New Familiar Names Getting Added to Delta Trust's Shareholders List

More names have surfaced in the pending change of ownership at Delta Trust & Bank we told you about last week.

In addition to the LaFrance brothers of USA Drug fame (Stephen Jr. and Jason), other Little Rock execs expanding the shareholder roster will include:

  • Merritt Dyke, director at Dyke Industries.
  • Walter "Skip" Ebel III, who heads the mergers and acquisitions section at Friday Eldredge & Clark law firm and was a counsel for USA Drug and its affiliates.
  • Jeff Fox, founder of Circumference Group and former Alltel COO.

Among those exiting the ownership picture will be French Hill, chairman and founding CEO of Delta Trust & Bank, and Carroll Penick, COO of the bank.

Also selling their stakes in Delta Trust will be three directors: George O’Conner, Leyden Pugh and George Pugh.

New roles for familiar faces at the bank?

  • Philip Tappan, a current director and former CEO of Quality Foods, will succeed Hill as chairman of the board.
  • Chris Roberts, president of Delta Trust since 2009 and founding CEO of Centennial Bank, will succeed Hill as CEO.

You might recall that Delta Trust & Bank was built on the charter and on-going operations of Southeast Arkansas Bank in Parkdale (Ashley County).

We told you about that deal back in 1999.