Parkway Bank Gets De-Saddled

We don’t know when it happened and the executives of Parkway Bank aren’t talking, but Jerry Sadler is no longer with the bank in Rogers.

Sadler, you may remember, was the chairman and CEO of Parkway’s Northwest Arkansas division. (Parkway was originally chartered as Portland Bank out of Portland, Ark., where many of its shareholders still reside.)

Bank aficionados may remember the March 2007 shakeup that resulted in the termination of three of Parkway’s four northwest founders. The fourth member later left the bank on his own.

According to the FDIC, as of Sept. 30, Parkway had lost $490,000, a trend better than it’s 2007 loss of $1.93 million. The bank was also the worst performer in terms of past due loans of 21 banks doing business in Benton and Washington counties. The bank was carrying a total of $8.22 million in loans in nonaccrual status at the end of the third quarter.

Sadler was always a straight shooter with the Business Journal, not attempting to make light or wild excuses for the bank’s problems.