Bidder Proposes $74.2 Million in New Capital for Metropolitan National Bank

by Gwen Moritz  on Tuesday, Jul. 30, 2013 3:54 pm  

A brief filed Thursday by bankruptcy attorneys for Rogers Bancshares Inc. says the Ford fund proposes "a $74.2 million equity contribution to the bank" -- that's an addition to the $16 million it has offered for 100 percent of Rogers' Metropolitan National Bank stock. (Mauren Kennedy)

Ford Financial Fund II of Dallas plans to invest a bit more than $90 million if it wins its bid to buy Metropolitan National Bank of Little Rock from its holding company, Rogers Bancshares Inc., documents filed in bankruptcy court show. Meanwhile, U.S. Bankruptcy Judge James G. Mixon is expected to rule on various motions, including the bidding timetable, on Wednesday.

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