Arvest Blog

Planning for Your Financial Life Stages

Thu, 23 May 2013 10:55:00 GMT

Having a sound overall financial strategy requires you to recognize your finances are in a constant state of change. Not only do financial markets fluctuate, but your financial needs change over time. Luckily, it is easier to predict the changes in your financial life stages than it is to predict the direction of the financial markets.

Most individuals pass through three primary financial life stages as they age. Income levels, spending patterns, family situations and areas of financial concern, while not exactly predictable, tend to follow a pattern.

Stage One - Building a Financial Foundation

Young adults face the task of learning how to manage spending and saving within the constraint of their income level. Developing sound financial habits is critical. Here are some issues to consider.

Learn how you are spending your money to identify ways to save. Prepare a household budget.
Use a wise borrowing strategy. Borrow for things that provide long-term value. Control the use of credit cards.
Establish a saving pattern. Consider an automatic savings program so some amount is deposited into a savings account each paycheck.
Set some savings goals. Whether it is accumulating a down payment for a home, paying for a car or saving for a vacation, connecting a tangible goal with your saving can provide the motivation and discipline you need to save.
Make sure you have adequate insurance.
Take advantage of employee benefit plans at work.

Stage Two - During Your Prime Earning Years

This is often a time when your income is rising as well as expenses. Nicer homes, nicer cars and children can easily consume your increasing income. This is also the time when the financial decisions you make will have the greatest impact on the financial lifestyle you will enjoy during retirement. By now, you should have developed some savings and the expertise to make sound choices.

Start early to save for children's college expenses. Consider using custodial accounts, Section 529 Plans or Coverdell Education Savings Accounts (Education IRAs) to get additional tax advantages with the college funds.
Take full advantage of employer offered retirement plans. If you have a 401(k) plan available, contribute as much as you can or at least enough to get the full employer matching contribution.
Invest wisely. Consider an asset allocation strategy that matches your time horizon and risk tolerance. Don't ignore the potential long-term returns of equities, but do your homework or rely on a qualified advisor.
Be sure your insurance protection has kept pace with your needs. Having adequate life insurance to protect your family, in case of your untimely death, is critical.
Prepare an estate plan to minimize taxes and to ensure your custodial, financial and medical wishes are carried out.

Stage Three - Nearing or During Retirement

These years can and should be some of the most enjoyable and fulfilling times of your life. If children and grandchildren are part of your life, then having the financial ability to help them can be rewarding. A successful career, the freedom to live the retirement lifestyle of choice and a sense of satisfaction with what you have accomplished can make your "golden" years truly enjoyable. However, there are still financial issues that should be addressed.

Be sure your medical insurance is adequate. The costs of medical care continue to rise and we are living longer. Medicare, Medicaid and private health insurance will all be important.
Be sure your estate plan is up-to-date. Changes in your financial situation, moving to a different house or state and changes in your family should all be triggers for reviewing your estate plan with a qualified estate planning attorney.
Continue to manage your investments carefully. If you are using an advisor or stockbroker, be sure to fully understand their recommendations before accepting them.
You've worked hard to get here. Enjoy!

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Protecting Your Mail

Wed, 22 May 2013 10:30:00 GMT

The mail you receive and send includes information that deserves special attention. Everything from account numbers and balances on financial accounts to the name and account number on checks you mail can be valuable to thieves and other scam artists.

Here are some ideas to help keep your mail secure:

Never send cash or coins. Use checks and money orders.
Do not leave mail you receive in your mailbox for any longer than necessary. If you are going to be gone, then have a family member or trusted friend take the mail from your mailbox. If you are going to be gone for an extended period, then have the post office hold your mail until you return.
Instead of placing outgoing mail in your mailbox with the flag up, drop off mail in a mail slot at a blue drop off box or at the post office. You can also just hand your outgoing mail to your mail carrier.
If you see suspicious individuals around your mailbox, then contact the post office or the police.
Investigate getting a lockable mailbox if you are very concerned.
Consider using a post office box or renting a private mailbox at a shipping and delivery store.
Use checks that are tamper-resistant and write checks in ink.
Have incoming checks automatically deposited instead of being sent to you. This direct deposit service may be available for your paycheck. The Social Security Administration can also accommodate direct deposit.
If you are expecting a check or other valuable piece of mail and do not receive it, then contact the sender. You can ask them to stop payment on a check if you think it has been stolen.
If you believe your mail has been stolen, then contact your postmaster.
If you do not receive your mail all of a sudden, then it is possible someone filed a change of address with the post office using your name. Contact your post office to inquire.
If you move or change address, then notify the post office and anyone you do business with through the mail.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Red, White and Blue at Fort Smith National Cemetery

Wed, 22 May 2013 09:10:00 GMT

A sea of red, white and blue will accompany the gravesites of fallen veterans in Fort Smith, Ark., this week. The Avenue of Flag Committee, a group of retired military personnel, will place American flags at the Fort Smith National Cemetery on May 23. Volunteers from the Vietnam Veterans of America,* Veterans of Foreign Wars,* Disabled American Veterans,* The American Legion* and Darby Junior High School* will be assisting.

