Yellin? for Arvest

Northwest Arkansas

by Talk Business & Politics ([email protected]) October 13, 2003 12:00 am 104 views 

First Security Bancorp. isn’t the only bank to make the news lately with a buyout. Remember the Arvest Bank Group Inc. cash purchase of Mountain Bancshares Inc., the holding company for the $212 million-asset Bank of Yellville?r

Fayetteville-charted Arvest Bank is owned by Arvest Holdings Inc. in Bentonville.r

The sale price for the Mountain was $30.5 million. Five of the largest shareholders to profit from the transaction are:r

n Judy Loving, chairman and CEO of the bank, who owned nearly 56 percent of Mountain worth more than $17 million.r

  • Betty Duren of Yellville, nearly 7.8 percent worth more than $2.3 million.
    r
  • Susan Wendel of Yellville, 5.7 percent, worth more than $1.7 million.
    r
  • Dan Duren, director, nearly 1.6 percent, worth more than $484,000.
    r
  • Jerry Cunningham, bank president, 1.2 percent, worth $372,000.