Arvest Equipment Finance Sees Significant Loan Growth

Wednesday, April 01 at 07:50 AM
Category: Business Banking

Arvest Equipment Finance sees an increase in loan and lease volume and is ranked by MonitorDaily in the top 50 of U.S. bank-affiliated equipment leasing and finance companies.

LOWELL, Ark. — Arvest Equipment Finance (AEF), a division of Arvest Bank, continued to see steady growth in 2014, ending the year with $146.4 million in loans and leases. That number represents a year-over-year increase of 9.2 percent in volume.

This time last year, AEF reported an 8.3 percent growth rate in loan and lease volume from 2012 to 2013. The consistent growth is even more apparent when considering AEF ended 2009 with loan and lease volume of $54.9 million.

AEF’s 2014 increase is in line with national trends, as investments in equipment grew from $827 billion in 2013 to $903 billion in 2014 – an increase in loan volume of 9.2 percent (Lease Foundation*). Growth in this banking segment is predicted to be about 6 percent in 2015 (Lease Foundation*).

Also in 2014, and for the first time, AEF ranked 50th in the top 50 of bank-affiliated equipment leasing and finance companies in the U.S. by MonitorDaily, a leading publication of the equipment leasing and finance industry. The Monitor Bank 50 focuses on the performance of banks actively engaged in the equipment finance industry, including net asset size, new business activity and market share, as well as other portfolio metrics, highlights and forecasts. 

“Equipment financing is a critical source of funding for our community businesses that allows them to acquire the equipment and software they need to operate and grow, AEF president and CEO Kyle W. Gilliam said. “We’re excited to see this growth in the communities we serve and see it as an indicator of a healthy economy. Here at AEF, we work closely with Arvest lenders, and so we’ve been able to successfully inform customers about the benefits of using AEF. One of these benefits is the ability to finance up to 100 percent of the cost of equipment with no down payment. ”

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

Tags: Arvest Biz, Business Banking, Equipment Finance, Press Release

Book Drive in Fayetteville, Ark.

Wednesday, April 01 at 06:55 AM
Category: Arvest Community News

Arvest is holding a book drive to benefit the Fayetteville Public Library* in Fayetteville, Ark., April 1 – May 30, 2015. Both new and gently used children’s and teen books will be accepted. Donation boxes are located in all Arvest Fayetteville branch lobbies. 

The books will be used in three ways:
  • Provide Summer Reading Club prizes
  • Sustain three small lending libraries located in the Fayetteville Head Start centers
  • Used as Reading Roadshow program giveaways 
This is a great opportunity for Arvest associates and customers to help the children in our community! 

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

Tags: Arkansas, Community Support, Fayetteville

Friday Financial Forum April 3 in Bartlesville, Okla.

Wednesday, April 01 at 05:10 AM
Category: Arvest Community News

Join us Friday, April 3, at 10 a.m. for a special Friday Financial Forum hosted by Sonya Reed, Billie Roane and Amelya Wilmott. We’ll meet in the Friday Forum Room at Arvest's Eastside Branch located at 4225 S.E. Adams Rd., Bartlesville, Okla. Every Friday we invite customers like you to attend our one-hour Financial Forum.

This week you are all in for a real treat as we have all ladies presenting the community information, economic updates, stock reports, entertainment and a few funny anecdotes!  
Margo Proctor, Bartlesville’s Female Business Owner of the Year, will be our featured speaker. Margo is well known for her entrepreneurial spirit and excellence in business by starting her own business, Sweet P’s, an enchanting gift shop in downtown Bartlesville. It has a proven record of sustainability and growth and is currently expanding to include Sweet P’s 2, an upscale consignment furniture store.

Here are the exceptional ladies who will be completing the slate of presenters for this unique Friday Financial Forum:
  • Olivia Wilt, eighth grade student in Bartlesville, will begin the forum by singing "The Star Spangled Banner." She is an accomplished vocalist and equestrian and has performed in several Children’s Musical Theatre productions. Olivia is the daughter of Mike and Sherri Wilt.
  • Denise Bohnsack, the brilliant and witty wife of Jim Bohnsack, will be presenting the “You Done Good” award to the Bartlesville girls championship swim and cross country teams.
  • Sonya Reed, Vice President and Regional Investment Officer at Arvest Asset Management, whose expertise in the asset management area is well known and appreciated, will present the stock report and economic update.
  • Lisa Beeman, community development director for the City of Bartlesville, who is continually working  to help City of Bartlesville customers plan, build, and care for the land in Bartlesville, will report on recent and ongoing community developments.
  • Sherri Wilt, IOM, president and executive director at Bartlesville Chamber of Commerce, who leads a thriving and  successful chamber, will give an update on the progress of the business and not-for-profit membership activities.
  • Val Callaghan, managing director at Bartlesville Community Center, who graciously directs the activities to provide a successful venue for hundreds of performances each year, will announce upcoming community events being held at the BCC .
  • Becca Yates, Bartlesville Community Center and Mutual Girls Club, an accomplished musician and great asset to the not-for-profit organizations she works with, will close the forum by singing a prominent selection for the audience.
If you have any questions about the event or would like us to add someone to the invitation email list, please contact Billie Roane at (918) 337-4358. We look forward to seeing you there!

