Tagged: alex golden

Boss Hogg 2.0 (Gwen Moritz Editor's Note)

by Gwen Moritz 4/2/2018 12:00 am

Even after Allied Bank was shut down by the Arkansas State Bank Department in 2016, I wasn’t expecting a 40-page report from the Office of Inspector General. But Allied was special.

How the Goldens Ruled: Fed Report on Allied Notes Self-Dealing, Insider Abuse

by George Waldon 4/2/2018 12:00 am

The narrative of the report is dominated by criticism of the Goldens, by title rather than name, and the bank board they held sway over.

Fed Report: Examiners Tried to Remove Goldens Years Before Bank Failure

by Gwen Moritz 3/22/2018 11:44 am

A report concludes that federal bank regulators recognized that Lex Golden was a poor banker and that his family was abusing its control of Allied Bank for years.

Suitors Revising Bid For State’s Tiniest Bank

by George Waldon 1/15/2018 12:00 am

The would-be buyers of the smallest bank in Arkansas have withdrawn their application to acquire Community State Bank of Bradley.

Amy Golden McCay Files for Chapter 7 Bankruptcy

by Arkansas Business Staff 7/31/2017 12:00 am

The outstanding balance of an FDIC $324,632 summary judgment from January 2015 against Amy Golden McCay is now part of her recently filed Chapter 7 bankruptcy.

Purchase Offer Calls on Allcorp Bankruptcy

by George Waldon 7/10/2017 12:00 am

A new investment group of Texans makes a $2.3M pitch to buy Community State Bank of Bradley (Lafayette County).

Goldens' Meltdown Was Years In Making

by George Waldon 6/12/2017 12:00 am

Instead of saving Allied Bank from the ruinous meltdown of a radio-active loan portfolio he built, Little Rock banker Lex Golden rode the same downward spiral to insolvency.

Lex Golden Lists Nearly $8 Million in Liabilities in Bankruptcy Filing

by Arkansas Business Staff 3/6/2017 12:00 am

Lex Golden, the Little Rock banker who once controlled two Arkansas financial institutions, recently filed Chapter 7 bankruptcy.

Today’s Bank Takes On Teetering Allied

by George Waldon 10/3/2016 12:00 am

The Allied Bank staff was still a little shell-shocked when they convened at the main office in Mulberry on Saturday, Sept. 24. The day after regulators took over the $66.3 million-asset lender, employees gathered to learn what the future held under the new ownership of Today’s Bank of Huntsville.

Allcorp Follows Acme Holding Into Bankruptcy

by George Waldon 8/29/2016 12:00 am

The Chapter 11 filing by Little Rock’s Allcorp Inc. in July marks the third Arkansas bank holding company to enter bankruptcy court in four years.

Golden Property Allcorp Inc. Goes Bankrupt

by Arkansas Business Staff 8/1/2016 12:00 am

Allcorp Inc. of Little Rock, which owns the $16.9 million-asset Community State Bank of Bradley (Lafayette County), filed for Chapter 11 reorganization late Wednesday.

Chambers Bank Lands $2 Million Golden Judgment

by George Waldon 7/25/2016 12:00 am

The latest ruling is one in a string of lawsuits spawned by the bankruptcy of Acme, the parent company of Allied Bank of Mulberry. Under the Golden family’s ownership and management, the bank has lost more than $14 million since 2010.

FDIC Asks for Over $1.2M in Judgments Against Alex Golden, Amy McCay

by Arkansas Business Staff 5/9/2016 12:00 am

The FDIC has locally registered judgments of nearly $900,000 against Allied Bank president Alex Golden and more than $324,000 against his sister, Amy McCay.

All’s Quiet on the Acme Bankruptcy Front

by George Waldon 5/9/2016 12:00 am

The parent company of Mulberry’s Allied Bank marked its second year in bankruptcy last month.

Former Allied Ally Latest To File Lawsuit Against Acme Owners

by Arkansas Business Staff 11/2/2015 12:00 am

A new lawsuit has arisen from the financial meltdown of Acme Holding Co., parent company of the $98.6 million-asset Allied Bank of Mulberry (Crawford County).

Future of Allied Bank Could Be Decided by June Ruling in Acme Case

by George Waldon 5/25/2015 12:00 am

Three of the largest creditors of Acme Holding Co. recently submitted briefs in support of converting the bank holding company’s Chapter 11 reorganization to Chapter 7 liquidation.

Acme Bankruptcy Proceedings Reveal Kevin Lewis Loss

by Arkansas Business Staff 4/27/2015 12:00 am

A fractious relationship between Hildene Capital Management and Acme Holding Co. was evident in the April 2-3 courtroom interaction between Rex Terry of Fort Smith, Hildene’s local counsel, and Lex and Alex Golden of Little Rock.

Golden Moments in Acme Bankruptcy Court

by Arkansas Business Staff 4/13/2015 12:00 am

Lex Golden, chairman and CEO of Acme Holding Co., served up some meandering testimony during nearly an hour on the witness stand in bankruptcy court on April 2.

Bankruptcy Judge Considers Allied Bank Auction

by George Waldon 4/13/2015 12:00 am

The continued ownership of Allied Bank by the Lex Golden family is under judicial review after a recent two-day bankruptcy hearing in Fayetteville. U.S. Bankruptcy Judge Ben Barry will decide in the coming weeks whether Acme Holding Co. should be liquidated, resulting in the sale of Allied, the $111 million-asset bank chartered in Crawford County.

FDIC Gets Nearly $900K in Judgment Against Acme's Alex Golden

by Arkansas Business Staff 2/16/2015 12:00 am

The award in Atlanta U.S. District Court is divided between more than $780,000 owed on a delinquent loan and nearly $118,000 in attorney fees.