Posted 9/9/2013 12:00 am
Last week Whispers told you about a financial domino put in play for the estate of Doyle Rogers Sr. by the bankruptcy of Rogers Bancshares Inc.
Controlling interest in the parent company of Little Rock’s Metropolitan National Bank secured about $8 million in debt owed to Centennial Bank of Conway.
That debt by Rogers Family Ltd. No. 2, which was personally guaranteed by Doyle Rogers, was paid off very recently.
The loan payoff made the encumbered status of the Rogers Bancshares stock a non-issue heading into the Chapter 11 auction of Metropolitan’s holding company.
The bankruptcy court auction of Metropolitan begins Monday. As you may have heard, Simmons First National Corp. of Pine Bluff has joined the bidding.