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Arkansas State Bank Department

The mission of ASBD is to maintain a legal and regulatory structure for Arkansas's financial industry. This structure provides the public with convenient, safe and competitive banking, which fosters economic development within this State. Our mission is accomplished through efficient allocation of available human and other resources existing in our Examination, Information Technology and Administrative Services Divisions.

State Banking Board

 

Board Meeting Minutes

 

The State Banking Board was originally created under Act 60 of 1933. The Board consists of six (6) members. The members serve for five (5) years.

The powers and duties of the board include: Pass upon bank charter applications and charter amendments; pass upon proposed reorganizations, mergers and consolidations and conversion from National Charter to State Charter; power to permit banks to change location of place of business from one city to another; etc.

The Commissioner and the State Banking Board have full authority to issue rules and regulations.

The board holds regular meetings four (4) times a year on the third Thursday of January, April, July and October. The Bank Commissioner or the Chairman of the Board may reset the meeting after giving notice as required by regulation or may call special meetings as needed.

 

CURRENT ARKANSAS STATE BANKING BOARD MEMBERS

Zach McClendon, 2018 Chairman

Monticello
Term Expires: 12-31-2019

Randal Scott, 2018 Vice-Chairman

Blytheville
Term Expires: 12-31-2020

Lana Hampton

Springdale
Term Expires: 12-31-2018

Gary Hudson

Stuttgart
Term Expires: 12-31-2018

Ronald Mobley

Morrilton
Term Expires: 12-31-2018

David Leech

Stuttgart
Term Expires: 12-31-2021


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 79 banks hold assets of $90.2 billion as of December 31, 2017. 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; and capital development companies. The Department operates to ensure the safety and soundness of, and public confidence in, these institutions and organizations.


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