LITTLE ROCK — Earnings grow 15% for Murphy Oil’s CEO
David Wood, chief executive officer of El Dorado based Murphy Oil Corp., earned about $10.6 million last year, the company said in a federal filing Thursday.
That includes his salary, exercised stock options, stock options awarded and other compensation. His earnings increased by about 15 percent, or $1.4 million, from 2010.
Last year, the company had a net income of $872.7 million, up 9 percent from 2010, when its earnings were $798.1 million.
Other Murphy executives and their total earnings last year, including exercised stock options, were:
Kevin Fitzgerald, chief financial officer and executive vice president, $5.81 million, compared with $3 million in 2010.
Roger Jenkins, executive vice president of exploration and production, $4.8 million, compared with $5.5 million in 2010.
Bill Stobaugh, senior vice president, $5.58 million, compared with $2.9 million in 2010.
Thomas McKinlay, senior vice president of manufacturing, $2.39 million. He was not listed in 2010’s filing.
BancorpSouth settling overdraft-fees case
BancorpSouth Inc. has reached a $1.75 million settlement with customers who said they were unfairly charged overdraft fees after the bank cleared bigger checks first, rather than the order in which checks were received, to increase the chances that an account would have insufficient funds and incur the fee.
U.S. District Judge Robert Dawson in El Dorado gave preliminary approval to the settlement Monday.
BancorpSouth asked a judge in Florida, where dozens of similar cases against banks have been consolidated, to stop proceedings against it while the settlement is completed.
More than 350,000 current and former customers of the Tupelo, Miss.-based bank are members of the settlement class, according to the court filing. BancorpSouth has about 60 branches in Arkansas.
Gainers, losers split, Arkansas Index slips
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, lost 0.65 to 233.69 on Thursday.
“U.S. stocks cut their losses and ended mixed after trading markedly lower for most of the day after lackluster jobless claims and increased concerns over the European debt crisis put a damper on the markets’ rally,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index moved lower, as eight advanced and eight declined.”
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 23 on 03/30/2012