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State of the State 2024: Arkansas banks navigate uncertain interest rate landscape – Talk Business & Politics

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State of the State 2024: Arkansas banks navigate uncertain interest rate landscape – Talk Business & Politics


Editor’s note: The State of the State series provides reports twice a year on Arkansas’ key economic sectors. The series publishes stories to begin a year and stories in July/August to provide a broad mid-year update on the state’s economy. Link here for the State of the State page and previous stories.

According to the state’s top banking official, the uncertain interest rate environment is the most significant conversation topic entering the year.

“The rate environment is posing headwinds for many institutions, but tailwinds for others,” said Susannah Marshall, Arkansas State Bank Department commissioner. “Especially those that have structured their balance sheets to be in an asset sensitive position and to take advantage of repricing assets at higher interest rates.”

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Marshall said banks with strong mortgage divisions bore the brunt of the interest rate volatility in 2023 and will remain impacted until a downward movement emerges.

“I don’t want to attempt to predict what will happen with interest rates in 2024 or the timeframe of any potential rate decreases,” she said. “Regardless of whether we will see any additional increases or rates remain flat for the foreseeable future, I believe any potential declines could be further out in 2024.”

Marshall and other Arkansas banking leaders offered various thoughts on the industry entering 2024. According to the latest data from the Federal Deposit Insurance Corp. (FDIC), 82 federally insured lenders doing business in Arkansas had a cumulative net income of $1.49 billion through the third quarter of 2023, up 4.1% from the previous year. The banks grew their combined assets robustly to $165.6 billion, up 7.3% year-over-year. Loan growth was even stronger at 13.8%. Construction loans accounted for a third of that growth, reflecting the vibrant economy.

Tim Yeager expects banks to remain strong — Arkansas’ average return on assets (ROA) of 1.23% is well above the benchmark ratio of 1% — but they are unlikely to match their 2023 performance.

“The lagged effect from high interest rates will lead to slower loan growth, an increase in problem loans, and a shortage of core [stable] deposits,” said Yeager, a finance professor who holds the Arkansas Bankers Association Chair in Banking at the University of Arkansas. His responsibilities include teaching, research and outreach to Arkansas bankers. “Loan demand will slow as businesses and consumers adjust to higher interest rates. In addition, borrowers will struggle to repay the higher interest payments on their debts, leading to more problem loans.”

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Like many analysts, Yeager said he expects the Federal Reserve to lower interest rates in the coming months, which will somewhat reduce the pressure on loan demand and funding costs. He said Arkansas bankers are most concerned about a longer-term issue: the ability to hire and maintain qualified workers. He noted that many top students in finance want careers in investment banking, primarily because they think they can make more money on Wall Street.

That might be true, but he tries to explain that there are other advantages of working for a bank.

“We need to get the message across that this is a soul-fulfilling career,” Yeager said. “You’re going to do well, but will you be a millionaire or a billionaire? It’s less likely. But you will have a much more balanced, satisfactory life by doing this.”

According to the American Bankers Association, Arkansas banks employ around 16,000 people at over 1,000 offices and branch locations and have around 5 million customers.

‘ARTIFICIAL’ ECONOMY
Simmons First National Corp. (Simmons Bank) of Pine Bluff is one of the state’s largest banks, with $27.5 billion in assets. It’s one of four Arkansas-based lenders with assets greater than $21 billion at the end of last year’s third quarter. Bank OZK of Little Rock ($32.7 billion), Arvest Bank of Fayetteville ($27.3 billion) and Centennial Bank of Conway ($21.8 billion) were the others.

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George Makris Jr. is the bank’s president and CEO. He said that after a decade marked by growth through acquisition, Simmons Bank is focused on organic growth and efficiency in 2024.

“We acquired 13 banks [in five states] in the past 10 years, which has given us access to some of the best markets,” he said. “We are improving our delivery channels and standardizing many internal functions. That combination should produce favorable financial results leading to capital growth and additional capacity to offer to our customers.”

Makris said the uncertainty around interest rates coupled with government spending and its upward pressure on inflation makes for an “artificial” economy, and that environment will trickle down to consumers.

“Banks are in the risk management business and will shift as much of the risk to the borrower as possible under uncertain times, which will restrict credit access,” he said. “That is more severe for the least credit-worthy borrowers. Loan funding costs and the cost of capital are also negative drivers of access to credit. That said, access to credit is still there for solid projects. Speculative projects will sit on the sidelines.”

Makris joked that his crystal ball has a crack in it, but he predicted that if inflation remains steady for the first half of the year – the current U.S. inflation rate is 3.4% for the 12-month period leading up to December 2023, according to the Bureau of Labor Statistics – a modest rate reduction could come in late 2024.

