Arvest taps Parnell as first local board member

Prior to being named Drury president, Parnell, a Branson native, spent 35 years in the banking industry.

He served as president, chief operating officer and board member of The Signature Bank and president, CEO, founding investor and board member of The Bank. Those institutions merged and later became BancorpSouth. He also served as president, CEO and board member of Truman Bank in Clayton.

“We are extremely excited about Todd serving as the first board member of Arvest Springfield,” said Arvest Springfield President and CEO Mike Daw in a news release. “Unlike most banks, Arvest has autonomous leadership in all 16 community banks, each with its own board of directors and management team. We’re certain Todd will do an excellent job helping Arvest expand into Springfield and Branson as a community-based bank.”

Arvest opened its first Springfield location at 1435 E. Bradford Parkway in June 2007. A second location will open in the fall at 2403 W. Republic Road, and the bank plans to build between three and five additional Springfield branches by 2011. Two Arvest locations in Branson recently became part of the bank’s Springfield market; they previously were part of the Arvest North Central Arkansas market.

“I’ve dealt with Arvest and predecessor banks for almost 30 years and have always admired their genuine focus on community banking and service,” Parnell said in the release. “I’m excited about serving on the board of Arvest Bank and being a part of an excellent business that will be a catalyst for good things in our community and region, as it has been in so many others.”

Arvest Bank Group operates more than 200 branches in Missouri, Arkansas, Oklahoma and Kansas through a network of 16 locally managed community banks. Arvest has total assets of $9.7 billion and total deposits of $8.1 billion, according to the Federal Deposit Insurance Corp.