NEWS IN BRIEF

2 banks reach deal on assets purchase

First Security Bank and First Federal Bank of Harrison announced jointly Friday that First Security would purchase certain fixed assets and nonmaturity accounts associated with the First Federal branch at 191 W. Main St.

in Farmington.

The transaction is subject to regulatory approval. A September closing date is anticipated.

First Security Bancorp is a financial services holding company based in Searcy with assets of more than $4.5 billion. The bank employs more than 1,000 at its 70 locations in the state.

First Federal operates 13 full-service branch locations. It is a wholly owned subsidiary of First Federal Bancshares of Arkansas Inc.

• Steve Painter

USDA adds 18 days for acreage reports

Arkansas farmers will have 18 more days to submit their annual acreage reports to their U.S.

Department of Agriculture Farm Service Agency office.

However, farmers still must report their acreage by Monday to qualify for crop-insurance programs.

Agency Administrator Juan Garcia announced the change Thursday, saying that farmers and landowners have until Aug. 2 to report acreage. The original deadline for the agency acreage reports was Monday. The reports are used to determine eligibility for various federal farm programs.

Questions about reporting deadlines should be directed to county Farm Services Agency offices.

Information about Farm Service Agency programs is available at county offices or online at fsa.usda.

gov.

Also Thursday, Risk Management Agency Administrator Brandon Willis emphasized that his agency’s acreage reporting date remains unchanged for most spring-planted crops in the country. Crop insurance is sold through private crop-insurance agents. Farmers must report any loss within 72 hours of discovery to their insurers.

• Glen Chase

Index hits an all-time high in light trading

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.47 to 291.20 Friday.

The index reached an alltime high of 291.47 during trading Friday. Nine stocks advanced, five declined and two were unchanged.

America’s Car-Mart gained 3.4 percent on average volume. Home Banc-Shares was up 3.1 percent in light trading.

J.B. Hunt Transport Services dropped 1.5 percent in average trading.

For the week, 11 stocks rose and five fell.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.