ARKANSAS (KNWA/FOX24) — The White House is assuring Americans that their money is safe after the failure of Silicon Valley Bank in California and of Signature Bank in New York.
People who bank at Signature Bank of Arkansas may be worried their money is being impacted by this.
The bank posted on its website on Monday saying, “You may rest assured that your community bank, Signature Bank of Arkansas, is not associated or affiliated with a similarly named organization that you may see mentioned in the news.”
It adds, “We are not affiliated, associated, authorized, endorsed by, or in any way officially connected with the various “Signature Bank” brands independently headquartered in Chicago, Florida, Kansas, Michigan, Minnesota, New York, and Texas, the Signature Bank National Associations of both Ohio and Texas, Signature Bank of Georgia, or any of their subsidiaries or their affiliates.”
Signature Bank of Arkansas is owned by White River Bancshares based in Fayetteville. Leaders at the bank said they are not seeing any negative impacts of what’s happening with the two banks that failed.
“We are 100% okay, we are the same today as we were last week,” said Brant Ward, COO of Signature Bank of Arkansas. “We have a local board here, with mostly local shareholders that are in the state of Arkansas and this is our home. We don’t do any business in New York.”
Ward encourages anyone who has questions or concerns about their finances with the bank to call them.
According to its website, Signature Bank of Arkansas has locations in Fayetteville, Springdale, Rogers, Bentonville, Bentonville, Brinkley, Jonesboro and Harrison.