Cronin retires after 52 years of serving clients. April 29, 2026 BY JEFF HOGAN 810-452-2640 [email protected] LAPEER - Pat Cronin, 72, will retire Thursday, April 30 after a 52-year career selling State Farm insurance and running an agency from an office on North Court Street in downtown Lapeer. Also retiring Thursday is Donna Smith, who has served as Cronin's office manager for 43 years. When he started his business in 1974 at age 20, he had [...]

College of Business inducts alumnus Steve Ratcliff into Hall of Fame. Steve Ratcliff, right, and College of Business Dean Nathan Campbell Steve Ratcliff, a Henderson State University alumnus and native of Malvern, became the newest member of the College of Business Hall of Fame during an awards ceremony April 16. Ratcliff joins a distinguished list of inductees who have experienced great success after earning their degrees at Henderson. He built a highly successful career spanning more than five decades in manufacturing, the chemical industry, global sourcing, and entrepreneurial leadership. After earning his marketing degree from Henderson, Ratcliff joined Allied Chemical (later Honeywell), where he spent more than 20 years in sales, product management, and executive leadership. In 2000, he returned to Arkansas to join Tarco, where he led the company into a new roofing segment that transformed the business. He also invested in and led entrepreneurial ventures, including a rapidly growing compounding pharmacy operation. Ratcliff said he credits much of his success to the foundational education he received at Henderson State and the many mentors who guided him along the way. Young Alumni Award Jazz Scott received the Young Alumni Award. Scott transitioned into finance after graduating from Henderson State in 2010 with a business administration degree and a master's in sport administration in 2012. He gained experience at Stephens Inc., Crews & Associates, and Stifel, with a focus on investment banking. Rising Star Award Yurik Paroubek was honored with the Rising Star Award. Paroubek joined Arvest Bank in 2018 following the acquisition of Bear State Bank where he served as chief technology officer and director of operations. He now serves as Arvest's chief operating officer. He earned his finance degree from Henderson in 2006. Business of the Year Roger Wingfield's State Farm agency in Arkadelphia was named the Business of the Year. Wingfield opened his agency in 2024, continuing a family legacy built over decades of service. In his first year, the agency earned the top new agency ranking in the country. He earned his Bachelor of Business Administration degree from Henderson in 1996. Outstanding Student Awards Six Henderson business students received Outstanding Student awards during the event, including: * Connor Brown, a senior business administration major from Benton. * Levi Cherry, a junior business administration major with a concentration in management, from Murfreesboro. * Grayson Fairless, a senior business administration major from Mena. * Isabella Licciardi, a senior business administration major with a concentration in management, from El Dorado. * Anthony Nannemann, a senior business management major from Poyen. * Alexandria Wesson, a senior business administration major with a concentration in finance, from Bismarck. Scholarships The following scholarships were also announced: * Melody Hudson, BKD Accounting Scholarship * Trey Toatley, Brenda & Lee Richardson Scholarship * Gina Bennett, Bill and Eunice Harrington Scholarship * Levi Cherry, Brookshire's Scholarship * Aaren Moore and Alexandria Wesson, Christopher M. Wewers Business Scholarship * Jenna Heindselman, Deborah & William Nolan Scholarship * Tayden Drake, Dr. Louis Dawkins School of Business Scholarship * Jordyn Morris, Ethan M. Thompson BBA Scholarship * Noah Carpenter, Hendershot-Lacy Scholarship * Tayden Drake, Lois Dodson Business Scholarship * Abigail Pence, Oscar & Eathel Greenberg Scholarship * Layton Bass, Mika Bean, Micah Greene, and Madolyn Kost, Sam & Judy Barker Scholarship * Abigail Pence, Stella Spoon Accounting Scholarship * Dai'Veon Parham, Tad & Judy Krug Scholarship * Jakobi Scott, The Robert C. "Bob" Fisher Scholarship * Mariyah Easter, Tracy Duke Scholarship * Jared Campbell, Southern Bancorp Outstanding Finance Student Scholarship * Abigail Ragsdale, Ross