LITTLE ROCK, Ark. (Arkansas Business) - Stocks ended higher on Tuesday after being driven by more good news from the U.S. housing sector.
Good news in housing sends stocks higher
A report shows that housing prices rose in January at the fastest pace since the summer of 2006, before the housing bubble popped.
The Standard & Poor's/Case-Shiller 20-city price index climbed 8.1 percent.
The report showed that home prices rose in all 20 cities, led by Phoenix, Arizona.
Former chairman, CEO of One Bank & Trust dies
Here in Arkansas, tragic news from the world of banking.
Layton "Scooter" Stuart, the former chairman and CEO of One Bank & Trust, died Tuesday afternoon at St. Vincent Infirmary Medical Center in Little Rock, where he had been taken to the emergency room for respiratory distress.
Stuart, who was 61, had been in the coronary care unit at St. Vincent last week and was taken back to the ER yesterday afternoon.
He was the owner of OneFinancial Corp., the holding company for One Bank & Trust.
Stuart had been under investigation after One Bank's regulator, the Office of the Comptroller of the Currency, ordered an audit of the bank in September.
And in a rare move, the OCC also ordered the bank's directors to strip Stuart of his positions and fire him.
Stuart still retained a 99 percent ownership of One Bank.
Dean of Univ. of Arkansas architecture school resigns
Also Tuesday: Jeff Shannon, the dean of the Fay Jones School of Architecture at the University of Arkansas, has announced he will resign as dean on May 15 to return to teaching.
Shannon's news comes just a few months after the UA announced that Shannon had been reappointed to a five-year term as dean of the Architecture School.
The university did not immediately respond to questions about Shannon's departure.