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Is First Exchange for sale?

Reports keep circulating in the banking community that First Exchange Bank of Little Rock is on the block.

"Some folks have expressed an interest in buying the bank," says Guy Humphries.

But he won't name names.

Humphries replaced Randy Johnson as president and chief executive officer of the bank last year. Johnson's exodus from First Exchange followed a net loss of $931,000 during the first three quarters of 1991. Assets and deposits fell to $25.9 million and $24 million, respectively.

The bank, which began operations in 1989, is still trying to make a profit.

Its past performances read this way:

* 1990: assets of $28.5 million, deposits of $25.6 million and a net loss of $5,000.

* 1989: assets of $21.8 million, deposits of $18.8 million and a net loss of $127,000.
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Title Annotation:First Exchange Bank of Little Rock N.A.
Publication:Arkansas Business
Article Type:Brief Article
Date:Feb 17, 1992
Words:138
Previous Article:Are they covered?
Next Article:Back to the future.
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