For Latrecia Carroll, operations manager and senior vice president at Stone Bank, the obstacles women have traditionally faced in the banking industry are real but not something that cannot be overcome.
Sometimes, one just needs a guide to reveal the path. That is why representation matters in the banking industry, she said.
Latrecia Carroll
“I’ll never forget meeting a young girl at a community financial literacy event several years ago. She approached me after my talk, eyes wide with excitement, and said, ‘I didn’t know someone like me could do what you do,’” Carroll said. “In that moment, I realized how important it is for young girls to see someone who looks like them succeeding in this field. If my journey can light the way for the next generation, then every challenge I’ve faced has been worthwhile.”
Women have always had their place in the banking industry. Unfortunately, for far too long, that place was at the teller window. In 2025, things are looking up for women in the field, but that does not mean those who reached the industry’s C-suites did not have to work longer and harder to get there. Even with the example set by Carroll and others, obstacles remain. After all, old practices can take root.
Is the climb any easier for women in banking these days?
“I’m not sure it’s ever easy to advance as a woman,” said Natalie Bartholomew, community president for northwest Arkansas at First Community Bank. “I think the better way to answer this question is that there is more awareness, advocacy and support for women to succeed than there was.”
Natalie Bartholomew
Indeed, while many in the industry face the same obstacles that have always hindered women, pathways that were once closed are opening up. Carroll said opportunities for women in banking are expanding, and each day brings new possibilities — but progress remains slow.
“The conversation around gender equity has grown louder, and organizations are more aware of the value of diverse leadership,” she said. “While the road hasn’t always been easy, doors are opening, and more women are walking through them with confidence and purpose. Although the journey toward true equity continues, it’s inspiring to witness more doors opening and women stepping boldly through them. The increased focus on gender equity and the recognition of diverse leadership has sparked meaningful change, making the path forward brighter for everyone.”
Hillis Schild, executive director of Arvest Bank’s Arvest Opportunity Fund, sees that focus resulting in progress.
Hillis Schild
“Leadership roles can still be male dominated, and some amount of pay disparity still exists, but I believe that women have lots of opportunities in banking, and if we apply ourselves to constantly improving our banking skill set, we can go very far in the banking industry,” she said.
Although the U.S. banking industry employs more women than men, the old teller mindset remains entrenched to a degree. The annual Gender Balance Index from the Official Monetary and Financial Institutions Forum, an independent banking think tank, revealed slow progress in 2024. Of the 335 institutions it studied, the proportion of female leaders had risen from 14 percent in 2023 to 16 percent.
“While most banks tend to employ more women than men, women aren’t always represented in executive/leadership positions or in board positions,” Bartholomew said. “I do feel confident that more awareness is made toward providing opportunities for women to advance, but it truly starts with women and allies who are in a position of leadership to pave the way for the women behind them. Are they doing their part to advocate for other women? Are they improving policies and procedures to make the bank a better place for women to work? There is still a lot of work to be done, but we are making progress.”
Carroll credited much of the progress to supportive workplace cultures “with a focus on support, equity and inclusion.”
“Progress may be gradual, but with every stride, women are proving that they belong and that their leadership is both valuable and necessary for the future of the industry,” she said. “Women are not only claiming their seats at the table but are also leading conversations, making strategic decisions and shaping the future of banking in ways that were once unimaginable. Their presence and leadership challenges old views, highlights the importance of diversity and helps the industry innovate and better serve all clients and communities.”
Bartholomew has become an important advocate for women in the industry, if not an outright celebrity. Her The Girl Banker podcast and blog, launched in 2017, has become a national brand. She did so not just to advocate for women bankers but to inspire young women to consider a career in banking, she said.
“What started initially as a blog and a small social media presence has turned into the opportunity to speak on national stages, launch a podcast, a merchandise store and manage a Facebook group that has over 11,000 women in banking from all over the country as members,” she said. “At the end of the day, I’m most proud of the community of women in banking that the platform has created.”
Bartholomew will be the keynote speaker at the annual American Bankers Association Bank Marketing Conference, set for Sept. 15 to 17 in New Orleans. It will mark her third keynote address to the group. The ABA x The Girl Banker Brunch, themed “Amplifying Women’s Voices,” will kick off the event.
“The idea of the brunch is to set the tone for the rest of the conference with a high energy, inspiring session that features a focus on women in banking,” she said.
Bartholomew takes her role as a banking executive “celebrity” seriously.
“It’s an honor I don’t take lightly,” she said. “I feel there is more I can do to make young women aware of opportunities in the banking industry. Typically, young women don’t seek out careers in banking. Instead, banking typically finds them.”
Schild said being a role model in the industry can be fulfilling, but the thought of inspiring young girls to seek out a banking career is humbling.
“All kids need role models they can relate to, and that’s part of the reason I teach financial education when I’m offered that opportunity,” she said. “Teaching and mentoring kids is one of my favorite things to do.”
Carroll said navigating the industry as a woman — and a woman of color at that — led to her being underestimated, overlooked or challenged simply because of her gender.
“Facing these realities has required resilience, grit and confidence,” she said. “On the other hand, I feel a profound sense of pride. My hard work, accomplishments and presence are breaking barriers and showing what is possible for young girls who might otherwise doubt themselves. For me, every career milestone isn’t just my achievement; it’s a reflection of the potential in others.”
Carroll wants girls and young women thinking about a career in banking to know that the journey is worthwhile and that despite lingering prejudices, a C-suite-level office is waiting if they work hard enough.
“When young girls see my success, I hope it affirms that doors can open, and glass ceilings can be cracked,” she said. “With hard work and perseverance, they too can step into spaces where they belong and even lead with confidence and authenticity.”
