Finance

Mark Conine to lead ADFA

Arkansas Secretary of Commerce Mike Preston announced Thursday (May 20) that Mark Conine will serve as the new president of the Arkansas Development Finance Authority (ADFA). Conine comes from his…

Bank of America increases U.S. minimum hourly wage to $25 by 2025

North Carolina-based banking company Bank of America, the nation’s second-largest bank, announced Tuesday (May 18) it will raise its U.S. minimum hourly wage to $25 by 2025. In March last…

Rent relief program using $173 million in federal funds launches in Arkansas

Additional help is available for Arkansas renters who have lost jobs or are struggling financially due to the pandemic. The Arkansas Department of Human Services launched the Arkansas Rent Relief…

Dillard’s posts impressive first quarter results, revenue up 65%

Little Rock-based Dillard’s surprised most retail equity analysts with first fiscal quarter net income of $158.2 million, a wide swing from the $162 million loss in the same quarter of…

Simmons Bank promotes Freddie Black, Chad Rawls to lead new community and metro bank divisions

Pine Buff-based Simmons Bank has established a new organizational structure with the creation of two separate banking divisions — a community bank division and metro bank division. Freddie Black has…

Miranda Gauthier named Springdale market president for Today’s Bank

Huntsville-based Today’s Bank said Tuesday (May 11) that Miranda Gauthier is its new Springdale market president. The company operates one branch office in Springdale at 5178 W. Sunset Ave. Gauthier…

Simmons Bank promotes Paul Lowe to oversee Little Rock, Memphis and Nashville metros

Pine Bluff-based Simmons Bank has promoted Paul Lowe as the metro division president for Little Rock, Memphis and Nashville. “Paul experienced great success leading and growing the central Arkansas division…

First Horizon Foundation launches $100,000 grant campaign for Arkansas nonprofits

A newcomer to Arkansas’ banking market is introducing itself by awarding $100,000 to the state’s nonprofits. First Horizon Foundation, the private charitable foundation of Memphis, Tenn.-based bank holding company First…

Ritter Drive office building sells for $8.5 million

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

Citizens Bank chosen as SBA bank of the year, adds Russ Harrington to board

Citizens Bank, headquartered in Batesville, has been recognized as the Bank of the Year in category two by the Arkansas District Office of the Small Business Administration. The bank also…

AG Rutledge gets $2.6 million judgment against Bentonville timeshare exit firm

Arkansas Attorney General Leslie Rutledge announced Wednesday (May 5) a $2.6 million judgment against Real Travel, LLC, and the company’s founder Brian Scroggs. Real Travel, the now-defunct Bentonville-based company, through…

FNBC expands in Jonesboro

FNBC, based in Sharp County since 1912, opened a major Jonesboro facility on Wednesday (May 5). The 5,800 square-foot building at the intersection of Race Street and Fair Park Boulevard…

Centennial Bank names Orr to head trust division

Kevin Orr has been hired as senior vice president trust manager of Centennial Bank according to Davy Carter, Regional President of Centennial Bank. Orr has over 23 years of experience…

First National Bank of Paragould acquires Tennessee bank

Paragould-based First National Bank will expand into the Nashville, Tennessee market after signing a definitive agreement to acquire Citizens Bank. Citizens Bank is based in Hartsville, Tennessee and operates three locations…

Arvest Bank selected for Fed pilot program

The Federal Reserve Bank has selected Fayetteville-chartered Arvest Bank to participate in a pilot program for a new real-time payments system. FedNow is a new instant payment service that will…

United Federal Credit Union opens 2nd Springdale office

Michigan-based United Federal Credit Union opened its third Northwest Arkansas location April 5. The branch office at 1910 S. Thompson St. in Springdale was obtained as part of a transition…

Legacy National Bank planning business merger with subsidiary

Springdale-based Legacy National Bank and its subsidiary, Bank of Gravette, are scheduled to integrate business operations in early May. The two banks have operated separately and independently of each other…

BSR REIT exits Northwest Arkansas market

BSR Real Estate Investment Trust said it has sold the 360-unit Mountain Ranch Apartments in Fayetteville, its lone remaining property in the region. The sale price was $49.5 million. Little…

Tips for becoming a stronger saver in 2021

April is National Financial Capability Month, a time to encourage people to take action to improve their financial futures. According to a recent Bank of America survey, 43% of Americans…

Skyline Report: commercial real estate market in Northwest Arkansas remains ‘strong, healthy’

The commercial real estate market in Northwest Arkansas remained “strong, balanced and healthy” amid a flat vacancy rate in 2020, according to a new real estate report. The overall vacancy…

Another Fort Smith Board study session set to discuss cemetery ownership

Alice Walton announces partnerships to expand health care workforce

Updated city of Fort Smith budget includes almost $17 million in proposed cuts

Arvest Bank promotes Bret Jones to Pea Ridge president