Arvest Equipment Finance Sees Significant Loan Growth
Division's Performance Recognized by Industry Publication
FORT SMITH, Ark., (March 27, 2015) — Arvest Equipment Finance (AEF), a division of Arvest Bank, continued to see steady growth in 2014, ending the year with $146.4 million in loans and leases. That number represents a year-over-year increase of 9.2 percent in volume.
This time last year, AEF reported an 8.3 percent growth rate in loan and lease volume from 2012 to 2013. The consistent growth is even more apparent when considering AEF ended 2009 with loan and lease volume of $54.9 million.
AEF's 2014 increase is in line with national trends, as investments in equipment grew from $827 billion in 2013 to $903 billion in 2014 – an increase in loan volume of 9.2 percent.1 Growth in this banking segment is predicted to be about 6 percent in 2015.2
Also in 2014, and for the first time, AEF ranked 50th in the top 50 of bank-affiliated equipment leasing and finance companies in the U.S. by MonitorDaily, a leading publication of the equipment leasing and finance industry. The Monitor Bank 50 focuses on the performance of banks actively engaged in the equipment finance industry, including net asset size, new business activity and market share, as well as other portfolio metrics, highlights and forecasts.
"Equipment financing is a critical source of funding for our community businesses that allows them to acquire the equipment and software they need to operate and grow, AEF president and CEO Kyle W. Gilliam said. "We're excited to see this growth in the communities we serve and see it as an indicator of a healthy economy. Here at AEF, we work closely with Arvest lenders, and so we've been able to successfully inform customers about the benefits of using AEF. One of these benefits is the ability to finance up to 100 percent of the cost of equipment with no down payment."