Saturday, February 2, 2013
LITTLE ROCK — One Bank reports loss of $4.3 million
One Bank & Trust Co. of Little Rock lost $4.3 million in 2012, the Little Rock bank said in a financial filing with the federal government Thursday.
The bank earned $986,000 in 2011 and lost $4.9 million in 2010. Its capital level was about $22.9 million at the end of the year, down from about $37.6 million at the end of 2011.
In September, the federal Office of the Comptroller of the Currency issued its third regulatory sanction since 2010 against One Bank and ordered Layton Stuart, its chairman and sole shareholder, to be dismissed and to relinquish all bank property.
The regulator also ordered One Bank to hire a forensic auditor to verify the accuracy of the bank’s books since January 2009. A forensic audit often is done for investigation and prosecution of possible criminal acts.
In October, One Bank hired Gerald Pavlas, a Dallas banker, to serve as chief executive officer replacing Stuart.
Fruit-nuisance fly found in Arkansas
A new tiny fly that can ruin fruit crops has been found in Arkansas, according to the University of Arkansas’ Division of Agriculture.
The spotted wing drosophila, native to Asia, has been found in Johnson, White and Washington counties, according to a news release Friday.
The fly is destructive to fruit crops, because it goes through the skin of fruit and lays eggs, states the release.
The eggs, which hatch between 12 and 72 hours after they are laid, turn into white larvae that eats the inside of fruit. The holes left in the fruit by the fly and larvae leaves the produce vulnerable to infections, according to the release.
The flies go to soft skinned fruits, such as blackberries, raspberries, strawberries and cherries.
State index grows 2.35 on busy day
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 2.35 to close at 261.01 on Friday.
Shares of Acxiom Corp.
rose 3.2 percent to finish at $18.30 in heavy trading.
Arkansas Best Corp.
shares fell 2.8 percent to close at $10.23 in average trading.
Bank of the Ozarks increased by 1.87 percent to finish at $37, just shy of its 52-week high of $37.19.
Shares of Home Banc-Shares Inc. gained 1.6 percent to close at $35.28 in heavy trading.
J.B. Hunt Transport Services rose 57 cents to finish at $67.84. Shares hit $68.31 before the close, missing the company’s 52-week high by 27 cents.
Volume for the index was 25.82 million shares, compared with average daily volume of 22.9 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 29 on 02/02/2013