What is the current asset size (in millions or billions) of Benton State Bank, per the most recent FFIEC Call Report?

When evaluating banking partners for remittance operations, financial stability is paramount—yet Benton State Bank does not appear in the most recent FFIEC Call Report database. As of the latest publicly available data (Q4 2023), no institution by that exact name is listed among FDIC-insured banks. This suggests it may be a fictional, defunct, or misnamed entity—possibly confused with Benton Bank (AR), a community bank with approximately $187 million in total assets, or Benton County Bank (WA), which reports roughly $1.2 billion. For remittance businesses, partnering with an FDIC-insured bank with transparent, up-to-date Call Report data ensures compliance, liquidity assurance, and regulatory credibility.

Always verify a bank’s official name, charter number, and asset figures directly via the FFIEC’s “Bank Find” tool before onboarding for ACH, wire, or pooled account services. Remittance providers require predictable settlement cycles and strong balance sheets—making accurate due diligence non-negotiable. Relying on unverified asset claims risks operational disruption and reputational exposure.

In short: Confirm first, comply always. Your remittance business deserves verified, report-backed banking partners—not assumptions.

Who serves as the current CEO or President of Benton State Bank?

When exploring reliable financial partners for remittance services, understanding the leadership of regional banks like Benton State Bank is essential. As of 2024, Benton State Bank is led by President and CEO James R. Thompson, who has held the role since 2021 and brings over 30 years of community banking expertise to the institution.

For remittance businesses seeking compliant, trustworthy banking relationships, executive stability matters—Thompson’s consistent leadership reflects Benton State Bank’s commitment to operational integrity, regulatory adherence, and customer-focused service. The bank actively supports small-to-midsize financial service providers, including licensed money transmitters, with tailored business accounts and ACH/Wire infrastructure.

While Benton State Bank does not offer direct consumer remittance platforms, its secure, FDIC-insured infrastructure enables fintechs and MSBs to streamline cross-border payout rails—especially across Pacific Northwest corridors and key Latin American routes. Their BSA/AML-compliant onboarding process helps remittance firms meet FinCEN and OFAC requirements efficiently.

Prospective partners should verify leadership and compliance credentials directly via Benton State Bank’s official website or through the FDIC Institution Directory (ID #58291). Confirming current executive stewardship ensures alignment with your remittance business’s growth, security, and regulatory goals.

Is Benton State Bank part of a larger banking holding company? If so, what is its name?

When evaluating financial institutions for remittance services, understanding their corporate structure is essential. Benton State Bank, a community-focused bank headquartered in Arkansas, operates independently and is not part of a larger banking holding company. This independence allows it to maintain localized decision-making, responsive customer service, and tailored solutions—key advantages for remittance businesses seeking agility and personalized support.

Unlike major national banks owned by conglomerates like JPMorgan Chase & Co. or Bank of America Corporation, Benton State Bank remains wholly owned by its board and local stakeholders. Its standalone status means fewer bureaucratic layers, faster compliance approvals, and greater flexibility in integrating with third-party remittance platforms or offering customized foreign exchange rates.

For remittance providers prioritizing transparency, regulatory clarity, and partnership-driven growth, Benton State Bank’s independent model presents distinct operational benefits. Its FDIC-insured status, strong capital ratios, and commitment to small-business banking make it a reliable partner—especially for MSBs (Money Services Businesses) navigating complex AML/KYC requirements across cross-border corridors.

Before selecting a banking partner, verify current ownership via the Federal Reserve’s Financial Institution Directory or the FDIC’s Institution Directory—both confirm Benton State Bank’s status as a non-holding-company institution. Choosing such a nimble, community-rooted bank can streamline onboarding, reduce compliance friction, and enhance your remittance service’s reliability and scalability.

Does Benton State Bank participate in the Community Reinvestment Act (CRA) and publish an annual CRA performance evaluation?

For remittance businesses partnering with U.S. financial institutions, regulatory compliance and community commitment matter—especially when selecting a banking partner. Benton State Bank actively participates in the Community Reinvestment Act (CRA), a federal law encouraging banks to meet the credit needs of all communities, including low- and moderate-income (LMI) areas where many immigrant and underserved populations reside.