Arvest will be grilling hotdogs at the Fort Smith National Cemetery located at 522 Garland Avenue and South 6th St, Fort Smith, Ark. for all the volunteers who give their time to place flags.

The flags will remain up till May 29. The Avenue of Flag Committee is looking for volunteers to help remove the flags on May 29. To volunteer please contact Joe Gibbs (479) 414-7048.

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

Welcome to the EMyth Perspective

Wed, 22 May 2013 08:05:00 GMT

The EMyth business development process has helped over 70,000 business owners during the last 35 years create businesses that are assets rather than just owning a job. A business as an asset means the entity exists apart from its owner so it can be run by someone else, sold or given as a legacy to a family member.

One of the most famous sayings coined by EMyth* is “working on your business, rather than in it.” You may have heard or read this somewhere, as this simple prescription holds the key to developing a business that works for you, instead of you toiling and laboring away working for it.

What does working on it and not in it mean? Simply you have to do far more than just deliver a service or product to your customers. You have to know how to lead, manage, control your finances, create your brand and differentiate it, along with having clear ways to market, sell and ultimately deliver and engage with your customers.

Working on it, and not in it, means you get out of the trenches, stop doing stuff and start thinking about how you do it. As we like to say, how you think about your business is how you do business.

For many business owners encountering EMyth provides a revelatory change of perspective that shifts the entire way they look at their business and what is most important to its development.

I love nothing better as a business coach than to experience this perspective shift with my clients. Once they realize the importance of this simple saying they get busy thinking, strategizing, creating then attaching those strategies to structures and systems to make the business integrated with each piece working together as part of the whole business organism.

Once you understand the difference between strategic work and tactical work you start realizing if you want things to be different you have to do them differently and it takes strategic thinking and planning to map out the new way. Once you get it, there’s not much stopping you, except some extra effort and time to develop your business as a true asset.

Just the other day I received a call from a past client, informing me he had successfully hired and trained a general manager to run his business for him, and he was now working to lift off a new business. This is what building a business is all about, creating an asset that doesn’t depend upon you. This is how you become a true entrepreneur, through the daily practice of working on it and not in it, based on your business vision and sticking to it until it’s realized.

You too can create a business as an asset. You just have to get started and work on it, step-by-step. In future articles, I will further explain exactly how to do it.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Oklahoma Branches Impacted by Severe Weather Updated 5/23 at 9:50 a.m.

Mon, 20 May 2013 16:15:00 GMT

Due to severe weather on Monday, May 20, both Arvest branches in Moore, Oklahoma remain closed until further notice. The community of Moore was hit by a tornado which continues to cause power outages in that community. Utility companies are working to restore service. Once service has been restored and our banking facilities have re-opened, we will update this blog. We are very thankful and fortunate to note that all Arvest associates are okay.

The Central Oklahoma Red Cross website contains information on how to get help and find loved ones impacted by the tornado.

We apologize for any inconvenience. We will update this blog as more information becomes available. You can bank 24 hours a day, 7 days a week using:

Arvest Mobile Banking: Register through Arvest Online Banking; Mobile Check Deposit is also available within the Arvest Mobile Banking App
Arvest Online Banking: Register at a branch or call us at (866) 952-9523
24-Hour Account Information Line: Register at a branch or call us at (866) 952-9523
ATM: Find a location online

Important Information about Filing Damage Claims from Severe Weather

Mon, 20 May 2013 16:00:00 GMT

Arvest Mortgage Company (AMC) hopes you and your family have evaded the recent stormy weather without any personal loss or damage to your home. Our thoughts are with anyone who has suffered a loss. We have many customers and associates who have been caught in the path of these recent storms.

If you have incurred damage to your home and will be receiving an insurance claim check, Arvest Mortgage Company is here to help. AMC is working with your local Arvest Bank to ensure the best possible service.

We want to make sure you are informed regarding our hazard claim procedures. Please review the information below. The information below does not apply to homes that are a total loss. For information regarding a home that appears to be a total loss, please contact us directly at (800) 232-5524.

