Arkansas Business: Coach Bielema's Wisconsin home still for sale

    6:34 AM, Jul 8, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- Investors take an optimistic outlook on jobs on Friday after the government reported that the country added 195,000 jobs in June, a bigger gain than expected. Still it was a light trading day, owing to the Thursday Fourth of July holiday.

    Second-quarter earning season underway

    Looking ahead to this week, second-quarter earning season underway again, with aluminum-manufacturer Alcoa set to report today after the market closes.

    And on Friday, we'll hear from two of the country's biggest banks: JP Morgan and Wells Fargo.

    Dallas company to purchase Metropolitan National Bank

    Speaking of banks, another big banking deal is underway in Arkansas. In the last two weeks, we've seen key acquisitions by Home BancShares of Conway and First Federal Bancshares of Harrison.

    Now, Metropolitan National Bank of Little Rock is involved in its own deal.

    The company announcing Friday afternoon that a Dallas investment fund called Ford Financial Fund II has signed a definitive agreement to purchase Metropolitan and recapitalize the bank, which has struggled amid losses tied to loans in northwest Arkansas.

    Metropolitan's parent company filed for Chapter 11 bankruptcy reorganization on Friday to facilitate the sale. Ford Financial Fund has offered $16 million for 100 percent of the Metropolitan National Bank stock.

    If all goes well, the sale could be complete by September.

    Coach Bielema's Wisconsin home still for sale

    And finally, University of Arkansas football coach Bret Bielema is still looking to sell his 6,000-plus square foot home in Fitchburg, Wisconsin.

    Bielema is asking $995,000 for the four-bedroom, seven-bath property in the suburb of Madison, Wis.

    Bielema, who was hired at the University of Arkansas from the University of Wisconsin in December, listed the house for sale in February.

    Even with that home on the market, Bielema and his wife, Jen, found a place to live in Fayetteville.

    They bought a $1.5 million home in Bridgewater Estates this spring. Neighbors include Razorback basketball coach Mike Anderson and baseball coach Dave Van Horn.

    Bielema is paid $3.2 million a year at Arkansas and is the fourth highest-paid coach in the Southeastern Conference.

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