Bank of Ozarks exec says no plans to sell
Speaking with analysts Thursday, Bank of the Ozarks Chairman and Chief Executive Officer George Gleason said the bank would have to consider offers from interested buyers, but that a sale is not part of the bank's strategy.
Michael Rose, an analyst with Raymond James & Associates, based in St. Petersburg, Fla., asked Gleason during the bank's quarterly conference call, "Would you ever consider a sale?"
Selling the bank is not a focus the bank has, Gleason said.
"But at the same time, we're a publicly traded company," Gleason said. "And we've got to do the right thing for shareholders. So if offers came our way, and somebody offered us a substantial premium, our board would have no choice but to fairly and thoroughly consider the option. That's not a direction we're pursuing, not a direction I think that we go."
Bank of the Ozarks released its second-quarter results Wednesday. The shares closed at $42.12 Thursday, down $3.90 or 8.5 percent, in trading on the Nasdaq exchange.
-- David Smith
State organic farms can get reimbursed
Farmers who have received national certification for their organic operations can be reimbursed for at least some of those expenses, the Arkansas Agriculture Department said.
Organic certification fees paid between October 2017 and Sept. 30 are eligible for reimbursement of up to 75 percent of their fees but no more than $750. Costs already reimbursed through the U.S. Department of Agriculture aren't eligible for reimbursement through the Arkansas part of the same program.
"Anything we can do to help offset costs for Arkansas producers is a win for agriculture," Arkansas Agriculture Secretary Wes Ward said in a news release.
The USDA last fall said the number of organic farms in Arkansas grew from 32 in 2015 to 64 in 2016, with total acreage increasing from 2,015 to 4,871. Sales increased from $16.2 million in 2015 to $39.7 million in 2016.
-- Stephen Steed
Arkansas Index sees decrease to 439.36
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 3.57 to 439.36 Thursday.
"Equity performance remains linked to investor sentiment regarding trade tariffs as the market rose on the lack of a retaliatory response by Chinese officials," said Leon Lants, managing director at Stephens Inc. in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/13/2018