HCB Bancshares Announces Earnings, New Director

by Arkansas Business staff  on Tuesday, Oct. 2, 2001 9:55 am  

HCB Bancshares Inc. of Camden, the holding company of Heartland Community Bank, announced Tuesday an annual income of $620,000 for the year that ended June 30 — down from $786,000 in the previous fiscal year.

Total loans dropped to $132 million, down slightly from $136 million a year earlier, while total deposits grew to $161 million, up from $145 million on June 30, 2000.

HCB also announced the appointment of John G. Rich, a lawyer who lives in New Jersey and practices in New York City, to the board of directors. Rich represents Joseph Stilwell, the New York activist investor who bought 6.9 percent of HCB's stock in June.

Stilwell's track record of forcing small, underperforming companies to improve shareholder value or sell was the subject of an article in the Sept. 24 issue of Arkansas Business.

 

 

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