Indiana group buys Alzheimer's center
The Texas developer of a 74-bed health care facility in west Little Rock sold the project to an Indiana real estate investment trust last month for $14.1 million.
Embree Group of Cos. of Georgetown, Texas, built the Alzheimer's care center about a year ago and leased it to Memory Care America of Nashville, Tenn., Mike Gould, chief executive officer of Memory Care, said Friday.
Embree sold the facility last month to Mainstreet Holdings of Carmel, Ind., which includes a real estate investment trust.
Memory Care of Little Rock at Good Shepherd, at 2501 Aldersgate Road, is a branch of Memory Care America. When the facility opened a year ago, Memory Care dedicated a wing of the facility to Glen Campbell, a country music star and Arkansas native who has Alzheimer's. Campbell has been a patient at a Memory Care facility in Nashville.
-- David Smith
Expert: Banks' filings point to loan growth
Earnings posted this week by several big U.S. banks point to trends that financial investors can expect to see in banks as fourth-quarter earnings reports are released, Matt Olney, a banking analyst with Stephens Inc. in Little Rock, said in a report Friday.
JPMorgan Chase, Wells Fargo, Bank of America and PNC Financial Services are among banks that have released their fourth-quarter earnings.
Based on those reports and others, investors should expect publicly traded banks to show steady loan growth that will accelerate later in the first quarter on seasonally strong mortgage production, Olney said.
Three Arkansas banks -- Bank of the Ozarks, Simmons First National Corp. and Home BancShares -- are scheduled to release their fourth-quarter earnings next week.
-- David Smith
15 state stocks rise, drive index up 3.89
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 3.89 to 360.72 Friday.
Fifteen stocks rose and three fell.
Three stocks gained more than 5 percent Friday -- America's Car-Mart, ArcBest and USA Truck.
Shares of Murphy USA fell 1.8 percent on average volume.
For the week, 11 stocks advanced and seven declined.
ArcBest rose 10.4 percent for the week.
PAM Transportation fell 5.3 percent for the week.
Total volume for the index was 18.5 million shares. The average daily volume for the week was 19 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 01/14/2017