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“However, this is an election year, and whether we like it or not, politics plays a role in many governmental decisions,” he said.

Makris also offered an opinion on artificial intelligence (AI) in banking.

“Banks are certainly aware of the proliferation of AI discussion,” he said. “That has driven much of the buzz for tech stocks. However, I believe we need to be very cautious and deliberate in advancing AI. It will be used for nefarious purposes well before we have maturity and risk protocols to mitigate bad actors.

“The other element not discussed much is who is teaching AI to deploy its logic. Banks have been using variations of AI to determine probability, relationships and other integrated data sets.”

Marshall also alluded to the increasing threat landscape regarding cyber risks and their impact on the industry.

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“This increasing risk also translates into increased costs and pressure on resources,” she said. “Unfortunately, many comments I have received lately center around bankers’ concerns about the increases in fraud attacks on their customers and the impact it is having on the industry.”



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How to watch Georgia softball at Arkansas series, streaming and more

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How to watch Georgia softball at Arkansas series, streaming and more


No. 15 Georgia softball (18-5) opens conference play on the road in Fayetteville, Ark., on Friday, March 6, against the No. 7 Razorbacks (19-1).

The Friday game has been moved up to 3 p.m. from 7 p.m. due to weather expected in the area.

The last time Georgia faced Arkansas was in the 2025 SEC Tournament. The Razorbacks defeated the Bulldogs, 5-1, on a walk-off grand slam in the bottom of the seventh inning in the second round.

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Georgia is coming into conference play with an 18-5 record, while Arkansas only has one loss to Virginia from Feb. 7. The Razorbacks are on a 17-game winning streak with 12 of those games ending in mercy-rulings.

Here’s what you need to know about the Georgia-Arkansas weekend series to open 2026 SEC play:

What channel is Georgia softball at Arkansas?

Georgia’s weekend series at Arkansas will be streamed through the SEC Network+. Fans looking to stream the games can go to the ESPN app. An ESPN select subscription totals $12.99 monthly or $129.00 annually, while an ESPN unlimited subscription totals $29.99 monthly or $299.99 annually.

There is no other way to tune into these games, as the university is not streaming the game audio on their radiocast.

Georgia softball start times at Arkansas

Georgia has a three-game weekend series at Arkansas, with later than normal first pitches due to being in Central Time:

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Date Time (ET)
Friday, March 6 3 p.m.
Saturday, March 7 6 p.m.
Sunday, March 8 2 p.m.

Georgia vs Arkansas softball history

  • Series record: Georgia leads, 41-26
  • Georgia’s last win: March 31, 2024; 8-2
  • Arkansas’ last win: May 7, 2025; 5-1

Georgia softball score updates at Arkansas

This section will be updated throughout the series.

