Tagged: rogers bancshares

Rogers Stock Loan Repaid to Centennial Bank

by Arkansas Business Staff 9/9/2013 12:00 am

$8 million in debt owed to Centennial Bank of Conway which was personally guaranteed by Doyle Rogers, was paid off very recently.

Update: Simmons First, Arvest Submit Bids for Metropolitan National Bank

by Lance Turner 9/5/2013 7:42 pm

Simmons First National Corp. of Pine Bluff and Arvest Bank of Fayetteville are submitting bids to acquire Metropolitan National Bank of Little Rock, according to legal notices and documents filed this week. Simmons First has submitted a bid of at least $16.9 million to acquire Metropolitan National Bank of Little Rock, the minimum required to overbid the "stalking horse" bidder, Ford Financial Fund II of Dallas, the according to a document filed Wednesday with the U.S. Securties & Exchange Commission.

Doyle Rogers Estate Bank Debt Backed with Worthless Stock

by Arkansas Business Staff 9/2/2013 12:00 am

The estate of Doyle Rogers Sr. owes about $8 million in outstanding debt to Centennial Bank of Conway. The controlling interest in Rogers Bancshares held by Rogers Family Ltd. No. 2 secured an original $10.1 million loan dating back to February 2010.

Metropolitan National Bank Auction Cleared To Begin in September

by Arkansas Business Staff 8/19/2013 12:00 am

Who won the give-and-take of sorting out details of the pending bankruptcy court auction of Little Rock’s Metropolitan National Bank? By our count, the score was 3-2 in favor of the debtor, Rogers Bancshares Inc.

Susie Smith Testimony Recounts Trials, Tribulations at Metropolitan National Bank

by George Waldon 8/19/2013 12:00 am

Perhaps no one can appreciate the battle to save Metropolitan National Bank more than Susie Smith, Metropolitan’s senior executive vice president, COO and CFO. Her testimony at a July 26 hearing in Little Rock’s U.S. Bankruptcy Court offers a glimpse inside the embattled, former $1.8 billion-asset lender.

Guaranteed Payout Reduced for Potential Metropolitan Buyers

by Arkansas Business Staff 8/5/2013 12:00 am

Did you know a federal bankruptcy judge slashed the proposed stalking-horse fee in the pending bid-sale of Metropolitan National Bank?

Metropolitan Bank Posts $1.3M Second Quarter Profit

by Gwen Moritz 8/1/2013 10:47 am

Metropolitan National Bank, which is being sold through bankruptcy court, reported net income of $1.28 million in the second quarter of 2013, a call report filed with federal regulators shows. CEO Lunsford W. Bridges said said the bank's ratios continue to "show great improvement."

Bidder Proposes $74.2 Million in New Capital for Metropolitan National Bank

by Gwen Moritz 7/30/2013 3:54 pm

Ford Financial Fund II of Dallas plans to invest a bit more than $90 million if it wins its bid to buy Metropolitan National Bank of Little Rock from its holding company, Rogers Bancshares Inc., documents filed in bankruptcy court show. Meanwhile, U.S. Bankruptcy Judge James G. Mixon is expected to rule on various motions, including the bidding timetable, on Wednesday.

Whispers Corrects, Recalculates Figures from Rogers Stockholders

by Arkansas Business Staff 7/29/2013 12:00 am

Last week, we told you about the identities of the investors who bought preferred stock from Rogers Bancshares Inc., the holding company for Metropolitan National Bank, but it turns out we had the dollar amount of preferred stock wrong.

Identities Revealed in Rogers Bancshares Bankruptcy

by Arkansas Business Staff 7/22/2013 12:00 am

Tucked in the recent Chapter 11 bankruptcy filing of Rogers Bancshares Inc., the holding company for Metropolitan National Bank, are the identities of the investors who bought $13.2 million worth of preferred stock.

Metropolitan Bank Shareholders Unlikely to Get Any Cash

by Gwen Moritz 7/15/2013 12:00 am

Rogers Bancshares Inc., the holding company for Metropolitan National Bank, had negative common equity of $22 million as of March 31. As a result, its creditors are likely to receive only pennies on the dollar from the proposed $16 million sale of Metropolitan.

Metropolitan National Bank Finds a Savior as Dallas Investment Fund Agrees to Purchase

by Gwen Moritz 7/5/2013 4:00 pm

A Dallas investment fund has signed a definitive agreement to purchase Metropolitan National Bank of Little Rock from its holding company, which late Friday filed for Chapter 11 bankruptcy reorganization to facilitate the sale, and to recapitalize the bank to the level required by federal regulators.

Arkansas TARP Banks Post a Range Of Results

by George Waldon 1/7/2013 12:00 am

Six Arkansas lenders remain as participants in the U.S. Treasury’s Capital Purchase Program-Troubled Asset Relief Program. Half are current on their quarterly payments to Uncle Sam.