Arvest Sets Date to Complete Acquisition

Arvest Bank agreed to buy 29 Bank of America locations — and certain deposit accounts and loans associated with those locations — in December.

On March 25, the vast majority of those facilities will open as Arvest branches, according to a news release issued by the bank on Monday. The purchase has received regulatory approvals, and will close on March 22.

Also according to the release, Arvest will take ownership of eighteen branch locations, as well as lease obligations for the remaining eleven. In-state locations included in the acquisition are in Harrison, Hot Springs, Mountain Home and Russellville. The remaining locations are in Kansas, Oklahoma and Missouri.

Arvest “considers the addition of these branches and customer relationships within its existing footprint a strong indicator of the bank’s commitment to community banking,” the release stated. Arvest also expects many employees to transition to the company and keep their current positions.