Lender reaches deal for Bank of McCrory
First National Corp., which owns First National Bank of Wynne, has agreed to acquire Bank of McCrory, the two banks said Monday.
Terms of the deal, which is expected to close this fall, were not disclosed.
First National Bank of Wynne, in Cross County, was established in 1915. The bank has about $280 million in assets. It has six locations serving Wynne, Harrisburg, Cherry Valley and Forrest City.
Bank of McCrory, in Woodruff County, was founded in 1903. It has about $75 million in assets.
The banks have agricultural lending in common, said Sean Williams, chief executive officer of First National Corp.
The deal is a good one for the two banks and also for the city of McCrory, said Vance Thompson, CEO of Bank of McCrory.
-- David Smith
Car-Mart's CEO nets $516,115 from stock
Hank Henderson, the chief executive officer of Bentonville-based America's Car-Mart, gathered $516,115 from two stock transactions earlier in July, according to documents filed with the Securities and Exchange Commission.
Henderson exercised his option to acquire 14,000 shares of Car-Mart stock at $11.90 each and sold an equal number of shares at a weighted average price of $37.56, according to a document filed July 6. Henderson then exercised his option to acquire 6,250 shares at $11.90 each and sold an equal number of shares at $37 each, according to a document filed July 11.
After the moves, Henderson still retains 87,190 shares of the company.
America's Car-Mart runs 140 buy-here, pay-here automotive dealerships in Alabama, Arkansas, Georgia, Indiana, Iowa, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee and Texas.
Car-Mart shares rose $1.15, or 3 percent, to close Monday at $38.55.
-- John Magsam
Index picks up 2.61 as 12 stocks climb
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.61 to 344.45 Monday.
Twelve stocks advanced, four declined and one was unchanged.
Shares of USA Truck gained 4.8 percent in heavy trading.
Dillard's Inc. shares rose 3.1 percent each.
Shares of El Dorado-based Murphy Oil fell 1.1 percent in average trading volume.
Bear State Financial fell 1 percent on low volume.
Total volume for the index was 23.3 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/18/2017