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Wed July 24, 2013
Pryor: Arkansas Banks Increase Earnings As National Economy Improves
Senator Mark Pryor says he's encouraged by economic growth in the U.S. and Arkansas.
He says Arkansas’ auto registrations are up 14 percent. He says some local banks are also showing increases in earnings.
“Home bank shares are reporting increases of 14 percent over the second quarter from last year, the ninth straight quarter of record earnings for them. That’s great. Simmons First National reported a 1.5 increase over 2012’s second quarter. Again, we’re seeing growth in the community bank sector which is always a positive,” Pryor said during a conference call with reporters Wednesday.
Regarding the national economy, Moody’s Investor Services raised the U.S. credit rating back up to AAA. Pryor says the reason for the bump is because they see the U.S. budget deficit declining and the improving economy.
“The weekly leading index, which is a measure of future economic growth, rose to its highest level in more than two years,” said Pryor.
Senator Pryor says he knows the economy is not perfect, but that Arkansas and the nation are seeing more good economic news than bad.