Peterson Farms Timeline

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

1939
Lloyd Peterson starts Peterson Produce & Hatchery Co.

1951
The company's name is changed to Peterson Farms Inc.

1954
Peterson charters Decatur State Bank.

1959
Peterson Farms begins overseas sales and operations.

1967
Peterson founds L&L Farms Inc., a cattle breeding operation.

1981
Grand Savings & Loan Association is established in Jay, Okla., by Peterson Holding Co., the holding company that also owns Decatur State Bank.

1986
Headquarters of renamed Grand Federal Savings Bank is moved to Grove, Okla.


1994
Arkansas National Bank is chartered in Bentonville. Peterson's daughter, Debra Evans, her husband, Vic, and son, Blake, are early investors and major shareholders.

2001
Grand Federal Savings Bank is converted from a thrift charter to a commercial bank and renamed Grand Savings Bank.

2002
Arkansas Business ranks Peterson Farms as the state's 39th-largest private company, with estimated revenue of $150 million.

2004
Lloyd Peterson appoints Blake Evans as CEO of Peterson Farms.

2005
Arkansas National Bank renamed ANB Financial

2007
Lloyd Peterson dies at 94. Peterson Farms is ranked No. 51  among Arkansas private companies, with estimated revenue of $128 million.
2008
In May, the Federal Deposit Insurance Corp. closes ANB Financial, of which Evans family members owned about 30 percent. In July, Peterson Farms sells its broiler operations to Simmons Foods Inc. for an undisclosed amount. Simmons' revenue jumps from $652 million in 2007 to $780 million in 2008 to $889 million in 2009, and Peterson Farms drops off Arkansas Business' list of the state's largest private companies.

2011
Decatur State Bank, owned by Peterson Holding Co., loses nearly $12.7 million, and enters into a consent agreement with the FDIC to reserve an additional $6.13 million for possible loan losses and to shore up its capital.

2012
Mathias Bancshares Inc. of Springdale reaches an agreement with Peterson Holding Co. to buy Decatur State Bank. The deal doesn't include Peterson Holding's 100 percent stake in Grand Savings Bank, a profitable $238 million-asset concern with two full-service locations in Grove and Jay, Okla.

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