Signature Bank of Arkansas is adding to its Latino- and Hispanic-focused bank offerings a year after opening its first Banco Sí location in downtown Rogers last summer.
Gary Head, CEO of Signature Bank and its parent White River Bancshares Co., said he has signed a lease to open a second Banco Sí location at 103 W. Emma Ave. in downtown Springdale. Head said there will be some remodeling and renovation of the former 3,200-SF retail building and he expects to open the bank by the end of the year.
“Opening a second one means we mean it,” Head said.
As with the first Banco Sí, the entire staff will be bilingual to better serve the Latino and Hispanic community, Head said. Like Rogers, Springdale has a sizable population of people who identify as Latino or Hispanic. Former Walmart Inc. executive Francisco Herrero was hired by Head to oversee the project as the bank’s president of multicultural banking.
Head said the early returns on business at the Rogers location were better than first projected, with new accounts, deposits and loans “as good as you could hope for.”
“That community is an unbelievable opportunity, and it is much needed to better serve our Hispanic population,” Head said. “We’re going to Springdale because we are trying to make sure we serve the community close to where they live.”