Susannah Marshall has been appointed to serve as the Arkansas State Bank Department commissioner.
Gov. Asa Hutchinson announced Marshall’s appointment on Thursday, Sept. 10. Marshall will replace outgoing commissioner Candace A. Franks, who has served in the role since 2007.
“Susannah Marshall understands banking and knows Arkansas banks as well as anyone in the state,” Hutchinson said in a statement. “Her promotion to commissioner will provide a seamless transition of leadership as Commissioner Franks retires with the banking department in excellent condition.”
Marshall will take over the commissioner position when Franks retires on Oct. 1.
In her new role, Marshall will oversee the regulation of commercial banks with main offices inside Arkansas. According to the department’s website, these banks have a total of $123 billion in assets as of June 30, 2020. The department also oversees “bank holding companies of Arkansas state-chartered banks; state-chartered trust companies; regional and county industrial development corporations; industrial loan institutions; and capital development companies” to maintain their safety and ensure public confidence in them.
This department is also responsible for issuing new charters, authorizing bank branches and managing bank ownership and structure.
Marshall has held positions at the Arkansas State Bank Department since 1995 and has been deputy bank commissioner since 2007. Previously, she was a commercial bank examiner from 1995 to 2003, a financial analyst from 2003 to 2005 and a financial analyst supervisor from 2005 to 2007.
“I’m delighted to have Susannah serve as the twenty-second bank commissioner of Arkansas,” Secretary of Commerce Mike Preston said. “She brings twenty-five years of industry knowledge and experience working in various capacities of our bank department. We look forward to her continued leadership and service to the banking industry.”
She holds an undergraduate degree in accounting from Arkansas State University and graduated from the Southwestern Graduate School of Banking in Dallas in 2002.