Finance

Bank OZK Q1 earnings set record

Bank OZK announced Thursday (April 20) that net income for the first quarter of 2023 was a record $165.9 million, a 29.5% increase from $128 million for the first quarter…

Chambers Bank promotes Curtis Spatz to chief strategy officer

Danville-based Chambers Bank has promoted Curtis Spatz of Prairie Grove to the newly created chief strategy officer position. With the new job, Spatz joins the bank’s executive committee as a…

Cashion Company expands leadership team

The Cashion Company Insurance and Bonding, LLC has announced an expansion of its leadership team. The new leadership group includes: Matthew K. Cashion, Jr., President Andrew Davie, Executive vice president…

First quarter net income, revenue post big gains for Home BancShares

Thanks in large part to higher interest rates, Conway-based Home BancShares posted an almost 60% net income gain in the first quarter compared with the same quarter in 2022. Per…

White River Bancshares posts 80% decline in first-quarter earnings

White River Bancshares Co., the holding company for Fayetteville-based Signature Bank of Arkansas, reported net income of $340,000, or 34 cents per diluted share, in the first quarter. That’s 80%…

FNBC hires Kyle Davidson to run its Mountain Home operations

FNBC has hired Kyle Davidson as its community president in Mountain Home. He succeeds Chad Hudson, who has held the role since 2010, and will continue to serve FNBC as…

Lavy discusses Priority Bank success, Frank Broyles friendship

Various ratios measure a bank’s performance. One of the benchmark percentages is ROA, short for return on assets, which is a bank’s net income divided by its total assets. As…

How ‘safe and sound’ banking practices empower the age of digital banking

The phrase “safe and sound” originates from Shakespeare’s play, “The Comedy of Errors.” In more recent times, it is a guiding principle of the federal regulatory bodies that oversee the…

Walmart uses debt market to raise nearly $5 billion in capital

Walmart has returned to the debt market to raise about $5 billion in capital that will be used for general purposes, the company said. The retail giant is selling notes…

Farmers and Merchants Bank promotes two

The board of directors of Farmers and Merchants Bank and The Bank of Fayetteville announced the promotion of two employees to key leadership roles. Blake Holzhauer will serve as Chief…

Bank commits $100,000 to help first-time homebuyers

The mortgage division of one of the state’s largest banking organizations is committing $100,000 to help first-time homebuyers. FNB Mortgage, a division of Fort Smith-based holding company First Bank Corp.,…

$2 million industrial building sale recent top property deal in Craighead County

SHHTH Properties LLC made the most significant residential and commercial property transfer in Craighead County, from Feb. 15 through March 15, according to the Craighead County Assessor’s Office. The company spent…

Residential mortgage executives discuss challenges, current market conditions

After last year’s turmoil, much has been written about what 2023 holds for the mortgage market. As the calendar flips to Q2, it’s worth reflecting on the critical lessons learned…

FDIC: Arkansas banks see income decrease in 2022

According to a recent Federal Deposit Insurance Corp. (FDIC) report, federally insured commercial banks and savings institutions saw net income decline by 5.8% to $263 billion in 2022. The decrease…

Bank failures unlikely to have significant industry effect in Arkansas

Arkansas banking leaders have been working to reassure consumers and renew confidence in the industry’s strength in the state and nationwide after two large coastal banks failed in mid-March. Sam…

Southern Bancorp receives $9.8 million in CDFI grant funds

The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund has awarded more than $1.73 billion in grants to 603 CDFIs through the CDFI Equitable Recovery Program. Southern Bancorp, Inc.,…

Peoples Bank to open in Benton

Peoples Bank of Sheridan announced Wednesday (April 12) it will open a new branch office in Benton and has hired Chris Diaz as Benton Market President and Don Tackett as…

Gov. Sanders signs tax cut measure, extends tax filing deadline for tornado victims

Gov. Sarah Sanders on Monday (April 10) signed a major tax cut bill into law and put forth an executive order to extend state tax filing deadline for citizens impacted…

Signature Bank of Arkansas names Ward new president

Fayetteville-based Signature Bank of Arkansas has a new president and several leadership changes. Brant Ward, previously the chief operating officer, has assumed the new role. Gary Head remains chairman and…

Then & Now: Mason’s career path winds back to Fayetteville

Editor’s Note: The following story appeared in the March 27 issue of the Northwest Arkansas Business Journal. “Then & Now” is a profile of a past member of the Business…

Walmart likely to tap insiders for expected leadership changes

Dan Wright re-elected Arkansas Farm Bureau president

Arkansas Tourism Ticker: Tourism tax numbers down through August, job numbers up

Acres.com, ULI NWA establish partnership