Arvest to Acquire 29 Banking Locations in Four States

Thursday, December 13 at 03:00 PM
Category: Arvest News

Fayetteville, Ark. - Arvest Bank announced today it has entered into an agreement with Bank of America Corporation (NYSE: BAC), to purchase twenty-nine banking locations and the deposit accounts and certain loans associated with those locations. The locations being acquired are all within or close to existing Arvest markets.

The purchase is subject to receiving regulatory approvals, which are expected in the first quarter of 2013. Under the agreement, Arvest will purchase certain assets, including eighteen branch locations owned by Bank of America, most deposit accounts such as checking, savings, IRAs and CDs belonging to households and small business customers who live in the local area and are conveniently serviced at these locations, as well as lease obligations for eleven other branch locations.  The transaction does not include credit card, mortgage, brokerage or trust accounts.

Arvest considers the purchase of branches and customer accounts within its existing footprint a strong indicator of the bank’s commitment to community banking.  In addition to growing the number of branches in Arvest’s existing footprint, this transaction will establish Arvest in twelve new communities close to existing markets. Each of these new locations will join one of Arvest’s locally-managed community markets once regulatory approvals are finalized and the transition is completed.

Bank of America locations involved in this agreement in Arkansas include Harrison, Hot Springs, Hot Springs Village, Mountain Home and Russellville; communities in Missouri include Aurora, Branson, Branson West, Carthage, Cassville, Forsyth, Joplin, Lebanon, Lockwood, Monett, Mountain Grove, Neosho, Nevada, Shell Knob and West Plains; communities in Oklahoma include Muskogee and Tahlequah; and in Kansas the community included is Pittsburg.

Of the twenty-two communities involved, eighteen currently have one Bank of America location. In the other four communities – Hot Springs, Russellville, Tahlequah and Muskogee – there are multiple locations being acquired.  

Arvest Bank is working closely with Bank of America to ensure a seamless transition for both customers and employees. Once the transaction is complete, Arvest Bank expects many Bank of America employees to transition to the company and keep their current positions.

Bank of America customers whose accounts are assigned to these specific branch locations do not need to do anything at this time. They should continue to use their current Bank of America checks, debit cards and other products and services until they are contacted by Bank of America and then subsequently by Arvest Bank after the transaction is approved.

Customers of these Bank of America locations can learn more by visiting our Welcome Page.  Below is a listing of each individual location involved in the deal.

 

List of Bank of America locations included in the purchase:

Arkansas

  • Harrison - 700 US Hwy 62-65N 
  • Hot Springs - 301 Exchange 
  • Hot Springs - 1500 Albert Pike Road 
  • Hot Springs - 4400 Central 
  • Hot Springs - 1550 Malvern Avenue 
  • Hot Springs Village - 111 Cordoba Center 
  • Mountain Home - 650 South St. 
  • Russellville Main - 209 West Main St 
  • Russellville Drive-thru - 121 South Boulder 

Kansas

  • Pittsburg - 216 North Broadway 

Missouri

  • Aurora - 138 E. Church St. 
  • Branson - Veteran's Blvd 
  • Branson - West 18491 State Hwy 13 
  • Carthage - South Motor Bank 2424 Fairlawn Ave. 
  • Cassville - 503 Main Street 
  • Forsyth - 115 Shadowrock Dr 
  • Joplin - 402 S. Rangeline Rd 
  • Lebanon - 104 N. Jefferson Ave. 
  • Lockwood - 704 Main Street 
  • Monett - 100 E. Broadway 
  • Mountain Grove - 111 N. Maple Ave. 
  • Neosho - 719 S. Neosho Blvd 
  • Nevada - 401 E. Austin Blvd 
  • Shell Knob - 714 Hwy 39 @ YY 
  • West Plains - 1311 Porter Waggoner Blvd 

Oklahoma

  • Muskogee - 230 W. Broadway 
  • Muskogee - N. 3rd Street 
  • Tahlequah - S. Muskogee Ave 
  • Tahlequah Drive-In – 123 W. Shawnee St.

