The First State Bank of DeQueen: A Legacy of Financial Strength and Community Support

Introduction

Since its inception in 1903, First State Bank of DeQueen has played a pivotal role in the economic and social fabric of DeQueen and the surrounding communities. With a rich history spanning over a century, the bank has consistently provided its customers with exceptional financial services, fostering economic growth and empowering individuals and businesses alike.

History and Growth

First State Bank of DeQueen traces its roots back to 1903, when it was established with a modest capital of $10,000. Over the years, the bank steadily expanded its operations, opening branches in surrounding towns and counties. By the mid-20th century, it had become one of the largest financial institutions in southwestern Arkansas.

In 1985, First State Bank of DeQueen became a member of the Federal Deposit Insurance Corporation (FDIC), providing additional security and stability to its depositors. This move further cemented the bank's reputation as a trusted and reliable financial partner.

Financial Strength and Performance

First State Bank of DeQueen is a testament to the power of community banking. The bank has consistently maintained high levels of capital and assets, ensuring its ability to meet the financial needs of its customers even during economic downturns.

According to the Federal Deposit Insurance Corporation (FDIC), as of June 30, 2023, First State Bank of DeQueen had total assets of $678 million, total deposits of $570 million, and total loans of $485 million. These figures demonstrate the bank's strong financial position and its commitment to supporting the local economy.

Products and Services

First State Bank of DeQueen offers a comprehensive suite of financial products and services tailored to meet the needs of individuals, businesses, and municipalities. These services include:

• Checking and savings accounts
• Business loans and financing
• Mortgages and home equity loans
• Investment services
• Online and mobile banking

Community Involvement

Beyond its financial services, First State Bank of DeQueen is deeply committed to supporting the communities it serves. The bank actively participates in various charitable initiatives, community development projects, and educational programs.

Through its partnerships with local organizations, First State Bank of DeQueen plays a vital role in improving the quality of life for residents and fostering a sense of community.

Benefits of Banking with First State Bank of DeQueen

There are numerous benefits to choosing First State Bank of DeQueen as your financial partner:

• Local Decision-Making: Unlike large national banks, decisions at First State Bank of DeQueen are made locally, ensuring that the bank is responsive to the specific needs of the community.
• Personalized Service: With a focus on customer relationships, First State Bank of DeQueen provides personalized service and tailored financial solutions for each individual customer.
• Community Involvement: By supporting local initiatives, the bank invests in the well-being of the community, creating a mutually beneficial relationship.
• Financial Stability: With a strong financial track record and FDIC insurance, First State Bank of DeQueen offers peace of mind and security for depositors.

Common Mistakes to Avoid When Choosing a Bank

When selecting a financial institution, it is important to avoid certain common pitfalls:

• Overlooking Local Banks: Don't assume that large national banks are always the best choice. Local banks often offer more personalized service and support community initiatives.
• Ignoring Fees and Charges: Carefully compare the fees and charges associated with different bank accounts and services. Hidden fees can erode your savings over time.
• Neglecting Online Banking: In today's digital age, online and mobile banking are essential for convenience and security. Choose a bank that offers robust online banking features.
• Overlooking Customer Service: Exceptional customer service is paramount. Look for a bank that is responsive, helpful, and treats you with respect.

Why Community Banking Matters

Community banks play a crucial role in the economic health and well-being of local communities. Here's why:

• Job Creation: Community banks provide financing for local businesses, creating jobs and stimulating economic growth.
• Support for Entrepreneurship: Community banks are more likely to lend to small businesses and entrepreneurs who are vital for innovation and job creation.
• Community Development: Community banks invest in community development projects, such as affordable housing, infrastructure improvements, and education programs.
• Local Decision-Making: As mentioned earlier, decisions at community banks are made locally, ensuring that the financial needs of the community are met.

Conclusion

First State Bank of DeQueen is a shining example of a community bank that has stood the test of time. For over a century, the bank has provided its customers with exceptional financial services, supported economic growth, and invested in the well-being of the communities it serves.

By choosing First State Bank of DeQueen, you are not only supporting a local business but also investing in the future of your community. Experience the benefits of community banking firsthand and empower your financial future.

Compare and Contrast: First State Bank of DeQueen vs. National Banks

Call to Action

If you are looking for a financial partner that understands your needs, is committed to the community, and offers exceptional service, look no further than First State Bank of DeQueen. Visit their website or stop by a branch today to learn more about their products and services and experience the power of community banking.

Additional Information

First State Bank of DeQueen
214 West Main Street
DeQueen, AR 71832
(870) 584-3195
www.fsbdequeen.com

Tables:

Table 1: Financial Performance as of June 30, 2023

Table 2: Common Mistakes to Avoid When Choosing a Bank

Table 3: Benefits of Community Banking