The acquisition was completed March 22.
Arvest entered into this agreement with Bank of America in December 2012, and now Arvest has taken ownership of eighteen Bank of America branch locations, as well as lease obligations for eleven other branch locations. The bank has also taken ownership of the deposit accounts such as checking, savings, IRAs and CDs belonging to households and small business customers who live in the local area and are serviced at these locations.
All acquired locations are within or near existing Arvest markets including a branch at 1311 Porter Waggoner Boulevard in West Plains, along with banks in Mountain Grove and Nevada. The new branch in West Plains marks Arvest’s first entry into this community, but not into the area as they have a strong presence in Mountain Home, Branson and Springfield.
In addition to West Plains, this acquisition also has Arvest entering the Mountain Grove and Lebanon markets for the first time.