Four former Arkansas bank buildings are coming up for auction soon.
Auction Management Corporation, an Atlanta-based auction firm, is holding an online exclusive auction for the four former bank branches, which are located in Booneville, Trumann, Jonesboro and England. The auction is ongoing with a bid deadline of Wednesday, Aug. 28 at 11 am.
All of the former bank branches are connected to Regions Bank. According to property records, both the Jonesboro and the Booneville properties are former Regions Bank branches. Property records list the Trumann location as both First National Bank of Poinsett County and as Regions Bank. However, the mailing and billing address is listed as Regions Bank in Birmingham, Ala. The England location is listed as being owned by Citizens Bank, but the address is also listed as Regions Bank in Birmingham, Ala.
Over the past year, Regions Financial Corp. has experienced significant drops in its market value. In August 2018, the company’s stock was valued at approximately $19.40 per share. By contrast, on Aug. 15, 2019, Regions’ stock is at $13.66 per share.
The August 2019 valuation is the second-lowest it has been in the past year. In December 2018, it dipped to its lowest value at roughly $12.57 per share, and in March, it declined to $13.53 per share.
The Booneville property, located at 127 East Main Street,is available for inspection on Wednesday, Aug. 21 at 10 a.m. The Trumann property, located at 825 Hwy. 463 North, can be viewed on Thursday, Aug. 22 at 2 p.m. The Jonesboro property, located at 4902 E. Nettleton Ave., is available for inspection on Thursday, Aug. 22, at 10 a.m. The England property, located at 100 S. Allis St., can be inspected on Wednesday, Aug. 21, at 10 a.m.
According to the auction company, the auction will accept the highest bid, regardless of price. A 10 percent buyer’s premium is applied to all transactions, which must close in 20 days.