Arvest Experience Lab Hosts NWA Tech Summit Panels

Monday, October 21 at 09:00 AM
Category: Arvest News

Arvest Bank is a proud participant in the 2019 Northwest Arkansas Technology Summit, which runs Oct. 20-23.

Specifically, we will host four panel discussions on Day 3 – Tuesday, Oct. 22 – of the summit. Both will be held at the Arvest Experience Lab near downtown Bentonville.

Two of the discussions will include Arvest representatives. Angie Garrett, executive director of digital innovation and strategic analysis at Arvest, will be one of the presenters in the “What’s Next After Next?” Q&A session built around building smarter communities. The session runs from 1:15-2:15 p.m.

Additionally, Arvest commercial banker Kelly Carlson will participate in a session led by RevUnit. The session, which will run from 2:35-3:35 p.m., will look at how the digital strategy and product studio is helping enterprise workforces leverage technology to #WorkBetter. Carlson will explain how Arvest supports the tech space and startups within our footprint.

Additional Arvest representatives will be on hand as well, and will be available to answer questions, offer advice or share ideas with event attendees. As a community catalyst for innovation of business growth – and a strong supporter of small business – we are proud to work with the Greater Bentonville Area Chamber of Commerce, Cox Communications and other sponsors of the summit to uncover innovative solutions to common business challenges and help demonstrate how technology can power change for business of all kinds.

Tags: Arkansas, Arvest

Arvest Wealth Management Names Randolph Regional Manager

Thursday, October 10 at 08:00 AM
Category: Arvest News

Arvest Bank is pleased to announce Josh Randolph has been named Arvest Wealth Management regional manager in Bartlesville, Okla.

Randolph, who most recently served as an Arvest Wealth Management senior regional investment officer, has 25 years of industry experience. In his new role, Randolph’s responsibilities include market management, sales development, growth of retail bank investment/trust sales opportunities, personal trust growth, generation of new business, and management of the assigned Arvest Wealth Management regional team.

“This promotion is well-deserved,” said Kyle Hubbard, president for Arvest Bank in Bartlesville. “Josh’s track record speaks for itself, and his experience and expertise will be a benefit not just for the bank, but more importantly, our customers.”

Randolph earned a bachelor’s degree in business administration from Oklahoma State University. He also has obtained CERTIFIED FINANCIAL PLANNER certification, the Certified Trust and Financial Advisor designation and Chartered Financial Consultant® designation.

Among other civic endeavors, Randolph is a board member at Spirit Church, a member of Leadership Bartlesville Class XIV, and a past board member for Elder Care, the Bartlesville Regional Chamber of Commerce and the Bartlesville Public Schools Foundation. He lives in Bartlesville with his wife, Jodi, and their three children.

Tags: Arvest, Arvest Wealth Management

Arvest to Give $65,500 to Teachers Throughout Bank’s Footprint

Friday, October 04 at 09:00 AM
Category: Arvest News

For the fourth consecutive year, Arvest Bank will honor teachers by awarding 131 educators with a total of $65,500 in prize money.

The decision to award 131 $500 gifts to individual teachers was made not only out of respect and appreciation for the work teachers do, but as a sign of support at a time when some schools continue to face budget challenges. All prizes will go to teachers who work at state-funded schools.

“As a business that stresses commitment to the communities we serve, it is our pleasure here at Arvest to recognize some of the teachers who contribute so much to those same communities,” Arvest president and CEO Kevin Sabin said. “It has been exciting to watch our We Love Teachers campaign grow over the last several years, and we hope these awards show how much we value and appreciate the hard work our teachers put in every day.”

To nominate a teacher to receive one of the $500 prizes, look for an Arvest Bank Facebook post about this contest during the week of Oct. 7-13. 

Teachers at state-funded schools in the following Arkansas counties are eligible: Baxter, Benton, Boone, Carroll, Conway, Craighead, Crawford, Faulkner, Franklin, Garland, Hempstead, Howard, Johnson, Little River, Logan, Lonoke, Madison, Marion, Miller, Mississippi, Montgomery, Pike, Polk, Pope, Pulaski, Saline, Scott, Sebastian, Sevier, Washington and Yell.

Teachers at state-funded schools in the following Kansas counties are eligible: Franklin, Johnson, Montgomery and Wyandotte.

Teachers at state-funded schools in the following Missouri counties are eligible: Barry, Cass, Clay, Jackson, Laclede, Lawrence, McDonald, Platte, Stone, Taney, Webster and Wright.

Teachers at state-funded schools in the following Oklahoma counties are eligible: Adair, Canadian, Cherokee, Cleveland, Comanche, Cotton, Craig, Creek, Delaware, Grady, LeFlore, Mayes, McIntosh, McClain, McCurtain, Muskogee, Nowata, Oklahoma, Okmulgee, Osage, Ottawa, Payne, Pittsburgh, Pontotoc, Pottawatomie, Rogers, Sequoyah, Stephens, Tulsa, Wagoner and Washington.