Game 1

TEAM 1ST 2ND 3RD 4TH 5TH 6TH 7TH FINAL
Arkansas
Georgia

Game 2

TEAM 1ST 2ND 3RD 4TH 5TH 6TH 7TH FINAL
Arkansas
Georgia

Game 3

TEAM 1ST 2ND 3RD 4TH 5TH 6TH 7TH FINAL
Arkansas
Georgia

Georgia softball 2026 schedule

Record: 18-5 overall

  • SEC competition*
  • Red & Black Showcase^
  • Shriners Children’s Clearwater Invitational#
  • Georgia Classic/
  • Bulldog Classic//
Date & Time Opponent Location Result
Feb. 6 @ 3:30 p.m. Missouri State^ Athens W, 10-1 (5 inn.)
Feb. 6 @ 6 p.m. Fordham^ Athens W, 7-1
Feb. 7 @ 1 p.m. Fordham^ Athens W, 5-1
Feb. 7 @ 3:30 p.m. Belmont^ Athens W, 12-0 (5 inn.)
Feb. 8 @ 1 p.m. Belmont^ Athens L, 1-2
Feb. 12 @ 11 a.m. Oklahoma State# Clearwater, Fla. L, 5-6
Feb. 12 @ 4 p.m. Nebraska# Clearwater, Fla. W, 6-5
Feb. 13 @ 9 a.m. NC State# Clearwater, Fla. W, 16-2 (5 inn.)
Feb. 13 @ 1 p.m. UCF# Clearwater, Fla. W, 13-5 (5 inn.)
Feb. 14 @ 1 p.m. Northwestern# Clearwater, Fla. W, 8-3
Feb. 14 @ 4 p.m. Duke# Clearwater, Fla. W, 9-1 (5 inn.)
Feb. 18 @ 4 p.m. Samford Athens W, 13-8
Feb. 20 @ 3:30 p.m. Seton Hall/ Athens W, 9-1 (5 inn.)
Feb. 20 @ 6 p.m. Utah State/ Athens W, 4-1
Feb. 21 @ 3:30 p.m. Virginia Tech/ Athens L, 3-9
Feb. 21 @ 6 p.m. Utah State/ Athens W, 11-2 (5 inn.)
Feb. 22 @ 1 p.m. Virginia Tech/ Athens L, 3-9
Feb. 25 @ 6 p.m. Clemson Athens L, 1-10 (6 inn.)
Feb. 27 @ 6 p.m. South Alabama// Athens W, 8-0 (5 inn.)
Feb. 28 @ 1 p.m. South Alabama// Athens W, 9-0 (5 inn.)
Feb. 28 @ 3:30 p.m. UNC-Wilmington// Athens W, 9-1 (5 inn.)
March 1 @ 1 p.m. UNC-Wilmington// Athens W, 9-1 (5 inn.)
March 4 @ 6 p.m. Georgia State Athens W, 9-1 (5 inn.)
March 6 @ 3 p.m. Arkansas* Fayetteville, Ark.
March 7 @ 6 p.m. Arkansas* Fayetteville, Ark.
March 8 @ 2 p.m. Arkansas* Fayetteville, Ark.
March 10 @ 6 p.m. West Georgia Athens
March 18 @ 6 p.m. Georgia Tech Athens
March 20 @ 6 p.m. Mississippi State* Athens
March 21 @ 2 p.m. Mississippi State* Athens
March 22 @ 2 p.m. Mississippi State* Athens
March 25 @ 6 p.m. Mercer Athens
March 27 @ TBD Kentucky* Lexington, Ky.
March 28 @ TBD Kentucky* Lexington, Ky.
March 29 @ TBD Kentucky* Lexington, Ky.
April 2 @ TBD Texas A&M* College Station, Texas
April 3 @ TBD Texas A&M* College Station, Texas
April 4 @ TBD Texas A&M* College Station, Texas
April 8 @ 6 p.m. USC-Upstate Athens
April 10 @ 6 p.m. Missouri* Athens
April 11 @ 2 p.m. Missouri* Athens
April 12 @ 2 p.m. Missouri* Athens
April 15 @ 6 p.m. Kennesaw State Kennesaw, Ga.
April 18 @ 4 p.m. Texas* Athens
April 19 @ Noon Texas* Athens
April 20 @ 7 p.m. Texas* Athens
April 22 @ 6 p.m. Georgia Southern Athens
April 24 @ TBD Oklahoma* Norman, Okla.
April 25 @ TBD Oklahoma* Norman, Okla.
April 26 @ TBD Oklahoma* Norman, Okla.
April 30 @ 6 p.m. Florida* Athens
May 1 @ 6 p.m. Florida* Athens
May 2 @ Noon Florida* Athens
May 5-9 SEC Tournament Lexington, Ky.
May 15-17 NCAA Regional Campus sites
May 21-24 NCAA Super Regional Campus sites
May 28-June 5 Women’s College World Series Oklahoma City, Okla.



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Report Assesses Access to Primary Care in Arkansas – ACHI

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Report Assesses Access to Primary Care in Arkansas – ACHI


Arkansas has made significant investments to strengthen its primary care physician workforce over the past decade. New medical schools have opened in the state, residency program slots have increased, and loan forgiveness programs have been established to incentivize residency graduates to remain in the state to practice. Despite these efforts, access to a usual source of care (i.e., a place where one goes for routine healthcare needs) remains a challenge for many Arkansans, according to a new report.

Published February 12 by the Milbank Memorial Fund, the report, “Investing in Primary Care: The Missing Strategy in America’s Fight Against Chronic Disease,” evaluates states’ primary care performance. Among its findings is that 18% of Arkansas adults report not having a usual source of care, which is comparable to the national estimate of 17%. That means that nearly 1 in 5 Arkansans do not have a consistent way of interacting with the state’s healthcare system.

Access to a Usual Source of Care

Nationwide, the report finds that among adults with chronic disease, having a usual source of care is associated with lower odds of hospitalization and lower total spending on health care. These findings are particularly relevant for Arkansas, where chronic disease prevalence remains high. The most recent America’s Health Rankings report from the United Health Foundation ranked Arkansas 44th among all 50 states and the District Columbia for its percentage (15%) of adults with three or more chronic conditions — such as arthritis, diabetes, or cancer — in 2023, with the top-ranked state having the lowest percentage.

