Bear State chooses Machen as new CEO
Bear State Financial has chosen Matt Machen, 35, to be its chief executive officer, the Little Rock bank said Wednesday.
Machen, who was president of Bear State before the promotion, replaces Mark McFatridge, who resigned as Bear State's chief executive officer on Saturday. No reason for the resignation was given by the bank.
After McFatridge's resignation, Bear State's board unanimously elected Machen to be the replacement.
Machen joined First Federal Bank in 2011 before Bear State's $46.3 million recapitalization of First Federal. Machen successfully led Bear State's operations in Northwest Arkansas before relocating to Little Rock as chief financial officer. He became president last year.
-- David Smith
Wal-Mart expands learning partnership
Wal-Mart Stores Inc. is offering workers' benefits-eligible family members an opportunity to earn accredited high school diplomas and career certificates through an expanded partnership with Boston-based Cengage.
The education and technology company's Career Online High School program is being offered through Wal-Mart's Lifelong Learning Program. Wal-Mart first partnered with Cengage in June to offer the free program for its employees, but a news release Wednesday said it has been expanded to include eligible family members.
Cengage said about 200 Wal-Mart employees have earned high school diplomas through the program, while 400 others are currently enrolled. The Career Online High School program is part of Wal-Mart's strategy to create opportunities for employees and their families through training, education and workforce development.
-- Robbie Neiswanger
Index picks up 1.04; 13 stocks post gains
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 1.04 to 358.38 Wednesday.
"Financials led the broad market higher Wednesday on increased conviction of rising inflation," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Thirteen stocks in the index rose Wednesday, and five fell.
Shares of Deltic Timber Corp. rose 1.4 percent.
P.A.M. Transportation shares fell 2 percent.
Total volume for the index was 18.1 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 01/19/2017