In 1998, Nick Roach began his banking career as a teller, becoming a loan officer and vice president before joining Stone Bank in 2010. He went on to become chief lending officer and then president and was named CEO of Stone Bank last year.
Roach holds a bachelor’s in economics and finance from Arkansas Tech University in Russellville and is a graduate of the Southwestern Graduate School of Banking at Southern Methodist University in Dallas.
What attracted you to banking?
Growing up, I knew two things to be true: I wanted to make a positive impact on people’s lives and I’m good with numbers. Banking seemed like the ideal industry to lean into my passion and my strengths.
What do you feel is the biggest challenge facing the banking industry?
The rapid evolution of technology, including artificial intelligence, is filled with both opportunities and obstacles for banks. On the one hand, it allows customers to conduct an increasing number of financial transactions via their mobile devices, and back-office operations can be handled more efficiently. On the other hand, emerging technology creates new questions and concerns regarding industry compliance, security and protecting our customers and their data from scammers. Banks must find a way to use these new tools with both creativity and an abundance of caution.
How can Stone Bank stand out in the Little Rock banking market?
Our motto is “We’re not the bank on every corner. We’re the bank in your corner.” Best-in-class customer service is our top priority. This means actively listening to our customers about their needs and working with them to reach their next financial milestone.
Why has Stone Bank been so successful in the government-backed loan sector?
A significant portion of my banking career had been commercial lending. When I joined Stone Bank in 2010, it had two locations (Mountain View and White Hall) and roughly $60 million in assets. For the bank to grow, we needed to find a niche where we could set ourselves apart. Government-guaranteed lending is an intricate process, one that is difficult for many banks to master in a timely and efficient manner. Identifying this as an area in which we could differentiate ourselves, we made the decision to invest our energy and resources into nurturing this business line. We made our first Farm Service Agency loan in 2011 and our first USDA loan in 2012, and then in 2017 we hired Vincent “Vinny” Muratore, to serve as our Small Business Administration Division president. Under his direction, Stone Bank has earned Top 100 Preferred Lending Partner status with the SBA. This expanded our expertise that we already possessed in FSA and USDA lending, across the nation.
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