Arvest buying 29 Bank of America locations
BY LAURIE WINSLOW World Staff Writer
Tuesday, February 19, 2013
2/19/13 at 7:40 AM
Arvest Bank has received regulatory approval to buy 29 Bank of America locations, including four in Oklahoma - two in Muskogee and two in Tahlequah.
Fayetteville, Ark.-based Arvest said it will close the purchases March 22, with most of the branches opening March 25 under the Arvest name.
Arvest announced the acquisition plans in December. The deal also includes 15 Bank of America branches in Missouri, nine in Arkansas and one in Kansas.
The Muskogee locations are at 230 W. Broadway and 333 N. Third St., and the two in Tahlequah are at 100 S. Muskogee Ave. and 123 W. Shawnee St., Arvest said.
"As we work to finalize the acquisition of these Muskogee and Tahlequah locations, Arvest's focus remains on our commitment to meeting the financial service needs of both individual customers and companies in our community. We are excited to begin working with these customers and assure them that we will make their move to Arvest a smooth transition," said Kirk Hays, executive vice president for Arvest Bank in Tulsa, in a written statement.
In addition to the properties, Arvest will gain most deposit accounts such as checking, savings, IRAs and CDs. The transaction does not include credit card, mortgage, brokerage or trust accounts.
Arvest officials said in December they expected many Bank of America employees to transition to Arvest and keep their positions.
Arvest operates more than 240 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 16 locally managed banks, each with its own board of directors and management team.
Original Print Headline: Arvest gets OK to buy 29 BOA sites
Laurie Winslow 918-581-8466