Banking & Finance Archive

Change in IRS Policy Returns Seized Money

by Mark Friedman 12/1/2014 12:00 am

A recent change in the Internal Revenue Service's policy on seized money has already helped one Arkansan who had nearly $34,000 seized because of the way he made his bank deposits.

IRS Change Too Late for Structuring Defendants

by Mark Friedman 12/1/2014 12:00 am

Patrice Duncan said she and her husband never thought much about bank deposits for their family-owned business in Conway until Jan. 24, 2012. That's the day the Internal Revenue Service seized $94,500 from the company's account.

Claims Pass $18M as John Rogers' Dealings Draw More Lawsuits

by George Waldon 12/1/2014 12:00 am

Two lawsuits against North Little Rock memorabilia dealer John Rogers add more than $2.6 million to claims that now top $18 million as questions about his business dealings continue to mount.

CPA Gary Cooper on What Common Mistake You May Be Making With Your Accountant

by Arkansas Business Staff 12/1/2014 12:00 am

Gary Cooper has been a featured speaker for the Arkansas State Society of Certified Public Accountants, Lorman Education Services and the National Business Institute. He is the managing partner of JPMS Cox, the state's fourth-largest accounting firm.

Utah Firm Pays $1.9M For NLR Apartments (Real Deals)

by George Waldon 12/1/2014 12:00 am

A 120-unit apartment project in North Little Rock changed hands in a $1.9 million transaction. PC Wilmington LLC of Provo, Utah, acquired the Wilmington Apartments complex at 617 Donovan Briley Blvd. from Wilmington Apartments Ltd. of Gardena, California.

Charities Prosper Under New Laws, Economy

by Marty Cook 12/1/2014 12:00 am

An improving economy and a state full of philanthropic hearts have meant another good year for Arkansas charities, despite concerns that tax law changes might have caused complications.

Preventing Fraud Requires a System (Ann Dorsey Commentary)

by Ann Dorsey 12/1/2014 12:00 am

Every business should have a fraud prevention system in place that includes a solidly written fraud policy and provides training to develop a culture of fraud awareness.

The Power of Mentorship (Monique L. Sanders Commentary)

by Monique L. Sanders 12/1/2014 12:00 am

The business world has changed tremendously over the last two decades, but some things remain constant. Successful companies understand the value of key elements, such as strong relationships. Continuous employee development in communication and in internal and external customer service, along with partnership development, supports positive results. A formal mentorship program can offer invaluable development in these and other areas.

Help Fight Financial Illiteracy (Charlott Jones Commentary)

by Charlott A. Jones 12/1/2014 12:00 am

As individuals and as a country, we are in the throes of a huge problem with consequences for our families, our communities and our entire nation. That problem is financial illiteracy.

No Daily Report, Morning Report or E-newsletters on Thursday, Friday

by Arkansas Business Staff 11/26/2014 11:03 am

Arkansas Business will not send the Daily Report, Morning Report or weekly industry e-newsletters on Thursday and Friday in recognition of the Thanksgiving holiday.

US Economy Grew at 3.9 Percent Rate in 3Q

by Associated Press 11/25/2014 08:30 am

The U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, even faster than first reported, giving the country its strongest six months of growth in more than a decade.

Receiver Says Mixed Ownerships Complicating Turner Grain Case

by Arkansas Business Staff 11/24/2014 12:00 am

Bankruptcy attorney Kevin Keech of North Little Rock, who has been acting as receiver for Turner Grain, has asked a judge for more power to investigate at least eight of Turner's related companies.

Steele Stephens Could Still Face Fines over Shoffner Bribes

by Arkansas Business Staff 11/24/2014 12:00 am

Federal prosecutors gave Steele Stephens immunity from prosecution and let him keep the millions in bond sales commissions he received from the business relationship that resulted in the criminal conviction of former state Treasurer Martha Shoffner.

Centennial's J.P. Sexton Named Arkansas Mortgage Banker of the Year (Movers & Shakers)

by Arkansas Business Staff 11/24/2014 12:00 am

J.P. Sexton, vice president and mortgage market sales manager at Centennial Bank of Conway, was named 2014 Arkansas Mortgage Banker of the Year by the Mortgage Bankers Association of Arkansas. Sexton has over 25 years of mortgage experience in origination, underwriting, sales and operation management.

Take It From George (Editorial)

by Arkansas Business Editors 11/24/2014 12:00 am

One of the mysteries of life is why people refuse to take action that would directly benefit them. Call it the “own worst enemy” syndrome.

Central Bank Eyes Simmons Midtown Branch; Benefit Bank Plans Full Service in Springdale

by George Waldon 11/24/2014 12:00 am

A 2,647-SF Little Rock branch marked for sale by Simmons First National Bank of Pine Bluff is in the process of changing hands.

Grand Bancorp Reassembles Lending Duo

by George Waldon 11/24/2014 12:00 am

Grand Bancorp Inc. of Grove, Oklahoma, is moving forward with the $6 million purchase of Decatur State Bank. The transaction will be funded through a $2.75 million stock offering and a $3.2 million loan from Grand Bancorp. When the deal is completed before year's end, the $128 million-asset Benton County bank will rejoin its sister company, Grand Savings Bank in Grove.

Watson Furniture Gets New Lease on Life (NWA Real Deals)

by Marty Cook 11/24/2014 12:00 am

Philip Taldo has had a busy, happy month. Top on his list is his purchase of Watson Furniture Store on Main Street in downtown Springdale. Taldo, a Springdale real estate agent, paid $250,000 for the two-story, 10,720-SF building that he remembers fondly as the place his father started working at in 1951.

Red Lobsters Serve Up $8.4M Transaction (Real Deals)

by George Waldon 11/24/2014 12:00 am

ARCP RL Portfolio V LLC purchased the Red Lobster at 3707 McCain Blvd. in North Little Rock for $4.98 million. ARCP RL Portfolio VI LLC bought the Red Lobster at 8407 W. Markham St. in Little Rock for $3.44 million

Arvest Consumer Survey: Arkansans' Opinion of Economy Improving

by Lee Hogan 11/18/2014 09:31 am

Arkansas consumer sentiment is up slightly in Arvest Bank's most recent survey, but it's still lower than surrounding states and considerably lower than the national outlook on the economy.