Godwin Outstanding Marketing Scholarship * Marcos Park, Robert G. Edwards Scholarship * Edward Lopez, Print Mania Business Management Scholarship * Jayden Alston, Oren Harris Outstanding Business Law Student Award * Carl Friborg, John and Kimberly McFarland MBA Scholarship * Dereon Burns, Derrius Burns, Markavious Justice, Kristin Sasser, and Victor Serrano, Fauline Frazier Business Scholarship * Abigail Ragsdale, Daryl & Mary Muslow Scholarship * Abigail Pence, Christopher Castleberry Foundation Scholarship. * Brayden Wagner, Steven Daily Scholarship Beta Gamma Sigma inductees * Levi Cherry * Bayli Fillinger * Dawson Goines * Vivian Jones * Anthony Nannemann * Alexandria Wesson Jazz Scott, from left, Yurik Paroubek, Steve Ratcliff, and Roger Wingfield Outstanding students, from left: Connor Brown, Levi Cherry, Grayson Fairless, Isabella Licciardi, Anthony Nannemann, and Alexandria Wesson. Scholarship and award recipients.

State Farm reaches $15.58M settlement in Arkansas total loss valuation case. Court grants preliminary approval in class action alleging improper vehicle valuation methods tied to third-party reports. Jason Stahl has 32 years of experience as an editor, 25 of which is in B2B media, and has been editor of BodyShop Business for the past 20 years. From Cleveland, Ohio, Stahl earned a bachelor of arts degree in English from John Carroll University and started his career in journalism at a weekly newspaper, doing everything from delivering newspapers to selling advertising space to writing articles. Published: April 9, 2026 An Arkansas federal court has given preliminary approval to a proposed $15.58 million settlement involving State Farm in a class action case alleging the insurer undervalued total loss vehicle claims. The case was first brought in 2021 by Rose Chadwick in the U.S. District Court for the Eastern District of Arkansas. Chadwick sought to represent a group of Arkansas policyholders whose total loss settlements were calculated using valuation reports produced by Audatex North America. The lawsuit alleged that reliance on these reports resulted in systematically reduced actual cash value (ACV) payments due to the application of so-called "typical negotiation adjustments." According to the complaint, these adjustments reduced the listed prices of comparable vehicles without evidence that such discounts were realistically obtainable. The filing argued that the practice relied on the assumption that consumers could routinely negotiate lower prices for used vehicles - an assumption the plaintiffs contended did not reflect actual market conditions during the relevant time period. Chadwick further asserted that these downward adjustments conflicted with accepted appraisal standards, which generally require valuation changes to be supported by observable and verifiable market data rather than unsupported assumptions. The dispute ultimately proceeded to trial, where Chadwick secured a favorable verdict on behalf of the class, subject to certain limitations related to State Farm's waiver defense. On March 27, 2026, U.S. District Judge D. P. Marshall Jr. issued an order granting preliminary approval of the settlement. In the order, the court described the litigation as extensive and hard-contested, noting that the agreement followed both the jury's findings and additional discovery focused on unresolved issues. As defined by the court, the settlement class includes Arkansas residents who filed first-party total loss claims with State Farm between Nov. 29, 2016, and Oct. 18, 2021, where claim payments were based on Audatex reports that applied at least one typical negotiation adjustment to comparable vehicles. Under the terms of the agreement, State Farm will fund the settlement amount while also covering attorney's fees, litigation expenses and a service award for the class representative. The insurer has additionally agreed to pay for notice and administrative costs associated with the settlement process. The order emphasizes that the settlement does not represent an admission of liability or wrongdoing by State Farm. The company continues to deny the allegations and maintains that its valuation practices were appropriate. A final approval hearing has been scheduled for July 15, at which time the court will determine whether to grant full approval of the settlement.