An artist's rendering of Centennial Bank Stadium on the campus of Arkansas State University in Jonesboro.
Arkansas State University is using more than $650,000 of an almost $1 million estate gift to help finance construction of new club and suite-level seating at Centennial Bank Stadium in Jonesboro.
The gift is from Henry E. (Ezra) and Verbeth Coe, who had been long-time supporters of Arkansas State. The Coes’ previous gifts to the university include a bell in the Dean B. Ellis Library carillon and the H.E. Coe Endowment Trust, which generates scholarships for student athletes.
In all, the couple gave nearly $3 million in bequests to higher education, according to the university.
Ezra Cole, who died in October 2003, was a 1938 Arkansas State graduate. He was an engineer who had his own construction company. Verbeth, who died in December 2013, was a graduate of what is now knowns as Texas Woman’s University in Denton. She taught English at Tuckerman High School. The university began receiving the estate gift from the Coes last year, according to a university spokesman.
Jerry Burchfield, the CPA for the Coe Estate, said the couple came from humble backgrounds in Jackson County, Arkansas, and East Texas.
“They worked hard, spent little, traveled for their own enjoyment and pastime, and were very conservative in their investments,” Jerry Burchfield said in a university news release.
The university described the Coes as dedicated sports fans, enjoying basketball and football until they were no longer physically able to attend.
“This gift supports the creation of the 21st century edition of the suite level where the Coe family made memories and loved being a part of Arkansas State athletics,” Terry Mohajir, director of intercollegiate athletics, said. “Their support is continuing the momentum for our football program and the expansion of Centennial Bank Stadium that is vital to the future of Arkansas State athletics.”
The Coles’ gift follows a $5 million donation to A-State athletics department announced last summer by Johnny Allison, chairman of Home BancShares Inc. of Conway. The university is also using that money toward improvements to the football stadium.
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