Arvest Bank Surpasses $1B Mortgage Mark for 15th Consecutive Year

Tuesday, August 01 at 10:00 AM
Category: Arvest News

Arvest Bank announced today that its mortgage division has originated more than $1 billion in mortgage loans for the 15th year in a row. That includes both purchase-money and refinance loans. This is the earliest the bank has reached the $1 billion mark since 2013, indicating a strong real estate market in the communities the bank serves.

“We are honored that our customers choose Arvest for their mortgage business, both when purchasing a home and in situations when our low rates provide them the opportunity to refinance and improve their financial position,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division. “The majority of loans we are issuing are purchase-money loans, which is a healthy sign for our markets, and rates are still very good.”

Arvest reached the $1 billion mark almost a month sooner than it did last year. As of July 24, Arvest had closed a total of 5,696 loans with a total loan value of $1,004,913,837. In 2016, the bank reached the $1 billion mark on Aug. 19.

“The housing market is very robust, with record home sales in some areas and certainly competitive lending rates,” said Plaisance. “Consumer confidence has been strong and that’s certainly reflected in the mortgage industry.”

This is the fourth consecutive year in which purchase-money loans account for more of Arvest’s total mortgage loan volume than refinances. Through July 24, purchase-money loans accounted for 64 percent of the company’s total loan volume. That’s up from 58 percent in 2016. 

“The continued year-over-year increase in purchase-money activity in our markets is yet another strong indicator of the health of those local economies,” Plaisance said.

Through July 24 of this year, Arvest made 3,687 purchase-money loans with a volume of $645,467,279. That’s up from 3,390 loans and $555,367,905 in volume compared to year-to-date totals on July 24, 2016.

Arvest’s overall volume of $1,004,913,837 – on 5,696 loans as of July 24, 2017 – is up from $860,630,640 on 5,360 loans as of July 24, 2016. That’s a 16.8 percent increase compared to the same time last year.

The average loan size at Arvest as of July 24 for this year also increased, compared to the same period last year, from $160,565 to $176,424, reflecting improving values in the real estate market.

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and work directly with Arvest for any needs after their loan closes.

Tags: Arkansas, Kansas, Lending and Financing, Missouri, Mortgage, Oklahoma, Press Release
 

Arvest Bank Presents a Night to Benefit United Way in Medicine Park, Okla.

Friday, June 30 at 05:35 AM
Category: Arvest Community News

Arvest Bank is proud to present a night of dinner, music and dancing – all to benefit the United Way – on Friday, July 28.

The BBQ, BAND & BREW fundraiser will be held at the Medicine Park Music Hall and feature a performance by the Smilin Bob English Band.

Doors will open at 6:30 p.m. and the band’s performance will start about 7 p.m. Festivities will conclude at 11 p.m.

Arvest’s commitment to the communities it serves is a core part of its philosophy, and proceeds from this event will be donated to the United Way.

Individual tickets are $40 and will be sold at all local Arvest branches. Table sponsorships also are available.

Seating is limited; contact Lindsay Roman at lroman@arvest.com or by calling (580) 250-4547 for details.

Tags: Charitable Giving, Community Support, Oklahoma, Press Release, Southwest Oklahoma
 

Loch Promoted in Oklahoma City

Thursday, June 15 at 06:15 AM
Category: Arvest Community News

Banking veteran named assistant vice president.

OKLAHOMA CITY – Arvest Bank is pleased to announce Charles Loch has been promoted to assistant vice president in its Oklahoma City market.

Loch, who serves as the branch sales manager at the Arvest location at 1900 S. Douglas Blvd. in Midwest City, has more than eight years of industry experience.

Loch earned a Diploma in Ministry from Global University and is pursuing a degree in business technologies with an office management option at Oklahoma State University – Oklahoma City. He is actively involved with the Midwest City Chamber of Commerce, a graduate of Leadership Midwest City 2017, and a member of its alumni association.

Originally from Choctaw, Loch lives in Midwest City with his wife, April, and their four children.

Tags: Associates, Oklahoma, Oklahoma City, Press Release
 

Mortgage Staff Beefs Up in Benton County, Ark.

Tuesday, June 13 at 05:15 AM
Category: Arvest Community News

Dunham, Andrade and Davis bring experience and expertise.

BENTONVILLE, Ark. – Arvest Bank is pleased to announce three additions to its mortgage team in Benton County.

Randy Dunham has been named mortgage loan officer and vice president, while Laura A. Andrade and Heather Davis will serve as mortgage lenders.

Dunham has worked in mortgage lending since 1993, and most recently managed Arvest’s internet mortgage lending department.

“We’re glad to have Randy on our team,” said Maria Lau, Arvest’s mortgage loan manager in Benton County. “His experience is an invaluable asset, particularly when it comes to the relocation process. He really understands what our customers in those situations require and is able to tailor his service.”

Dunham, who will office at Arvest’s Financial Center branch in Bentonville, earned a bachelor’s degree in finance and banking at the University of Arkansas. He and his wife, Rebecca, have one daughter and are active members at Christ’s Church of Oronogo.

Andrade began her banking career in 2002 and currently offices at Arvest’s branch on New Hope Road in Rogers. She lives with her husband and their two children in Bentonville, where they are active members of Bentonville Church of the Nazarene.

“Laura has a real passion for her work,” Lau said. “She is a great reflection of Arvest’s core values, and that shows in the work she does helping her clients understand their unique needs and how to address them.”

Davis began her career at Arvest in 2010, and has been part of its mortgage operations since 2013. She offices at the bank’s downtown Bentonville branch.

“Heather is yet another associate who understands how to identify her clients’ needs and find the best way to address them,” Lau said. “She has worked in both Benton and Washington counties, which often gives her a perspective our customers appreciate.”

 

Tags: Arkansas, Arvest Benton County, Associates, Press Release
 

Hernandez Named Assistant VP in Oklahoma City

Monday, June 12 at 05:40 AM
Category: Arvest Community News

Banking veteran with nine years of experience promoted.

OKLAHOMA CITY – Arvest Bank is pleased to announce Martin Hernandez has been promoted to assistant vice president in its Oklahoma City market.

Hernandez, who serves as the branch sales manager at the Arvest location at 2025 Sonoma Park Drive in Edmond, has nine years of banking experience and has been in his current position for five years. He previously managed an Arvest branch in Reno and has won numerous internal awards for management and sales and service.

Originally from Chickasha, Hernandez lives in Oklahoma City, where he is active in several civic endeavors, including American Heart Association and YWCA.

Tags: Associates, Oklahoma, Oklahoma City, Press Release

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