Arvest Bank Hires Grinstead in Treasury Management Division

Wednesday, October 02 at 09:00 AM
Category: Arvest Community News


Arvest Bank is pleased to announce we have hired Taylor Grinstead as a sales advisor for our Treasury Management division.

Grinstead has 12 years of industry experience. In her new role at Arvest, Grinstead will be responsible for developing new business while expanding existing business relationships, when appropriate, among other duties. She will serve Arvest’s Oklahoma City and southwest Oklahoma markets, and be based in Oklahoma City.

“We are excited to add Taylor to our team,” said Julie Simmons, regional sales manager for the Treasury Management division. “She brings an impressive track record, and I am confident her experience and expertise will be a benefit not just for the bank, but more importantly, our customers.”

A veteran of the U.S. Army, Grinstead earned a bachelor’s degree in criminal justice and a master’s degree in administrative leadership from the University of Oklahoma, and is currently pursuing a master’s in business administration from Ohio University. She lives in Norman with her husband, Wes, and their son. 

Tags: Arvest, Treasury Management
 

Arvest Bank Announces Vagle Hiring

Tuesday, October 01 at 09:00 AM
Category: Arvest Community News

Arvest Bank is pleased to announce we have hired Dan Vagle as a product manager for our Treasury Management division.

Vagle has more than 15 years of industry experience and will oversee the business, financial and customer experience results for the Treasury Management division’s payable products, including Automated Clearing House (ACH) services, wire services, Positive Pay and account reconciliation, among others. He will serve Arvest’s entire four-state footprint, but be based out of the bank’s branch in Mission, Kan.

“We are thrilled to add Dan to our team,” said Paul Jarrett, the Treasury Management division’s director of product management. “His track record speaks for itself, and his experience and expertise will be a benefit for both the bank and our customers.”

Vagle earned a bachelor’s degree in business management from Hope College and a master’s in business administration from Robert Morris University. He lives in Overland Park, Kan., with his wife, Amanda, and their three daughters.

Tags: Arvest, Kansas, Treasury Management
 

Pope County EMS Receives Arvest Foundation Grant

Monday, September 30 at 10:00 AM
Category: Arvest Community News

Pope County Emergency Medical Services (EMS) will be able to purchase new equipment thanks to a $6,250 donation from the Arvest Foundation.

The gift was announced today in Pope County, Ark. Tony Warren, Elizabeth Hunnicutt, Tammy Burchett, Shawn Bates and Jessy Moreno of Arvest Bank were on hand to present the check.

The funds will help the Pope County EMS better serve the residents of the county by allowing them to purchase new patient transport equipment for their ATV as well as transport ventilators.

“Pope County would like to express their extreme appreciation to community partners like Arvest, who continually step forward and support worthwhile endeavors,” said Ben D. Cross, Pope County judge. “This donation to Pope County Emergency Medical Services will have a direct impact on life saving measures carried out within our service area.”

Doug Duerr, director of the Pope County EMS, explained, “This is a unique piece of equipment that we are adding to our EMS. We appreciate this a lot!”

“We are pleased to present this donation on behalf of the Arvest Foundation to support the Pope County Emergency Medical Services efforts in upgrading their patient transport equipment,” Bates said. “This donation is just one of many we have made throughout the area and demonstrates our ongoing commitment to this community.”

Tags: Arkansas, Arvest
 

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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