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Signature Bank of Arkansas Review

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Signature Bank of Arkansas Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1933, Signature Bank of Arkansas has $592 million in assets along with deposits totaling $483 million, ranking it as a medium-size bank. Signature Bank of Arkansas, whose headquarters are in Fayetteville, Arkansas, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Signature Bank of Arkansas is a solid pick to be your bank, with a score of 4.2 out of 5 stars from our team. Signature Bank of Arkansas offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Signature Bank of Arkansas has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Signature Bank of Arkansas's most basic checking account does not have a monthly maintenance charge. Banks that offer no-fee checking, in addition to a high interest rate savings account are the best option for gaining the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.5
SmartAsset Average: 3.5

Signature Bank of Arkansas has a savings rate of 0.25%, which is fair as compared against the national average. Signature Bank of Arkansas's one-year and five-year term lengths CDs earn at a rate of 0.70% and 1.40%, respectively, while its highest-yielding money market account has an APY of 0.30%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Signature Bank of Arkansas's Savings Rates Compare

Signature Bank of Arkansas Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Signature Bank of Arkansas charges customers extremely low fees in comparison to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Also, Signature Bank of Arkansas has an overdraft fee of $30.00, which is markedly less than that of other U.S. banks. Signature Bank of Arkansas unfortunately does not reimburse out-of-network ATM charges, which means you will be required to locate a Signature Bank of Arkansas ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

Signature Bank of Arkansas is a brick-and-mortar bank, with six total branches in Arkansas. It also offers access to mobile and web apps for an easy mobile-banking experience. Signature Bank of Arkansas receives fairly high marks from customers for its online presence. The Signature Bank of Arkansas mobile app rates a 4.1 out of 5 (with 11 reviews on iOS and Android) compared to the national average of 3.8. Signature Bank of Arkansas's mobile app lets you manage your accounts by monitoring monthly statements, transferring funds and reaching support representatives. Signature Bank of Arkansas receives an excellent consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.3
SmartAsset Average: 4.8

Signature Bank of Arkansas is a medium-size bank with $592 million in assets as well as deposits totaling $483 million. Signature Bank of Arkansas has a strong Texas Ratio of 15.31%, signifying a small likelihood of failure. Additionally, Signature Bank of Arkansas is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

15.31%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Signature Bank of Arkansas to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.1% APY $850
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.40% APY
$1000 for all terms
Money Market Account 0.3% APY $1

Signature Bank of Arkansas has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Signature Bank of Arkansas does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Signature Bank of Arkansas's CD rates are fair in comparison to the national average.

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Find a Signature Bank of Arkansas Near Me

Signature Bank of Arkansas has six branches across the U.S.

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