The Great Seal of Arkansas
The State Bank Department was created by Act 113 of 1913. The Department is charged with regulating commercial banks with main offices in Arkansas. These banks and other entities hold assets in excess of $48 billion. The Department also is charged with supervising the bank holding companies of Arkansas state-chartered banks; state-chartered trust companies; regional and county industrial development corporations; industrial loan institutions; capital development companies; and Arkansas Capital Corporation, which is a state-chartered non-profit organization. The Department operates to ensure the safety and soundness of, and public confidence in, these institutions.
Governor-Elect Hutchinson issued the following statement:
“Candace has done an exceptional job throughout her 35 years of service with the Arkansas State Bank Department. From her start as Chief Counsel to the last eight years as Commissioner, Candace’s work and leadership has been exemplary. Her knowledge of the department and her breadth of experience have made her the ideal choice to lead the ASBD, and I am pleased to announce she has agreed to continue serving in her current role as commissioner in my administration.”