Highlights From Wallace Fowler's Path to Liberty Bank

by George Waldon  on Tuesday, Jun. 25, 2013 12:13 pm  

Wallace Fowler (Photo by Graycen Colbert)

1995: First Bank of Arkansas becomes the largest bank operation in Jonesboro, surpassing Union Planters.

May 1997: Southwest Bancshares sells to Little Rock's First Commercial Corp. in a $127 million stock swap, 2.25 times book value. The transaction makes Fowler's family, which owns 38 percent of Southwest Bancshares, the third largest shareholder in First Commercial.

July 1998: First Commercial sells in a $3 billion stock swap to Regions Financial Corp. of BirminghamAla. Fowler's First Commercial shares are worth about $90 million.

September 2000: Fowler begins early legwork to buy a bank and return to the Jonesboro market. This effort would culminate in Liberty Bancshares.



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