Many times AMC is able to endorse insurance claim checks from your insurance company at your local Arvest Bank. If you have a claim check to be endorsed, then call your local Arvest Bank ahead of time to ensure an authorized insurance claim signor will be available upon arrival. In order for Arvest to endorse the check immediately, you will need to provide a copy of the adjustor’s claim, you will need to sign the hazard claim affidavit (provided to you at the bank) and the following criteria must be met:

Insurance claim check is $10,000 or less.
Mortgage loan is current and has a good payment history. (A good payment history exists if there are no payments 30 or more days late in the last 12 months.)
Current loan-to-value (LTV) is less than 95 percent.

In the event the claim check does not meet the guidelines above and AMC is unable to immediately endorse your insurance claim check, it will be forwarded to the mortgage company. This can be done by your local Arvest Bank, or you may mail the check, with your endorsement, to Arvest Mortgage Company, ATTN: Hazard Claims, P.O. Box 399, Lowell, AR 72745.

Please review the guidelines below for processing insurance claims and for disbursing insurance funds.

Once AMC receives the insurance claim check, the funds will be placed in an interest-bearing loss draft account. AMC will disburse check(s) made payable to both the borrower and applicable contractor once the following items are received:
- Hazard claim affidavit signed by borrower(s)
- Copy of insurance adjustor’s claim
- IRS W-9 form signed by contractor
- Contractor’s bill for work completed and/or any other documentation with proof of repairs.
- A completed contractor’s affidavit may be required if a general contractor was hired to make repairs.

Please note, a licensed and insured contractor must be used to make all repairs to the property. In addition, the property must be restored to at least its original value. In the event restoration costs exceed hazard claim funds, borrower is responsible for paying the difference.

All items above must be received by AMC before a disbursement can be made from the loss draft account. A check will be placed in the mail to you, the borrower, three to five business days after the receipt of all documentation. (Initial upfront disbursements may be provided in certain instances. Contact us at (800) 232-5524 for details.)
The following conditions also need to be met if the total claim exceeds 20 percent of the original property appraised value or is $50,000 or more:
- Up to four completed property inspections may be required and ordered by AMC. (Inspections performed by Arvest Mortgage Company are for internal use only and are not designed or intended to satisfy the borrower as to the quality of the repairs.)
- Please allow at least five business days for an inspection to be ordered and completed.

Please do not hesitate to call AMC with any questions you may have regarding our insurance claim procedures or any other questions regarding your mortgage loan. You may call (800) 232-5524 and an Arvest Mortgage Company representative will assist you.

Mercy Mobile Mammography Visits Various Locations in Arkansas and Oklahoma

Mon, 20 May 2013 08:05:00 GMT

A new 33 foot Winnebago commercial freightliner is making its way through the winding roads of the River Valley offering quick, convenient mammograms to patients who would otherwise have to travel a distance for them. Each year an average of 1,600 women are screened in Mercy’s Mobile Mammography unit as it travels through Sebastian, Crawford, Franklin, Logan, Yell, Scott and Polk counties in Arkansas.

Arvest Bank is hosting the Mercy Mobile Mammography* unit at our branch locations throughout the region. We are joining with Mercy to make it as easy as possible for women to get their yearly mammograms. Early detection can save lives. By offering this service we hope to help women catch breast cancer in its earliest stages, when it is the most treatable.

Women will be able to register for a 15-minute appointment when the van is visiting their area. The screenings offer the same quality imaging you would get at a hospital.

The Mercy Fort Smith Mobile Mammography van will be performing mammogram screenings at the following Arvest Bank locations on the following dates 9 a.m. – 2 p.m.:

May 21: 205 E. Walnut, Paris, Ark.
May 22: 4800 Kelley Hwy, Fort Smith, Ark.
June 19: 11808 Hwy 71 So, Fort Smith, Ark.
June 26: 1107 So Rogers, Clarksville, Ark.
July 17: 408 Hwy 64 West, Alma, Ark.
July 24: 224 So Coker, Greenwood, Ark.
July 31: 811 W Ruth, Sallisaw, Okla.
August 14: 3002 N Broadway, Poteau, Okla.
August 21: 1608 Hwy 71 N, Mena, Ark.
October 9: 205 East Walnut, Paris, Ark.

Most health insurance plans will cover the cost of this exam but may require a deductible payment. If you do not have health insurance that will help pay for this exam, then please let Mercy know at the time of the call. They may be able to provide you with the exam at no charge through Mercy Community Benefit funding sources.

To schedule an appointment for a breast screening, call Mercy at (479) 314-6066.

