Despite Troubles, Family Carries On Peterson Legacy

by Serenah McKay  on Monday, Jun. 25, 2012 12:00 am  

Although Mathias intends to operate the banks as separate entities, Larry Olson will serve as president and CEO of both. He's held those posts with FSB since October 2010.

The Huntsville bank has assets of $81.9 million.

Changing Times

Change is "not necessarily a bad thing," Blake Evans told Arkansas Business when he was named to its 2007 Forty Under 40 class. (He was in the Northwest Arkansas Business Journal's Forty Under 40 the previous year.)

That outlook has no doubt helped him through the many changes his family has experienced in the last few years, and as they regroup and look to the future.

Peterson Holding Co.'s Grand Savings Bank, with assets of $238.4 million, reported net income of $1.96 million in 2011 and $953,000 in the first quarter of 2012. Its equity capital stood at $22.2 million on March 31.

L&L Farms had nearly 7,000 acres at the time of the Simmons sale, which included about 300 acres. Evans said L&L has sold more land in the past year and now has about 5,000 acres. He declined to say how many cattle it has.

The home in Pinnacle Country Club that Evans and his wife, Kim, bought last October for $735,000 was put back on the market in May. The 5,569-SF home, built in 2006, is listed at $889,900.

Other family real estate up for sale includes the Crystal Lake Airport, on 163 acres with three homes. It's listed at $1.2 million.

Debra Evans owns a home near her son's, according to Benton County tax records, but it's not on the market. The realty website shows the home last sold in July 2010 for $800,000.

Arkansas Secretary of State records show Blake Evans is the registered agent for BB Wings of Fayetteville LLC, formed in 2005; BB Wings LLC, formed in 2004; and BBE LLC, formed in 2001. Evans said these are personal LLCs for investments and have no employees.

His sister, Brooke Evans Mountain, lives with her husband in New York City, where she studied fashion design at the famed Parsons School of Design.

Evans says he has "plenty of contact" with his dad, who lives in Florida. Vic Evans' LinkedIn profile describes him as an independent financial services professional in the West Palm Beach area. The only work experience he lists is 13 years as chairman of the board at ANB Financial.

(For a timeline illustrating the evolution of Peterson Farms, click here.)



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