Banking & Finance Archive

Purchases Spur Redevelopment Of Bank Branch Sites

by George Waldon 7/7/2014 12:00 am

Two competitors recently stepped into the Pulaski County banking market to replace Metropolitan National Bank and National Bank of Arkansas. Even with the redevelopment of four NBA branches, Pulaski County has no shortage of banking locations, with 199 full-service branches operated by more than two dozen lenders.

Bank Charter Conversions Drop State's Number of Thrifts to Three

by Arkansas Business Staff 7/7/2014 12:00 am

United Bank of Springdale and Benefit Bank of Fort Smith received approval from the Arkansas State Bank Department to convert from federal savings banks to state banks.

No Daily Report, E-newsletters on Friday

by Arkansas Business Staff 7/3/2014 10:01 am

Arkansas Business will not send the Daily Report or weekly industry e-newsletters on Friday, the Fourth of July. Arkansas Business Publishing Group offices will be closed Friday as well, reopening on Monday. ABPG wishes everyone a happy Fourth.

Insurance Agent Steve Standridge Pleads Guilty, With Caveats

by Gwen Moritz 7/2/2014 11:43 am

Steve Standridge pleaded guilty to two of the 35 federal felony counts against him, but he reserved the right to withdraw the plea.

Jim Bolt Criminal Saga Reveals ‘A Certain Amount Of Genius'

by Gwen Moritz 6/30/2014 12:00 am

A federal judge sentenced James W. Bolt to a sentence 29 months longer than standard sentencing guidelines. It was an acknowledgement that the only way to keep Bolt from breaking the law was to keep him locked up.

After 9 Years, Larry Biernacki Leaves Bigger Arkansas Federal Credit Union

by Gwen Moritz 6/30/2014 12:00 am

Arkansas Federal Credit Union was a good organization with $405 million in assets when Biernacki arrived nine years ago this month, having been well and carefully managed into its position as largest credit union in the state by Hank Klein.

NLR Acreage Acquisition Approaches $2.7 Million (Real Deals)

by George Waldon 6/30/2014 12:00 am

More than 420 acres on the eastern edge of North Little Rock changed hands in a transaction valued at $2.69 million. The sale of two Citgo convenience stores added up to a $1.4 million combo deal. And a 7,460-SF industrial project in North Little Rock changed hands in a $450,000 sale.

Help Card Offers Funeral Financing

by Brandon Riddle 6/30/2014 12:00 am

The Help Card in Springdale and Continental Computer Corp. in Jonesboro have joined forces to provide a processing component to the Directors Assistant program, a service for funeral directors.

Fed Industry Councils Play Key Role (Mark A. Bentley Commentary)

by Mark A. Bentley 6/30/2014 12:00 am

Last year I was invited to become a member of one of the Federal Reserve Bank of St. Louis' four industry councils. The councils are made up of business leaders in four key industry sectors: real estate, agribusiness, health care and transportation. I have the privilege of representing the commercial real estate industry in Arkansas.

First Arkansas Bank & Trust Also Absorbing Bank Branches

by Arkansas Business Staff 6/30/2014 12:00 am

Larry Wilson, CEO of First Arkansas, confirms his bank's purchase of old Simmons branch in Jacksonville. And he threw in a couple more for good measure: the former Metropolitan branches at the intersection of Highways 321 and 89 in Cabot and at Kiehl and Brockington in Sherwood.

Jim Bolt: 100 Months 'Essentially a Life Sentence'

by Gwen Moritz 6/24/2014 11:14 am

U.S. District Judge Timothy Brooks of Fayetteville threw the book at the career criminal because "there's a high likelihood that Mr. Bolt will recidivate."

Testimony: Arvest Bank Was Jim Bolt's Biggest Victim

by Gwen Moritz 6/24/2014 11:04 am

The Fayetteville bank had to make good on a guarantee it issued when Bolt fraudulently claimed $1.9 million in assets held as unclaimed by the state of California, an FBI agent testified Monday.

Burgundy Book: Slight Economic Improvement in Arkansas

by Mark Carter 6/24/2014 09:07 am

According to a May survey of business leaders in the state, the near-term outlook for the Little Rock zone improved slightly.

Bank-Owned Property Draws $3.9M Buyer (Real Deals)

by George Waldon 6/23/2014 12:00 am

A 49,100-SF office building in west Little Rock weighed in at $3.9 million. A four-building, 22,912-SF office project in west Little Rock changed hands in a nearly $1.66 million transaction.

Don McDonald of Merrill Lynch Honored as Top Financial Adviser by Financial Times

by Arkansas Business Staff 6/23/2014 12:00 am

Don McDonald was recently named one of the 2014 Top 400 Financial Advisers by the Financial Times. The honor is given to financial advisers who show excellence as professionals for high net-worth clients.

Kevin Huchingson of Colliers on What Makes Commercial Real Estate in Arkansas Attractive

by Arkansas Business Staff 6/23/2014 12:00 am

Kevin Huchingson is president and CEO of Colliers International Arkansas, a commercial and residential real estate services firm. He's been a principal there since 1997 and has led Arkansas' Colliers offices since 2002.

Arkansas Business Presents the 40 Under Forty Class of 2014

by Gwen Moritz 6/23/2014 12:00 am

This week, Arkansas Business presents its 21st class of 40 Under 40 honorees. This year's honorees represent our state's geography — Pine Bluff, England, Jonesboro, Conway, Fort Smith, Rogers — and the diversity of our business community — farming, finance, medicine, academia, nonprofits.

Pay Tops $1 Million For Seven on Highest-paid Nonprofit Employees List

by Gwen Moritz 6/16/2014 12:00 am

Seven nonprofit employees in Arkansas who earned more than $1 million in the 2012 tax year are either medical doctors or hospital administrators, as are the vast majority of the 262 nonprofit employees whose compensation exceeding $215,000 is reported in this issue.

Federal Tax Credits Help Our House Build Center

by Mark Friedman 6/16/2014 12:00 am

Our House Inc.'s $5 million Children's Center that opened June 7 was paid for with help from New Markets Tax Credits.

Chateau West Moves In $2.8 Million Sale (Real Deals)

by George Waldon 6/16/2014 12:00 am

The sale of a 141-unit apartment complex in south Little Rock weighed in at $2.86 million. A carwash in downtown Little Rock is under new ownership after a $491,000 sale. And a 1,744-SF office building in west Little Rock changed hands in a $300,000 deal.