 

 

 
Tags: Arkansas, Arvest Benton County, Arvest Growth, Fort Smith, Joplin, Kansas, Little Rock, Locations, Missouri, North Central Arkansas, Oklahoma, Springfield, Tulsa
Lisa Fimpel on 12/13/2012 at 9:38 PM
I got really excited when I read this, but I need an Arvest Bank in Woodward, Oklahoma!! Please, Please, Please Arvest open a bank in Woodward, Oklahoma! Thank you!!!
David S on 12/16/2012 at 11:05 AM
Right now I have no fees whatsoever with BOA. I get free cks, free overdraft protection unlimited amount linked to my savings account, no monthly fee with $5000 in combined ck and savings, email or paper statements with photo copies of canceled cks, have two credit cards with low interest rates below 7%, can go to any ATM in the USA with no fees on transactions. Any many other services at no charge..Free online banking with free bill pay and free transfers to other banks or accounts. Both accounts are interest bearing. So WHY should I stay with Arvest when I will have to pay for these services when I get them free now?????? I started with Boatman's Bank, then it went to Peoples Bank, then Nations bank and now BOA for the last 15 Yrs. WOW change is coming at a price now. Guess you could say I am shopping around now. I have already found two local banks that offer pretty much what I have now minus a few services. Think twice before staying with Arvest.
Arvest Blog Admin on 12/17/2012 at 1:56 PM
David - Thank you for sharing your concerns with us about the transition of some Bank of America branches to Arvest Bank and understand you may have questions. We do want to try and address some of your concerns. Arvest does have many of these services available, depending on the checking account you have. Our Preferred Checking account comes with most of these items and is available at no charge based on the total banking relationship. Please keep in mind that all products are not transferring to Arvest Bank. Your credit cards will remain with Bank of America unless you make a change. Arvest is nationally recognized for our high levels of customer satisfaction and we hope you will give us an opportunity to earn your business. Please feel free to call (866) 952-9523 to learn more about our products and services. Thank you again.
Todd on 12/17/2012 at 11:05 PM
Please acquire the BOA branch in Ponca City, OK!
Arvest Blog Admin on 12/18/2012 at 4:36 PM
Lisa and Todd - Thanks for your comments. We appreciate your feedback and excitement on this acquisition! This helps us as we evaluate future opportunities.
Karin on 12/18/2012 at 7:19 PM
I having been using Arvest for 5 years. I love them!! I am moving to the Nevada area and was upset to lose my bank. I am sooo excited that I won't be losing you guys!! Congrats on the acquisition!!!
Arvest Blog Admin on 12/18/2012 at 7:57 PM
Karen - Thank you for your kind words and being a loyal Arvest customer. We are very glad you'll be able to stay with us after your move!
Tracie on 12/19/2012 at 6:08 PM
I am THRILLED that Arvest is coming back to Hot Springs Village. I have been using Arvest for years and have no complaints other than they closed the HSV branch years ago. So glad they are coming back!!
Arvest Blog Admin on 12/19/2012 at 9:00 PM
Tracie - We are excited and happy to be a part of the Hot Springs Village community! Thanks for continuing to be a loyal Arvest customer. We appreciate your business!
Jennifer Sorensen on 12/22/2012 at 2:58 PM
I live in Hot Springs National Park, but my Bank of America accounts were opened in Florida, and thus will remain Bank of America accounts. Does this mean I will no longer have a local bank? Or will Arvest continue to service Bank of America customers at these branches regardless of the merger?
Arvest Blog Admin on 12/22/2012 at 5:27 PM
Jennifer - These particular Bank of America locations will become Arvest Bank locations in spring 2013. Once this transition is complete, we will be unable to facilitate transactions for Bank of America accounts at these branches. Bank of America customers who do move to Arvest as a part of this transition will be able to continue to use these branches as well as the rest of our branch and ATM network once the transition is complete. Thank you for your question.
GLORIA GRIM on 2/14/2013 at 6:49 PM
I am concerned that we will not have access to the large number of ATM's both nationally and internationally free of charge.
Arvest Blog Admin on 2/15/2013 at 1:25 PM
Gloria – Thank you for your comment and we understand there are many questions Bank of America customers like you may have about banking with Arvest. As a regional bank our ATMs are located in Arkansas, Oklahoma, Missouri and Kansas. For a full list of Arvest ATM locations visit arvest.com and use the branch and ATM locator. Although Arvest does not offer nationwide ATMs, we do hope you give us a chance to earn your business. Please visit www.arvest.com/welcome for information about this transition, we'll be adding updates and more details frequently over the next 30 days. We look forward to the opportunity to serve you!
julia on 3/10/2013 at 1:34 AM
Arvest changed my original checking account and started charging me a monthly service fee. Have been unable to get the girl scout account straightened out as to who can check balances and who is on the account. I so wanted another account with Arvest so I can give them more of my hard earned money. I am also shopping for another bank.
Arvest Blog Admin on 3/11/2013 at 1:36 PM
Julia – We’re sorry to hear you’re dissatisfied. We’d like to discuss your Girl Scout account and your checking account options. Please give us a call at (866) 952-9523.
Brittney on 3/13/2013 at 6:04 PM
I am a truck driver, and opened my account in Joplin, Mo. I am from the south, but now live in Arizona... ARVEST is USELESS to me, but I am getting debit cards and crap in the mail?? How do I stop this? Do I have to close this account and go to my local BofA to open a new one? This is very frustrating, if I had wanted a small regional bank with fees and terrible customer service I would have opened an account with Arvest in the first place!
Arvest Blog Admin on 3/13/2013 at 8:00 PM

