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One Bank Sale Closes Below $4.3M

1 min read

Little Rock’s One Bank & Trust concluded its nearly 61-year run as an ongoing enterprise where it has operated for 24 consecutive quarters: in the red.

The $255.8 million-asset lender, which lost more than $1.1 million for the three months ended June 30, is folding into First National Bank of Paragould.

First National gained entry to the Pulaski County market by acquiring the deteriorating bank for less than $4.3 million from the U.S. Treasury. The $1.3 billion lender posted a $9.5 million profit for the first six months of 2018.

June 30 marked One Bank’s final quarter before the transaction closed. The bank ended with equity capital of $4.7 million, nonaccrual loans of more than $4.2 million and an OREO portfolio of $2.2 million.

One Bank posted final key ratios of 2.14 percent, tier one leverage ratio; 3.10 percent, tier one capital ratio; and 4.36 percent, total capital ratio.

First National Bank, Paragould
Total Assets: $1,370,542    
Net Income: $9,544
Equity Capital: $149,241 | Staff: 220
(As of June 30.)

  Total Assets Net Income Dividends Efficiency Ratio
2017 $1,319,903 $13,244 $2,967 50.51%
2016 $1,152,152 $12,556 $2,567 53.97%
2015 $1,011,891 $10,456 $2,567 55.25%
2014 $850,642 $10,014 $2,567 54.86%
2013 $745,192 $9,306 $532 53.96%
2012 $707,270 $10,061 $4,799 49.64%
2011 $676,265 $10,250 $4,566 48.42%
2010 $645,374 $8,316 $4,799 49.50%

Source: Federal Deposit Insurance Corp. Dollars in thousands.

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