Banking & Finance Archive

Janet Yellen: Job Market Needs Low Rates 'For Some Time'

by Associated Press 3/31/2014 11:35 am

Federal Reserve Chair Janet Yellen made clear Monday that she thinks the still-subpar U.S. job market will continue to need the help of low interest rates "for some time."

Flashbacks of Arkansas Business' First 30 Years (Editor's Note)

by Gwen Moritz 3/31/2014 12:00 am

To celebrate Arkansas Business' 30th anniversary, the staff decided to pull out and reprint some of the stories that we felt were the most important, the most interesting and the most fun. Arkansas Business is still reporting on the state economic scene with business executives as its readership, sticking to its mission of providing the revealing, memorable and important business news available in Arkansas.

George Gleason II: The Wizard of Ozark Bankshares

by George Waldon 3/31/2014 12:00 am

When a restless George Gleason II turned his energies from securities law at the Rose Law Firm toward banking, he also met the familiar face of success. Working with business veteran Carl Holt and a young staff, he built the Bank of Ozark with 35 employees and total assets of $28 million into today's Ozark Bankshares Inc., with more than 100 employees and assets totaling $150 million.

Sam's Show: The Spectacle of Wal-Mart's 1988 Shareholders' Meeting

by George Waldon 3/31/2014 12:00 am

Standing here in northwest Arkansas amid the appreciative gathering with sky blue “What's Important Is You” banners hanging from the rafters and scoreboard, the messes is clear: God, America, Wal-Mart. Welcome to the pageantry and spectacle of Sam Walton's capitalism rally — the 1988 Wal-Mart Shareholders' Meeting — touted as the largest shareholders' meeting in America, if not the world.

Kidnapped! Johnny Allison Describes Shocking Incident That Changed His Life

by John Haman and David Smith 3/31/2014 12:00 am

Johnny Allison, the manufactured-home magnate who apparently was kidnapped June 5 by escaped convict James Avery Slack and escaped by crashing his car into a dump truck, spoke to Arkansas Business about the ordeal after returning home to Conway last week.

Harvey & Bernice Jones Trust ‘Frost' Bitten?

by John Haman 3/31/2014 12:00 am

H.G. “Jack” Frost Jr. was only a part-time employee of the Harvey and Bernice Jones Charitable Trust 1 in his position as trustee, but in fiscal year 1994 his salary tripled, giving him an annual compensation package of more than $350,000 in salary and consultation fees.

M. David Howell's Debts May Total $60 Million

by Gwen Moritz 3/31/2014 12:00 am

M. David Howell, the former bank CEO in Little Rock and Fayetteville who died in a Beverly Hills hotel on Oct. 23, may have received $60 million or more from investors to whom he promised exorbitant returns, sources have told Arkansas Business.

Andrew Kilgore: Portraits in Black and White

by Arkansas Business Staff 3/31/2014 12:00 am

Beginning with the last issue of 1984 and continuing into 1988, Andrew Kilgore photographed business legends and up-and-comers for the cover of Arkansas Business.

FDIC Ends Consent Order With First Community Bank of Crawford County

by Lance Turner 3/28/2014 02:15 pm

The Federal Desposit Insurance Corporation has terminated a pair of enforcement actions against the First Community Bank of Crawford County, which is now owned by the First Bank of Hampton.

Wal-Mart Sues Visa Over Card Fees, Alleges Conspiracy to Fix, Inflate

by Associated Press 3/28/2014 10:12 am

Wal-Mart Stores Inc. is suing Visa Inc. over fees that it charges the world's largest retailer when customers use a credit or debit card. In a complaint filed with the U.S. District Court for the Western District of Arkansas, Wal-Mart alleges that Visa conspired with banks to illegally fix and inflate fees that retailers pay on transactions.

Average US 30-Year Mortgage Rate Rises to 4.40 Percent

by Associated Press 3/27/2014 10:53 am

Average U.S. rates on fixed mortgages rose this week in the wake of comments by Federal Reserve Chairman Janet Yellen suggesting that the Fed could start raising short-term interest rates by mid-2015.

Stephens Inc.'s Ethics Complaint Against Heath Abshure Dismissed

by Gwen Moritz 3/26/2014 11:36 am

The Arkansas Ethics Commission voted 4-0, with one member not present, to dismiss the complaint against Arkansas Securities Commissioner Heath Abshure that Stephens General Counsel David Knight filed in November. Abshure says he never saw any gray area in the settlements that included donations to NASAA.

Simmons First Sues Mountain Pure for Defaulting on $16.5M in Loans

by Mark Friedman 3/25/2014 04:17 pm

Simmons First National Bank has sued Mountain Pure and its owner, John B. Stacks, for defaulting on $16.5 million worth of loans. Meanwhile, Stacks is launching a website to offer his take on events surrounding his indictment in separate case.

Simmons First to Buy Delta Trust for $66M

by Mark Friedman and Lance Turner 3/24/2014 03:45 pm

Simmons First National Corp. of Pine Bluff is buying privately held Delta Trust & Banking Corp. of Little Rock, the pair announced Monday. Simmons CEO George Makris says the $66 million deal will allow it to expand its Simmons Trust services.

Women Can — And Men Can, Too (Editorial)

by Arkansas Business Editors 3/24/2014 12:00 am

There may be a few jobs out there in which every man — person — for himself is a winning strategy, but a rising tide generally does lift all boats. All of us should ask: Am I protecting myself to my own detriment? Would I be more successful or happier or richer or less stressed if I shared the opportunity?

St. John's Apartments Subject of Latest Lawsuit Against Henry Corp.

by Arkansas Business Staff 3/24/2014 12:00 am

Add one more to the pile of suits stacked on the remains of Little Rock's Henry Corp. The latest strike against the former property management group is a complaint filed against the company's leader, David Henry, and his ex-wife, Madeline Henry, by Bank of the Ozarks.

Fort Smith Children's Emergency Shelter Gets $50K for Expansion Project

by Lee Hogan 3/19/2014 11:28 am

First National Bank of Fort Smith and Brown-Hiller-Clark & Associates on Thursday donated $50,000 for an expansion project at the Fort Smith Children's Emergency Shelter.

Skyline Report: New Home Occupancy Up 60 Percent in Northwest Arkansas

by Mark Carter 3/19/2014 10:17 am

New home occupancy in northwest Arkansas was up 60.7 percent in the second half of 2013, according to the most recent Skyline Report from Arvest Bank, released Wednesday.

Simmons First Execs See Compensation Boosts

by George Waldon 3/18/2014 10:59 am

Three of the five top executives at Simmons First National Corp. enjoyed double-digit gains in their compensation packages during 2013.

Mike Beebe Names 36 Appointments to Boards, Commissions

by Arkansas Business Staff 3/17/2014 03:08 pm

Gov. Mike Beebe on Monday announced a judicial appointment as well as 36 appointments to state boards and commissions.