Cast of Delta Bank Deal Includes 5 Past 40 Under 40 Honorees

Remember talk of a changing of the guard among shareholders at Little Rock’s Delta Trust & Banking Corp. earlier this year?

Two members of the 40 Under 40 class of 1996 had roles in negotiations that would’ve increased the Stephen LaFrance Sr. family’s stake in the $441.8 million million-asset bank holding company.

We understand that Jeff Fox, founder of Little Rock’s Circumference Group, played the part of peace broker in the sometimes fractious talks between the LaFrance clan and French Hill, chairman and CEO of Delta Trust & Banking.

Those negotiations came to naught after the parties couldn’t reach an accord on stock price.

Other past 40 Under 40 honorees associated with the would-be deal include James Carroll Penick, vice chairman, chief operating officer and chief lending officer of Delta Trust & Bank, class of 1995; Chris Roberts, president of Delta Trust & Bank, class of 2003; and Stephen LaFrance Jr., class of 2006.