Pocahontas Bancorp to Buy Newport Bank. (Inside Business).(North Arkansas Bancshares Inc.)(Brief Article)(Statistical Data Included) From: Arkansas Business | Date: November 26, 2001 | COPYRIGHT 2001 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Pocahontas Bancorp Inc. of Jonesboro will buy North Arkansas Bancshares Inc. of Newport in a deal valued at $15 a share, or about $4.4 million.

The boards of both banks have approved the deal.

Pocahontas Bancorp Inc. is the holding company for First Community Bank, and North Arkansas Bancshares Inc. is the holding company for Newport Federal Savings Bank.

The deal is expected to close in the second calendar quarter of 2002. When completed, Pocahont...