Money Talk: 8 Banks Bank On Bentonville
by February 2, 2015 6:02 am 192 views
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8 BANKS TO INVEST $16 MILLION IN BENTONVILLE COMMERCIAL DISTRICT
Bentonville-Bella Vista Chamber of Commerce President Dana Davis announced that eight area banks are putting $2 million each into a loan consortium that will make $16 million available to businesses seeking to spruce up and build new projects along a 1.5 mile stretch from Central Avenue to Ridgefield Street in Bentonville, an abandoned commercial district.
Those banks are Arvest Bank, Bank of Gravette, Centennial Bank, First Security Bank, Grand Savings Bank, Iberia Bank, INTRUST Bank and Simmons Bank.
The lending period is set to run through Dec. 31, 2017 unless the money is used before then. The loans, which will be approved by the consortium, will generally have a term of seven years with rates tied to the Wall Street Journal Prime or the Federal Home Loan Bank Secured Connect ballon rate.
RAMBO JOINS LEGACY CAPITAL TO LEAD RETIREMENT SERVICES
Legacy Capital Group (LCG) has hired Teressa Rambo, CRPS®, PPCTM to lead its Retirement Services division. She brings more than 20 years of experience in the retirement plan industry and will provide investment management, fiduciary education and documentation to plan sponsors with qualified retirement plans, such as 401(k)s and 403(b)s. Rambo will operate out of LCG’s Little Rock office. Little Rock-based Legacy Capital Group is a multi-discipline financial services and wealth management firm with offices in Little Rock, Northwest Arkansas, Fort Smith, and High Point, North Carolina.
HOYTE PYLE: FOR INVESTORS, HERE’S THE GOOD, THE BAD AND THE UGLY
Hoyte Pyle, Senior Wealth Consultant with BancorpSouth Asset Management and Trust, recaps the influences that impacted the investment community in 2014 and eyes how these factors may influence 2015.
“Looking back on an eventful 2014, I am in many ways reminded of the old Clint Eastwood movie, ‘The Good, The Bad, and The Ugly,'” Pyle writes. Read his full take at this link.
HOW ARE CONSUMERS SPENDING THEIR LOWER GAS PRICE WINDFALL?
Bloomberg takes an analytical and anecdotal look at how consumers are spending the extra money those lower gas prices are generating. With an extra $40 to $80 a month, there are the beginnings of some stronger consumer spending, but it may take a few more months before real data reflects it.
Typically, it takes 12 months before shoppers start spending their gas savings at stores, according to Goldman Sachs. That means retailers should start to get a real boost in July, a year after gas prices started falling.
Last month, Family Dollar CEO Howard Levine said lower gas prices “are very much a positive for our customer” but acknowledged the impact is “hard to see yet.”