Trustee Sues Alliance’s Officers for $7.3M
Officials of a bankrupt Arkadelphia insurance agency ignored red flags indicating owner Berry Bishop was committing bank fraud, according to a trustee suing to recover $7.3 million. read more >
Officials of a bankrupt Arkadelphia insurance agency ignored red flags indicating owner Berry Bishop was committing bank fraud, according to a trustee suing to recover $7.3 million. read more >
According to the amended order entered by U.S. District Judge Susan Hickey, Berry Bishop owes restitution totaling almost $4.13 million to six entities. Here’s how it breaks down read more >
A pair of south Arkansas bank companies completed acquisitions this month. read more >
I feel compelled to make this point every year or two, since it is the most important lesson I’ve learned from two decades as your business editor: Wealth and the appearance of wealth are two different things. read more >
Supportive family members cried in a Hot Springs courtroom Friday morning as Berry R. Bishop, the Hot Springs insurance agent who also had offices in Prescott and Arkadelphia, was sentenced to five years in federal prison for bank fraud totaling more than $4.3 million. read more >
Berry Bishop, the Hot Springs insurance agent who also had offices in Prescott and Arkadelphia, is scheduled to be sentenced in U.S. District Court in Hot Springs on Friday morning. read more >
Since 2009, continued attrition that extended to Arkansas banks of all sizes further reduced the headcount of the smallest of the small. read more >
The Federal Reserve Board has approved the previously announced merger of the $67 million-asset Bank of Prescott with the $1.6 billion-asset Farmers Bank & Trust of Magnolia. read more >
For the list this week, we crunched bank data from Dec. 31 in a way we haven’t in a few years: by return on assets. read more >
The proposed sale of the last lender headquartered in Nevada County represents a nearly $8.4 million cash transaction. read more >
Farmers Bank & Trust of Magnolia announces a deal to acquire the Bank of Prescott in the third quarter of 2019, but the financial terms of the deal were not released. read more >
Bank consolidation nationally is continuing on a similar pace to recent years, but it has been a slower year in Arkansas, especially for the smallest banks. read more >
Berry Bishop, the failed insurance agent, under oath in bankruptcy proceedings, has described some of his borrowings from the Bank of Prescott over the past three or four years as loan fraud. read more >
Bishop’s Alliance Insurance Group of Arkadelphia Inc. filed for Chapter 7 bankruptcy protection late last month and listed $8.2 million in debts and $5.5 million in assets. read more >
An insurance conglomerate has sued Alliance Insurance Group of Arkadelphia and its owner, Berry R. Bishop, pushing the total value of claims filed against them to more than $3 million. read more >
The Bank of Prescott and Citizens Bank of Batesville filed civil suits Monday alleging frauds totaling $2.4 million by former insurance agent Berry Bishop and his agency, Alliance Insurance Group of Arkadelphia Inc. read more >
