Arkansas TARP Banks Post a Range Of Results

by George Waldon  on Monday, Jan. 7, 2013 12:00 am  

Six Arkansas lenders remain as participants in the U.S. Treasury’s Capital Purchase Program-Troubled Asset Relief Program. Half are current on their quarterly payments to Uncle Sam.

Not surprisingly, the three banks associated with missed payments are running in the red.

CPP-TARP* Lenders in Arkansas

Government-Supplied CapitalMissed Quarterly PaymentsNon-Current Payments Total
Rogers Bancshares, Little Rock $25,000,000 11 $3,746,875
Chambers Bancshares, Danville $19,817,000 0 $0
OneFinancial Corp., Little Rock $17,300,000 1 $351,000
White River Bancshares, Fayetteville $16,800,000 6 $1,373,400
Fayetteville      
Community First Bancshares, Harrison $12,725,000 0 $0
Riverside Bancshares, Little Rock $1,100,000 0 $0

*Capital Purchase Program-Troubled Asset Relief Program. Source: U.S. Treasury.

Metropolitan National Bank of Little Rock posted a $1.2 million loss in the third quarter that pushed its combined nine-month loss for the year to $2.7 million.

The bank is carrying $88.7 million of property recovered from bad loans, aka Other Real Estate Owned. That OREO total is down from $94 million on June 30 and down from $108 million on Dec. 31.

Metropolitan’s equity capital stands at $64.8 million. Helping stabilize the bank’s capital is $25 million that its holding company, Rogers Bancshares Inc., received through the TARP program.

Rogers Bancshares has missed 11 quarterly payments on the government-supplied capital, which total more than $3.7 million as of June 30.

Signature Bank of Fayetteville recorded a $4.7 million loss for the nine months ending Sept. 30. However, the bank did generate a modest profit of $420,000 during the third quarter.

Signature’s equity capital is $56.5 million, boosted by $16.8 million in TARP funds that flowed through its parent company, White River Bancshares Co.

White River has missed six quarterly TARP payments that total nearly $1.4 million as of June 30.

OneFinancial Corp., the holding company for Little Rock’s One Bank & Trust, is a newcomer to the list of TARP-delinquent institutions. OneFinancial, which received $17.3 million, has missed only one quarterly payment of $351,000 as of June 30.

One Bank’s balance sheet took a serious blow in the third quarter when $10.6 million was sliced out of its equity capital — a 28 percent reduction in capital for the $454 million-asset bank.

 

 

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