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Home BancShares, Inc. Announces Another $0.13 Cash Dividend

CONWAY, Ark., Nov. 30, 2012 (GLOBE NEWSWIRE) — Home BancShares, Inc.’s (HOMB), parent company of Centennial Bank, Board of Directors declared a cash dividend of $0.13 per share payable December 31, 2012, to shareholders of record December 17, 2012. This dividend is in addition to the previously declared regular quarterly cash dividend set to be paid December 5, 2012 and is a result of the likelihood of increased tax rates on dividends in 2013. The Company is still evaluating whether this dividend will be a special, one-time cash dividend or a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013. Either way, it is a dividend that will be paid out of current earnings and profits in accordance with IRC Section 316 and therefore, will be entirely classified as a qualifying dividend for income tax purposes pursuant to Section 1(h).

“By taking this action before year end 2012, we can guarantee our shareholders benefit from the lowest possible dividend tax rates,” said John Allison, Chairman.

Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, the Florida Panhandle and south Alabama. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”

This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.’s financial results are included in its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission.

Contact:

FOR MORE INFORMATION CONTACT:
Brian Davis
Chief Accounting Officer &
Investor Relations Officer
Home BancShares, Inc.
(501) 328-4770

[…]

Walton Big Lake Development L.P. Approves Second Cash Distribution

CALGARY, Alberta–(BUSINESS WIRE)–

Walton Big Lake Development L.P. (the “Partnership”) and its general partner, Walton Big Lake Development Corporation (the “General Partner“) announce that the board of directors of the General Partner has approved a cash distribution on the limited partnership units (the “Units”) in the amount of $2.29 per Unit.

This payment is the second cash distribution to limited partners in the Partnership. Payment will be made on December 14, 2012 to Unitholders of record as of the close of business on December 5, 2012. This distribution follows a cash distribution of $1.00 per Unit made in 2011. Pursuant to the terms of the Limited Partnership Agreement of the Partnership, immediately after the distribution, the Units will be consolidated automatically such that each Unit prior to the distribution will become 0.8005 of a Unit after the distribution, resulting in a total of 1,680,124 Units outstanding. Replacement certificates will not be issued by the Partnership to reflect this consolidation.

Milestones for Phase 1 of the development are behind management’s original schedule as set out in the Partnership’s October, 2010 prospectus. These delays were primarily caused by late regulatory approvals and poor weather conditions. As a result of these delays, the closing of Phase 1 committed lots by homebuilders is anticipated to occur in 2013, thus deferring the receipt of homebuilders’ payments to next year. To ensure that limited partners receive their cash distribution and to meet the prospectus’ objective to provide annual cash distributions, the board of directors of the General Partner approved the Partnership entering into a loan agreement with a company affiliated with Walton Global Investments Ltd. (“Walton Global“), to borrow funds to make the above-referenced distribution to limited partners in 2012. Notwithstanding the delays referred to above, management is of the view that the overall net internal rate of return (“IRR”) objectives and overall anticipated timing of the completion of the project as provided in the prospectus remain accurate.

The Partnership will borrow $5 million from an affiliate of Walton Global at an annual interest rate of up to 10.5%, of which the Partnership will use $4,806,114.60 to distribute to limited partners. The additional $193,885.40 will be used to pay down a portion of the Phase 1 construction loan. The loan will be a demand loan secured by, among other things, a second mortgage on the Partnership’s property. The principal and interest thereunder will be due on December 6, 2015 with the option of the Partnership to extend the loan a further three years provided that the Partnership has not been in default of any of the terms thereof. The loan may be repaid by the Partnership prior to the due date without bonus or penalty. Management anticipates that the Phase 1 construction loan ($11.9 million currently outstanding as at October 31, 2012) and the loan from the Walton affiliate will be repaid by the Partnership by the end of the third quarter of 2013 from the anticipated remaining proceeds of the current contractually committed Phase 1 single family lots (approximately $11.5 million) and the remaining uncommitted Phase 1 single family lots (approximately $8.3 million).

Given the high level of presold lots to builders in Phase 1 and the ability to refinance at a rate below the anticipated net IRR from the project, financing a distribution in this manner is accretive to the net IRR for limited partners.

The loan from the Walton affiliate to the Partnership is a “related-party transaction” under Canadian Securities Regulators Multilateral Instrument 61-101 (“MI 61-101“). The Partnership is exempt from the formal valuation requirements contained in MI 61-101 pursuant to Section 5.5(b) thereof because the Units are not listed on a stock exchange. The Partnership is exempt from the minority approval requirements contained in MI 61-101 because the board of directors of the General Partner has determined that, pursuant to Section 5.7(1)(f) of MI 61-101, the loan from the Walton affiliate is on reasonable commercial terms that are not less advantageous to the Partnership than if the loan were obtained from a party dealing at arm’s length with the Partnership.

Each partner who is a Unitholder of record at the year-end of the Partnership will receive by mail in March 2013, a T5013 from the Partnership, the Partnership’s transfer agent or the Unitholder’s brokerage firm. The T5013 indicates the amount and nature of the taxable income the Unitholder is responsible to report.

