Relationships and flexibility help bank meet needs of customers
Growing from a small bank in a small town to a regional bank located in communities of all sizes, Arvest has maintained a resolute focus on the customers it serves and the places where they reside for more than six decades.
“At Arvest, we are dedicated to enhancing the lives of our customers, communities and associates by making intentional, positive changes in how we do business,” said Ron Witherspoon, president and CEO of Arvest Bank in central Arkansas.
“To make a positive impact, we continually listen to our customers and associates, engaging in productive discussions to better understand their needs. This input drives us to build a more diverse and inclusive culture, focused on strengthening our communities and providing opportunities for all.”
Arvest was created through a series of bank acquisitions, starting in 1961 with The Bank of Bentonville, which had $3.5 million in deposits at the time. Today, Arvest operates more than 200 banking locations that are part of 14 locally managed banks in more than 110 communities, with total assets exceeding $26 billion, according to the company.
The bank was voted Best Bank, and Olivia Davis was voted Best Mortgage Loan Officer in the 2023 Arkansas Democrat Gazette’s Best of the Best balloting and was a finalist in the Best Mortgage Company category. These honors underscore the steps the bank has taken to stay on the forefront of all aspects of operations, leveraging technology while maintaining a high degree of customer service.
“We are grounded in our principles of relationships and flexibility. With that in mind, we are also redefining what it means to be a community-focused bank in a digital world,” Witherspoon said. “Our customers’ needs are unique and evolve during their lifetime. To remain true to our mission statement of ‘People helping people find financial solutions for life,’ we must progress and adapt to better anticipate customers’ needs.”
In 2022, Arvest embarked on a multiyear transformation strategy by which it prioritized investments across people, processes and technology. Witherspoon said this has enabled the bank to introduce products and services to help individuals, families and businesses thrive.
“Our journey of implementing a transformation strategy while adhering to our principles and practices is a balancing act,” he said. “Along the way, we have stayed true to our core philosophy of putting the needs of our customers first while also transforming some of the means we use to get there.”