Bear State Bank to be Acquired by Arvest Bank

Tuesday, August 22 at 02:30 PM
Category: Arvest News

Bear State Bank and Arvest Bank have exciting news to share today. An agreement has been signed where Arvest will acquire Bear State and come together as one customer-focused bank. The acquisition of Bear State Bank meets two strategic goals for Arvest – entry into attractive new markets for the bank, and an expansion of customer base and branches in existing Arvest markets. We’re excited to welcome Bear State Bank customers and associates to Arvest and look forward to working together in the future.

FAYETTEVILLE, Ark. (Aug. 22, 2017) – Arvest Bank (“Arvest”) announced today it has entered into a definitive agreement to acquire Bear State Financial, Inc. (“Bear State”) (NASDAQ:BSF), the parent company of Bear State Bank. The acquisition, expected to close in the fourth quarter of 2017 or first quarter of 2018 pending customary regulatory approvals and subject to approval by Bear State shareholders, is an all-cash transaction valued at approximately $391 million.

Bear State Bank operates 42 branches and three personalized technology centers in Arkansas, Missouri and Oklahoma, while Arvest operates more than 250 branches in Arkansas, Kansas, Missouri and Oklahoma. As of June 30, 2017, Bear State had total assets of $2.24 billion and total deposits of $1.7 billion in 34 communities. As of June 30, 2017, Arvest had total assets of $17.30 billion and total deposits of $14.98 billion in 120 communities.

“This is a strategic move for us and one made after much careful consideration,” Arvest president and CEO Kevin Sabin said. “In addition to giving us the opportunity to expand into some new communities, this deal also allows us to strengthen our presence in some existing markets.

“Because Bear State is such a solid company with dedicated employees – and because both banks are so committed to their communities – we believe this will be a great fit. From outstanding products and services to superior customer service, Arvest shares a lot of similarities to Bear State and we look forward to serving all of our customers – old and new – with the same courtesy, competency and care as we always have.”

Of the 34 communities where Bear State operates, 18 are markets where Arvest has banking operations while 16 markets will be new communities for Arvest – most notably communities in northeast Arkansas, southwest Arkansas, southern Missouri and southeast Oklahoma. Arvest Bank and Bear State customers will not notice any immediate changes, and both banks will continue to conduct business as usual. A full conversion of systems and accounts will occur in 2018, and Arvest Bank will be communicating with Bear State customers over the next several months regarding their transition to Arvest Bank.

Additionally, all those employed by Bear State on the date of contract closing will become employees of Arvest Bank.

New communities Arvest looks forward to serving in Arkansas are: Ashdown, De Queen, Dierks, Glenwood, Jonesboro, Manila, Monette, Mount Ida, Nashville and Waldron. Arvest will enter the communities of Golden City, Kimberling City, Lamar and Marshfield in Missouri, and Broken Bow and Idabel in Oklahoma. 

About Arvest 

Arvest Bank, named by Forbes magazine as one of “America’s Best Large Employers” for 2017, operates more than 250 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed markets, each with its own local board and management team. These banks serve customers in more than 120 communities, with extended weekday banking hours at many locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an Equal Housing Lender and Member FDIC.

About Bear State Financial

Bear State common stock is traded on the NASDAQ Global Market under the symbol “BSF.”  For more information on Bear State, please visit www.bearstatefinancial.com.  Its principal subsidiary, Bear State Bank, is a community oriented financial institution providing a broad line of financial products to individuals and business customers. Bear State Bank operates 42 branches, three personalized technology centers equipped with interactive teller machines and three loan production offices throughout Arkansas, Southwest Missouri and Southeast Oklahoma.

 
Tags: Arkansas, Associates, Community Support, Locations, Missouri, Oklahoma
 

Arvest to Hold “Moon Pie,” “Sun Chip” Party Day of Eclipse

Thursday, August 17 at 02:05 PM
Category: Arvest Community News

Arvest Bank will mark the upcoming total solar eclipse on Aug. 21 with a celebration from 11 a.m. to 2 p.m. in all of the bank’s branches in the North Central Arkansas territory that includes Mountain Home, Harrison, Yellville, Flippin, Lead Hill and Bull Shoals, Ark. and West Plains, Mo.

During the mid-day hours, the bank will provide Moon Pies and Sun Chips in the lobbies of every branch while supplies last. 

“Every community in America will be focused on the eclipse and our location puts us almost in the center of this rare event,” said Tiffany Watkins, assistant vice president and marketing director of Arvest Bank in North Central Arkansas. “We’re sharing in the excitement by providing our customers and guests with some eclipse-themed snacks to add to the occasion.”

The first signs of the total solar eclipse in this area are expected to begin around 11:45 a.m. and culminate around 2:45 p.m. 

