A new niche bank is coming to Northwest Arkansas this summer. Banco Sí!, a recently formed division of Signature Bank of Arkansas, will focus on a growing segment of the population who feels underserved by traditional banks.
“Our mission is to create economic growth and access to banking services, capital, and funds for small and midsize businesses that traditionally have not had access in the past,” said Francisco Herrero, President of Multicultural Banking.
Vice President of Marketing Tori Bogner noted that the name Banco Sí! (meaning “Yes Bank” in Spanish) was chosen to send a positive message to the Latino community, who “has historically been told ‘no’ where finances are concerned.”
Signature Bank of Arkansas plans to open its new bank in downtown Rogers in a historic building, pending approval, at 114 S. First St. Built in 1906, the building originally housed Rogers’ first financial institution, The Bank of Rogers. Plans for the interior of the space will honor the building’s original mahogany features, marble baseboards and mosaic tile floor.
Banco Sí! will be fully staffed by bilingual team members equipped to serve new customers, as well as existing Signature customers wishing to conduct business in downtown Rogers. Herrero promises the bank will “go beyond sprinkling in Spanish.”
“We want to work in your language, whether that’s English or Spanish,” he said. “At the same time, we want to support African American and Marshallese communities — anyone who feels that traditional banking doesn’t fit their needs.”
A soft opening of Banco Sí! is planned to take place over the summer with a grand opening to come in September in tandem with Hispanic Heritage Month. An advisory board of 100 percent Hispanic and Latino members has been identified and is representative of local and corporate businesses in Northwest Arkansas. Its input will provide insight to the community at large, as the bank makes progress with staffing, products and marketing.
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