Arvest Bank is headquartered in Fayetteville and is the 2nd largest bank in the state of Arkansas. It is also the 89th largest bank in the nation. It was established in 1871 and as of September of 2019, it had grown to 6,271 employees at 277 locations. Arvest Bank's money market rates are 2X the national average, and it has an A health rating.
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Small Town Shawnee Bank
I started with Arvest when it was really small. My grandmother married for the 2nd time to the president of American National Bank in Shawnee, OK. This bank later became Arvest. I probably started with them in '96. I had mortgages on 3 homes over time. Checking, savings, debit and managing my Aunt's Living Trust account, so I ran the full gamut with them, except investments. I was not a big money person at all; very middle class BUT the people there knew my name and who I was there to see, offered coffee, popcorn, short wait times, excellent customer service, personalized service. Over time the bank grew from the one downtown location to 3 locations. By the time I left Shawnee, I had personal contacts in all 3 locations. Then I move to Menifee, CA. WOW!! What a change. No one knows my name after 2 1/2 years, longer waits, impersonal but good service. It's a whole different world. I miss the small town mentality. The friendliness. I worked high end retail for my last 8 years in OK, and so many of the bank employees started to come in just because I mentioned it. Some became friends. (I even remember way back when, the American National Bank had a cafeteria upstairs, for their employees and my grandmother and I would go down to have lunch with her hubby, the Prez.)
Arvest Oklahoma Service
I was an Arvest customer almost since they first arrived in Oklahoma. First rate service and very professional. Sorry I had to leave them but sadly, Arvest in not located near my new home...
Arvest - Back When I Started With Them
When I started with Arvest in Shawnee, OK, it was probably 1998 or so. They were very local (AR and OK only). They were right downtown. The reason I went to them in the first place with my banking is that they used to be called American National Bank (even more local). My grandmother had remarried to Mr. H.T. Riddle when I was in college (she was 68 and he was 83). He was, at that time, President of American National. They had a full cafeteria! Of course, they eventually became Arvest and they were still the stereotypical small town bank. I had checking only with them when I started. BUT, when I walked in someone would greet me by first name and ask if I wanted coffee, etc. Originally coming from CA, it was a novelty! They had the ubiquitous popcorn machine, coffee, water, etc. There was always someone there able to answer my questions. If I had to wait it was 10 minutes at most. Eventually I had checking, savings and a mortgage through Arvest. I still have 2 checking accounts, even after moving back to CA; my checking and one for the Rev. Living Trust for my recently deceased Aunt, Jo Garrett. I moved back to CA 2 year ago and they no longer write mortgages in CA or I would still have my mortgage with them. They were a great experience. Currently, I am with Chase. NOT a small-town bank. Nobody knows my name. I have no complaints about them but they are not Arvest. Thank you.
My Arvest Banking Experience
I have been a customer of Arvest for nearly my entire. Their service is fast, easy, and reliable. They allow checks to be deposited with camera phones and their cards are accepted at every store across the country which is always a plus. They have one of the best fraud departments, in my personal experience that is. Anytime a charge is made without the customer's approval, a representative freezes the account and calls the customer to make sure they are the authorized user. This is a common feature but they are great at customer service. Best of all, these services are entirely free. It costs nothing to open an account or to make a transaction for personal accounts. If you open a business account there is a fee of $100 which is reasonable. All in all a good experience.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 8728 |
| Year Established | 1871 |
| Employees | 6271 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.78% |
| Return on Equity - YTD | 6.77% |
| Annual Interest Income | $568.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $19.33B$18.46B |
| Loans | Q3 2019vs Q3 2018 | $12.82B$12.20B |
| Deposits | Q3 2019vs Q3 2018 | $16.40B$15.83B |
| Equity Capital | Q3 2019vs Q3 2018 | $2.25B$2.05B |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $143.9MM$124.8MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $103.8MM$94.0MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $15.6MM$36.2MM |
