Finance

Then & Now: Cole finds success at Signature Bank

Editor’s Note: The following story appeared in the Nov. 21 issue of the Northwest Arkansas Business Journal. “Then & Now” is a profile of a past member of the Business…

Deposits up more than 10% in NWA, Fort Smith banks

According to the latest summary of deposits (SOD) report released in September by the Federal Deposit Insurance Corp. (FDIC), 40 banks operating 294 branches in the six-county area of Northwest…

Arkansas Federal Credit Union buys land for 2nd Rogers branch

Little Rock-based Arkansas Federal Credit Union (AFCU) is planning to build a second retail location in Rogers. The company closed a deal in October to buy 2.2 acres of bank-owned…

Jonesboro crushes all-time sales and use tax collections record with a month to go

There is still one month to go in 2022 and the city of Jonesboro has already smashed its sales and use tax collections record for at least the seventh year…

Little Rock insurance firm plans Fayetteville expansion

The owner of one of Arkansas’ oldest privately owned independent insurance agencies is investing in downtown Fayetteville to establish a second location. Roberts Lee, principal of Meadors Adams & Lee…

$60 million, 188-home subdivision planned for Marion

Housing is a significant issue in many communities throughout the Arkansas Delta, and a major home building development is about to start in Marion. Brownstone Estates of Marion, a subsidiary…

$11 million in convenience store sales top recent property deals

KG Jonesboro 1393 LLC made the most significant residential and commercial property transfer in Craighead County, from Sept. 15 through Oct. 15, according to the Craighead County Assessor’s Office. The…

Encore Bank names Gary Edwards as Chief Audit Officer

Little Rock-based Encore Bank named Gary Edwards as executive vice president and chief audit officer. Edwards steps in for Elizabeth Bradley, who has been promoted to Encore’s executive vice president and chief…

Walton Family Foundation grant extends NWA Kiva Hub for three years

A grant from the Walton Family Foundation (WFF) in Bentonville will extend funding through 2025 for the Northwest Arkansas hub of microloan nonprofit Kiva. In a news release Tuesday (Nov….

NWA residential building permits decline; Centerton bucking trend

Through the first nine months of 2022, single-family residential building permits are down significantly in the region’s four largest cities. According to permit data from each city collected by the…

Bank of America donates $250,000 to Arkansas Museum of Fine Arts

Bank of America donated $250,000 to the Arkansas Museum of Fine Arts in Little Rock to help complete its renovation campaign on the museum’s MacArthur Park campus. The quarter-million dollar…

Taking a closer look at veteran swipe fees

It is upsetting to see that the same megabanks and credit card goliaths that continue to push their own social agenda in the name of the common good are, in…

Regions Bank partners with Southern Bancorp, CDFIs on system fees

Regions Bank announced Thursday (Nov. 10) a collaborative agreement with seven Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) – including Arkadelphia-based Southern Bancorp – to enable people…

Arvest Wealth Management names Donny Rogers president of investment services

Arvest Bank subsidiary Arvest Wealth Management (AWM) said Thursday (Nov. 10) that Donny Rogers of Fort Smith has been promoted to president of investment services, effective Jan. 1. He will…

Governor presents budget with record $550 million increase for education, $555 million surplus

Gov. Asa Hutchinson on Thursday (Nov. 10) presented his final biennial balanced budget to the Arkansas General Assembly. The governor’s recommendation, which outlines state government spending for the fiscal year…

Village of Rahling sells to Flake family for $6.6 million

The Village of Rahling Road, a multitenant commercial property at 25 and 27 Rahling Circle in Little Rock, changed hands recently for $6.6 million. The purchase price equals $185.21 per…

Arvest merges mortgage division into bank operations

Fayetteville-chartered Arvest Bank, the state’s second-largest bank, has finalized the legal merger of a wholly-owned subsidiary. As of October, Arvest Central Mortgage Co. (CMC), a servicer of residential mortgages, began…

Southern Bancorp receives $45 million in New Markets Tax Credit funds

Southern Bancorp announced Monday (Nov. 7) it is receiving $45 million in the latest round of New Markets Tax Credit (NMTC) funding. The money comes from the U.S. Treasury Department’s…

Cross County Bank Hires Whitney Eldridge as Marketing Director

Cross County Bank has hired Whitney Eldridge as marketing director with oversight of the bank’s marketing program. She will ensure brand consistency and effectiveness through all advertising, internal and external…

Banking exec expects more interest rate hikes, bracing for brakes on the economy

Banker Davy Carter has a unique position to offer insight on how the most recent 75-basis point interest rate hike from the Federal Reserve Bank is impacting the economy. As…