In hiring Summer Massey, Arvest Bank has added a staff member who could play a critical transitional role as it adds six Bank of America branches in the Springfield market this quarter. Massey, a six-year Bank of America veteran, had worked as a client manager before the Charlotte, N.C.-based bank consolidated at least three of its business banking divisions in the central region.
Consolidation Situation “Bank of America made a decision to exit some of the rural markets throughout the nation in early fall. With some folks in the central region, our positions were eliminated. It was a corporate decision. It wasn’t performance based. It became apparent to me when those branches were sold off, that the exit strategy had been in place. The market I covered was large – from Rolla to West Plains and over from Joplin to Nevada. There are still business clients that (Bank of America) is covering in those areas, but they are being handled now out of St. Louis or Kansas City … Predominately, my clients fell within the range of $5 million to $50 million in (annual) revenue. It is very similar to what I’m doing at Arvest.”
Bringing on Branches “When (the deal is approved) early this year, I look forward to playing a role in helping to welcome associates from Bank of America to the Arvest way and being a connection for those folks and the customers. … I’m essentially building relationships to make Arvest the financial services provider of choice in Springfield and southwest Missouri.”
Investing in the Future “We were talking just before the [acquisition] negotiations took place. Arvest was the bank I was interested in… Having just been a part of a withdrawal by a company, I was really looking for an institution that was committed to the market. The way Arvest entered the community by building from the ground up, it really injected capital into the community. It was really attractive because it was willing to make the investment to be a part of the community, rather than just making an acquisition, coming in and keeping what fits.”
Quality Control “I spent a lot of time in Kraft Foods in quality control. That was my first job out of college; I was a scientist for a while. I was there seven years. It introduced me to the concept of total quality management, which is a team approach to understanding where you fit in the whole business process. And so I got interested in business and went back [to school] and got my MBA. I liked how quality played a role in production. We were doing something together, and I liked how different parts of a team were being used to create what they are still doing at Kraft, and how it all interconnected. QC had authority, but ultimately, it was overhead because it wasn’t actually producing anything. Understanding that my role was to produce cheese, I just connected with that. It made sense how (my) part played into the bigger picture to help achieve the larger goals of the company.”
The Banker Calling “What attracted me to commercial banking was that it was analyzing a lot of different businesses all the time. I like getting to understand how I, as a banker, fit on their team and what their goals are. Each individual company’s goals are different, and how it wants to achieve those, that’s what we are a part of.”
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
