Evolve Bank & Trust of West Memphis announced it has expanded to northwest Arkansas with the opening of a loan center in Rogers.
“This expansion is not just about growing our network but also about deepening our commitment to the communities we serve,” Blake Johnson, community bank president for the market, said in a news release. “We look forward to becoming an integral part of the Rogers community and helping our clients thrive.”
Evolve also has locations in West Memphis, Wynne, Parkin, Memphis, Jonesboro, Highland and Marion.
The expansion comes after a series of crises this year put the banking-as-a-service provider under pressure from lawyers and lawmakers.
The collapse of fintech partner Synapse in May left customers temporarily unable to access their funds, prompting bipartisan criticism from lawmakers, including the chair of the Senate Banking Committee.
In June, the Federal Reserve issued an enforcement action against the lender over “deficiencies” in the bank’s anti-money laundering, risk management and consumer compliance programs.
The same month, Evolve disclosed that a “known cybercriminal organization” had stolen customers’ data and personal information and posted in on the dark web. A wave of proposed class actions alleging inadequate cybersecurity measures followed.
Evolve ranked No. 1 on Arkansas Business’ 2023 list of the largest trust departments in Arkansas with $8.14 billion in total trust assets under management.
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