Arvest Bank Completes Acquisition Of National Bank Of Arkansas
by December 7, 2013 11:45 am 392 views
A bank deal announced in October has closed.
Arvest Bank announced Saturday (Dec. 7) that its acquisition of National Bank of Arkansas (NBA) through NBA’s holding company, National Banking Corp. has been completed.
The conversion of NBA accounts and operations into Arvest will not be completed until early February. As a result, former NBA accounts and branches will not be converted over to Arvest accounts and branches until that time, the bank said.
Bentonville-based Arvest and North Little Rock-based NBA will still operate on completely separate computer and account systems. This also means that current customers of Arvest should wait before attempting to do their banking at former NBA locations, bank officials said. Arvest Bank will send notifications to former NBA customers in early 2014 with details about the account and branch conversion.
In October, Arvest Bank Group, Inc. entered into a definitive agreement with NBC to purchase 100% of the issued and outstanding stock, or 93,843 shares, of NBC to Arvest Holding Company, Inc., a subsidiary of Arvest Bank Group for an undisclosed sum.