Though Signature Bank has yet to lay claim to any of Dennis Smiley’s Arvest money, it has filed a collateral claim on Smiley’s 20 percent stake in HDS Holdings LLC tied to an unspecified September 2009 loan. His fractional HDS holding represents a 2.8 percent share of NWA Holdings LLC, which owns The Shoppes at Har-Ber Lakes in Springdale above.
Ten banks that loaned money to Dennis H. Smiley Jr. included details about their claims in court filings. Total outstanding on the 20 loans is nearly $2 million.
Bank of Fayetteville
1) Made a one-year loan of $50,000 to HDS Holdings LLC, led by Dennis Smiley Jr., on May 9, 2007
Grew to $250,000; $152,507 owed when the loan was called April 1
Purpose: Refinance two BOF loans and provide additional financing for HDS
2) Made a one-year loan of $38,500 to Smiley on July 30, 2009
Grew to $264,847 and term extended to three years; $263,869 owed when the loan was called March 19
Purpose: Refinance two BOF loans and provide working capital to Cynthia Smiley’s design business and capital calls on Har-Ber Meadows
3) Made a two-year loan of $37,500 to HDS on Aug. 15, 2012
Grew to $75,000; $62,503 owed when the loan was called April 1
Purpose: Fund a new tenant build-out and cash reserves for the LLC
4) Made a three-month loan of $50,000 to Dennis Smiley Sr.* on March 29, 2013
Loan was called March 31 with $42,005 owed
Purpose: Cover unspecified commercial real estate closing
Total owed on four loans: $520,884
Simmons First National Bank, Pine Bluff
1) Made a nine-month unsecured loan of $85,000 to HDS on May 15, 2008
Owed $56,289 after loan default occurred on April 4
Purpose: Increase line for working capital
2) Made an 18-month unsecured loan of $30,075 to HDS on May 2, 2013
Owed $29,684 after loan default occurred on March 2
Purpose: Extension of existing note
Total owed on two loans: $85,973
First Western Bank, Booneville
1) Made a one-year loan of $125,000 to HDS on Feb. 3, 2011
2) Made a three-year loan of $85,983 to HDS on Nov. 25, 2013
Owed $196,359 on both loans as of May 9
First State Bank, Lonoke
1) Made a five-year loan of $65,000 to Dennis and Cynthia Smiley and their Design For The Home LLC on Dec. 2, 2011
Owed $40,450 as of March 17
Purpose: Pay off an FSB loan, pay down another and provide additional funds for business operations
2) Made a three-year loan of $76,000 to Dennis Smiley Jr. on April 3, 2012
Owed $38,336 as of March 17
Purpose: Pay off another FSB loan and moving expenses
3) Made a two-year loan of $87,379 to the Smileys and DFTH on Oct. 1, 2012
Owed $80,298 as of March 17
Purpose: Reconfigure debt and remodel home purchased for resale
Total owed on three loans: $159,084
Integrity First Bank, Mountain Home
1) Made a six-year loan of $150,000 to Dennis Smiley Jr. on July 13, 2012
Owed $159,781 by Dennis and Cynthia Smiley and their Design For The Home LLC as of April 21
Purpose: Pay off two other Integrity loans and for home improvements
First State Bank, Russellville
1) Made a one-year loan of $150,000 to Design For The Home LLC on Sept. 21, 2012
Owed $145,965 as of April 1
Purpose: Line of credit to be used for investment purposes of the business
First Federal Bank, Harrison
2) Made a one-year loan of $50,000 to HDS Holdings on April 10, 2013
Owed $50,174 as of April 14
Purpose: Investments in NWA Holdings LLC (Har-Ber development) and other business interests
3) Made a six-month loan of $25,000 to HDS on May 31, 2013
Owed $20,736 as of March 31
Purpose: Future investments in the development of a real estate project
Total owed on two loans: $70,910
First National Bank, Fort Smith
1) Made a loan of $50,000 to HDS on July 5, 2013
Owed $50,640 as of March 31
Purpose: Refinance another FNB loan
2) Owed $145,443 as of March 31
Purpose: Pay off another FNB loan and business expenses
Total owed on two loans: $196,083
First Bank, Hampton
1) Made a one-year loan of $130,000 to Dennis Smiley Jr. on Oct. 9, 2013
Owed $130,000 as of March 10
Purpose: Funding capital contributions for Har-Ber retail development
2) Made a three-year loan of $50,000 to Smiley on Oct. 31, 2013.
Owed $48,797 as of March 8
Purpose: Purchasing unidentified stock
Total owed on two loans: $178,797
Delta Trust & Bank, Little Rock
1) Made a three-year loan of $245,126 to HDS, Dennis Smiley Jr. and Dennis Smiley Sr.* on Feb. 20, 2014
First payment of $2,638 missed on March 20 triggering default
*Dennis Smiley Sr. has denied borrowing this money.
Source: Benton County Circuit Court filings
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