Arvest Bank Subsidiary Issues Revenue Report
by March 28, 2016 12:00 am 141 views
Arvest Wealth Management announced today that it produced record revenue in 2015, the sixth consecutive year the subsidiary of Fayetteville-chartered Arvest Bank has done so.
The company recorded revenue of $57.9 million in 2015, up more than 6.3 percent from 2014’s total of $54.5 million.
Arvest Wealth Management reported total assets under management of more than $9 billion as of Dec. 31, 2015.
“We believe our growth in 2015 can be attributed to strong earnings in portfolio management and trust revenue despite challenges presented by a volatile stock market over the same period,” Arvest Wealth Management president and CEO Jim King said. “We also benefited from internal initiatives to expand our scope in terms of meeting the investment needs of Arvest Bank customers.”
Arvest Wealth Management has set new standards for revenue every year since 2010, when it reported revenue of $39.3 million. The company, which changed its name from Arvest Asset Management earlier this year, offers wealth management, trust services and insurance products.