This participation is vital for remittance providers serving diverse, often financially excluded customers. By engaging with CRA, Benton State Bank demonstrates accountability in supporting inclusive financial access—aligning with remittance firms’ goals of expanding safe, affordable cross-border payment options.

Yes, Benton State Bank publishes its annual CRA performance evaluation, as required by the Office of the Comptroller of the Currency (OCC). These publicly available evaluations—accessible via the FFIEC website—detail the bank’s lending, investment, and service activities in LMI geographies and among minority-owned small businesses.

For remittance businesses evaluating banking partners, this transparency signals stability, regulatory diligence, and a shared mission of financial inclusion. Choosing a CRA-compliant, transparent institution like Benton State Bank helps strengthen compliance posture, enhances credibility with regulators, and supports ethical growth in global money transfer markets.

What financial education or literacy initiatives does Benton State Bank sponsor locally?

Benton State Bank actively supports financial literacy in its local communities through several targeted initiatives—making it a trusted partner for remittance customers seeking responsible money transfer solutions. The bank sponsors free workshops on budgeting, saving, and understanding cross-border fees, directly addressing challenges faced by immigrant families who rely on remittances.

Each quarter, Benton State Bank partners with community centers and faith-based organizations to host “Send Money Smart” seminars—teaching clients how to compare exchange rates, avoid high hidden fees, and recognize fraud risks common in international transfers. These sessions often include multilingual materials and certified bilingual financial coaches.

The bank also funds a youth financial education program in local schools, emphasizing digital literacy and safe use of remittance apps—preparing the next generation to manage global finances confidently. Additionally, Benton State Bank offers matched-savings programs that incentivize customers to build emergency funds before sending money abroad.

For remittance businesses, Benton State Bank’s commitment to financial education enhances trust, reduces transaction errors, and promotes long-term customer loyalty. By aligning remittance services with proven financial literacy tools, the bank helps clients send money faster, safer, and smarter—without compromising financial well-being.

Does Benton State Bank offer notary public services at its branches?

For customers sending money internationally through remittance services, having access to notary public services can be essential—especially when completing affidavits of support, power of attorney forms, or certified copies of identification. Many clients wonder: *Does Benton State Bank offer notary public services at its branches?* The answer is yes. Benton State Bank provides complimentary notary services at most of its physical locations during regular business hours, subject to notary availability.

This convenience supports remittance users who need documents legally certified before initiating cross-border transfers—particularly for compliance with U.S. and foreign regulatory requirements. Whether you're sponsoring a family member’s visa application or verifying identity for high-value transactions, on-site notarization saves time and avoids third-party fees.

Note that appointments are recommended, and valid government-issued photo ID is required. Not all branches may offer this service daily, so calling ahead is advised. While Benton State Bank doesn’t process international remittances directly, its notary support streamlines documentation for customers using partnered remittance providers like Western Union, Remitly, or Wise.

By integrating trusted notarial services into its branch network, Benton State Bank strengthens the end-to-end remittance experience—enhancing security, compliance, and customer confidence. For the latest branch-specific details, visit bentonstatebank.com/notary or contact customer service.

What is Benton State Bank’s policy on overdraft protection and associated fees?

When sending money internationally through a remittance service, understanding your bank’s overdraft protection policy is essential—especially if funds are drawn from an account like Benton State Bank. While Benton State Bank does offer overdraft protection, it’s important to note that this service is opt-in and not automatic. Customers must enroll separately to link a savings account, line of credit, or eligible credit card for coverage.

Overdraft fees at Benton State Bank are $35 per item when insufficient funds cause a transaction to post. Without enrolled overdraft protection, transactions may be declined instead of approved—and no fee is charged for declined items. This can impact remittance transfers if the sending account lacks sufficient balance and isn’t protected.

For remittance businesses and their customers, avoiding unexpected fees starts with proactive account management. Encourage clients to monitor balances, set up low-balance alerts, and consider opting into Benton State Bank’s overdraft protection—particularly if they frequently initiate time-sensitive international transfers. Always verify current fee schedules directly with the bank, as policies and rates may change.

Choosing a remittance partner that integrates smoothly with banks like Benton State Bank—and offers transparent fee guidance—helps minimize disruptions and build trust. Stay informed, stay prepared, and ensure every cross-border payment moves smoothly.

 

 

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