Banking & Finance Archive

Dennis Smiley Lawsuits Settling Down

by Arkansas Business Staff 7/27/2015 12:00 am

While Dennis Smiley Jr. awaits indictment or a plea deal on criminal charges, civil litigation continues in an effort to recoup losses from his financial wheeling and dealing.

Bank Office Numbers in the U.S. Outpace Population

by Arkansas Business Staff 7/27/2015 12:00 am

Despite the increased use of online and mobile banking, brick-and-mortar offices retain their dominance in the provision of banking services, at least for FDIC-insured institutions.

Community Banks Feel Regulatory Pinch

by Marty Cook 7/27/2015 12:00 am

The Dodd-Frank Act celebrated its fifth anniversary last week, but it's probably safe to assume many community bankers in Arkansas didn't feel like partying.

Simmons First National Ramps Up Growth Via Acquisition

by George Waldon 7/27/2015 12:00 am

Simmons First National Corp. covered some serious ground among growth-minded Arkansas lenders on the acquisition trail. Tandem out-of-state, stock-swap purchases during the first quarter increased the size of the Pine Bluff bank holding company by a whopping 65 percent.

A Depressing Motivator (Gwen Moritz Editor's Note)

by Gwen Moritz 7/27/2015 12:00 am

Chances are students aren't being taught good economics principles at home. Their parents very likely don't understand money — and this is true even of parents who have adequate income. If parents don't budget, don't plan, don't prioritize, then children don't even know that they should — much less how to do it. Many families never discuss money with their children, even though money is a factor in virtually every facet of family life and the root of much household stress.

Judge Orders Liquidation of Allied Bank Parent Company

by George Waldon 7/24/2015 11:06 am

U.S. Bankruptcy Court Judge Ben Barry orders the liquidation of Acme Holding Co., the parent company of Allied Bank of Mulberry.

Simmons First 2Q Net Income Up 102 Percent

by Lance Turner 7/23/2015 08:50 am

Simmons First National Corp. of Pine Bluff reports second-quarter net income of $20 million, up 102 percent from $9.9 million in the same quarter last year. During the quarter, the company made its third acquisition in Springfield, Missouri.

Senate GOP Adds Dodd-Frank Rewrite to $21B Funding Bill

by Associated Press 7/22/2015 11:30 am

Senate Republicans are trying to use a must-do spending bill to advance legislation significantly rewriting landmark 2010 legislation that tightened regulation of the financial services industry.

Update: Little Rock Board Votes on Next Steps for Tech Park

by Lance Turner 7/22/2015 10:27 am

The Little Rock Board of Directors voted Tuesday to provide $6.6 million in sales tax proceeds to the Little Rock Tech Park so it can purchase properties along Main Street for its permanent home.

Kavanaugh Branch Kicks Off Allied's Auction Run

by Mark Carter 7/21/2015 10:29 am

The Allied Bank branch at the intersection Kavanaugh and Cantrell in Little Rock's Heights neighborhood took to the auction block Tuesday morning, leading off a four-day run by Blackmon Auctions of Little Rock.

Six Arkansas Banks Expand Their State Network

by George Waldon 7/20/2015 12:00 am

Six lenders made moves to grow their Arkansas branch network during the first half of 2015. Little Rock's Bank of the Ozarks and Citizens Bank of Batesville were the most active with three new projects each.

Allied OREO Auction To Include Bank Branches

by George Waldon 7/20/2015 12:00 am

The balance sheet of Mulberry's Allied Bank is positioned to undergo a third-quarter makeover after a July 21-24 real estate auction. The $107 million-asset lender intends to liquidate a chunk of its OREO portfolio during the four-day event.

Winrock Place Purchase Approaches $2.9 Million (Real Deals)

by George Waldon 7/20/2015 12:00 am

The sale of a 24,817-SF office building in Little Rock's Riverdale area tipped the scales at $2.87 million. A 7,847-SF office building in west Little Rock is under new ownership after a $1 million sale. And a 10,043-SF warehouse and land in North Little Rock changed hands in an $805,000 transaction.

Arkansas Business to Honor 2015 Best Places to Work at Sept. 16 Luncheon

by Arkansas Business Staff 7/16/2015 11:33 am

Arkansas Business will honor its 2015 Best Places to Work in Arkansas at an awards luncheon Wednesday, Sept. 16.

Home BancShares' 2Q Profit Up 19 Percent

by Lance Turner 7/16/2015 08:26 am

Home BancShares Inc. of Conway reports record quarterly profit of $33.9 million, or 50 cents per share, up 19 percent from the same quarter last year.

Beige Book Finds Economic Growth in All Regions of Country

by Associated Press 7/15/2015 02:26 pm

The U.S. economy was expanding in all regions of the country in the late spring, aided by strong sales of autos and other consumer goods.

Judge OKs Plan for Craighead County Fair Association to Liquidate

by Associated Press 7/15/2015 10:41 am

A judge has approved a plan that requires the Craighead County Fair Association to liquidate remaining properties at old and new fairgrounds.

Bank of the Ozarks' 2Q Profit Up 69 Percent

by George Waldon 7/14/2015 09:52 am

Net income at Little Rock's Bank of the Ozarks Inc. rose 69.1 percent to $44.8 million during the second quarter. The company reported net income of $26.5 million for the same period a year ago.

Bank Name Bingo (Gwen Moritz Editor's Note)

by Gwen Moritz 7/13/2015 12:00 am

Consolidation came first, but it was really the financial crisis of 2008 — or, more specifically, the expensive regulatory fallout of the crisis — that created a rush to rename banks. In the current environment, banks have to either acquire or be acquired. And banks that want to be acquirers need names that aren't too geographically specific.

Overtime Rule Big Change for Business (Missy Duke Commentary)

by Missy Duke 7/13/2015 12:00 am

On June 30, the U.S. Department of Labor released a proposed rule that would increase the minimum salary for employees exempt under the “white-collar” exemptions of the Fair Labor Standards Act to $970 per week, the equivalent of $50,440 annually, which represents the 40th percentile of earnings for all full-time salaried workers throughout the United States.