Services

Regular
Checking

  • Minimum balance to open the account – you must deposit $100.00 to open this account.
  • Minimum balance to avoid impositions of fees – A service charge fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.

Business
Checking

This account is not a consumer account to which Truth in Savings applies

  • Minimum balance to open the account – you must deposit $100.00 to open this account.
  • Minimum balance to avoid impositions of fees – A service charge fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $750.00 any day of the cycle.

Money Market
Deposit

  • Rate Information – Your interest rate and annual percentage yield may change.
  • Frequency of Rate Change – We may change the interest rate on your account at any time.
  • Determination of Rate – At our descretion, we can change the interest rate on your account.
  • Compounding and Crediting Frequency – Interest will be compounded every month. Interest will be credited to your account every month.
  • Effect of Closing Account – If you close your account before interest is credited, you will not receive accrued interest.
  • Minimum balance to open account – You must deposit $2500.00 to open this account.
  • Minimum balance to avoid Imposition of fees – A Service charge fee of $10.00 will be imposed every statement cycle if the account falls below $2500.00 any day of the cycle.
  • Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
  • Transaction limitations – Transfers from a Money Market Deposit account to another account or to third parties by preauthorized, automatic, telephone, or computer, transfer by check, draft, or similar order to third parties are limited to six per statement cycle.
  • Fees – An excessive withdrawal fee of $5.00 will be charged for each debit transaction in excess of six during the statement cycle.

Now
Account

  • Rate Information – Your interest rate and annual percentage yield may change.
  • Frequency of Rate Change – We may change the interest rate on your account at any time.
  • Determination of Rate – At our discretion, we can change the interest rate on your account.
  • Compounding and Crediting Frequency – Interest will be compounded every month. Interest will be credited to your account every month.
  • Effect of Closing Account – If you close your account before interest is credited, you will not receive accrued interest.
  • Minimum balance to open account – You must deposit $1000.00 to open this account.
  • Minimum balance to avoid Imposition of fees – A Service charge fee of $8.00 will be imposed every statement cycle if the account falls below $1000.00 any day of the cycle.
  • Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Super Now
Account

  • Rate Information – Your interest rate and annual percentage yield may change.
  • Frequency of Rate Change – We may change the interest rate on your account at any time.
  • Determination of Rate – At our descretion, we can change the interest rate on your account.
  • Compounding and Crediting Frequency – Interest will be compounded every month. Interest will be credited to your account every month.
  • Effect of Closing Account – If you close your account before interest is credited, you will not receive accrued interest.
  • Minimum balance to open account – You must deposit $2500.00 to open this account.
  • Minimum balance to avoid Imposition of fees – A Service charge fee of $10.00 will be imposed every statement cycle if the account falls below $2500.00 any day of the cycle.
  • Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Regular Savings
Account

  • Rate Information – Your interest rate and annual percentage yield may change.
  • Frequency of Rate Change – We may change the interest rate on your account at any time.
  • Determination of Rate – At our descretion, we can change the interest rate on your account.
  • Compounding and Crediting Frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
  • Effect of Closing Account – If you close your account before interest is credited, you will not receive accrued interest.
  • Minimum balance to open account – You must deposit $100.00 to open this account.
  • Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • Accrual of Interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
  • Transaction Limitations – Transfers from a Regular Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to three a quarter.
  • Fees – An excessive withdrawal fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account)in excess of three during a statement cycle.

Online Banking
& Bill Pay

All of your account information is at your fingertips and you can view your balance, transfer funds, make loan payments and more!   Click Here for more information!

Certificates of
Deposits

This FDIC insured product provides you a locked in, guaranteed rate of return on your money for a specified amount of time. Minimum deposit requirements and/or early withdrawal penalties may apply.

IRAs

Retirement savings plan products to help you achieve your long term financial goals. If you earn income, you are eligible to open an IRA. It is one of the easiest ways to save and earn interest for retirement and offers a number of tax advantages. In addition to a regular IRA, the creation of the Roth IRA and the Education IRA now give you a variety of plans to choose. We have the right people to answer questions and help you find the IRA plan or combination of plans to meet your particular personal needs. IRAs are subject to IRS requirements and you should consult with a tax advisor regarding tax advantages. 

Safe Deposit
Box

Store and protect your personal items of value in a safe deposit box. Different sizes are available to fit your particular personal needs. Safe deposit boxes are not subject to FDIC insurance.

Debit
Cards

The Convenience of Checks. Without The Paperwork.

A card that allows you to use your checking account without writing checks.

  • Withdraw cash, transfer funds between accounts, and request balance information at a McGehee Bank 24 hour ATM and most other ATM’s
  • Shop over the telephone or online with your McGehee Bank Debit Card
  • Get a receipt for all transactions and get an easy-to-understand, detailed statement
  • The convenience of plastic without credit charges

Loans

McGehee Bank has a variety of loan programs to meet our customer’s financial needs. Our Consumer, Business, Commercial Real Estate, and Agricultural loans are all approved and processed locally by McGehee Bank’s experienced lending staff.

McGehee Bank’s mortgage department offers several types of home loans with terms up to 30 years. These loan types include:

  • Conventional Home Purchase
  • Home Refinancing
  • Guaranteed Home Purchase
  • Conventional Investment Property Purchase

As a leader of lending in southeast Arkansas, we have an experienced lending staff that can help you explore the loan options we have available. Give us a call or drop by and talk to one of our loan officers. Loans are subject to credit approval. 

Farm
Management

Successful operation of today’s farms is much more than luck. Successful farming is a marriage of operational planning, expert agricultural knowledge, diligent management of capital investments and responsible stewardship of natural resources.

McBank Farm Services, an agricultural management service of McGehee Bank, offers just such services to farm owners. For the absentee farm owner, for estates or for trusts, McBank Farm Service becomes the owner’s representative to provide consistent, professional agricultural management for any size farm, for all crops.

For more than 40 years, McGehee Bank has provided expert financial services to agriculture and to people in southeast Arkansas, including one of the largest trust departments in the area. With this financial expertise and the agricultural experience of our staff, McBank Farm Services offers the farm owner a unique opportunity to deal with people who know southeast Arkansas agriculture best and who have the owner’s best interest at heart.

To find out more, call (870) 222-3151 and ask for McBank Farm Services.