Fayetteville-chartered Arvest Bank, the state’s largest bank with $26.1 billion in assets, originated record mortgage volume for the third straight year.
The bank’s total 2021 mortgage loan volume of more than $4.77 billion eclipsed the previous record of $4.68 billion set in 2020. The bank’s total mortgage loan volume in 2019 was $2.8 billion.
“Continued adoption of our digital tools, low rates and tremendous support from our mortgage associates and business partners allowed us to help more than 21,000 customers in 2021 and helping that number of families and individuals is extremely rewarding,” mortgage division president and CEO Matt Kendall said in a statement. “It’s also worth noting how we embraced changes such as allowing customers to sign documents remotely to maintain our service level under trying circumstances.”
The bank’s Northwest Arkansas region made 4,341 loans worth $968.3 million last year. The area includes Benton and Washington counties in Arkansas, Barry and McDonald counties in Missouri and Adair and Delaware counties in Oklahoma.
Arvest services 99% of its mortgage loans, meaning customers make their payments to Arvest and work directly with the bank after the loan closes. Arvest services more than 270,000 mortgage loans, totaling more than $53 billion.