Sonya Reed, Regional Investment Officer, Oklahoma Insurance License #111796.

Tags: Bartlesville, Community Support, Oklahoma

Part 3: Overcoming Financial Myths Your Parents Taught You

Monday, March 30 at 11:25 AM
Category: Personal Finance

The last two weeks have been fun looking at ways to overcome those financial myths taught to us by our parents and grandparents.  

In the first week, Myth # 1, we learned money really does grow on trees, and we don’t always get what we pay for. Shopping generic is just one way to make your money go further. Have you done your blind taste test yet?

In the second week, Myth # 2, we talked about how carrying a balance on your credit card isn’t the only thing involved in improving the strength of your credit. It’s equally important to live within our means and pay our debt on time. 

This week, our final week, let’s talk retirement. 

Myth # 3 – “I’m young – I really don’t need to start saving for retirement.” And, “I’m old – it’s too late for me to start saving for retirement.”

“The question isn’t at what age I retire, it’s at what income.” George Foreman.

No age is too young or too old to start saving for retirement. However, it’s important to understand, the younger you are when you start saving for retirement, the better! It just makes sense. If you save longer, you’ll have more money when you retire.

As a mother of four and a career banker, it’s always been important to me for my children to understand how to save and why. Long before they ever started college, my husband and I started talking to them about the importance of starting to save for retirement as early as they could and to increase their savings as often as they could. “Do the math!” we tell them. 

When you do the math, it just makes … “cents” … and lots of it! Here’s the example they grew up with:  

If you start saving $5,000 a year, at the age of 21, and your rate of return is 5 percent annually, by the time you’re 65 you will have been able to save $798,392.42. WOW! That’s a lot of money!  

However, if you save that same $5,000 a year with a rate of return of 5 percent annually, but you don’t start saving until you’re 40, by the time you’re 65 you will have saved $248,131.13.  

The difference … $550,261.29! So, save early and save often!

Let’s face it, retirement can be expensive. Yet, according to the U.S. Department of Labor, fewer than half of Americans have calculated how much they will need to save for retirement. In 2012, 30 percent of private industry workers with access to a 401(K) plan chose not to participate.

What can you do to get started saving today?    
  1. Even if you have to start small, just start! Pay yourself first and as your income grows, make sure you increase the amount you are saving.  
  2. Know your retirement needs. To maintain your standard of living when you stop working, experts say you will need 70 – 90 percent of your pre-retirement income. Don’t be caught off guard by not understanding early your retirement needs. 
  3. Contribute as much as you can to your employer’s retirement savings plan, if they have one. This is important especially if they match any portion of your contribution. Why not take advantage of the free money? Also, the automatic deductions from your payroll make paying yourself first easy and convenient. If you’re not familiar with your employer’s retirement savings plans, contact your Human Resources Department. They will be able to answer your questions.  
  4. Make sure you know your Social Security benefits. You may contact them directly with your questions either through their website* or by phone at (800) 772-1213.
  5. Ask questions! It’s important to have a trusted and experienced professional to ask questions and to develop and review your retirement plan. Arvest Asset Management Client Advisors can answer your questions and help you create a reliable retirement plan. Give them a call at (877) 278-3781.
Being financially prepared for retirement doesn’t just happen. No matter your age, it takes making saving a priority, planning and commitment. Pay yourself first and you’ll be able to look forward to your retirement years. You’re never too young or too old to get started saving for retirement. Just get started!

I hope you’ve enjoyed uncovering the truths behind some of those financial myths. Maybe the next time you come across a financial myth you’ll take another look at it and contact an Arvest associate to start your path toward improving your financial strength! 

Remember, money does grow on trees!  

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

Tags: Financial Education, Retirement, Savings

Grand Re-Opening in Tulsa, Okla.

Friday, March 27 at 06:30 AM
Category: Arvest Community News

It’s no joke! Stop by our branch at 4117 S. Peoria Ave., Tulsa, Okla., for a grand re-opening celebration April 1-4! Visit with the friendliest staff in town, and check out our new facility. Refreshments will be served daily 11 a.m. – 1 p.m., while supplies last.

We’re offering prizes as just one more way to celebrate! Register** to win one of the following three prizes: 
  • $200 Urban Outfitters gift card and basket
  • $150 Mondo’s gift card and basket
  • $100 Arvest Visa gift card and basket
It’s a pleasure serving the Tulsa community! We look forward to servicing the financial needs of new and existing customers at another convenient location.

**Alternate entry is available, no purchase is necessary. To submit an alternate entry, call (918) 382-4010 with your name, address, daytime and evening telephone numbers, and/or a valid email address, to be received no later than 4/4/15. You do not have to be present to win. Must be 18 years or older to register. Offer only valid at the 4117 S. Peoria Ave., Tulsa, OK location. Winners will be announced on 4/6/15.

Tags: Oklahoma, Tulsa

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