Arkansas

Years of branch closures and job cuts are paying off for banks in the form of much-improved efficiency ratios. But with low interest rates still crimping profits, banks remain under pressure to continue reducing expenses.

Groups in North Carolina, Pennsylvania and elsewhere are stepping up efforts to create programs and conferences dedicated to younger bankers, including millennials.

Popular with employees: The "Give a Wow" program allows employees to recognize each other for going above and beyond. Points are awarded and can be used to purchase items from a designated website.

Allied Bank in Mulberry, Ark., has been ordered to immediately raise capital or find a buyer to address its precarious capital position.

The $1.5 billion-asset Equity said in a press release Thursday that it will pay $68.8 million in cash and stock for the $475 million-asset parent of Community First Bank.

The Little Rock, Ark., bank got the final regulatory approval it needed to buy C&S and C1, but not before agreeing to address some community reinvestment concerns in the Atlanta market and elsewhere.

Bank of the Ozarks in Little Rock, Ark., has launched a subordinated debt offering that was well telegraphed to the market but that is smaller than some had anticipated.

Simmons First National in Pine Bluff, Ark., has agreed to buy Citizens National Bancorp in Athens, Tenn.

Truxton Trust's approach is just one strategy banks are using attract more wealthy clients. But whether they are exploring out-of-market opportunities, staying local or employing robo-advisers, banks all have the same goals: to generate more fee income at a time when margins from lending continue to shrink.

Simmons First National in Pine Bluff, Ark., plans to close 10 banks across four states by the end of the second quarter: three branches in Arkansas, four in the Missouri and Kansas region and three in Tennessee.

Profits soared at Bank of the Ozarks in Little Rock, Ark., thanks primarily to its expanding loan portfolio.

"In Northwest Arkansas there are a lot of banks with similar names," Chairman Jon Harrell said in a news release about the rebranding, which includes a new logo and signage. "We wanted a name that would stand out and at the same time it was important to us to not lose sight of our roots."

With energy stocks enjoying the biggest rebound since the beginning of the oil rout, short sellers have shifted their sights to regional banks that do business with the industry.

A dozen banks from Arkansas to Virginia are nearing $10 billion in assets, where they will face higher compliance costs and caps on interchange fees. Mergers among those institutions could create a new class of regional bank.

C1 Financial in Tampa, Fla., was unable to seize an opportunity to bring in more money for its sale to Bank of the Ozarks in Little Rock, Ark.

Several small banks are beginning to offer employer-based loans, a payday loan alternative for under-banked consumers.

FIS in Jacksonville, Fla., has partnered with the Venture Center to create an incubation lab to boost innovation in financial technology.

Bank of the Ozarks in Little Rock, Ark., which has made 15 bank deals since 2010, has raised $110 million in an offering of its common stock.

The $9.3 billion-asset Bank of the Ozarks said in a press release Monday that it will pay $402.5 million, or $25 a share, in stock for the $1.7 billion-asset C1 Financial.

First National Bancorp in Green Forest, Ark., has agreed to buy Twin Lakes Community Bank in Flippin, Ark.