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ARKADELPHIA, ARK – Southern Bancorp, Inc., a Community Development Financial Institution (CDFI) and holding company for Southern Bancorp Bank, today announced that it has closed on its acquisition of DeWitt First Bankshares Corporation and its wholly owned subsidiary, Arkansas County Bank. The acquisition, which was announced in January 2021, closed on May 14 th, adding three new bank branches to the Southern Bancorp network, two in Arkansas County (DeWitt and Stuttgart) and one in Sevier County (Lockesburg), bringing the total number of locations in Arkansas and Mississippi to 52. “We are grateful for the opportunity to join the DeWitt, Stuttgart, and Lockesburg communities and introduce our new team members and customers to Southern Bancorp’s mission-driven style of banking,” said Southern Bancorp Inc. CEO Darrin Williams. “Our blend of traditional banking products and financial development services such as credit and housing counseling and financial education ....
The natural gas storage report from the EIA for the week ending April 23rd indicated that the amount of natural gas held in underground storage in the US rose by 15 billion cubic feet to 1,898 billion cubic feet by the end of the week, which left our gas supplies 302 billion cubic feet, or 13.7% below the 2,200 billion cubic feet that were in storage on April 23rd of last year, and 40 billion cubic feet, or 2.1% below the five-year average of 1,938 billion cubic feet of natural gas that have been in storage as of the 23rd of April in recent years..the 15 billion cubic feet that were added to US natural gas storage this week was more than the average forecast of a 9 billion cubic foot addition from an S&P Global Platts survey of analysts, but measured well below the average addition of 67 billion cubic feet of natural gas that have typically been injected into natural gas storage during the same week over the past 5 years, as well as well below the 66 billion cubic feet added to na ....
Send In a landmark development for Arkansas taxpayers, Act 586 of the 2021 General Assembly creates an independent Arkansas Tax Appeals Commission. The commission will provide a neutral panel of tax professionals to hear and resolve taxpayer disputes with the Department of Finance & Administration. It will be established by July 2022 and will begin hearing cases in January 2023. Current DF&A Appeal Process Taxpayers now appeal a DF&A proposed assessment or claim denial to the DF&A’s Office of Hearings & Appeals, where the case is heard by an administrative law judge. There is also a secondary internal appeal to the secretary of the DF&A, the secretary’s revision, which is typically heard in practice by the commissioner of revenue. This internal appeal process will be replaced by the commission. ....
Government transformation apparently fell short on franchise tax change Government transformation apparently fell short on franchise tax change Governor Hutchinson’s touted Advertisement There’s a discussion of earlier legislative audit findings that savings in expenses haven’t been so great, job eliminations haven’t been significant and real estate shuffles have produced a tiny lease savings (not counting significant moving costs), but emptied some state buildings as the state moved to fill buildings that didn’t need to be bought (and incurred $43 million in debt to buy.) So there’s that. Now there’s a specific example of an apparent “transformation” effort that will require legislation to fix. ....