The Arkansas Primary Care Payment Improvement Working Group, established under Act 483 of 2025, is currently examining primary care investment in the state. The group, which includes a representative from ACHI, is tasked with measuring current primary care spending, evaluating the adequacy of the primary care delivery system, and recommending spending targets for Medicaid and commercial insurers. These efforts align with national recommendations to track and increase primary care investment, an issue we highlighted in a previous post.

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Arkansas’s Primary Care Workforce

The country’s primary care workforce supply is another focus of the Milbank report. The report estimates that Arkansas had 58 primary care physicians per 100,000 residents in 2023, below the national average of 68 per 100,000 residents. The Milbank report also finds that 29% of Arkansas physicians were working in primary care in 2023, compared to 27% nationally.

The state’s higher-than-average share of physicians choosing primary care is encouraging, but long-term retention and geographic distribution remain challenges. ACHI developed the Arkansas Primary Care Physician Workforce Dashboard, an interactive tool that allows users to view data on primary care physicians practicing in Arkansas. The dashboard — which uses a broader definition of “primary care physician” than the Milbank report’s — shows that per capita rates of primary care physicians vary widely between urban and rural counties, and that two counties, Montgomery and Newton, had no active full-time primary care physician in 2022. The dashboard also shows that 26% of fill-time primary care physicians in the state were 60 or older in 2022, raising concerns about future supply as many approach retirement.

The Milbank report finds that in communities with higher levels of social deprivation — measured by the social deprivation index, a composite indicator of socioeconomic hardship — primary care physician availability in Arkansas is lower on average than in similarly deprived communities nationwide. Given the high burden of chronic disease among Arkansans, this is a concerning finding.

Recommendations

States that invest in primary care, as highlighted in the Milbank report, experience downstream improvements in population health and lower healthcare costs. Arkansas has established the infrastructure to evaluate and potentially increase those investments. ACHI will continue to track physician supply, distribution, and access to help inform primary care policy discussions.

Find more information about Arkansas’s healthcare workforce on our topic page.

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Arkansas to honor Nolan Richardson with statue outside arena

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Arkansas to honor Nolan Richardson with statue outside arena


Former Arkansas coach Nolan Richardson, who led the Razorbacks to the 1994 national title, will be immortalized with a statue outside Bud Walton Arena, the school said Wednesday.

Richardson was on the court at halftime of No. 20 Arkansas’ 105-85 win over Texas in the team’s regular-season home finale Wednesday night when athletic director Hunter Yurachek surprised him and told him the school had commissioned a statue to commemorate his achievements.

Per the school’s announcement, work on the statue is set to begin soon.

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“Coach Richardson’s impact on the game of basketball and our state is immeasurable,” Yurachek said in a statement. “He represented Arkansas with a toughness and intense work ethic that endeared him to our fans while changing the lives of numerous athletes, coaches and staff under his direction. His ’40 minutes of Hell’ changed college basketball and led to the 1994 national championship that changed Arkansas and our university forever. Coach Richardson will stand tall outside the arena for the rest of time.”

Richardson coined the phrase “40 Minutes of Hell” in reference to the ferocious, full-court defense his Arkansas teams played during his tenure (1985-2002). Between Arkansas and his first Division I job at Tulsa, Richardson amassed 508 wins (389 with the Razorbacks), reached the Final Four three times and secured Arkansas’ only national title.

Richardson also was a member of the Texas Western (now UTEP) teams that preceded the school’s victory over Kentucky in 1966, when five Black players started an NCAA championship game for the first time and won. That game paved the way for Black players to compete at schools that had previously rejected them.

Richardson, one of six SEC coaches to win a national title since 1990, was inducted into the Basketball Hall of Fame in 2014.

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After Wednesday’s game, current Arkansas coach John Calipari joked that he’s contractually obligated to clean the statue once it’s finished.

“Which I will do in a pleasant way because I love it,” he said. “He’s been so good to me since I’ve been here.”

Richardson and Arkansas were not on good terms when they divorced in 2002. But the two sides have repaired the relationship over the years. The university renamed the floor at Bud Walton Arena “Nolan Richardson Court” in 2019. Richardson praised Calipari’s hiring in 2024 after he left Kentucky, and he has been around the program since Calipari’s arrival.

“He should have been had a statue, I think,” said Trevon Brazile, who finished with 28 points on his senior night Wednesday. “They won the national championship.”

Added Darius Acuff Jr., who finished with 28 points and 13 assists against the Longhorns: “It’s great to see that for sure. Coach Richardson is a big part of our team. He’s been to a couple of our practices, so it’s always good to see [him]. He’s a legend.”

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