Bank of the Ozarks Might Buy Russellville Bank

by Arkansas Business staff  on Monday, Feb. 24, 2003 12:00 am  

We're told to expect a change of ownership at River Valley Bank in Russellville.

Bank of the Ozarks in Little Rock is named as the buyer-to-be of the $51 million-asset concern.

No details yet on terms of the deal, which should be part of a public announcement at some point.

As of Sept. 30, River Valley Bank had tallied a combined profit of about $379,000 during its first five years of operations.

You might recall that the bank lost more than $200,000 on former Arkansas Razorback Elbert Crawford III and his Ace Sports Management.

Crawford, who ended up in bankruptcy court, overused a sports contract with Los Angeles Laker Derick Fisher to rack up more loans than he could repay.

We also understand that James Biggers, chairman, president, CEO and large shareholder, will not remain on staff after the acquisition is completed.

 

 

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