Banks at a glance
- Population: 81 residents, the 471st-largest of 500 places in Arkansas (US Census Bureau, Vintage 2023).
- 2020 Census base: 84 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a decline of roughly 3.6% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Arkansas places: 471st-largest of 500 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 6% of Arkansas's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 33.5758, -92.2671 in the US Census Bureau Gazetteer.
- Nearest larger cities: Harrell, AR (9 mi); Hermitage, AR (10 mi); Warren, AR (12 mi); Hampton, AR (12 mi); Thornton, AR (19 mi); US Census Bureau population estimates.
- Nearest smaller places: Tinsman, AR (6 mi); Whelen Springs, AR (52 mi); Cale, AR (56 mi) (US Census Bureau estimates).
What a personal loan costs in Banks
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Arkansas lending rules that apply in Banks
Each row below is a Arkansas rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
How to compare offers in Banks
Before you commit to a personal loan in Banks, work through these steps:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.