2025 Economic Impact Awards 11-20 Years in Business: Arvest Bank

Though Arvest Bank’s corporate roots stretch back more than 60 years to northwest Arkansas, its presence in the Springfield area began just under a couple decades ago. Arvest Bank has made short work of its time in the market to become one of the area’s largest banks.

Arvest, which was founded locally in 2007, reported 2024 local revenue of $75.6 million, with 135 people employed in the area. Arvest Bank ranked No. 11 in deposits held in the Springfield metropolitan statistical area as of June 30, 2024, the most recent data on file with the Federal Deposit Insurance Corp. Arvest’s $529.3 million in MSA deposits at that time represented a roughly 3.2% market share.

Jason England, president and CEO of Arvest’s Springfield region, attributes its local growth to myriad factors, including a key acquisition and a growth mindset.

England pointed to Arvest’s 2018 acquisition of Little Rock, Arkansas-based Bear State Financial Inc., which past Springfield Business Journal reporting indicates more than doubled Arvest’s deposit market share across the five-county Springfield MSA and grew its physical footprint, as well.

“It over doubled our exposure in Springfield,” England says. “Before that, we had a 1.28% market share.”

Another pivotal moment for Arvest Bank’s Springfield region was the period after the COVID-19 pandemic, England says, when loan demand in the area was high.

“We had a lot of deposits to lend out. That was part of it was our willingness to invest in the community in an uncertain time,” he says.

That growth mindset has now permeated Arvest’s culture, England notes.

“It’s a mindset of growth in everything that we do,” he says.

Along with that mindset, Arvest has also gotten creative with its workforce, as evidenced by the 2021 and 2022 hirings of seasoned economic development professionals Andrea Sitzes and Ryan Mooney. Both now serve in commercial banking roles and represent hires that benefit Arvest’s goal of being a trusted adviser for commercial customers, England says.

“Their relationships that they had through the economic development process ... is something you can’t teach,” England says. “Their rolodexes are very deep. They worked with every business in Greene and Christian counties in some form or fashion.”

Among its employees, Arvest Bank encourages a volunteer mindset to help give back to the community. Company officials say that 85% of local employees dedicated time to volunteering in 2024, contributing a combined 2,236 hours in service. The company’s local donations and sponsorships totaled $270,928 in 2024, with campaigns such as Million Meals and We Love Teachers.

“I think it goes to how we hire. We have a high level of customer service,” England says. “There’s a big correlation between serving others and volunteering.”