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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.

Staff Appointments/Promotions/Transfers

The Arkansas State Bank Department congratulates the following employees on their recent appointment/promotion/transfer:

Bill Milum The Arkansas State Bank Department is announcing the retirement of William (Bill) Milum effective February 28, 2023. Mr. Milum has graciously served the citizens of Arkansas through his employment with the Arkansas State Bank Department for 45 years. Bill began his career with the department in 1978 as an examiner trainee and achieved the level of Senior Examiner, serving in this capacity for more than 40 years. Bill is well regarded and respected by the state’s bankers and fellow regulators for his integrity and character. Mr. Milum’s community service and charity has been extended to many in northeast Arkansas and throughout the state.
Aaron Lockwood was promoted to Bank Senior Examiner effective March 19, 2023. Mr. Lockwood received a Bachelor of Finance and Economics from the University of Arkansas in Fayetteville, Arkansas, and serves as a Bank Senior Examiner in our Little Rock office.
Scott Lambert The Arkansas State Bank Department has rehired Scott Lambert as a Certified Bank Senior Examiner effective April 11, 2023. Mr. Lambert received a Bachelor of Business Administration in Accounting and Marketing Management from the University of Arkansas Sam M. Walton College of Business in Fayetteville, Arkansas. Mr. Lambert worked for the Bank Department as a Certified Bank Senior Examiner from 2013 to 2022 before leaving to take a position as a Senior Vice President and Commercial Lender for Southern Bancorp Bank in Stuttgart. Mr. Lambert will be working as a Certified Bank Senior Examiner in our Little Rock office.


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 73 banks hold assets of over $158 billion as of September 30, 2023. 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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