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

Arvest Offering Free Military and Patriotic CheckCards in Honor of Armed Forces Day and Memorial Day

Fri, 17 May 2013 11:40:00 GMT

Arvest Bank is offering free patriotic and military themed CheckCards to customers between Armed Forces Day, May 18, and Memorial Day, May 27, in recognition of the brave men and women who gave their lives for our country. Be sure to order your card by May 25 as we will be closed May 26 and 27 in honor of Memorial Day. Customers can view the cards at arvest.com/style and order cards by calling customer service at (866) 952-9523.

FAYETTEVILLE, Ark. — In recognition of Armed Forces Day and Memorial Day, Arvest Bank is giving their customers the opportunity to honor those who serve with one of the bank's military and patriotic themed CheckCards. Between Armed Forces Day, May 18, and Memorial Day, May 27, the military and patriotic themed affinity debit cards will be free to new and existing Arvest customers.

Military and patriotic CheckCards are always free with any new checking account; existing customers are typically charged a one-time replacement fee of $5. Arvest is waiving the replacement fee between Armed Forces Day and Memorial Day.

As of March 2013, more than 31,000 Arvest customers were carrying a military or patriotic themed CheckCard. There are seven of these card options, representing the Air Force, the Army, the Coast Guard, the Marines, the Navy, and also a ‘USA Pride’ debit card. The ‘USA Pride’ card is the most popular affinity card for Arvest, with over 15,500 customers using this card.

This offer for free military and patriotic CheckCards is for any Arvest checking account, whether a customer is new or already banking with Arvest. For an existing Arvest customer, the CheckCard number will not change with the request for new military or patriotic card art. Customers should confirm with an Arvest associate they want to keep their existing card number.

Arvest is dedicated to supporting our communities and those that serve our country, and we know our customers want to show their pride and support for their country as well. Armed Forces Day and Memorial Day are a time to appreciate those who serve in our military, and offering these free military and patriotic affinity cards is just a small way that Arvest is saying thank you.

Personalized debit cards, a growing trend in recent years, allow customers to choose a specialty design for their debit card – from a picture of a customer’s pet to their local high school sports teams or just a particular area of interest. Often referred to as affinity cards, this is just one way the banking industry is quickly adapting to growing consumer demand for personalization.

Arvest issued their first affinity card in 2008 in Northwest Arkansas, a card featuring the logo of the regional professional baseball team, the Naturals. The bank launched a full affinity card program in 2011 that took the trend even more local, as they developed cards for local high school sports teams. Over the past year, Arvest has doubled the number of options for affinity cards for their customers and now offers more than100 cards. The designs range from the military cards to local high school mascots to a quirky mustache design.

To view the seven patriotic and military cards, along with our other specialty cards, visit arvest.com/style. Order specialty cards by calling customer service at (866) 952-9523.

Baby Boomers Becoming Their Own Boss

Fri, 17 May 2013 10:05:00 GMT

Did you know people ages 55 to 64 are more likely to launch their own business than any other age group (according to the Ewing Marion Kauffman Foundation)? In fact, nearly half (roughly 7.4 million Americans) of all self-employed workers in the U.S. are members of the baby boomer generation.**

While the risks of setting off on a new business venture are substantial at any age, they can be even greater for these older individuals. Financing the company with savings and retirement funds may be tempting, but you'll have less time to work and restore that money if the enterprise falls short. A reality made more dire by the fact nearly one-third of start-ups fail within two years, and fewer than half remain after four years, according to the U.S. Small Business Administration (SBA).

However, older entrepreneurs do have at least one advantage over their younger counterparts -- wisdom born from experience. If your experience, personality and passion have you pining for self-employment, then the following steps may help you get your big idea off the ground.

Research and Development
It may not be possible to prepare for every obstacle and opportunity along the way to establishing your business, but it is important to try. Helpful resources abound. The SBA,* SCORE* and Small Business Development Centers* can assist you in finding free or low-cost business start-up courses and business advisors. The SBA provides an online checklist for starting a business which can help you assess your business idea, your motivation for launching a business and how well-suited your personality, skills and experience are to running a business. It may also help you highlight areas where you need more research.

Put It in Writing
Writing a business plan can help you outline your ideas and obtain needed funding. A business plan describes your business idea, shows how and why it will work, discusses business operations and forecasts the financial help you'll need and what you hope to earn. Your business plan should contain the following:

Business description. Outline what product or service you will offer, who will buy it and why, as well as the competition.
Marketing. Describe how you plan to reach your potential buyers and persuade them to buy from you. This is also the place to discuss pricing.
Financing. Calculate how much money you will need to launch your business, operate it for a year and address where you expect to obtain the money you need.
Management. This section covers the fundamental details, such as day-to-day operations, schedules, equipment and space issues, insurance needs, etc.

