ABF Freight sets
5.4% rate increase
ABF Freight will increase its shipping rates by about 5.4 percent beginning Nov. 3.
Rate increases for the the trucking subsidiary of Fort Smith's ArcBest Corp. were announced Friday. Fees will vary depending on specific lanes and shipments, but the company said the overall price increase for customers would be more than 5 percent.
Details on specific shipment costs are available on ABF's website beginning Nov. 3. Some rate increases might already be reflected, the company said.
Tight capacity and other factors have been cited throughout the trucking industry as reasons for rate increases. Industrywide increases are expected before the Christmas rush.
ABF employs more than 11,000 nationwide. It accounted for 75 percent of ArcBest's $2.1 billion in 2013 revenue. Tim Thorne was named ABF Freight president Oct. 16.
-- Chris Bahn
Centennial's parent
gains Florida bank
Home BancShares Inc. has completed its acquisition of Broward Financial Holdings Inc. of Florida.
Home BancShares, which owns Centennial Bank, said earlier this year that it would buy Broward Financial for about $33 million, mainly in stock.
Home BancShares said Broward Financial, which has about $170 million in assets, will merge with Centennial immediately after the deal.
The completed acquisition, announced Thursday, gives Home BancShares about $7.4 billion in total assets, $5.4 billion in total deposits and $5 billion in total loans. Home BancShares has more than 80 branches in Arkansas, 60 in Florida and seven in south Alabama, according to a news release.
-- Jessica Seaman
Arkansas stocks end
week with 0.78 drop
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dipped 0.78 to 347.97 Friday.
Bank of the Ozarks Inc. shares gained 1.3 percent and Tyson Foods Inc. shares rose 1.1 percent, both in light trading.
Murphy Oil Corp. shares fell 1.7 percent in heavy trading and Simmons First National Corp. shares dropped 1 percent in light trading.
USA Truck Inc. shares saw the biggest gain -- 7.9 percent -- for the week, followed by P.A.M.Transportation Services Inc. with a 6.8 percent increase. Other companies with gains include Dillard's Inc. and Murphy USA Inc.
Bear State Financial had the biggest loss -- 2 percent -- for the week, followed by Simmons First National with a 1.8 percent drop. Deltic Timber Corp. also saw a loss -- 0.3 percent -- for the week.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 10/25/2014