Address: 200 E. Main St., Norman, OK 73069
Phone: 405 321 7170
Description: Arvest Bank was founded in Bentonville, Arkansas in 1961. It currently operates in 16 locally managed markets in four states: Arkansas, Oklahoma, Missouri, and Kansas with most of its banking locations in the state of Oklahoma. Arvest Bank has over 230 branches and 5000 employees overall. The company has over $11 billion in assets and ranks among the top 100 banks in the U.S. The company provides a wide range of banking services that includes treasury management, deposits, asset and wealth management, life insurance, credit cards, mortgage loans and servicing, general loans, and SBA loans.
Arvest Bank saw a growth of 53% in their SBA loan division at the end of its fiscal 2010. It provided a sum of over $36 million in SBA loans to small businesses that year. Arvest Bank provides several types of SBA loans ranging from the SBA 7(A) and SBA 504 to SBA Express and SBA Express Patriot. Majority of all businesses can qualify for these loans with the limit set to $5 million for the SBA 7(A) and the SBA 504; the SBA Express limit and the SBA Express Patirot limit is $1 million and $500,000, respectively, for all companies that qualify.
Jim Walton, son of the famed Sam Walton of Walmart Inc., oversees the company as its Chairman and CEO. In 2011, Arvest Bank exhibited a growth in net earnings; the company recorded a net income of $82.5 million, in juxtaposition, the company recorded a net income of $49.5 million in the previous year. When ranked by deposits, Arvest is the largest Bank in the state of Oklahoma.