Sam Walls is retiring after 24 years as head of Arkansas Capital Corp., a private business lender that has encouraged business development in Arkansas through a variety of lending and tax credit programs.
Details follow. No word on his permanent successor or if Rush Deacon, the acting chief executive, is a candidate.
Sam Walls, who served as the chief executive officer of The Arkansas Capital Corporation Group, has retired after 24 years of service.
“I truly believe that the intersection of my path with this company was an extraordinary event,” Walls said. “I needed this company and it needed me. And as I enter retirement, my greatest hope is that the culture and personality I have cultivated will carry on and grow.”
Under Walls leadership, The Arkansas Capital Corporation Group expanded its lending activities to grow from an organization that managed a small portfolio of business loans to an organization that has facilitated more than $1.4 billion in loans to Arkansas businesses. Walls also diversified the organization to include entrepreneurship education, New Markets Tax Credit allocations, high-speed Internet advocacy and a program facilitating foreign investment in Arkansas. Walls was the visionary behind the Donald W. Reynolds Governor’s Cup collegiate business plan competition, which has awarded more than $2 million in cash prizes to students and faculty since its inception in 2001.
Rush Deacon, who has served as Chairman of the Board of Arkansas Capital Corporation, is now serving as the acting chief executive officer for the company
“Sam’s commitment to the businesses, entrepreneurs and students of this state is without precedent, and he always conducted himself with the highest level of integrity and dedication while empowering those who worked both for and with him,” said Deacon. “The company has an excellent team of professionals, and I look forward to working with them to foster the organization’s spirit of creativity, innovation, and entrepreneurship that Sam created.”
Arkansas Capital Corporation Group is a privately held group dedicated to improving the lives of Arkansans. Arkansas Capital Corporation Group and its affiliate companies empower entrepreneurs by providing capital to businesses through its capital availability programs and advocating for entrepreneurs through capital, educational and technological improvements. The Arkansas Capital Corporation Group serves as the platform from which new opportunities are launched and today includes eight affiliates including Arkansas Capital Corporation, Six Bridges Capital Corporation, Arkansas Capital Relending Corporation, Arkansas Economic Acceleration Foundation, Diamond State Ventures, Heartland Renaissance Fund, Connect Arkansas, and Pine State Regional Center. To learn more, visit www.arcapital.com.