Arkansas
State Bank Department

State Banking Board

Meeting Minutes for May 7, 2009

(updated June 4, 2009)

SPECIAL MEETING

OF THE

ARKANSAS STATE BANKING BOARD

 

A special 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             May 7, 2009.  The following Board Member was present in person: Marcus McCain.  The Board Members that participated in the meeting by conference call were:  Chairman John Freeman, Vice-Chairman Creed Spann, Gary Hudson, Charles Smith, and Rodney Parks.  Representing the State Bank Department were Commissioner Candace A. Franks, Deputy Commissioners Luther Guinn and Susannah Marshall, Attorney Brent Taylor, Commissioned Senior Examiner Cara Lank, Support Staff Supervisor Cynthia Nixon, and Management Project Analyst Barbara Mahoney.  Arnie Jochums was present from the Attorney General’s office.  Bill Wright and Pat Burrow were also in attendance.  No representatives from the media were present.

State Bank Commissioner, Candace A. Franks, 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 2, 2009.  The notice was also given to the news media in accordance with state law.

Commissioner Franks opened the meeting by stating the court reporter had not arrived and we were recording this meeting in-house.  Secretary Luther Guinn called the official roll call and declared a quorum was present.  Commissioner Franks then turned the meeting over to Chairman John Freeman.  

On the agenda was an application by Southern Bancorp Bank of Arkansas, Arkadelphia, Arkansas, for the merger of Timberland Bank, El Dorado, Arkansas, with and into Southern Bancorp Bank of Arkansas.  Mr. Bill Wright, Chairman and CEO of Southern Bancorp Bank of Arkansas represented and spoke for the application.  Mr. Wright thanked the Board for the opportunity to come before the Board at this Special Meeting regarding their application to merge Timberland Bank, El Dorado, Arkansas into their organization.  Mr. Wright asked for a continuance from the Board in order to present additional information concerning the application.  He asked the Board if this application could be heard at the Special Meeting, which has been scheduled for June 4, 2009.

Chairman John Freeman requested Marcus McCain to ask if anyone present at the meeting had any objections to the continuance.  No objections were noted.

Based on the information presented, Chairman John Freeman called for a motion for the continuance of the application by Southern Bancorp Bank of Arkansas to merge Timberland Bank with and into Southern Bancorp Bank of Arkansas, to the Special Meeting scheduled for June 4, 2009.  Creed Spann made the motion.  Seconded by Gary Hudson.  Being no opposition, the motion carried and the Commissioner concurred.

Being no other business before the Board, the meeting is in recess until the June 4, 2009 Special Meeting.