Arvest opens first Springfield branch with plans for another

Bank officials held a ribbon-cutting Tuesday at the 1435 E. Bradford Parkway branch, which opened for business in June. In conjunction with the event, Arvest associates presented a $5,000 donation on behalf of the Walton Family Foundation to Crisis Nursery of the Ozarks. Some members of the Walton family, which has ownership in Wal-Mart, also have ownership in Arvest and serve on its board of directors.

The office is Arvest’s 220th branch in four states – and the first of several planned for Springfield.

Officials are working to close on property at 2403 W. Republic Road and plan to build a full-service branch between 4,000 and 6,200 square feet, according to local manager and Assistant Vice President Michal Moss Early. The second bank will feature drive-through lanes and be more retail-oriented, while the first Springfield location will remain focused on private banking services, Early said.

The new branch should open by September.

Meanwhile, Early said the bank continues to search for land in Springfield to build three to five more locations over the next three years.

On whether Arvest sees a challenge in expanding in what some call an overbanked market, Early said there appears to be enough demand to support it.

“Everybody thought that about our Joplin market as well, and we’ve been very successful there, and we’ve been in that market now for 10 years,” she said. “It takes a little bit of time, but I think with the products and services we have to offer, Springfield will prove to be a good place for Arvest.”