Banking & Finance Archive

Former Little Rock Tax Preparer Pleads Guilty; Scam Cost Government $1.1M

by Gwen Moritz 8/26/2014 10:40 am

Christopher T. Craig pleaded guilty to just two cases of diverting tax payments to himself, but he admitted that the loss to the government was much greater.

In Lawsuit, Arvest Bank Seeks $467K From Dennis Smiley Jr.

by George Waldon 8/26/2014 10:33 am

Arvest Bank of Fayetteville has sued to collect more than $467,000 in delinquent debt associated with its former Bentonville market president Dennis Smiley. Arvest's actions make it the 11th bank to file details of delinquent loan claims associated with Dennis Smiley Jr. The two lawsuits pushes the known claims against Smiley to about $2.5 million.

Arvest Consumer Survey: Arkansans Have Debts, Saving Rates Similar to Region

by Lee Hogan 8/26/2014 09:18 am

Arkansas consumers have similar debts and saving rates to their neighbors in Missouri and Oklahoma, according to the final release of the first Arvest Bank Consumer Sentiment Survey.

IberiaBank Sheds Springdale Business Center for $1.78M

by Arkansas Business Staff 8/25/2014 12:00 am

An OREO property of IberiaBank since 2011, the Springdale Business Center was purchased by Hillcrest Holdings LLC of Fayetteville, led by Robert Morgan and Gary Nichols.

LR Retail Centers Draw $6.1 Million Transaction (Real Deals)

by George Waldon 8/25/2014 12:00 am

Two retail projects in southwest Little Rock tipped the scales at $6.1 million. Geyer Springs Shopping Center LLC of Brooklyn, New York, bought its namesake 152,852-SF property at 8717 Geyer Springs Road and the 21,760-SF Geyer South project at 8521 Geyer Springs Road.

Last Chance to Nominate Candidates for Arkansas Business' 20 in Their 20s List

by Arkansas Business Staff 8/19/2014 11:42 am

Nominations are being accepted for the list of the state's most influential young professionals, "The New Influentials: 20 in Their 20s."

Southern Bancorp to Buy Mississippi's Smallest Bank

by Gwen Moritz 8/19/2014 11:18 am

Southern Bancorp Inc. of Arkadelphia announced Tuesday a plan to buy the smallest bank in Mississippi, the Bank of Bolivar County.

Turner Grain Possibly Tilting Toward Bankruptcy

by Arkansas Business Staff 8/18/2014 12:00 am

Sources say Turner Grain Merchandising Inc. of Brinkley is on the verge of filing for bankruptcy protection.

Clarion Hotel Medical Center Recycled for $5M (Real Deals)

by George Waldon 8/18/2014 12:00 am

A 262-room hotel in midtown Little Rock changed hands in a $5 million foreclosure sale. The 5.22-acre development was tied to a November 2003 mortgage of $14 million held by Jonesboro's Liberty Bank of Arkansas, which became part of Centennial Bank in 2013.

Public Company Board Service Can Mean Lots of Work and Risk

by Gwen Moritz 8/18/2014 12:00 am

This week we list all directors of 19 publicly traded companies headquartered in Arkansas and the compensation they received for service on the boards in the most recent fiscal year. It's work that's “a whole lot harder” than it used to be.

Arkansas Innovation Leaders Meet with US Commerce Official

by Mark Carter 8/15/2014 10:52 am

A "who's who" of Arkansas business and innovation leaders joined Delta Regional Authority co-chair and Arkansas native Chris Masingill and U.S. Assistant Secretary of Commerce for Economic Development Jay Williams on Friday for a discussion on entrepreneurship and its role in economic development.

Bank of the Ozarks, Home BancShares Among Top Performing Banks

by Lee Hogan 8/13/2014 10:38 am

The second and third largest banks in Arkansas were recognized as some of the top performers in Bank Director magazine's 2014 Bank Performance Scorecard.

Jerry Claret Moves Up at Nations Equipment Finance (Movers & Shakers)

by Arkansas Business Staff 8/11/2014 12:00 am

Jerry Claret has been hired as senior vice president of business development at Nations Equipment Finance, serving Alabama, Arkansas, Florida, Louisiana, Mississippi and Oklahoma. Claret was previously business development manager at ENGS Commercial Finance

Disaster Planning Should Start Early

by Mark Friedman 8/11/2014 12:00 am

After a disaster strikes is not the time for the business owner to develop a plan to reopen the company.

Bonding Company Gets OK To Garnish Portion of Joyce Judy's Paycheck

by Arkansas Business Staff 8/11/2014 12:00 am

Cumis Insurance Society Inc., the bonding company that was stung by Joyce Judy, will start to recover some of the money she swiped when she was president of the Arkansas Employees Federal Credit Union in Little Rock.

Simmons First Expects More Merger Expenses

by Arkansas Business Staff 8/11/2014 12:00 am

You may have missed this in Simmons First National Corp.'s second-quarter numbers, but it spent $2.6 million on merger-related costs for the quarter that ended June 30.

Details of Delinquent Dennis Smiley Loans

by George Waldon 8/8/2014 08:06 am

Ten banks that loaned money to Dennis H. Smiley Jr. included details about their claims in court filings. Total outstanding on the 20 loans is nearly $2 million.

First Security Bank Forecloses on Dennis Smiley Home

by George Waldon 8/8/2014 08:02 am

First Security Bank of Searcy files a foreclosure lawsuit on a $200,000 loan secured by Dennis Smiley's home in Rogers.

Gary Head: Smiley Told Me He'd Made Mistakes

by George Waldon 8/8/2014 08:00 am

Gary Head, chairman, president and CEO of Fayetteville's Signature Bank of Arkansas, says he learned of the multimillion-dollar loan scandal involving Dennis Smiley Jr. in a phone call from Smiley himself.

Arvest Bank Settles With 18 Dennis Smiley Creditors

by George Waldon 8/8/2014 07:58 am

Arvest Bank of Fayetteville has settled with 18 of 20 creditors who loaned money to one of its former executives, Dennis Smiley Jr. Only First State Bank of De Queen, where Smiley's namesake father is chairman, and Signature Bank of Arkansas in Fayetteville remain as possible claimants seeking money from Smiley's Arvest Bank Group stock purchase and stock option plans.

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