Kendall retires, Boomer steps in as president, CEO of Arvest Bank mortgage division
by April 30, 2024 6:40 am 814 views
Matt Kendall, left, and Pete Boomer.
Fayetteville-chartered Arvest Bank has named Pete Boomer its new president and CEO of the bank’s mortgage division. Boomer assumed the role on April 22.
He replaced longtime executive Matt Kendall, who has retired from the company after more than 30 years.
Boomer, who has over three decades of experience in the financial industry, will oversee the management and operations of Arvest Bank’s mortgage business. He most recently was the president of an independent mortgage company in Chicago. Throughout his career, he’s held leadership positions with some of the largest financial institutions in the U.S.
“Pete’s extensive background in mortgage origination, servicing and technology make him a great choice to lead our mortgage division,” said Matt Machen, president and chief operating officer for Arvest Bank. “His knowledge and customer-first mentality will be valuable as we continue our focus of delivering innovative and competitive mortgage solutions.”
Kendall worked in various roles since joining Arvest in 1992, including serving as president and CEO of Waco Title Co.— owned by Arvest Bank Group since 2000. The bank named him president and CEO of its mortgage business in 2021 to succeed Steven Plaisance.
A bank spokeswoman said Kendall will remain with the bank part-time, serving as a member of the mortgage division board and in an advisory role to help with the transition.
Kendall said his retirement plan was going to work with his brother, Clay Kendall, who is the managing partner of WealthPath Investment Advisors in Rogers.
“We’re grateful to Matt for his service and dedication over the years,” Machen added. “His leadership has been key to making Arvest Mortgage a top lender in our region.”
Arvest is one of the state’s largest banks, with more than 830,000 retail and business customer households. It has more than 200 locations that are part of 14 locally managed banks in approximately 110 communities in Arkansas, Kansas, Missouri and Oklahoma.
According to the FDIC, as of Dec. 31, 2023, the bank’s total assets were $27.6 billion, and its deposits totaled $21.7 billion. Last year, the bank’s mortgage division funded 7,101 loans for $1.9 billion.