Arvest signs ATM deal with area Walgreens

Arkansas-based Arvest Bank has reached an agreement with Walgreens Co. (NYSE: WAG) as well as automated teller machine provider Welch Systems Inc. to rebrand existing Welch ATMs in 17 area Walgreens stores as Arvest machines.

The three-way agreement, details of which were not disclosed, is the first of its kind for Arvest, which operates more than 200 bank branches in Arkansas, Oklahoma, Missouri and Kansas.

As part of the same agreement with Peoria, Ill.-based Welch Systems, Arvest also now has an ATM presence inside the Branson Airport.

The bank entered the Springfield market in June 2007, opening its first branch in leased space on Bradford Parkway. Arvest broke ground in July on its third Springfield location, at Chestnut Expressway and National Avenue, which is scheduled to open in the spring. The bank also operates branches in Nixa, Branson, Hollister and Shell Knob, as well as several in the Joplin area.

"As we continue to grow in the Springfield area, we're always looking for the right opportunities for us to offer our customers more convenience," Michal Moss Early, vice president and sales manager of Arvest in Springfield, said in a news release. "This partnership is a great fit for both companies, and we're excited to work with Walgreens for the benefit of our customers."

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