Seek the Help You Need
Arvest Bank takes time to understand the needs of your business and how we can help it succeed. Our business bankers are knowledgeable and can offer you valuable financial insight. Call or visit your business banker for help finding a loan that's right for your business.

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution. ** Source: Bureau of Labor Statistics.*

Accumulating a Down Payment on a Home

Thu, 16 May 2013 13:55:00 GMT

Figuring out what home price you can afford will largely depend on the monthly payment. The monthly payment not only includes principle and interest but also a monthly amount for property taxes and homeowner’s insurance.

The minimum down payment when buying a home will typically be determined by the loan program you choose and can range from 0-20 percent of the purchase price. If you are able to put down more than the minimum, then you will be able to have a lower monthly payment. However, you should also remember it may be nice to have some extra money available after you move into your new home. New carpeting, new furniture or improving the landscaping all take money and you don’t want to stretch yourself too thin.

Accumulating a down payment
As simple as it sounds, most people end up saving for a couple of years to accumulate the amount needed for a down payment on a home. This may mean dining out less or finding more cost-effective dining and entertainment options.

An easy way to save is to enroll for an automatic savings plan at your financial institution. Have a certain amount transferred from your checking account to a dedicated savings account each month. This provides some discipline and you may be able to use a money market type of account to earn more interest.

Consider taking a staycation in order to save money. A staycation is like a vacation, but without the expense and time of actually traveling. The most expensive part of vacations is usually the combination of travel, accommodations and meals. While staying local will certainly save you money, you should still set a budget for your staycation. Your budget will probably be less than if you were going away, but more than you would spend at home. A staycation will still provide a way to have a break but will also give you the opportunity to save money.

Ponder opportunities to earn additional income. One option is a part-time job. This can be working for another company or working for yourself. Examine your skill set. Have you practiced a hobby for so long you’ve become an expert? Enjoy cake decorating or playing piano. Contemplate teaching classes or lessons. If you’re not willing to commit to a second job year round, then consider a seasonal job, perhaps during the summer or Christmas, to earn some extra money to add to your savings.

Borrowing money from a family member is unacceptable funds for loan approval. However, a gift of money is acceptable. You may want to explore the option of gifted money.

Conclusion
Buying a home, especially a first home, is a big financial and emotional step, so do your financial homework. Take the time to meet with an Arvest Bank mortgage lender and develop a plan to become a home owner. It will take time to prepare, but it will be well worth it when you move in.

The views of this article are for general information use only. Please contact and speak with an Arvest Bank mortgage lender when specific advice is needed.

Block Street Block Party in Fayetteville, Ark.

Thu, 16 May 2013 10:25:00 GMT

Looking for a fun outdoor party to attend this Sunday, May 19? Block Street Block Party in Fayetteville, Ark., is the place to be! From 11 a.m. until dark Block Street* up and around the Fayetteville Square will be packed with family-friendly activities, live music and food. If last year’s 75 artists, businesses, vendors and community groups are any indication, then you can expect fun and funky activities of interest for everyone from families with little tikes to single adults. Mobile bug unit, beer gardens or feather hair extensions anyone?

The event is organized by the Block Street Business Association and many sponsors like Arvest Bank. Some of this year’s participants include Little Bread Company, Arsaga’s, Houndstooth, Dark Star Visuals, Riffraff, Mustache, Hugo’s and more!

Come join the community members who plan to attend this year’s event. Last year over 12,000 people joined in on the fun!

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

Free Fingerprinting for Kids in Fort Smith, Ark.

Thu, 16 May 2013 08:10:00 GMT

You’re invited to the sixth annual Kids Safety Fair on May 17, from 3–6 p.m This free event is an educational and entertaining activity that provides valuable information and “DNA LifePrint” kits to help families. The event will be held at the Ross Pendergraft Park* located at 200 Garrison Ave., Fort Smith, Ark.,

Activities will include free hot dogs and chips, a fire truck that kids can climb in, the sheriff department's mobile command center, music, a karaoke machine and more!

Get a free DNA LifePrint Kit which includes:

FBI Certified Biometric Palm and Fingerprint profile
Child Safety Journal
Home DNA ID Kit that is easy to use and lasts for years
High resolution full color digital photograph of your child

Participating Agencies Include:

Target
DNA Lifeprint
Morgan Nick Foundation*
Arkansas State Police*
Sebastian County Sheriff's Office*
Reynold's Cancer Support House
Fort Smith Fire Department*
...and many more!

