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First Arkansas Bank Wins $14.5M Default Judgment Against John Rogers

2 min read

First Arkansas Bank & Trust of Jacksonville landed a $14.5 million default judgment Friday morning against fallen sports memorabilia and photo mogul John Rogers.

The judgment in Pulaski County Circuit Court is tied to four loans from the bank to various business ventures that were guaranteed personally by Rogers, who faces a roster of civil litigation and the possibility of criminal charges related to a federal probe into his business dealings.

According to testimony during the 20-minute hearing and evidence submitted, the North Little Rock businessman’s delinquent debt totals nearly $14.6 million and encompasses:

Nearly $7.3 million owed on a $7.1 million revolving line of credit established Dec. 19, 2011. No payments have been made since a regular payment of $57,000 was missed on May 19.

Nearly $2.5 million owed on a $2.9 million loan made on Dec. 19, 2011. No payments have been made since a regular payment of $32,000 was missed on May 19.

More than $1.4 million owed on a $1.5 million loan made June 22, 2012. No payments have been made since a regular payment of $15,900 was missed on May 19.

More than $3.2 million owed on a $3.5 million loan made April 3, 2013. No payments have been made since a regular payment of $19,000 was missed on June 15.

(Previously: Claims pass $18 million as Rogers’ dealings draw more lawsuits.)

Rogers didn’t appear at the hearing, but his attorney, Brett Myers of Dallas, did. Myers noted that his client had brought “certain deals” to the bank, and that “we wouldn’t be here today” if those deals would have happened. 

“It’s important for the court to know that,” Myers said.

Judge Tim Fox thanked Myers before making his ruling in favor of First Arkansas.

Myers didn’t elaborate on what the would-be deals were or why the bank had issues with the proposals.

First Arkansas sued Rogers on Sept. 5. It began doing business with Rogers in December 2011, when it issued him a revolving line of credit and a loan totaling $10 million.

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