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Holding their own: bank holding companies perform well again in net earnings per share.

For a second straight quarter, Arkansas' four publicly held bank holding companies dominated the net-earnings-per-share category of the Arkansas Business public company survey.

The holding companies ranked first, second, fifth and seventh. Simmons First National Corp. of Pine Bluff again led Arkansas-based public companies in net earnings per share.

Randy Dennis, a principal with AFS Financial Group in Little Rock, says the holding companies have made smart moves in recent years.

He points to Simmons' expansion into other areas of the state. Simmons' net earnings per share increased to $1.25 for the quarter that ended Dec. 31, compared with $1.14 per share for the quarter that ended Sept. 30.

Net earnings per share increased for all the bank holding companies except Little Rock's First Commercial Corp., which held steady at 17 cents per share.

Dennis says First Commercial has made wise strategic moves in its acquisition of failed thrifts from the Resolution Trust Corp. First Commercial's strategy of buying branches in existing markets and consolidating those branches into its network will pay off in future years, Dennis says.

Increases In Energy

Southwestern Energy Co. of Fayetteville posted gains in net earnings per share, net income and quarterly revenues. Earnings per share increased from 13 cents to 85 cents, net income increased from $1.1 million to $7.3 million and revenues increased from $20.2 million to $43.5 million.

Quarterly net income was down, however, for both of the state's publicly held poultry processors as the recession refused to end.

Tyson Foods Inc. of Springdale saw net income fall from $43 million to $32 million, and net earnings per share fall from 31 cents to 23 cents.

Net income for Hudson Foods Inc. of Rogers fell $4.1 million to less than $1 million, and net earnings per share fell from 28 cents to 1 cent.

Acxiom Corp. of Conway was another company damaged by the recession. Net income fell from $1.9 million to $1.3 million, and net earnings per share decreased from 35 cents to 27 cents.

Housing Addition

Add B.M.P. Development Inc. of Rogers to the list of leading Arkansas home builders published in the Feb. 17 issue of Arkansas Business.

Mark Marquess and Deon Painter own B.M.P. The company had 67 housing starts in northwest Arkansas in 1991 with a construction value of $4.5 million.

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Article Details
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Author:Gibson, Carolyn
Publication:Arkansas Business
Article Type:Industry Overview
Date:Mar 2, 1992
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