Tags: Arkansas, Arvest, Kansas, Missouri, Oklahoma

Arvest Experience Lab Garners Press Coverage

Monday, September 30 at 08:00 AM
Category: Arvest News

The Arvest Experience Lab (EXP), approaching its 18-month anniversary, recently was featured as part of two stories by Arkansas Democrat-Gazette business writer Andrew Moreau. 

The EXP was born out of Arvest Bank’s desire to increase focus on its digital channels and also to incorporate decision science as a business-driver. The 4,300-SF space in downtown Bentonville, Ark., currently houses 10 associates. It is led by Angie Garrett, executive director of digital innovation and strategic analysis. 

Part of what Garrett and her team do – study, assess and improve the digital experience Arvest customers have – is a big part of one of Moreau’s stories.*  

Moreau’s other story explores some of the ways traditional banks like Arvest are working with fintechs* (financial technology companies) to help financial institutions connect with customers via digital offerings.

Both stories offer a glimpse at some of the most interesting behind-the-scenes work currently happening at Arvest.



*Links marked with a * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: Arvest, Technology

Commercial Real Estate Market Remains Balanced

Friday, September 27 at 09:00 AM
Category: Arvest News

Arvest Bank recently released Skyline Reports on commercial and multifamily real estate in Northwest Arkansas for the first half of 2019.

During the first half of 2019, the overall vacancy rate for commercial real estate was 11.0 percent, up slightly from 10.9 percent reported at the end of 2018. During the six-month period, 371,243 square feet of newly constructed commercial space entered the market while 472,451 square feet was absorbed, resulting in positive net absorption of 101,208 square feet.

Researchers at the Center for Business and Economic Research (CBER) at the Sam M. Walton School of Business at the University of Arkansas explained that the vacancy rate rose despite more than 100,000 square feet of positive net absorption due to previously owner-occupied space being vacated by owners and entering the rental market.

The office submarket added 107,766 square feet of newly constructed space and absorbed 110,618 square feet, resulting in positive net absorption of 2,852. The overall vacancy rate for office space rose slightly from 8.4 percent at the end of 2018 to 8.6 percent at the end of the first half of 2019.

Mervin Jebaraj, CBER director and the lead researcher for the Skyline Report, commented on the office submarket, “During the first half of this year and consistently over the past several years, there has been significant addition of new office space in the region, particularly in Benton County, and the market has showed consistent strength by keeping pace with these additions and remaining well-balanced and with a healthy vacancy rate.”

The retail submarket also demonstrated continued strength as the overall vacancy rate for retail space dropped from 11.5 percent at the end of 2018 to 10.8 percent at the end of the first half of 2019.

“As we know, the retail sector across the country has been under pressure as a result of changing consumer preferences, but the retail real estate market in Northwest Arkansas has adapted well as more service-oriented businesses have moved into traditional retail spaces,” Jebaraj said. “Also, the steady population growth of the region has also contributed to a healthy retail market.”

Commercial building permits indicate that the construction of new commercial real estate properties in the region will continue to be strong.

In the multifamily real estate sector, which consists largely of apartments, the pace of construction has been very strong with thousands of new units entering the market, but, like the commercial space, absorption of these new units is more than keeping pace. As a result, the overall vacancy rate for multifamily properties continued to decline and ended the period at 3.1 percent.

Jebaraj said, “As we have said in the past, an overall vacancy rate under 5 percent is very healthy. This time last year, the multifamily vacancy rate was 3.9 percent, and now, a year later, it has fallen even more.

“The most significant decline in vacancy rates happened in Bentonville, which fell from 6.3 percent in the first half of 2018 to 3.1 percent in the first half of this year. Even with many more apartments being constructed and planned, we feel confident that the market will continue to absorb the majority of these new units as they offer proximity to desired services and amenities that are difficult to find in lower-priced single-family homes.”

Craig Shy, executive vice president and loan manager with Arvest Bank of Fayetteville said about the Skyline results, “These two reports clearly show that, as of now, the Northwest Arkansas market continues to grow and remain well-balanced. Our commercial bankers have been extremely active in helping our customers understand the market and the best opportunities for future development, and these developers are obviously hitting the mark as is evident by these indicators of a healthy, vibrant market.”

The Arvest Skyline Report is a biannual analysis of the latest commercial, single-family residential and multifamily residential property markets in Benton and Washington counties. The report is sponsored by Arvest Bank and conducted by CBER.

In 2004, Arvest Bank contracted with CBER to collect information about the local real estate markets. CBER researchers aggregated and analyzed data from local governments, property managers, visual inspections and the business media to provide a complete picture of the status of property markets in the two counties.

CBER provides excellence in applied economic and business research to federal, state and local government, as well as to businesses currently operating or those that desire to operate in the state of Arkansas. The center further works to improve the economic opportunities of all Arkansans by conducting policy research in the public interest.

Tags: Arvest, Skyline

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