2015-11 Faulkner County Business Journal

NOVEMBER 2015

Arkansas-based Bear State Bank opens first branch in Conway Open house set for Tuesday, Nov. 17 conway chamber of commerce

Armed with a vision to build the strongest, best bank in Arkansas, Bear State Bank has expanded to Conway. The full-service banking center opened Oct. 26, 2015, at 2885 Prince Street.

Bear State Bank has seven employees in Conway, including Chad Russell, Conway market president, and Rita Birch, branch coordinator.

BANK < 4D

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CDC hosts annual banquet conway chamber of commerce

The Conway Development Corporation hosted its annual banquet Tuesday, Nov. 10, at Zimmerman events studio in downtown Conway. Nearly 60 attendees representing the CDC’s member businesses attended.

David Brown, president and CEO of the Greater Omaha Chamber of Commerce, provided insight about economic development initiatives in the Omaha, Nebraska, metropolitan area. Under

his leadership, the Greater Omaha Economic Development Partnership has successfully landed 535 projects, representing 27,571 jobs and more than $5.2 billion in capital investment since 2004.

Organized in 1959, the Conway Development Corporation attracts, retains, and generates jobs, businesses, and economic development in Conway and Faulkner County.

The organization added a membership component in 2013.

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Troy Wells, president and CEO of Baptist Health, said Conway is a “destination for health care.”

Baptist Health CEO: Conway a ‘destination for health care’ conway chamber of commerce

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David Brown, president and CEO of the Greater Omaha Chamber of Commerce, was the guest speaker at the Conway Development Corporation’s annual banquet.

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Jamie Gates, executive vice president, Conway Area Chamber of Commerce and Conway Development Corporation; David Brown, president and CEO, Greater Omaha Chamber of Commerce; and Brad Lacy, president and CEO, Conway Area Chamber of Commerce and Conway Development Corporation.

The top executives of the state’s largest, privately owned, faith-based health system were the featured guests at the Conway Area Chamber of Commerce’s final CEO Luncheon of 2015, held Tuesday, Nov. 10, at Central Baptist College. Troy Wells, president and CEO of Baptist Health, and Doug Weeks, executive vice president and chief operating officer, spoke to the packed room about the health care system and the new Conway hospital.

Wells said rising health care costs and a shortage of nurses, physicians, and other med-

ical professionals create numerous challenges for health care providers.

Baptist Health combats these challenges through collaboration and partnerships, including emphasizing wellness programs. According to Wells, health care costs make up 17.5 percent of the U.S. gross domestic product, and chronic disease is responsible for 86 percent of those costs. He praised Conway-based Nabholz Corporation’s efforts to promote health and wellness in the workplace.

The new Conway hospital will be the ninth hospital for Baptist Health. Baptist Health – Conway will employ

approximately 400, increasing the number of employees in the health system from 8,000 to 8,400. Weeks introduced the Conway hospital’s first eight employees, four of whom currently live in Faulkner County. He also announced that the hospital recently hired its ninth employee – a new administrator. He did not reveal her name because she had not yet notified her current employer.

Baptist Health – Conway will offer a full spectrum of care. Comprehensive services will include labor and delivery, surgical care, cardiac care, orthopedic care, imaging services (MRI,

PET, and CAT), respiratory care, physical therapy, and emergency services. Construction is 45 days behind schedule due to a wet spring and is expected to be completed in late summer 2016.

“Starting from scratch is pretty challenging,” Weeks said.

Wells said Conway is a destination for health care and many other things, and Baptist Health is prepared to be a good community member.

For more information about Baptist Health, including construction updates and a virtual tour of the new Conway facility, visit Baptist-Health. com.

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Sunday, November 15, 2015 — 3D

Arvest Bank hosts Business After Hours conway chamber of commerce

Arvest Bank hosted the Conway Area Chamber of Commerce’s final Business After Hours of 2015 at its newest Conway location.

The full-service branch is located at 621 submitted photo Oak Street.

John Womack, CEO of Arvest in Central Arkansas, addresses the crowd.

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Several door prizes from local businesses were given away, including Julie’s Sweet Shoppe & Bakery, David’s Burgers, Hurley Chiropractic & Wellness Center, and Luyet Computer Co.

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BANK from 1D Russell began his banking career in Conway seven years ago as a commercial loan officer.

He previously worked for the Conway Area Chamber of Commerce as director of membership services and vice president of operations. Birch, a native of Morrilton, has 25 years of banking experience in her hometown and Conway.

“Faulkner County is a growth market for the bank and certainly a place where people want to raise their families,” Russell said. “Bear State Bank wants to get involved in the community and contribute to its continued growth.”

Bear State Financial Inc. is the publicly traded parent company of Bear State Bank. The Arkansas-based institution’s name is based off an early state nickname, “The Bear State,” because of the abundance of black bears in Arkansas.

