Arvest Passes $1 Billion Mark in Mortgage Closings
by June 15, 2009 12:00 am 65 views
We told readers back in April that Arvest Bank Group Inc. had already closed more than $500 million in mortgage applications in the first quarter. That was half of the bank’s total for calendar 2008, in which it did $1.04 billion.
Well, the pace has held and even accelerated a little. Arvest officials tell us they passed the $1 billion mark in mortgage closings as of June 10 and that the bank is on pace to meet its 2008 total by the end of the second quarter. That’s bankwide and includes mortgages in Arkansas, Oklahoma, Missouri and Kansas — refinancing and new purchases.
We’re hard-pressed to think of any bank (or any business at all) that can say it has done that with a line of business from one year to the next. Arvesters must be doing something right.