February 15th, 2005
A large rural community development bank in Arkadelphia fears it could lose a million dollars a year if some of President Bush’s budget proposals are carried out.
Officials at Southern Bancorp of Arkadelphia said the elimination of new appropriations through the Community Development Financial Institutions Fund and the Bank Enterprise Award would damage the bank’s plans.
October 8th, 2004
Southern Development Bancorporation of Arkadelphia will receive a $1.8 million equity grant to help the bank acquire additional branches to provide housing, business and consumer lending in the Mississippi Delta region, the state’s Democratic Congressional delegation announced Thursday.
U.S. Sens. Blanche Lincoln and Mark Pryor and U.S. Reps. Mike Ross and Marion Berry announced more than $1.8 million in grants provided by the U.S. Treasury Departmentâ€™s Community Development Financial Institutions Fund. The money is aimed at providing assistance to low-income, rural areas of the state.
August 23rd, 2004
In 2002, Phillip Baldwin looked around at the crumbling buildings and the dilapidated houses in Helena and wondered if the nearly $150 million in development loans to the Delta had made a difference
March 7th, 2004
Category: Category III
Phillip Baldwin is sympathetic to the people whose “eyes glaze over” when he tries to explain the mission of Southern Bancorp of Arkadelphia.
“I was driving my car one day, thinking, ‘What is it I do? What really is this job?’” the CEO said. “And I thought of that Christmas movie with Jimmy Stewart. We’re like the Bailey Building & Loan.”
March 7th, 2004
Phil Baldwin sees himself as Jimmy Stewart in “It’s a Wonderful Life” – using lending institutions to improve the lives of ordinary residents of Arkadelphia, West Helena and Ruleville, Miss. But unlike the Bailey Building & Loan, Southern Bancorp is not the kind of place where cash is mislaid and incompetent relatives are kept on staff.