Arvest Bank Receives Federal, State Regulatory Approval For BOA Deal

by Talk Business & Politics staff ( 7 views 

Arvest Bank’s acquisition of 29 Bank of America locations across four states has received regulatory approval from state and federal regulators.

In December 2012, Arvest Bank entered into an agreement with Bank of America to purchase twenty-nine locations and certain deposit accounts and loans associated with those locations, including nine in Arkansas.

Additionally, the deal involves fifteen branches in Missouri, four in Oklahoma and one in Kansas. Bentonville-based Arvest Bank operates more than 240 bank branches in Arkansas, Oklahoma, Missouri and Kansas.

The purchase has received regulatory approvals from the state banking department and the Federal Reserve Bank of St. Louis, according to a spokesperson for the bank.

The deal will close on March 22, 2013.

The branch locations included in this agreement in Arkansas include Harrison, Hot Springs, Hot Springs Village, Mountain Home and Russellville; communities in Missouri include Aurora, Branson, Branson West, Carthage, Cassville, Forsyth, Joplin, Lebanon, Lockwood, Monett, Mountain Grove, Neosho, Nevada, Shell Knob and West Plains; communities in Oklahoma include Muskogee and Tahlequah; and in Kansas the community included is Pittsburg.