Arvest Bank Completes Bear State Bank Conversion
FAYETTEVILLE, Ark. (Sept. 25, 2018) – Arvest Bank is pleased to announce that it completed Monday the transition and conversion process of Bear State Bank customers, branches and systems.
Arvest entered an agreement to acquire Bear State Financial, Inc. – the parent company of Bear State Bank – in August 2017. The cash transaction valued at approximately $391 million brought Arvest’s total assets to approximately $18.76 billion, and total number of branches in Arkansas, Kansas, Missouri and Oklahoma to more than 270. Arvest entered 15 new communities – and added 20 branches – in Arkansas, Missouri and Oklahoma via the acquisition.
“We couldn’t be more excited to welcome our new customers,” Arvest president and CEO Kevin Sabin said. “We believe they will feel right at home with Arvest, and we look forward to getting to know them and our new communities even better. This has been a long process, but as we’ve said from the beginning, the customer-first approaches of both Arvest and Bear State have made this a natural fit.”
In addition to a significantly larger branch network, former Bear State customers also will benefit from an expanded portfolio of financial products, services and solutions – such as wealth management services, robust mortgage programs, agri banking and equipment financing – now available to them. Many of these benefits are available not just in bank branches, but via Arvest’s online and mobile banking platforms.