The Asa Hutchinson transition team announced today that the incoming governor would keep Candace Franks as state bank commissioner. She’s been with the State Bank Department for 35 years and commissioner since 2007. From his press office:
Governor-Elect Hutchinson issued the following statement:
“Candace has done an exceptional job throughout her 35 years of service with the Arkansas State Bank Department. From her start as Chief Counsel to the last eight years as Commissioner, Candace’s work and leadership has been exemplary. Her knowledge of the department and her breadth of experience have made her the ideal choice to lead the ASBD, and I am pleased to announce she has agreed to continue serving in her current role as commissioner in my administration.”
Bank Commissioner Candace Franks issued the following statement:
“I am sincerely honored that Governor-Elect Hutchinson has asked me to be his Bank Commissioner. I look forward to continuing the mission of the Arkansas State Bank Department, which includes the fostering of economic development by ensuring Arkansas state-chartered banks are soundly managed.
“Governor-Elect Hutchinson recognizes the value to our citizens that these institutions provide. Being a member of his administration will give me the opportunity to continue to serve our citizens and to advocate for right-sized bank regulation and supervision, which will enable our community banks to provide the kind of ‘relationship banking’ services that have made them so successful.”
No word yet on the state Securities Commission, currently led by Heath Abshure. A chance is expected. Abshure has had some high-profile disagreements with powerful Stephens Inc., a power player in Republican politics.