Arvest Action

Updated deposit market share data isn’t yet available through the Federal Deposit Insurance Corp. But no one expects any bank to topple Bentonville-based Arvest Bank Group Inc.’s hold on the deposit share.
However, many are wondering if some of the new and new-to-the market banks will bite into “big blue’s” core deposits.
This much we know: the bank was recently told it had provided more than $100 million in federally insured deposits to Promontory Interfinancial Network through the Certificate of Deposit Account Registry Service.
CDARS allows depositors to earn CD-level interest rates in one account valued above $100,000, rather than capping CDs at $100,000, the traditional FDIC maximum insured. PIN is Arvest’s contracted CDARS provider.
An Arvest source said the bank had a 5.52 percent increase in year-over-year loan production in the Fayetteville-Springdale-Rogers MSA between August 2005 and August 2006, and it saw a 3.86 percent increase in the value of its area deposits, which should be about $2.7 billion.