Banking & Finance Archive

Inside New Overtime Regulations, Traps to Avoid, How to Prepare (Stuart Jackson Commentary)

by Stuart Jackson 5/18/2016 01:22 pm

The U.S. Department of Labor published the final rule updating overtime regulations under the Fair Labor Standards Act. More than 50,000 employees and their employers in Arkansas will be affected. Here's how to prepare.

Arkansas Consumer Sentiment Continues to Climb

by Arkansas Business Staff 5/18/2016 09:36 am

The current consumer sentiment index for Arkansas is 84.9, up from 77.8 in September, according to the spring 2016 Arvest Consumer Sentiment Survey, released Tuesday.

Developer Brandon Woodrome Accused of $6 Million Loan Fraud

by Arkansas Business Staff 5/16/2016 12:00 am

Rioux Capital of Austin, Texas, charges northwest Arkansas developer Brandon Woodrome with committing fraud.

BKD Settles With FDIC Over Kevin Lewis Fraud

by Arkansas Business Staff 5/16/2016 12:00 am

The Federal Deposit Insurance Corp. last week settled its lawsuit against the accounting firm BKD LLP, just days before the trial was scheduled to begin in U.S. District Court in Little Rock.

Walton College of Business Scholarship Reaches Out to ‘Underrepresented'

by Jan Cottingham 5/16/2016 12:00 am

Among the items on his to-do list as dean, Matt Waller said, is ensuring the success of the Fleischer Scholars Program, a scholarship program that seeks to draw students from “underrepresented” parts of Arkansas to the Walton College of Business.

Facebook Page Offers Peek Into John Rogers' Thinking

by George Waldon 5/16/2016 12:00 am

Even the conservative assessment by a court-appointed receiver proved to be overly optimistic regarding the insolvent business interests of John Rogers, whose Facebook page recently offered up what read almost like a confession.

Michelle Smith Joins BancorpSouth Branch in Fort Smith (Movers & Shakers)

by Arkansas Business Staff 5/16/2016 12:00 am

Michelle Smith has been hired by BancorpSouth Bank as an assistant vice president and manager of the Riley Farm branch in Fort Smith. Smith, who has 26 years of banking experience, was previously with Simmons Bank.

Presidential Hotel Hosts $8.5M Sale (Real Deals)

by George Waldon 5/16/2016 12:00 am

LR HI Associates LLC, an affiliate of Centura Capital of Conshohocken, Pennsylvania, bought the Holiday Inn-Presidential at 600 Interstate 30. The seller is HI Presidential LLC, led by Larry Carpenter.

2 Regulators OK Bank of the Ozarks' Acquisitions

by Arkansas Business Staff 5/13/2016 02:37 pm

Bank of the Ozarks Inc. of Little Rock said Friday that it has received regulatory approval for its previously announced acquisitions of Community & Southern Bank of Atlanta and C1 Financial Inc. of St. Petersburg, Florida.

Sean Williams Installed as Bankers Association Chairman; Cathy Owen Added to Lineup

by Gwen Moritz 5/12/2016 03:00 pm

Sean Williams was installed Thursday as chairman of the Arkansas Bankers Association for 2016-17. As vice chairman, Cathy Owen is in line to become the first woman elected to the top position in 2018.

Three Former Employees Plead Guilty to Stealing $3.9M From Walnut Ridge Bank

by Gwen Moritz 5/11/2016 05:15 pm

Brenda Montgomery and Cindy Tate, both of Walnut Ridge, pleaded guilty on Tuesday, and Peggy Sutton of Biggers admitted guilt on Wednesday. They will be sentenced at a later date.

Stephens Inc. Fined $900K for Lax Supervision of Internal Emails

by Gwen Moritz 5/11/2016 04:32 pm

Stephens Inc. consented to the FINRA fine without admitting or denying the findings, and spokesman Frank Thomas told Arkansas Business that Stephens Inc. would not comment on the order.

FDIC Asks for Over $1.2M in Judgments Against Alex Golden, Amy McCay

by Arkansas Business Staff 5/9/2016 12:00 am

The FDIC has locally registered judgments of nearly $900,000 against Allied Bank president Alex Golden and more than $324,000 against his sister, Amy McCay.

Kent Williamson Succeeds Lisa Ray as Arvest President in Springdale

by Arkansas Business Staff 5/9/2016 12:00 am

Lisa Ray names Kent Williamson as her own successor as president of Arvest's Springdale market.

New Bankruptcy Filing Shows Deeper Debts for Phil Herrington

by Arkansas Business Staff 5/9/2016 12:00 am

In the recently released, more detailed filing, Phil Herrington listed debts of $13.45 million and assets of $5.06 million. When he initially filed for Chapter 11 in March, the real estate developer listed his estimated debts at between $1 million and $10 million.

Groups Strive to Support Latino Entrepreneurs

by Marty Cook 5/9/2016 12:00 am

Jay Amargos of Startup Junkie Consulting said a lack of money is just one of many barriers for the prospective Latino entrepreneur.

In Fraud By Kevin Lewis, Blame Is On Trial

by Mark Friedman 5/9/2016 12:00 am

In a civil trial scheduled to start next Monday, the Federal Deposit Insurance Corp. will blame regional accounting firm BKD LLC for failing to uncover the massive fraud that led to the 2010 failure of First Southern Bank of Batesville.

Worldwide Number of Bank Branches on Decline

by Arkansas Business Staff 5/9/2016 12:00 am

Technology has changed the relationship between banks and their customers, a change resulting in the decline in the number of bank branches per capita worldwide.

One Bank & Trust Capitalization Plan Forms

by George Waldon 5/9/2016 12:00 am

Little Rock's One Bank & Trust hasn't generated a normal quarterly profit since the Office of the Comptroller of the Currency ousted Layton “Scooter” Stuart as CEO in September 2012.

All's Quiet on the Acme Bankruptcy Front

by George Waldon 5/9/2016 12:00 am

The parent company of Mulberry's Allied Bank marked its second year in bankruptcy last month.