Southern Bancorp Buy
The one-time home of the Little Rock branch of the Federal Reserve Bank tipped the scales at $1.35 million. Southern Bancorp CDC of Arkadelphia bought the 123 W. Third St. project. The seller is 123 West Third Associates Ltd., led by Kenneth McRae.
For the second time in as many weeks, Southern Bancorp of Arkadelphia is announcing another acquisition. Southern’s CEO, Phil Baldwin, confirmed Monday the news contained in a news release that was distributed two days early by the target organization, First Delta Bankshares Inc. of Blytheville. Southern will be acquiring the holding company, which owns First National Bank of Blytheville and the Bank of Trumann.
Cindy Jackson, the parish nurse of First United Methodist Church, who has taken on the role to spearhead a charitable health clinic, met with a group of 10 people interested in the effort Tuesday to discuss needs for opening the clinic.
The Clark County Strategic Plan outlined the need for a charitable health clinic in Goal No. 2, Action Step C: “Develop a comprehensive plan to open a medical clinic in Arkadelphia for low income residents and those without insurance. Using the results of this comprehensive plan, open a medical clinic on or before Dec. 31, 2008.” The CCSP Healthcare Subcommittee addressed this action step in fall 2008. While it may be a few months behind target on its opening, volunteers are paving the way for the step to become a reality.
Webmaster note: Southern Bancorp provided a loan and grant for Clark County Childcare Inc. and constructed the newly-opened facility.
24-hour daycare is now a reality in Clark County. Not only is it bringing 46 new jobs to the area, it also helps parents who work late hours. “I’ve never heard of 24 hour daycare,” said Alicia Benson who works in the Radiology Department at St. Joseph’s Hospital in Hot Springs. “My hours vary; sometimes I work until 8pm, 10pm, sometimes I work during the day.”
The city of Arkadelphia has two reasons to celebrate. For one, it’s the site of the state’s first 24-hour daycare center, and secondly because the future facility is bringing dozens of jobs to town. Gov. Mike Beebe was the special guest at today’s grand opening of Clark County Child Care Inc., which was built by Southern Bancorp Community Development Corporation (SBCDC) on land leased from the Clark County Industrial Park.
Visitors from throughout the country, and even some foreign countries, are raving about the amenities at the new B.B. King Museum in Indianola. A big part of what made that possible was a $250,000 grant from Southern Bancorp (Southern).
The grand opening of the Clark County Child Care Inc., took place Tuesday at 10:30 a.m. in the Clark County Industrial Park. The 24-hour-a-day, 7,560-square-foot facility, constructed by Southern Bancorp Community Development Corp. held its formal ribbon cutting with Gov. Mike Beebe as the guest speaker.
Southern Bancorp, a rural community development bank, has agreed to buy a small El Dorado bank and use it as an anchor to reach disadvantaged areas in south Arkansas, Southern Bancorp’s chief executive officer said Thursday.
Troubled Timberland Bank of El Dorado announced Thursday that it will be acquired by Southern Bancorp of Arkadelphia in a deal that is expected to close within 90 days. Southern Bancorp is paying between $5 million and $6 million in cash for the bank – about half its book value, according to Southern CEO Phil Baldwin. But it is also allowing Timberland Bank’s holding company, Timberland Bancshares Inc., to retain in the form of a dividend some $5.8 million worth of nonperforming assets.
Webmaster Note: Southern Good Faith Fund has been leading the Arkansans Against Abusive Payday Lending coalition to protect Arkansans from abusive rapid refund anticipation loans.
LITTLE ROCK — A state lawmaker says he wants more protections for consumers who apply for so-called “instant refunds” or “cash advances” on their income tax refunds.Rep. Darrin Williams, D-Little Rock, said he plans to present Friday in the House Insurance and Commerce Committee a bill that would require any business offering short-term loans based on anticipated tax refunds to disclose to consumers any fees they may have to pay.