Simmons First National Corp. filed notice with the Securities and Exchange Commission that it would consolidate its seven subsidiary banks into a single banking organization. The consolidation of charters will occur in two phases, the bank said.
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Pine Bluff-based Simmons First National Corp. announced in a Wednesday filing with the U.S. Securities and Exchange Commission that it intends to consolidate its seven subsidiary banks into a single banking organization.
A third, and likely final, wave of layoffs at Little Rock-based Acxiom Corp. began on Wednesday as the database marketer continued its push to realign its work force to meet changing industry demands. Acxiom indicated in November 2013 it would cut its overall labor force by March in an effort to save $20 million to $30 million annually. Approximately 200 workers nationwide were part of the latest round of layoffs with around 100 in Arkansas.
The Simmons First National Corp. Board of Directors declared a regular $0.22 per share quarterly cash dividend payable April 1, 2014, to shareholders of record March 14, 2014.
Revenues grew modestly, but profits took a tumble as Walmart reported its fourth-quarter and full-year financials. The Bentonville-based retail giant reported fourth-quarter net income of $4.43 billion on sales of $128.8 billion, an increase of 1.4 percent over last year. The quarter included the negative impact of about $1.8 billion from currency exchange rate fluctuations. Last year Walmart posted fourth-quarter profits of $5.86 billion on revenue of $127.77 billion.
USA Truck recorded a fourth-quarter loss of $4.6 million, including one-time charges of $1.5 million related to a hostile takeover bid, on revenue of $141.4 million. One year ago, USA Truck posted a $3.2 million loss on revenue of $134.7 million. For the full year, USA Truck saw its net loss shrink to $9.1 million from $17.6 million in 2012 on growing revenues of $555 million, up from $512.4 million one year ago.
The University of Arkansas Walton College of Business inducted four new members in the state’s Business Hall of Fame. This year’s inductees include advertising executive James Faulkner, international businessman Thomas F. “Mack” McLarty, farmer Stanley Reed and poultry magnate Mark Simmons.
Simmons First National Corporation has announced the promotion of Kish Ivey to senior vice president.
Little Rock-based Bank of the Ozarks announced Thursday that it has entered into a definitive agreement and plan of merger with Summit Bancorp Inc. and its wholly-owned bank subsidiary Summit Bank. Bank of the Ozarks will acquire the Arkadelphia-based bank for $216 million.
The Oudin business headquarters will be relocating around April 15 from its current site at 2720 W. 28th Ave. to a new multi-tenant commercial property currently under construction at 7000 Jefferson Parkway on the northeast corner of the Sheridan Road and Jefferson Parkway intersection in Pine Bluff.