Editor’s note: Each Monday, Talk Business & Politics provides “Money Talk,” a wrap-up of banking and financial news.
UA WALTON COLLEGE PLANS ANNUAL BUSINESS FORECAST FOR JANUARY 27th
The University of Arkansas Walton College of Business’ Center for Business & Economic Research will host its annual Business Forecast Luncheon in Rogers on January 27, 2017. The event brings together national and international experts to discuss the economic outlook for Arkansas, the nation and the world.
Business Forecast 2017 will be held from 11:30 a.m. to 1:30 p.m. Friday, January 27, 2017 at the John Q. Hammons Convention Center in the World Trade Center District in Rogers.
This year’s moderator is Shelley Simpson, Chief Marketing Officer of J.B. Hunt Transport Services, Inc., President of J.B. Hunt Integrated Capacity Solutions (ICS) and Truck, and is an Executive Vice President of the parent company.
Also on tap:
- International Forecaster Stuart Mackintosh, Executive Director of the Group of Thirty, an international financial think tank comprised of senior figures from central banking, the financial sector, and academia.
- Domestic Forecaster Ellen Hughes-Cromwick, who is currently serving as the Secretary of Commerce’s principal adviser on economic matters and as a member of the Secretary’s principal management team.
- Regional Forecaster Kathy Deck, director of the Center for Business and Economic Research in the Walton College at the University of Arkansas.
IBERIABANK GETS $6.5 MILLION FDIC LOSS SHARE PACT PAYOUT FROM FAILED BANK ACQUISITIONS
Lafayette, La.-based IberiaBank Corp. announced that it has entered into an agreement with the Federal Deposit Insurance Corp. to terminate the regional bank’s 12 loss share agreements with the FDIC ahead of their contractual maturities.
The loss share agreements were entered into between 2009 and 2011 in conjunction after IberiaBank’s FDIC-assisted “failed bank” acquisitions of CapitalSouth Bank (2009), Century Bank (2009), Orion Bank (2009), Sterling Bank (2010) and Georgia Commerce Bank’s acquisition of Creekside Bank (2011) and Patriot Bank of Georgia (2011).
Under the terms of the agreement, the FDIC made a net payment of $6.5 million to IberiaBank as consideration for termination of the loss share agreements. As a result of this transaction, the Louisiana banks expects to record a non-core, after-tax charge of approximately $11.2 million, or 26 cents per fully diluted common share, during the fourth quarter of 2016.
FEDERAL RESERVE, ST. LOUIS FED TAKE EXHAUSTIVE LOOK AT ‘ECONOMIC MOBILITY’ IN THE U.S.
The Federal Reserve Bank of St. Louis and the Board of Governors of the Federal Reserve System have together released a new publication that takes a broad look at the importance of “economic mobility” in the gap between the rich and poor in the U.S.
The authors of the essays in the 520-page report explore a range of issues and concepts central to understanding how — and how well — people are able to move economically. The report also notes that roughly 80% of Americans across the ideological spectrum see economic inequality as a moderately big or very big problem.
To view the report, entitled “Economic Mobility: Research & Ideas on Strengthening Families, Communities & the Economy,” click here.