Tags: Arkansas, Missouri
 

Track Your Teams with Gameday Experience Apps

Thursday, August 17 at 02:00 PM
Category: Arvest News

Arvest is excited to be the presenting sponsor of a collection of mobile apps that let you keep track of your favorite sports teams, no matter where you are!Football Fan
 
Developed by From Now On, an Omaha, Neb.-based emerging player in mobile app technology, the apps are branded for many of the universities, colleges and high schools within our footprint and are provided at no cost to the fans! The gameday experience apps are designed to enhance your fan experience and promote engagement.

Each school’s app—based off the FanX platform—features team info, event schedules, live stats, scores, stadium maps, personalized notifications and much more.

“Providing the FanX app to these institutions is an innovative way to elevate fan engagement while also fulfilling our mission of giving back to our communities,” said Jason Kincy, SVP and director of marketing for Arvest Bank.

You can download the apps via the App Store* and Google Play* or you can search for your school’s name in the search bar.

Go teams!

Here is a list of the gameday experience apps within our footprint. This list is current as of Aug. 10, 2017.

  • MSSU Lions GO (Missouri Southern Athletics)
  • Gorilla Experience (Pittsburg State Athletics)
  • UMKC Roos Athletics (University of Missouri-Kansas City Athletics)
  • Arkansas Tech Experience (Arkansas Tech University Athletics)
  • UAFS Lions Gameday (University of Arkansas-Fort Smith Athletics)
  • University of Ozarks Athletics
  • ORU Golden Eagles Live (Oral Roberts University Athletics)
  • NSU Live (Northeastern State University Athletics)
  • Oklahoma Christian Athletics
  • Cameron Aggies Gameday (Cameron University Athletics)
  • Little Rock Gameday Experience (University of Arkansas-Little Rock)


Coming soon! This list is current as of Aug. 10, 2017:

  • Drury University
  • Bartlesville High School
  • West Plains High School
  • Mountain Home High School
  • Yellville Summit High School


Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: College, Online Services, Technology
 

Shane Stover to Serve as Loan Officer in Oklahoma City

Tuesday, August 15 at 03:00 PM
Category: Arvest Community News

Arvest Bank is pleased to announce the hiring of Shane Stover in its Oklahoma City market.

Stover will serve as mortgage loan officer and be based out of the bank’s branch at 1900 S. Douglas Blvd., in Midwest City.

Stover is an Oklahoma native and has lived in-state except for his time serving as a member of the U.S. Air Force. With a career in consumer finance spanning more than 18 years, Stover has particular expertise in VA, FHA and conventional mortgage lending. He also provides homebuyer education designed specifically for the veteran community. Shane and his wife have two children and live in Greater Oklahoma City, where they are both active members of the Mid-Del real estate community.

Welcome, Shane!

Tags: Oklahoma, Oklahoma City
 

Crafty Youngins’ Create Hope – People Helping People Series

Friday, August 11 at 02:00 PM
Category: Arvest Community News

“As a parent, I don’t know if there’s anything better than watching your kids become better than you are,” said Robin Young, the mother of three children who are dedicated to helping their community. “I don’t really remember a time where the kids weren’t interested in giving back to others.”

Robin’s children are entrepreneurs who give back to their community.

According to the middle “Youngin’” Tristan, this all started back in April 2016. They create a variety of products like bags, canvases, prints and wooden artworks.

 “We wanted to help others who weren’t as fortunate as we are,” Tristan said.
 
The Young kids feature one charity per month and give back 12 percent.

 “We’ve been in business for about two years now and we’ve given about $1,000,” the oldest, Caleb said.

“The products are mostly a group effort,” Caleb said. “We’ll all think up an idea and my dad and I will work on the designs.”

The kids’ dad, Bryan, owns a sign and graphics digital printing company, according to Robin. The shop allows the kids to print canvas, make note cards and vinyl prints.

“I’m grateful for my parents because without them we might not be able to own a business,” Tristan said. “Our dad teaches us how to do things and our mom comes up with the ideas.”

The youngest “Youngin’” is Alyssa and she believes they can make a difference in the world. “We see the need to help other people because we don’t want them to be hurt or left alone,” Alyssa said.

Caleb said what keeps them motivated is knowing they are helping people who are abused or scared. They help charities like the Children’s Safety Center.

“It’s so great to see the Young family out in the community helping others,” said Emily Fisher, Children’s Safety Center development director. “It’s all about kids helping kids and it’s just a really neat way to give back and they’re also learning business skills at the same time.”

According to Alyssa, the siblings rely on each other for help. “We’re very supportive of each other so if one needs help, the other two will help them,” Alyssa said. For Robin, having the children run their own business has allowed her to teach them things they would not normally know. She said she teaches them that they can be part of the solution or part of the problem.

“You know they just believe that they really can make a difference. And they are determined to be part of the solution,” Robin said.


Watch* the Young family in action.

The Young family’s story is part of Arvest Bank’s People Helping People series featuring citizens giving back to their community.

Keep an eye on our social media channels for videos highlighting the good works of dedicated citizens in the communities Arvest Bank serves.

 
Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

 

Tags: People Helping People

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