MEMBER SPOTLIGHT
CANDACE FRANKS Bank Commissioner
Candace Franks was born and raised in Jonesboro, Arkansas. Her father was an ophthalmologist and her mother was a homemaker. She had the “average town kid type of childhood” and had a passion for history. That passion led her to pursue a degree in history, then a master’s degree in American History. Candace then went on to get her law degree. Once out of law school, Candace started working at the Arkansas Attorney General’s office, but knew there was something better suited for her elsewhere. Everything changed for her when her friend called about a job opening at the bank department for an attorney. “I didn’t know what the bank department was or what they did. I had no experience with that at all. That’s how I ended up at the state bank department. That was in 1980. It’s been an incredible experience,” says Franks. At first, Candace wasn’t sure that this was the role for her. She didn’t know the industry, but time flew by and after a few years she developed an enthusiasm for the industry and wanted to stay. She says it is that enthusiasm that has kept her in her position. She has served the financial regulatory body for nearly 40 years, first as general counsel from 1980-1995 to the bank department then she was appointed to Deputy Commissioner and General Counsel until 2007. Then, she was appointed as the 21st Commissioner of the Arkansas State Bank Department. Not only is she the longest appointed commissioner, she is also the first female and first professional bank regulator appointed to her position. “I’ve had great opportunities. I’ve worked for six bank commissioners and five governors, and I have to say that all of them have been very different, but I just feel very fortunate because all of them have been very professional and very special people to work for and work with. It’s been very fulfilling.”
During her time in this role, she has been through four banking crises. While they all affected her, the 2008 recession hit her harder. “I took it personally, it was hard for me to see bankers that I’d known for 30 years struggling.” Candace adds, “I think you have to decide that it’s not personal and you have to man up and go do what you need to. You’ve got to deal with it. You’ve just got to decide if that’s what you want to do and it’s your responsibility to do it.” Candace isn’t all work though. She met her husband Roger during college. He was also earning a degree in social work. Roger has been at his current job for 38 years. While Candace says, “Nothing much changes about us, we’re pretty boring,” the two have worked as a team since the beginning. They have one daughter, Ava, who was born in 1983. And six weeks after Ava was born, Candace jumped back into work during the legislative sessions. “I couldn’t have done it all without Roger’s help. He gave me a lot of support at home. He was always very supportive and encouraging when I had training or travel,” Franks says. She adds that a good support system allowed her to pursue her career and fulfill her duties. She knows that it is a struggle for women to find the work and home life balance.
“Arkansas Bankers are fortunate to have a Commissioner like Candace. She genuinely cares about the banks and bankers under her supervision and wants to see them succeed and prosper. Arkansas is very, very lucky to have Candace Franks lead the Bank Department.” Robert L. Robinson, IV Community President/Senior Credit Officer Simmons Bank 12
The Arkansas Banker n Winter 2019
