$103 Million Profit at Bank of the Ozarks Ranks as Largest Among Arkansas-Based Lenders in 2011

by George Waldon  on Monday, Mar. 26, 2012 12:00 am  

The 2011 performance among lenders headquartered in Arkansas ranged from a $103 million profit at Little Rock's Bank of the Ozarks to a loss of nearly $12.7 million at Decatur State Bank (Benton County).

Rounding out the five banks producing the biggest 2011 profits were First Security Bank of Searcy, $87.8 million; Arvest Bank of Fayetteville, $82.6 million; Centennial Bank of Conway, $57.8 million; and First Financial Bank of El Dorado, $23.6 million.

Setting the stage for Decatur State Bank's year-end red ink was the Federal Deposit Insurance Corp. issuing a consent order against the bank on Nov. 18.

The bank was among a baker's dozen of Arkansas financial institutions that posted negative earnings for the year.

That list includes: First Federal Bank of Harrison, -$7.3 million; Chambers Bank of Danville, -$5.5 million; Metropolitan National Bank of Little Rock, -$4.8 million; Hot Springs Bank & Trust, -$2.3 million; Twin Lakes Community Bank of Flippin (Marion County), -$2.1 million; Allied Bank of Mulberry (Crawford County), -$1.6 million; Benefit Bank of Fort Smith, -$1.3 million; North Little Rock's National Bank of Arkansas, -$532,000; Farmers Bank of Hamburg (Ashley County), -$293,000; Forrest City Bank, -$162,000; Ozark Heritage Bank of Mountain View, $-145,000; and Little River Bank of Lepanto (Poinsett County), -$56,000.

 

The Other Rogers Bank

When it comes to banking, Doyle Rogers is most known for his controlling ownership of Metropolitan National Bank.

But it wasn't just a proud hometown nod of recognition that resulted in the declaration of March 6 as Doyle Rogers Day in Batesville.

The Rogers family has maintained a home there for more than half a century, and Batesville provided the launching pad for the 93-year-old businessman's legendary career.

Rogers and his family also hold a 26 percent stake in Citizens Bancshares of Batesville Inc. The corporation is the holding company of the $538.1 million-asset Citizens Bank of Batesville.

Doyle Rogers, who owns 15 percent of Citizens Bancshares, has served as a director at the bank for more than 30 years. His wife, Josephine, owns nearly 7.2 percent of the bank holding company.

Their son, Doyle "Rog" Rogers Jr., also is a member of the Citizens Bank board of directors. He owns nearly 3.9 percent of Citizens Bancshares.

Based on a muliplier of 1.5 times book value, the combined Rogers family holdings in Citizens are worth about $21.8 million.

Other large blocks of holding company stock are controlled by Southerland Family Ltd., 31 percent; and Opal Moody Family Ltd., led by Wilsene Moody, 13 percent.

The Southerland stake is worth about $26 million, and the Moody holdings are worth about $10.8 million.

Several partners in Southerland serve on the bank board, including Paula Terrell, Jay Shell and Virginia Henry.

The bank distributed nearly $2.2 million in dividends among its shareholders during 2011.

 

 

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