Arkansas News Bureau - Home BancShares discloses $2.1 million fraud

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Home BancShares discloses $2.1 million fraud
Wednesday, Jul 9, 2008

Arkansas News Bureau

LITTLE ROCK - Home BancShares Inc. on Tuesday disclosed an apparent $2.1 million embezzlement at one of its subsidiary banks.

The Conway-based bank holding company contended a senior officer was responsible and said the officer has been fired.

"The apparent fraud has not resulted in any loss except for the $100,000 insurance deductible which we accrued for in the second quarter of 2008," the company said in a filing with the Securities and Exchange Commission.