Arvest filed a third lawsuit in nine days involving the former head of its Benton County operations.
The complaint, filed Tuesday in Benton County Circuit Court, claims Dennis Smiley Jr. and his wife Cynthia defaulted on a loan worth $215,000 they took out April 12, 2012. The bank claims the Smileys owed $181,783 as of Aug. 21, with interest accruing at a rate of $15.95 per day.
Smiley was president and chief executive officer of Arvest Bank of Benton County until suddenly resigning on March 13. Several area banks have claimed in recent months Smiley defaulted on loans they gave him.
Arvest filed a lawsuit on Aug. 18 claiming the couple and her business, Design for the Home, owe nearly $82,000 on a pair of loans worth $90,000.
Friday the bank filed suit against Smiley's father, Henry Dennis Smiley Sr. and HDS Holdings, a holding company they have together, claiming they owe $368,255 on five loans worth $428,550.
Other default lawsuits include:
• First Security Bank sued the Smileys and HDS Holdings for $233,306
• Simmons First National Bank sued Smiley Sr. and HDS Holdings for $88,716
• Delta Trust claims HDS Holdings and Smiley Sr. and Smiley Jr. owe $245,126
• First Federal claims the holding company and Smiley Jr. and Sr. owe $71,342
• Bank of Fayetteville claims Smiley Jr. owes $479,177, HDS Holdings owes $215,012 and Smiley Sr. owes $42,066.
Circuit Court Judge John Scott called a pretrial conference for 1:30 p.m. Sept. 18 in Room 208 of the Benton County Courthouse. A letter sent to attorneys in the case states Scott will decide pending motions and set the trial date during the hearing.
NW News on 08/27/2014