A lease dispute over a 2,876-SF former One Bank & Trust branch in west Little Rock is no more.
“We have reached a settlement,” said Hamilton Kemp, attorney for the landlord, Schay Swope. “They’re trying to find someone to occupy the space.”
“They” are officials at Paragould’s First National Bank, which inherited the litigation after buying the near-insolvent One Bank from the U.S. Treasury 10 months ago.
Swope collected $125,904 in back rent and agreed to allow First National to sublease the property as part of the settlement. The lease agreement, with annual rent of $100,883 plus a 2.5 percent yearly escalator, expires on March 31, 2030.