After a recent acquisition of Missouribased Metropolitan National Bank, Bear State Bank has approximately $2 billion in total assets. Bear State operates 55 branches in three states – 41 throughout Arkansas, two branches in southeast Oklahoma, and 12 branches in southwest Missouri – as well as three loan production offices in Arkansas and one in Missouri.

When driving past the Conway branch, it is clear that the 2,600-square-foot building does not look like the average bank. Russell said the Conway location was selected as a concept branch for Bear State.

The gray and bright green exterior is branded with the Bear State bear.

Upon entering the building, a greeter welcomes customers. The lobby is modern and casual, complete with lounge seat-

ing, a coffee bar managed

by Westrock Coffee, a tech station for charging mobile devices, a Bear State-branded gumball machine, and pop music piping through the speakers. The tellers, known at Bear State as customer advocates, sit around kiosks arranged in a circle instead of standing behind an enclosed teller station.

“We designed this banking center the way it is to be as relational

as possible,” Russell said.

“Our goal is to be interactional, not transactional.”

Bear State Bank will host an open house Tuesday, Nov. 17, from 2-4 p.m. Nate’s Hotdog Haven will be on-site from noon to 3 p.m., followed by a ribbon-cutting conducted by the Conway Area Chamber of Commerce at 2 p.m. and guest appearances from the UCA cheerleaders and UCA Bear mascot as well as Santa and Mrs.

Claus.

As a full-service banking center, Bear State Bank offers personal and business checking and savings accounts, mortgage lending, commercial and consumer loans, and other services. Its free online banking service includes online bill payment, account transfers, e-statements, and FinanceWorks™ – a tool that enables customers to manage all of their accounts in one place, an-

alyze spending behavior, and find ways to save.

Bear State Bank also has free mobile banking services – including an app for iPhone and Android devices – with bill payment, account transfer, and check deposit capabilities.

For more information about Bear State Bank, visit BearStateBank.com. To learn more about Bear State Financial, visit BearStateFinancial.com.

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Honorees named for fourth annual Women in Business Awards conway chamber of commerce

The Conway Area Chamber of Commerce’s fourth annual Women in Business Awards will take place Tuesday, Dec. 1, at Centennial Valley Country Club. The event has already sold out.

For the first time, this year’s awards luncheon will honor Outstanding

Price $410,000 $405,000 $385,000 $320,000 $310,000

Women in Nonprofit in addition to Outstanding Women in Business. The honorees are as follows: Liz Blankenship, Southridge Village Assisted Living Mary Clements, Middleton Heat and Air Tiffany Duhamel, Regions Bank Patti Stobaugh, PattiCakes Bakery/Stoby’s

Address 4545 Sawgrass Cove 31 Majestic Valley Drive 5165 Bay Town 2550 Orchard Park Road 970 Turnberry Dr.

Judi Lively, Bethlehem House (Nonprofit) LaTresha Woodruff, Conway Police Department (Nonprofit) The honorees embody high standards of excellence, dedication and accomplishment to their respective organizations, industries and to the business community.

Pam McDowell of

Beds/Baths Subdivision 5/4/0 Centennial Valley 4/3/1 Majestic Valley 4/3/1 Centennial 4/3/1 Orchard Park 3/2/0 Turnberry

Pam McDowell Properties is the 2015 Diamond Achievement Award winner. This award is presented to an individual with at least 25 years of professional experience who has inspired and empowered many generations of women and who has had a positive impact on those in her pro-

SQFT 4475 4388 3455 3358 2301

Price $418,500 $429,900 $399,900 $325,000 $298,900

fession and in the community.

The selection committee consisted of women executives outside Conway: Mary Wheatley, Rheumatology Research Foundation (Atlanta, Georgia); Kelle Marsalis, Dallas Regional Chamber of Commerce (Dallas, Texas); Kuma Roberts, Tulsa Regional

City Conway Conway Conway Conway Conway

Price/SqFt $93.52 $97.97 $115.75 $96.78 $129.9

Chamber of Commerce (Tulsa, Oklahoma); and Elyse Cullen, North Little Rock Chamber of Commerce (North Little Rock, Arkansas).

Presenting sponsors for Women in Business are UCA Foundation and Simmons Bank. For more information about Women in Business, visit ConwayChamber.org.

