Arkansas
State Bank Department

State Banking Board

Meeting Minutes for January 17, 2008

(updated July 21, 2008)

A regular meeting of the Arkansas 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 January 17, 2008.  The following Board Members were present:  Vice Chairman Elmer Flucht, Marcus McCain, John Freeman, and Creed Spann. Chairman David Short was called by phone and participated in the meeting by a conference call.  Representing the State Bank Department were Commissioner Candace A. Franks, Deputy Commissioners Luther Guinn and Susannah Marshall, Management Project Analyst Barbara Mahoney, Bank Review Administrator Richard Plotkin, and Examiner Trainees Chris Davis and Brandon Mathis.  Cheryl Dees from Bushman Court Reporting was the recording reporter for the applicant.  Arnold Jochums was present from the Attorney General’s office. No representatives from the media were present.

Commissioner Franks opened the meeting.  Secretary Luther Guinn declared a quorum was present.  Commissioner Franks then asked the visitors and guest to stand and introduce themselves and state who they represent.  She then turned the meeting over to Chairman David Short.

Chairman Short announced that the first order of business was the election of a new Chairman and Vice Chairman for the coming year.  A motion was made by Creed Spann, seconded by Elmer Flucht, to elect Marcus McCain as Chairman and John Freeman as Vice Chairman for the year 2008.  The motion passed unanimously and the Commissioner concurred.

Next on the agenda was consideration of the Minutes of the October 25, 2007 Special Board Meeting.  A motion was made by John Freeman, seconded by Creed Spann, to approve the Minutes as presented.  Motion carried and the Commissioner concurred.

Next was approval of expenses for the Board.  A motion was made by David Short, seconded by Elmer Flucht, to approve the Board’s expenses.  Motion carried and the Commissioner concurred.

Next on the agenda was an application by Centennial Bank, Kingsland, Cleveland County, Arkansas, for the relocation of a main banking facility from 140 First Street, Kingsland, Cleveland County, Arkansas, to 8201 Cantrell Road, Suite 140, Little Rock, Pulaski County, Arkansas.  Randy Dennis with DD&F Consulting Group, Little Rock, Arkansas, represented and spoke for the applicant.

Mr. Dennis stated that Centennial was acquired by Home BancShares Group and this step of the process is relocating the home office from Kingsland to the present office in Little Rock.  Mr. John Olaimey of Centennial Bank stated that all of the bank’s officers and the majority of the bank’s growth has been in the Little Rock market.  He further stated that the bank was still very favorable on the southern markets.  Vice Chairman John Freeman asked if the Kingsland community would be maintaining its current level of service.  Mr. Olaimey stated there would be no interruption of service whatsoever.

A motion was made by John Freeman, seconded by Creed Spann, to approve the application, the motion carried and the Commissioner concurred.

Being no further business, a motion was made by Elmer Flucht, seconded by Creed Spann, to adjourn.  Motion carried.

 

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