For more information please visit the U.S. Marshals Museum Programs* website.

Presented by Cox. Sponsored by Arvest Bank, Bedford Camera & Video and Channel 5. Hosted by the U.S. Marshall Museum and Arvest Bank.

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

Third Friday Kicks Off in Rogers, Ark.

Wed, 15 May 2013 10:10:00 GMT

The 2013 Third Friday series in downtown Rogers, Ark., will kick off on May 17 with a community shrimp boil and live music on the Frisco Stage from 5-9 p.m. The May Third Friday* event will headline a blues and rock and roll performance by Leah and the Mojo Doctors.* The fun will take place at Frisco Park,* located at First and Elm streets.

The inaugural shrimp boil will setup in the parking lot next to the Frisco Stage. The traditional shrimp boil will include fresh shrimp, corn, Andouille sausage and potatoes, served with choice of iced tea or bottled water for $12 per person. Only 200 tickets for the shrimp boil will be sold, and they are available in advance on Main Street Rogers* organization’s site. Looking for a kid-friendly option? A hot dog, corn and drink will be sold for $4 per person. There are also 15 restaurants in the downtown Rogers area for additional dining options. A beer garden will also be offered at this year’s events.

Amongst the fun visitors can also explore an educational opportunity with a QR code walking tour of 15 historic buildings. To participate use a smart phone to scan QR codes and learn notable information about the buildings. Some of the family-friendly activities include pony rides, inflatables, Baggo bean bag games, a climbing wall and more! Arvest will be one of numerous vendors with a booth at the event.

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

ATMs Added in Missouri

Wed, 15 May 2013 09:25:00 GMT

For your convenience, we’ve added five Arvest cash dispensing machines throughout Missouri. These new machines are outside in Wal-Mart parking lots next to Murphy USA gas stations. These cash dispensing machines allow customers to do everything they can do on an ATM except make deposits and setup and use ATM Preferences. Arvest customers will have the ability to conduct withdrawals, make transfers and request balance inquiries on the machines.

The new machines are in the following locations:

1106 N. Massey Blvd., Nixa, MO
1721 S. 19th St., Ozark, MO
1140 US Highway 60 E., Republic, MO
2106 N. Main Ave., Mountain Grove, MO
3516 W. Sunshine, Springfield, MO

Machines will soon be placed in the following locations:

3018 S. Elliot, Aurora, MO
14727 State Highway, Marshfield, MO

The Twin Business Killers

Wed, 15 May 2013 09:25:00 GMT

The story of King David reminds me how devastating pride and arrogance can be to an organization. It seems like everything went King David’s way for a long time, and just for a brief period of time this great leader let pride and arrogance get the best of him.

Although it was generally in his nature to be humble, he slipped into pride and arrogance momentarily as he admired all the wealth and success he acquired. The result of this migration from humility to pride was devastating for those around David as tens of thousands of lives were lost.

While I don’t typically use illustrations from the Bible to write my business blogs, I think this story has a universal application all of us need to be aware of, especially if we have experienced any degree of success in our jobs, businesses or leadership roles.

It is fine to enjoy success, talents or wealth I have no problem with that whatsoever. It’s when a person develops the attitude of superiority, acts presumptuously, or has inordinate self-esteem or conceit that he/she can get into trouble.

In my experience, pride and arrogance are team killers, and frequently business killers as well. This is especially true of leaders who, like David, forget they had tremendous help from other people during their journey to success.

Within the leadership realm, pride and arrogance can lead to complacency, and when that sets in, look out! Soon the competition, which is already moving at the speed of light, will gain a foothold and begin snatching away customers from a company with a complacent leader. Even more tragically, when business declines and employees need to be laid off, how many families and their futures will be adversely impacted by the leader’s pride, even if it is just for a moment?

Of course these twin devastators aren’t limited to leaders. Arrogant employees can also do great damage to teams. I once had a teacher at our preschool who wanted special privileges and a different set of rules from the other employees. This situation caused great dissention among the other team members, and when asked to conform, this teacher’s pride led her to quit rather than be a strong team player.