The Partnership was established in September 2010 to allow limited partners to participate in the development of the Big Lake Property comprising 136.5 acres of land in Edmonton, Alberta. Marketed under the name “Hawks Ridge at Big Lake,” the property is a three-phase residential development located in northwest Edmonton.

The Walton Group is a multinational group of real estate investment and development companies headquartered in Calgary, Alberta, Canada. Walton’s expertise is the research, acquisition, management and development of strategically located land in major North American growth corridors. With more than 70,000 acres of land under management, the Walton Group is one of North America’s premier land asset managers. Walton manages and/or owns land assets in Phoenix, Austin, Dallas, Atlanta, Charlotte, the Washington, D.C. region, Ottawa, Toronto, Edmonton and Calgary.

For more information about the Walton Big Lake Development L.P., please visit www.sedar.com. For more information about Walton, visit www.Walton.com. For more information about the Hawks Ridge development, visit www.hawksridge.ca.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. The risks, uncertainties and other factors that could influence results are described in the October 2010 prospectus of the Partnership (including under the heading “Cautionary Statements”) and other documents of the Partnership filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Contact:

Walton Big Lake Development L.P.

Blair Nixon

1-403-265-4255

BNixon@Walton.com […]

A Look at Payday Loans & Traditional Installment Loans (TIL)

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Cash seized from loan sharks to be ploughed back into Birmingham community

Consumer watchdogs are set to use thousands of pounds clawed back from loan sharks in a bid to help communities in Birmingham.

The England Illegal Money Lending Team has won back £5,000 from the ill-gotten gains of crooks through proceeds of crime laws and now plans to spend the cash on helping Brummies to become savvy about their cash.

Dozens of projects have applied for a slice of the money, which will be divided between ten of them. Details of the applicants have been put online and the public is now being urged to cast its vote to decide who should win the funding.

Those vying for the cash includes Northfield Town Partnership, which will use the money to run budgeting and debt awareness workshops for residents.

Birmingham’s Citizen’s Advice Bureau in Shard End hopes to win the money to raise awareness of the dangers of loan sharks to families in the area.

And Wylde Green Primary School says it would use the cash to provide money management lessons for parents.

Tony Quigley, head of the team, which has prosecuted more than 210 loan sharks in the last eight years and helped over 19,000 victims, said: “We’ve had some fantastic ideas for this scheme, which will really benefit the community and make a difference in tackling this crime, which can have such a horrendous impact.”

Coun Barbara Dring, chairman of the council’s licensing and public protection committee, added: “We’re pleased to support this innovative scheme and would urge the public to get online and cast their votes to have their say in the how this money, which has been extorted by these criminals, is put to good use.

“We continue to support the team as they crack down on this horrific crime.”

n The public can vote for their favourite schemes by visiting www.surveymonkey.com/s/loansharkmedia today.

The successful projects will then be invited to a presentation ceremony at Birmingham’s Council House on Thursday, December 6, to receive their cheq-ues.

[…]

TEXT-S&P raises ratings in CLO deal CELF Loan Partners V

Nov 30 –

OVERVIEW

— We have reviewed the performance of CELF Loan Partners V by applying our relevant criteria and conducting our credit and cash flow analysis.

— Following our review, we have raised our ratings on the class A, C, and D notes and affirmed our rating on the class B notes.

— CELF Loan Partners V is a cash flow CLO transaction that securitizes loans to primarily speculative-grade corporate firms.

Standard & Poor’s Ratings Services today raised its credit ratings on CELF Loan Partners V Ltd.’s class A, C, and D notes. At the same time, we have affirmed our rating on the class B notes (see list below).

Today’s rating actions follow our assessment of the transaction’s performance using data from the latest available trustee report in addition to our credit and cash flow analysis. We have taken into account recent developments in the transaction and reviewed it under our relevant criteria for structures of this type.

We have noted the partial redemption of the class A notes in 2012. The credit enhancement has increased across all rated classes of notes, compared with our last analysis (see “Ratings Raised On All Classes Of Notes In CELF Loan Partners V Due To Improved Performance,” published Oct (KOSDAQ: 039200.KQnews) . 11, 2011).

Following our analysis, we have observed that the proportion of assets that we rate in the ‘CCC’ category (i.e., rated ‘CCC+’, ‘CCC’, or ‘CCC-‘) has increased to 12.71% of the remaining pool, from 8.34% as of our last review. Over the same period, the percentage of defaulted assets has decreased to 2.20% of the remaining pool from 6.23%. The transaction now has a shorter weighted-average life and higher weighted-average spread.

We subjected the transaction’s capital structure to a cash flow analysis to determine the break-even default rate for each rated class at each rating level. We incorporated a number of cash flow stress scenarios, using various default patterns, in conjunction with different interest-rate and foreign-exchange stress scenarios. As a result of our analysis, we have raised our ratings on the class A notes to ‘AA+ (sf)’, on the class C notes to ‘A- (sf)’, and on the class D notes to ‘BBB+ (sf)’. We have affirmed our ‘A+ (sf)’ rating on the class B notes as the credit enhancement is still commensurate with the current rating.

