Call it a loose end in the estate of Gaylon Lawrence Sr. Ownership of the $83.8 million-asset Piggott State Bank in Clay County is passing to his son, Gaylon Lawrence Jr. of Memphis.
The change comes about four years after the death of the elder agribusinessman and bank owner, who graduated from Piggott High School in 1951 and later made his home in Sikeston, Missouri.
The Lawrence family’s controlling ownership of Piggott State back dates back more than 30 years and marked its entry into banking.
In addition to building one of the largest family farm operations in the nation, the Lawrence family extended its banking interests to $462 million-asset Farmers Bank & Trust of Blytheville and beyond Arkansas.
Out-of-state holdings now include three banks in southeast Missouri: First Missouri Bank of SEMO in Kennett, First Missouri State Bank of Poplar Bluff and Cape Girardeau and one in Tennessee: F&M Bank of Clarksville.
Combined assets of the six banks: about $1.9 billion.
Piggott State Bank
| Total Assets* | Total Loans* | Cash Dividend* | Net Income* | ||
| 2015 | $84,939 | $29,978 | $532 | $1,030 | |
| 2014 | $80,216 | $28,322 | $2,293 | $637 | |
| 2013 | $78,676 | $26,465 | $541 | $923 | |
| 2012 | $82,585 | $25,418 | $900 | $1,203 | |
| 2011 | $78,340 | $27,031 | $850 | $1,143 | |
| 2010 | $75,349 | $26,904 | $832 | $1,115 | |
| 2009 | $74,025 | $26,773 | $815 | $1,095 |
*In thousands at year end