News in brief

Posted: November 4, 2017 at 1:48 a.m.
Updated: November 4, 2017 at 1:48 a.m.

First National Corp. buys McCrory bank

First National Corp. of Wynne, the parent company of First National Bank of Wynne, has completed its purchase of the Bank of McCrory.

First National Bank agreed in July to buy the McCrory bank, which becomes a branch of First National Bank.

First National now has seven full-service branches in Wynne, Cherry Valley, Forrest City, Harrisburg and McCrory.

After the deal, First National Bank has about $358 million in assets, including the $79 million in assets from the Bank of McCrory.

First National expects to convert the McCrory bank's computer system to the First National system some time early next year. Until then, Bank of McCrory will keep its name but will be re-branded to First National Bank at the time of the conversion.

-- David Smith

Trade with Canada topic of free seminar

A free seminar next week on doing business with Canada will feature a presentation by a Dallas-based Canadian consul and trade commissioner, the Arkansas World Trade Center said this week.

The event is Wednesday and is open to Arkansas businesses, students, faculty and the public. There will also be time for questions and answers during the seminar.

With its low bar for entry, established supply chains and the North American Free Trade Agreement, Canada "has become an alluring market for U.S. business," Delon Chan, consul and trade commissioner of the Canadian Consulate General in Dallas said in a statement.

The seminar is 1:30 p.m. to 4:30 p.m. at the World Trade Center in Rogers. For more information on the event go to the World Trade Center Arkansas website at arwtc.org/business-with-canada or contact Melvin Torres, director of Western Hemisphere trade for the World Trade Center Arkansas at melvint@arwtc.org.

-- John Magsam

Arkansas Index adds 0.38, ends at 378.02

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 0.38 to 378.02 Friday.

Eleven stocks declined and seven advanced.

ArcBest rose 2.2 percent in heavy trading.

Windstream fell 3.8 percent in above-average volume.

For the week, 12 stocks declined and six advanced.

Murphy Oil had the best week, rising 7.9 percent.

Home BancShares saw the biggest drop, falling 5.6 percent.

Total volume for the index on Friday was 28.1 million shares. The average daily volume for the week was 23.5 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 11/04/2017