Banco Sí, the bilingual division of Signature Bank of Arkansas, will open on Sept. 23 in downtown Rogers and has plans to expand the brand to Springdale and Siloam Springs, according to a Tuesday (Aug. 23) news release.
The 3,966-square-foot bank at 114 S. First St. will be the first dedicated bilingual bank in Arkansas, and all staff will be bilingual, speaking English and Spanish.
Tori Bogner, vice president of marketing for Signature Bank, said six staff have been hired so far for Banco Sí, but it’s expected to have eight employees by the time it opens.
According to the news release, Rogers was “the ideal first location for Banco Sí,” as the city’s population was 33.8% Hispanic in 2021 and is projected to rise to 35.4% in 2026. Also, Hispanic students accounted for 47.8% of the enrollment at Rogers Public Schools.
“However, downtown Rogers is only the beginning for Banco Sí,” the release shows. “Signature plans to expand the Banco Sí brand to Springdale and Siloam Springs.”
In 2021, Hispanic residents accounted for 38.3% and 24.1% of the population in Springdale and Siloam Springs, respectively. By 2026, the percentages are expected to rise to 40.9% and 26.6%, respectively. Hispanic students accounted for 47.9% and 33.4% of the enrollment in each city’s school district, respectively.
In Northwest Arkansas, Hispanic residents comprised 17.3% of the population in 2021, up from 1.3% in 1990. Hispanic residents are expected to account for 19% of the population by 2026, according to a recent diversity report.
From 4 to 7 p.m. on Sept. 23, Banco Sí will host several grand opening events. Tours of the lightly-renovated bank building, networking and a ribbon cutting will take place from 4 to 5 p.m. The bank will host a community block party from 5 to 7 p.m. that will include food, festivities and community resources.
Following are some of the party participants:
- Arkansas Alumni Association Latino Alumni Society
- Arkansas Latinas en Bici
- Arkansas Small Business and Technology Development Center
- Community Clinic
- EforAll Northwest Arkansas
- Northwest Arkansas Women’s Shelter
- Serve2Perform’s LatinXNA
- Upskill NWA
- Venture Noire
Following are the food providers:
- La Luna (Salvadoran)
- The 120 Tapas Bar (Spanish)
- Tula (Mexican)
- Havana Tropical Grill (Cuban)
- La Loteria (Mexican snacks)
Earlier this year, Signature Bank released plans to launch a new market employing bilingual staff in downtown Rogers. The bank also partnered with Fayetteville-based professional development firm Serve2Perform in an initiative to prepare and place Hispanic members on the bank’s market advisory boards. The LatinXNA Board Placement Initiative was one of the first initiatives undertaken by Francisco Herrero, president of Banco Sí.
Banco Sí’s 20-member advisory board, comprising area Hispanic residents, meets regularly to provide input and guidance for the bank.
Fayetteville-based White River Bancshares Co. is the holding company for Signature Bank. It has locations in Fayetteville, Springdale, Bentonville, Brinkley, Rogers, Harrison and Jonesboro.