NEWS IN BRIEF

— 11 state banks have $1 billion or more

Eleven Arkansas-based banks had more than $1 billion in assets at the end of last year, the Federal Reserve Bank of St. Louis said Friday.

That is up from nine banks with at least $1 billion in assets in the third quarter. The information comes from quarterly filings the banks are required to make with the federal government.

Arvest Bank is the largest bank based in the state with $13.2 billion in assets. The next-largest bank is First Security Bank in Searcy with $4.3 billion in assets, followed by Centennial Bank in Conway with $4.2 billion in assets, Bank of the Ozarks in Little Rock, $3.9 billion;

Liberty Bank of Arkansas in Jonesboro, $2.8 billion; Simmons First National Bank in Pine Bluff, $2.1 billion; Summit Bank in Arkadelphia, $1.2 billion; Southern Bancorp Bank in Arkadelphia, $1.1 billion; First National Bank of Fort Smith with $1.1 billion; Metropolitan National Bank in Little Rock, $1 billion, and Chambers Bank in Danville, $1 billion.

Metropolitan and Chambers Bank had less than $1 billion in assets in the third quarter.

  • David Smith

Tyson arm purchases tortilla, chip maker

Tyson Foods Inc. said Friday that its subsidiary Tyson Mexican Original Inc. has purchased Don Julio Foods of Clearfield, Utah, which makes flour and corn tortillas, potato chips, tortilla chips and pretzels.

Terms of the deal were not disclosed.

The company said the products are marketed to retailers across the country under the Don Julio Authentic and Clover Club brands.

Tyson Mexican Original is the second-largest U.S.

manufacturer of tortillas.

“Don Julio is an example of a brand that’s the right fit for Tyson Foods,” Donnie Smith, Tyson president and chief executive officer, said in a news release.

Don Julio employs about 50 people.

Tyson said in the release that Don Julio’s team will continue to manage the operation.

  • Steve Painter

Arkansas Index falls 0.48, ends at 263.43

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slipped 0.48 point to 263.43 Friday.

Declining stocks outpaced advancing stocks by almost a 2-to-1 margin.

Murphy Oil gained 1.7 percent in heavy trading.

Wal-Mart dropped 2.2 percent on almost three times its normal volume.

For the week, nine stocks advanced, six declined and one was unchanged.

Windstream lost 8.7 percent for the week.

Arkansas Best rose 5.4 percent for the week.

Volume for the index was 56 million shares Friday, compared with average daily volume of 23.3 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 27 on 02/16/2013

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