Brittney - We are sorry to hear you’re unhappy about this change. We would like the opportunity to earn your business.

If you’d like to learn more about Arvest accounts or Mobile Check Deposit, then please call us at (855) 768-8784 or visit www.arvest.com/welcome.

If you would like to stay with Bank of America, then you may call them to inquire about the options available to you. Their number is (866) 251-0233.

David Olson on 4/5/2013 at 3:44 PM
This has been the most unprofessional thing I have ever seen.. I have never had this many problems with a bank and I've only been with you for like 2 weeks! First off you never sent me my card so I ordered a new one and right when I got it it had to be canceled because of activity on the account before I even had access to the account.. so here I am again waiting another 2 weeks for a card I'm guessing, cuz thats how long it took to get my SECOND card. as soon as I get my money back I will be moving my account. I miss you BOA!!!
Arvest Blog Admin on 4/5/2013 at 6:27 PM
David - We sincerely apologize the transition hasn't been a smooth one. We will have a member of our Customer Service team contact you to help resolve the situation.
Robert Cook on 4/14/2013 at 2:41 PM
My wife had accidentally written a check on our old bank of America Account after The transfer to Arvest. Will there be a grace period for these transactions where bank Of America will forward these transactions to arvest?
Arvest Blog Admin on 4/15/2013 at 3:30 PM
Robert - Any Bank of America checks written prior to March 23 will be honored for up to 45 days as long as your Arvest account has sufficient funds. Please contact Customer Service at (855) 768-8784 for information on checks written after March 23.
jo cole on 4/21/2013 at 11:34 PM
right after the change to Arvest I was looking for an Arvest bank ATM in Spfld Mo on a Sunday. I tried to call customer svc but they were closed. I used GPS on my phone & a Garmin, every ATM that was suppose to be a ARvest ATM was not when I got there and would charge a fee. There are numerous BOA ATMS in Spfld and I finally had to use one of them and pay a $3 fee. Also, the weekend of the change to arvest my father died in another state. I was trying to coordinate my telephone banking with my pin# on my money market acct. I called in about 5 times, after waiting long times on hold, and spoke to different reps and none could help me. After I returned home I found out the reason I could not use my money market account was because it is a checking account not a savings account as it says on the paperwork Arvest sent. Also, during the transition the phone lines were so busy after waiting on hold for 20 minutes the call would drop. I was dealing with funeral arrangements and no money from ATM's and unable to transfer money from my money market account because my pin would not work with my account number. It has been very inconvenient because I've to notify in excess of 20 companies for direct deps, insurance payments, and various bill pays to change routing numbers. I have been with BOA since they were Centerre & Boatmans Bank and never had problems like these. No regard with given to the customers convenience only what was easy for arvest.
Arvest Blog Admin on 4/22/2013 at 5:36 PM
Jo - We're sorry we've let you down. We'd like to have a member of the local Springfield management team give you a call. Please email your phone number to interact@arvest.com so we know where to reach you.

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