Summit CEO Ross Whipple on Arkansas' 4 Biggest Banking Issues

by Arkansas Business Staff  on Monday, Jan. 27, 2014 12:00 am  

Ross Whipple

As it relates to banking, my best decision was starting Summit Bank after the sale of Horizon Bank to what was Mercantile Bank and now U.S. Bank. The worst would be starting a loan production office in Fayetteville in 2007. Thank goodness we weren’t there long enough to do very much damage. We did have the foresight to shut it down after seven to eight months.

What are some of the important questions weighing on the minds of bank customers?

A lot depends on whether you are a depositor or a borrower. Depositors want and need interest rates to rise, and borrowers wish them to remain stable. They are also concerned about how increased regulation may deny them access to credit.

What is the best piece of advice that you have received during your career?

You run out of money before you run out of deals. Your capital must be patient.



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