Building to start on Argenta apartments
Construction of Argenta Flats, a 78-unit apartment complex in North Little Rock’s Argenta Arts District, is scheduled to begin today, according to Salter Properties.
Estimated construction cost is $2.73 million, not including land costs, according to building permits issued by the city.
The one- and two-bedroom apartments to be built in the 500 and 700 blocks of Maple Street should be completed by the end of 2014 or early 2015, said Brent Salter, vice president of the Conwaybased developer.
Rent will start at $845 for one-bedroom units and $1,200 for two-bedroom units, Salter said. One-bedroom units with a patio will be 713 square feet, and one-bedroom units with a lounge will be 780 square feet.
The ground-level two-bedroom units will be 946 square feet, and the second-floor two-bedroom units will be 1,013 square feet, Salter said.
- Jack Weatherly
Conway bank listed
in top stock jumps
Home BancShares of Conway saw the second-biggest one-day jump in stock price among all publicly traded banks that bought another bank in the past two years, according to research by SNL Financial of Charlottesville, Va.
The 21.03 percent jump came the day after the June 25 announcement of the purchase of Liberty Bancshares of Jonesboro.
SNL Financial, which does research on banking and other financial industries, analyzed deals since Jan. 1, 2012.
Hilltop Holdings Inc.
of Dallas saw the biggest one-day jump after it announced the purchase of Plains Capital Corp.
in May. Hilltop’s stock jumped 32.66 percent after the announcement, SNL said.
Home BancShares owns Conway-based Centennial Bank.
- David Smith
Index slips by 1.80 as Fed news awaited
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.80 to 313.79 Monday.
“Stocks closed slightly higher as commitment phobic investors await today’s update by Federal Reserve Chair [Janet] Yellen on the status of the central bank’s stimulus measures,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Tyson Foods was the sole standout, gaining just more than 1 percent on near average volume, Williams said.
Murphy Oil shares fell nearly 1.8 percent in active trading.
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 19 on 02/11/2014