Arkansas Bank Commissioner Susannah Marshall told an online news outlet on Monday that state banks are in a “very good financial position” despite some highly publicized bank failures in California and New York over the weekend.
Marshall made the comments to Axios Northwest Arkansas. She joined other industry experts quoted by Axios NW Arkansas in confirming Arkansas banks are in good financial condition after the weekend failures of California-based Silicon Valley Bank and New York-based Signature Bank.
“I think our banks are in great shape,” one Little Rock-based bank consultant told Axios NW Arkansas. The consultant noted most state institutions serve communities where they operate and haven’t gotten caught up in cryptocurrency or bond investing like Silicon Valley Bank.
“Arkansas banks are in a very good financial position, and the industry remains strong,” Marshall told Axios. She called the state’s banking industry “stable” and “healthy.”
A northwest Arkansas bank CEO also told Axios that past-due loans – a measure of how well people are paying back money they’ve borrowed – are lower than he’s seen in his 40-year career.
Click here to read the full article from Axios Northwest Arkansas.
Have a news tip or event to promote? Email White River Now at news@whiterivernow.com. Be sure to like and follow us on Facebook and Twitter. And don’t forget to download the White River Now mobile app from the Google Play Store or the Apple App Store.
Get up-to-date local and regional news/weather every weekday morning and afternoon from the First Community Bank Newsroom on Arkansas 103.3 KWOZ. White River Now updates are also aired weekday mornings on 93 KZLE, Outlaw 106.5, and Your FM 99.5.
