Arvest Bank acquires locations in Cassville, Shell Knob and Monett

Wednesday, March 6, 2013

Arvest Bank has entered into an agreement with Bank of America to purchase 29 locations, including those in Cassville, Shell Knob and Monett, and certain deposit accounts and loans associated with those locations.

The Arvest purchase of these locations includes regulatory approvals and will close on March 22. Most locations will open on Monday, March 25 as Arvest Bank branches.

"We are very happy to be entering the Cassville market and to be bringing Arvest's unique style of community-minded banking to this great community," said Mark Davis, market president for Arvest Bank in Shell Knob. "We are confident customers in Shell Knob will be pleased with the expanded hours and services available to them in our current facility there. We want to assure affected customers that we will continue working to make their switch to Arvest as seamless as possible."

The branch located at Highway 39 and YY in Shell Knob will close at the end of business on Friday, March 22, and those accounts will be transferred to the Arvest Bank location at 24832 Highway 39 in Shell Knob. The branch located at 503 Main St. in Cassville will become an Arvest location.

Arvest considers the addition of these branches and accounts within its existing footprint in the Shell Knob, Cassville and Monett areas a strong indicator of their commitment to community banking.

With plans to close the Shell Knob Bank of America location, Arvest is committed to serving the community at the newer, nearby location in Shell Knob and looks forward to entering the Cassville and Monett markets.

In addition to the locations, Arvest will gain most deposit accounts such as checking, saving, individual retirement accounts and certificates of deposit belonging to consumer and small business customers who live in the local area and are serviced at these locations. The transaction does not include credit card, mortgage, brokerage or trust accounts.

Other branch locations in Missouri include Aurora, Branson, Branson West, Carthage, Forsyth, Joplin, Lebanon, Lockwood, Mtn. Grove, Neosho, Nevada and West Plains. Locations in Arkansas include: Harrison, Hot Springs, Hot Springs Village, Mountain Home and Russellville. The remaining branches include Muskogee, Okla., Tahlequah, Okla., and Pittsburg, Kan.

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