So what’s the antidote to pride and arrogance? How do we maintain healthy, humble, hungry, high performing businesses? Here are my thoughts:

It starts with you. You have the opportunity to shape the culture of your business, and if you remain humble, chances are good you will develop a humble culture.
Celebrate your successes, but only give yourself a certain amount of time before you get moving again. I remember Alabama’s coach Nick Saban saying he was going to celebrate their national championship for two days then start preparing for the next year. Maybe a bit extreme, but the point is he wasn’t basking in his own glory.
Keep people around you who care about you and who are not afraid to tell you when you are heading down an arrogant or prideful path. Make sure you don’t punish them for being honest with you.
Keep a list of all the people who have played a role in your success. Reach out and thank them periodically.
Focus on other people, not on yourself. Go out of your way to help them succeed. Compliment them on their strengths and contributions to your business.
Keep learning, changing and growing. Business is moving faster than ever, and you will have to learn, change and grow in order to compete successfully.

No matter how successful we are, we all need to stay humble, focused and engaged in order to maintain and increase our success.

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center.

Eight Simple Steps to Reduce Your Financial Anxiety

Mon, 13 May 2013 13:05:00 GMT

Simplify your finances with these steps to take control of your financial future.

Have your paycheck or government check deposited directly into your checking account.
Establish a regular savings program by having a set amount of money transferred into a money market account each month.
Have your auto loan and credit card payments automatically made from your checking account which is possible with Arvest Online BillPay.
Establish a home equity line of credit to be available for unexpected expenses.
Set up a "dollar cost averaging" purchasing program for investments.
Save for a child's college education with an automatic transfer into a special savings account.
Review your 401(k) elections to make sure you are taking full advantage of the program.
Commit to having a financial review, including your estate plan and investment strategy, over the next three months.

With these eight steps you can make your daily financial life less stressful and have the peace of mind knowing you are doing the right things.

Welcome New Branch Managers

Fri, 10 May 2013 15:05:00 GMT

We're excited to announce seven new branch managers have joined Arvest Bank as part of newly acquired branches in Pittsburg, Kan. and in the following Missouri cities: Joplin, Monett, Carthage, Lockwood and Nevada. Branch managers are responsible for the leadership and direction in providing quality customer service and focus on sales, performance, growth and business development.

Carrie Martin joined as branch manager at the Arvest branch at 402 S. Rangeline Rd., Joplin, Mo. She attended Crowder College, Missouri Southern State University and has nine years banking experience. Carrie, her husband and two children live in Neosho.

Tina Felder joined the team and will serve as branch manager at the Arvest branch at 100 E. Broadway, Monett, Mo. She has a B.S.B.A. in Management/Marketing from Missouri Southern State University and has over six years banking experience. An active member of the community, she has served on the Board of Directors of Habitat for Humanity Neosho Chapter for the past six years. Tina and her husband have been married 22 years and have two daughters.

Brenna Staples will serve as branch manager at the Arvest branch at 425 W. Central Ave., Carthage, Mo. She attended Missouri Southern State University and has eight years banking experience. An active community member, she has served on the Board of Directors for the Carthage Humane Society. Brenna, her husband and their son own a small cattle farm and live in Carthage.

Jessica Adkins joined the Arvest team and will serve as branch manager at the Arvest branch located at 2424 Fairlawn Ave., Carthage, Mo. She attended Missouri Valley College and has five years banking experience. Jessica and her husband have four children.

Jennifer Oeltjen will serve as branch manager in 704 Main St., Lockwood, Mo. She has 14 years banking experience. Jennifer is involved in the Lockwood Youth Athletic Association and the Lockwood Parents/Teachers Organization and currently serves as treasurer for both groups. Jennifer is a life-long member of the Lockwood community and has two children.

Carmen Williams joined the team and will serve as branch manager at 401 E. Austin Blvd., Nevada, Mo. She graduated from Missouri Southern State University and has four years experience as a branch manager. Carmen is active in the community, serving as vice president of the Vernon County United Way and is a board member for the Nevada Lions Club.

Brandi Frazier will serve as branch manager at 216 N. Broadway, Pittsburg, Kan. She attended college at Missouri Southern State University and has over five years banking experience. Brandi and her husband have two children.

We’re happy to have these talented and experienced individuals serving our customers in Missouri and Kansas.

Biz Spotlight: Prairie Grove Telephone Company

Fri, 10 May 2013 14:25:00 GMT

What started with two brothers trying to communicate between their two businesses in 1888 has evolved into the Prairie Grove Telephone Company of Prairie Grove, Ark., that we know today. Dr. E. G. McCormick of Prairie Grove decided to string telephone lines between his medical office and his brother's pharmacy so they could interact in a more efficient manner. Little did he know what an impact this simple act would do to benefit the people of his town and the surrounding area.

Within a matter of time, McCormick and his partners had run a phone line approximately twenty miles from Prairie Grove to Fayetteville. At the time, this was the longest telephone line in the state of Arkansas.

