Author: Jackson Walton| Major: Finance and Political Science | Semester: Fall 2023
During the Fall of 2023, I conducted research under the lead of Dr. Molly Rapert. The research seeks to find answers to why community banks that have historically been economic centers for ruralcommunities are leaving those communities in droves. The research project will gather insights, data points, and other thoughts from rural banking leaders via in-person meetings that are currently being conducted. Questions asked are both quantitative and qualitative and the project will synthesize, analyze, and compare their contributions and draw conclusions based on these findings.
During the Summers of 2021 and 2022 I would take on positions at a community bank within my small hometown in rural northeast Arkansas. The bank functions as a Community Development Financial Institution (CDFI) and has a specific goal of offering those in rural communities access to the banking system and to capital to assist in economic growth. During the Summer of 2021, I worked as a policy research assistant and during 2022 I worked with the lending and operations teams. Over these two summers I would unexpectedly grow a love for this field. I would find that banks like these are the pillars that keep towns like mine economically viable. As a result of these positions and the passion I grew for the field, I had found a topic for my undergraduate thesis that was relevant to the state of Arkansas, my fields of study (finance and political science), and to be helpful to the world.
The Honors research grant has offered me the ability to plan, meet, and conduct interviews with some of the top leaders in the Arkansas banking world. Funding is crucial to projects like mine that include extensive amounts of travel, time, and technology. The Honors College filled that gap for me and allowed me the opportunity to work on something meaningful, impactful, and important. One of the most important lessons learned throughout my funding period was that research is tough. Often things do not go to plan or stick to the timeline you swore by and that is normal. If you are preparing for your thesis now, I advise you to leave some buffer room to prepare for obstacles, delays, or issues that might arise. My advice is to take this project for what it is: a learning experience that you, as an Honors scholar, are capable of. These twists and turns that can be frustrating have proven to offer me the best of life lessons.
Choosing a faculty mentor was a simple task for me. I met Dr. Molly Rapert before studying abroad and taking her courses in Italy during the Summer of 2022. Dr. Rapert has helped me navigate and dodge these issues as they arise. How helpful it has been to have a great faculty mentor in Dr. Molly Rapert. She has guided me in taking every idea that I have and turning them into tangible opportunity. We meet on a consistent basis to discuss the trajectory of the project and she provides excellent and necessary feedback. Faculty mentors are so important in this process, so I recommend choosing wisely.
The Honors College Research Grant provided me with opportunity that I would have otherwise never had. Because of the funding, I have been able to work towards ending a problem that I deeply care about. It is truly so great to know that such a great institution, like the University of Arkansas Honors College behind you each step of the way during the daunting and tough challenge that is the undergraduate thesis. I take the lessons learned from not only the actual research but from the process as well into a career in finance with a hope that they allow me to make deep and lasting impact on the state of Arkansas.