Dennis Smiley sued by American Express
by January 22, 2015 6:54 pm 197 views
American Express has filed suit against former Arvest bank president H. Dennis Smiley for unpaid credit card accounts totaling $65,025.41.
The complaint was filed in Benton County Circuit Court Jan. 7 and amended Jan. 13. The filings state that Smiley opened the $50,000 credit line 1989. The Platinum card fell in arrears last year after Smiley lost his job at Arvest Bank. The default interest rate charged to Smiley was 27.24%, according to the filing.
The final statement sent to Smiley Sept. 9, 2014 indicated a minimum payment due of $32,638.18 on the balance of $65,025.41. After repeated demands for payment, American Express asked the court for judgment against Smiley for the full $65,025.41 owed, as well as court costs.
Signature Bank and First State Bank of DeQueen also recently obtained judgments against Smiley for $198,628 and $666,077 respectively, for the money owed by the former banker. Signature and First State Bank DeQueen were the only two banks of 20 involved in the loan scheme involving Smiley’s Arvest stock. Arvest Bank settled out of court with the 18 other banks. Several civil trials are set later this year in Benton County involving Smiley’s alleged loan fraud.
No criminal charges have been filed against Smiley, whose father is chairman of First State Bank.