Bank deposits in state grow nearly 3% over year period

Bank deposits in Arkansas grew by almost 3 percent to $48.5 billion in the 12-month period ending June 30, according to the Federal Deposit Insurance Corp.

The overall growth contradicts speculation by some that banks in Arkansas are contracting, said Tim Yeager, associate professor of finance at the University of Arkansas at Fayetteville.

“You hear the idea that the economy in the state is getting weaker and that banks are not lending,” Yeager said. “So it is a surprise to most people when they hear that bank loan growth [in Arkansas] has actually been up a little bit over the last ...