Arvest Equipment Finance Sees 8.1 Percent Growth in 2013

Tuesday, March 25 at 04:15 AM
Category: Arvest News

We are excited to announce since 2009, loans and leases by Arvest Equipment Finance have more than doubled. We're proud to note this puts Arvest Equipment Finance in the top 100 largest equipment finance and leasing companies in the U.S. in 2013.

LOWELL, Ark. -- Seven years after its founding, Arvest Equipment Finance (AEF), a division of Arvest Bank, ended 2013 with $132.3 million in loans and leases. This is an increase of 8.1 percent from $122.3 million in 2012.

When looking at the past few years, AEF has seen tremendous growth in a relatively short time period. In 2009, AEF ended the year with loans and leases valued at $54.9 million. The value of loans and leases has more than doubled as of the end of 2013.

In 2013, AEF ranked among the top 100 largest equipment finance and leasing companies in the United States by MonitorDaily, the leading publication of the equipment leasing and finance industry. The Monitor 100 is published annually and ranks the largest equipment leasing and finance companies based on net assets and new business volume. The 2013 Monitor 100 report, published in the 2013 Monitor 100 Special Issue dated June 2013, ranks AEF 99th on the list in terms of 2012 assets.  AEF ended 2013 with assets totaling $133 million.

The industry is experiencing overall growth with the Equipment Leasing and Financing Association (ELFA) predicting that a majority of U.S. businesses will use some form of financing for equipment acquisition in 2014. ELFA also states that, in 2014, investment in plant equipment and software in the United States is projected to reach $1.5 trillion, of which 57 percent, or $860 billion, is expected to be financed through loans, leases and lines of credit, an increase from 55 percent in 2013. In a continuing trend,* seven out of 10 businesses will use at least one form of financing to acquire equipment.

AEF president and CEO, Kyle W. Gilliam said, “Financing equipment is a great option for business owners as it gives them flexibility and the option to preserve resources for other needs. Here, we are in the fortunate position of having close relationships 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. We have had a great year, and that connection with lenders and our personal relationships with our customers is what helps us to be successful.”

 Links marked with * go to a third-party site not operated or endorsed by Arvest Bank.

Tags: Arvest Biz, Arvest Growth, Press Release
 

Grand Reopening Celebration for Mena, Ark. Branch

Wednesday, October 30 at 12:25 PM
Category: Arvest Community News

Don’t miss the grand reopening festivities this week at Arvest’s newly remodeled branch at 1608 Hwy 71 N., Mena, Ark.*

Tuesday, Oct. 29

  • Acorn Tigers debit card FREE to current and new Arvest customers.**
  • Enter a drawing for an Acorn basket full of goodies.

Wednesday, Oct. 30

  • Rich Mountain Community College debit card FREE to current and new Arvest customers.**
  • Enter to win an RMCC gift basket.

Thursday, Oct. 31

  • Come check out our fall festivities and pick up a treat-filled goodie bag!
  • Vote for your favorite pumpkin in our Pumpkin Decorating Contest by donating your spare change to our 1 Million Meals Campaign. Stop by and enter your name in a drawing for a Stewman's Flowers & Candy fall centerpiece.

Friday, Nov. 1

  • Mena Bearcat debit card FREE to current and new Arvest customers.**
  • 10:30 a.m. A full day of festivities begins with a ribbon-cutting ceremony and check presentation to Louise Durham Elementary.*
  • 11 a.m. Drawing for a $50 Arvest gift card. Grab some lunch on us! Our crew will fire up the grill and serve hamburgers and ice-cold refreshments.
  • Noon Drawing for a $50 Arvest gift card.
  • 1 p.m. Drawing for a $50 Arvest gift card.
  • 2 p.m. Drawings for three gift baskets, valued between $120 and $125 each! One is Arkansas Razorback-themed, one is coffee-themed and one is car cleaning-themed.

For more information, please call (479) 394-8210.

May enter drawings in person or by submitting name, phone number and/or email address to klwilliams@arvest.com. Anyone may enter. Do not need to be present to win. **$50 minimum to open account. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: 1 Million Meals, Arkansas, Arvest Growth, Locations
 

Join Us for a Grand Opening in Fayetteville, Ark.

Monday, October 28 at 07:20 AM
Category: Arvest Community News

Arvest Bank is pleased to announce the grand opening of its newest branch, located at 2389 N. College in Fayetteville.* The branch opened for business Monday, Oct. 21, and we will celebrate with a ribbon-cutting ceremony Tuesday, Oct. 29, at 2 p.m.

Fayetteville's mayor, Lioneld Jordan, and Arvest’s Fayetteville President and CEO, Donny Story, are among those scheduled to speak.

The new, branch replaces the nearby Green Acres branch at 1947 N. College. The new branch is built to meet standards established by the U.S. Green Building Council’s Leadership in Energy and Environmental Design for certification, known as LEED guidelines.

Other improvements include:       

  • An increase of more than 3,400 square feet
  • 15 additional parking spaces
  • 2 additional drive-thru lanes
  • A conference room and a training room

We hope you’ll join us for the festivities or simply drop by to see our newest branch. For more information, please call (479) 444-5650 or email Branch Manager Sasha Mayo or Assistant Branch Manager Francisco Cortez.

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

Tags: Arkansas, Arvest Growth, Fayetteville
 

Arvest Signs Agreement to Buy National Banking Corp

Wednesday, October 02 at 03:00 PM
Category: Arvest News

National Banking Corp has entered into a Definitive Agreement to sell 100% of its issued and outstanding stock to Arvest. The sale is anticipated to close in the 4th quarter of 2013, pending all required regulatory and shareholder approvals.

