The line is open. How’d your working year start?
* Not such a hot start for Home Banchshares, which announced it anticipated $60 to $65 million in loan losses. About half of some $53 million in troubled loans in Arkansas and Florida were said to be a related to a single Arkansas borrower,Roby Brock reports at Talk Business. The institution, parent of Centennial Bank, also got stuck with $3 million of those fraudulent improvement district bonds that have stung other banks and brought down a bank in Batesville.
The identity of the problem borrower wasn’t revealed. A wholly uninformed guess is that it might be related to this tangled legal mess. But the bank also has loans with the peddler of the dubious bonds.