Springfield, MO

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Arvest to close 4 SWMO branches

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Arvest Bank is closing four southwest Missouri branches as part of larger plans to reduce its footprint amid customer banking preference changes, officials said in a news release.

The company this morning announced the planned closures of 31 branches in Missouri, Arkansas and Oklahoma, according to the release. The company operates more than 270 branches.

The southwest Missouri branches slated to close this summer are in Joplin, Neosho, Noel and Shell Knob, according to a list published by Arvest.

"The past year has introduced many challenges to the banking industry and accelerated existing trends in consumer preferences and behavior," Arvest officials said in announcing the branch closures. "Most significant for Arvest Bank has been a shift in the balance between branch transactions and digital banking.

"In response to these significant changes in customer banking preferences, Arvest has conducted an in-depth analysis and will make changes to its branch network in 2021."

The release indicates a "limited number" of employees would be impacted by the closures, with Arvest seeking to find those workers roles at other locations.

Officials said more than one-third of the impacted branches are limited-service locations, with the majority in markets with other nearby branches.

Arvest also announced plans for eight new facilities and 15 remodeling projects over the next 12-18 months, though the markets were not identified in the release.


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