LITTLE ROCK, Ark. — Officials of National Banking Corp (“NBC”) and Arvest Bank Group, Inc. (“Arvest”) announced today that NBC has entered into a Definitive Agreement to sell 100% of the issued and outstanding stock, or 93,843 shares, of NBC to Arvest Holding Company, Inc., a subsidiary of Arvest Bank Group, Inc. (“Arvest”). NBC is the parent holding company for National Bank of Arkansas (“NBA”) based in North Little Rock. The sale is anticipated to close in the 4th quarter of 2013, pending all required regulatory and shareholder approvals.  Arvest will be filing applications with the Arkansas State Bank Department and the Federal Reserve Bank of St. Louis for approval to purchase NBC, and merge NBA into Arvest Bank. 

“We are excited about National Bank of Arkansas becoming part of the Arvest Family,” said John Womack, Chairman and CEO of Arvest Bank in Little Rock.  “This acquisition will certainly help improve our market share and visibility in Conway, Maumelle, North Little Rock, and West Little Rock. We are looking forward to getting acquainted with NBA’s associates and customers.”  If approved, the merger of NBA branch locations and customer accounts into Arvest should occur in late 4th quarter 2013 or 1st quarter 2014. 

“Making the decision to sell was difficult, but knowing that the new owner will take good care of our NBA customers has made it easier,” stated Bob Osborne, majority shareholder and Chairman of the Board of National Banking Corp.   “I believe that right now is the right time to sell NBA and Arvest Bank is the right acquirer.” 

“With the planned merger of NBA into the Arvest organization, our customers will have greater banking convenience, not only in central Arkansas, but throughout the state as well,” Osborne continued.   “I want to take this opportunity to thank our NBA customers and employees for their years of loyalty to National Bank Arkansas, ‘The Little Bank with the Big Heart.’” 

NBA customers should continue to conduct their banking business at NBA locations as they have in the past until they receive more information from Arvest with details about the transition.  Arvest customers will be unable to bank at current NBA locations until the transition is complete. 

National Bank of Arkansas, founded in 1981 and headquartered in North Little Rock is a locally owned and operated bank with approximately $186.8 million in assets.  The bank has seven offices located in Pulaski and Faulkner Counties.

Tags: Arkansas, Arvest Growth, Little Rock, Press Release
 

Arvest Equipment Finance Makes Monitor 100 List of Largest Equipment Finance and Leasing Companies

Thursday, August 08 at 09:20 AM
Category: Arvest News

FORT SMITH, Ark. — Six years after its founding, Arvest Equipment Finance (AEF), a division of Arvest Bank, has grown quickly to be ranked among the top 100 largest equipment finance and leasing companies in the United States by MonitorDaily, the leading publication of the equipment leasing and finance industry. The Monitor 100 is published annually and ranks the largest equipment leasing and finance companies based on net assets and new business volume. The 2013 Monitor 100 report, published in the 2013 Monitor 100 Special Issue dated June 2013, ranks AEF 99th on the list in terms of 2012 assets.

Seven out of 10 U.S. companies will finance equipment through loans, leases or lines of credit in 2013, according to the Equipment Leasing and Financing Association (ELFA).  ELFA also stated that credit market conditions are expected to remain favorable for long-term equipment financing throughout the year.*

AEF’s 2012 net assets were up 2.4 percent from the previous year for a total of $123.5 million in loans and leases. The industry is experiencing overall growth, with net assets among the top 100 companies up 5.8 percent over 2011 to $548.8 billion.

AEF president and CEO, Kyle W. Gilliam said, “Financing equipment gives business owners flexibility and the option to preserve resources for other needs. At AEF, we have a close relationship with Arvest lenders, and so we’ve been able to successfully inform customers about the benefits of using AEF, such as the ability to finance up to 100 percent of the cost of equipment with no down payment. The connection with lenders and that personal relationship with our customers goes a long way in making our business model successful.”

*“Equipment Leasing and Finance Association Announces Top 10 Equipment Acquisition Trends for 2013.” January 14, 2013. http://www.elfaonline.org/news/press/pressreleases_report.cfm?ID=20750

Tags: Arvest Biz, Arvest Growth, Business Banking, Equipment Finance, Lending and Financing
 

Construction Begins on Two Branches in Greater Kansas City

Tuesday, June 25 at 10:20 AM
Category: Arvest Community News

Construction began this month on two branches in Greater Kansas City. The construction for the new Arvest Bank branch at 13th Street and Grand Boulevard in Kansas City, Mo., officially began on June 11, 2013. This will be the first Arvest Bank branch to be built into an existing parking garage! Arvest Bank will occupy the high-profile northwest corner of 13th Street and Grand Boulevard where it will share an intersection with the Kansas City Power & Light District and the Sprint Center.

In January, 2014 this unused parking garage space will be converted into a 3,700 square-foot branch complete with a drive-thru lane and walk-up ATM machine. The existing downtown branch bank at 127 W. 10th St. on the ground floor of the Library Lofts apartments will relocate to this larger facility after this project is completed. The new branch will offer customers extended 7 a.m. - 7 p.m. weekday banking hours and 8 a.m. – 1 p.m. Saturday banking hours.

Additionally, construction for our new Arvest Bank branch in Gardner, Kansas is also underway. The new 4,000 square foot branch will be located one block west of the existing branch in Gardner and will offer nine offices, three drive-thru lanes and a conference room!

Tags: Arvest Growth, Kansas, Kansas City, Missouri

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