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A banker, a baker and a promissory note paper.

A Banker, A Baker And Promissory Note Paper

Walden intends to buy the bank stock through the acquisition of Baker Financial Corp., the holding company for Planters and Stockmen Bank. Robert T. Baker of Imboden, president of Baker Oil Co., is a bank director and head of Baker Financial Corp.

The holding company reported total income of $222,601 and a net loss of $13,700 in 1988. That compares with $393,041 total income and $314,218 net income in 1987.

If the sale is consummated, Baker won't be seeing any of the cash. First Commercial Bank will be accepting payment as a credit toward a $2,775,000 promissory note that Baker secured in October 1985 using his bank stock as collateral.

That'll leave a principal balance of about $269,822 outstanding on the note, which First Commercial and Baker will have to resolve.
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Title Annotation:Whispers; Robert T. Baker of Baker Financial Corp.
Publication:Arkansas Business
Date:Jan 1, 1990
Words:146
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