MEMBER NEWS St. Louis Fed Little Rock Branch Announces Changes to Board of Directors The Federal Reserve Bank of St. Louis has announced the following changes to its Little Rock Branch board of directors, effective January 1, 2016:
Robert Martinez, owner of Rancho La Esperanza in De Queen, Ark., has been reappointed to a three-year term on the board of directors of the Little Rock Branch of the Federal Reserve Bank of St. Louis. Charles Morgan Jr., president and CEO of Relyance Bank N.A. in Pine Bluff, Ark., has been appointed to a threeyear term on the board of directors of the Little Rock Branch of the Federal Reserve Bank of St. Louis. Chairman of the Little Rock Branch board of directors for 2016 will be Ray C. Dillon,
president and CEO of Deltic Timber Corp. in El Dorado, Ark. Also serving on the board are: Michael A. Cook, senior vice president and assistant treasurer of Wal-Mart Stores Inc. in Bentonville, Ark.; Keith Glover, president and CEO of Producers Rice Mill Inc. in Stuttgart, Ark.; Karama Neal, COO of Southern Bancorp Community Partners in Little Rock; and Mark White, president and CEO of Arkansas Blue Cross Blue Shield in Little Rock. Members of the board of directors of the Federal Reserve Bank of St. Louis and the advisory boards of its three branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn., are familiar with the economic and credit conditions of their respective regions. Their observations – along with the economic data and information gathered and analyzed by St. Louis Fed staff – help ensure that conditions of Main Street America are represented in Federal Open Market Committee deliberations in Washington, D.C.
The Citizens Bank Approved to Acquire Parkway Bank Phil Baldwin, President and CEO of The Citizens Bank announced that regulatory approval has been granted for Citizens Bancshares of Batesville, Inc., parent company of The Citizens Bank headquartered in Batesville to acquire Parkway Bank of Rogers, Arkansas. The transaction closing is effective immediately; however Citizens Bank and Parkway Bank will continue to operate separately under their current names until their banking systems can be consolidated, which is scheduled for mid-summer of 2016. Customers of both banks should continue to conduct business as usual at their existing bank locations and should continue to use their same checks, debit cards, and online banking services until further notice. Customers can contact their local office with any questions. “We are pleased to have regulatory approval to move forward with our merger of these two community banks,” stated Phil Baldwin, President and Chief Executive Officer
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The Arkansas Banker | January 2016
of Citizens Bank. “This is an excellent opportunity for Citizens to expand and enhance its existing bank franchise in Arkansas.” “Customers will not experience any changes at this time, which includes the Parkway staff and management,” Baldwin added. In a previous release it was announced that Bob Taylor, former President and CEO of Parkway Bank will remain with The Citizens Bank in the position of Northwest Arkansas Regional CEO to assist with integration activities and customer relations in Northwest Arkansas. After integration is complete, Taylor will become Executive Credit Officer with bank wide responsibility for lending activities and credit decisions. With this transaction The Citizens Bank will have total assets of over $750 million and 16 branch locations in Arkansas. To learn more, visit The Citizens Bank’s website at www. thecitizensbank.net.
‘America Saves Week’ Set for February 22-27 The ABA is encouraging Arkansas banks to take part in the tenth annual “America Saves Week,” taking place February 23-28, 2016. Coordinated by America Saves and the American Savings Education Council, “America Saves Week” is an opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. Individuals turn to banks to keep their money safe and secure, and for information on how to better their financial wellbeing. The ABA encourages banks to take advantage of this opportunity by sharing consumer resources including savings tips and budgeting materials. Log on to www.americasaves.org for details.
ARKANSAS BANK DEPARTMENT
APPLICATIONS & APPROVALS
Branch Bank Application An application filed by Diamond Bank, Murfreesboro, Pike County, Arkansas, to establish a branch banking facility at 2215 East Parkway Drive, Russellville, Pope County, Arkansas, has been approved. December 21, 2015. Merger Application An application to merge Parkway Bank, Rogers, Arkansas, with and into The Citizens Bank, Batesville, Arkansas, has been approved. December 16, 2015.