First Arvest Blows Away Competition

First Arvest Bank of Siloam Springs dominated Small Business Administration lending in 2000. Its 12 SBA loans were double that of any other single bank in the market.

First Arvest’s SBA portfolio totaled $1.5 million, nearly $200,000 more than any other lender. Arkansas National Bank made 13 SBA loans that totaled $2.4 million, but that was spread out over four locations for an average of $609,825 each.

The Siloam Springs bank’s performance is especially impressive since its volume increased from two loans totaling $75,000 in 1999 when it operated as First National Bank of Siloam Springs. Clifford Gibbs, First Arvest’s senior vice president and loan manager, said the name change likely had nothing to do with 2000’s performance.

He also added that SBA lending is often cyclical and that the bank did record a solid year in 1998. But he said the bank has made a commitment to its SBA portfolio.

Gibbs said last year First Arvest devoted two people to working with SBA loans, and their expertise and due diligence work made all the difference.

Roger Holroyd, First Arvest’s senior commercial lender, and SBA loan officer Tammy Engle comprise the bank’s small business team. Holroyd, a certified public accountant with a master’s degree in finance, did well in his philanthropy work, too. He earned the Benton County United Way’s Volunteer of the Year award.

“We have two really talented people who are helping build our reputation for working with small businesses and startups,” Gibbs said. “We’ve given Tammy our whole SBA portfolio, and she’s really developed a good feel for what the SBA wants up here.

“We just decided not to approach SBA lending as a passing product but something we emphasize.”

Gibbs said the key has been learning how the SBA looks at loans and what types of proposals come into the bank. First Arvest has a strong working relationship with the local SBA office, he said, and the bank has learned the importance of making borrowers knowledgeable so they can present a legitimate request.

Arkansas National Bank’s Bentonville location had the second-highest individual volume with six loans totaling $697,300. It was the dollar leader in 1999 with six loans totaling $2.6 million.