Deutsche Bank AG (Xetra: 514000news) (A+/Negative/A-1) acts as an account bank and custodian in the transaction. In our view, the counterparty is appropriately rated to support the ratings on these notes (see “Counterparty Risk Framework Methodology And Assumptions,” published on May 31, 2012).

CELF Loan Partners V entered into a number of derivatives agreements to mitigate currency risks in the transaction. We consider that the documentation for these derivatives does not fully comply with our 2012 criteria. Therefore, in our cash flow analysis for scenarios above ‘A+’, we assumed no benefit from the currency options.

CELF Loan Partners V is a cash flow collateralized loan obligation (CLO) transaction that securitizes loans to primarily speculative-grade corporate firms. The transaction closed in June 2008 and is managed by CELF Advisors LLP.

RELATED CRITERIA AND RESEARCH

— Counterparty Risk Framework Methodology And Assumptions, May 31, 2012

— Credit Rating Model: CDO Evaluator 6.0, March 19, 2012

— European Structured Finance Scenario And Sensitivity Analysis: The Effects Of The Top Five Macroeconomic Factors, March 14, 2012

— European Structured Finance Scenario And Sensitivity Analysis: The Effects Of The Top Five Macroeconomic Factors, March 14, 2012

— Global Structured Finance Scenario And Sensitivity Analysis: The Effects Of The Top Five Macroeconomic Factors, Nov. 4, 2011

— Ratings Raised On All Classes Of Notes In CELF Loan Partners V Due To Improved Performance, Oct. 11, 2011

— Nonsovereign Ratings That Exceed EMU Sovereign Ratings: Methodology And Assumptions, June 14, 2011

— Credit Rating Model: S&P Cash Flow Evaluator, Aug. 17, 2010

— Update To Global Methodologies And Assumptions For Corporate Cash Flow And Synthetic CDOs, Sept. 17, 2009

— Understanding Standard & Poor’s Rating Definitions, June 3, 2009

— CDO Spotlight: General Cash Flow Analytics for CDO Securitizations, Aug. 25, 2004

RATINGS LIST

Class Rating

To From

CELF Loan Partners V Ltd.

EUR243.154 Million, GBP70.465 Million, $108.470 Million Floating-Rate Notes

Ratings Raised

A-1 AA+ (sf) AA- (sf)

A-2 AA+ (sf) AA- (sf)

A-3 AA+ (sf) AA- (sf)

C A- (sf) BBB+ (sf)

D-1 BBB+ (sf) BBB- (sf)

D-2 BBB+ (sf) BBB- (sf)

Rating Affirmed

B-1 A+ (sf)

B-2 A+ (sf)

[…]

Payday-Loans-Store.co.uk Gains Attention for Providing Fast and …

Fareham, Hampshire — (SBWIRE) — 11/30/2012 — The current economic situation is one of the worst in recent memory. Although things are slowly improving, a lot of people still face considerable financial hardship. This situation is compounded by the fact that banks and other lending institutions are still incredibly reluctant to lend money. Fortunately, other types of lenders have sprung up to assist people when banks refuse to help. Pay day lenders provide relatively small short term loans to people who have trouble getting credit elsewhere.

One pay day lending website that is getting a lot of attention is Payday-Loans-Store.co.uk, a British pay day lending company which is starting to build an enviable reputation for providing fast, fair and easily obtainable pay day loans.

Applying for a pay day loan through the site is incredibly easy. The entire process is taken care of online, with no paperwork to post away and no faxes to send. Applications are 100% secure and completely confidential.

Payday Loans Store has minimal requirements for borrowers, with no credit check to pass. There aren’t any large, complicated forms to fill in and the whole process can be taken care of within a few minutes. Just a few hours later, a loan of up to £1000 can be deposited directly into a bank account.

A spokesperson for the site said: “It’s incredibly difficult to obtain credit these days. Even borrowers with relatively good credit ratings are being denied overdrafts and loans for fairly small amounts. Banks are enforcing tighter lending criteria than ever. Pay day loans can be a valuable lifeline for those who have been denied credit elsewhere. We provide secure, online pay day loans for people in an emergency situation. Unlike the banks, we have minimal requirements to ensure that anyone can get money when they need it most. We give loans of up to £1000, and the money is often available in just a few hours. The process is incredibly fast and easy, with no paperwork and no faxing. It’s the best way to cover yourself until pay day in case of an emergency, especially if you have a less than perfect credit rating. The money could be with you today if you apply now.”

About Payday-Loans-Store.co.uk
Payday-Loans-Store.co.uk is a British pay day lending service, providing fast loans of up to £1000 in just a few hours. Funds are deposited directly into the borrower’s bank account.

For more information please visit http://payday-loans-store.co.uk/

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