Bank of Ozarks cites NYC area's '17 loans
The New York City metropolitan area accounted for 47 percent of real estate loan growth at Bank of the Ozarks last year, said Matt Olney, a Stephens Inc. banking analyst, in a recent research brief, citing the Little Rock bank's 10-K filing.
The 10-K is an annual report that includes a summary of a company's financial performance. It is required by the Securities and Exchange Commission.
New York accounted for almost $3 billion in real estate loans last year, the bank said.
States that generated more than $1 billion in real estate loans with Bank of the Ozarks last year included Florida with $2.3 billion, Texas with $1.4 billion, Arkansas with $1.2 billion and Georgia with $1.2 billion.
Bank of the Ozarks is Arkansas' largest bank with more than $21 billion in assets. It has extended $13 billion in real estate loans in more than 30 states.
The New York area also accounted for 86 percent of Bank of the Ozarks' deposit growth last year, Olney said. By contrast, Bank of the Ozarks reported a decline of $1 billion in deposits in Arkansas last year, he said.
-- David Smith
CV's Family Foods closing in Fayetteville
Van Buren-based CV's Family Foods is closing its grocery store in Fayetteville.
On Friday, the manager at the store in the 300 block of College Avenue confirmed the store was closing but declined to answer further questions, referring them to the company's corporate offices. A phone message requesting comment on the store closing left at the company's headquarters was not returned Friday afternoon.
The location has been the home for various grocery stores over the years.
Privately-held CV's Family Foods has 16 locations in Arkansas, 14 in Oklahoma and one in Kansas, according to the company's website.
-- John Magsam
Dillard's helps push state index up 4.81
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 4.81 to 415.89 Friday.
Eleven stocks advanced and six declined.
Dillard's gained 7 percent in heavy trading. Windstream lost 5.6 percent on above-average volume.
For the week, 10 stocks fell and seven rose.
Total volume for the index for the week was 36.4 million shares. The average volume for the week was 31.8 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 03/03/2018