Smiley Responds to Delta Suit: Dads Signature Might be Bogus

Dennis Smiley, former president and CEO of Arvest-Benton County, responded to the suit filed against him last month in Benton County Circuit Court by Delta Trust and Bank, and in his response, said his father’s signature on financial documents tied to a toxic loan “may not be the actual signature of Smiley Sr.”

Smiley filed the response Thursday.

The admission relates to the fact that the Delta suit, filed March 25, claims that Smiley’s father, Dennis Smiley Sr., was a signatory to a February loan from Delta for $245,126. The first scheduled payment on the loan was missed in March and triggered an avalanche of claims against Smiley, who, according to well over a dozen banks, repeatedly pledged his Arvest stock to obtain loan after loan.

In particular, Delta claims Smiley pledged 4,264.33 shares of Arvest stock as collateral for the loan. Delta, in addition to suing Smiley Jr., sued Smiley Sr. and a Smiley holding company, HDS Holdings LLC.

Smiley Sr., however, filed a response earlier this month, telling Delta he did not sign loan documents.

In Smiley Jr.’s response, he admits that the initial loan payment was missed, but also says “the purported signatures of Smiley Sr. that appear on the promissory note, security agreement, and the guaranty … may not be the actual signatures of Smiley Sr. …”

Similar language is used throughout the response as Smiley Jr. goes down the list of the accusations levelled at him and his father by Delta. Smiley is asking that the Delta complaint be dismissed.

He is represented by the Ball & Mourton law firm of Fayetteville.

Smiley, a 25-year veteran of Arvest, resigned March 13. He did not return a phone call seeking comment.