What’s next for Arkansas banks following Silicon Valley Bank collapse?

LITTLE ROCK, Ark. (KARK/KAIT) - Following the collapse of Silicon Valley Bank, many Arkansans have been left to wonder about the future of their own banks.

The bank was closed by the California Department of Financial Protection and Innovation on Friday, March 10.

With many people holding big investments with the company, those in Arkansas are wondering if the same thing can happen to them.

However, according to interviews from content partner KARK, that will be unlikely.

Lorrie Trogden, president and CEO of Arkansas Bankers Association, said this is not a systemic problem, and customers should not experience any issues of that type.

You can find out more about what is being done to protect your money by visiting KARK’s website.