Arkansas
State Bank Department
State Banking Board
Meeting Minutes for
June 5, 2003
(updated
August 28, 2003)
A
special meeting of the State Banking Board was held in the conference room of
the Arkansas State Bank Department, 400 Hardin Road, Suite 100, Little Rock,
Arkansas, at 10:00 a.m. on Thursday, June 5, 2003. The following Board Members were
present: Vice Chairman David Bartlett,
Charles Mazander, Gus Rusher, David Short, and Margie Russ. Representing the State Bank Department were
Deputy Commissioners Don R. Clark and Candace Franks, Management Project
Analyst Cynthia Nixon, Administrative Assistants II Barbara Mahoney and Marilyn
Myers, Assistant Chief Examiners Wilks Marshall and
Larry Hillyard, and Senior Commissioned Examiner
Richard Plotkin.
Lynn Perkins from
State Bank Commissioner Frank White called this special
meeting of the State Banking Board.
Notice of the special meeting was sent by regular mail to each member of
the State Banking Board on April 30, 2003.
The notices were also given to the news media in accordance with state
law.
Deputy Commissioner Candace Franks opened the
meeting. Secretary Don R. Clark declared
a quorum was present. Deputy
Commissioner Franks asked the visitors and guest to stand and introduce themselves and state whom they represent. She then turned the meeting over to Vice
Chairman David Bartlett. Mr. Bartlett
commented on the untimely death of Bank Commissioner Frank White. He then recognized Margie Russ as our new
member of the State Banking Board. He
then introduced Bunny Adcock who will be replacing Commissioner White.
First on the agenda was consideration of the Minutes of
the May 1, 2003, Special Board Meeting.
A motion was made by Gus Rusher, seconded by Charles Mazander,
to approve the Minutes as presented.
Motion carried and Deputy Commissioner Franks concurred.
Next was approval of expenses for the Board. A motion was made by Charles Mazander, seconded by David Short, to approve the Board’s
expenses. The motion carried and Deputy
Commissioner Franks concurred.
Next was election of a new Chairman and Vice Chairman of
the Board. A motion was made by David
Short that David Bartlett be elected Chairman and Gus Rusher Vice
Chairman. The motion was seconded by
Charles Mazander, motion carried and Deputy Commissioner Franks concurred.
At this point Chairman Bartlett explained that Ted Skokos has resigned from the State Banking Board due to his
business move outside the state of
Next on the agenda was an application by The Bank of
Jonesboro, Jonesboro, Arkansas, for the merger of MidSouth
Bank, Jonesboro, Arkansas, with an into The Bank of Jonesboro. Randy Dennis of DD&F Consulting Group in Little Rock
represented and spoke for the application stating he was representing Liberty
Bancshares, Inc. of Jonesboro. He
explained the application stating this stage will be the merger of The MidSouth Bank into The Bank of
Next on the agenda was an application by Bank of the Ozarks,
Next was
consideration of a charter amendment for the Bank of Bearden,
“Third: The amount of the authorized capital stock of this
bank
shall be $8,300.”
“Fourth: The capital stock of this bank shall be divided into
8,800
shares of the par value of $1.00
each.”
A motion was made by David Bartlett, seconded by Charles Mazander, to approve the charter amendment. Motion carried and Deputy Commissioner Franks concurred.
Next was adoption of resolutions for former Board Member Bob Douglas, Ted Skokos and Commissioner White. A motion was made by Charles Mazander, seconded by David Bartlett, to adopt the resolutions as read. Motion carried and Deputy Commissioner Franks concurred. [See copy of appendage to these Minutes.]
At this point, Chairman David Bartlett asked Mr. Adcock to speak. He thanked the Board and asked them for their help. He stated several bankers have called and complimented the Bank Department on their work and accomplishments. He noted it is good to come aboard an organization that does not have problems. He said he was excited about the job and has made a commitment to visit each state chartered bank. Mr. Rusher stated he has known Bunny longer than anyone and he is the man for the job, will do a good job for the banking industry, and will be good for the Bank Department. He then welcomed the Commissioner aboard.
Deputy Commissioner Franks introduced Bank Senior Examiner Richard Plotkin who presented a slide presentation about the
condition of
All business attended to, the meeting was adjourned.