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More Red Ink for One Bank & TrustLock Icon

1 min read

Little Rock’s One Bank & Trust posted another quarterly loss: $1.6 million. The red ink during the first quarter marked a continuation of a trend that dates back nearly five years.

Rocked by bad loans and mismanagement, One Bank hasn’t produced a normal quarterly profit since the Office of the Comptroller of the Currency ousted Layton “Scooter” Stuart in September 2012.

Total assets declined to $298 million, and equity capital was reduced to $10.4 million.

Nonaccrual loans stood at $5.5 million as of March 31. Another $4.2 million in loans are 30-89 days past due.

As we told you a week ago, a court-ordered sale of controlling interest in the bank will be held Monday in Washington.

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