Arvest Bank

[AP]

Steve is reporting that Arvest will be the anchor tenant at 201 Robert S. Kerr. I don't have a subscription, so if someone could summarize, that would be awesome.

[okatty]

Basically will be renamed Arvest Tower and they will occupy 40K feet on first and mezzanine levels.

[Pete]

They are just taking the space previously occupied by BOK before they moved to BOK Park Plaza.

That space sat empty for a couple of years.

[warreng88]

Are they consolidating from other space downtown or outside of downtown?

[bombermwc]

I believe they are currently mostly in Del City at the Arvest tower. Unfortunately for Del City, it's going to be hard to fill that 7 floor building.

https://images.app.goo.gl/vmPjFmcB7zffTGP88

[HOT ROD]

unfortunately for Del City, I would think having a downtown office tower presence is much better for the bank, employees, and customer given the synergy of just being downtown.

It'd be nice if somehow Arvest could retain the D/C office though so not all is lost for that community. Was that Del City tower a former hospital or something?

[bombermwc]

I believe it was purpose built for a bank, although i do not know what the name of the bank was at that time. This would have been late 70s or early 80s.

[Pete]

Arvest is closing several of its branches in Arkansas, Missouri, and Oklahoma including those in the Walmart Super Centers at 6100 W. Reno, Belle Isle and NW Expressway and Council.

They had announced they were closing 31 of their 270 branches.

[TornadoKegan]

There is word going around that Arvest Bank is in the process of being bought out by a major bank. can anyone verify?

[The]

Isn’t Arvest a major bank? I thought it was owned or backed by Walmart?

[Swake]

Isn’t Arvest a major bank? I thought it was owned or backed by Walmart?

Arvest is owned by the Walton family directly, not through Wal-Mart.

[The]

Arvest is owned by the Walton family directly, not through Wal-Mart.

Got it. Thank you.

[runOKC]

Isn’t Arvest a major bank? I thought it was owned or backed by Walmart?

Arvest is a big bank, $26 billion in assets. But it would be a drop in the bucket for someone like Chase to buy them ($3.5 trillion in assets). No idea if they are being bought or not, but there are big banks and then there are BIG banks.

[BG918]

Arvest is owned by the Walton family directly, not through Wal-Mart.

Arkansas Investment Bank

[Will Dearborn]

Arkansas Investment Bank

That's just a coincidence - they originally planned on naming it RVest but they decided to add the "A" so it'd show first in the phone book...most banks in Benton County at the time were "Bank of..." or "First National..."

Immediate family was an EVP at Arvest in NWA (employed since the 60s prior to merger), I'll ask around. Surprised they didn't already mention it if something's happening.

[Snowman]

Arvest is a big bank, $26 billion in assets. But it would be a drop in the bucket for someone like Chase to buy them ($3.5 trillion in assets). No idea if they are being bought or not, but there are big banks and then there are BIG banks.

Granted Chase and BOA have gotten to the size they are not legally able acquire more under normal circumstances, plausible if FDIC needs a bank insolvency resolved quickly, but pretty clearly not the case here. Citi and Wells Fargo are getting near that point too.