Built 2000 2006 2006 1996 2015

Zip 72034 72032 72034 72034 72034

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Faulkner County Business Journal

Conway Economy At a Glance

2015.............................. $136,958,023 2014.............................. $131,858,873

2015...........................................2,987 2014...........................................2,904

Percent Change 3.9 %

Percent Change 2.9%

By Roger Lewis Pulse of Conway

Annual Sales 2014.............................. $176,205,965 2013.............................. $164,519,369 2012.............................. $161,318,563

Annual 2014...........................................2,929 2013...........................................3,002 2012...........................................2,910 2011...........................................2,814

Unemployment Rate September 2015 Seasonally Adjusted US............................................... 5.1% Arkansas.................................... 5.2% Not Seasonally Adjusted US............................................... 4.9% Arkansas.................................... 4.8% Faulkner County....................... 4.5% Conway....................................... 4.3% Sales Tax Collections Conway* August 2015..................................$2,079,803 2014..................................$1,972,633 Percent Change

5.4%

Year to Date (August) 2015................................ $15,736,658 2014................................ $15,139,478 Percent Change

3.9%

Annual 2014................................$23,416,628 2013................................$23,235,891 2012................................$22,944,163 Percent Change 2013-14 0.8% *Tax Rate 1.75%

Faulkner County* August 2015..................................... $752,441 2014..................................... $761,772 Percent Change -1.2%

Year to Date (August) 2015..................................$5,916,239 2014..................................$5,696,228 Percent Change 3.9%

Annual 2014..................................$8,774,109 2013..................................$8,588,835 2012..................................$8,465,686 Percent Change 2013-14 2.2% *Tax Rate 0.5%

Restaurant Sales* September 2015................................$15,525,416 2014................................$14,775,368 Percent Change 5.1%

Year to Date (September)

Percent Change 2013-14 7.1% *Including mixed drink sales

Percent Change 2013-2014 * Total under roof

Percent Change -10.3%

Average Construction Cost* Year to Date (October) 2015..................................... $250,191 2014..................................... $216,826

Hotel Sales September 2015..................................$1,403,566 2014..................................$1,564,158 Year to Date (September) 2015................................$14,113,881 2014................................$15,055,682 Percent Change -6.3%

Annual Sales 2014................................$19,336,169 2013................................$18,559,308 2012................................$18,683,677 Percent Change 2013 – 2014

-2.4%

Percent Change 15.4%

Annual 2014..................................... $220,311 2013..................................... $228,275 2012..................................... $207,537 2011..................................... $204,387 Percent Change 2013 – 2014 -3.5% *Not including lot or lot improvements

4.2%

Real Estate Market* New and Existing Residential Units Sold In Faulkner County Year to Date (August) 2015................................ 1058 Units 2014................................980 Units Percent Change 8.0%

Average Price 2015..................................... $164,266 2014..................................... $155,202 Percent Change 5.8% * sold by realtors Data source: Cooperative Arkansas Realtors Association

Conway Building Permits Single Family Homes Year to Date (October) 2015................................130 Permits 2014................................95 Permits Percent Change 36.8%

Annual 2014................................119 permits 2013................................147 Permits 2012................................186 Permits 2011................................153 Permits Percent Change 2013 – 2014 -19.0%

Average Square Footage* Year to date (October)

Average Construction Cost Per Square Foot* Year to Date (October) 2015.........................................$83.96 2014.........................................$74.65 Percent Change 12.5%

Annual 2014.........................................$75.22 2013.........................................$76.04 2012.........................................$71.33 2011.........................................$72.64 Percent Change 2013 – 2014 -1.1% *Not including lot or lot improvements - total under roof

Lottery Sales Faulkner County Year to Date (October) 2015................................$12,129,907 2014................................$11,965,960 Percent Change

1.4%

Annual 2014................................$14,193,204 2013................................$17,038,277 2012................................$16,943,909

Annual 2014.............................. $401,251,365 2013.............................. $432,932,798 2012 ............................. $452,245,217 Percent Change 2013 - 2014

-7.3%

Total State Lottery Sales Since Inception (October 2009) $2,698,317,336 Natural Gas Severance Tax Distribution Conway Year to Date (November) 2015..................................... $245,535 2014..................................... $340,198 Percent Change

-27.8%

Annual 2014..................................... $363,837 2013..................................... $276,523 2012..................................... $162,523 Percent Change 2013 - 2014 31.6%

All Other Faulkner County Municipalities Year to Date (November) 2015.......................................$61,863 2014.......................................$85,714 Percent Change

-27.8%

Annual 2014.......................................$91,610 2013.......................................$69,671 2012.......................................$40,932 Percent Change 2013 – 2014 31.5%

Faulkner County* Year to Date-(November) 2015..................................... $199,972 2014..................................... $277,131 Percent Change

-27.8%

Annual 2014..................................... $296,411 2013..................................... $224,455 2012..................................... $131,418 Percent Change 2013 – 2014 32.1%

Percent Change 2013 - 2014 -16.7%

Total State Year to Date (October) 2015.............................. $352,949,731 2014.............................. $337,459,237 Percent Change

4.6%

*This is the amount received by the county government and is in addition to that received by the municipalities. **Information provided by Pulse of Conway