Arvest Bank is a bank headquartered in

Bentonville, Arkansas Bentonville is the List of cities and towns in Arkansas, tenth-largest city in Arkansas, United States and the county seat of Benton County, Arkansas, Benton County. The city is centrally located in the county with Rogers, Arkansas, Rogers adja ...

, with branches in

Arkansas Arkansas ( ) is a landlocked state in the South Central United States. It is bordered by Missouri to the north, Tennessee and Mississippi to the east, Louisiana to the south, and Texas and Oklahoma to the west. Its name is from the Osage ...

Kansas Kansas () is a state in the Midwestern United States. Its capital is Topeka, and its largest city is Wichita. Kansas is a landlocked state bordered by Nebraska to the north; Missouri to the east; Oklahoma to the south; and Colorado to the ...

Oklahoma Oklahoma (; Choctaw language, Choctaw: ; chr, ᎣᎧᎳᎰᎹ, ''Okalahoma'' ) is a U.S. state, state in the South Central United States, South Central region of the United States, bordered by Texas on the south and west, Kansas on the nor ...

, and

Missouri Missouri is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it is bordered by eight states (tied for the most with Tennessee ...

. It is the oldest bank in Arkansas and is on the

list of largest banks in the United States The following table lists the 100 largest bank holding companies in the United States ranked by total assets of June 30, 2022 per the Federal Financial Institutions Examination Council; their market capitalization is also shown. This list does not ...

. It is almost entirely owned by the

Walton family The Walton family is an American family whose collective fortune derived from Walmart makes them the richest family in the United States of America. Overview The three most prominent living members (Jim, Rob, and Alice Walton) have consist ...

. In addition to banking, Arvest provides financial services including loans, deposits,

treasury management Treasury management (or treasury operations) includes management of an enterprise's holdings, with the ultimate goal of managing the firm's liquidity and mitigating its operational, financial and reputational risk. Treasury Management includes a fi ...

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high- ...

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

title insurance Title insurance is a form of indemnity insurance predominantly found in the United States and Canada which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlike ...

mortgage loan A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any p ...

s, and mortgage servicing.

Company history

Arvest's charter dates back to McIlroy Bank & Trust, founded in 1871. During the

financial crisis of 2007-2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of finan ...

, the bank declined funds from the

Troubled Asset Relief Program The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President G ...

Acquisitions

In December 2009, in a transaction organized by the

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...

, the bank acquired SolutionsBank of

Overland Park, Kansas Overland Park ( ) is the second-most populous city in the U.S. state of Kansas. Located in Johnson County, Kansas, it is one of four principal cities in the Kansas City metropolitan area and the most populous suburb of Kansas City, Missouri. As o ...

, which suffered from

bank failure A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. A bank usually fails economically when the market value of its assets ...

. SolutionsBank had 6 branches and assets of $511 million. In June 2012, the bank acquired Union Bank. In March 2013, the bank acquired 29 branches in Arkansas, Kansas, Missouri and Oklahoma from

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...

. In April 2018, the bank acquired Bear State Financial, with 42 branches and $2.2 billion in assets.

Controversies

In June 2010,

Blanche Lincoln Blanche Lambert Lincoln (born Blanche Meyers Lambert; September 30, 1960) is an American politician who served as a United States Senator from Arkansas from 1999 to 2011. A member of the Democratic Party, she was first elected to the Senate in ...

, a U.S. senator from Arkansas was accused of pushing for an increase to an asset threshold in a financial regulation bill to benefit Arvest. Lincoln stated that she did not want any bank in Arkansas to be affected by the bill.

External links

References

{{Reflist, 1 1871 establishments in Arkansas Banks based in Arkansas Banks established in 1871 Bentonville, Arkansas Privately held companies based in Arkansas