless hours to worthy causes, making a tangible difference in the lives of those around them.
Sarah Davis, a lifelong resident of Smackover, opened a savings account at Smackover State Bank when she was just 10 years old. With consistent deposits and smart financial planning, she was able to accumulate a substantial sum of money over the years. When she decided to purchase her first home, Sarah's savings account provided her with the down payment she needed to secure her dream home.
This story illustrates the transformative power of saving and the importance of starting early.
John Smith, a local entrepreneur, approached Smackover State Bank for a business loan to expand his small restaurant. The bank carefully evaluated John's business plan and financial history and approved the loan. With the additional funding, John was able to purchase new equipment, hire more staff, and expand his menu offerings. As a result, his business flourished, creating jobs and contributing to the local economy.
This story highlights the vital role that business loans can play in fostering economic growth and job creation.
Mary Jones, a retired school teacher, was concerned about her financial future. She approached Smackover State Bank for financial planning services. The bank's experienced financial advisor assessed Mary's income, expenses, and risk tolerance. Together, they developed a personalized financial plan that included investments, estate planning, and income strategies. Thanks to the bank's guidance, Mary has peace of mind knowing that her financial future is secure.
This story demonstrates the importance of professional financial planning, especially as individuals approach retirement.
Year | Total Assets | Net Income |
---|---|---|
2023 | $395 million | $20 million |
2022 | $375 million | $18 million |
2021 | $350 million | $16 million |
Product/Service | Description |
---|---|
Checking Accounts | Accounts for everyday transactions |
Savings Accounts | Accounts for earning interest on deposits |
Business Loans | Loans for business expansion and growth |
Investment Services | Services for managing and growing investments |
Trust Services | Administration of trusts and estates |
Initiative | Description |
---|---|
Financial Literacy Programs | Education programs on budgeting, savings, and financial planning |
Charitable Donations | Support for local non-profit organizations |
Employee Volunteerism | Encouraging employees to volunteer in the community |
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