Banking & Finance Archive

Home BancShares 3Q Profit Up 22 Percent

by Lance Turner 10/20/2016 07:06 am

Home BancShares Inc. of Conway reports record quarterly profit of $43.6 million, up 22 percent from the same quarter last year.

Pete Yuan Off to Texas, IberiaBank Names New Arkansas Leader

by Lance Turner 10/18/2016 01:55 pm

IberiaBank Corp. says Gregory K. Smithers, an executive vice president and regional president of the bank's Tennessee operations, will now also oversee the bank's Arkansas operations.

McLarty Capital Partners, USDA Launch Private Investment Fund

by Arkansas Business Staff 10/17/2016 09:19 am

The U.S. Department of Agriculture has partnered with McLarty Capital Partners of Little Rock to launch a private investment fund the two groups said could inject $100 million in rural small businesses.

Two Others in Hunt for Allied Before Today's Bank Took Ownership

by Arkansas Business Staff 10/17/2016 12:00 am

Today's Bank of Huntsville was awarded ownership of the $66.3-million asset lender with a negative bid of $6.1 million.

Farmers Bank of Magnolia Looks To Prosper with Texas Branch

by Arkansas Business Staff 10/17/2016 12:00 am

Twelve of the 103 banks chartered in Arkansas have branches in other states. One of them is Farmers Bank & Trust of Magnolia, which was doing business 50 miles away in Texarkana, Texas, even before it acquired 1st Bank early last year.

Arvest Introduces Asa Cottrell as SVP, Sales Manager for Central Arkansas (Movers & Shakers)

by Arkansas Business Staff 10/17/2016 12:00 am

Most recently, Cottrell served as a senior vice president and manager of Arvest Wealth Management for the bank's Little Rock and Fort Smith markets.

Maumelle Townhomes Attract $8.5M Transaction (Real Deals)

by George Waldon 10/17/2016 12:00 am

EIIC LLC, led by Jean Eiler, purchased 61 townhomes in The Villas at Audubon near the northwest corner of Audubon and Club Manor drives.

Luter Family Gives $1M to ASU College of Business

by Arkansas Business Staff 10/14/2016 08:56 am

A northeast Arkansas banker and his wife have given $1 million to the Arkansas State University business college.

Report: Arkansas Consumer Sentiment at Highest in 2 Years

by Arkansas Business Staff 10/12/2016 09:21 am

As the nation's economy expanded this summer, Arkansans reported feeling more confident than at any time in the past two years, an Arvest report says.

Bank of the Ozarks' 3Q Net Income Up 65 Percent

by Lance Turner 10/11/2016 09:45 am

Bank of the Ozarks Inc. of Little Rock reports record third-quarter net income of $76.0 million, up 65 percent from the same quarter last year, as it completed two major bank acquisitions.

Deadline Extended in Phil Herrington Bankruptcy Case

by Arkansas Business Staff 10/10/2016 12:00 am

The trustee for Little Rock developer Philip Herrington withdrew a request last week that his bankruptcy be converted from reorganization to Chapter 7 liquidation.

National Rate for Unbanked Falls to 7 Percent in 2015

by Arkansas Business Staff 10/10/2016 12:00 am

The percentage of U.S. households that are “unbanked,” meaning no one in the household has a bank account, fell to 7 percent in 2015, compared with 7.7 percent in 2013, according to preliminary results of an FDIC survey, the “2015 FDIC National Survey of Unbanked and Underbanked Households.”

Little Rock's Metrocentre Mall District Begins Dissolution Process

by George Waldon 10/10/2016 12:00 am

Property owners in downtown Little Rock's Metrocentre Improvement District No. 1 are finally getting a break from decades of shouldering $12.5 million of debt.

Developer Brandon Woodrome's $2M Fraud Seen From The Inside

by Mark Friedman 10/10/2016 12:00 am

In 2013, the year he turned 26, Brandon Woodrome's Fort Smith construction company generated $10.2 million in revenue, and Woodrome had a number of projects in the pipeline. But things weren't what they seemed.

Future Bank of the Ozarks HQ Site Draws Deals Totaling $12M-Plus (Real Deals)

by George Waldon 10/10/2016 12:00 am

Little Rock's Bank of the Ozarks Inc. acquired about 46.2 acres of mostly undeveloped property for a corporate campus in west Little Rock.

Sandy Straessle Hired at Stone Bank (Movers & Shakers)

by Arkansas Business Staff 10/10/2016 12:00 am

Sandy Straessle has been named a customer service manager for the Little Rock branch of Stone Bank of Mountain View.

Smithsonian Puts Spotlight On AutoMail

by Sarah Campbell 10/10/2016 12:00 am

A northeast Arkansas company, AutoMail, has been added to a new virtual exhibit by the Smithsonian Institution's National Postal Museum in recognition of technology it developed in the 1990s that helped community banks save money through manifest mailing.

Maf Sonko Taps Wire on Little Rock's Tech Community

by Arkansas Business Staff 10/10/2016 12:00 am

Maf Sonko completed the Venture Center's inaugural FinTech Accelerator held in Little Rock. His startup was one of 10 chosen from 150 applicants and is planning to move to Little Rock next year. Participants received a $50,000 initial investment for a 6 percent equity position.

FinTech Accelerator to Host Virtual Roundtable on Regulation

by Sarah Campbell 10/7/2016 11:08 am

The Venture Center's FinTech Accelerator will host a virtual roundtable on Oct. 26 via YouTube Live with Rep. French Hill (R-Ark.) and Rep. Ann Wagner (R-Mo.) over compliance and regulation in the financial technology and banking industries.

Sentences Reduced for Two Walnut Ridge Embezzlers

by Gwen Moritz 10/6/2016 10:28 am

The prison sentences ordered for two Walnut Ridge bank embezzlers were reduced by six months on Wednesday thanks to the sharp eye of their co-defendant's lawyer.