Capital Bank Brings On New Leadership

by Arkansas Business Staff  on Monday, Mar. 11, 2019 12:00 am   2 min read

Capital Bank's Chenal Parkway location in Little Rock. (Google Maps)

Heard about some new doings at Capital Bank in west Little Rock?

Chris Roberts is chairman and CEO at the $161 million-asset lender effective last month. Joining him this month as vice chairman and president is Phillip Jett.

We’re told the new faces are preceding a big move to boost the bank’s capital. The figure we heard is $50 million. That’s nearly four times the bank’s current equity capital tally of $13 million.

Roberts was unavailable to talk about details regarding any transaction associated with a stock offering and plans for Capital Bank.

Launched in 1997, the bank recorded net income of $782,000 last year. Capital Bank posted a loss of $491,000 in 2017 after recording a $1 million profit in 2016.

Banking Background
Roberts and Jett are familiar names on the Little Rock banking scene.

Roberts was most recently executive vice president of wealth management and private banking at Simmons Bank.

You might recall that Roberts came to Simmons via Delta Trust & Bank, where he was president. Simmons purchased Delta Trust in 2014 in a $66 million transaction.

Before that, Roberts was the founding CEO of Little Rock’s Centennial Bank. He owned 8.2 percent of the $216 million-asset bank when it sold to Conway’s Home BancShares Inc. back in January 2008.

At the time, the deal was described as a $23.9 million transaction.

Leading Centennial investors were Rick Ferguson, Little Rock residential developer, 33.26 percent; the late Gene Cauley, former Little Rock attorney, 32.74 percent; and Steve Wortman, president of Little Rock’s Kaufman Lumber Co., 12.33 percent.

Centennial Bancshares represented a reconstituted Pine State Bancshares Inc. of Kingsland (Cleveland County), purchased for $2.7 million (about 1.91 times book value) in December 2004.

Jett comes to Capital by way of IberiaBank, where he was president of the Louisiana-based lender’s central and northwest Arkansas markets.

Before joining IberiaBank in 2009, Jett worked nearly a dozen years in Little Rock at Regions Bank. He rose to executive vice president before leaving Regions.

 

 

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