The Prairie Grove Telephone Company* has been a friend and neighbor working side-by-side with the community. They have been keeping pace with the needs and development of their customers in western Washington County. Today the company services over 6,000 residential and business customers in Prairie Grove, Farmington and Lincoln, as well as the rural parts of the county with broadband and high speed Internet services.

During the Great Depression, their customers were struggling to just stay alive. The Prairie Grove Telephone Company refused to disconnect a single phone due to non-payment and even accepted payment of eggs, vegetables, and sometimes even a cow. Neighbor helping neighbor is what living in a small community is all about.

The Prairie Grove Telephone Company still shares this philosophy of service today. Awarding scholarships to area students in Prairie Grove, Farmington and Lincoln, is one of the ways the company support the community.

"We have been around for as long as many of our customers' parents and grandparents have,” said David Parks, president of the Prairie Grove Telephone Company. “People like that they can come to their local phone company and talk face-to-face with someone they know."

The phone company also values its friendly and trusted service that it shares with the local Arvest Bank branches in western Washington County. The Prairie Grove Telephone Company also appreciate Arvest’s extended drive-thru hours and customer focused approach to banking.

"Focusing on the customer first is a philosophy we've had for more than 100 years and it's a philosophy we share with Arvest," Parks said. "Whenever we need them, Arvest is always ready to help."

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

New Branch Managers Join Arvest in Carthage, Mo.

Wed, 08 May 2013 14:10:00 GMT

We are pleased to announce Jessica Adkins has joined the Arvest team and will serve as branch manager at the Arvest branch located at 2424 Fairlawn Ave., Carthage, Mo. Jessica will be responsible for leadership and direction in providing quality customer service and focus on sales, performance, growth and business development. She attended Missouri Valley College and has five years banking experience. Jessica and her husband have four children.

Also joining Arvest is Brenna Staples who will serve as branch manager at the Arvest branch located at 425 West Central Ave., Carthage, Mo. Brenna will also be responsible for leadership and direction in providing quality customer service and focus on sales, performance, growth and business development. She attended Missouri Southern State University and has eight years banking experience. An active community member, she has served on the Board of Directors for the Carthage Humane Society. Brenna, her husband Zachary and their son own a small cattle farm and live in Carthage.

Keep Your Hardworking Employees Happy

Wed, 08 May 2013 11:25:00 GMT

Economic indicators may have you feeling cautiously optimistic about the economy, but you’re not the only one sitting up and taking notice. Employees who have worked longer hours for less pay during the economic downturn appear to sense the improving conditions, too, and they may be on the look-out for greener pastures. The Department of Labor reports the rate at which workers are quitting their jobs is on the rise, hitting 1.9 million in December 2011.* That may mean there’s a growing perception among employees that jobs are available. So how do you retain the hardworking employees who’ve seen you through the tough times? Make them happy!

Putting Incentives to Work
Bonuses and pay raises are one way to tell your employees you appreciate their work, but with a still-fragile economy you may want to opt for more economical strategies for rewarding your talent.

Flex time. Studies show workers who telecommute or work reduced office hours actually work with more intensity and report lower stress, higher job-satisfaction and greater loyalty to their company than fellow workers tied to a rigid 9 to 5 schedule.
Work perks. Corporate memberships, such as a discounted membership at a fitness center or a suite at a local sports arena, offer fringe benefits that promote employee well-being and satisfaction.
Wellness initiatives. Create a culture of good health by removing vending machines filled with soda and junk food, conducting meetings in small groups while going for a walk, sponsoring employees’ membership in weight loss programs or setting aside space for employees to store their bikes. Healthy employees are more productive, have better morale and save you money in health care costs.
Professional development. Foster talent within your workforce by investing in employees’ training and education. In addition to workshops and seminars, you can augment employees’ skill-sets by allowing them to shadow co-workers with more expertise, delegating tasks to employees who need a new challenge and creating teams to tackle problems for on-the-job training in handling real issues.

Reap What You Sow
From high-level talent to low-level workers, happy employees create a ripple effect that can bring a smile to everyone’s face, improving productivity and your bottom line. To create a plan that works for your business, ask your employees for their thoughts. Companies that invest in and listen to their employees – from the corner office CEOs to line workers – reap the rewards of increased employee engagement and reduced costs during times of both economic growth and recession.**

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center.

* Source: The Bureau of Labor Statistics, www.bls.gov.
** Source: “Profit at the Bottom of the Ladder,” www.mcgill.ca/files/ihsp/profitatthebottomreport.pdf.